Here are some multiple-choice questions (MCQs) based on each chapter of the "Manual of

Accounting Principles" (MAP):

---

### Chapter 1: Overview - Purpose and Scope

1. What is the primary purpose of the Manual of Accounting Principles (MAP)?

- A) To provide general information about government policies

- B) To set accounting principles for government transactions

- C) To outline tax collection methods

- D) To define the structure of Parliament sessions

- **Answer:** B

2. Which part of the MAP contains the financial and accounting responsibilities of organizations?

- A) Part 1

- B) Part 2

- C) Part 3

- D) Schedule 1

- **Answer:** C

3. According to MAP, which document outlines specific rules and procedures for recording
transactions?

- A) Financial Reporting Manual

- B) Rules of Business

- C) Accounting Policies and Procedures Manual

- D) Auditor-General’s Directive

- **Answer:** C

---

### Chapter 2: Accounting Concepts

4. Which funds are the Provincial and Federal Governments required to maintain under MAP?

- A) Development Fund and Trust Account

- B) Reserve Fund and Special Account

- C) Consolidated Fund and Public Account

- D) Savings Fund and Investment Account

- **Answer:** C

5. In the Accounting Model, which basis is used for government accounting according to MAP?

- A) Full accrual

- B) Modified cash

- C) Single entry

- D) Mixed method

- **Answer:** B

6. Internal control as per MAP is primarily designed to:

- A) Ensure compliance with tax regulations

- B) Detect and prevent fraud and errors

- C) Estimate government revenue accurately

- D) Secure assets and liabilities

- **Answer:** B

7. Under MAP, budgeting consists of which of the following steps?

- A) Policy setting, budget preparation, authorization, and performance review

- B) Fund allocation, transaction processing, and approval

- C) Tax rate adjustments, policy setting, and verification

- D) Revenue recognition, fund distribution, and compliance checking

- **Answer:** A

---
### Chapter 3: Accounting Policies

8. According to MAP, the financial year for government accounting is defined as:

- A) January 1 - December 31

- B) April 1 - March 31

- C) July 1 - June 30

- D) October 1 - September 30

- **Answer:** C

9. Which document format is mandatory for recording transactions under MAP?

- A) Pencil entries

- B) Digital-only entries

- C) Inked entries in pre-numbered pages

- D) Post-dated entries

- **Answer:** C

10. Under MAP, “Liabilities” are defined as:

- A) Probable future benefits

- B) Ownership rights

- C) Future sacrifices of economic benefits

- D) Reversible obligations

- **Answer:** C

11. Which qualitative characteristic ensures that financial information helps users make predictions?

- A) Reliability

- B) Relevance

- C) Materiality

- D) Comparability

- **Answer:** B

---
### Chapter 4: Financial and Accounting Responsibilities

12. The primary role of the Public Accounts Committee (PAC) is to:

- A) Prepare government budgets

- B) Approve government financial policies

- C) Examine and report on government accounts

- D) Establish tax rates

- **Answer:** C

13. The Auditor-General’s Office has authority over which of the following?

- A) Federal and Provincial accounting records

- B) Foreign investments of the government

- C) Internal control of public corporations

- D) Government tax revenue collection

- **Answer:** A

14. Who is accountable to the Auditor-General of Pakistan as per MAP?

- A) Ministry of Finance

- B) Provincial Assemblies

- C) Accountants-General Offices

- D) Public Accounts Committee

- **Answer:** C

---

### Chapter 5: Administrative Financial Responsibilities

15. Which officer is responsible for ensuring compliance with financial policies within an entity?

- A) Auditor-General

- B) Principal Accounting Officer

 - C) Project Director

- D) State Bank of Pakistan official

- **Answer:** B

16. In the MAP, Finance and Accounts Officers are primarily responsible for:

- A) Establishing tax policies

- B) Verifying financial transactions and records

- C) Approving government budgets

- D) Maintaining Treasury accounts

- **Answer:** B

---

### Chapter 6: Schedule 1 - Self-Accounting Entities

17. Self-accounting entities under MAP are:

- A) Entities that follow specific government-set rules for accounting

- B) Required to maintain their own financial records independently

- C) Exempt from all financial regulations

- D) Responsible for collecting taxes

- **Answer:** B

---

### Chapter 7: Schedule 2 - Exempt Entities

18. According to MAP, exempt entities are:

- A) Listed in Schedule 1

- B) Required to comply with central accounting policies

