com/ToppersTime FPSC Senior Auditor (BPS- 16) Past Papers
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..... 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...? 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 ofexternal 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: www.facebook.com/ToppersTime 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: www.facebook.com/ToppersTime 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) Auditor’s form no. 35A 46) The terms purchasing and procurement should not be seen as synonymous. As such, which of the following statements do you think has greatest validity? 47) Generally, which sequence is most typical of the procurementprocess? 48) 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: 48) Another aim of e-procurement is increased choice of supplier leading to sourcing items: 49) Production related procurement refers to the purchasing of: 50) Negotiated contracts with regular suppliers typically in long-term relationships is an example of:
FPSC Senior Auditor (BPS- 16) Test Past Papers
www.facebook.com/ToppersTime Multiple Choice Questions MCQs test was conducted on 13th August 2017 in Four Batches . Test held in all major cities of Pakistan . Candidates has shared the questions which appeared in paper of Senior Auditor . Questions asked in all three batches is as under: Part 1- English MCQs Fill in the sentences with most appropriate choice 1. Would you mind ____________on the light. (A) Switch (B) Switching (C) To Switching (D) To Be Switching 2. The gentry ________ invited the party . (A) has (B) Have been (c) have (d) was 3. Giving is better than (a) receive (b) to receive (c) be received ( d) receiving 4. Either you are he is _________fault . (a) is (b) are (c) have (d) were 5. I am feeling _________better today. (a) too (b) very (c) rather (d) fairly 6. I have no _________against him . (a) case (b) grudge (c) request (d) desire 7. Adequate _________must taken to avoid accidents. (a) caution (b) precaution (c) warning (d) danger 8. The government has order a _________________inquiry into the police firing. (a) governmental (b) judicial (c) legal (d) penal 9. You are old enough to _________your shoes laces yourself . (a) Knit (b) tie (c) bind (d) tight 10. As a last ___________he has appealed to the princiapl www.facebook.com/ToppersTime (a) method (b) chance (c) resort (d) course What is underlined part of the sentence 11. Borrowed garments never fit well . (A) Subject (B) Pradicate (C) Conjunction (D) Position 12. He sold his house to John (A) . Direct Object (B) Indirect Object ( C) Helping Verb (D) Verb 13. Running Fast they caught the last Bus (A) Noun Phrase (B) Adjective Phrase (C) Adverb Phrase (D) Clause 14. Swimming is my favorite recreation. (A) Participle (B) Compliment (C) Gerund ( D) Preposition 15. Rear Seats seem cramped (A) Linking Verb (B) Direct Object (C) Indirect Object (D) Complement 16. Face your problems boldly (A) Noun (b) Adjective (c) Adverb (d) Preposition 17. This house is to let . (A) Infinitive (B) Preposition (C) Helping Verb (D) Interjection 18. We came after they had left (A) Preposition (B) Adjective (C) Adverb (D) Conjunction 19. He showed much patience (A) Adverb (B) Complement (C) Adjective (D) Preposition 20. Hush! Don't make the noise (A) Preposition (B) Phrase (C) Clause (D) Interjection Part 2 (Professional ) www.facebook.com/ToppersTime 21. Which System production Information used for inventory valuation, budgeting, cost control, performance reporting, and make buy decisions? (A) Sales Order Processing (B) Purchase Account Payable (C) Cash Disbursements (D) None of These 22. The order of the entries made in the ledger is by : (A) Transaction Number (B) Account Number (C)Date (D) None of These 23. In general , a special Journal would not be used to record :? (A) Sales (B) Cash Disbursement (C) Depreciation (D) None of These 24. Subsidiary ledgers are used in manual accounting environments . What file is comparable to a subsidiary ledger in a computerized environment? (A) Archive File (B) Reference File (C) Transaction File (D) None of These 25. Which of the following is an archive File (A) An account payable subsidiary ledger (B) A cash receipts file (C) A sales journal (D) None of These 26. When determining the batch size , which consideration is the least important ? (A) Achieving economies by grouping together large number of transactions (B) Comply with legal mandates (C) Providing control over the transaction process