Most Important Lecturer Commerce MCQs Online Test No. 58

Leave a Comment / By Hassan / April 20, 2022

Online Free Taleem is free online MCQ’s test related to Lecturer Commerce. All the individuals who are going to appear in PPSC, FPSC, KKPSC, SPSC, BPSC, AJ&KPSC, NTS, Lecturer Commerce written test can attempt these tests in order to prepare for it in best possible way. Our tests of Lecturer of Commerce include all the important questions and Past Paper of Lecturer Commerce, 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 Commerce Test Online.

Test Instructions:-
Test Name	Lecturer Commerce
Subject	Commerce Test 58
Test Type	MCQs
Total Questions	25
Total Time	20 Minutes
Total Marks	100

You have 20 minutes to pass to the quiz.

Lecturer Commerce Online Test No. 58

1 / 25

Share Premium Account should be shown in the Balance Sheet under:

Paid up Capital.

Subscribed Capital.

Reserves and Surplus

Reserved Capital.

2 / 25

With regard to issue of shares certificates, the auditor should refer to section.

110

113

114

3 / 25

During the course of an audit, an auditor finds that no vouchers are available for certain payments. Whether he should:

Seek proper explanation for it.

Demand vauchers for it.

Ignore it.

None of the above

4 / 25

Shares issued for consideration other cash should be vouched with the help of:

Director's Minute Book.

Shareholder's Minute Book.

Contract with the Party concerned.

Cash Book.

5 / 25

The contents of statutory report are governed by:

Sec.157

Sec. 160

Sec. 165

None of the above

6 / 25

The auditor resorted to test checking and with the result, he could not disclose certain frauds. Whether he can be held.

Liable for it.

Not liable for it.

Liable criminally for it.

None of the above.

7 / 25

Application money should not be withdrawn unless.

Allotment is made.

Cash Book has been prepared.

Certificate to commence business obtained.

None of the above.

8 / 25

For sub-division of shares in smaller amount, the auditor should refer to:

Court's sanction

Director's Minute Book

Shareholders Minute Book

None of the above

9 / 25

The auditor of private company will be:

Chartered Accountant.

Cost & Management Accountant.

Master of Commerce.

No qualification is mentioned.

10 / 25

Divisible profits should not include:

Interest on capital.

Capital.

Depreciation.

None of the above

11 / 25

Shares can be issued at discount under section.

76.

75.

79.

84.

12 / 25

Company can issue shares at discount if it is permitted by.

Memorandum of Association.

Articles of Association.

Prospectus

Statement in liew of prospectus.

13 / 25

Increase in share capital is permitted by.

Memorandum of Association

Articles of Association

Court.

None of the above

14 / 25

Auditor should see that the return of allotment has been sent to Registrar within.

1 month

2 months

3 months

4 months

15 / 25

Auditor should see that amount received for premium on Issue of Shares should be shown in:

Subscribed Capital.

Capital Reserve Fund.

Share Premium Account.

Paid up Capital Account.

16 / 25

Profits on reissue of forfeited shares should be transferred to:

Shares Forfeited Account

Capital Reserve Account.

Profit and loss Account

None of the above

17 / 25

The auditor did not care to check adequacy of Provision for bad and Doubtful Debts. Whether he can be held.

Liable for it.

Not liable for it.

Liable criminally for it.

None of the above

18 / 25

A company can issue Redeemable Preference Shares, if authorized by:

Memorandum of Association.

Articles of Association.

Companies Ordinance 1984.

None of the above.

19 / 25

Share capital can be increased by.

Increasing face value of shares.

Issuing shares at premium.

Issue of fresh shares.

None of the above.

20 / 25

Premium received on issue of shares, later forfeited, should be transferred to:

Capital Reserve.

Shares Forfeited Account.

Capital Account.

None of the above

21 / 25

Payments of dividend out of capital profit does not amount to:

Payment of dividend out of capital.

Payment of dividend out of profits.

Payment of dividend out of capital receipts.

None of the above.

22 / 25

Dividends cannot be paid out of:

Capital profits

Capital receipts

Revenue Receipts

None of the above

23 / 25

Capital profits imply profits earned:

Through business transactions.

From capital.

From sale of fixed assets.

From sale of current assets.

24 / 25

The auditor finds that a company has paid interest out of capital. Whether he should.

Allow it.

Not allow it.

Ignore it.

25 / 25

Amount of shares premium may be utilized for:

Payment of dividend.

Writing off of preliminary expenses.

Routine expenses.

Purchase of fixed assets.

Your score is

The average score is 0%

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