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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.
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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

All of the following are forms of organizations except:

Corporation

Partnership

Retailer

None of these

Proprietorship

2 / 25

The investment of personal assets by the owner:

Increase assets and liabilities

Increases total assets only

Increases total assets and increases owner’s equity

None of these

Has no effect on assets but increases owner‟s equity

3 / 25

Short-term loan can be described as:

If the period is three years

If the period is less than one year

If the period is over one year

4 / 25

An owner investment of land into the business would:

Decrease assets

Decrease withdrawals

None of these

Increase liabilities

Increase owner’s equity

5 / 25

Unpaid and unrecorded expenses are called:

Prepaid expenses

Accrued expenses

Additional expenses

None of these

6 / 25

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

None of these

Assets

Capital

Drawings

7 / 25

Books of original entry are called:

Ledger

None of these

Work sheets

Journal

8 / 25

Income Tax rates are the same for:

Banking Companies

Limited Companies

None of above

9 / 25

Current Ratio is calculated as:

Fixed Assets/Current Liabilities

Current Assets/Current Liabilities

Current Liabilities/Current Assets

10 / 25

Users of accounting information include:

Investors

All of these

Creditors

The tax authorities

11 / 25

Audit of a bank is generally conducted through:

Balance sheet audit

Couching

Routine checking

12 / 25

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

Withdrawals

Assets

Owner‟s equity

Liabilities

None of these

13 / 25

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

Equities

None of these

Liability

Assets

14 / 25

Sources of funds can be increased by:

Describing selling prices

None of above

Increasing expenditure

15 / 25

Under the diminishing balance method, depreciation amount is:

None of these

Payment

Receipt

Expenditure

16 / 25

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

Partnership and proprietorship

None of these

Corporation only

Partnership only

Proprietorship

17 / 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

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

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

18 / 25

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

100

19 / 25

Super Tax on companies is:

None of above

In vogue in Pakistan

Not in vogue in Pakistan

20 / 25

Combination can be best described as:

Restructuring of Capital of a Company

Reduction of Capital of a Company

Amalgamation of two different types of businesses

21 / 25

Stratified audit sample means:

Purposively selected items for audit

Items carefully selected from each group

Randomly selected items for audit

22 / 25

Internal Control is totally synonymous with:

Internal check

None of above

Internal audit

23 / 25

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

Creditors

Bankers

Owners

24 / 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.

25 / 25

Income Tax is levied on:

Agricultural Income

None of above

Presumptive Income

Your score is

The average score is 70%