Articles Tagged: auditing

Question:A Partnership, In Today Pakistan, Under The Current Law Can Have The Following Number Of Partners? a. 50 b. 20 c. 100

Question: A Good Cost Accounting System Is? a. If it computes estimated cost only b. If it cannot be reconciled with financial accounts c. If it enables management to increase productivity and rationalize cost structure

Question: Flexible Budget Is A Budget With The Following Features? a. Changes with volume of production b. Changes with variable expenses c. Changes in Direct material

Question: An Auditor Is Liable For His Annual Audit Of Accounts? a. Creditors b. Bankers c. Owners

Question: Sources Of Funds Can Be Increased By? a. Describing selling prices b. Increasing expenditure c. None of above

Question: Double Entry Book Keeping Was Fathered By? a. F. W. Taylor b. Henry Fayol c. Lucas Pacioli

Question: Stratified Audit Sample Means? a. Randomly selected items for audit b. Purposively selected items for audit c. Items carefully selected from each group

Question: The Requirements Of An Audit Report For A Banking Company In Pakistan Is Under? a. Under the Banking Companies Ordinance, 1962. b. Under the Companies Ordinance, 1984. c. Under (a) and (b) above

Question: In Insurance The Following Profit And Loss Accounts Are Prepared? a. Separate for Fire, Marine, and Accidents etc. b. Consolidated for Fire, Marine, and Accidents etc. c. None of these

Question: Income Tax Is Levied On? a. Agricultural Income b. Presumptive Income c. None of above