Which of the following is NOT a type of audit report? MCQ with Answer and Explanation

Question

Share Report Error

Which of the following is NOT a type of audit report?

A. Unqualified Report

B. Profitable Report

C. Adverse Report

D. Qualified Report

Answer: Option B

Solution (By JKSSB Mock Tests)

Audit reports can be unqualified (clean), qualified, adverse, or a disclaimer of opinion. There is no such thing as a 'Profitable Report'.

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Question #1

The audit report is addressed to:

A. Management

B. Government

C. Shareholders

D. Board of directors

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Correct Answer: Option C

Explanation:
The auditor's report is addressed to the members (shareholders) of the company.

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Question #2

The term 'Noting Charges' is associated with:

A. Voucher system

B. Depreciation

C. Bills of exchange

D. Bank reconciliation

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Correct Answer: Option C

Explanation:
Noting charges are paid to notary public for recording dishonour of a bill.

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Question #3

The 'Secretarial Audit' is mandated for:

A. Listed companies and certain prescribed class of companies

B. Small companies only

C. All companies

D. Private companies only

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Correct Answer: Option A

Explanation:
As per Section 204 of Companies Act, 2013, secretarial audit is mandatory for listed and other prescribed companies.

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

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