MCQ Collection
KPPSC Accounts Audit Finance MCQs
Practice KPPSC 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: D. 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: B. 27
Explanation:
The sum is 216 and there are 8 values, so the average is 27.
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Correct Answer: D. revenue
Explanation:
revenue is the term that matches the description: income arising from ordinary activities
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Correct Answer: D. a long, unique and hard-to-guess authentication secret
Explanation:
strong password refers to a long, unique and hard-to-guess authentication secret
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Correct Answer: B. swift
Explanation:
“swift” is a synonym of “rapid”.
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Correct Answer: C. current assets minus current liabilities
Explanation:
working capital refers to current assets minus current liabilities
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Correct Answer: B. evaluation of plausible relationships among financial and non-financial data
Explanation:
analytical procedure refers to evaluation of plausible relationships among financial and non-financial data
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Correct Answer: A. budget
Explanation:
budget is the term that matches the description: a financial plan of expected revenue and expenditure
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Correct Answer: B. defend
Explanation:
“defend” is a synonym of “justify”.
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Correct Answer: B. inventory remaining at the end of an accounting period
Explanation:
closing inventory refers to inventory remaining at the end of an accounting period
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Correct Answer: A. a statement of revenue, expenses and profit over a period
Explanation:
income statement refers to a statement of revenue, expenses and profit over a period