Correct Answer:
A. A multi-year (usually three-year) expenditure planning framework
MTBF aligns spending with policy priorities across several years.
November 13, 2026 · Accounting and Finance MCQs, Public Finance & Budgeting MCQs
A Medium Term Budgetary Framework (MTBF) is:
Related MCQs
The Auditor-General's functions regarding the audit of accounts of the Federation and the Provinces are given in:
A.
Article 3
B.
Article 48
C.
Article 169
D.
Article 215
Correct answer is:
C. Article 169
Do you agree with this answer?
Financing a deficit by creating new money through the central bank is called:
A.
Privatization
B.
Demonetization
C.
Fiscal consolidation
D.
Monetization of the deficit
Correct answer is:
D. Monetization of the deficit
Do you agree with this answer?
Incremental budgeting means:
A.
Preparing every budget from zero
B.
Adjusting the previous year's budget by a certain percentage or amount
C.
Using only actual expenditure
D.
Ignoring last year's figures
Correct answer is:
B. Adjusting the previous year's budget by a certain percentage or amount
Do you agree with this answer?
The tax shield on debt arises because:
A.
Dividends are tax deductible
B.
Debt is risk free
C.
Principal repayments are deductible
D.
Interest is a tax-deductible expense
Correct answer is:
D. Interest is a tax-deductible expense
Do you agree with this answer?
EBIT is Rs. 300,000 and interest expense is Rs. 60,000. The times interest earned ratio is:
A.
0.2 times
B.
4 times
C.
6 times
D.
5 times
Correct answer is:
D. 5 times
Do you agree with this answer?
Audit risk is the risk that the auditor:
A.
Loses the client
B.
Charges a lower audit fee
C.
Gives an inappropriate opinion when the financial statements are materially misstated
D.
Does not attend the physical inventory count
Correct answer is:
C. Gives an inappropriate opinion when the financial statements are materially misstated
Do you agree with this answer?
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