The 'External Confirmation' from a bank is an example of: MCQ with Answer and Explanation

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The 'External Confirmation' from a bank is an example of:

A. Internal evidence

B. Analytical procedure

C. Oral evidence

D. External evidence obtained directly by the auditor

Answer: Option D

Solution (By JKSSB Mock Tests)

Direct confirmation from bank is highly reliable.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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Question #1

PFMS is managed and implemented by:

A. Controller General of Accounts (CGA)

B. Comptroller and Auditor General (CAG)

C. NITI Aayog

D. Reserve Bank of India (RBI)

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Correct Answer: Option A

Explanation:
The Controller General of Accounts (CGA) under the Ministry of Finance administers the PFMS portal.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #2

The 'Journal Proper' is used to record:

A. All credit sales

B. All cash transactions

C. All credit purchases

D. Transactions that cannot be entered in any subsidiary book

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Correct Answer: Option D

Explanation:
Journal proper is for opening entries, closing entries, transfer entries, rectification entries, etc.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #3

The 'Confirmation' from debtors is an example of:

A. Oral evidence

B. Internal evidence

C. External evidence

D. No evidence

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Correct Answer: Option C

Explanation:
Direct confirmation from third parties provides reliable external audit evidence.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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