Correct Answer:
B. 50 days
Days = 100,000 / 730,000 x 365 = 50.
November 13, 2026 · Accounting and Finance MCQs, Financial Management & Analysis MCQs
Accounts receivable are Rs. 100,000 and annual credit sales are Rs. 730,000. Average collection period (365-day year) is:
Related MCQs
The going concern concept assumes that a business:
A.
Will be sold next year
B.
Has no liabilities
C.
Will continue its operations for the foreseeable future
D.
Will close at the end of the year
Correct answer is:
C. Will continue its operations for the foreseeable future
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A Drawing and Disbursing Officer (DDO) is an officer who:
A.
Audits the accounts of a department
B.
Prepares the national budget
C.
Collects customs duty
D.
Draws money from the treasury or bank on bills and disburses it
Correct answer is:
D. Draws money from the treasury or bank on bills and disburses it
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The quick (acid test) ratio excludes which item from current assets?
A.
Inventory
B.
Cash
C.
Trade receivables
D.
Short-term investments
Correct answer is:
A. Inventory
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IPSAS (International Public Sector Accounting Standards) are issued by:
A.
International Accounting Standards Board (IASB)
B.
International Monetary Fund (IMF)
C.
International Public Sector Accounting Standards Board (IPSASB)
D.
World Bank
Correct answer is:
C. International Public Sector Accounting Standards Board (IPSASB)
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Net income is Rs. 60,000 and shareholders' equity is Rs. 400,000. Return on equity (ROE) is:
A.
6.7%
B.
24%
C.
15%
D.
1.5%
Correct answer is:
C. 15%
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Which Article of the Constitution of Pakistan provides for reports of the Auditor-General to be submitted to the President to be laid before Parliament?
A.
Article 10
B.
Article 62
C.
Article 199
D.
Article 171
Correct answer is:
D. Article 171
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