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.
Auditing is compulsory for____________?
A: Small scale business
B: Partnership firms
C: Joint stock Companies
D: Proprietary Concerns
Joint stock Companies
Concealment of shortage by delaying the recording of cash receipts is known as_____________?
A: Embezzlement
B: Misappropriation
C: Lapping
D: None of these
Lapping
The fundamental objective of the audit of a company is to_____________?
A: Protect the interests of the minority shareholders
B: Detect and prevent errors and fraud
C: Assess the effectiveness of the companys performance
D: Attest to the credibility of the companys accounts
Attest to the credibility of the companys accounts
The concept of stewardship means that a companys directors________________?
A: Are responsible for ensuring that the company complies with the law
B: Are responsible for ensuring that the company pays its tax by the due date
C: Safeguard the companys assets and manage them on behalf of the shareholders
D: Report suspected fraud and money laundering to the authorities
Safeguard the companys assets and manage them on behalf of the shareholders
Why do auditors concentrate their efforts on material items in accounts?
A: Because they are easier to audit
B: Because it reduces the audit time
C: Because the risk to the accounts of their being incorrectly stated is greater
D: Because the directors have asked for it
Because the risk to the accounts of their being incorrectly stated is greater
Which of the following is NOT the responsibility of a companys directors?
A: Reporting to the shareholders on the accuracy of the accounts
B: Establishment of internal controls
C: Keeping proper accounting records
D: Supplying information and explanations to the auditor
Reporting to the shareholders on the accuracy of the accounts
____________ is a systematic examination of the books and records or a business?
A: Auditing
B: Vouching
C: Verification
D: Checking
Auditing
The term Audit is derived from a Latin word audire which means___________?
A: To inspect
B: To examine
C: To hear
D: To investigate
To hear
Motivating the employees is classified as___________?
A: Informational role
B: Interpersonal role
C: Decisional role
D: Conceptual role
Interpersonal role
The Mental Process to interpret environment as per ones own understanding is known as:____________?
A: Perception
B: Personality
C: Attitude
D: Ability
Perception