PPSC Lecturer Commerce Test 6 Online Preparation MCQs

Leave a Comment / By Hassan / September 22, 2020

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 6
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 6

1 / 25

Balance sheet is always prepared:

For the year ended

As on a specific date

None of these

2 / 25

Verification includes:

Checking vouchers

None of these

Examining audit report

3 / 25

Re-order quantity …… 3600 units

Maximum consumption ...… 900 units per week

Minimum comsumption …....300 units per week

Re-order period …………….….5 weeks

Based on this data Re-order level is:

1200 units

None of these

3900 units

400 units

4500 units

4 / 25

Audit of a bank is generally conducted through:

Vouching

Routine checking

None of these

Balance sheet audit

5 / 25

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

None of these

Owner’s equity

Assets

Liabilities

Withdrawals

6 / 25

Net income plus operating expenses is equal to:

Cost of goods sold

Net sales

None of these

Cost of goods available for sale

Gross profit

7 / 25

A cost center is:

None of these

A unit of production in relation to which costs are ascertained

Any location or department which incurs cost

A location which is responsible for controlling direct costs

Part of the factory overhead system by which costs are gathered

8 / 25

Short term Loan can be best described as:

If the period is over one year

None of these

If the period is three years

If the period is less than one year

9 / 25

A fixed cost:

Is constant per unit for each unit of change in production

None of these

May change in total, depending on production with the relevant range

May change in total when such change is not related to changes in production

Will not change in total because it is not related to changes in production

10 / 25

Operating cost in often named as:

None of these

Direct material plus direct labour

Prime cost plus factory overheads

Selling plus administrative expenses

Manufacturing cost plus commercial expenses

11 / 25

If under applied FOH is closed to cost of goods sold, the journal entry is:

None of these

DR Cost of goods sold …….. CR FOH control

DR FOH control ……..……….. CR Profit % loss account

DR FOH control ……..……….. CR Cost of goods sold

12 / 25

The maximum number of partners in Pakistan can be fixed at the following:

None of these

13 / 25

Which one of the following accounts would usually have a debit balance?

Salaries Expenses

None of these

Creditors

Cash

Accounts payable

14 / 25

The time lag between indenting and receiving material is called:

Stock out time

None of these

Idle time

Lead time

15 / 25

A segment of the business that generates both revenue and cost is called:

All of these

Cost Center

Cost driver

None of these

Profit Center

16 / 25

A quantitative expression of management objectives is an:

None of these

Procedural chart

Organizational chart

Management chart

Budget

17 / 25

The measureable value of an alternative use of resources is referred to as:

None of these

An imputed cost

A different cost

An opportunity cost

A sunk cost

18 / 25

Productivity means:

None of these

All units produced

Good units produced

The ability to produce

19 / 25

Completion of a job is result in:

DR Cost of goods ……... CR finished goods

DR finished goods …….. CR WIP

None of these

DR WIP ……………..….….. CR FOH control

DR FOH control …….….. CR FOH applied

20 / 25

Quick assets include which of the following?

Only (a) and (b)

Cash

Accounts Receivable

Inventories

21 / 25

Expenses such as rent and depreciation of a building are shared by several departments these are:

None of these

Joint expenses

Indirect expenses

All of the above

Direct expenses

22 / 25

At break-even point of 400 units sold the variable costs were Rs. 400 and the fixed costs were Rs.200. What will be the 401 units sold contributing to profit before income tax?

Rs. 0.50

Rs. 1.00

Rs. 0.00

Rs. 1.50

ne of these

23 / 25

A credit balance remaining in FOH Control account is called:

Over-applied overhead

Under-applied overhead

Actual overhead

None of these

24 / 25

Direct material cost plus direct labour cost is called:

Prime cost

None of these

Conversion cost

All of these

Product cost

25 / 25

In considering a special order situation that will enable a company to make use of currently idle capacity, which of the following cost will be irrelevant:

Materials

Direct labour

None of these

Depreciation

Variable factory overhead

Your score is

The average score is 23%

PPSC Lecturer Commerce Test 6 Online Preparation MCQs

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