- C) Exempt from following MAP accounting standards

- D) Managed by the Ministry of Finance directly

 - **Answer:** C

19. Which of the following is NOT true about exempt entities under MAP?

- A) They are listed in Schedule 2

- B) They must follow the same procedures as central accounting entities

- C) They do not adhere to MAP accounting principles

- D) They operate under separate rules

- **Answer:** B

Here are additional MCQs to provide further coverage of key topics in the "Manual of Accounting
Principles" (MAP):

---

### Chapter 1: Overview - Purpose and Scope

1. Which of the following best describes an "accounting entity" as per MAP?

- A) Any unit with direct funding from private organizations

- B) Only Federal ministries

- C) Units funded by appropriations from Federal or Provincial Governments

- D) Only units with their own self-accounting systems

- **Answer:** C

2. In MAP, compliance with the manual is:

- A) Optional

- B) Suggested for self-accounting entities only

- C) Mandatory for all accounting entities

- D) Determined by the Accountant-General’s Office

- **Answer:** C

3. Updates to MAP are primarily the responsibility of:

 - A) Ministry of Finance

- B) Public Accounts Committee

- C) Auditor-General of Pakistan

- D) State Bank of Pakistan

- **Answer:** C

---

### Chapter 2: Accounting Concepts

4. The Consolidated Fund in MAP primarily includes:

- A) Government grants and donations

- B) Taxes, loans, and repayment of loans

- C) Private investments and fees

- D) Sales of government-owned assets only

- **Answer:** B

5. Which constitutional article mandates the establishment of the Consolidated Fund and Public
Account?

- A) Article 123

- B) Article 80

- C) Article 78

- D) Article 170

- **Answer:** C

6. Which of the following is classified as a “commitment” under MAP?

- A) An asset owned by the government

- B) A future cash payment obligation authorized under an expenditure schedule

- C) Revenue earned by a self-accounting entity

- D) Budget allocation for unforeseen expenses

- **Answer:** B
7. Under MAP, a modified cash basis of accounting includes:

- A) Recognizing commitments and certain assets and liabilities

- B) Following full accrual accounting standards

- C) Recording cash transactions only

- D) Excluding any future liabilities

- **Answer:** A

---

### Chapter 3: Accounting Policies

8. In MAP, corrections to errors in accounting records should be made by:

- A) Using an eraser or correction fluid

- B) Reversing the original entries and posting correct entries

- C) Marking entries in red ink

- D) Removing incorrect pages and replacing them with new ones

- **Answer:** B

9. Revenues in MAP are recognized on a cash basis, which means:

- A) They are recorded when earned, regardless of payment

- B) They are recorded when cash is received

- C) They are recorded when an invoice is issued

- D) They are anticipated in the next year’s budget

- **Answer:** B

10. Financial reports under MAP should provide information that is:

- A) Complicated and thorough

- B) Summarized in basic terms

- C) Comprehensive, relevant, and reliable

- D) Limited to internal use only

 - **Answer:** C

11. Which of the following is NOT considered a primary user of financial reports in MAP?

- A) General public

- B) External auditors

- C) Government ministries

- D) Private investors

- **Answer:** D

12. The principle of “materiality” in MAP implies:

- A) All information must be disclosed, regardless of relevance

- B) Minor errors are acceptable if they do not impact decisions

- C) Only essential information influencing decisions should be included

- D) Information should be disclosed at a minimum cost

- **Answer:** C

---

### Chapter 4: Financial and Accounting Responsibilities

13. The Auditor-General’s Office, under MAP, is responsible for which of the following?

- A) Managing government investments

- B) Conducting the internal audit for all entities

- C) Certifying and reporting on government accounts

- D) Developing financial policies

- **Answer:** C

14. The Ministry of Finance under MAP oversees:

- A) Budget compilation, foreign borrowing, and financial monitoring

- B) Internal audit for all government entities

- C) Certification of financial statements

 - D) Legal disputes and tax exemption management

- **Answer:** A

15. Accountability of the Central Board of Revenue (CBR) is directly to:

- A) Auditor-General of Pakistan

- B) Federal Government

- C) Provincial Governments

- D) Finance Minister

- **Answer:** D

16. Which of the following offices is primarily responsible for reporting on monthly and quarterly
accounts of each province?

