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Category: Senior Auditor

The most high option price in financial planning , will lead to :

7 Jun 2022 Pakmcqsguru
  1. Longer option period
  2. Smaller option period
  3. Lesser price
  4. None

Leave a comment Senior Auditor

Becoming out of date or absolute in accounting is known as?

7 Jun 2022 Pakmcqsguru
  1. Amortization
  2. Obsolescence
  3. Depletion
  4. None

Leave a comment Senior Auditor

Under declining balance method depreciation is calculated on ?

7 Jun 2022 Pakmcqsguru
  1. Original value
  2. Book value
  3. Scrape value
  4. None

Leave a comment Senior Auditor

Definition of Salvage value is :

7 Jun 2022 Pakmcqsguru
  1. Definition of sale price of an asset
  2. Cash to be received when the life of the asset end
  3. Estimated disposal value
  4. None

Leave a comment Senior Auditor

The portion of the cost expires during a year is :

7 Jun 2022 Pakmcqsguru
  1. Cost
  2. Expense
  3. Expenditure
  4. None

Leave a comment Senior Auditor

From following which one is an example of unearned income ?

7 Jun 2022 Pakmcqsguru
  1. Cash paid to the supplier
  2. Advance received from the bank
  3. Advance received from the customer for a purchase order placed by him
  4. None

Leave a comment Senior Auditor

The purpose of adjusting entries ?

7 Jun 2022 Pakmcqsguru
  1. Assign revenue to the period in which they are earned
  2. Help to properly measure the period’s net profit/loss
  3. Bring assets and liability accounts to correct balances
  4. All

Leave a comment Senior Auditor

The requirements of an audit report for a banking company in Pakistan is :

7 Jun 2022 Pakmcqsguru
  1. Under banking company ordinance 1962
  2. Under companies ordinance 1984
  3. Both
  4. None

Leave a comment Senior Auditor

The effect of every adjusting entry is on :

7 Jun 2022 Pakmcqsguru
  1. Income statement account only
  2. Balance sheet account only
  3. Both
  4. None

Leave a comment Senior Auditor

____ should be debited when goods returned by customers.

7 Jun 2022 Pakmcqsguru
  1. Sale income account
  2. Sales account
  3. Returned inward account
  4. None

Leave a comment Senior Auditor
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