Senior Auditor Past Paper 2019

Q41: In which of the following situations should the named company not record any depreciation expense on the asset described?

مندرجہ ذیل میں سے کس میں نامزد کمپنی کو بیان کردہ اثاثہ پر کسی فرسودگی کے اخراجات کو ریکارڈ نہیں کرنا چاہئے؟

Computer Sales Company has in inventory a new type of computer, designed “never to become obsolete.”

Metro Advertising owns an office building that has been increasing in value each year since it was purchased.

Commuter Airline is required by law to maintain its aircraft in “as good as new” condition.

None of these

Q42: Which of the following actions is least likely to increase a company's accounts receivable turnover?

مندرجہ ذیل میں سے کون سے اقدامات سے کم از کم کمپنی کے اکاؤنٹس میں قابل وصول کاروبار میں اضافہ ہوتا ہے؟

Offer customers larger cash discounts for making early payments.

Encouraging customers to use bank credit cards, such as visa and mastercard, rather than other national credits, such as american express.

Borrowing money, pledging accounts receivable as collection.

None of these

Q43: How many procedures have been following for the best competitive bidding?

بہترین مسابقتی بولی لگانے کے لئے کتنے طریقہ کار پر عمل پیرا ہیں؟

4

2

3

None of these

Open Tendering – Anyone can bid; most competitive.

Q44: She clearly didn't take time to give time to the issue, so we didn't _____ the point.

Follow

Pursue

Chase

None of these

Q45: Farah remained calm when she won the best employee award and _____ about her business as if nothing had happened.

Went

Came

Brought

None of these

Q46: An Accounting Officer or Chief Executive may delegate the procurement function of procuring entity to _______?

ایک اکاؤنٹنگ آفیسر یا چیف ایگزیکٹو حصول کے حصول کی خریداری کے کام کو _______ پر دے سکتا ہے؟

Another procuring entity

A third part procurement agents

A sub-division of that entity

None of these

Q47: Assuming a single journal entry is made to adjust Quinn Company's accounting records at January 31, the journal entry includes ______?

فرض کریں کہ 31 جنوری کو کوئن کمپنی کے اکاؤنٹنگ ریکارڈز کو ایڈجسٹ کرنے کے لئے ایک ہی جریدے کا اندراج کیا گیا ہے ، جرنل کے اندراج میں ______ شامل ہے؟

A credit to Cash for $450.

A debit to Rent Expense for $90.

A credit to Accounts Receivable, G. Denton, for $426.

None of these

Q48: Teenages enjoy ______ outdoor games.

Playing

To play

Play

None of these

Q49: T-shirt City uses a periodic inventory system. During the first year of operations, the company made four purchases of a particular product. Each purchase was for 500 units and the prices paid were $9 per unit in the first purchase, $10 per unit in the second purchase, $12 per unit in the third purchase, and $13 per unit in the fourth purchase. At the year-end, 650 of these units remained unsold. Compute the cost of goods sold under the FIFO method and LIFO method, respectively.

$16,000 (FIFO) and $13,700 (LIFO)

$13,700 (FIFO) and $16,000 (LIFO)

$8,300 (FIFO) and $6,000 (LIFO)

None of these

500 units @ $9 = $4,500

Q50: The most difficult type of misstatement to detect fraud is based on ______?

دھوکہ دہی کا پتہ لگانے کے لئے سب سے مشکل قسم کی غلط بیانی ______ پر مبنی ہے؟

Omission of a sales transaction from being recorded.

Related part purchases.

Related party sales.

None of these