- A) Ministry of Finance

- B) Public Accounts Committee

- C) Auditor-General’s Office

- D) Accountants-General’s Office

- **Answer:** D

---

### Chapter 5: Administrative Financial Responsibilities

17. The responsibility of ensuring asset stewardship and fraud prevention within an entity lies with:

- A) Finance and Accounts Officers

- B) Principal Accounting Officer

- C) Auditor-General

- D) Internal Audit Officer

- **Answer:** D

18. Which officer under MAP is responsible for monitoring and reporting performance on budget
implementation?

- A) Financial Adviser
 - B) Finance Minister

- C) Project Director

- D) Internal Audit Officer

- **Answer:** A

19. Principal Accounting Officers are accountable for:

- A) All auditing activities within their department

- B) Record-keeping and compliance with financial policies

- C) Establishing government-wide financial regulations

- D) Preparing annual budget statements

- **Answer:** B

---

### Chapter 6: Schedule 1 - Self-Accounting Entities

20. Self-accounting entities must comply with MAP’s:

- A) Detailed policies and procedures for all activities

- B) Principles only, using their own policies and rules for procedures

- C) Federal government budgeting policies

- D) Provincial financial reporting standards exclusively

- **Answer:** B

21. Which document would a self-accounting entity refer to for specific accounting policies?

- A) Internal Audit Report

- B) Accounting Policies and Procedures Manual

- C) General Financial Rules

- D) Schedule of Authorized Expenditures

- **Answer:** B

---
### Chapter 7: Schedule 2 - Exempt Entities

22. Entities listed in Schedule 2 are exempt from:

- A) Preparing financial reports

- B) Following any MAP regulations

- C) MAP compliance requirements, following separate accounting principles

- D) Tax payments

- **Answer:** C

23. Which of the following statements is true about exempt entities in Schedule 2?

- A) They are not required to maintain records of transactions.

- B) They operate with distinct accounting rules not covered by MAP.

- C) They must follow MAP accounting standards exclusively.

- D) They are under the direct control of the Ministry of Finance.

- **Answer:** B

Here are additional MCQs covering deeper details from the "Manual of Accounting Principles"
(MAP):

---

### Chapter 1: Overview - Purpose and Scope

1. Under MAP, which of the following is responsible for the initial distribution and update of the
manual?

- A) State Bank of Pakistan

- B) Ministry of Finance

- C) Auditor-General of Pakistan

- D) Central Board of Revenue

- **Answer:** C
2. The MAP manual's structure is divided into which of the following parts?

- A) General Principles, Accounting Standards, and Reporting Requirements

- B) Overview, Concepts, Policies, Responsibilities, and Schedules

- C) Policies, Procedures, and Compliance

- D) Standards, Compliance, and Exemptions

- **Answer:** B

3. The effective date of MAP’s implementation for full compliance is:

- A) Date of issue by the Auditor-General with a two-year compliance period

- B) Date Parliament approves it

- C) The beginning of the following fiscal year

- D) As soon as published on the Ministry of Finance website

- **Answer:** A

---

### Chapter 2: Accounting Concepts

4. Which of the following best describes "Public Account" funds in MAP?

- A) Funds received from international sources

- B) Money collected by courts and other government bodies but not part of the Consolidated Fund

- C) Revenue from private sector partnerships

- D) Government’s main operating fund

- **Answer:** B

5. Double-entry bookkeeping in MAP ensures:

- A) All transactions are verified by the Public Accounts Committee

- B) Every financial entry has an equal and opposite entry

- C) Only revenues are recorded accurately

- D) Expenditures are minimized in the public sector

- **Answer:** B
6. Which of the following accounting elements are specifically adapted to a modified cash basis in
MAP?

