Correct Answer:
A. Project to Improve Financial Reporting and Auditing
PIFRA was a reform program to improve government accounting, financial reporting and audit in Pakistan.
November 13, 2026 · Accounting and Finance MCQs, Public Sector Accounting & Auditing MCQs
PIFRA stands for:
Related MCQs
The imprest cash system in a government office means that:
A.
No cash is ever kept
B.
Cash is deposited daily with no records
C.
All payments are made in kind
D.
A fixed amount of cash is kept for petty expenses and replenished on submission of vouchers
Correct answer is:
D. A fixed amount of cash is kept for petty expenses and replenished on submission of vouchers
Do you agree with this answer?
Fiscal federalism deals with:
A.
The monetary policy of the central bank
B.
Only international trade
C.
Only local taxes
D.
The division of revenue-raising and spending responsibilities among levels of government
Correct answer is:
D. The division of revenue-raising and spending responsibilities among levels of government
Do you agree with this answer?
Fiscal policy is the use of:
A.
Interest rates and money supply by the central bank
B.
Exchange rate controls only
C.
Government spending and taxation to influence the economy
D.
Foreign aid only
Correct answer is:
C. Government spending and taxation to influence the economy
Do you agree with this answer?
An annuity due is an annuity in which payments are made:
A.
At the end of each period
B.
At the beginning of each period
C.
Only once
D.
Never
Correct answer is:
B. At the beginning of each period
Do you agree with this answer?
A flexible budget is a budget that:
A.
Never changes
B.
Includes only fixed costs
C.
Is adjusted to the actual level of activity achieved
D.
Is prepared without forecasting
Correct answer is:
C. Is adjusted to the actual level of activity achieved
Do you agree with this answer?
The Public Account of the Federation under Article 78(2) includes:
A.
Only tax revenue
B.
Only foreign loans
C.
Only provincial taxes
D.
All other moneys received by or on behalf of the Federal Government that are not part of the Federal Consolidated Fund
Correct answer is:
D. All other moneys received by or on behalf of the Federal Government that are not part of the Federal Consolidated Fund
Do you agree with this answer?
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