The 'Stratified Sampling' in audit is used to: MCQ with Answer and Explanation

Question
The 'Stratified Sampling' in audit is used to:
A. Ignore sampling
B. Select a representative sample from sub-populations
C. Audit only large value items
D. Select all items
Answer: Option B
Solution (By JKSSB Mock Tests)
Stratification divides population into subgroups with similar characteristics to improve audit efficiency.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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Question #1
A firm's current ratio is 2.5:1. If current assets are ₹5,00,000, current liabilities are:
A. ₹2,50,000
B. ₹2,00,000
C. ₹5,00,000
D. ₹1,25,000
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Correct Answer: Option B

Explanation:
2.5 = 5,00,000 / CL => CL = 5,00,000 / 2.5 = ₹2,00,000.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #2
Which unique identifier is increasingly linked with PFMS to ensure accurate delivery of benefits?
A. Aadhaar Number
B. Passport Number
C. PAN Card
D. Voter ID
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Correct Answer: Option A

Explanation:
Aadhaar is heavily integrated into PFMS for authenticating beneficiaries and ensuring duplicate or ghost accounts are eliminated.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #3
Consider these journal entries: 1. Drawings A/c Dr., To Purchases A/c 2. Machinery A/c Dr., To Cash A/c 3. Rent A/c Dr., To Outstanding Rent A/c 4. Bank A/c Dr., To Interest Received A/c. Which combination represents a compound journal entry?
A. All are simple entries
B. 1 and 2
C. 2 and 3
D. 2 and 4
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Correct Answer: Option A

Explanation:
All given entries involve only two accounts, hence are simple journal entries.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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