Correct Answer:
D. Article 171
Article 171 deals with reports of the Auditor-General relating to Federation accounts.
November 13, 2026 · Accounting and Finance MCQs, Public Sector Accounting & Auditing MCQs
Which Article of the Constitution of Pakistan provides for reports of the Auditor-General to be submitted to the President to be laid before Parliament?
Related MCQs
A disclaimer of opinion is given when the auditor:
A.
Cannot obtain sufficient appropriate audit evidence and the possible effects are material and pervasive
B.
Finds that the financial statements are fairly presented
C.
Wants to avoid doing the audit work
D.
Finds minor errors in the cash book
Correct answer is:
A. Cannot obtain sufficient appropriate audit evidence and the possible effects are material and pervasive
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The Federal Consolidated Fund of Pakistan is established under:
A.
Article 78 of the Constitution
B.
Article 62 of the Constitution
C.
Article 100 of the Constitution
D.
Article 184 of the Constitution
Correct answer is:
A. Article 78 of the Constitution
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Which body issues the International Standards on Auditing (ISAs)?
A.
International Accounting Standards Board (IASB)
B.
International Auditing and Assurance Standards Board (IAASB)
C.
International Monetary Fund (IMF)
D.
World Trade Organization (WTO)
Correct answer is:
B. International Auditing and Assurance Standards Board (IAASB)
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An annuity due is an annuity in which payments are made:
A.
At the end of each period
B.
At the beginning of each period
C.
Only once
D.
Never
Correct answer is:
B. At the beginning of each period
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Subsidies are best defined as:
A.
Taxes imposed on producers
B.
Payments by the government to producers or consumers to reduce the price or cost of goods and services
C.
Penalties on consumers
D.
Loans from abroad
Correct answer is:
B. Payments by the government to producers or consumers to reduce the price or cost of goods and services
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Zero-based budgeting (ZBB) requires that:
A.
Last year's budget be increased by inflation
B.
Every expenditure be justified from zero in each budget cycle
C.
Budgets be zero in the first year
D.
No deficit be allowed
Correct answer is:
B. Every expenditure be justified from zero in each budget cycle
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