Auidit Paper

7/26/2019 Auidit Paper

1/6

Preparation test For ____________________ Total Marks 100

Student Name ______________________ Time Allowed: 90 Mins.

Instructor Name

PART-English

1.More of us would die than out of it.

(a) Verb (b) pronoun (c) adverb (d)Adjective

2. Identify the correct word :

(a) Coordination (b) Corridination (c) Coordention (d)coardiantion

Prepositions

3.The players agreed to abide _______ the referees decision:

(a) With (b) by (c) in (d) into

4.A junior cashier has absconded ________ ten thousand rupees.

(a) With (b) for (c) in (d) to

5.He was abstained ______ salted food by the doctor.

(a) from (b) for (c) in (d) to

6.The new teacher was very slow to adapt ________ the unusual rules of the school

(a) into (b) for (c) in (d) to

7.He became addicted ________drugs quite an early stage

(a) into (b) for (c) in (d) to

Synonyms

8.Bilingual

(a) clear inexpression of ideas (b) of the brain (c) talkative (d) using two

languages

9.Misapprehension: (a) Wrong (b)Mistaken idea (c) Trickery (d) Unfair Seizure10.Waive: (a) abandon(b) demand (c) anticipate (d) lapse

11.Warrant: (a) special guard (b) written authorization (c) national

emergency(d) small payment

12. Zest: (a) Enthusiasm (b) scrape (c) morose (d) furry

Antonyms

13.Choke: (a) Air (b) strangle (c) strife (d) none of these

14.Soul: (a) matter (b) vital (c) ego (d) mind

15.Subsequent (a) preceding (b) following (c) current (d) future

16.Superficial: (a) artificial (b) deep (c) shallow (d) real

17.Tacit: (a) Written(b) order (c) oral (d) understanding

18.Tedious: (a) lively (b) pleasant (c) lovely (d)gay

Correction

19.(a) He speaks always the truth

(b) He speaks the truth always

(c) He always speaks the truth

(d) Always he speaks the truth

20.(a) I expect he will grant me an interview(b) I think he will grant me interview


2/6

(c) I hope he will grant me an interview

(d) I hope he shall grant me interview

PART- Subject

21.What is the amount earned from goods and services called?

(a) Growth (b) Revenue (c) Credit (d) profit

22.A cost that changes with a number of units produced, but that can never be zero, is

what kind of cost? (a) mixed cost(b) variable (c) fixed cost (d) product

23.The federal budget of Pakistan includes::(a)Direct taxes and indirect taxes(b)Proportional and progressive taxes

(c)Simple and difficult taxes(d)(a) & (b) of above

24.Income tax in Pakistan is(a)Direct and progressive (b)Direct and proportional (c)Indirect

and progressive(d)Indirect and proportional

25.Cash budget excludes the following:

(a) Non-Cash items

(b) Cash items

(c) Purchase on Credit items.

26.Fixed Cost:

a. Changes with production

b. Never changes even if production capacity is doubled

c. None of the above

27.Process Costing is relevant to:

a. Cement industry

b. ob !rder cost oriented Pro"ects

c. None of the above

28.An auditor is liable for his annual budget accounts to (a) Owners(b) Creditors (c)

Bankers (d) none

29.Sources of funds can be increased by (a) Decreasing selling price(b) Increasingexpenditure (c) None of the above (d)

30.#he master budget includes

$a% as income statement $b% a balance sheet $c% a cash budget $d% all of these

31.&hich one of the following account would usually have credit balance'

$a% Cash $b% (ccount payable $c% )*uipment $d% +alaries expense

32.Which of the following is control account,

Capital Prepaid rentAccounts receivable Salary Payable

33.The procuring agency shall keep all information regarding the bid evaluation

confidential until the time of announcement of the evaluation report in accordance

with the requirements. Rule 32 Rule 33 Rule 34 Rule 35

34.What does the certification CA stands for?

Accrued revenue Chartered accountant Control Account none

35.________means a person who submits a bid;

bid biddercontractor competitive bidding

36.________________ means a procedure leading to the award of contract where by all the

persons, firms, companies, organizations may bid for the contract and includes both

national bidding and international bidding;

bid biddercontractor competitive bidding37.___________ means a person, consultant, firm or company or an organization who


