Tag Archives | India

Verification of Assets and Liabilities of a Bank | Auditing

In this article we will discuss about the verification of assets and liabilities in a bank: 1. Cash and Bank Balances 2. Deposits and Other Accounts 3. Acceptances, Endorsements and Other Obli­gations 4. Borrowings from Others 5. Loans and Advances 6. Investments 7. Bills Purchased and Discounted 8. Inter-Branch, Inter-Company, and Overseas Transactions 9. Money […]

Investigation Procedures of a Limited Company | Auditing

Some of the most frequently asked exam questions on investigation and audit of a limited company are as follows: Q.1. Enumerate the circumstances under which the Central Govt. may order ‘investigation’ of a limited company. Ans. The Companies Act., 1956, under its Section 237, states the specific circumstances when the Central Government may order for […]

Dividends and Divisible Profits of a Company | Auditing

Some of the most frequently asked exam questions on auditing for dividends and divisible profits are as follows:  Q.1. Define and explain the term ‘Di­visible Profits’. Ans. These refer to that portion of profits (i.e., the excess of income over expenditure including pro­vision for taxes and depreciation) which are avail­able for distribution as dividend to […]

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