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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

Books of original entry are called:

Work sheets

Ledger

Journal

None of these

3 / 25

Users of accounting information include:

All of these

The tax authorities

Creditors

Investors

4 / 25

Under the diminishing balance method, depreciation amount is:

Receipt

Payment

Expenditure

None of these

5 / 25

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

None of these

Owner‟s equity

Liabilities

Withdrawals

Assets

6 / 25

The investment of personal assets by the owner:

Has no effect on assets but increases owner‟s equity

Increase assets and liabilities

Increases total assets only

None of these

Increases total assets and increases owner’s equity

7 / 25

Unpaid and unrecorded expenses are called:

Prepaid expenses

None of these

Additional expenses

Accrued expenses

8 / 25

Income Tax is levied on:

None of above

Agricultural Income

Presumptive Income

9 / 25

Sources of funds can be increased by:

Describing selling prices

None of above

Increasing expenditure

10 / 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.

11 / 25

Income Tax rates are the same for:

Limited Companies

None of above

Banking Companies

12 / 25

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

100

13 / 25

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

None of these

Equities

Assets

Liability

14 / 25

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

Drawings

Assets

Capital

None of these

15 / 25

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

Corporation only

Partnership only

Partnership and proprietorship

Proprietorship

None of these

16 / 25

An owner investment of land into the business would:

Increase owner’s equity

Decrease withdrawals

Decrease assets

None of these

Increase liabilities

17 / 25

Short-term loan can be described as:

If the period is over one year

If the period is three years

If the period is less than one year

18 / 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

19 / 25

Internal Control is totally synonymous with:

Internal check

Internal audit

None of above

20 / 25

Current Ratio is calculated as:

Current Assets/Current Liabilities

Current Liabilities/Current Assets

Fixed Assets/Current Liabilities

21 / 25

Super Tax on companies is:

None of above

Not in vogue in Pakistan

In vogue in Pakistan

22 / 25

Stratified audit sample means:

Randomly selected items for audit

Items carefully selected from each group

Purposively selected items for audit

23 / 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

24 / 25

Audit of a bank is generally conducted through:

Balance sheet audit

Couching

Routine checking

25 / 25

All of the following are forms of organizations except:

Retailer

Partnership

None of these

Proprietorship

Corporation

Your score is

The average score is 70%