Tag Archives: Accountant Local Government and Community Development PPSC 2020

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

Sugar used in a sugarcane company is?

A. Variable cost
B. Semi Variable Cost
C. Fixed Cost
D. Step fixed Cost

Returned on investment is computed?

A. Invest / profit * 100
B. (Profit / investment) * 100
C. (Profit – dividend) / investment * 100
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

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