Management Sciences MCQs
These Management Sciences MCQs are for public service commission exams and BBA, and MBA students to prepare for their examinations. All MCQs are prepared after having a look at past papers of public service commission examinations held from time to time. These Management Science questions are very important for all types of tests conducted by FPSC, NTS, KPPSC, PPSC, SPSC, BPSC, OTS, UTS, PTS, CTS, ATS, STS, ETEA, and other testing agencies of Pakistan.
The amount invested by the proprietor to start the business is called:
A: Capital
B: Business
C: Drawings
D: All of them
Capital
Auditing engagement can be performed w.r.t.
A: Profit making entity
B: Non-profit making entity
C: Corporate entity only
D: Any entity
Any entity
Scope of financial audit is__________?
A: Financial information
B: Non-financial information
C: Both (a) and (b)
D: None of these
Financial information
Which of the following is not type of engagement standard?
A: Standards on Auditing
B: Standard on Quality Control
C: Standards on Review Engagement
D: Standards on Assurance Engagement
Standard on Quality Control
You have been proposed as auditor of a company. What is the first step that you should take?
A: Obtain the clients permission to communicate with the existing auditor
B: Obtain the existing auditors working papers
C: Obtain a copy of the companys most recent board minutes
D: Obtain a copy of the existing auditors letter of engagement
Obtain the clients permission to communicate with the existing auditor
Which of these are types of Audit Report?
A: Unqualified opinion
B: Qualified opinion
C: Adverse opinion
D: Disclaimer of opinion. All of above
All of above
Pick the odd one:
A: Checking the vouchers
B: Preparation of vouchers
C: Evaluation of internal control
D: None of the above
Preparation of vouchers
An auditor should not accept a loan on favourable commercial terms from an audit client because of the threat to his or her independence. The threat would be a___________?
A: Self-interest threat
B: Self-review threat
C: Advocacy threat
D: Familiarity threat
Self-interest threat
Which of the following are fundamental ethical principles for professional accountants? 1 Competence 2 Compliance 3 Integrity 4 Objectivity
A: 1, 2 and 3 only
B: 1, 3 and 4 only
C: 2, 3 and 4 only
D: 1, 2 and 4 only
1, 3 and 4 only