- Detection and Prevention of Errors & Frauds
- Expression of Opinion
- Both A & B
- Depends on the type of the Audit
- d
2018
All Solved Past Papers 2018 are included in this section of ETEST Academy’s Website. All Solved MCQs of 2018 of All Departments. All Posts and All Testing Services are also included in this section.
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
Auditing is a branch of:
- Natural Science
- Abstract Science
- Abstract Science
- Social Science
- d
Debenture represents:
- Direct Share in business
- Long Term liability of a business
- Long term capital of a business
- None of these
- b