Skip to content
MCQtimes.com
GK
Pakistan Studies
Current Affairs
Islamic Studies
English
MCQtimes.com
Toggle Menu
Auditing
Home
/
Auditing
- Page 54
Advance Accounting and Auditing
90
Scrutiny of Record for Audit Purpose
44
Mini Budget
18
Audit Evidence
1
Audit
82
Annual Budget
209
Internal Control
9
Settlement of Audit Objections
234
Show/Hide Answers
Advance Accounting and Auditing
In general terms, financial assets appear in the Balance sheet an:
Face Value
Current Cash Value
Cash
Estimated future sales value
Author:
rikazzz
Comment
Settlement of Audit Objections
The receipt of goods must be entered in:
goods inward book
goods outward book
receipt of Stores
cash payment register
Author:
rikazzz
Comment
Annual Budget
An increase in national income is likely to:
Decrease tax receipts
Worsen the balance of trade
Automatically cause an increase in government spending
Cause an increase in injections into the economy
Author:
rikazzz
Comment
Scrutiny of Record for Audit Purpose
In case of unclaimed wages, the auditor should examine whether
the amount has been deposited in a separate bank account
deposited with the cashier
held in a safe deposit box
all of these
Author:
rikazzz
Comment
Annual Budget
If there is cyclical unemployment in the economy the government might:
Increase interest rates
Encourage savings
Cut taxes
Reduce government spending
Author:
rikazzz
Comment
Annual Budget
If we deduct grants for creation of capital assets from revenue deficit, we arrive at the concept of:
Primary deficit
Net fiscal deficit
Budgetary deficit
Effective revenue deficit
Author:
rikazzz
Comment
Settlement of Audit Objections
Which of the following is not true with regard to verification of assets:
It invoices substantiation of occurrence of transactions
Its objective is to establish existence, ownership, possession, valuation and disclosure of assets
The auditor has to form an opinion on different aspects
All are true
Author:
rikazzz
Comment
Annual Budget
If one’s cost of capital were 10 per cent, what is the maximum amount he can afford to pay for a 10-year mortgage note that would yield annual payments of Rs. 12,000 (including both principal and interest)?
Rs. 73,740
Rs. 43,770
Rs. 74,730
None of these
Author:
rikazzz
Comment
Settlement of Audit Objections
Internal controls and internal check are:
one and the same
different
internal control includes internal check
None of the above
Author:
rikazzz
Comment
Annual Budget
In a floating exchange rate system:
The government intervenes to influence the exchange rate
The exchange rate should adjust to equate the supply and demand of the currency
The balance of payment should always be in surplus
The balance of payments will always equal to government budget
Author:
rikazzz
Comment
Page navigation
Previous Page
Previous
1
…
52
53
54
55
56
…
69
Next Page
Next
Go to Page
Light
Dark
GK
Pakistan Studies
Current Affairs
Islamic Studies
English