MCQ for CA Final Audit - Chapter 13 AUDIT OF PUBLIC SECTOR UNDERTAKINGS

Sample Multiple Choice Questions (MCQ's) for CA Final - Paper 3 - Advanced Auditing and Professional Ethics - Chapter 13: AUDIT OF PUBLIC SECTOR UNDERTAKINGS - For Practice relevant for May/Nov 23 Examinations

 

Q:1 Tenure of Comptroller and Auditor General of India shall be:

 

  1. 6 years
  2. 65 years of age
  3. 6 years or upto 65 years of age whichever is earlier.
  4. 6 years or upto 65 years of age whichever is Later.

Answer: 3

 

Q:2 Comptroller and Auditor General of India can be removed:               

 

  1. when each House of Parliament decides to do so by a majority of not less than 2/3rd of the members present and voting.
  2. only on ground of proved mis-behaviour or incapacity.
  3. either (a) or (b)
  4. both (a) and (b)

Answer: 4

 

Q:3 Audit Reports and Annual Accounts of PSU shall be referred to specialized committees constituted by Parliament and the State legislatures. Such Committees consists of:     

 

  1. Audit Committee and Nomination and Remuneration Committee.
  2. Joint Parliamentary Committee (JPC) constituted for special purpose.
  3. Risk management Committee and Stakeholders Relationship Committee.
  4. Public Accounts Committee and Committee on Public Undertakings.

Answer: 4

 

Q:4 Which of the following functions is not covered within the scope of Public Accounts Committee:

 

  1. to examine that the moneys (shown in the accounts) were disbursed for the purpose to which they were applied.
  2. to examine that the expenditure was authorized.
  3. to examine the efficiency of public undertakings and to see whether they are being managed in accordance with sound business principles and prudent commercial practices.
  4. to examine that reappropriation has been made in accordance with the provisions made (i.e. distribution of funds).

Answer: 3

 

Q:4 Which of the following functions is not covered within the scope of Estimates Committee:              

 

  1. to suggest alternative policies in order to bring about efficiency and economy in administration;
  2. to examine whether the money is well laid out within the limits of the policy implied in the estimates;
  3. to suggest the form in which the estimates shall be presented to Parliament.
  4. to examine that the moneys (shown in the accounts) were disbursed for the purpose to which they were applied.

Answer: 4

 

Q:5 The examination of public enterprises by the Committee on Public Undertakings takes the form of:

 

  1. Comprehensive appraisal or evaluation of performance of the undertaking.
  2. Audit of efficiency, economy and effectiveness.
  3. Audit of provisions of funds, sanctions, compliances and propriety.
  4. Verification of transactions on the tests of public interest, commonly accepted customs and standards of conduct.

Answer: 1

 

Q:6 Which of the following functions is performed by the Committee on Public Undertakings:               

 

  1. To examine that the moneys (shown in the accounts) were disbursed for the purpose to which they were applied.
  2. To examine that the expenditure was authorized.
  3. To examine the efficiency of public undertakings and to see whether they are being managed in accordance with sound business principles and prudent commercial practices.
  4. Both (a) and (b)

Answer: 3

 

CA Final - Paper 3 - Advanced Auditing and Professional Ethics - Chapter 14   

 

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