..Past Papers Of Senior Auditor|Senior Auditor Solved MCQs
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Past Papers Of Senior Auditor|Senior Auditor Solved MCQs
Q:1 Double-entry book-keeping was fathered by…
Ans. Lucas Pacioli
Q:2 Funds Flow Statement and sources and application statements are?
Q:3 Depreciation in spirit is similar to?
Q:4 Balance Sheet is always prepared..?
Ans. As on a specified date
Q:5 In Insurance, the following Profit and Loss Accounts are prepared..?
Ans. Consolidated for Fire, Marine, and Accidents, etc
Q:6 Partners in Pakistan can today be fixed at the following numbers…?
Q:7 The Flexible budget has the following features…?
Ans. Changes with the volume of production
Q:8 Break-Even can be calculated as under….?
Ans. I- VC TR
Q:9 Quick Ratio can be computed as under…?
Ans. Current Assets/ Current Liabilities
Q:10 In the straight-line method of depreciation, the written down value of a fixed asset will be at the end of the life of the asset as under…?
Ans. Rupee zero
Past Papers Of Senior Auditor|Senior Auditor Solved MCQs|Test Preparation 2019.
Q:11 Sales budget must be prepared…?
Ans. Based on Sales forecasts of the market
Q:12 Consolidation of subsidiary accounts in the balance sheet of an unlisted Holding company is present in Pakistan?
Q: 13 Retained earnings are synonymous to?
Ans. Accumulated profit and loss account
Q:14 The requirements of an audit report for a Banking Company in Pakistan is under?
Ans. Under the Companies Ordinance, 1984
Q: 15 Deferred Taxation is…?
Ans. Part of Owners Equity
Q: 16 Investment Corporation of Pakistan follows..?
Ans. None of these
Q:17 Directors Report is —- in respect of financial report constituent?
Ans.Mandatory for a limited Company
Q:18 Every limited Company in Pakistan is required by law to include the following along with financial reports?
Ans. Chairman’s Review
Q: 19 Cash budget excludes the following…?
Ans. Non-Cash items
Q: 20 NGOs are legally required to…?
Senior Auditor Solved MCQs
Ans. Prepare accounts in a prescribed manner under the law
Q: 21. Fixed Cost
Ans Never changes even if production capacity is doubled.
Q: 22. Conversion cost is…?
Ans. Labour Cost + Overhead Cost
Q: 23. Process Costing is relevant to…?
Ans. Cement industry
Q: 24. Operating Profit is…?
Ans. Profit after deducting normal operating expenses including depreciation
Q: 25. A good Cost Accounting System is?
Ans. If it enables management to increase productivity and rationalize cost structure
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Q: 26. Verification includes….?
Ans. None of the above
Q: 27. Does stratified audit sample mean?
Ans. Randomly selected items for audit
Q: 28. Internal Control is totally synonymous with?
Ans. None of the above
Q: 29. The audit of a bank is generally conducted through?
Ans. Routine checking
Q: 30. The auditor is liable for his annual audit of accounts?