MCQ Collection
PPSC Accounts Audit Finance MCQs
Practice PPSC Accounts Audit Finance questions with answers and explanations.
Choose an option to check your answer.
Correct Answer: D. current assets divided by current liabilities
Explanation:
current ratio refers to current assets divided by current liabilities
Choose an option to check your answer.
Correct Answer: B. profit remaining after all relevant expenses
Explanation:
net profit refers to profit remaining after all relevant expenses
Choose an option to check your answer.
Correct Answer: D. 29
Explanation:
21 + 8 = 29.
Choose an option to check your answer.
Correct Answer: D. completeness assertion
Explanation:
completeness assertion is the term that matches the description: the assertion that all required items have been recorded
Choose an option to check your answer.
Correct Answer: D. income arising from ordinary activities
Explanation:
revenue refers to income arising from ordinary activities
Choose an option to check your answer.
Correct Answer: C. the suffix that commonly indicates a file type
Explanation:
file extension refers to the suffix that commonly indicates a file type
Choose an option to check your answer.
Correct Answer: B. a portable document format designed to preserve layout
Explanation:
PDF refers to a portable document format designed to preserve layout
Choose an option to check your answer.
Correct Answer: D. freedom from relationships that compromise objective judgement
Explanation:
independence refers to freedom from relationships that compromise objective judgement
Choose an option to check your answer.
Correct Answer: D. an audit performed by an independent external auditor
Explanation:
external audit refers to an audit performed by an independent external auditor
Choose an option to check your answer.
Correct Answer: D. URL
Explanation:
URL is the term that matches the description: the address of a resource on the web
Choose an option to check your answer.
Correct Answer: D. spending that creates or improves a long-term asset
Explanation:
capital expenditure refers to spending that creates or improves a long-term asset
Choose an option to check your answer.
Correct Answer: A. 29
Explanation:
The sum is 174 and there are 6 values, so the average is 29.