20 Accountant Jobs PPSC Ad No. 32-2023 Written Test MCQs Syllabus Past Paper PDF for Accountant in Punjab Food Authority Food Department Apply Online Now

20 Accountant Jobs PPSC Ad No. 32-2023 Written Test MCQs Syllabus Past Paper PDF for Accountant in Punjab Food Authority Food Department Apply Online Now

Punjab Public Service Commission Ad No. 32/2023 Accountant Jobs in Punjab Food Authority Food Department

Vacancy Positions:

Accountant (BS-15) = 20 Posts (Contractual Period on 03 Years)

Qualification/ Experience:

B.A/ B.Com (2nd Division) with three years experience as Accountant.

Note:

  1. Only practical experience in relevant field after prescribed qualification shall be considered.

  2. Experience in private entities shall be accepted if such entity is registered with SECP, Registrar of Firms or any other Regularity Authority.

PPSC Written Test MCQs Syllabus Paper PDF

One paper of MCQs Type written test of 100 Marks and 90 minutes duration. Syllabus is as under:-

i) B.Com related Questions. (50%)

ii) General Ability including (50%)

General Knowledge, Pakistan Studies, Current Affairs, Geography, English, Urdu, Everyday Science, Basic Math and Basic Computer Studies.

20 Accountant Jobs PPSC Ad No. 32-2023 Written Test MCQs Syllabus Past Paper PDF

20 Accountant Jobs PPSC Ad No. 32-2023 Written Test MCQs Syllabus Past Paper PDF

Accountant 25 MCQs Written Test Question with Answers PDF Past Paper Food Department Punjab Food Authority

