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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

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

Owners

Creditors

Bankers

2 / 25

Income Tax rates are the same for:

None of above

Banking Companies

Limited Companies

3 / 25

Unpaid and unrecorded expenses are called:

Prepaid expenses

Accrued expenses

None of these

Additional expenses

4 / 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

5 / 25

An owner investment of land into the business would:

Increase owner’s equity

Decrease withdrawals

Increase liabilities

None of these

Decrease assets

6 / 25

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

Equities

Liability

None of these

Assets

7 / 25

Books of original entry are called:

None of these

Journal

Work sheets

Ledger

8 / 25

Under the diminishing balance method, depreciation amount is:

Payment

Expenditure

Receipt

None of these

9 / 25

Short-term loan can be described as:

If the period is over one year

If the period is less than one year

If the period is three years

10 / 25

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

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

Pay income tax as required under the law

11 / 25

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

None of these

Withdrawals

Liabilities

Owner‟s equity

Assets

12 / 25

Current Ratio is calculated as:

Current Assets/Current Liabilities

Current Liabilities/Current Assets

Fixed Assets/Current Liabilities

13 / 25

Audit of a bank is generally conducted through:

Routine checking

Balance sheet audit

Couching

14 / 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.

15 / 25

All of the following are forms of organizations except:

None of these

Partnership

Corporation

Retailer

Proprietorship

16 / 25

The investment of personal assets by the owner:

Has no effect on assets but increases owner‟s equity

Increases total assets and increases owner’s equity

Increases total assets only

Increase assets and liabilities

None of these

17 / 25

Stratified audit sample means:

Items carefully selected from each group

Purposively selected items for audit

Randomly selected items for audit

18 / 25

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

100

19 / 25

Income Tax is levied on:

None of above

Agricultural Income

Presumptive Income

20 / 25

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

None of these

Drawings

Capital

Assets

21 / 25

Super Tax on companies is:

None of above

In vogue in Pakistan

Not in vogue in Pakistan

22 / 25

Internal Control is totally synonymous with:

Internal audit

Internal check

None of above

23 / 25

Sources of funds can be increased by:

None of above

Increasing expenditure

Describing selling prices

24 / 25

Users of accounting information include:

Investors

The tax authorities

Creditors

All of these

25 / 25

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

Partnership only

None of these

Proprietorship

Corporation only

Partnership and proprietorship

Your score is

The average score is 70%