MCQ for CA Intermediate Audit - Chapter 13 - Audit of Different Types of Entities

Sample Multiple Choice Questions (MCQ's) for CA Intermediate - Paper 6 - Auditing and Assurance - Chapter 13: Audit of Different Types of Entities - For Practice relevant for May/November 23 Examinations

Q:1 A Limited Liability Partnership shall maintain such proper books of account as may be prescribed relating to its affairs for each year of its existence. Books are prescribed -
  1. under Section 34 of LLP Act, 2008
  2. under Rule 24 of LLP Rules, 2009
  3. under Section 44AA of Income-tax Act, 1961
  4. under Section 129 of Companies Act, 2013

Answer: 2

Q:2 As per Section 34 of LLP Act, 2008, every LLP shall, prepare a Statement of Account and Solvency in prescribed form -
  1. within a period of 3 months from the end of each financial year
  2. within a period of 6 months from the end of each financial year
  3. within a period of 30 days from the end of each financial year
  4. within a period of 60 days from the end of each financial year

Answer: 2

Q:3 During the course of audit of co-operative society, if the auditor notices that there are some serious irregularities in the working of the society, he may report these special matters to the ______________
  1. Registrar
  2. Members
  3. Managing Committee
  4. None of the above

Answer: 1

Q:4 Circumstances in which auditor of co-operative society is required to submit special report includes:
  1. Personal profiteering by members of managing committee
  2. Weak Internal Control
  3. Errors noticed in the books of account
  4. All of the above

Answer: 1

Q:5 First Auditor of Multi-State Co-operative Society shall be appointed by _________
  1. Board of Directors within one month of registration
  2. Registrar within one month of registration
  3. Managing Committee within 60 days of registration
  4. Members within 60 days of registration

Answer: 1

Q:6 Under section 43 (h) of the Central Act, who can frame rules prescribing the books and accounts to be kept by a co-operative society?
  1. Central Government
  2. State Government
  3. Management Committee of the Society.
  4. Secretary of the Co-operative Society.

Answer: 2

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