FPSC Accounts Audit Finance MCQs

subsidy refers to financial support intended to reduce cost or encourage an activity

adverse opinion is the term that matches the description: an opinion that statements are materially and pervasively misstated

“simple” is the antonym of “complex”.

receivable refers to an amount owed to the entity

segregation of duties is the term that matches the description: dividing incompatible responsibilities among different people

authorisation control refers to requiring approval before specified transactions occur

debit is the term that matches the description: the left side of a ledger account

10% of 90 = 10/100 × 90 = 9.

liability refers to a present obligation expected to require an outflow of resources

The sum is 217 and there are 7 values, so the average is 31.

firewall is the term that matches the description: a control that filters network traffic according to rules

5% of 230 = 5/100 × 230 = 11.