Senior Auditor Batch 3 Past Papers 2018

FPSC Senior Auditor Past Paper 2018

This test was taken on 13th August 2018. We have collected these questions from Senior Auditor aspirants. It was impossible to get all the 100 Questions so we collected as much as possible. These are the questions from Senior Auditor’s paper conducted on 13 August 2018. The test was taken in 4 batches all over Pakistan. Good luck and remember me in your prayers. 
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1.      Another aim of e-procurement is an increased choice of supplier leading to sourcing items?

2.      Production-related procurement refers to the purchasing of?

3.      Negotiated contracts with regular suppliers typically in long-term relationships is an example of?

4.      The principal purpose of a voucher system is to provide assurance that?

5.      When a voucher system is in use, the finance department has access to each of the following except?

6.      Which of the following is not disclosed in a bank reconciliation?

7.      During the preparation of bank reconciliation, interest earned on the average bank balance during the month should be?

8.      A company which uses the direct write-off method recognizes uncollectible accounts expense?

9.      Which of the following transactions would increase the net cash flow from operating activities?

10.  For purposes of preparing a cash flow statement, which of the following is not considered a "cash equivalent"?

11.  Warner Corporation reposed net income in excess of its net cash flow from operations. A possible explanation of this difference is:

12.  An important distinction between the direct method and the indirect method of preparing a statement of cash flows is that?

13.  A corporation's free cash flow is its:

14.  Which of the following is ordinarily computed and reposed as part of the financial statements of a large corporation?

15.  The basic purpose of preparing classified financial statements is to:

16.  How would a company's current ratio be affected if a substantial amount of accounts payable were paid in cash?

17.  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?
19.  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?

20.  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?
21.  If more units are produced than the "normal" level, and the overhead spending variance is favorable, then?

22.  Which of the following unfavorable cost variances would be the least relevant in evaluating the performance of a production supervisor?

23.  A difference between the overhead applied to work in process at a standard and the overhead budgeted for the level of output achieved?

24.  SECP Stands for?

25.   IFRS Stands for?

26.  Opening and Ending Inventory?

27.  Auditor's form no. 35A?

28.  The terms purchasing and procurement should not be seen as synonymous. As such, which of the following statements do you think has the greatest validity?

29.  Generally, which sequence is most typical of the procurement process?

30. E-procurement aims to improve the performance of what is known as the 'five rights of purchasing'. One aim of e-procurement is increasing savings by sourcing items?

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