Category Archives: General Knowledge MCQs

Past Papers General Knowledge MCQs with Answer Keys for written test preparation of all competitive exams in Pakistan, specially PPSC, FPSC, CSS, PMS, NTS, UTS, FTS, OTS, Grammar, Linguistics, synonyms, antonyms, analogies, acronyms, articles from past papers

 

Pakistan follows the following budgeting system at federal level?

A. Zero-Based Budgeting
B. Program Budgeting
C. Incremental / decremental budgeting
D. Responsibility Budgeting

Under the Rule of thumb a good current ratio is?

A. 6 : 1
B. 10 : 1
C. .5 : 1
D. 2 : 1

The following represent tangible assets and are shown in the balance sheet as?

A. People
B. Expenses
C. Revenue
D. Goodwill

Accounting requirements governing NGOs are Prescribed in?

A. Partnership Act 1932
B. Cooperative Societies legislation
C. Companies Ordinance 1984
D. None of these

Trading loss occurs when?

A. Revenues exceed the matching relevant cost
B. Revenue and matching costs are equal to each other
C. When relevant matching cost exceeds revenues
D. None of these

Under the companies ordinance 1984, disclosure of financial information is legally required for listed companies under?

A. Schedule 6
B. Schedule 5
C. Schedule 4
D. Schedule 8

Double entry book-keeping was fathered by?

A. Luca Paioli
B. Yoyjiljiri
C. Micheal Hammer
D. Ishikawa

An auditor is liable under the following circumstances?

A. Third Party Liabilities
B. Fraud perpetrated in highly sophisticated circumstances
C. Both of above
D. None of these

Under the diminishing balance method depreciation amount is?

A. Payment
B. Receipt
C. Expenditure
D. None of these

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

A. Capital
B. Drawing
C. Assets
D. None of these