3/6

undertake to supply goods services or works

bid biddercontractor competitive bidding

38.____________ means procurement of the same commodity from the same source

without completion and include enhancement of contract

emergency repeat ordersuppliers Value for money

39.If the procuring agency has rejected all bids under rule 33 it may called for

emergency repeat orders re-bidding value for money

40.The Annual Financial statement or the statement of the estimated receipts andexpenditure of the Govt. in respect of each financial year is popularly known as

production budget contributionbudget sales

41.In order to communicate, motivate and delegate managers need what kind of skill

political skills conceptual skills technical skills interpersonal skills

42.If annual consumption is 9000 units, the cost of ordering is 120 and the storage and

holding cost per unit is 1.5 then the economic order quantity is

1200 units 600 units 849 units 283 units

43.Which of the following budget produced first

production budget sales budgetpurchase budget master budget44.Which of the following is NOT a function of management

Planning organizing motivating leading

45.As detailed guidance presented in this FAM, professional judgment is:

Always required standard working paper kit Audit code Audit

manual

46.Professional judgement can be

eliminated cant eliminated must eliminated may be eliminated

47.Person is classified into categories

one two threefour

48.Which of the following relation doesnt fall under the definition of family according to

pension rules son daughter wife brother

49.Super anuation pension is awarded on retirement before attaining the age of

superannuation is 25 year 30 year 35 year None

50.Re-appropriation means the _________ of funds to meet the expenditures

allotment re-allotment fixing none

51.A supplementary grant may be in respect to

one major head more major head minor heads all of these

52.Operations budget normally cover a period of

One year or less one to five years one to two years

53.The various components of a budget are usually prepared by;

Staff management The budget director the controller

54.The main object of audit is

expression of opinion

Detection and prevention of fraud and error

Both a & b

Depend on the type of audit

55.The fixed-variable classification has a special significance in the preparation of


4/6

Flexible budget master budget cash budget capital budget

56.In a job cost system, costs are accumulated

By specific job

By department or process

By kind of material

On a monthly basis

57.Direct material is a

Fixed cost variable cost semi-variable cost58.The stock-keeper should initiate a purchase requisition when stock reaches

Minimum level maximum level re-order level

59.Toy manufacturing company should use

Unit cost batch costing job costing

60.A copy of customers account in the banks ledger is called

Deposit statement balance statementbank statement

61.A cost incurred in past and hence irrelevant for current decision making is a

Fixed cost sunk cost direct cost none

62.Adds for procurement can be given inUrdu English local language all of above

63.Mis-procurement means

Deter procurement

Breach of procurement rules

Supply of defective material

64.The amount of money in the account of account holder

Profit interest deposit loan

65.Commercial bank is called

bankers bank bank of public custodian of exchange

66.Which of the following item is a current asset

unearned revenue real estate held for resale temporary investment

patent

67.Which of the following accounts have normally a credit balance

Cash Accounts payable equipment salaries

68.Which of the following does not appear on the work sheet

The unadjusted Trial balance Adjusting entries closing entries

69.Net income plus operating expense is equal to

Net sales cost of goods available for sale gross profit CGS

70.A cash sale of merchandise should be recorded in

Sales journal general ledger cash receipt journal

71.The inventory method that assigns the most recent costs to cost of goods sold is:

FIFO LIFO AVERAGE Specific identification

72.Working capital is equal to C.A- C.L F.A- C.L Liquid assets-C.L

73.Which of the following is a intangible asset machine equipment patent

74.Which of the following cost is not a period cost

Sales people salaries factory rent general admn. cost R& D

75.Total manufacturing cost for a period includes all of the following costs except


5/6

raw material used direct labor cost cost of goods completed

76.Quick assets includes

cash accounts receivable marketable securities all

77. Deferred taxation is liability asset expense none

78.PAO stands for

Principal accounting officer Principal audit officer both none

79.PPRA

80.DDO.81.AGPR

82.FAM..

83.COA.

84.LPC..

85.Unsettled claims must be settled through

Competent authority arbitration law coverts

86.The payment of bill shall not exceed 25 days 40 days 60 days

87.PPRA Rules applied 2003 2004 2006 none

88.Depreciation is same in case offixed installment method reducing balance method

89.Which of the following is not a method of depreciation

replacement method reducing method straight line method

revaluation

90.How fixed assets normally recorded

at book value at cost at replacement cost at scrap value

91.Leave encashment period is 6 months 12 months 15 months

92.The deputation period is pensionable non-pensionable excluded93.Approval of the report is the responsibility of

Auditor general director general DAG

94.Prepaid expense is Asset liability expense none

95.PIFRA.

96.Conversion cost.

97.FIFO stands for .

98.A contra entry appears on both sides of an account

Cash book trial balance journal

99.Discount is the personal account Nominal account none

100. Bank account is a real account personal account none

************************Best of luck *****************************


6/6

Documents

Auidit Paper