MCQ Collection
FPSC Accounts Audit Finance MCQs
Practice FPSC Accounts Audit Finance questions with answers and explanations.
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Correct Answer: A. unmodified opinion
Explanation:
unmodified opinion is the term that matches the description: an opinion that statements are presented fairly in all material respects
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Correct Answer: A. budget deficit
Explanation:
budget deficit is the term that matches the description: the amount by which expenditure exceeds revenue
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Correct Answer: B. an entry affecting both cash and bank columns in a cash book
Explanation:
contra entry refers to an entry affecting both cash and bank columns in a cash book
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Correct Answer: D. 4
Explanation:
Divide both sides by 3: x = 12/3 = 4.
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Correct Answer: D. dividing incompatible responsibilities among different people
Explanation:
segregation of duties refers to dividing incompatible responsibilities among different people
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Correct Answer: D. external audit
Explanation:
external audit is the term that matches the description: an audit performed by an independent external auditor
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Correct Answer: B. was
Explanation:
The main subject “officer” is singular.
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Correct Answer: B. illegal
Explanation:
“illegal” is the antonym of “legal”.
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Correct Answer: A. the residual interest in assets after deducting liabilities
Explanation:
equity refers to the residual interest in assets after deducting liabilities
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Correct Answer: A. a representation embedded in financial information
Explanation:
management assertion refers to a representation embedded in financial information
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Correct Answer: A. software used to access and display web content
Explanation:
browser refers to software used to access and display web content
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Correct Answer: D. adverb
Explanation:
“Quickly” modifies an action and is an adverb.