Tag Archives: Accountant Local Government and Community Development PPSC 2020

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

Work sheet is equivalent to?

A. Balance Sheet
B. Income Statement
C. Trail Balance
D. None of these

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

Accumulated loss of a company is shown in the balance sheet as?

A. Liability
B. Asset
C. As foot note to balance sheet
D. None of these

Double entry book-keeping was fathered by?

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

Conversion Cost is calculated as under?

A. Labour Plus Materials
B. Labour Plus Overheads
C. Labour minus Overheads
D. None of these