Veer Narmad South Gujarat University 2011-3rd Year B.Com SB-0508 Auditing ( : 3) . - Question Paper
SB-0508
Third Year B. Com. Examination March / April - 2011 Auditing : Paper - III
[Total Marks : 70
Time : 3 Hours]
Seat No.:
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Fillup strictly the details of signs on your answer book.
Name of the Examination :
T. Y. B. Com.
Name of the Subject:
Auditing - 3 (Optional)
Student's Signature
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-Section No. (1,2,.....): Nil |
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Instructions : (1) As per the Instruction No. 1 of Page no. 1.
(2) Figures to the right indicate full marks of the question.
(3) Precise and clear answer to each question is expected.
1 Give answer in brief : 10
(i) What is Contingent Assets ? Give two illustrations.
(ii) What is management audit ?
(iii) Whose permission should be taken for the following :
For reduction of capital For issue of bonus shares For payment of interest from capital For issue of shares at a discount.
(iv) Give the list of vouchers used in vouching of purchases.
(v) Classify liabilities of an auditor of the company.
2 (a) 'Accountancy is a necessity, while auditing is a 6
luxury'. Do you agree with this statement ? Why ?
(b) What is misappropriation of cash and goods ? How it 6 can be prevented ?
2 (a) Explain considerations at the commencement of a 6
new audit.
(b) State the advantages and disadvantages of 6
continuous audit.
3 (a) Distinguish between internal check and internal audit. 6
(b) How will you verify the following ? 6
Public deposit Wasting assets.
OR
3 (a) State the points that an auditor has to keep in 6
mind while vouching.
(b) 'Internal check is not a part of auditing however it is 6 a system of most importance to the auditor.' Explain this statement.
4 (a) What is investigation ? Points to be considered while 6 preparing investigation report.
(b) State the auditor's duties regarding divisible profit. 6
(a) Give your opinion as an auditor : 6
(i) Company intend to write off advertisement campaign expenses in one year only.
(ii) Company intend to issue equity shares by giving 2.75% underwriting commission.
(iii) Company intend to transfer unpaid dividend to profit and loss appropriation account.
(b) You are appointed as an investigator on behalf of an 6 intending purchaser of a running business. What points will you examine during the course of your this work ?
(a) What is audit programme ? Prepare an audit 6 programme of self finance college.
(b) What is cost audit ? How does it differ from financial 6 audit ?
(a) State the provisions of the Companies Act regarding 6 rights of an auditor.
(b) Discuss the techniques of management audit. 6
6 Write short notes : (any three) 12
(i) EDP audit
(ii) Objectives of tax audit
(iii) Difference between capital and revenue expenditure
(iv) Interim dividend
(v) Test checking
(vi) Internal control system of a bank.
SB-0508] 4 [ 10000 ]
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| Earning: Approval pending. |
