Instructor/Lecturer Commerce PPSC

Punjab Public Service Commission Pakistan

Instructor/Lecturer (Male) (BS-17). Master Degree in Commerce, Business Administration, Economics, Accounting & Finance. Age 21+28+05 Years

10 contributor - 5 Folowers

Hello everybody!

Hello everybody!

hello my name is abdullah



Double entry book-keeping was fathered by?


Funds Flow Statement and sources and application statement are:


Depreciation in spirit is similar to


Balance Sheet is always prepared


In Insurance, the following Profit and Loss Accounts are prepared


Quick Ratio can be computed as under


Retained earning is synonymous to


The requirements of an audit report for a Banking Company in Pakistan is under


Deferred Taxation is part of


Investment Corporation of Pakistan follows


Directors Report is mandatory in respect of financial report constituent of


Every limited Company in Pakistan is required by law to include the following along with financial reports


Cash budget excludes the following


NGOs are legally required to


Operating Profit is


Books of original entry are called


For preparing balance sheets prepaid expenses are shown as part of


Unpaid and unrecorded expenses are called


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


Under the diminishing balance method, depreciation amount is


Users of accounting information includes


The business form(s) in which the owner(s) is (are) personally liable is (are) the


The investment of personal assets by the owner


All of the following are forms of organizations except


A cash purchase of supplies would


An owner investment of each into the business would


The payment of rent each month for office space would


Real accounts are related to


Which one of the following accounts would usually have a debit balance?


Quick assets include which of the following?


Accounting principles are generally based on the principle of


Rent paid to the land lord should be credited to


In the event of dissolution of a partnership firm the provision for doubtful debts is transferred to


A prospectus for share can be issued only by


Preliminary expenses are


The valuation of closing stock is at


A liability in the amount of Rs. 500/- is paid in cash which of the fallowing is true


Which one of the following account normally have a credit balance?


A company collected one year’s rent in advance on October 1st ,2022 the entries Rs 1200 was credited to unearned revenue account the adjusting entry at the December 31,2022 year ended would include


When a small stock dividend is declared which of the fallowing accounts is credited


An advantages of the partnership form of business organization is its


In balance sheet accumulated loss of company shown as


Double Entry Book Keeping was fathered by


Which of the following statements is NOT true about the relationship between the chronological journal and the general journal?


A company mistakenly recorded a purchase of inventory for $10,000 as an expense. How can a strong internal control system help identify this error most effectively?


Company A uses a single general journal for all transactions, while Company B utilizes a sales journal and a purchases journal. Which company is likely to be more efficient in recording transactions?


A company has a trial balance that balances perfectly. Does this guarantee the absence of errors in the journals and general ledger?


A company pays rent for a full year upfront on January 1st for $12,000. How should this transaction be recorded in the journals?


Flexible budget is a budget with the following features


Break Even can be calculated as under


Sales budget must be prepared


Fixed Cost


Conversion cost is equal to


Process Costing method is related to


A good Cost Accounting System is


Net income plus operating expenses is equal to


The master budget comprises of


Cost volume profit analysis is the method used to estimate the impact on profit is of changes in


In a manufacturing company product cost include


Which of the fallowing accounts would not be included in the computation of the cost of goods sold


Total manufacturing cost for a period includes all of the fallowing except


What is the primary purpose of calculating the Cost of Goods Sold (COGS)?


What is the effect on COGS if the opening inventory is overvalued?


Who is the father of economics?


The branch of economics that deals with the allocation of resources is called ______.


Which of the following factors does NOT influence the demand for a good?


If the demand for a product increases while its supply remains constant, what will happen to the equilibrium price and quantity?


Which of the following statements about elasticity of demand is true?


Which of the following events would lead to a decrease in the equilibrium price of oranges?


When is the price elasticity of supply perfectly inelastic?


If both supply and demand increase but the increase in supply is larger, what will happen to equilibrium price and quantity?


Which of the following is an example of a substitute good?


Which of the following would lead to a rightward shift of the supply curve?


If the price elasticity of demand for a good is less than 1, the demand is considered


What is the name of email.