(A) works on cost. (X)
(B) selling overhead. (X)
(C) distribution overhead. (X)
(D) administration overhead ()

Answers: Audit fess is a part of administration overhead.

(A) Inventory (X)
(B) Accounts Payable (X)
(C) Accounts Receivable ()
(D) Expenses (X)

Answers: IFRS 9 explains about Accounts Receivable.

(A) Financial information ()
(B) Non-financial information (X)
(C) Both (a) and (b) (X)
(D) None of these (X)

Answers: Scope of financial audit is Financial information.

(A) Profit making entity (X)
(B) Non-profit making entity (X)
(C) Corporate entity only (X)
(D) Any entity ()

Answers: Auditing engagement can be performed w.r.t. Any entity.

(A) 32 (X)
(B) 34 (X)
(C) 36 (X)
(D) 38 ()

Answers: How many Standards on Auditing have been issued 38.

(A) Standards on Auditing (X)
(B) Standard on Quality Control ()
(C) Standards on Review Engagement (X)
(D) Standards on Assurance Engagement (X)

Answers: Which of the following is not type of engagement standard Standard on Quality Control.