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Group A Accountancy and Auditing Chapter Wise MCQs:

The Central Superior Services (denoted as CSS; or Bureaucracy) is an elite permanent bureaucratic authority, and the civil service that is responsible for running the civilian bureaucratic operations and government secretariats and directorates of the Cabinet of Pakistan.

Central Superior Services (CSS)->Group A->Accountancy and Auditing MCQs

Central Superior Services (CSS) Question:

Debt Equity Ratio refers to the ratio of:

A: Debtors to equity share capital
B: Long term debt to shareholders’ equity
C: Total debt to equity share capital
D: Long term debt to equity share capital
Answer: B

Central Superior Services (CSS) Question:

The following subdivisions form the subject matter of public finance.

A: Public expenditure, Public revenue
B: Public debt, Federal finance
C: Financial administration
D: All of these
Answer: D

Central Superior Services (CSS) Question:

Which basically deals with all aspects of resource mobilization and expenditure management in government?

A: Public Finance Management (PFM)
B: Economics
C: Public administration
D: Government administration
Answer: A

Central Superior Services (CSS) Question:

Which of the following are the essential components of a public financial management system?

A: Resource generation
B: Resource allocation
C: Expenditure management (resource utilization)
D: All of these
Answer: D

Central Superior Services (CSS) Question:

The purview of public finance is considered to be threefold: governmental effects on

A: efficient allocation of resources
B: distribution of income
C: macroeconomic stabilization
D: All of these
Answer: D

Central Superior Services (CSS) Question:

It is the branch of economics which assesses the government revenue and government expenditure of the public authorities and the adjustment of one or the other to achieve desirable effects and avoid undesirable ones.

A: Economics
B: Public administration
C: Government administration
D: Public finance
Answer: D

Central Superior Services (CSS) Question:

Trading on equity means:

A: Use of equity share capital for trade financing
B: Use of fixed-interest borrowed funds for getting a higher return on equity
C: Having no borrowed funds
D: Trading in equity share capital
Answer: B

Central Superior Services (CSS) Question:

Fiscal deficit in the budget means:

A: Revenue deficit plus the net borrowings of the government
B: Budgetary deficit plus the net borrowings of the government
C: Capital deficit plus revenue deficit
D: Primary deficit minus capital deficit
Answer: B

Central Superior Services (CSS) Question:

The tax is___________:

A: National income
B: Domestic income
C: Per capita income
D: Both A and B
Answer: A

Central Superior Services (CSS) Question:

Which of the following is involved with fiscal policy?

A: Income tax
B: National insurance
C: VAT
D: All of these
Answer: D

Central Superior Services (CSS) Question:

An expansionist fiscal policy could include:

A: Lower interest rates
B: Increased lending by the banks
C: An increase in corporation tax
D: An increase in discretionary government spending
Answer: D

Central Superior Services (CSS) Question:

This tax is a good example of ability to pay principle of taxes:

A: Highway toll tax
B: Excise tax on cigar
C: Proportional sales tax
D: Personal income tax
Answer: D

Central Superior Services (CSS) Question:

In Pakistan, the authority to levy taxes lies with:

A: Prime minister of Pakistan
B: President of Pakistan
C: Federal cabinet of ministers
D: National assembly
Answer: D

Central Superior Services (CSS) Question:

Which is a principle of taxation?

A: Principle of honesty
B: Principle of morality
C: Principle of secrecy
D: Principle of economy
Answer: D

Central Superior Services (CSS) Question:

Progressive taxes are:

A: Increase government revenue
B: Bring equality in distribution of incomes
C: Compel rich people to be honest
D: Both a & b
Answer: D

Central Superior Services (CSS) Question:

The most important source of income of a government is:

A: Taxes
B: Sale of government property
C: Sprinting of new money
D: Foreign loans
Answer: A

Central Superior Services (CSS) Question:

Who is Tax payer?

A: Businessman
B: Trust
C: Assessee
D: Farmer
Answer: C

Central Superior Services (CSS) Question:

Government policies that focus on changing taxes and government spending are called:

A: Fiscal policies
B: Monetary policies
C: Incomes policies.
D: Supply-side policies.
Answer: A