Which of the following statements are true?
A) The Union and State Governments follow cash based accounting while Corporations and autonomous bodies mainly follow accrual based accounting
B) The Union and State Governments follow accrual based accounting while Corporations and autonomous bodies mainly follow cash based accounting
C) The Union and State Governments and Corporations and autonomous bodies follow accrual based accounting
D) The Union and State Governments and Corporations and autonomous bodies follow cash based accounting
Correct Answer:
Verified
Q2: In the context of Government Accounts in
Q3: In the context of Government Accounts in
Q4: Which of the following statements is false?
A)Planning
Q5: Misclassification of revenue expenditure resulting in a
Q6: The risks identified from top down review
Q7: The process for identifying material risk factors
Q8: The three levels of substantive procedures that
Q9: The extent of audit procedures and the
Q10: The document that presents an analysis of
Q11: Instructions to audit team members on the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents