Inter PN-10 CAA Quiz 8

1. SA 210 stands for-

2. he meetings of Audit committee should be                         in a year

3. Chartered Accountants have to retain the working papers for-

4. The purpose of Internal audit is to detect the error in the;

5. Form for Secretarial Audit Report is-

6. The purpose of internal audit is to protect the

7. Audit is conducted to draw overall opinion on

8. SA 230 stands for    .

9. An auditor should submit a Disclaimer of Opinion when

10. Audit Procedures to obtain audit evidences include

11. An audit report is the                product of audit

12. Audit is a fact-finding process that compares actual results with

13. SA-700 stands for   .

14. Objective of an Audit is to formulate an overall opinion on

15. Permanent Audit file contains .

16. If the net cash from operating activities is Rs.9,00,000, net cash used in investing activities is Rs.(4,00,000), and net cash used in financing activities is Rs.(3,00,000), what is the net increase in cash and cash equivalents during the year?

17. A company has the following information: Net Profit after tax: Rs.7,00,000 Depreciation charged: Rs.1,20,000 Increase in Trade Receivables: Rs.40,000 Decrease in Trade Payables: Rs.30,000 What is the net cash from operating activities (Indirect Method)?

18. Which of the following is NOT included in cash flows from investing activities?

19. Cash flows from which of the following activities include receipts from sale of goods and services?

20. The company’s Balance Sheet shows the following liabilities: Long-term borrowings: ₹5,00,000

Trade payables: ₹1,00,000

Current maturities of long-term debt: ₹80,000 Provision for taxation: ₹50,000

What is the total Current Liabilities amount?

21. A company has the following information:

Inventory: ₹1,50,000

Trade Receivables: ₹2,00,000

Cash and Cash Equivalents: ₹50,000 Prepaid Expenses: ₹10,000

Short-term loans and advances: ₹40,000

What is the total amount classified as Current Assets in the Balance Sheet?

22. According to Schedule III, under which head is 'Capital Reserve' shown?

23. Which of the following expenses is shown separately in the Statement of Profit and Loss as per Schedule III?

24. Which section of Schedule III deals with the format and disclosure requirements for the Statement of Profit and Loss?

25. According to Schedule III of the Companies Act, 2013, which of the following is classified under 'Current Assets'?