Correct Answer:
D. Chartered accountant firms appointed under law, and may also be subject to audit by the Auditor-General
SOEs usually have external commercial auditors, with additional audit by the SAI where the law provides.
November 13, 2026 · Accounting and Finance MCQs, Public Sector Accounting & Auditing MCQs
State-owned enterprises (SOEs) in Pakistan are typically audited by:
Related MCQs
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
Do you agree with this answer?
The Auditor-General of Pakistan holds office for a term of:
A.
Four years or until the age of sixty-five, whichever is earlier
B.
Two years only
C.
Five years with no age limit
D.
Until the age of seventy
Correct answer is:
A. Four years or until the age of sixty-five, whichever is earlier
Do you agree with this answer?
A share buyback (repurchase) generally:
A.
Increases the number of shares outstanding
B.
Reduces the number of shares outstanding
C.
Raises new equity
D.
Has no effect on cash
Correct answer is:
B. Reduces the number of shares outstanding
Do you agree with this answer?
Budgeted overhead is Rs. 240,000 and budgeted direct labor hours are 12,000. The predetermined overhead rate is:
A.
Rs. 20 per direct labor hour
B.
Rs. 2,880,000 per hour
C.
Rs. 50 per direct labor hour
D.
Rs. 0.05 per direct labor hour
Correct answer is:
A. Rs. 20 per direct labor hour
Do you agree with this answer?
Under IAS 16, property, plant and equipment is initially measured at:
A.
Cost
B.
Net realizable value
C.
Selling price
D.
Fair value less tax
Correct answer is:
A. Cost
Do you agree with this answer?
Which of the following errors will NOT be disclosed by a trial balance?
A.
Posting a debit entry on the credit side only
B.
Wrong addition of a ledger account
C.
Posting only one side of an entry
D.
Complete omission of a transaction from the books
Correct answer is:
D. Complete omission of a transaction from the books
Do you agree with this answer?
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