Correct Answer:
D. The Controller General of Accounts
The CGA is the accounting authority for federal government accounts in Pakistan.
November 13, 2026 · Accounting and Finance MCQs, Public Sector Accounting & Auditing MCQs
The accounts of the Federation are compiled by:
Related MCQs
Under IFRS 15, revenue is recognized when:
A.
A performance obligation is satisfied by transferring control of goods or services to the customer
B.
A contract is signed
C.
Cash is received in all cases
D.
The invoice is printed
Correct answer is:
A. A performance obligation is satisfied by transferring control of goods or services to the customer
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Abnormal loss is:
A.
Loss that is part of normal operations
B.
Loss in excess of the normal loss, charged to the costing profit and loss account
C.
Added to the cost of good units
D.
Always recoverable from the supplier
Correct answer is:
B. Loss in excess of the normal loss, charged to the costing profit and loss account
Do you agree with this answer?
Audit working papers generally belong to:
A.
The client
B.
The auditor
C.
The shareholders
D.
The regulator in every case
Correct answer is:
B. The auditor
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If the marginal propensity to consume (MPC) is 0.8, the simple expenditure multiplier is:
A.
5
B.
1.25
C.
0.8
D.
0.2
Correct answer is:
A. 5
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In capital budgeting, depreciation is relevant only because of its effect on:
A.
Cash outflow at the start
B.
Taxes (the depreciation tax shield)
C.
Working capital
D.
The discount rate
Correct answer is:
B. Taxes (the depreciation tax shield)
Do you agree with this answer?
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?
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