  1. Question: What is the accounting equation?
    • A) Assets = Liabilities + Owner’s Equity
    • B) Revenue – Expenses = Net Income
    • C) Assets – Liabilities = Owner’s Equity
    • D) Assets + Liabilities = Owner’s Equity
    • Answer: A) Assets = Liabilities + Owner’s Equity
  2. Question: What is the purpose of a balance sheet?
    • A) To show the company’s profitability
    • B) To list the company’s expenses
    • C) To show the financial position at a specific point in time
    • D) To track the company’s cash flows
    • Answer: C) To show the financial position at a specific point in time
  3. Question: Which accounting principle states that expenses should be recorded when they are incurred, regardless of when cash is paid?
    • A) Matching Principle
    • B) Revenue Recognition Principle
    • C) Cash Basis Accounting
    • D) Accrual Basis Accounting
    • Answer: D) Accrual Basis Accounting
  4. Question: What is the formula for calculating Net Income?
    • A) Revenue – Expenses
    • B) Assets – Liabilities
    • C) Assets + Liabilities
    • D) Revenue + Expenses
    • Answer: A) Revenue – Expenses
  5. Question: What does ROI stand for in accounting?
    • A) Return on Investment
    • B) Revenue of Interest
    • C) Ratio of Income
    • D) Return on Income
    • Answer: A) Return on Investment
  6. Question: Which financial statement represents a company’s profitability over a period of time?
    • A) Balance Sheet
    • B) Income Statement
    • C) Statement of Cash Flows
    • D) Statement of Owner’s Equity
    • Answer: B) Income Statement
  7. Question: What is depreciation?
    • A) The process of increasing the value of an asset
    • B) The process of reducing the value of an asset over its useful life
    • C) The process of valuing liabilities
    • D) The process of evaluating revenue
    • Answer: B) The process of reducing the value of an asset over its useful life
  8. Question: Which accounting principle requires that assets should be recorded at their original cost?
    • A) Matching Principle
    • B) Cost Principle
    • C) Revenue Recognition Principle
    • D) Conservatism Principle
    • Answer: B) Cost Principle
  9. Question: What is the purpose of the cash flow statement?
    • A) To show the company’s assets and liabilities
    • B) To demonstrate changes in equity over a period
    • C) To track the movement of cash in and out of the business
    • D) To calculate the company’s profitability
    • Answer: C) To track the movement of cash in and out of the business
  10. Question: Which financial statement shows the changes in equity over a specific period?
    • A) Income Statement
    • B) Statement of Owner’s Equity
    • C) Balance Sheet
    • D) Statement of Cash Flows
    • Answer: B) Statement of Owner’s Equity
  1. Question: What is the purpose of the trial balance?
    • A) To calculate net income
    • B) To verify the accuracy of debits and credits
    • C) To prepare financial statements
    • D) To record daily transactions
    • Answer: B) To verify the accuracy of debits and credits
  2. Question: Which accounting principle states that expenses should be matched with the revenues they help to generate?
    • A) Cost Principle
    • B) Matching Principle
    • C) Conservatism Principle
    • D) Revenue Recognition Principle
    • Answer: B) Matching Principle
  3. Question: What is the formula for calculating Return on Equity (ROE)?
    • A) Net Income / Total Assets
    • B) Net Income / Shareholders’ Equity
    • C) Net Income / Total Liabilities
    • D) Net Income / Revenue
    • Answer: B) Net Income / Shareholders’ Equity
  4. Question: Which financial statement reports the cash generated and used during a specific period?
    • A) Income Statement
    • B) Balance Sheet
    • C) Statement of Cash Flows
    • D) Statement of Owner’s Equity
    • Answer: C) Statement of Cash Flows
  5. Question: What is the purpose of the accrual basis of accounting?
    • A) To record transactions only when cash is received or paid
    • B) To match revenues and expenses in the period they occur
    • C) To ensure the accuracy of cash flow statements
    • D) To delay recognition of revenues and expenses
    • Answer: B) To match revenues and expenses in the period they occur
  6. Question: Which term refers to the financial statement that summarizes a company’s revenues and expenses during a specific period?
    • A) Income Statement
    • B) Statement of Cash Flows
    • C) Balance Sheet
    • D) Statement of Owner’s Equity
    • Answer: A) Income Statement
  7. Question: What is the purpose of the Generally Accepted Accounting Principles (GAAP)?
    • A) To standardize financial reporting
    • B) To regulate tax filings
    • C) To manage internal audits
    • D) To calculate return on investment
    • Answer: A) To standardize financial reporting
  8. Question: What does the term “amortization” refer to in accounting?
    • A) Gradually paying off a liability over time
    • B) Decreasing the value of an intangible asset over its useful life
    • C) Increasing the value of an asset
    • D) Calculating the present value of future cash flows
    • Answer: B) Decreasing the value of an intangible asset over its useful life
  9. Question: What is the purpose of the statement of retained earnings?
    • A) To show the company’s cash position
    • B) To detail changes in owner’s equity over a period
    • C) To demonstrate changes in liabilities
    • D) To summarize revenues and expenses
    • Answer: B) To detail changes in owner’s equity over a period
  10. Question: What is the purpose of the double-entry accounting system?
    • A) To record only one side of a transaction
    • B) To prevent errors in financial statements
    • C) To record transactions without considering debits and credits
    • D) To calculate total revenue
    • Answer: B) To prevent errors in financial statements
  1. Question: Which financial statement presents a snapshot of a company’s financial position at a specific point in time?
    • A) Income Statement
    • B) Statement of Cash Flows
    • C) Balance Sheet
    • D) Statement of Owner’s Equity
    • Answer: C) Balance Sheet
  2. Question: What is the purpose of the “going concern” principle in accounting?
    • A) To assess the profitability of a company
    • B) To evaluate a company’s liquidity
    • C) To assume that the company will continue to operate in the foreseeable future
    • D) To calculate the return on investment
    • Answer: C) To assume that the company will continue to operate in the foreseeable future
  3. Question: Which financial statement demonstrates changes in a company’s cash and cash equivalents over a period?
    • A) Income Statement
    • B) Balance Sheet
    • C) Statement of Cash Flows
    • D) Statement of Owner’s Equity
    • Answer: C) Statement of Cash Flows
  4. Question: What is the purpose of the trial balance?
    • A) To prepare financial statements
    • B) To verify the equality of debits and credits
    • C) To track daily transactions
    • D) To calculate net income
    • Answer: B) To verify the equality of debits and credits
  5. Question: Which accounting principle requires businesses to report the least favorable figures in financial statements when there is uncertainty?
    • A) Matching Principle
    • B) Conservatism Principle
    • C) Revenue Recognition Principle
    • D) Cost Principle
    • Answer: B) Conservatism Principle

20 Accountant Jobs PPSC Ad No. 32-2023 Written Test MCQs Syllabus Past Paper PDF for Accountant in Punjab Food Authority Food Department Apply Online Now