Loyola College B.Com Corporate & Secretaryship April 2011 Auditing Question Paper PDF Download

LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.Com. DEGREE EXAMINATION – CORPORATE SEC.

FIFTH SEMESTER – APRIL 2011

BC 5401 – AUDITING

 

 

Date : 25-04-2011              Dept. No.                                        Max. : 100 Marks

Time : 9:00 – 12:00

SECTION – A

(Answer all the Questions)                                      10 X 2 = 20

 

  • Define Interim Audit.
  • Define Audit Programme.
  • What is meant by Internal Check?
  • What are the two types of Internal Control?
  • Give the objectives of vouching Cash Book.
  • Brief about the two types of Contingent Liabilities.
  • State the objectives of Verification of Assets.
  • What do you mean by Working Papers?
  • Give any four examples of Capital Reserve.
  • What do you mean by Basket Purchases?

 

SECTION – B

(Answer any 5 Questions)                                    5 X 8 = 40

 

  • Define Audit Note Book and list out the contents of Audit Note Book.
  • Give a system of internal check for Petty Cash Payments.
  • How do you vouch the following:-
  1. Prepaid Insurance; b)     Prepaid Rent;
  2. c) Accrued Interest; d)     Contingent Asset.
  • Bring out the Advantages and Disadvantages of Test Checking.
  • What do you mean by Teeming & Lading. How to detect Teeming & Lading?
  • Differentiate between
  1. General Reserve and Specific Reserve;
  2. Provisions and Reserves
  • Explain the concept of Internal Control System and its characteristics.
  • How do you verify and value the following:-
  1. Freehold Land;
  2. Leasehold Land.

 

SECTION – C

(Answer any 2 Questions)                             2 X 20 = 40

 

  • Explain in detail the procedure for vouching the Receipts side and Payments side of Cash Book.
  • What is the duty of an auditor with regard to verifying and valuing Stock of Raw Material, Work-in-progress and Finished Goods?
  • a) Bring out the difference between Capital Expenditure & Revenue Expenditure.
  1. What do you mean by Capital Reserve? Write a brief note the creation and utilisation of Capital Reserve.

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