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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

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

None of these

Drawings

Capital

Assets

2 / 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

3 / 25

Super Tax on companies is:

Not in vogue in Pakistan

None of above

In vogue in Pakistan

4 / 25

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

Assets

Liability

Equities

None of these

5 / 25

Unpaid and unrecorded expenses are called:

Additional expenses

Prepaid expenses

Accrued expenses

None of these

6 / 25

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

Pay income tax, even if the income does not exceed the taxable income

Pay income tax as required under the law

No need to pay income tax, even if the income exceeds the taxable limit

7 / 25

All of the following are forms of organizations except:

Partnership

Retailer

None of these

Proprietorship

Corporation

8 / 25

Current Ratio is calculated as:

Current Assets/Current Liabilities

Current Liabilities/Current Assets

Fixed Assets/Current Liabilities

9 / 25

Short-term loan can be described as:

If the period is three years

If the period is less than one year

If the period is over one year

10 / 25

The investment of personal assets by the owner:

None of these

Has no effect on assets but increases owner‟s equity

Increase assets and liabilities

Increases total assets and increases owner’s equity

Increases total assets only

11 / 25

Internal Control is totally synonymous with:

Internal check

Internal audit

None of above

12 / 25

Audit of a bank is generally conducted through:

Routine checking

Couching

Balance sheet audit

13 / 25

Stratified audit sample means:

Purposively selected items for audit

Items carefully selected from each group

Randomly selected items for audit

14 / 25

Income Tax is levied on:

Agricultural Income

Presumptive Income

None of above

15 / 25

Under the diminishing balance method, depreciation amount is:

Expenditure

Payment

None of these

Receipt

16 / 25

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

Assets

Liabilities

None of these

Owner‟s equity

Withdrawals

17 / 25

Sources of funds can be increased by:

Increasing expenditure

None of above

Describing selling prices

18 / 25

Income Tax rates are the same for:

None of above

Limited Companies

Banking Companies

19 / 25

Books of original entry are called:

Ledger

None of these

Journal

Work sheets

20 / 25

An owner investment of land into the business would:

Decrease assets

None of these

Decrease withdrawals

Increase owner’s equity

Increase liabilities

21 / 25

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

Owners

Creditors

Bankers

22 / 25

Users of accounting information include:

The tax authorities

Creditors

All of these

Investors

23 / 25

A resident multinational company need not:

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

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

None of above

24 / 25

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

100

25 / 25

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

Corporation only

Proprietorship

None of these

Partnership and proprietorship

Partnership only

Your score is

The average score is 73%