Lecturer Commerce

PPSC Lecturer Commerce Test 2 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 2
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 2

1 / 25

Audit of a bank is generally conducted through:

Couching

Routine checking

Balance sheet audit

2 / 25

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

Bankers

Creditors

Owners

3 / 25

Income Tax rates are the same for:

Limited Companies

None of above

Banking Companies

4 / 25

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

Assets

Owner‟s equity

Withdrawals

Liabilities

None of these

5 / 25

An owner investment of land into the business would:

Increase owner’s equity

Decrease withdrawals

None of these

Decrease assets

Increase liabilities

6 / 25

Current Ratio is calculated as:

Fixed Assets/Current Liabilities

Current Liabilities/Current Assets

Current Assets/Current Liabilities

7 / 25

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

100

8 / 25

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

Capital

Assets

None of these

Drawings

9 / 25

Sources of funds can be increased by:

None of above

Increasing expenditure

Describing selling prices

10 / 25

The investment of personal assets by the owner:

Has no effect on assets but increases owner‟s equity

None of these

Increases total assets only

Increases total assets and increases owner’s equity

Increase assets and liabilities

11 / 25

Income Tax is levied on:

Agricultural Income

Presumptive Income

None of above

12 / 25

Stratified audit sample means:

Items carefully selected from each group

Purposively selected items for audit

Randomly selected items for audit

13 / 25

Combination can be best described as:

Restructuring of Capital of a Company

Reduction of Capital of a Company

Amalgamation of two different types of businesses

14 / 25

Users of accounting information include:

Creditors

All of these

The tax authorities

Investors

15 / 25

Short-term loan can be described as:

If the period is less than one year

If the period is three years

If the period is over one year

16 / 25

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

Proprietorship

None of these

Partnership and proprietorship

Corporation only

Partnership only

17 / 25

Internal Control is totally synonymous with:

Internal audit

None of above

Internal check

18 / 25

All of the following are forms of organizations except:

Corporation

Retailer

None of these

Partnership

Proprietorship

19 / 25

Under the diminishing balance method, depreciation amount is:

None of these

Receipt

Expenditure

Payment

20 / 25

Super Tax on companies is:

Not in vogue in Pakistan

None of above

In vogue in Pakistan

21 / 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.

22 / 25

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

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

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

Pay income tax as required under the law

23 / 25

Unpaid and unrecorded expenses are called:

None of these

Prepaid expenses

Additional expenses

Accrued expenses

24 / 25

Books of original entry are called:

Work sheets

Journal

None of these

Ledger

25 / 25

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

Equities

Liability

Assets

None of these

Your score is

The average score is 70%