RaviRavi Staff asked 10 months ago
1 Answers
RaviRavi Staff answered 10 months ago

546. The auditor shall determine whether to use the
work of an auditor’s expert. Considerations when
deciding whether to use an auditor’s expert may
include, the nature and significance of the matter.
Which from the following can be considered
most significant if the auditor is thinking of
appointing an auditor’s expert for obtaining
evidence with respect to oil well?
a) Valuation of Oil well is 8000 and total asset
valuation is 10000
b) Oil well is fully written off last year
c) Oil well is sold last year
d) Oil well in planned in next 5 year
Answer: a) Valuation of Oil well is 8000 and total asset
valuation is 10000
 
MCQ revised for better understanding:
The auditor shall determine whether to use the work of an auditor’s expert. Considerations when deciding whether to use an auditor’s expert may include,the nature and
significance of the matter.Which from the following can be considered most significant if the auditor is thinking of appointing a auditor’s expert for obtaining evidence with respect to oil well?
a)Valuation of Oil well is 8000 crore and total asset valuation is 10000 crore
b) Oil well is fully written off last year
c) Oil well is sold last year
d)Oil well in planned in next 5 year
Answer: a)Valuation of Oil well is 8000 crore and total asset valuation is 10000 crore

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