The Institute of Cost and Works Accountants of India 2008 Certification CWA/ICWA Commercial & Industrial Laws And Auditing - Test 2 - Question Paper
TEST PAPER - I/6/CIA/2008/T-2
Time Allowed: 3 Hours Full Marks: 100
COMMERCIAL & INDUSTRIAL LAWS - (50 Marks)
Q.No.1 is compulsory and any two questions from rest.
Q1) a. Comment on following statement. 18
(1) Passing of risk is dependent on delivery of goods.
(2) Every trade practice in restraint of trade is not necessarily a restrictive trade practice.
(3) Lay off and retrenchment cans not the same meaning.
(4) Gratuity can be attached by an order of court.
(5) Eligibility of bonus depends on the period of actual service.
(6) Minor under Contract Act is always a beneficiary.
(7) An apprentice is a workman under Industrial Dispute Act.
(8) Acceptance for honour can be made only when the instruments becomes Dishonored by non acceptance or by non payment.
(9) Matters provided in first schedule, second schedule and third schedule of pay ment
of Bonus Act.
b. Conditions under sale of goods Act. 4
Q2) a. What is the jurisdiction of various forums/commissions for the purpose of Con sumer Protection Act 1986. 4
b. Explain the principle of Risk follows ownership under sale of goods Act. 4
c. Explain the term Industrial Dispute according to Industrial Dispute Act. 3
d. What is meant by monthly wages and how are they calculated under workmensCompensation Act. 3
Q3) a. Define - (a) cost of living index number (b) Employee (c) Wages under minimumWages Act. 7
(b) How are the Inspector appointed under Minimum Wages Act and what are their powers. 4
c. Who are certifying surgeons ? State the duties of certifying surgeons under Factory Act. 3
Q4) a. What do you understand by partial disablement and total disablement as de fined in the workmens compensation Act. 4
b. State the provisions of EPF Act regarding contribution to providend fund. 4
c. When the notice for dishonour is not necessary. 3
d. Explain the provisions relating to prohibition of lay off and closure of
Industrial undertaking in the light of Industrial Dispute Act. 3
Q5) Write short notes. (Any Two) 14
(a) Cartel under competition and commission act.
(b) Appeal procedure under right to information act.
(c) Limited liability under competition commission act.
(d) Domestic Nexus under competition commission act.
Section- II-AUDITING- (50 Marks) Q.No.1 is compulsory and any two questions from rest.
Q1) Answer in one sentence only. 18
(i) What is an Audit report?
(ii) What is Audit certificate?
(iii) List down the contents of Audit Report?
(iv) State the different opinions either of which is included in Audit Report.
(v) What is qualified Audit report?
(vi) What do you mean by an unqualified Audit report?
(vii) To whom Audit certificate is addressed?
(viii) To whom Audit report is addressed?
(ix) Whether Audit Report or Audit certificate may provide suggestions for improvements?
Q2) What is audit evidence? Explain the different types of audit evidence and different methods of obtaining them. 16
Q3) What do you mean by the Disclosure of Accounting Policies and Practice - discuss in brief. 16
Q4) Discuss the rights, duties & liabilities of the auditor of a company. 16
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