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PPSC Lecturer Commerce Test 2 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.
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 2
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 2

1 / 25

Internal Control is totally synonymous with:

Internal audit

None of above

Internal check

2 / 25

Unpaid and unrecorded expenses are called:

None of these

Prepaid expenses

Accrued expenses

Additional expenses

3 / 25

All of the following are forms of organizations except:

None of these

Corporation

Partnership

Proprietorship

Retailer

4 / 25

The business form(s) in which the owner(s) is (are) personally liable is (are) the:

None of these

Corporation only

Partnership only

Proprietorship

Partnership and proprietorship

5 / 25

Audit of a bank is generally conducted through:

Routine checking

Couching

Balance sheet audit

6 / 25

An owner investment of land into the business would:

Decrease assets

Decrease withdrawals

Increase owner’s equity

None of these

Increase liabilities

7 / 25

Amount, cash, or other assets removed from business by owner is:

Assets

Capital

None of these

Drawings

8 / 25

A resident multinational company need not:

If it is not enjoying tax exemption under the Income Tax Ordinance, 1979 (Second Schedule).

None of above

Pay income tax, if it s caused under Double Taxation agreement.

9 / 25

For preparing balance sheets prepaid expenses are shown as part of:

Equities

Assets

Liability

None of these

10 / 25

Short-term loan can be described as:

If the period is three years

If the period is over one year

If the period is less than one year

11 / 25

Books of original entry are called:

None of these

Journal

Ledger

Work sheets

12 / 25

Stratified audit sample means:

Items carefully selected from each group

Randomly selected items for audit

Purposively selected items for audit

13 / 25

Current Ratio is calculated as:

Current Liabilities/Current Assets

Current Assets/Current Liabilities

Fixed Assets/Current Liabilities

14 / 25

Super Tax on companies is:

In vogue in Pakistan

None of above

Not in vogue in Pakistan

15 / 25

A partnership, in today‟s Pakistan, under the current law can have the following number of partners:

100

16 / 25

If a firm has paid super-tax, its partners may follow any one of the following behaviors:

Pay income tax as required under the law

Pay income tax, even if the income does not exceed the taxable income

No need to pay income tax, even if the income exceeds the taxable limit

17 / 25

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

Bankers

Owners

Creditors

18 / 25

Sources of funds can be increased by:

Describing selling prices

None of above

Increasing expenditure

19 / 25

Income Tax rates are the same for:

None of above

Banking Companies

Limited Companies

20 / 25

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

Withdrawals

Liabilities

Assets

None of these

Owner‟s equity

21 / 25

Users of accounting information include:

The tax authorities

Creditors

Investors

All of these

22 / 25

Income Tax is levied on:

Presumptive Income

None of above

Agricultural Income

23 / 25

Under the diminishing balance method, depreciation amount is:

Receipt

Payment

None of these

Expenditure

24 / 25

Combination can be best described as:

Reduction of Capital of a Company

Restructuring of Capital of a Company

Amalgamation of two different types of businesses

25 / 25

The investment of personal assets by the owner:

Increases total assets and increases owner’s equity

Has no effect on assets but increases owner‟s equity

Increase assets and liabilities

Increases total assets only

None of these

Your score is

The average score is 70%