Kakatiya University, B.Com FACULTY OF COMMERCE AND BUSINESS MANAGEMENT, 3rd Year, Auditing 2013 Question Paper Free Download
Kakatiya University 2013 Question
QP Code : 9545/7
FACULTY OF COMMERCE AND BUSINESS MANAGEMENT
B.COM (3rd Year) EXAMINATION
(Common to B.com CC/Computers/Insurance/ASM/Taxation/TPP/CSP)
Time : Three hours Maximum : 70 marks
SECTION A(5*4 = 20 marks)
1. Answer any FIVE of the following in not more than 1 page each.
a) What is Balance Sheet Audit?
b) Distinguish between Interim and Final audit.
c) State the liabilities of an auditor.
d) What is audit Programme?
e) State the need for valuation of assets of a firm by the auditor.
f) State the objectives of vouching.
e) What are the contents of an audit report?
h) What are the objectives of business correspondence?
SECTION B (5 x 10 = 50 marks)
Answer ALL questions in 5 pages each.
2. (a) What are the different types of audit based on ownership and based on objectives?Explain about financial audit in brief.
(b) Explain the advantages and limitations of auditing.
3. (a) Explain the procedure for appointment and removal of a company auditor.
(b) What is internal control? State its objectives and limitations.
4. (a) How do you vouch the following?
(i) Cash sales
(ii) Payment of revenue expenses and payment to creditors.
(b) Explain how do you value the goodwill and buildings of a business firm.
5. (a) Explain the steps involved in conducting the audit of a manufacturing company transactions.
(b) What is an audit report? State its contents and importance.
6. (a) What is report writing? Explain the uses of report writing.
(b) State the purpose of business letters. Write a letter to the supplier of raw material indicating the need for quality and time adherence.