Correct Answer:
A. Rs. 18,000
(100,000 - 10,000) / 5 = Rs. 18,000.
November 13, 2026 · Accounting and Finance MCQs, Financial Accounting MCQs
A machine costs Rs. 100,000, has a residual value of Rs. 10,000 and a useful life of 5 years. Annual straight-line depreciation is:
Related MCQs
The Supreme Audit Institution (SAI) of Pakistan is:
A.
The Securities and Exchange Commission of Pakistan
B.
The Federal Board of Revenue
C.
The Auditor-General of Pakistan
D.
The State Bank of Pakistan
Correct answer is:
C. The Auditor-General of Pakistan
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The key difference between fraud and error is that fraud is:
A.
An intentional act involving deception
B.
Always immaterial
C.
Always committed by outsiders
D.
Detected only by internal auditors
Correct answer is:
A. An intentional act involving deception
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The four perspectives of the Balanced Scorecard are:
A.
Sales, purchase, production and finance
B.
Cost, revenue, profit and loss
C.
Assets, liabilities, equity and income
D.
Financial, customer, internal business process, and learning and growth
Correct answer is:
D. Financial, customer, internal business process, and learning and growth
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Drawings made by the owner of a sole proprietorship:
A.
Reduce the owner's equity (capital)
B.
Increase the owner's equity
C.
Are recorded as business expenses
D.
Are recorded as revenue
Correct answer is:
A. Reduce the owner's equity (capital)
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A Medium Term Budgetary Framework (MTBF) is:
A.
A multi-year (usually three-year) expenditure planning framework
B.
A monthly cash plan
C.
A tax collection target
D.
A foreign loan agreement
Correct answer is:
A. A multi-year (usually three-year) expenditure planning framework
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According to IPSAS 23, taxes and transfers are classified as:
A.
Exchange transactions
B.
Non-exchange transactions
C.
Capital transactions
D.
Contingent assets
Correct answer is:
B. Non-exchange transactions
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