Correct Answer:
C. Appropriation accounts and audit reports of the Auditor-General
PAC is a parliamentary committee that scrutinizes the spending of public money.
November 13, 2026 · Accounting and Finance MCQs, Public Sector Accounting & Auditing MCQs
The Public Accounts Committee (PAC) mainly examines:
Related MCQs
An investment of Rs. 100,000 generates equal annual cash inflows of Rs. 25,000. The payback period is:
A.
2.5 years
B.
5 years
C.
4 years
D.
0.25 years
Correct answer is:
C. 4 years
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Excess expenditure over the grant approved by the legislature must be:
A.
Ignored
B.
Hidden in other accounts
C.
Regularized through an excess grant approved by the National Assembly
D.
Recovered from the Auditor-General
Correct answer is:
C. Regularized through an excess grant approved by the National Assembly
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EBIT is Rs. 300,000 and interest expense is Rs. 60,000. The times interest earned ratio is:
A.
0.2 times
B.
4 times
C.
6 times
D.
5 times
Correct answer is:
D. 5 times
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Under variable (direct) costing, fixed manufacturing overhead is treated as:
A.
A product cost
B.
A period cost
C.
A direct material cost
D.
An asset
Correct answer is:
B. A period cost
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A pure public good is characterized by:
A.
Non-rivalry and non-excludability
B.
Rivalry and excludability
C.
Rivalry and non-excludability
D.
Excludability only
Correct answer is:
A. Non-rivalry and non-excludability
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The weighted average cost of capital (WACC) is:
A.
The cost of equity only
B.
The average cost of all sources of capital weighted by their proportions in the capital structure
C.
The interest rate on the latest loan
D.
The dividend rate on preference shares only
Correct answer is:
B. The average cost of all sources of capital weighted by their proportions in the capital structure
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