___________ is generally conducted to ascertain whether the Balance Sheet and Profit & Loss A/c presents a true and fair view of the financial position.

Cost audit

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Financial audit

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Secretarial audit

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Management accounting audit

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Solution

The correct option is B Financial audit

Financial audit

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Similar questions

______________ present a true and fair view of the financial position of the business.

Q. The main purpose of ___________ accounting is to ascertain profit or loss during a specific period and to show financial position of the business.

Q. The auditor has to report to the ________ for conducting audit whether the financial statements reveals true and fair view of the state of affairs and of the profit or loss earned during the period by the organization.

State whether the following statement are true or false.

1. Final Accounts are prepared on the basis of Trial Balance.
2. Trading Account is a part of Profit & Loss Account.
3. Profit Loss Account is prepared to find out Gross Profit or Gross Loss.
4. Gross Profit or Gross Loss is transferred to Balance Sheet.
5. An amount of net profit is added to the capital.
6. All indirect expenses are debited to trading account.
7. Balance Sheet is a statement and not an account.
8. Capital account is a personal account.
9. Amount of prepaid expenses appears on assets side.
10. Bank Overdraft is a liability of business concern.

A Statement of Affairs is similar to the :

(a) Balance sheet
(b) Trial balance
(c) Trading Account
(d) Profit & Loss Account

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___________ is generally conducted to ascertain whether the Balance Sheet and Profit & Loss A/c presents a true and fair view of the financial position.

The correct option is B Financial auditFinancial audit

The correct option is B Financial audit

Financial audit