What is the time frame for preparing financial statements after the end of the financial year?

Quiz on Financial Reporting and Auditing

Quiz
•
Others
•
University
•
Hard
Athenkosi Magobiyane
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
4 months
3 months
2 months
1 month
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who must table the annual report of the municipality in council?
The accounting officer
The municipal manager
The chief financial officer
The mayor
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What must be included in the annual report?
Only performance audit report
Financial statements, audit report, and performance audit report
Financial statements and audit report
Only financial statements
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the maximum time allowed for the Auditor-General to complete the audit after receiving financial statements?
1 month
2 months
3 months
4 months
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What must the notes to the financial statements disclose regarding councillors?
Salaries, allowances, and benefits
Only their names
Only their benefits
Their voting records
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of the annual report?
To summarize only the financial statements
To hide financial discrepancies
To provide a record of activities and performance
To promote secrecy
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the role of the Auditor-General according to the Public Audit Act?
To manage municipal budgets
To perform audits and ensure compliance
To prepare financial statements
To approve municipal expenditures
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