Correct Answer:
D. Independence of Supreme Audit Institutions
Adopted in 2007, it sets eight core principles for the independence of SAIs.
November 13, 2026 · Accounting and Finance MCQs, Public Sector Accounting & Auditing MCQs
The Mexico Declaration on SAI Independence emphasizes:
Related MCQs
The pre-tax cost of debt is 10% and the tax rate is 30%. The after-tax cost of debt is:
A.
7%
B.
3%
C.
13%
D.
10%
Correct answer is:
A. 7%
Do you agree with this answer?
When NPV and IRR give conflicting rankings for mutually exclusive projects, the preferred criterion is generally:
A.
NPV
B.
IRR
C.
Payback period
D.
Accounting rate of return
Correct answer is:
A. NPV
Do you agree with this answer?
An adverse opinion is issued when the effects of misstatements are:
A.
Material but not pervasive
B.
Trivial and isolated
C.
Both material and pervasive
D.
Related only to disclosures of no importance
Correct answer is:
C. Both material and pervasive
Do you agree with this answer?
The crowding-out effect refers to:
A.
Private investment increasing government revenue
B.
Government borrowing raising interest rates and reducing private investment
C.
Government spending reducing unemployment
D.
Taxes reducing consumption only
Correct answer is:
B. Government borrowing raising interest rates and reducing private investment
Do you agree with this answer?
Which of the following is NOT a component of internal control in the COSO framework?
A.
Audit sampling
B.
Control environment
C.
Risk assessment process
D.
Monitoring of controls
Correct answer is:
A. Audit sampling
Do you agree with this answer?
The principal budget factor is:
A.
The factor that limits the activities of an organization
B.
The largest expense
C.
The total of sales
D.
The profit target
Correct answer is:
A. The factor that limits the activities of an organization
Do you agree with this answer?
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