Correct Answer:
B. Cause to be laid before the National Assembly a statement of estimated receipts and expenditure for each financial year (annual budget statement)
Article 80 deals with the Annual Budget Statement.
November 13, 2026 · Accounting and Finance MCQs, Public Finance & Budgeting MCQs
Under Article 80 of the Constitution of Pakistan, the Federal Government is required to:
Related MCQs
A qualified audit certificate on government accounts may be given when:
A.
The accounts are perfect
B.
The auditor finds material errors or is unable to obtain sufficient evidence on specific items
C.
The department refuses to pay audit fees
D.
The budget is surplus
Correct answer is:
B. The auditor finds material errors or is unable to obtain sufficient evidence on specific items
Do you agree with this answer?
The main purpose of segregation of duties is to:
A.
Reduce the number of employees
B.
Increase the speed of processing
C.
Prevent one person from controlling authorization, custody and recording of a transaction
D.
Replace the need for an audit
Correct answer is:
C. Prevent one person from controlling authorization, custody and recording of a transaction
Do you agree with this answer?
The primary goal of financial management is generally considered to be:
A.
Maximization of current year profit
B.
Minimization of taxes only
C.
Maximization of shareholders' wealth
D.
Maximization of sales
Correct answer is:
C. Maximization of shareholders' wealth
Do you agree with this answer?
Fund accounting is commonly used in the public sector because:
A.
Government has no assets
B.
All money is treated as one pool
C.
It avoids the need for budgets
D.
Resources are separated into funds according to purposes or legal restrictions
Correct answer is:
D. Resources are separated into funds according to purposes or legal restrictions
Do you agree with this answer?
Fiscal federalism deals with:
A.
The monetary policy of the central bank
B.
Only international trade
C.
Only local taxes
D.
The division of revenue-raising and spending responsibilities among levels of government
Correct answer is:
D. The division of revenue-raising and spending responsibilities among levels of government
Do you agree with this answer?
A manager who is responsible for both revenues and costs of a division is in charge of a:
A.
Cost center
B.
Profit center
C.
Revenue center only
D.
Investment center only
Correct answer is:
B. Profit center
Do you agree with this answer?
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