- Internal Audit System
- Continuous Audit
- Internal Check System
- None of these
- b
-
Concurrent Audit is a systematic and timely verification of financial transaction on daily basis to mitigate the errors.
Senior Auditor (SA)
Senior Auditor (SA) Solved Past Papers are included in this section of ETEST Academy’s Website. All Senior Auditor (SA) Accountant General AG Office and Pakistan Military Accounts Department PMAD Current and Past Papers have been posted in this section. Our team updates ETEST Website regularly.
The risk of management fraud increases in the presence of:
- Substantial increase in sale
- Management incentive based on sale done in a quarter
- Improved Internal Control System
- Frequent Changes in Supply
- b
The main object of an audit is:
- Detection and Prevention of Errors & Frauds
- Expression of Opinion
- Both A & B
- Depends on the type of the Audit
- d
In Pakistan, Financial Statement of limited companies are prepared in according with?
- Internal Accounting Standards adopted in Pakistan.
- Companies Ordinance 1984
- Both A & B
- None of these
- c
Which of the following statement is true?
- Liabilities + Asset = Capital
- Capital + Liabilities = Asset
- Asset + Capital = Liabilities
- None of these
- b
The cost of the asset after expiry of its useful life is called:
- Written down value
- Depreciation
- Residual Value
- Expired Value
- c
Calculate the gross profit if sale Rs.60000 , cost of sales Rs.50000, Opening Stock Rs.10000, Purchases Rs.40000, Wages Rs.20000 and office rent is Rs.10000.
- Rs.40000
- Rs.30000
- Rs.20000
- Rs.10000
- d
Trading Account, Profit Account, Loss Account and Balance Sheet is prepared form :
- Cash book and Bank Book
- Trial Balance
- Ledger Balance
- None of these
- b
A business asset of Rs.44312 and owner’s equity Rs.13210. What is amount of liability?
- 57522
- 31102
- 44312
- None of the Above
- b
Stock in trade is a:
- Intangible Asset
- Current Asset
- Fixed Asset
- None of these
- b
