A professional Accountants should comply with relevant laws and regulations and should avoid any action that discredits the profession, this principle known as:
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Question 2 of 30
2. Question
1 points
In which of the following circumstances, there exist a professional duty or light, to disclose the information acquired as a result of Professional relationship:
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Question 3 of 30
3. Question
1 points
Threats occur as a result of the financial or other interests of a professional accountant or as relative is known as:
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Question 4 of 30
4. Question
1 points
Threats occur when a professional accountant may be deterred from acting objectively by threats, actual or perceived is known as
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Question 5 of 30
5. Question
1 points
Mr. A, a practicing Chartered Accountant agreed to select and recruit personal, conduct training programmes for and on behalf of a client.
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Question 6 of 30
6. Question
1 points
Mr.s, a practicing Charted Accountant agreed to “Portfolio management services” to his client M/s D limited.
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Question 7 of 30
7. Question
1 points
Mr. K, a practicing Chartered Accountant at Mumbai has an office in the suburbs of Mumbai. Due to increase in professional work, he opens another office in Mumbai city near church gate, which is at a distance of 45 kms. from existing office. For running new office, he has employed a retired income Tax Commissioner who is not a Chartered Accountant.
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Incorrect
Question 8 of 30
8. Question
1 points
A chartered Accountant who was in practice since last 20 years died in a road accident. His widow sold the practice to Mr.B, another Chartered Accountant in practice for Rs.20 lacs. The price also included the right to use the firm name.
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Incorrect
Question 9 of 30
9. Question
1 points
PQR and Associates, Chartered Accountants, displayed on their website, nature of assignments handled, names of prominent client and fees charged. PQR and Associates.
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Incorrect
Question 10 of 30
10. Question
1 points
Me. A, a practicing Chartered Accountant, is a partner of 4 firms. While printing his personal letter heads, he gave the names of all the firms in which he is a partner.
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Question 11 of 30
11. Question
1 points
Mr. W, a Chartered Accountant, has sent letter under certificate of posting to the previous auditor informing him about his appointment as an auditor before the commencement of audit.
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Incorrect
Question 12 of 30
12. Question
1 points
Mr. P, a practicing Charted Accountant, acting as liquidator of AB and Company, charged his professional fees on percentage of the realization of assets.
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Incorrect
Question 13 of 30
13. Question
1 points
Me. W, a Chartered Accountant, in practice took over as the executive chairman of a software company on 01.04.2018 On 10.04.2018, he applied to the council for permission.
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Incorrect
Question 14 of 30
14. Question
1 points
Mr. S, a practicing Chartered Accountant, gives power of attorney to an employee Chartered Accountant to sign reports and Financial Statements, on his behalf:
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Question 15 of 30
15. Question
1 points
Mr. A, a practicing Chartered Accountant, failed to return the books of account and other documents of client despite many reminders from the client.
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Incorrect
Question 16 of 30
16. Question
1 points
Mr.C, a practicing Chartered Accountant, in the course of audit of listed company discovered serious violations of the provisions of the Companies Act, 2013, informed ROC out of public interest.
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Incorrect
Question 17 of 30
17. Question
1 points
M/s ABC, a firm of Chartered Accountants, received Rs. 2 lacs in March 2018 from a client to pay the Advance tax. However, the firm has used that money for its own purpose and later on adjustment the same with outstanding fees payable.
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Incorrect
Question 18 of 30
18. Question
1 points
A, CA in practice, inspite of repeated requests from the Secretary of the Institute, fails to submit Form 18. Mr. A is guilty of.
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Incorrect
Question 19 of 30
19. Question
1 points
Mr. Z, a Chartered Accountant in practice, certifies the circulation of a monthly magazine without examining the records and relevant document. Mr.Z. is guilty of professional Misconduct under:
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Question 20 of 30
20. Question
1 points
Mr. J, a practicing Chartered Accountant, has identified that ABC Ltd. has taken a loan of 15 lacs from provident fund Account. The said loan was not reflected in the books of account and statements were prepared ignoring the same. MR. J fails to disclose the fact in his report. He is guilty of professional misconduct________________.
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Question 21 of 30
21. Question
1 points
Which of the following is an example of other misconduct?
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Incorrect
Question 22 of 30
22. Question
1 points
Which of the following is an example of professional misconduct?
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Question 23 of 30
23. Question
1 points
M/s ASKS, a firm of Chartered Accountants, having three partners accepts an audit engagement of a private limited company for a fee of Rs. 4,000 only.
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Question 24 of 30
24. Question
1 points
A professional accountant has a continuing duty to maintain professional knowledge and skill at the level required to ensure that a client or employer receives competent professional service based on current developments in practice, legislation and techniques. This principle is known as:
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Question 25 of 30
25. Question
1 points
Threats occur when, because of a relationship, a professional accountant becomes to sympathetic to the interests of others, are known as:
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Question 26 of 30
26. Question
1 points
L, a practicing Chartered Accountant gave 50% of the audit fees received by him to L, who was not a Chartered Accountant, under the nomenclature of office allowance and such an arrangement continued for a number of years. Mr. K is guilty of professional misconduct:
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Question 27 of 30
27. Question
1 points
Mr. ‘E’, a practicing Chartered Accountant, was requested by one of his silent to examine a projection for next five years and also a report on the same. Mr. ‘E’ after having examined the same stated in his report ‘The sources of information, the basis of forecasts and also the major assumptions made in arriving at the forecasts. He also stated that he does not vouch for the accuracy of the forecasts.
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Question 28 of 30
28. Question
1 points
A member of the institute shall not accept in a year more than the specified number of tax audits under section 44AB of the Income Tax Act. Mr. Gaurave is a partner in M/s XYZ & Co., a firm of signed 290 tax audit reports consisting of both corporate and non-corporate assesses.
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Question 29 of 30
29. Question
1 points
A member of the Institute who is an employee shall exercise due diligence and shall not be grossly negligent in the conduct of his duties. This requirement is prescribed in:
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Question 30 of 30
30. Question
1 points
A member of the Institute shall not express his opinion on financial statements of any business or enterprise in which one or more persons who are his “relatives” has/have, either by themselves or in conjunction with such member, a substantial interest in the said business or enterprise. Relative for this purpose means
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