Q. 2
What system of Internal check would you recommend for a large manufacturing company to prevent fraud in connection with the purchase of raw material on credit basis?
(20)
FPSC · CSS 2017
Accountancy & Auditing, Paper II
This paper
Accountancy & Auditing · all yearsQ. 2 · What system of Internal check…Q. 3 · A fraud has been committed…Q. 4 · What is meant by Auditor's…Q. 5 · Define the concept of sales…Q. 7 · Identify the major barriers that…Q. 8 · Describe the economic systems, also…With this paper← 20172018 →3 hours · questions hide until you reveal them
Not yet checked 3 of 6 questions have not yet been compared with the official paper.
Section A
Q. 3
A fraud has been committed in a business. Being a Manager of Accounts you are asked by the authorities to take up investigative measures and steps to extract the fraudulent matter. Discuss the measures and steps you will take in this regard.
(20)
Q. 4
What is meant by Auditor's Report? Describe the key characteristics of a good audit report, along with the significance of Auditor's report to show the transparent picture of the company.
(20)
Section B
Q. 5
- (a)Define the concept of sales tax & describe the sales tax act of 1990.Identify the official positions of Inland revenue officers and their powers.
- (b)Mr. Sartaj is registered under the Sales Tax Act, 1990 as a manufacturer as well as a commercial importer.
Not yet checked
(20)
Section C
Q. 7
- (a)Identify the major barriers that hamper global business in an open economy.
- (b)Consider a coupon bond that has a face value of $1000, has a yield of 16%, pays a semi annual coupon of 70, and matures in one year 'assuming that the bond will pay the face value amount that the cost coupon payment on the maturity date.
Not yet checked
(20)
Q. 8
- (a)Describe the economic systems, also Identify which system is more beneficial for the economic development of the country.
- (b)XYZ company presently pays a dividend of $ 1.50 per share on its common stock.
Not yet checked
(20)
Related papers
Accountancy & Auditing 2009Accountancy & Auditing 2010Accountancy & Auditing 2011Accountancy & Auditing 2012Accountancy & Auditing 2013Accountancy & Auditing 2013Accountancy & Auditing 2015Accountancy & Auditing 2017Accountancy & Auditing 2018Accountancy & Auditing 2018Accountancy & Auditing 2019Accountancy & Auditing 2019Accountancy & Auditing 2020Accountancy & Auditing 2020Accountancy & Auditing 2021Accountancy & Auditing 2022Accountancy & Auditing 2022Accountancy & Auditing 2023Accountancy & Auditing 2023Accountancy & Auditing 2024Accountancy & Auditing 2024Accountancy & Auditing 2025Accountancy & Auditing 2025Accountancy & Auditing 2026Accountancy & Auditing 2026Accountancy & Auditing 2017Agriculture & Forestry 2017Anthropology 2017Applied Mathematics 2017Arabic 2017Botany 2017Botany 2017British History 2017Chemistry 2017Chemistry 2017Comparative Study of Major Religions 2017Computer Science 2017Constitutional Law 2017Criminology 2017Current Affairs 2017Economics 2017English Essay 2017English Literature 2017English (Précis & Composition) 2017Environmental Sciences 2017European History 2017Gender Studies 2017General Science & Ability 2017Governance & Public Policies 2017History of Pakistan & India 2017History of USA 2017International Law 2017International Relations 2017International Relations 2017Islamic History & Culture 2017Islamic Studies 2017Journalism & Mass Communication 2017Law 2017Mercantile Law 2017Muslim Law & Jurisprudence 2017Pakistan Affairs 2017Philosophy 2017Physics 2017Political Science 2017Political Science 2017Psychology 2017Public Administration 2017Punjabi 2017Pure Mathematics 2017Sociology 2017Zoology 2017
About this paper
The 2017 CSS Accountancy & Auditing paper set by the FPSC. Question wording only; questions marked “Not yet checked” have not been compared with the official paper yet.
Disclaimer Prep Right is independent and not affiliated with FPSC.