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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

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

Ratio Analysis

Chairman’s Review

None of these

2 / 25

The long-run objective of financial management is to:

Maximize the value of the firm's common stock

Maximize market share

Maximize earnings per share

Maximize return on investment

3 / 25

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

A receivable

Unearned revenue

Prepaid revenue

A payable

4 / 25

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

Compulsory

Required

Voluntary

5 / 25

NGOs are legally required to:

Prepare accounts as desired by donors

None of these

Prepare accounts in a prescribed manner under the law

6 / 25

Process Costing is relevant to:

None of the above

Cement industry

Job Order cost oriented Projects

7 / 25

Investment Corporation of Pakistan follows:

Open-end mutual funds

None of these

Closed-end mutual funds

8 / 25

Retained earnings is synonymous to:

None of these

Accumulated profit and loss account

Profit for the year

9 / 25

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

Debit column of the income statement columns of the worksheet

In the debit column of the adjusted trial balance

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

Credit column of the income statement in worksheet

10 / 25

A good Cost Accounting System is:

If it enables management to increase productivity and rationalize cost structure

If it computes estimated cost only

If it cannot be reconciled with financial accounts

11 / 25

How many approaches accounting has:

None

One

Three

Two

12 / 25

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

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

Summarize and communicate information to decision makers

Classify the effects of transactions to facilitate the preparation of reports

Interpret and record the effects of business transaction

13 / 25

Verification includes:

Examining audit report

None of the above

Checking Vouchers

14 / 25

Audit of a bank is generally conducted through:

Routine checking

couching

Balance sheet audit

15 / 25

Operating Profit is:

Profit after deducting normal operating expenses including depreciation

Profit after deducting financial costs

Profit after deducting taxes

16 / 25

Fixed Cost:

Changes with production

Never changes even if production capacity is doubled

None of the above

17 / 25

Stratified audit sample means:

Items carefully selected from each group

Randomly selected items for audit

Purposively selected items for audit

18 / 25

Cash budget excludes the following:

Purchase on Credit items

Non-Cash items

Cash items

19 / 25

Conversion cost is:

Labour Cost + Overhead Cost

Material Cost + Overhead Cost

Direct Labour + Material Cost

20 / 25

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

Voluntary for a limited Company

Mandatory for a limited Company

None of these

21 / 25

Deferred Taxation is:

Fixed asset

Part of Owners Equity

Fixed liabilities

22 / 25

Internal Control is totally synonymous with:

Internal check

internal audit

None of above

23 / 25

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

The assumptions and measurement techniques involved in developing accounting information

All of Above

The nature of economic activities that accounting information describes

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

24 / 25

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

Bankers

Creditors

Owners

25 / 25

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

Under the Banking Companies Ordinance, 1962.

Under (a) and (b) above

Under the Companies Ordinance, 1984.

Your score is

The average score is 62%

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