FPSC Lecturer Commerce mcqs

PPSC Lecturer Commerce Test 4 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.
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Test Instructions:-
Test Name	Lecturer Commerce
Subject	Commerce Test 4
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 4

1 / 25

Fixed Cost:

Changes with production

Never changes even if production capacity is doubled

None of the above

2 / 25

Process Costing is relevant to:

None of the above

Cement industry

Job Order cost oriented Projects

3 / 25

Internal Control is totally synonymous with:

Internal check

internal audit

None of above

4 / 25

Conversion cost is:

Labour Cost + Overhead Cost

Direct Labour + Material Cost

Material Cost + Overhead Cost

5 / 25

Operating Profit is:

Profit after deducting normal operating expenses including depreciation

Profit after deducting financial costs

Profit after deducting taxes

6 / 25

Investment Corporation of Pakistan follows:

None of these

Open-end mutual funds

Closed-end mutual funds

7 / 25

In preparing a work sheet, a net loss would be computed and entered in the:

Credit column of the income statement in worksheet

In the credit column of the balance sheet columns of the worksheet

Debit column of the income statement columns of the worksheet

In the debit column of the adjusted trial balance

8 / 25

Consolidation of subsidiary accounts in the balance sheet of a unlisted Holding company is at present in Pakistan:

Voluntary

Compulsory

Required

9 / 25

How many approaches accounting has:

Three

Two

None

One

10 / 25

Cash budget excludes the following:

Cash items

Non-Cash items

Purchase on Credit items

11 / 25

A good Cost Accounting System is:

If it cannot be reconciled with financial accounts

If it enables management to increase productivity and rationalize cost structure

If it computes estimated cost only

12 / 25

Purpose of an accounting system include all of the following except:

Interpret and record the effects of business transaction

Summarize and communicate information to decision makers

Classify the effects of transactions to facilitate the preparation of reports

Dictate the specific type of business transaction that the enterprise may engage in

13 / 25

NGOs are legally required to:

Prepare accounts in a prescribed manner under the law

None of these

Prepare accounts as desired by donors

14 / 25

Deferred Taxation is:

Fixed liabilities

Part of Owners Equity

Fixed asset

15 / 25

Every limited Company in Pakistan is required by law to include the following along with financial reports:

Chairman’s Review

None of these

Ratio Analysis

16 / 25

Retained earnings is synonymous to:

Accumulated profit and loss account

None of these

Profit for the year

17 / 25

Audit of a bank is generally conducted through:

Routine checking

couching

Balance sheet audit

18 / 25

Verification includes:

None of the above

Checking Vouchers

Examining audit report

19 / 25

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

Bankers

Creditors

Owners

20 / 25

Stratified audit sample means:

Purposively selected items for audit

Items carefully selected from each group

Randomly selected items for audit

21 / 25

The requirements of an audit report for a Banking Company in Pakistan is under:

Under the Banking Companies Ordinance, 1962.

Under the Companies Ordinance, 1984.

Under (a) and (b) above

22 / 25

To understand and use accounting information in making economic decisions, you must understand:

The nature of economic activities that accounting information describes

The assumptions and measurement techniques involved in developing accounting information

All of Above

Which information is relevant for a particular type of decision that is being made?

23 / 25

An accrued revenue would be shown on the balance sheet as:

A receivable

Prepaid revenue

Unearned revenue

A payable

24 / 25

Directors Report is ................... in respect of financial report constituent:

None of these

Mandatory for a limited Company

Voluntary for a limited Company

25 / 25

The long-run objective of financial management is to:

Maximize earnings per share

Maximize the value of the firm's common stock

Maximize return on investment

Maximize market share

Your score is

The average score is 63%

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