Articles Tagged: auditing

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

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: 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