2024 | - Part 73

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

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

In the debit column of the adjusted trial balance

Credit column of the income statement in worksheet

2 / 25

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

Creditors

Bankers

Owners

3 / 25

Stratified audit sample means:

Items carefully selected from each group

Purposively selected items for audit

Randomly selected items for audit

4 / 25

Operating Profit is:

Profit after deducting taxes

Profit after deducting financial costs

Profit after deducting normal operating expenses including depreciation

5 / 25

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

None of these

Ratio Analysis

Chairman’s Review

6 / 25

The long-run objective of financial management is to:

Maximize earnings per share

Maximize return on investment

Maximize the value of the firm's common stock

Maximize market share

7 / 25

Conversion cost is:

Direct Labour + Material Cost

Material Cost + Overhead Cost

Labour Cost + Overhead Cost

8 / 25

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

Required

Voluntary

Compulsory

9 / 25

Audit of a bank is generally conducted through:

couching

Balance sheet audit

Routine checking

10 / 25

NGOs are legally required to:

Prepare accounts in a prescribed manner under the law

None of these

Prepare accounts as desired by donors

11 / 25

Verification includes:

None of the above

Checking Vouchers

Examining audit report

12 / 25

Internal Control is totally synonymous with:

internal audit

None of above

Internal check

13 / 25

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

Under (a) and (b) above

Under the Companies Ordinance, 1984.

Under the Banking Companies Ordinance, 1962.

14 / 25

A good Cost Accounting System is:

If it cannot be reconciled with financial accounts

If it computes estimated cost only

If it enables management to increase productivity and rationalize cost structure

15 / 25

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

A payable

A receivable

Unearned revenue

Prepaid revenue

16 / 25

How many approaches accounting has:

One

None

Three

Two

17 / 25

Fixed Cost:

Changes with production

Never changes even if production capacity is doubled

None of the above

18 / 25

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

All of Above

The assumptions and measurement techniques involved in developing accounting information

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

The nature of economic activities that accounting information describes

19 / 25

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

Mandatory for a limited Company

Voluntary for a limited Company

None of these

20 / 25

Investment Corporation of Pakistan follows:

Closed-end mutual funds

None of these

Open-end mutual funds

21 / 25

Process Costing is relevant to:

Job Order cost oriented Projects

Cement industry

None of the above

22 / 25

Cash budget excludes the following:

Cash items

Purchase on Credit items

Non-Cash items

23 / 25

Deferred Taxation is:

Fixed asset

Part of Owners Equity

Fixed liabilities

24 / 25

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

Classify the effects of transactions to facilitate the preparation of reports

Summarize and communicate information to decision makers

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

Interpret and record the effects of business transaction

25 / 25

Retained earnings is synonymous to:

Profit for the year

Accumulated profit and loss account

None of these

Your score is

The average score is 66%

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