- A) Liabilities only

- B) Equity and assets only

- C) Revenues, expenses, assets, liabilities, and equity

- D) Revenues and expenditures only

- **Answer:** C

7. The principle that expenditures must be aligned with the Schedule of Authorized Expenditures in
MAP is based on:

- A) Appropriations management

- B) Budget flexibility

- C) Independent accounting standards

- D) Standard taxation policies

- **Answer:** A

8. Under MAP, when should commitments be recognized in accounts?

- A) Upon payment of cash only

- B) When a legal obligation to pay has been approved, amount is known, and supplier is identified

- C) When funds are deposited into the account

- D) Upon conclusion of each financial year

- **Answer:** B

---

### Chapter 3: Accounting Policies

9. According to MAP, accounting records must be retained for at least:

- A) Five years after the financial year ends

- B) Ten years from the latest audit or PAC review

- C) Three years from the date of entry

 - D) Indefinitely for future reference

- **Answer:** B

10. Under MAP, which of the following is considered an “asset”?

- A) A future service provided by the government

- B) Government-owned equipment with a future economic benefit

- C) Public loans collected as revenue

- D) Donations received by a government office

- **Answer:** B

11. When should expenses be recognized under MAP's modified cash basis?

- A) As soon as an expense is committed

- B) When cash payment is made or committed under an approved budget

- C) After approval from the Auditor-General’s Office

- D) Only when revenue is available to match the expense

- **Answer:** B

12. Equity under MAP is defined as:

- A) Assets minus liabilities

- B) Total revenue earned by an entity

- C) Authorized government expenses

- D) Accumulated capital investment

- **Answer:** A

13. Bank reconciliations under MAP must be performed:

- A) Quarterly

- B) Annually

- C) Monthly

- D) At the entity's discretion

- **Answer:** C
14. Internal control as per MAP requires that:

- A) The Finance Ministry regularly audits each entity’s transactions

- B) The Principal Accounting Officer ensures internal control exists with the help of the Internal
Audit Officer

- C) Only expenditures are regulated for accuracy

- D) Self-accounting entities establish their own controls independently

- **Answer:** B

15. In MAP, financial reporting is intended to:

- A) Satisfy internal requirements only

- B) Aid external parties in making budget allocation decisions

- C) Provide relevant, reliable, and comparable information to stakeholders

- D) Be used exclusively by the Auditor-General

- **Answer:** C

---

### Chapter 4: Financial and Accounting Responsibilities

16. The Auditor-General’s report on government accounts is submitted to:

- A) The President or Governor

- B) The Minister of Finance

- C) Provincial Treasury

- D) Central Board of Revenue

- **Answer:** A

17. Who is responsible for examining consolidated financial statements?

- A) Ministry of Finance

- B) State Bank of Pakistan

- C) Public Accounts Committee

- D) Auditor-General’s Office
 - **Answer:** C

18. According to MAP, the Accountants-General’s Offices assist the Federal Government by:

- A) Determining government fiscal policies

- B) Keeping records, validating payments, and submitting consolidated reports

- C) Maintaining tax records and ensuring revenue collection

- D) Establishing internal control mechanisms for all entities

- **Answer:** B

19. The Central Board of Revenue (CBR) is primarily tasked with:

- A) Collecting and recording Federal Government tax revenue

- B) Issuing financial guidelines for all entities

- C) Authorizing bank transactions

- D) Monitoring government fund allocations

- **Answer:** A

---

### Chapter 5: Administrative Financial Responsibilities

20. Internal Audit Officers are responsible for:

- A) Issuing financial policies

- B) Preventing and detecting errors and fraud within entities

- C) Authorizing public fund withdrawals

- D) Reviewing tax collection activities

- **Answer:** B

21. Which officer in MAP is responsible for establishing financial accountability within each
government entity?

- A) Financial Adviser

- B) Auditor-General
 - C) Principal Accounting Officer

- D) Project Director

- **Answer:** C

22. Under MAP, a Finance and Accounts Officer’s key duty includes:

- A) Overseeing financial transactions and ensuring compliance with record-keeping requirements

