B.com 1st Year Auditing Important Questions 2024

Today you will get a set of b.com 1st year auditing important questions for the new session 2024. 

These questions have already been asked in the past B.com examination paper. 

But still, its existence continues and these are very helpful to the students, who are in b.com first year.

The best way to prepare for the upcoming examination is to prepare the answers to given questions in advance.

As you know the audit term is related to the financial statement audit. 

Every company does a financial audit every year. 

The main objective is to evaluate the financial statement or strength of the organization. 

The audit ensures that company financial records are fair and transactions are accurate. 

The audit is a necessary part of the organization. 

This is enforced on private and government organizations. 

So, this subject is good for your career and this is a demanding course in the present scenario. 

Therefore, it is necessary to focus on this subject. 

You should start to solve b.com 1st year auditing important question papers instantly.

These questions are best to make BCom 1st year auditing notes in advance and this will provide the knowledge of the pattern of questions. 

First of all, write the questions on your auditing b.com part 1 notes book. 

Then read the auditing chapters in your university-recommended textbook. 

Understand the concept of the lesson. 

Now start to write the answer to the auditing question paper in your own words. 

This process will help you to memorize the answer in a short time and for a long period. 

B.com 1st Year Auditing Question Paper

B.com 1st Year Auditing 1st Paper Questions

Paper-1 (Auditing & Taxation)

• Explain the problems encountered in an EDP environment. 
• What is meant by auditing? Explain the classes of the audit.
• Explain the contents of the audit report.
• Write short notes on the following - (a) Audit working papers (b) Internal control (c) Audit program (d) Valuation & verification of fixed assets (e) Status of company auditor (f) Types of errors.
• What is 'Income'. Define it. 
• Define the following - (a) Exempted Income (b) Short-term capital gain (c) Tax deducted at source (TDS)

B.com 1st Year Auditing 2nd Paper Questions

Paper-2 (Accounting - Auditing)

• Describe the limitations of auditing.
• What is the difference between accounting and auditing?
• Auditing is a luxury, Explain it. 
• Describe the steps to be taken by the auditor before the commencement of the new audit.
• Discuss the advantages of Internal Audit.
• How would you verify the Goodwell investment?
• Discuss the duties of an auditor in connection with the valuation.
• What is the object of the secret reserve?
• How would you audit the forfeited shares?
• What are the essential qualities of a good auditor?
• Explain the objects of vouching. Discuss the duties of an auditor in this connection.
• What are the qualifications and disqualifications of a company auditor?
• What is the difference between auditing and Research?
• Discuss the objective of valuation.
• Discuss the primary objective of Auditing.
• What is the investigation? How does it differ from Auditing?
• What is the special audit of companies? By whom it is conducted?
• What is the difference between an internal audit and an internal check?
• What are the provisions of law regarding the appointment, removal, disqualification, and remuneration of a company auditor?
• What is Vouching? Differentiate between vouching and verification? Discuss the objective of vouching.
• What do you understand by continuous audit? Explain its merits and demerits. 
• What do you mean by divisible profit? What are the duties of an auditor in this regard? Explain
• Explain the duties of an auditor in respect of secret reserve. 
• What do you mean by an audit program? Describe its merits and demerits
• What type of audit is the audit of life insurance and partnership?
• Explain periodic audit and interim audit
• Which audit runs throughout the year?
• How should the program of audit be - (1) Flexible (2) Clear (3) Comprehensive (4) Appropriate All

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