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Past Papers Of Senior Auditor|Senior Auditor Solved MCQs.

..Past Papers Of Senior Auditor|Senior Auditor Solved MCQs

Here is the best way to prepared Past Papers Of Senior Auditor for all coming soon auditing test 2019. Senior Auditor Solved MCQs for Test Preparation. These are Most Repeated and Common MCQs in All Auditing Exams such NTS Test, PTS Test, FPSC Test. and these are the Past MCQs of the Senior Auditor Exam in FPSC. Past Papers Of Senior Auditor. Senior Auditor Solved MCQs for 2019 test preparation.

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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?

Ans. Synonymous

Q:3 Depreciation in spirit is similar to?

Ans. Amortization

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…?

Ans. 20

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?

Ans Required

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?

Ans. Owner

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