5 Questions
What is the origin of the term 'Audit'?
The origin of the term 'Audit' is said to be in the Latin term 'auditor' which means to listen.
What was the scope of Auditing in the Middle Ages?
In the Middle Ages, the scope of Auditing was restricted to detecting errors and frauds in the books of accounts only.
Define Auditing in simple terms.
Auditing is nothing but verification of the correctness of the books of accounts.
When does auditing start according to the text?
Auditing starts after the accounting job is over.
What is the purpose of Auditing?
The purpose of Auditing is to check the books of accounts and related documents for the purpose of a true and fair view of the business organizations.
Test your knowledge of advanced accountancy with this quiz on Auditing. Explore the definition, importance, advantages, and features of auditing in this B.Com Part – III Semester – V quiz.
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