- B) Approving the national budget

- C) Managing inter-entity transactions independently

- D) Developing new taxation policies

- **Answer:** A

---

### Chapter 6: Schedule 1 - Self-Accounting Entities

23. Self-accounting entities differ from centralized accounting entities in that they:

- A) Follow identical policies and procedures as the central entities

- B) Manage their own accounting responsibilities independently

- C) Require separate annual reporting from other entities

- D) Are exempt from all government financial regulations

- **Answer:** B

24. Which document lists all self-accounting entities as per MAP?

- A) Schedule 1

- B) Schedule 2

- C) Appendix 1

- D) Ministry of Finance Directives

- **Answer:** A

---
### Chapter 7: Schedule 2 - Exempt Entities

25. Exempt entities under MAP are:

- A) Required to use the centralized government accounting system

- B) Listed in Schedule 1

- C) Not required to comply with MAP but follow their own regulatory requirements

- D) Directly accountable to the Ministry of Finance

- **Answer:** C

26. An example of an exempt entity under MAP could be:

- A) A local government unit operating under centralized policies

- B) A specialized government body with its own accounting rules

- C) The Ministry of Finance

- D) A public-private partnership with Federal Government funding

- **Answer:** B

Here is an expanded set of MCQs based on the "Manual of Accounting Principles" (MAP), covering a
broader range of topics in depth.

---

### Chapter 1: Overview - Purpose and Scope

1. Which schedule in MAP lists exempt entities?

- A) Schedule 1

- B) Schedule 2

- C) Appendix A

- D) Part 3

- **Answer:** B

2. Who ensures that copies of the MAP Manual are distributed to finance officers within each entity?
 - A) Public Accounts Committee

- B) Principal Accounting Officer

- C) Ministry of Finance

- D) Auditor-General

- **Answer:** B

3. In case of conflict, which manual takes precedence over other directives?

- A) Manual of Accounting Principles (MAP)

- B) Financial Reporting Manual

- C) Rules of Business

- D) Treasury Rules

- **Answer:** A

4. Which document in MAP includes detailed accounting policies and procedures?

- A) Financial Reporting Manual

- B) Accounting Policies and Procedures Manual

- C) Schedule of Authorised Expenditure

- D) Budgetary Control Manual

- **Answer:** B

5. What is the primary purpose of the MAP?

- A) To guide tax collection methods

- B) To set the principles for transaction accounting for central and self-accounting entities

- C) To define the roles of the Ministry of Finance

- D) To outline the budgeting process for provincial departments

- **Answer:** B

6. The MAP Manual is issued by which authority?

- A) Central Board of Revenue

- B) Public Accounts Committee

- C) Ministry of Finance
 - D) Auditor-General of Pakistan

- **Answer:** D

---

### Chapter 2: Accounting Concepts

7. What is included in the Consolidated Fund as per MAP?

- A) All government assets

- B) Taxes, loans, and loan repayments

- C) All government grants

- D) Surplus from self-accounting entities

- **Answer:** B

8. What is the purpose of the Public Account under MAP?

- A) To record only tax revenues

- B) To hold money collected on behalf of the government but not part of the Consolidated Fund

- C) To store foreign aid funds only

- D) To maintain all internal government borrowings

- **Answer:** B

9. Under MAP, which of the following statements about “Commitments” is correct?

- A) Commitments are recorded only when cash is paid

- B) Commitments are recognized when there is an authorized obligation to pay

- C) Commitments are recorded as liabilities

- D) Commitments include only foreign loans

- **Answer:** B

10. In MAP, which article specifies that the government must maintain a Consolidated Fund?

- A) Article 78

- B) Article 123
 - C) Article 83

- D) Article 82

- **Answer:** A

11. Which of the following best describes the role of “Revenues” in the accounting model of MAP?

- A) Receipts from fines and penalties

- B) Increases in economic benefits recognized on a cash basis

- C) Loans taken by the government

- D) Expenditures on services rendered

- **Answer:** B

12. Under MAP, how are government assets recorded?

- A) On a full accrual basis

- B) On a modified cash basis

- C) As expenses at the time of purchase only

- D) In a separate non-cash register

- **Answer:** B

13. The "modified cash basis" of accounting in MAP records transactions:

- A) Only when cash changes hands

- B) On a full accrual basis

- C) Including certain liabilities and commitments in addition to cash transactions

