Correct Answer:
D. Draws money from the treasury or bank on bills and disburses it
DDOs are authorized to prepare bills and make payments within sanctioned budgets.
November 13, 2026 · Accounting and Finance MCQs, Public Sector Accounting & Auditing MCQs
A Drawing and Disbursing Officer (DDO) is an officer who:
Related MCQs
The basic accounting equation is:
A.
Assets = Liabilities + Equity
B.
Assets = Liabilities - Equity
C.
Assets + Liabilities = Equity
D.
Equity = Assets + Liabilities
Correct answer is:
A. Assets = Liabilities + Equity
Do you agree with this answer?
Under the ISAs, analytical procedures are required to be performed at which stages of the audit?
A.
Only when fraud is suspected
B.
Only during the interim visit
C.
Risk assessment and the overall review near the end of the audit
D.
Only for listed companies
Correct answer is:
C. Risk assessment and the overall review near the end of the audit
Do you agree with this answer?
Contribution margin is calculated as:
A.
Sales minus fixed costs
B.
Sales minus total costs
C.
Gross profit minus selling expenses
D.
Sales minus variable costs
Correct answer is:
D. Sales minus variable costs
Do you agree with this answer?
The main purpose of segregation of duties is to:
A.
Reduce the number of employees
B.
Increase the speed of processing
C.
Prevent one person from controlling authorization, custody and recording of a transaction
D.
Replace the need for an audit
Correct answer is:
C. Prevent one person from controlling authorization, custody and recording of a transaction
Do you agree with this answer?
Sales are Rs. 500,000 and cost of goods sold is Rs. 320,000. Gross profit is:
A.
Rs. 820,000
B.
Rs. 320,000
C.
Rs. 36,000
D.
Rs. 180,000
Correct answer is:
D. Rs. 180,000
Do you agree with this answer?
A qualified opinion is issued when misstatements are:
A.
Material but not pervasive
B.
Both material and pervasive
C.
Immaterial
D.
Not found at all
Correct answer is:
A. Material but not pervasive
Do you agree with this answer?
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