DT - Basic concepts

CA Final DT - Ye Wale case m niche do views likhe hain, main ans m alag & notes m alag .... Main ans m turned down the application ka kuch likha hi nhi & cash release karne ko keh rahe hain

& Notes m bol rahe h ki AO not satisfied to cash release nhi hogi,

Descripve hoga to sab likh denge

Ye case MCQ m aaye to ans hoga ?

If option is

A. All Cash will be released, as application file within time

B. Cash will release as application file within time, after reducing the existing liability of tax

C. No, cash will not release as AO take down the application, he is not satisfied

D. even though AO take down application, cash will release after reducing tax liabilities if any

Audit evidence simple level MCQs

Reporting - simple level MCQs by ICAI

We are back with MCQs

Audit CA final ICAI new case scenario booklet.

Case Scenario 1

Q. 1. Though the company had significant growth in the past years, it has not
done well over the last two financial years. As per SA 570, there are certain
events or conditions that individually or collectively may cast significant
doubt about the going concern assumptions. In order to assess whether
MINSAN Ltd is a going concern or not, which of the following audit
procedures should NOT be performed?

(a) Analysis and discussion with the management of the company to
find out whether installation of new plant and machinery would
enable the company to reduce the cost of production.

(b) Inquire the company’s legal counsel regarding existence of legal
litigation and claim against the company, reasonableness of
management assessments of their outcome and estimate of their
financial implication.

(c) Evaluating management’s future plan and strategy to increase the
market share of the product.

(d) Analysis and discuss the company’s cash flow and profit of the
previous years with the projected accounts.