MCQ Collection
KPPSC Accounts Audit Finance MCQs
Practice KPPSC Accounts Audit Finance questions with answers and explanations.
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Correct Answer: D. authorisation control
Explanation:
authorisation control is the term that matches the description: requiring approval before specified transactions occur
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Correct Answer: C. recognition of income or expense when earned or incurred rather than only when cash moves
Explanation:
accrual refers to recognition of income or expense when earned or incurred rather than only when cash moves
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Correct Answer: C. the significance of information to users’ decisions
Explanation:
materiality refers to the significance of information to users’ decisions
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Correct Answer: A. receivable
Explanation:
receivable is the term that matches the description: an amount owed to the entity
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Correct Answer: A. progressive tax
Explanation:
progressive tax is the term that matches the description: a tax whose effective rate rises as the tax base increases
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Correct Answer: B. 29
Explanation:
21 + 8 = 29.
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Correct Answer: D. 5
Explanation:
Divide both sides by 4: x = 20/4 = 5.
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Correct Answer: B. revenue expenditure
Explanation:
revenue expenditure is the term that matches the description: spending whose benefit is mainly consumed in the current period
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Correct Answer: B. a separate copy of data used for recovery
Explanation:
backup refers to a separate copy of data used for recovery
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Correct Answer: D. delicate
Explanation:
“delicate” is a synonym of “fragile”.
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Correct Answer: B. inquiry
Explanation:
inquiry is the term that matches the description: seeking information from knowledgeable persons
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Correct Answer: D. information used by an auditor to support conclusions
Explanation:
audit evidence refers to information used by an auditor to support conclusions