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Auditing
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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
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Advance Accounting and Auditing
Completion of a job is a result in:
DR Finished goods CRWIP
DR Cost of goods CR Finished goods
DR WIP CR FOH control
DR FOH control CR FOH applied
Author:
rikazzz
Comment
Annual Budget
Which of the following is not an explanation for rising profit occurring at the same time as a cash storage?
Repayment of loan
Purchase of new premises
Disposal of fixed assets for a profit
Rapid expansion sales and output
Author:
rikazzz
Comment
Annual Budget
Which government income is included in revenue budget?
Non-tax-revenue
Tax-revenue
Both A and B
None of these
Author:
rikazzz
Comment
Settlement of Audit Objections
Tolerable error, is the maximum monetary error that the auditor is prepared to accept in the population and still conclude that audit objective has been achieved, is directly related to:
Sample size
Audit risk
Materiality
Expected error
Author:
rikazzz
Comment
Advance Accounting and Auditing
When preparing a production budget, the quantity to be produced equals:
Sales quantity + opening stock +closing stock
Sales quantity – Opening stock+ Closing stock
Sales quantity -Opening stock-Closing stock
Sales quantity
Author:
rikazzz
Comment
Advance Accounting and Auditing
If sales increase by 10% from year 1 to 2 and cost of goods sold increase only 6% the gross profit on sales will increase by:
0.04
0.1
0.06
None of these
Author:
rikazzz
Comment
Advance Accounting and Auditing
Audit program is prepared by:
Audit staff
Chief accountant
Directors
Audit management
Author:
rikazzz
Comment
Settlement of Audit Objections
Which of the following would prevent double payment of the same voucher:
The person signing the Cheque should cancel the supporting documents
Cheques should be signed by at best two persons
The data of payment of vouchers of similar nature should be the same or close to each other
All of the above
Author:
rikazzz
Comment
Annual Budget
Actual working hours600; budgeted production of units; standard hours per unit 10; standard hours for budgeted production 880. Actual production 75 units. Capacity ratio is:
68.18% Favourable.
85.23% Favourable.
125% Favourable.
None of these
Author:
rikazzz
Comment
Annual Budget
What is ‘zero based budgeting’?
Infinite deficit financing
No curtailment in unproductive expenditure
No appraisal of new programs
Preparation of new budget every time
Author:
rikazzz
Comment
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