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Possible Questions For Senior Auditor (BS-16)

Audit
1- Define Audit2- What is the distinction between auditing and accounting?
3- Why is there a need for an audit?
4- Scope of Audit5- Internal Control
6- Audit risk
7- Unqualified Opinion
8- Qualified Opinion report
9- Disclaimer of Opinion report
10- Adverse Opinion report
11- What are the different types of audit?
12- Internal control,
13- Types of Audit by Organization Structure
14- Functions and Duties of an Auditor15- Voucher
16- Vouching
17- Internal Audit
18- External Audit
19- Internal Control
20- Qualities of an Auditor
21- Before and After Audit Measures
22- Audit Report and its type
23- Audit Opinion
24- Appointment of an Auditor
25- Performance Audit
26- Regulatory Audit:
Accounting
1- Accounting
2- Types of Accounting
3- Financial Accounting
4- Cost Accounting
5- Difference b/w Accounting, Finance & Economics
6- Deferred Taxation
7- Depreciation
8- Types of Depreciation
9- Accumulated Depreciation
10- Ratios
11- Accounting Cycle
12- Accruals
13- Deferrals
14- Balance Sheet Items
15- Charts of Accounts
16- Appropriation Accounts
17- Lease (Operation and Finance Lease):

18- Budget Types (Deficit / Surplus) Zero Budget , Sales Budget, Production Budget
19- Adjusting Entries
20- Closing Entries
21- Financial Statements
Economics
1- Economics:
2- Micro Economics:
3- Macro Economics:
4- National Income:
5- GDP
6- Factors of Production
7- Economics Indicator
8- Fiscal Policy
9- Monetary Policy
10- Trade Deficit
11- Budget Deficit
12- Balance of Trade
13- Balance of Payment
14- Direct Taxation
15- Indirect Taxation
16- Progressive Taxation
17- Regressive Taxation
18- Proportional Taxation
19- Budget 2015-16 (4.6 Trillion)
Taxation
1- Tax: Cost of services rendered by the state
2- Withholding Tax: A withholding tax, also called a retention tax, is a government requirement
for the payer of an item of income to withhold or deduct tax from the payment, and pay thattax to
the government.
3- Salary Rates
4- Sales Tax
5- Property Tax
6- Capital Gains
7- Tax of AOP and Individuals
8- Companies Taxation
9- WHT Agent
SECP / Incorporation of Companies
1- What is a company
2- Company Incorporation procedure:
3- Types of Companies
4- Limited Companies (Listed and Unlisted)
5- Private Limited companies
6- Parents Companies
7- Subsidiary company
8- Sister Company
9- Dividend

10- Premium
11- Collateral Security
Miscellaneous
1- Self Introduction
2- Self Experience
3- Strength & Weaknesses
4- Family backgroundx
5- Difference b/w Accounting & Finance
6- Difference b/w Accounting & Audit
7- Difference b/w Economics & Finance
8- Difference b/w Accounting & Book keeping
9- Appropriation & Re-appropriation of Accounts
10- Good Governance
11- Reasons for Corruption
12- ERP
Balance of Payment
Balance of Trade
Incremental Budget
Appropriation
Re-Appropriation
Good Governance
Reasons of Corruption
Accounting and Auditing Definition & Difference
Types of Audit
Audit Report
Tax related questions,
Withholding Tax Agent
Mini Budget
Zero Budget
Budget
Deficit budget
Inflation
Company Rules related question
Types of companies, Joint Stock etc.
Dividend, Zero Dividend, Minus Dividend
Regular & Irregular Audit and difference

auditing, pension and PPRA rules


1)the meaning of the word procurement means.....
2)cost center means.....
3).......the risk ......the materiality,........the audit procedures.
4) capital Account is ......... in nature.
5)Formula of Machine working hours was asked.
6)PAAS stands for?
7)following are not the nominal accounts...
a)cash,unearned revenue.....
b)drawings,rent.....
rest I cant remember
8)a question about the super tax was asked
9)another question was about the Master budget
10)Increase in the value of assets is called...?

ppra, questions were from advertisement, complaints by bidders, apply for bid, date
of evaluation etc etc.....
Pension related were like: widow pension for how many years, after widow death
who will be entitled, children eligibitity etc, you should know in pension that who will
be entitled for pension and for how many years,,,,
English mcqs were very easy,,,related to grammar,,,no synonyms and antonyms....
Depreciation calculation and accounting procedures.....

Senior Auditor (BS-16), Pakistan Military Accounts Department, Ministry of Defence


No. of Paper : 1
Marks : 100
Time Allowed : 100 Minutes
Objective Type Test (MCQ)
Part-I
English = 20 marks
Part-II
Professional Test=80 Marks
Part-I
Vocabulary, Grammar Usage,
Part-II
Accounting Principles & Procedures,
Scrutiny of Record for Audit Purpose,
Journal, ledger & Cash Book,
Annual Budget,
Adjustment & Depreciation,
Financial Planning & Cost Accounting,
Head of Accounts, Re-appropriation of Accounts
and Supplementary Grant, Settlement of Audit Objections
Preparation of Pension Documents.
Public Procurement Rules, 2004
1. So where do u belong to?
2. What have you done, educationally an professionally?
3. What is B.O.Q and does it have any relationship with buildings?
4. what are determinants of economic growth?
5. Factors of productions?
6. How would you know that an economy is growing?
7. What is AGPR?
8. What is the function of AGPR?

