The 'Test of Details' includes: MCQ with Answer and Explanation

Question Report Error

The 'Test of Details' includes:

A. Trend analysis

B. Vouching, tracing, and inspection of documents

C. Ratio analysis

D. Budget comparison

Answer: Option B

Solution (By JKExamLibrary)

Test of details are specific tests of transactions and balances.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Accountancy and Book Keeping Questions

Question #1 Report Error

The 'CGU' is the smallest identifiable group of assets that:

A. Is a legal entity

B. Has highest revenue

C. Has most employees

D. Generates cash inflows independently

View Answer & Solution Discuss

Correct Answer: Option D

Explanation:
Definition of CGU per Ind AS 36.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #2 Report Error

The 'Charged Expenditure' on the Consolidated Fund includes:

A. Defense expenditure

B. Salary of President and CAG

C. Road construction

D. Education expenditure

View Answer & Solution Discuss

Correct Answer: Option B

Explanation:
Charged expenditure includes emoluments of President, Judges, CAG, etc., which are non-votable.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #3 Report Error

PFMS facilitates 'Just-in-Time' release of funds. This means:

A. Funds are released when required, minimising idle balances

B. Funds are never released

C. Funds are released annually

D. Funds are released in advance

View Answer & Solution Discuss

Correct Answer: Option A

Explanation:
Just-in-Time in PFMS reduces float and improves cash management for government.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Explore All Accountancy and Book Keeping MCQs