MCQ Collection
PPSC Accounts Audit Finance MCQs
Practice PPSC Accounts Audit Finance questions with answers and explanations.
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Correct Answer: D. public debt
Explanation:
public debt is the term that matches the description: outstanding borrowing of government
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Correct Answer: D. concise
Explanation:
“concise” is a synonym of “brief”.
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Correct Answer: D. budgeting for long-term assets and development expenditure
Explanation:
capital budget refers to budgeting for long-term assets and development expenditure
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Correct Answer: D. valuation assertion
Explanation:
valuation assertion is the term that matches the description: the assertion that items are recorded at appropriate amounts
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Correct Answer: A. swift
Explanation:
“swift” is a synonym of “rapid”.
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Correct Answer: A. 37
Explanation:
15% of 250 = 15/100 × 250 = 37.
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Correct Answer: B. a comparison of cash-book and bank-statement balances
Explanation:
bank reconciliation refers to a comparison of cash-book and bank-statement balances
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Correct Answer: D. 10
Explanation:
Divide both sides by 5: x = 50/5 = 10.
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Correct Answer: A. exclude
Explanation:
“exclude” is the antonym of “include”.
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Correct Answer: B. government income raised through taxes
Explanation:
tax revenue refers to government income raised through taxes
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Correct Answer: C. working capital
Explanation:
working capital is the term that matches the description: current assets minus current liabilities
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Correct Answer: D. existence assertion
Explanation:
existence assertion is the term that matches the description: the assertion that recorded assets or liabilities exist