Correct Answer:
D. Not submitted to a vote in the National Assembly, though it may be discussed
Charged expenditure, such as remuneration of judges and the Auditor-General, is not put to vote.
November 13, 2026 · Accounting and Finance MCQs, Public Finance & Budgeting MCQs
Expenditure charged upon the Federal Consolidated Fund (Article 81) is:
Related MCQs
Repayment of a long-term bank loan is classified as a cash flow from:
A.
Operating activities
B.
Investing activities
C.
Non-cash activities
D.
Financing activities
Correct answer is:
D. Financing activities
Do you agree with this answer?
Audit sampling means applying audit procedures to:
A.
Every item in the population
B.
Only the largest item in the population
C.
Less than 100% of items in a population so that all sampling units have a chance of selection
D.
Items chosen by management
Correct answer is:
C. Less than 100% of items in a population so that all sampling units have a chance of selection
Do you agree with this answer?
The financial year of the Federal Government of Pakistan runs from:
A.
1 January to 31 December
B.
1 April to 31 March
C.
1 October to 30 September
D.
1 July to 30 June
Correct answer is:
D. 1 July to 30 June
Do you agree with this answer?
A trial balance is prepared mainly to:
A.
Prove that the accounts are free from all errors
B.
Calculate the tax payable
C.
Replace the balance sheet
D.
Check the arithmetical accuracy of the ledger by comparing total debit and credit balances
Correct answer is:
D. Check the arithmetical accuracy of the ledger by comparing total debit and credit balances
Do you agree with this answer?
An impairment loss arises when:
A.
The asset's market price rises
B.
Depreciation is charged
C.
The carrying amount of an asset exceeds its recoverable amount
D.
An asset is fully depreciated
Correct answer is:
C. The carrying amount of an asset exceeds its recoverable amount
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?
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