2024 | - Part 71

PPSC Lecturer Commerce Test 5 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 5
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 5

1 / 25

Combination can be best described as:

Reduction of Capital of a Company

Restructuring of Capital of a Company

Amalgamation of two different types of businesses

2 / 25

For preparing balance sheets prepaid expenses are shown as part of:

Assets

Liability

None of these

Equities

3 / 25

An owner investment of land into the business would:

Decrease assets

Increase liabilities

Increase owner’s equity

Decrease withdrawals

None of these

4 / 25

Super Tax on companies is:

None of above

In vogue in Pakistan

Not in vogue in Pakistan

5 / 25

Under the diminishing balance method, depreciation amount is:

None of these

Receipt

Expenditure

Payment

6 / 25

A partnership, in today’s Pakistan, under the current law can have the following number of partners:

100

7 / 25

An owner investment of each into the business would:

None of these

Increase assets

Increase withdrawals

Decrease liabilities

Decrease owner’s equity

8 / 25

Current Ratio is calculated as:

Fixed Assets/Current Liabilities

Current Liabilities/Current Assets

Current Assets/Current Liabilities

9 / 25

Real accounts are related to:

Customers and Creditors etc.

None of these

Assets

Expenses and incomes

10 / 25

The investment of personal assets by the owner:

Increase assets and liabilities

Increases total assets and increases owner’s equity

Has no effect on assets but increases owner’s equity

Increases total assets only

11 / 25

Unpaid and unrecorded expenses are called:

Additional expenses

Prepaid expenses

Accrued expenses

None of these

12 / 25

A resident multinational company need not:

None of above

If it is not enjoying tax exemption under the Income Tax Ordinance, 1979 (Second Schedule).

Pay income tax, if it’s caused under Double Taxation agreement.

13 / 25

Books of original entry are called:

Work sheets

None of these

Ledger

Journal

14 / 25

Income Tax is levied on:

None of above

Presumptive Income

Agricultural Income

15 / 25

Economic resources of a business that are expected to be of benefit in the future are referred to as:

Owner’s equity

Withdrawals

Assets

Liabilities

16 / 25

If a firm has paid super-tax, its partners may follow any one of the following behaviors:

Pay income tax, even if the income does not exceed the taxable income.

No need to pay income tax, even if the income exceeds the taxable limit.

Pay income tax as required under the law.

17 / 25

Income Tax rates are the same for:

Limited Companies

None of above

Banking Companies

18 / 25

All of the following are forms of organizations except:

Retailer

Corporation

None of these

Proprietorship

Partnership

19 / 25

Users of accounting information include:

Creditors

All of these

The tax authorities

Investors

20 / 25

Sources of funds can be increased by:

Describing selling prices

Increasing expenditure

None of above

21 / 25

Short-term loan can be described as:

If the period is three years

If the period is over one year

If the period is less than one year

22 / 25

Amount, cash, or other assets removed from business by owner is:

Assets

Capital

None of these

Drawings

23 / 25

The payment of rent each month for office space would:

Decrease total assets

Increase owner’s equity

None of these

Increase liabilities

24 / 25

A cash purchase of supplies would:

Have no effect on total assets

Increase liabilities

Decrease owner’s equity

25 / 25

The business form(s) in which the owner(s) is (are) personally liable is (are) the:

Partnership only

Proprietorship

Partnership and proprietorship

Corporation only

Your score is

The average score is 81%

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