- D) Solely based on government revenue collection

- **Answer:** C

14. The constitutional articles mandating the separation of the Consolidated Fund and Public
Account are:

- A) Articles 79 and 119

- B) Articles 82 and 122

- C) Articles 78 and 118

- D) Articles 77 and 111

 - **Answer:** C

15. Under the modified cash basis, which assets are typically recorded as memorandum items?

- A) Financial assets only

- B) Fixed and physical assets

- C) Tax revenues

- D) Revenue surpluses

- **Answer:** B

16. Internal control systems in MAP are designed to ensure:

- A) Legal compliance with government finance laws

- B) Accuracy of transactions and fraud prevention

- C) Proper classification of government assets

- D) Fiscal policy alignment

- **Answer:** B

---

### Chapter 3: Accounting Policies

17. Under MAP, the "accounting period" is defined as:

- A) Calendar year

- B) Fiscal year from July 1 to June 30

- C) Government budget year from April 1 to March 31

- D) Rolling year starting from the date of issue

- **Answer:** B

18. Correcting an error in accounting entries under MAP should be done by:

- A) Using correction fluid

- B) Erasing and rewriting the entry

- C) Reversing the original entry and making a new one

 - D) Writing over the original entry

- **Answer:** C

19. How should revenue be recognized according to MAP?

- A) On an accrual basis

- B) When it is earned but not yet received

- C) On a cash basis when received

- D) Only when it exceeds the budget estimate

- **Answer:** C

20. Which financial record must be reconciled monthly as per MAP?

- A) Tax records

- B) Revenue logs

- C) Bank accounts

- D) Asset ledger

- **Answer:** C

21. Under MAP, liabilities are recorded based on:

- A) Probability of occurrence only

- B) Cash basis and committed basis, when there’s an obligation to pay

- C) When revenues are received

- D) Cash reserves available

- **Answer:** B

22. According to MAP, cash receipts should be deposited:

- A) Daily, unless otherwise authorized

- B) Only at month-end

- C) Bi-weekly

- D) Quarterly

- **Answer:** A
23. Financial reports under MAP are required to communicate information that is:

