Accountancy and Auditing
Marginal Costing & Break-even Analysis MCQs with Answers
What does marginal costing focus on? A) Total costs B) Variable costs C) Fixed costs D) The cost of capital…
Read More »Journal Entries in Accounting MCQs with Answers
What is the correct journal entry when a company purchases inventory on credit? A) Debit Accounts Payable, Credit Cash B)…
Read More »Job, Batch & Process Costing MCQs with Answers
Which of the following costing methods is used for manufacturing unique products? A) Job costing B) Batch costing C) Process…
Read More »IT & Information System Auditing MCQs with Answers
Which of the following is the main objective of IT auditing? A) To review financial statements B) To evaluate the…
Read More »Inventory Valuation Techniques MCQs with Answers
Which inventory valuation method assigns the most recent costs to inventory? A) FIFO (First-In, First-Out) B) LIFO (Last-In, First-Out) C)…
Read More »Introduction to Cost Accounting MCQs with Answers
What is the primary objective of cost accounting? A) To determine the profit of the company B) To track and…
Read More »Introduction to Auditing MCQs with Answers
What is the main purpose of an audit? A) To detect fraud B) To assess the financial health of a…
Read More »Introduction to Accounting MCQs with Answers
What is the primary objective of accounting? A) To prepare tax returns B) To provide financial information for decision-making C)…
Read More »International Standards on Auditing (ISA) MCQs with Answers
Which organization issues the International Standards on Auditing (ISA)? A) Financial Accounting Standards Board (FASB) B) International Accounting Standards Board…
Read More »International Financial Reporting Standards (IFRS) MCQs with Answers
What is the main objective of IFRS? A) To regulate tax laws B) To provide a global framework for financial…
Read More »Internal vs. External Auditing MCQs with Answers
Internal auditing is primarily concerned with: A) Expressing an opinion on financial statements B) Ensuring compliance with tax laws C)…
Read More »Internal Controls & Auditing Standards MCQs with Answers
What is the primary objective of internal controls? A) Detect fraud after it occurs B) Ensure the accuracy and reliability…
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