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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

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

Capital

None of these

Assets

Drawings

2 / 25

Books of original entry are called:

Journal

None of these

Ledger

Work sheets

3 / 25

Combination can be best described as:

Amalgamation of two different types of businesses

Reduction of Capital of a Company

Restructuring of Capital of a Company

4 / 25

An owner investment of land into the business would:

Decrease assets

None of these

Decrease withdrawals

Increase liabilities

Increase owner’s equity

5 / 25

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

100

6 / 25

Users of accounting information include:

The tax authorities

All of these

Investors

Creditors

7 / 25

Unpaid and unrecorded expenses are called:

Accrued expenses

None of these

Prepaid expenses

Additional expenses

8 / 25

Current Ratio is calculated as:

Current Assets/Current Liabilities

Fixed Assets/Current Liabilities

Current Liabilities/Current Assets

9 / 25

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

Partnership only

Partnership and proprietorship

None of these

Corporation only

Proprietorship

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

Income Tax is levied on:

Presumptive Income

Agricultural Income

None of above

12 / 25

Stratified audit sample means:

Purposively selected items for audit

Items carefully selected from each group

Randomly selected items for audit

13 / 25

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

None of these

Liabilities

Withdrawals

Assets

Owner‟s equity

14 / 25

Income Tax rates are the same for:

Banking Companies

None of above

Limited Companies

15 / 25

Internal Control is totally synonymous with:

None of above

Internal check

Internal audit

16 / 25

A resident multinational company need not:

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

None of above

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

17 / 25

All of the following are forms of organizations except:

Partnership

Corporation

None of these

Retailer

Proprietorship

18 / 25

Super Tax on companies is:

In vogue in Pakistan

Not in vogue in Pakistan

None of above

19 / 25

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

Equities

Assets

None of these

Liability

20 / 25

Sources of funds can be increased by:

None of above

Describing selling prices

Increasing expenditure

21 / 25

Audit of a bank is generally conducted through:

Routine checking

Couching

Balance sheet audit

22 / 25

The investment of personal assets by the owner:

Increase assets and liabilities

None of these

Has no effect on assets but increases owner‟s equity

Increases total assets only

Increases total assets and increases owner’s equity

23 / 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

24 / 25

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

Creditors

Owners

Bankers

25 / 25

Under the diminishing balance method, depreciation amount is:

Payment

Receipt

Expenditure

None of these

Your score is

The average score is 47%

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