- A) Only understood by finance officials

- B) Relevant, reliable, understandable, and timely

- C) Brief and limited in scope

- D) Comparative only for internal audits

- **Answer:** B

24. MAP requires expenses to be recognized:

- A) Only when cash is available

- B) On a cash or committed basis with authorized payment

- C) As per the Auditor-General's discretion

- D) Only when approved by the Public Accounts Committee

- **Answer:** B

25. Which of the following is NOT a qualitative characteristic of financial reports as per MAP?

- A) Reliability

- B) Comparability

- C) Materiality

- D) Exclusivity

- **Answer:** D

26. The principal document in government budgeting as per MAP is:

- A) Annual Budget Statement

- B) Treasury Report

- C) Appropriations Report

- D) Financial Summary

- **Answer:** A

27. Which qualitative characteristic ensures users can evaluate information over time as per MAP?

- A) Relevance

- B) Reliability
 - C) Comparability

- D) Materiality

- **Answer:** C

28. MAP's definition of "Equity" is:

- A) The total revenues of an entity

- B) Government investments

- C) Residual interest in assets after deducting liabilities

- D) All liabilities plus assets

- **Answer:** C

---

### Chapter 4: Financial and Accounting Responsibilities

29. The Public Accounts Committee (PAC) is primarily responsible for:

- A) Auditing all government expenditures

- B) Examination and reporting on consolidated financial statements

- C) Creating financial policies

- D) Managing tax collection for the government

- **Answer:** B

30. Which office is responsible for pre-audit (validation) functions on government payments?

- A) Ministry of Finance

- B) Accountants-General’s Offices

- C) Auditor-General’s Office

- D) Public Accounts Committee

- **Answer:** B

31. The Auditor-General reports to:

- A) Ministry of Finance
 - B) Federal Parliament

- C) President of Pakistan

- D) Central Board of Revenue

- **Answer:** C

32. The Central Board of Revenue (CBR) under MAP has the authority to:

- A) Approve the federal budget

- B) Collect federal taxes and maintain revenue records

- C) Audit provincial expenditures

- D) Approve government expenditures

- **Answer:** B

33. Accountability for the Ministry of Finance in government accounting lies with:

- A) Public Accounts Committee

- B) Auditor-General

- C) Finance Minister

- D) Principal Accounting Officer

- **Answer:** C

34. Responsibilities of the Auditor-General’s Office include:

- A) Establishing provincial accounting standards

- B) Auditing, certifying, and reporting government accounts

- C) Managing public investments

- D) Directing tax policy implementation

- **Answer:** B

Here are more MCQs to enhance the coverage of each chapter based on the topics in the "Manual of
Accounting Principles" (MAP):
---

### Chapter 1: Overview - Purpose and Scope

1. According to MAP, who is responsible for ensuring that updates are distributed to all finance and
accounts officers?

- A) Ministry of Finance

- B) Auditor-General of Pakistan

- C) Principal Accounting Officer

- D) Public Accounts Committee

- **Answer:** C

2. What is the role of the Principal Accounting Officer regarding the MAP Manual?

- A) To create new accounting policies for government use

- B) To ensure the manual is distributed and followed within their accounting entity

- C) To oversee tax collections

- D) To perform internal audits on all self-accounting entities

- **Answer:** B

3. The MAP Manual includes guidelines for which type of accounting entities?

- A) Only self-accounting entities

- B) Only centralized accounting entities

- C) Both centralized and self-accounting entities

- D) Private accounting firms working with the government

- **Answer:** C

4. In MAP, which part of the manual deals with the assignment of accounting and financial
responsibilities?

- A) Part 1

- B) Part 2

- C) Part 3

- D) Schedule 1
 - **Answer:** C

5. The effective date for compliance with the MAP Manual for most entities is:

- A) The day of issuance

- B) The end of the fiscal year

- C) Within two financial years from the issuance date

- D) The beginning of the next calendar year

- **Answer:** C

---

### Chapter 2: Accounting Concepts

6. The Consolidated Fund in MAP is mainly used to:

- A) Hold funds for all tax-exempt organizations

- B) Manage general government operations and services

- C) Store excess funds from private contributions

- D) Collect funds for emergency relief only

- **Answer:** B

7. Under MAP, what role does the Schedule of Authorised Expenditure play in the Consolidated
Fund?

- A) It is required for any expenditure to be made from the Consolidated Fund

- B) It allows unrestricted access to public funds

- C) It only applies to the Public Account

- D) It is used exclusively by self-accounting entities

- **Answer:** A

8. In MAP, the Public Account is primarily used for:

- A) All cash and credit transactions

- B) Moneys that are not part of the Consolidated Fund, such as court deposits
 - C) Large, long-term investments

