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FPSC Senior Auditor (BPS- 16) Past Papers

1) The meaning of the word procurement means.....

2) Cost center means.....
3).......the risk ......the materiality, the audit procedures.
4) Capital Account is ......... in nature.
5) Formula of Machine working hours was asked.
6) PAAS stands for?
7) Following are not the nominal accounts...
a) cash, unearned revenue.....
b) drawings, rent.....
8)a question about the super tax was asked
9)another question was about the Master budget
10)Increase in the value of assets is called...?
7) Financial statements are prepared:
8) The basic purpose of an accounting system is to:
9) Information is cost effective when:
10) Although accounting information is used by a wide variety ofexternal parties,
financial reporting is primarily directed toward the information needs of:
11) All of the following are characteristics of managerial accounting, except:
12) In comparison with a financial statement prepared in conformity with
generally accepted accounting principles, a managerial accounting report is more
likely to:
13) The nature of an asset is best described as:
14) The amount of owner's equity in a business is not affected by:
15) Inventory is considered a current asset because it:
16) The primary economic function of a wholesaler is to:
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17) The income statement of Laurel Company shows a large gross profit. This
means that Laurel:
18) In a perpetual inventory system, purchases of merchandise on account are
recorded by debiting:
19) Colby's General Store uses a periodic inventory system. At year-end, the
balance in the Inventory account is $8,500. Assuming that the inventory records
have been maintained properly, a year-end physical inventory:20) Ward Company
discovered that merchandise purchased on account was defective and returned this
merchandise to the supplier. The entry to record this return will reduce Ward's:
21) Which of the following should not be included as part of cash on the balance
sheet?
22) The financial statement which shows cash activity (receipts and disbursements)
during the accounting period is called a(n):
23) The principal purpose of a voucher system is to provide assurance that:
24) When a voucher system is in use, the finance department has access to each of
the following except:
25) Which of the following is not disclosed in a bank reconciliation?
26) During preparation of a bank reconciliation, interest earned on the average bank
balance during the month should be:
27) A company which uses the direct write-off method recognizes uncollectible
accounts expense:
28) Which of the following transactions would increase the net cash flow from
operating activities?
29) For purposes of preparing a cash flow statement, which of the following is not
considered a "cash equivalent"?
30) Warner Corporation reported net income in excess of its net cash flow from
operations. A possible explanation of this difference is:
31) An important distinction between the direct method and the indirect method of
preparing a statement of cash flows is that:
32) A corporation's free cash flow is its:
33) Which of the following is ordinarily computed and reported as part of the
financial statements of a large corporation?
34) The basic purpose in preparing classified financial statements is to:
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35) How would a company's current ratio be affected if a substantial amount of
accounts payable were paid in cash?
36) Assume that net sales are increasing faster than the rate of inflation, and that the
company's gross profit rate is falling. The most likely explanation is:
37) Assume that for several years, the net income of Delta-Baines (DB) has been
rising as a percentage of the company's net sales. Analysts normally would interpret
this to mean that:
38) Clay Corporation earns a rate of return on common stockholders' equity of 14%.
Which of the following will cause the rate of return to increase?
39) If more units are produced than the "normal" level, and the overhead spending
variance is favorable, then:
40) Which of the following unfavorable cost variances would be the least relevant
in evaluating the performance of a production supervisor?
41) A difference between the overhead applied to work in process at a standard and
the overhead budgeted for the level of output achieved:
42) SECP Stands for
43) IFRS Stands For
44) Opening and Ending Inventory
45) Auditor’s form no. 35A
46) The terms purchasing and procurement should not be seen as synonymous. As
such, which of the following statements do you think has greatest validity?
47) Generally, which sequence is most typical of the procurementprocess?
48) E-procurement aims to improve performance of what is known as the 'five
rights of purchasing'. One aim of e-procurement is increasing savings by sourcing
items:
48) Another aim of e-procurement is increased choice of supplier leading to
sourcing items:
49) Production related procurement refers to the purchasing of:
50) Negotiated contracts with regular suppliers typically in long-term relationships
is an example of:

FPSC Senior Auditor (BPS- 16) Test Past Papers

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Multiple Choice Questions MCQs test was conducted on 13th August 2017 in Four
Batches . Test held in all major cities of Pakistan . Candidates has shared the
questions which appeared in paper of Senior Auditor . Questions asked in all three
batches is as under:
Part 1- English MCQs
Fill in the sentences with most appropriate choice
1. Would you mind ____________on the light.
(A) Switch (B) Switching (C) To Switching (D) To Be Switching
2. The gentry ________ invited the party .
(A) has (B) Have been (c) have (d) was
3. Giving is better than
(a) receive (b) to receive (c) be received ( d) receiving
4. Either you are he is _________fault .
(a) is (b) are (c) have (d) were
5. I am feeling _________better today.
(a) too (b) very (c) rather (d) fairly
6. I have no _________against him .
(a) case (b) grudge (c) request (d) desire
7. Adequate _________must taken to avoid accidents.
(a) caution (b) precaution (c) warning (d) danger
8. The government has order a _________________inquiry into the police firing.
(a) governmental (b) judicial (c) legal (d) penal
9. You are old enough to _________your shoes laces yourself .
(a) Knit (b) tie (c) bind (d) tight
10. As a last ___________he has appealed to the princiapl
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(a) method (b) chance (c) resort (d) course
What is underlined part of the sentence
11. Borrowed garments never fit well .
(A) Subject (B) Pradicate (C) Conjunction (D) Position
12. He sold his house to John
(A) . Direct Object (B) Indirect Object ( C) Helping Verb (D) Verb
13. Running Fast they caught the last Bus
(A) Noun Phrase (B) Adjective Phrase (C) Adverb Phrase (D) Clause
14. Swimming is my favorite recreation.
(A) Participle (B) Compliment (C) Gerund ( D) Preposition
15. Rear Seats seem cramped
(A) Linking Verb (B) Direct Object (C) Indirect Object (D) Complement
16. Face your problems boldly
(A) Noun (b) Adjective (c) Adverb (d) Preposition
17. This house is to let .
(A) Infinitive (B) Preposition (C) Helping Verb (D) Interjection
18. We came after they had left
(A) Preposition (B) Adjective (C) Adverb (D) Conjunction
19. He showed much patience
(A) Adverb (B) Complement (C) Adjective (D) Preposition
20. Hush! Don't make the noise
(A) Preposition (B) Phrase (C) Clause (D) Interjection
Part 2 (Professional )
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21. Which System production Information used for inventory valuation, budgeting,
cost control, performance reporting, and make buy decisions?
(A) Sales Order Processing (B) Purchase Account Payable (C) Cash Disbursements
(D) None of These
22. The order of the entries made in the ledger is by :
(A) Transaction Number (B) Account Number (C)Date (D) None of These
23. In general , a special Journal would not be used to record :?
(A) Sales (B) Cash Disbursement (C) Depreciation (D) None of These
24. Subsidiary ledgers are used in manual accounting environments . What file is
comparable to a subsidiary ledger in a computerized environment?
(A) Archive File (B) Reference File (C) Transaction File (D) None of These
25. Which of the following is an archive File
(A) An account payable subsidiary ledger (B) A cash receipts file (C) A sales
journal (D) None of These
26. When determining the batch size , which consideration is the least important ?
(A) Achieving economies by grouping together large number of transactions
(B) Comply with legal mandates
(C) Providing control over the transaction process