MCQ Collection
AJKPSC Accounts Audit Finance MCQs
Practice AJKPSC Accounts Audit Finance questions with answers and explanations.
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Correct Answer: D. a list of ledger balances used to check debit–credit equality
Explanation:
trial balance refers to a list of ledger balances used to check debit–credit equality
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Correct Answer: C. systematic allocation of a depreciable asset’s cost over useful life
Explanation:
depreciation refers to systematic allocation of a depreciable asset’s cost over useful life
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Correct Answer: A. 1152
Explanation:
Simple interest = P×R×T/100 = 6400×6×3/100 = 1152.
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Correct Answer: B. an audit performed by an independent external auditor
Explanation:
external audit refers to an audit performed by an independent external auditor
