MCQ Collection
KPPSC Accounts Audit Finance MCQs
Practice KPPSC Accounts Audit Finance questions with answers and explanations.
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Correct Answer: D. current assets divided by current liabilities
Explanation:
current ratio refers to current assets divided by current liabilities
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Correct Answer: B. 42
Explanation:
25% of 170 = 25/100 × 170 = 42.
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Correct Answer: C. a questioning mind and critical assessment of evidence
Explanation:
professional scepticism refers to a questioning mind and critical assessment of evidence
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Correct Answer: D. legal authority to spend public money for specified purposes
Explanation:
appropriation refers to legal authority to spend public money for specified purposes
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Correct Answer: B. materiality
Explanation:
materiality is the term that matches the description: the significance of information to users’ decisions
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Correct Answer: D. analytical procedure
Explanation:
analytical procedure is the term that matches the description: evaluation of plausible relationships among financial and non-financial data
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Correct Answer: B. non-tax revenue
Explanation:
non-tax revenue is the term that matches the description: government income from sources other than taxes
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Correct Answer: D. a financial plan of expected revenue and expenditure
Explanation:
budget refers to a financial plan of expected revenue and expenditure
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Correct Answer: C. existence assertion
Explanation:
existence assertion is the term that matches the description: the assertion that recorded assets or liabilities exist
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Correct Answer: C. 11
Explanation:
Divide both sides by 2: x = 22/2 = 11.
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Correct Answer: A. professional scepticism
Explanation:
professional scepticism is the term that matches the description: a questioning mind and critical assessment of evidence
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Correct Answer: C. presentation software
Explanation:
presentation software is the term that matches the description: software used to create slide-based visual presentations