Most Important Lecturer Commerce MCQs Online Test No. 57

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Note:-

There will be 25 multiple choice question in the test.
Answer of the questions will change randomly each time you start this test.
Practice this test at least 5 times if you want to secure High Marks.
At the End of the Test you can see your Test score and Rating.
If you found any incorrect answer in Quiz. Simply click on the quiz title and comment below on that MCQ. So that I can update the incorrect answer on time.

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Test Instructions:-
Test Name	Lecturer Commerce
Subject	Commerce Test 57
Test Type	MCQs
Total Questions	25
Total Time	20 Minutes
Total Marks	100

You have 20 minutes to pass to the quiz.

Lecturer Commerce Online Test No. 57

1 / 25

Auditor's report is signed by:

One Director

Two Directors

Directors and Chief Executive

None of the above

2 / 25

Auditor finds that there is a change in the method of valuation of stock; whether he should.

Allow it.

Not allow it.

Allow it with a note to this effect.

Ignore it.

3 / 25

A special Auditor has to submit his report to the:

Shareholders

Central Government

Corporate Law Authority

Board of Directors

4 / 25

An audit report is addressed to:

Chairman of the Board of Directors.

Chief Executive of the company.

Board of Directors

Members

5 / 25

If an auditor, not appointed at annual general meeting, is appointed by the:

The central Government

Board of Directors

Shareholders

Corporate Law Authority

6 / 25

A company auditor should see that the dividend should be paid.

After charging depreciation.

Without charging depreciation.

Out of capital.

None of the above.

7 / 25

If there is a capital loss, the auditor should:

Not allow payment of dividends

Allow payment of dividends

Allow payment of dividends after making such losses good.

None of the above

8 / 25

A company has resorted to heavy sale of stock with a view to play dividends to shareholders. As an auditor, you should:

Justify it.

Not justify it.

Ignore it

Report it.

9 / 25

You find that company has given loan to its shareholders for purchasing of its shares. Would you, as auditor.

Allow it.

Not allow it.

Ignore it.

None of the above.

10 / 25

A company auditor can be removed before expiry of his term by:

Shareholders

Board of Directors

Central Government

State Government

11 / 25

First auditor is appointed by:

Chief Executive of the company

Finance manager of the company

Shareholders of the company

None of the above

12 / 25

A Special Auditor is appointed by the:

Shareholders

Board of Directors

Central Government

None of the above

13 / 25

Following can be appointed as an auditor of a public company.

Director of the company

Body corporate

Chartered Accountant

None of the above

14 / 25

The company has earned profits on sale of its machinery and wants to pay dividend out of it . As auditor, you should:

Allow it.

Not allow it.

Allow it with certain conditions.

None of the above

15 / 25

Profits prior to incorporation of company.

Can be paid as dividends.

Cannot be paid as dividends.

Can be used for revenue expenses.

None of the above

16 / 25

An auditor in a casual vacancy is appointed by the:

Board of Directors

Shareholders

Central Government

Corporate Law Authority

17 / 25

Auditor is appointed by:

Chief Executive of the company

Finance manager of the company

Any individual

None of the above

18 / 25

If profits are overstated due to revenue expenses being charged to capital, it will amount to payment of dividend.

Out of capital

Out of capital profits.

Out of revenue profits.

None of the above.

19 / 25

Remuneration of a company auditor is fixed by the:

Shareholders

Board of Directors

Central Government

Appointing Authority

20 / 25

A vacancy caused by resignation of the auditor is filled only:

By board of Directors

At the general meeting of shareholders

By the central Government

By the Corporate Law Authority

21 / 25

Auditor should be dutiful like a:

A watch dog

A blood hound

A detective

An insurer

22 / 25

A bank can declare dividends.

Without making capital losses goods.

After making capital losses goods

Both A & B

None of the above

23 / 25

In his report, the auditor gives his:

Judgment.

Opinion.

True state of affairs.

None of the above

24 / 25

A company auditor, in general, has to submit his report to:

Shareholders

Central Government

Corporate Law Authority

Board of Directors

25 / 25

Internal auditor has to submit report to:

Shareholders

Government

Corporate Law Authority

None of the above

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