Articles Tagged: auditing

Question: Deferred Taxation Is? a. Fixed Asset b. Fixed Liabilities c. Parts of Owners Equity

Question: Consolidation Of Subsidiary Accounts In The Balance Sheet Of A Unlisted Holding Company Is At Present In Pakistan? a. Compulsory b. Voluntary c. Required

Question: Current Ratio Is Calculated As? a. Fixed Assets/Current Liabilities b. Current Liabilities/Current Assets c. Current Assets/Current Liabilities

Question: In 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? a. Rupee One b. Rupee Zero c. None of these

Question: If A Firm Has Paid Super-Tax, Its Partners May Follow Any One Of The Following Behaviours? a. No need to pay income tax, even if the income exceeds the taxable limit. b. Pay income tax, even if the income does not exceed the taxable income. c. Pay income tax as required under the law.

Question: Funds Flow Statement And Sources And Application Statement Are? a. Synonymous b. Antagonistic c. None of these

Question: Operating Profit Is? a. Profit after deducting financial costs b. Profit after deducting taxes c. Profit after deducting normal operating expenses including depreciation

Question: Balance Sheet Is Always Prepared? a. For the year ended b. As on the specified date c. None of these

Question: Fixed Cost? a. Changes with production b. Never changes even if production capacity is doubled c. None of the above

Question: Every Limited Company In Pakistan Is Required By Law To Include The Following Along With Financial Reports? a. Ratio Analysis b. Chairman’s Review c. None of these