MCQ Collection
PPSC Accounts Audit Finance MCQs
Practice PPSC Accounts Audit Finance questions with answers and explanations.
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Correct Answer: D. cash flow statement
Explanation:
cash flow statement is the term that matches the description: a statement of cash inflows and outflows by activity
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Correct Answer: D. were
Explanation:
With neither...nor, the verb agrees with the nearer plural subject “assistants”.
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Correct Answer: C. had read
Explanation:
Reported speech about an earlier action commonly uses past perfect.
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Correct Answer: D. an entry affecting both cash and bank columns in a cash book
Explanation:
contra entry refers to an entry affecting both cash and bank columns in a cash book
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Correct Answer: C. management assertion
Explanation:
management assertion is the term that matches the description: a representation embedded in financial information
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Correct Answer: D. requiring approval before specified transactions occur
Explanation:
authorisation control refers to requiring approval before specified transactions occur
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Correct Answer: D. gross profit
Explanation:
gross profit is the term that matches the description: sales revenue minus cost of goods sold
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Correct Answer: B. an opinion that statements are presented fairly in all material respects
Explanation:
unmodified opinion refers to an opinion that statements are presented fairly in all material respects
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Correct Answer: C. simple
Explanation:
“simple” is the antonym of “complex”.
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Correct Answer: D. delicate
Explanation:
“delicate” is a synonym of “fragile”.
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Correct Answer: D. credit
Explanation:
credit is the term that matches the description: the right side of a ledger account
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Correct Answer: A. However, the test continued.
Explanation:
An introductory conjunctive adverb is followed by a comma here.