Correct Answer:
C. The Auditor-General of Pakistan
The Department of the Auditor-General of Pakistan is the national SAI.
November 13, 2026 · Accounting and Finance MCQs, Public Sector Accounting & Auditing MCQs
The Supreme Audit Institution (SAI) of Pakistan is:
Related MCQs
Under IAS 37, a provision is recognized when:
A.
There is a present obligation from a past event, an outflow is probable and a reliable estimate can be made
B.
A future loss is merely possible
C.
The management plans to spend money someday
D.
The auditor requires it
Correct answer is:
A. There is a present obligation from a past event, an outflow is probable and a reliable estimate can be made
Do you agree with this answer?
The Public Procurement Regulatory Authority (PPRA) in Pakistan is responsible for:
A.
Collecting income tax
B.
Regulating public procurement and making procurement rules
C.
Printing currency
D.
Auditing banks
Correct answer is:
B. Regulating public procurement and making procurement rules
Do you agree with this answer?
Treasury bills (T-bills) are:
A.
Long-term bonds with 30-year maturity
B.
Short-term government securities issued at a discount
C.
Shares of public companies
D.
Foreign exchange reserves
Correct answer is:
B. Short-term government securities issued at a discount
Do you agree with this answer?
Value for money in public audit refers to:
A.
Obtaining the best outcome from resources spent, with economy, efficiency and effectiveness
B.
Spending as little as possible regardless of outcome
C.
Spending the entire budget
D.
Maximizing revenue only
Correct answer is:
A. Obtaining the best outcome from resources spent, with economy, efficiency and effectiveness
Do you agree with this answer?
The quick (acid test) ratio excludes which item from current assets?
A.
Inventory
B.
Cash
C.
Trade receivables
D.
Short-term investments
Correct answer is:
A. Inventory
Do you agree with this answer?
Target costing computes the target cost as:
A.
Actual cost plus markup
B.
Target selling price minus desired profit
C.
Last year's cost plus inflation
D.
Variable cost only
Correct answer is:
B. Target selling price minus desired profit
Do you agree with this answer?
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