- D) Recording all liabilities and expenses

- **Answer:** B

9. What is the primary purpose of “Internal Control” as described in MAP?

- A) To review tax collection efficiency

- B) To prevent errors and fraud in financial management

- C) To calculate the budget for the next fiscal year

- D) To authorize expenditures in the government

- **Answer:** B

10. Which principle is essential for establishing internal control within an accounting entity according
to MAP?

- A) Timely submission of the annual budget

- B) Proper record-keeping and authorization of transactions

- C) Frequent external audits

- D) Collecting taxes efficiently

- **Answer:** B

11. When does MAP require budgeting information to be submitted?

- A) At the start of each fiscal year

- B) Midway through the fiscal year

- C) According to procedures in the Accounting Policies and Procedures Manual

- D) At the discretion of the Finance Minister

- **Answer:** C

12. Under MAP, which of the following are considered “expenses”?

- A) Increases in assets

- B) Reductions in assets or increases in liabilities

- C) Government grants to private organizations

- D) Budget surpluses
 - **Answer:** B

13. Which entity is responsible for controlling budget and appropriations according to MAP?

- A) The Auditor-General’s Office

- B) The Ministry of Finance

- C) The Principal Accounting Officer

- D) The Finance Division or Department

- **Answer:** D

14. According to MAP, what is the treatment of assets purchased by government entities?

- A) They are expensed at the time of purchase

- B) They are capitalized and depreciated

- C) They are recorded only when disposed of

- D) They are transferred to the Consolidated Fund automatically

- **Answer:** A

15. MAP’s concept of "economic benefits" refers to:

- A) Revenue generated by self-accounting entities

- B) The potential increase or decrease in cash flow

- C) Government funding allocations

- D) Net tax collections

- **Answer:** B

---

### Chapter 3: Accounting Policies

16. Under MAP, all entries in accounting records must be made:

- A) In pencil for easy correction

- B) Using correction fluid when errors occur

- C) In ink and corrections made by reversing incorrect entries

 - D) Electronically with no physical record

- **Answer:** C

17. When may a government entity use non-official cheques for payments according to MAP?

- A) Only when authorized by the Ministry of Finance

- B) Under no circumstances

- C) For small payments under a specified limit

- D) For inter-entity transfers only

- **Answer:** A

18. As per MAP, how should the reporting of financial information be prioritized?

- A) By its length and detail

- B) By timeliness, reliability, and relevance

- C) By relevance to the private sector

- D) By meeting only internal reporting needs

- **Answer:** B

19. MAP requires that any liabilities recognized must:

- A) Be probable and measurable reliably

- B) Include assets of future value

- C) Only include actual cash payments

- D) Be reported directly to the Auditor-General

- **Answer:** A

20. Which of the following describes how MAP treats “Prior Year Adjustments”?

- A) They are recorded as revenue in the current year

- B) They require permission from the Auditor-General to be recorded in the current Schedule of
Authorized Expenditure

- C) They are transferred to the Public Account automatically

- D) They are written off against future revenue

- **Answer:** B
21. How should financial reports be structured to meet MAP’s guidelines?

- A) As brief summaries for quick reference

- B) Comprehensive and understandable for users with reasonable knowledge

- C) Based on future projections only

- D) Only in a standard format provided by the Finance Division

- **Answer:** B

22. What is the objective of financial reports under MAP?

- A) To attract external investment

- B) To provide information about the financial position, performance, and changes in financial
position

- C) To minimize government spending

- D) To calculate government tax collections

- **Answer:** B

23. MAP guidelines on materiality ensure that:

- A) Only major transactions are included

- B) All information that could influence decisions is included

- C) Only internal financial data is reported

- D) Reports are short and concise

- **Answer:** B

24. Under MAP, expenses are recognized:

- A) When cash is available in the budget

- B) On a cash or commitment basis

- C) Only when approved by the Auditor-General

- D) By deducting from the Public Account

- **Answer:** B

25. MAP specifies that inter-entity transactions:

 - A) Should not be recorded in either entity’s financial records

- B) Are recognized only in the accounts of the receiving entity

- C) Are recorded as expenses for both entities

- D) Must be kept confidential and not recorded

- **Answer:** B

---

### Chapter 4: Financial and Accounting Responsibilities

26. The Public Accounts Committee (PAC) is required to submit its findings to:

- A) Provincial Assemblies

- B) Parliament and the concerned Principal Accounting Officer

- C) Auditor-General of Pakistan

- D) Ministry of Finance

- **Answer:** B

27. Which entity monitors the Accountants-General’s Offices under MAP?

- A) Public Accounts Committee

- B) Ministry of Finance

- C) Auditor-General’s Office

- D) Provincial Governments

- **Answer:** C

28. The primary responsibility of the Finance Division under MAP is:

- A) Reporting directly to the Public Accounts Committee

- B) Managing government loans and borrowing

- C) Direct oversight of the Auditor-General

- D) Keeping tax collection records

- **Answer:** B
29. Responsibilities of the Central Board of Revenue (CBR) include:

- A) Recording and assessing Federal Government taxes

- B) Conducting internal audits on Provincial funds

- C) Authorizing inter-entity transactions

- D) Approving budgets for self-accounting entities

- **Answer:** A

30. The Accountants-General’s Offices submit which type of reports?

- A) Only annual budget reports

- B) Monthly,

quarterly, and annual accounts for Federal and Provincial governments

- C) Only Provincial tax reports

- D) Consolidated financial statements for self-accounting entities

- **Answer:** B