Lecturer Commerce |

PPSC Lecturer Commerce Test 3 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.
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Test Instructions:-
Test Name	Lecturer Commerce
Subject	Commerce Test 3
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 3

1 / 25

In straight line method of depreciation, the written down value of a fixed asset will be at the end of the life of the asset as under:

Rupee one

None of these

Rupee zero

2 / 25

Depreciation in spirit is similar to:

Amortization

None of these

Depression

Depletion

3 / 25

The output of financial accounting is:

The preparation of financial reports

The measurement of accounting income

The preparation of financial position

The measurement of taxable income

4 / 25

Funds Flow Statement and sources and application statement are:

Synonymous

Antagonistic

None of these

a & b

5 / 25

In Insurance, the following Profit and Loss Accounts are prepared:

None of these.

Separate for Fire, Marine, and Accidents etc

Consolidated for (a) above

6 / 25

Double entry book-keeping was fathered by:

Lucas Pacioli

F.W.Taylor

None of these

Henry Fayol

7 / 25

Quick Ratio can be computed as under:

Quick . Assets/Quick Liabilities

Current Assets/ Current Liabilities

Quick. Liabilities Current Assets

8 / 25

Which of these characteristics does not apply to partnership?

Income tax

Mutual agency

Unlimited life

Unlimited liabilities

9 / 25

All economics costs that a business incur through its operation to earn revenues?

Assets

Expense

Drawing

Revenue

10 / 25

Which of the following statements is false?

If you decrease an asset account, you could decrease a shareholders’ equity account

If you decrease an asset account, you could increase a shareholders’ equity account

f you increase an asset account, you could increase a liability account.

f you increase an asset account, you could decrease an asset account

11 / 25

A large organization with separate legal status is known as:

Sole proprietorship

Joint stock company

None

Partnership

12 / 25

Flexible budget is a budget with the following features:

Changes in Direct material

Changes with variable expenses

Changes with volume of production

13 / 25

Preparation of companies’ financial reports is governed in Pakistan under:

Banking Companies Ordinance 1962

Companies Ordinance 1984

Partnership Act

State Bank of Pakistan Act

14 / 25

Prospectus for shares can be issued by:

Both a and b

Non of Above

Private limited companies

Public limited companies

15 / 25

The personnel, procedure, devices and records used by an organization to develop accounting information and communicate that information to decision maker are called which of the following?

Internal control structures

Personnel systems

Accounting information systems (AIS)

Audits

16 / 25

Which One of the following is an example of Intangible asset?

Preliminary expenses

Investments

Discount on issue of debentures

Copy rights

17 / 25

Partners in Pakistan can today be fixed at the following numbers:

18 / 25

Special purpose financial statements are prepared by:

Both a and c

Financial Accountants

Management Accountants

Cost Accountants

19 / 25

Which of the following business entity is known as firm?

Sole trader-ship

Partnership

Company

Co-operative society

20 / 25

All of following are Assets except:

Goods

Unearned Income

b and c

Prepaid Rent

21 / 25

Which of the following groups use financial accounting?

All of the above

Suppliers, customers and competitors

Management, employees, shareholders and lenders

Tax authorities, government and general public

22 / 25

Balance Sheet is always prepared:

None of these

For the year ended.

As on a specified date.

23 / 25

Sales budget must be prepared:

Based on Sales forecasts of market

Depending on production capacity

Independently

24 / 25

External Reporting is the Result of:

Financial Accounting

Social Accounting

Management Accounting

Cost Accounting

25 / 25

Break even can be calculated as under:

None of these

.....................VC............FC- TR TC

FC I- VC TR

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