Assistant Director Budget & Accounts Officer Top 101 Solved MCQs Test Papers Unique Selective Sample Papers for PPSC Must Prepare Now
Write Simply the Correct Answer in the Answer Book. Do not repeat the questions.
(1) Sales budget must be prepared:
(a) Independently
(b) Depending on production capacity
(c) Based on Sales forecasts of market.
(2) Consolidation of subsidiary accounts in the balance sheet of a unlisted Holding company is at present in Pakistan:
(a) Compulsory
(b) Voluntary
(c) Required.
(3) Retained earning is synonymous to:
(a) Accumulated profit and loss account
(b) Profit for the year
(c) None of these.
(4) The requirements of an audit report for a Banking Company in Pakistan is under:
(a) Under the Banking Companies Ordinance, 1962.
(b) Under the Companies Ordinance, 1984.
(c) Under (a) and (b) above.
(5) Deferred Taxation is:
(a) Fixed asset
(b) Fixed liabilities
(c) Part of Owners Equity.
(6) Investment Corporation of Pakistan follows:
(a) Open-end mutual funds
(b) Closed-end mutual funds
(c) None of these.
(7) Directors Report is —- in respect of financial report constituent.
(a) Mandatory for a limited Company
(b) Voluntary for a limited Company
(c) None of these.
(8) Every limited Company in Pakistan is required by law to include the following along with financial reports:
(a) Ratio Analysis
(b) Chairman’s Review
(c) None of these.
(9) Cash budget excludes the following:
(a) Non-Cash items
(b) Cash items
(c) Purchase on Credit items.
(10) NGOs are legally required to:
(a) Prepare accounts in a prescribed manner under the law.(b) Prepare accounts as desired by donors.
(c) None of these.
(11) Fixed Cost:
a. Changes with production
b. Never changes even if production capacity is doubled
c. None of the above
(12) Conversion cost is:
a. Material Cost + Overhead Cost
b. Direct Labour + Material Cost
c. Labor Cost + Overhead Cost
(13) Process Costing is relevant to:
a. Cement industry
b. Job Order cost oriented Projects
c. None of the above
(14) Operating Profit is:
a. Profit after deducting financial costs
b. Profit after deducting taxes
c. Profit after deducting normal operating expenses including depreciation
(15) A good Cost Accounting System is:
a. If it computes estimated cost only
b. If it cannot be reconciled with financial accounts
c. If it enables management to increase productivity and rationalize cost structure
(16) Verification includes:
a. Checking Vouchers
b. Examining audit report
c. None of the above
(17) Stratified audit sample means:
a. Randomly selected items for audit
b. Purposively selected items for audit
c. Items carefully selected from each group
(18) Internal Control is totally synonymous with:
a. Internal check
b. Internal audit
c. None of above
(19) Audit of a bank is generally conducted through:
a. Routine checking
b. Couching
c. Balance sheet audit
(20) An auditor is liable for his annual audit of accounts o:
a. Creditors
b. Bankers
c. Owners