Correct Answer:
D. 1 July to 30 June
Pakistan's fiscal year starts on 1 July and ends on 30 June.
November 13, 2026 · Accounting and Finance MCQs, Public Finance & Budgeting MCQs
The financial year of the Federal Government of Pakistan runs from:
Related MCQs
Primary balance is the fiscal balance:
A.
Including interest payments
B.
Excluding interest payments
C.
Excluding revenue
D.
Including only capital expenditure
Correct answer is:
B. Excluding interest payments
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INTOSAI stands for:
A.
International Office of Standard Audit and Investigation
B.
International Organization of Supreme Audit Institutions
C.
International Organization of Statutory Auditors and Inspectors
D.
Institute of National Taxation and Statistics
Correct answer is:
B. International Organization of Supreme Audit Institutions
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Which of the following is an intangible asset?
A.
A delivery van
B.
A patent
C.
Inventory
D.
Accounts receivable
Correct answer is:
B. A patent
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What is the main objective of an external audit of financial statements?
A.
To express an opinion on whether the financial statements are prepared, in all material respects, in accordance with the applicable reporting framework
B.
To prepare the financial statements of the entity
C.
To guarantee that the entity will remain profitable in the future
D.
To detect and prevent every fraud in the entity
Correct answer is:
A. To express an opinion on whether the financial statements are prepared, in all material respects, in accordance with the applicable reporting framework
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Sales are Rs. 200,000 and variable costs are Rs. 120,000. The contribution margin ratio is:
A.
40%
B.
60%
C.
30%
D.
80%
Correct answer is:
A. 40%
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The strong form of the Efficient Market Hypothesis states that share prices reflect:
A.
Only past price information
B.
Only public information
C.
Only accounting information
D.
All information, public and private
Correct answer is:
D. All information, public and private
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