FESCO Assistant Directors Accounts Finance Audit Revenue Officer Jobs 2023 NTS Written Test Top 25 MCQs Paper PDF along with Answers Apply Online
Assistant Directors Accounts Finance Audit Revenue Officer FESCO Jobs 2023 NTS Written Test MCQs Syllabus Paper PDF Online Application Form Last Date 25-08-2023.
Assistant Directors FESCO Top 25 MCQs (Multiple Choice Questions) along with their answers related to Accounts, Finance, Audit, and Revenue Officer Faisalabad Electric Supply Company Limited (FESCO) Jobs Online Written Test Paper through NTS.
FESCO Accounts, Finance, Audit, Revenue NTS Top 25 MCQs Paper PDF
Which financial statement shows the company’s revenues, expenses, and net income over a specific period?
A) Balance sheet
B) Cash flow statement
C) Income statement
D) Statement of retained earnings
Answer: C)
The process of systematically and objectively examining financial statements and records is known as:
A) Budgeting
B) Auditing
C) Forecasting
D) Taxation
Answer: B)
What does the term “ROI” commonly stand for in the context of finance?
A) Return on Investment
B) Rate of Interest
C) Revenue on Investment
D) Risk of Inflation
Answer: A)
Which accounting principle states that expenses should be recognized when they are incurred and matched with the revenues they generate?
A) Matching principle
B) Conservatism principle
C) Materiality principle
D) Consistency principle
Answer: A)
The financial ratio that measures a company’s ability to cover its short-term obligations with its short-term assets is called the:
A) Debt-to-Equity ratio
B) Current ratio
C) Return on Equity (ROE)
D) Gross Margin ratio
Answer: B)
Which financial statement provides information about a company’s cash inflows and outflows during a specific period?
A) Balance sheet
B) Income statement
C) Cash flow statement
D) Statement of comprehensive income
Answer: C)
In the context of revenue recognition, when is revenue generally recognized?
A) When the product is manufactured
B) When the customer places an order
C) When the payment is received
D) When the goods or services are delivered and earned
Answer: D)
Which accounting method records revenue when it’s earned and expenses when they’re incurred, regardless of when cash is exchanged?
A) Accrual basis
B) Cash basis
C) Gross basis
D) Net basis
Answer: A)
The financial statement that summarizes a company’s assets, liabilities, and shareholders’ equity at a specific point in time is the:
A) Income statement
B) Cash flow statement
C) Statement of retained earnings
D) Balance sheet
Answer: D)
What is the primary purpose of an internal audit within an organization?
A) To prepare financial statements
B) To provide an opinion on financial statements
C) To detect and prevent fraud and errors
D) To provide external stakeholders with information
Answer: C)
The term “working capital” refers to:
A) The capital invested in the company’s long-term projects
B) The funds available for short-term operational needs
C) The total equity of the company
D) The net income generated by the company
Answer: B)
Which financial statement shows the changes in retained earnings for a specific period?
A) Balance sheet
B) Cash flow statement
C) Income statement
D) Statement of retained earnings
Answer: D)
What is the primary role of a revenue officer in an organization?
A) Preparing financial statements
B) Managing internal audits
C) Overseeing revenue collection and compliance
D) Providing legal advice
Answer: C)
Which financial ratio measures the efficiency of a company’s use of its assets to generate sales?
A) Debt-to-Equity ratio
B) Return on Assets (ROA)
C) Current ratio
D) Gross Margin ratio
Answer: B)
The process of estimating future financial trends based on historical data and analysis is called:
A) Auditing
B) Forecasting
C) Budgeting
D) Taxation
Answer: B)
Which accounting concept assumes that a company will continue to operate and fulfill its commitments in the foreseeable future?
A) Materiality principle
B) Going concern principle
C) Conservatism principle
D) Consistency principle
Answer: B)
What is the formula for calculating gross profit?
A) Total Revenue – Total Expenses
B) Total Assets – Total Liabilities
C) Total Revenue – Cost of Goods Sold
D) Total Liabilities – Total Equity
Answer: C)
The financial statement that presents a summary of a company’s revenues, expenses, and net income or loss for a specific period is the:
A) Balance sheet
B) Income statement
C) Statement of retained earnings
D) Cash flow statement
Answer: B)
What is the primary purpose of a balance sheet?
A) To show a company’s revenues and expenses
B) To provide information about cash inflows and outflows
C) To report changes in shareholders’ equity
D) To present the company’s financial position at a specific point in time
Answer: D)
The financial ratio that indicates the proportion of a company’s financing that comes from debt relative to equity is the:
A) Current ratio
B) Debt-to-Equity ratio
C) Return on Assets (ROA)
D) Gross Margin ratio
Answer: B)
Which accounting principle guides the process of recording expenses and revenues in the same accounting period to which they relate?
A) Matching principle
B) Conservatism principle
C) Materiality principle
D) Consistency principle
Answer: A)
What is the purpose of a cash flow statement?
A) To provide a summary of a company’s financial position
B) To report changes in shareholders’ equity
C) To show a company’s revenues and expenses
D) To provide information about cash inflows and outflows
Answer: D)
The financial ratio that measures the relationship between a company’s net profit and its total revenue is the:
A) Debt-to-Equity ratio
B) Return on Assets (ROA)
C) Net Profit Margin ratio
D) Gross Margin ratio
Answer: C)
In the context of revenue recognition, revenue is generally recognized when:
A) The order is received from the customer
B) Cash is received from the customer
C) Goods or services are delivered and earned
D) The customer places an order
Answer: C)
What is the purpose of an external audit conducted by an independent auditor?
A) To prepare financial statements
B) To manage the company’s investments
C) To provide legal advice
D) To provide an opinion on the accuracy of financial statements
Answer: D)
Final Note: This MCQs Written Test Paper is Questions and Answers for illustrative purposes. Make sure to review and study full materials related to accounts, finance, audit, and revenue to thoroughly prepare for your written test.
FESCO Assistant Directors Accounts Finance Audit Revenue Officer Jobs 2023 NTS Written Test Top 25 MCQs Paper PDF along with Answers Apply Online