MCQ Collection
FPSC Accounts Audit Finance MCQs
Practice FPSC Accounts Audit Finance questions with answers and explanations.
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Correct Answer: D. two-factor authentication
Explanation:
two-factor authentication is the term that matches the description: login verification using two different factors
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Correct Answer: A. spending that creates or improves a long-term asset
Explanation:
capital expenditure refers to spending that creates or improves a long-term asset
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Correct Answer: C. materiality
Explanation:
materiality is the term that matches the description: the significance of information to users’ decisions
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Correct Answer: C. provision
Explanation:
provision is the term that matches the description: an estimated liability of uncertain timing or amount
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Correct Answer: A. sales revenue minus cost of goods sold
Explanation:
gross profit refers to sales revenue minus cost of goods sold
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Correct Answer: B. The quality of the files is good.
Explanation:
The head noun “quality” is singular.
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Correct Answer: C. 25
Explanation:
The sum is 175 and there are 7 values, so the average is 25.
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Correct Answer: A. the right side of a ledger account
Explanation:
credit refers to the right side of a ledger account
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Correct Answer: D. 42
Explanation:
36 + 6 = 42.
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Correct Answer: B. delicate
Explanation:
“delicate” is a synonym of “fragile”.
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Correct Answer: B. bad debt
Explanation:
bad debt is the term that matches the description: a receivable considered uncollectible
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Correct Answer: D. a questioning mind and critical assessment of evidence
Explanation:
professional scepticism refers to a questioning mind and critical assessment of evidence