January, 2024 |

PPSC Lecturer Commerce Test 4 Online Preparation MCQs

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Given below on this Website Online Free Taleem is free online MCQ’s test related to PPSC of Lecturer Commerce. All the individuals who are going to appear in PPSC Lecturer of Commerce written test can attempt these tests in order to prepare for it in best possible way. Our tests include all the important questions MCQs of Lecturer of PPSC Commerce, all Past Papers of Lecturer of Commerce PPSC that have extremely high amount of chances for been included in the actual exam which make our test undoubtedly the best source of preparation.

Note:-

There will be 25 multiple choice question in the test.
Answer of the questions will change randomly each time you start this test.
Practice this test at least 5 times if you want to secure High Marks.
At the End of the Test you can see your Test score and Rating.
If you found any incorrect answer in Quiz. Simply click on the quiz title and comment below on that MCQ. So that I can update the incorrect answer on time. Please Click Below START Button to Take this Lecturer Commerce Test Online.

Test Instructions:-
Test Name	Lecturer Commerce
Subject	Commerce Test 4
Test Type	MCQs
Total Questions	25
Total Time	20 Minutes
Total Marks	100

You have 20 minutes to pass to the quiz.

PPSC Lecturer of Commerce Practice Test 4

1 / 25

NGOs are legally required to:

None of these

Prepare accounts as desired by donors

Prepare accounts in a prescribed manner under the law

2 / 25

Process Costing is relevant to:

None of the above

Job Order cost oriented Projects

Cement industry

3 / 25

Investment Corporation of Pakistan follows:

Open-end mutual funds

Closed-end mutual funds

None of these

4 / 25

The requirements of an audit report for a Banking Company in Pakistan is under:

Under the Companies Ordinance, 1984.

Under (a) and (b) above

Under the Banking Companies Ordinance, 1962.

5 / 25

Stratified audit sample means:

Randomly selected items for audit

Items carefully selected from each group

Purposively selected items for audit

6 / 25

Retained earnings is synonymous to:

Profit for the year

Accumulated profit and loss account

None of these

7 / 25

In preparing a work sheet, a net loss would be computed and entered in the:

Debit column of the income statement columns of the worksheet

In the credit column of the balance sheet columns of the worksheet

Credit column of the income statement in worksheet

In the debit column of the adjusted trial balance

8 / 25

The long-run objective of financial management is to:

Maximize the value of the firm's common stock

Maximize market share

Maximize return on investment

Maximize earnings per share

9 / 25

Purpose of an accounting system include all of the following except:

Classify the effects of transactions to facilitate the preparation of reports

Dictate the specific type of business transaction that the enterprise may engage in

Interpret and record the effects of business transaction

Summarize and communicate information to decision makers

10 / 25

How many approaches accounting has:

Three

Two

None

One

11 / 25

To understand and use accounting information in making economic decisions, you must understand:

The assumptions and measurement techniques involved in developing accounting information

All of Above

The nature of economic activities that accounting information describes

Which information is relevant for a particular type of decision that is being made?

12 / 25

Every limited Company in Pakistan is required by law to include the following along with financial reports:

Chairman’s Review

Ratio Analysis

None of these

13 / 25

Deferred Taxation is:

Part of Owners Equity

Fixed asset

Fixed liabilities

14 / 25

Conversion cost is:

Material Cost + Overhead Cost

Labour Cost + Overhead Cost

Direct Labour + Material Cost

15 / 25

Fixed Cost:

None of the above

Changes with production

Never changes even if production capacity is doubled

16 / 25

Consolidation of subsidiary accounts in the balance sheet of a unlisted Holding company is at present in Pakistan:

Voluntary

Required

Compulsory

17 / 25

An auditor is liable for his annual audit of accounts o:

Creditors

Owners

Bankers

18 / 25

Cash budget excludes the following:

Purchase on Credit items

Non-Cash items

Cash items

19 / 25

Verification includes:

None of the above

Examining audit report

Checking Vouchers

20 / 25

Internal Control is totally synonymous with:

Internal check

None of above

internal audit

21 / 25

Audit of a bank is generally conducted through:

couching

Balance sheet audit

Routine checking

22 / 25

Operating Profit is:

Profit after deducting taxes

Profit after deducting normal operating expenses including depreciation

Profit after deducting financial costs

23 / 25

An accrued revenue would be shown on the balance sheet as:

A receivable

Unearned revenue

A payable

Prepaid revenue

24 / 25

A good Cost Accounting System is:

If it computes estimated cost only

If it enables management to increase productivity and rationalize cost structure

If it cannot be reconciled with financial accounts

25 / 25

Directors Report is ................... in respect of financial report constituent:

Mandatory for a limited Company

Voluntary for a limited Company

None of these

Your score is

The average score is 56%

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January 2024

PPSC Lecturer Commerce Test 4 Online Preparation MCQs