Day: March 25, 2026

Accounting Multiple Choice Question – 25 March 2026

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

For the following statement below concerning internal audit, select whether it is true, false, of no importance and / or of no material importance.

  • Internal audit can never be independent of those on whom they are reporting, because they are employees of the company.

Select ONE answer:

  1. True
  2. False
  3. Of no importance
  4. Of no material importance

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 2

  1. Not correct
  2. Correct – Because independence is a concern, internal audit report to the board of directors or the audit committee.
  3. Not correct
  4. Not correct

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