Category Archives: PPSC Solved Past Papers MCQs

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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

Unpaid and unrecorded expenses are called?

A. Prepaid expense
B. Accrued expense
C. Additional expense
D. None of these

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

A. Liability
B. Equalities
C. Assets
D. None of these

Books of original entry are called?

A. Ledger
B. Work Sheets
C. Journal
D. None of these

Sources of funds can be increased by?

A. Describing selling prices
B. Increasing expenditure
C. By opting efficient process
D. None of above

Combination can be best described as?

A. Restructuring of Capital of a Company
B. Reduction of Capital of a Company
C. Amalgamation of two different type of businesses
D. Joint venture

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

A. 50
B. 20
C. 100
D. 70

Process coasting is relevant to?

A. Cement industry
B. Job Order cost oriented projects
C. Banking industry
D. None of above

Conversion cost is?

A. Material Cost + Overhead Cost
B. Direct Labour + Material Cost
C. Direct Labour – Material Cost
D. Labour Cost + Overhead cost