MCQ Collection
KPPSC Accounts Audit Finance MCQs
Practice KPPSC Accounts Audit Finance questions with answers and explanations.
Choose an option to check your answer.
Correct Answer: D. the assertion that recorded assets or liabilities exist
Explanation:
existence assertion refers to the assertion that recorded assets or liabilities exist
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Correct Answer: D. a tax imposed directly on income, wealth or profits
Explanation:
direct tax refers to a tax imposed directly on income, wealth or profits
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Correct Answer: B. a representation embedded in financial information
Explanation:
management assertion refers to a representation embedded in financial information
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Correct Answer: C. 1440
Explanation:
Simple interest = P×R×T/100 = 7200×5×4/100 = 1440.
