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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

Under the diminishing balance method, depreciation amount is:

None of these

Expenditure

Receipt

Payment

2 / 25

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

100

3 / 25

Users of accounting information include:

All of these

Investors

The tax authorities

Creditors

4 / 25

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

Creditors

Bankers

Owners

5 / 25

Internal Control is totally synonymous with:

Internal audit

None of above

Internal check

6 / 25

A resident multinational company need not:

None of above

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

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

7 / 25

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

Assets

None of these

Drawings

Capital

8 / 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

9 / 25

An owner investment of land into the business would:

None of these

Increase owner’s equity

Decrease withdrawals

Decrease assets

Increase liabilities

10 / 25

Unpaid and unrecorded expenses are called:

None of these

Accrued expenses

Additional expenses

Prepaid expenses

11 / 25

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

Equities

Assets

Liability

None of these

12 / 25

The investment of personal assets by the owner:

Increases total assets and increases owner’s equity

Increase assets and liabilities

None of these

Increases total assets only

Has no effect on assets but increases owner‟s equity

13 / 25

Short-term loan can be described as:

If the period is less than one year

If the period is three years

If the period is over one year

14 / 25

Income Tax rates are the same for:

None of above

Banking Companies

Limited Companies

15 / 25

Income Tax is levied on:

Presumptive Income

Agricultural Income

None of above

16 / 25

Audit of a bank is generally conducted through:

Routine checking

Couching

Balance sheet audit

17 / 25

Super Tax on companies is:

None of above

In vogue in Pakistan

Not in vogue in Pakistan

18 / 25

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

Withdrawals

Liabilities

Owner‟s equity

None of these

Assets

19 / 25

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

Partnership only

None of these

Proprietorship

Partnership and proprietorship

Corporation only

20 / 25

Combination can be best described as:

Restructuring of Capital of a Company

Amalgamation of two different types of businesses

Reduction of Capital of a Company

21 / 25

Books of original entry are called:

Ledger

Work sheets

Journal

None of these

22 / 25

Current Ratio is calculated as:

Fixed Assets/Current Liabilities

Current Assets/Current Liabilities

Current Liabilities/Current Assets

23 / 25

Stratified audit sample means:

Randomly selected items for audit

Items carefully selected from each group

Purposively selected items for audit

24 / 25

All of the following are forms of organizations except:

Retailer

Partnership

None of these

Corporation

Proprietorship

25 / 25

Sources of funds can be increased by:

Describing selling prices

Increasing expenditure

None of above

Your score is

The average score is 4%

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