9. What is meant by durable items in economics?


10. Deficit financing, good or bad?
ppra, questions were from advertisement, complaints by bidders, apply for
bid, date of evaluation etc etc.....
Pension related were like: widow pension for how many years, after widow
death who will be entitled, children eligibitity etc,,,,you should know in
pension that who will be entitled for pension and for how many years,,,,
English mcqs were very easy,,,related to grammar,,,no synonyms and
antonyms....
Depreciation calculation and accounting procedures.....
1)the meaning of the word procurement means.....
2)cost center means.....
3).......the risk ......the materiality,........the audit procedures.
4) capital Account is ......... in nature.
5)Formula of Machine working hours was asked.
6)PAAS stands for?
7)following are not the nominal accounts...
a)cash,unearned revenue.....
b)drawings,rent.....
rest I cant remember
8)a question about the super tax was asked
9)another question was about the Master budget
10)Increase in the value of assets is called...?
e procurement mcqs were came.... i made guessed and out of 10 six are wrong.... u
people also check ur score
http://wps.pearsoned.co.uk/ema_uk_he...980/index.html
mcqs of financial management...
http://highered.mheducation.com/site...oice_quiz.html
http://highered.mheducation.com/site...oice_quiz.html....

7) Financial statements are prepared:


8) The basic purpose of an accounting system is to:
9) Information is cost effective when:
10) Although accounting information is used by a wide variety of external parties,
financial reporting is primarily directed toward the information needs of:
11) All of the following are characteristics of managerial accounting, except:
12) In comparison with a financial statement prepared in conformity with generally
accepted accounting principles, a managerial accounting report is more likely to:
13) The nature of an asset is best described as:
14) The amount of owner's equity in a business is not affected by:
15) Inventory is considered a current asset because it:
16) The primary economic function of a wholesaler is to:
17) The income statement of Laurel Company shows a large gross profit. This
means that Laurel:
18) In a perpetual inventory system, purchases of merchandise on account are
recorded by debiting:
19) Colby's General Store uses a periodic inventory system. At year-end, the
balance in the Inventory account is $8,500. Assuming that the inventory records
have been maintained properly, a year-end physical inventory:

20) Ward Company discovered that merchandise purchased on account was


defective and returned this merchandise to the supplier. The entry to record this
return will reduce Ward's:
21) Which of the following should not be included as part of cash on the balance
sheet?
22) The financial statement which shows cash activity (receipts and disbursements)
during the accounting period is called a(n):
23) The principal purpose of a voucher system is to provide assurance that:
24) When a voucher system is in use, the finance department has access to each of
the following except:
25) Which of the following is not disclosed in a bank reconciliation?
26) During preparation of a bank reconciliation, interest earned on the average bank
balance during the month should be:
27) A company which uses the direct write-off method recognizes uncollectible
accounts expense:
28) Which of the following transactions would increase the net cash flow from
operating activities?
29) For purposes of preparing a cash flow statement, which of the following is not
considered a "cash equivalent"?
30) Warner Corporation reported net income in excess of its net cash flow from
operations. A possible explanation of this difference is:
31) An important distinction between the direct method and the indirect method of
preparing a statement of cash flows is that:
32) A corporation's free cash flow is its:
33) Which of the following is ordinarily computed and reported as part of the
financial statements of a large corporation?
34) The basic purpose in preparing classified financial statements is to:
35) How would a company's current ratio be affected if a substantial amount of
accounts payable were paid in cash?
36) Assume that net sales are increasing faster than the rate of inflation, and that
the company's gross profit rate is falling. The most likely explanation is:
37) Assume that for several years, the net income of Delta-Baines (DB) has been
rising as a percentage of the company's net sales. Analysts normally would interpret
this to mean that:

38) Clay Corporation earns a rate of return on common stockholders' equity of 14%.
Which of the following will cause the rate of return to increase?
39) If more units are produced than the "normal" level, and the overhead spending
variance is favorable, then:
40) Which of the following unfavorable cost variances would be the least relevant in
evaluating the performance of a production supervisor?
41) A difference between the overhead applied to work in process at a standard and
the overhead budgeted for the level of output achieved:
42) SECP Stands for
43) IFRS Stands For
44) Opening and Ending Inventory
45) Auditors form no. 35A
1) The terms purchasing and procurement should not be seen as synonymous. As
such, which of the following statements do you think has greatest validity?
2) Generally, which sequence is most typical of the procurement process?
3) E-procurement aims to improve performance of what is known as the 'five rights
of purchasing'. One aim of e-procurement is increasing savings by sourcing items:
4) Another aim of e-procurement is increased choice of supplier leading to sourcing
items:
5) Production related procurement refers to the purchasing of:
6) Negotiated contracts with regular suppliers typically in long-term relationships is
an example of:
Define Accounting, auditing, finance, difference, direct and indirect tax, fiscal policy,
expenditure, what finance manager do, what auditor do, what account do.