PPSC Lecturer Commerce Test 7 Online Preparation MCQs

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.


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.

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Test Instructions:-
Test NameLecturer Commerce 
SubjectCommerce Test 7
Test TypeMCQs
Total Questions25
Total Time20 Minutes
Total Marks100

You have 20 minutes to pass to the quiz.

You have 20 minutes to pass to the quiz.

PPSC Lecturer Commerce Test 7

1 / 25

Which of the following is not an asset?

2 / 25

Find out the value of liabilities from the following of cash Rs. 50,600; account receivable Rs. 12,400; office supplies Rs. 1,350 and capital Rs. 50,000:

3 / 25

Which of the following is correct?

4 / 25

Finance has been described as:

5 / 25

Which of the following item of revenue nature?

6 / 25

An examination of records of financial accounts to verify their accuracy is called:

7 / 25

A balance sheet is designed to show:

8 / 25

The largest expense of most manufacturing firms is?

9 / 25

Calculate the gross profit if; Sales Rs. 6,000; cost of sales Rs. 5,000; opening stock Rs. 1,000; purchases Rs. 4,000; wages Rs. 2,000 and office rent Rs. 1,000:

10 / 25

The accounts which have their existence after the close of accounting year is called:

11 / 25

A business pays weekly salaries of $15,000 on Friday for a five-day week ending on that day. The adjusting entry necessary at the end of the fiscal period ending on Thursday is:

12 / 25

All of following are Expenses except:

13 / 25

Residual interest in the net asset of an entity that remain after deducting its liabilities is:

14 / 25

Marketable securities are primarily:

15 / 25

Which of the following is an expense:

16 / 25

Which of the following would be included in a cash budget?

17 / 25

In 2005 work in process inventories of Park Inc., totaled $20,000 on January 1 and $15,000 on December 31. If total manufacturing cost was 90% of cost of goods sold, how much was cost of goods sold?

18 / 25

Which of the following is true for every adjusting entry:

19 / 25

Goodwill is an example of:

20 / 25

Dealing between two persons including money or a valuable thing is called:

21 / 25

The extended balance sheet equation, which is the basis of double-entry bookkeeping is:

22 / 25

Gross profit is the difference between:

23 / 25

If the accountant forgets to adjust the prepaid expense account, there will be:

24 / 25

Earnings are the result of the difference between:

25 / 25

The balance in the office supplies account on July 1 was $3,200, supplies purchased during July were $2,500, and the supplies on hand at July 31 were $2,800. The amount to be used for the appropriate adjusting entry is:

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2 thoughts on “PPSC Lecturer Commerce Test 7 Online Preparation MCQs

  1. For question 25
    If accountant fails to record any prepaid …
    It affects both
    Income statement and,
    Balance sheet
    Both are showing overstated balance
    Because adjusting entry for prepaid is
    Expenses Dr
    To prepaid
    If u overlooked to record just see it will understate expense result in over profit than actual
    Second, prepaid doesn’t reduce in BS result in overstatement of Assets

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