1- One of the following is not an officer of a company:
A). Share registrar✔️
B). Controller
C). Secretary
D). Treasurer
2-A deficit appears on the balance sheet:
A). Among the assets
B). As a deduction total paid up capital✔️
C). Among the Liabilities
D). None of these
3- Audit programme is prepared by:
A). Audit staff
B). Chief Accountant
C). Directors
D). Audit Management✔️
E). None of these
4- Verification is carried out for:
A). Closing stock✔️
B). Rent income
C). Dividend Received
D). Wages and salaries
5-Retiring auditor can be appointed at:
A). Statutory Meeting
B). AGM✔️
C). Directors Meeting
D). None of these
6- Unqualified report is favorable for:
A). Management✔️
B). Creditors
C). Debtors
D). Employees
7- Normally test Checking is adopted in case of:
A). Continuous Audit✔️
B). Final Audit
C). Interim Audit
D). None of these
8- In partnership minimum number of members is:
A).2✔️
B).3
C).4
D).5
9- In public Ltd. Company, minimum number of members is:
A).2
B).3
C).5
D).7✔️
10- Short term finance can be arranged through:
A) Sales of Debentures
B). Sales of shares
C). Bank loan✔️
D). None of these
11- Statutory meeting is necessary in case of:
A). Private Ltd.Co.
B). Public Ltd.Co.✔️
C). Partnership
D). None of these
12- Current companies Ordinance is that of:
A).1932
B).2017✔️
C).2001
D).2002
13- The Addition of Material and Labour is called:
A). Conversion cost
B). Prime cost✔️
C). Financial cost
D). None of these
14- Expenses can be called as:
A). Expired cost✔️
B). Project cost
C). Prime cost
D). None of these
15- EOQ is adopted to have efficient:
A). Material Management✔️
B). Labour Management
C). FOH Management
D). None of these
16- Which of the following is Fixed cost?
A). Rent✔️
B). Income tax
C). Repair
D). Insurance
17- The statement prepared under process costing is called:
A). Cost of good sold statement
B). Income Statement
C). Cost of production Report✔️
D). None of these
18- Current Income Tax Ordinance is that of:
A).1990
B).2001✔️
C).2002
D).2003
19- Which of the following will be considered as capital expenditure?
A). Material Expenses
B). Machinery Purchased✔️
C). Labour paid
D). Income tax paid
20- Which of the following is exempted from tax at present?
A). Agricultural income✔️
B). Bank profit
C). Salary income
D). None of above
21- If income year of a salaried person ends on 30th June,2008, than tax year would be.
A).2007_08✔️
B).2008_09
C).2009_10
D). None of above
22- Which of the following can be adjusted against Income Tax Liability?
A). Withholding Tax on Telephone Bills✔️
B).Excise duty paid
C). Custom duty paid
D). Trade and paid
23- The process loss not allowed to affect the cost of goods units is:
A). Normal loss✔️
B). Standard loss
C). Abnormal loss
D). Material loss
24- Agriculture, forestry, hunting and fishing is included in:
A). Genetic industry✔️
B). Extractive industry
C). Manufacturing industry
D). None of these
25- The minimum number of directors in unlisted public limited company is:
A).5
B).10
C).3✔️
D).7
E). None of these
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