Window dressing implies_______________?
Correct answer: D. Over Valuation of assets
- A. Curtailment of expenses
- B. Checking of Wastages
- C. Under valuation of assets
- D. Over Valuation of assets
Explanation
Window dressing is the deliberate presentation of accounts to make financial performance or position appear better than it really is, commonly by overstating assets or understating liabilities. Overvaluation of assets is therefore a typical example.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
About Auditing
Auditing examines accounting records and financial statements to determine whether they present a reliable and fairly stated position. The subject covers audit objectives, internal controls, audit evidence, materiality, vouching, verification, working papers, auditor independence, audit reports, and the distinction between an audit and accounting or investigation.
Practise Auditing
162 free Auditing MCQs from Accounting, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Accounting questions like this
Accounting is on 2 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.