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Most Important Lecturer Commerce MCQs Online Test No. 59

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Online Free Taleem is free online MCQ’s test related to Lecturer Commerce. All the individuals who are going to appear in PPSC, FPSC, KKPSC, SPSC, BPSC, AJ&KPSC, NTS, Lecturer Commerce written test can attempt these tests in order to prepare for it in best possible way. Our tests of Lecturer of Commerce include all the important questions and Past Paper of Lecturer Commerce, that have extremely high amount of chances for been included in the actual exam which make our test undoubtedly the best source of preparation.

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 59
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. 59

1 / 25

Working papers are property of:

Client.

Registrar.

Auditor

Corporate Law Authority.

2 / 25

Engagement letter is written by:

Director.

Auditors.

Creditors.

Chief Executive.

3 / 25

Misappropriation of goods may be checked by:

Proper supervision over stock.

Checking of employees.

Punishment of employees.

None of the above.

4 / 25

A Chartered Accountant sent circular letters soliciting work. Can he be held liable?

For misfeasance.

For negligence.

Criminally.

For professional misconduct

5 / 25

Auditors has right to:

Obtain information.

Give information.

Prepare accounts.

None of the above.

6 / 25

Audit plan is prepared:

Before the start of audit

During audit.

After audit.

At any time.

7 / 25

Detection and prevention of errors and fraud is the responsibility:

Auditor.

Internal Auditor.

Management

None of the above.

8 / 25

An auditor can be held liable under C.A. Ord. 1961 for:

Negligence.

Criminal offence.

Professional misconduct.

None of the above.

9 / 25

Duty of Auditor is to:

Form an opinion.

Report.

Examine books of accounts.

Attend annual general meeting.

10 / 25

With whom does the auditor of a limited company have a contractual relationship?

The company.

The directors.

Chief Executive.

The company and the shareholders.

11 / 25

An auditor, working in honorary capacity, is:

Liable.

Not liable.

Criminally liable.

None of the above.

12 / 25

For misstatement in a company prospectus, the auditor incurs.

Civil liability.

Criminal liability.

Contractual liability.

None of the above.

13 / 25

The auditor should plan to:

Conduct an effective audit

Disclose fraud.

Examine production techniques.

None of the above.

14 / 25

An auditor is held criminally liable for:

Loss to his client.

Neglect of his duty.

Offences against statutory provisions.

None of the above.

15 / 25

Window dressing implies:

Curtailment of expenses.

Checking wastages.

Under valuation of assets.

Over valuation of assets.

16 / 25

If an auditor is found guilty of falsification of company books, he will incur.

Criminal liability.

Civil liability.

Contractual liability

None of the above

17 / 25

If an auditor allows publication of annual reports knowing them to be materially false to deceive shareholders, he incurs.

Contractual liability.

Civil liability.

Criminal liability

None of the above.

18 / 25

If a company auditor has misapplied money of a company, he may be held liable for:

Negligence.

Criminal liability

Contractual liability.

19 / 25

Errors of omission are:

Technical errors.

Errors of principle.

Compensating errors.

None of the above.

20 / 25

If an auditor fails to satisfy himself that the transactions are ultra-virus the directors, he incurs.

Criminal liability

Civil liability

Contractual liability

None of the above

21 / 25

Auditor is liable for:

Not verifying petty cash.

Not determining stock.

Not checking accounts properly.

All of the above.

22 / 25

Valuation of assets on wrong basis is:

Technical error.

Clerical error.

Error of principle.

None of the above.

23 / 25

If a company auditor gives false evidence intentionally, he can be held for:

Negligence.

Misfeasance.

Breach of contract.

Criminal liability.

24 / 25

Falsification of accounts is undertaken by:

Auditors.

Clerks.

Accountants.

Responsible officials.

25 / 25

Civil liability of an auditor implies liability for:

Misappropriation of Cash.

Misappropriation of goods.

Fraud.

Misfeasance

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