PPSC Accounts Audit Finance MCQs

inventory refers to goods held for sale or use in production

trial balance is the term that matches the description: a list of ledger balances used to check debit–credit equality

non-tax revenue is the term that matches the description: government income from sources other than taxes

5% of 230 = 5/100 × 230 = 11.

Divide both sides by 4: x = 36/4 = 9.

professional scepticism refers to a questioning mind and critical assessment of evidence

payable is the term that matches the description: an amount the entity owes to another party

accrual refers to recognition of income or expense when earned or incurred rather than only when cash moves

Divide both sides by 4: x = 20/4 = 5.

recurrent expenditure refers to regular operating expenditure

25% of 220 = 25/100 × 220 = 55.

gross profit refers to sales revenue minus cost of goods sold