Q4 – Pre-determined price based on consideration of all factors which are expected to affect the price is known as _________ price. Posted on:
Q3 – Which of the following is aggregated by the process of classification, allocation and apportionment spread over the cost units produced? Posted on:
Q2 – The main purpose of __________ is to determine profit and loss on each job and to provide a valuation of uncompleted jobs. Posted on:
Q119 – _______________ are defined as tracing one or more transactions through the accounting system and observing the application of relevant aspects of the internal control system. Posted on:
Q118 – ________________ is an Audit programmes which contain test and procedures to obtain audit evidence as to the completeness, accuracy and validity of transactions as well as obtaining evidence on the cost, authorization, valuation, existence, beneficial ownership and presentation of assets and liabilities in the financial statement Posted on:
Q116 – Audit programme is also a guide to audit staff to keep to the audit plan so as not to derail from the audit objectives. Posted on:
The Institute of Internal Auditors (IIA) defines ______________ as an independent appraisal function established within an organization to examine and evaluate its activities, as a service to the organization. Posted on:
Internal audit is an important organ of the governance structure in any organization that reviews the accounting and internal control systems and plays a vital role in risk management. Posted on: