Possible Questions For Senior Auditor (BS-16)

Audit1- Define Audit-2- What is the distinction between auditing and accounting?3- Why is there a need for an audit?4- Scope of Audit-5- Internal Control6- Audit risk 7- Unqualified Opinion8- Qualified Opinion report9- Disclaimer of Opinion report10- Adverse Opinion report11- What are the different types of audit?12- Internal control,13- Types of Audit by Organization Structure 14- Functions and Duties of an Auditor-15- Voucher 16- Vouching17- Internal Audit 18- External Audit19- Internal Control20- Qualities of an Auditor 21- Before and After Audit Measures 22- Audit Report and its type23- Audit Opinion24- Appointment of an Auditor25- Performance Audit26- Regulatory Audit:Accounting1- Accounting2- Types of Accounting 3- Financial Accounting 4- Cost Accounting 5- Difference b/w Accounting, Finance & Economics 6- Deferred Taxation7- Depreciation8- Types of Depreciation9- Accumulated Depreciation10- Ratios11- Accounting Cycle 12- Accruals 13- Deferrals14- 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 Budget19- Adjusting Entries20- Closing Entries 21- Financial StatementsEconomics 1- Economics:2- Micro Economics: 3- Macro Economics: 4- National Income: 5- GDP6- Factors of Production 7- Economics Indicator 8- Fiscal Policy 9- Monetary Policy 10- Trade Deficit 11- Budget Deficit 12- Balance of Trade13- Balance of Payment 14- Direct Taxation15- Indirect Taxation16- Progressive Taxation17- Regressive Taxation18- Proportional Taxation19- Budget 2015-16 (4.6 Trillion)Taxation 1- Tax: Cost of services rendered by the state2- 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 Rates4- Sales Tax 5- Property Tax6- Capital Gains7- Tax of AOP and Individuals8- Companies Taxation9- WHT AgentSECP / Incorporation of Companies 1- What is a company2- Company Incorporation procedure:3- Types of Companies4- Limited Companies (Listed and Unlisted)5- Private Limited companies 6- Parents Companies7- Subsidiary company8- Sister Company9- Dividend10- Premium11- Collateral SecurityMiscellaneous1- Self Introduction2- Self Experience 3- Strength & Weaknesses4- Family backgroundx5- Difference b/w Accounting & Finance6- Difference b/w Accounting & Audit7- Difference b/w Economics & Finance8- Difference b/w Accounting & Book keeping 9- Appropriation & Re-appropriation of Accounts10- Good Governance 11- Reasons for Corruption12- ERP

Balance of PaymentBalance of TradeIncremental BudgetAppropriationRe-AppropriationGood GovernanceReasons of Corruption

Accounting and Auditing Definition & DifferenceTypes of AuditAudit ReportTax related questions, Withholding Tax AgentMini BudgetZero BudgetBudgetDeficit budgetInflationCompany Rules related questionTypes of companies, Joint Stock etc.Dividend, Zero Dividend, Minus DividendRegular & 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 remember8)a question about the super tax was asked9)another question was about the Master budget10)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 DefenceNo. of Paper : 1Marks : 100Time Allowed : 100 MinutesObjective Type Test (MCQ)Part-IEnglish = 20 marksPart-IIProfessional Test=80 MarksPart-IVocabulary, Grammar Usage,Part-IIAccounting 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 Accountsand Supplementary Grant, Settlement of Audit ObjectionsPreparation of Pension Documents.Public Procurement Rules, 20041. 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 remember8)a question about the super tax was asked9)another question was about the Master budget10)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 scorehttp://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 for43) IFRS Stands For44) Opening and Ending Inventory45) Auditors form no. 35A1) 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.