GAT Subject Test (Management Sciences)

National Testing Service Pakistan

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Florence Nightingale was ___ in the development of modern medicine, ___ such practices as sanitization of hospital wards and isolation of actively infected patients.

His habit of spending more than he earned left him in a state of perpetual------ but he------------hoping to see a more affluent day

Known for his commitment to numerous worthy causes, the philanthropist deserved------ for his-----------

You should --------this paragraph in order to make your essay more-----

A------glance pays-----attention to details

Surprisingly enough, it is more difficult to write about the--------than about the---and strange.

A-----response is one that is made with----------.

3. A----is a-------.

Consumption of red meat has ____ because its fat content has become a worrisome and ____ matter.

It takes ____ character to ____ the extremities of the arctic region.

Throughout the animal kingdom, ____ bigger than the elephant.

Although its publicity has been ___, the film itself is intelligent, well-acted, handsomely produced and altogether ___

The Inuit natives of Alaska's North Slope worry that ___ oil exploration might ___their sensitive natural environment.

In the given sentence, identify the gerund phrase: "Running marathons in extreme weather conditions requires immense determination and endurance."

Identify the logical fallacy in the following argument: "I've never seen a black swan; therefore, black swans do not exist."

Choose the word that best completes the analogy: Adorn: Decorate :: _______ : Amass

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?

Short-term loan can be described as having maximum period

A company is evaluating a project with a positive NPV (Net Present Value) but significant upfront investment. The project also has the flexibility to be abandoned after year 2 if market conditions worsen. How can this flexibility be best incorporated into the capital budgeting decision?

Company A has a debt-to-equity ratio of 0.5, while Company B has a ratio of 2.0. Which company is likely to have a higher weighted average cost of capital (WACC)?

A company with strong future growth prospects unexpectedly announces a significant increase in its dividend payout. According to signaling theory, what might this decision signal to investors?

Company X is considering acquiring Company Y. Synergies from the M&A are expected to arise from combining their sales forces. However, significant integration costs are also anticipated. How should these factors be best considered when evaluating the M&A?

Which of the following capital budgeting techniques takes into account the time value of money?

What is the main advantage of using debt financing over equity financing?

Sources of funds can be increased by

An owner investment of land into the business would

Quick Asset includes which of the fallowing

Which of the following marketing strategies involves creating a series of small, incremental product improvements to maintain customer interest and loyalty?

Which of the following marketing metrics measures the return on investment (ROI) of a marketing campaign by comparing the revenue generated to the cost of the campaign?

Which of the following marketing channels involves using opinion leaders to promote products or services to their followers?