PPSC Lecturer of commerce

PPSC Lecturer Commerce Test 1 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 1
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 1

1 / 25

NGOs are legally required to:

Prepare accounts as desired by donors

None of these.

Prepare accounts in a prescribed manner under the law.(

2 / 25

Sales budget must be prepared:

Independently

Depending on production capacity

Based on Sales forecasts of market

3 / 25

Retained earning is synonymous to:

None of these

Profit for the year

Accumulated profit and loss account

4 / 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

5 / 25

Double entry book-keeping was fathered by:

Henry Fayol

Lucas Pacioli.

F.W.Taylor

6 / 25

Operating Profit is:

Profit after deducting normal operating expenses including depreciation

Profit after deducting financial costs

Profit after deducting taxes

7 / 25

Cash budget excludes the following:

Cash items

Non-Cash items

Purchase on Credit items.

8 / 25

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

Mandatory for a limited Company

Voluntary for a limited Company

None of these

9 / 25

Fixed Cost:

Changes with production

None of the above

Never changes even if production capacity is doubled

10 / 25

Funds Flow Statement and sources and application statement are:

None of these

Antagonistic

Synonymous

11 / 25

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

Required

Voluntary

Compulsory

12 / 25

Depreciation in spirit is similar to:

Amortization

Depression

Depletion

13 / 25

Investment Corporation of Pakistan follows:

None of these

Open-end mutual funds

Closed-end mutual funds

14 / 25

Flexible budget is a budget with the following features:

Changes with volume of production and sales

Changes with variable expenses

Changes in Direct material

15 / 25

Conversion cost is:

Direct Labour + Material Cost

Material Cost + Overhead Cost

Labour Cost + Overhead Cost

16 / 25

A good Cost Accounting System is:

If it computes estimated cost only

If it cannot be reconciled with financial accounts

If it enables management to increase productivity and rationalize cost structure

17 / 25

Deferred Taxation is:

Part of Owners Equity.

Fixed liabilities

Fixed asset

18 / 25

Quick Ratio can be computed as under:

Current Assets/ Current Liabilities

Quick Liabilities / Current Assets

Quick , Assets/Quick Liabilities

19 / 25

In Insurance, the following Profit and Loss Accounts are prepared:

Consolidated for

all of above

Separate for Fire, Marine, and Accidents

20 / 25

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

Under the Banking Companies Ordinance, 1962

All of above

Under the Companies Ordinance, 1984

21 / 25

Partners in Pakistan can today be fixed at the following numbers:

22 / 25

Verification includes:

Checking Vouchers

Examining audit report

None of the above

23 / 25

Process Costing is relevant to:

Job Order cost oriented Projects

None of the above

Cement industry

24 / 25

In straight line method of depreciation, the written down value of a fixed asset will be at the end of the life of the asset as under:

None of these

Rupee zero

Rupee one

25 / 25

Balance Sheet is always prepared:

for the year ended

None of these

As on a specified date

Your score is

The average score is 0%

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