Accounting & Auditing Paper -II (2000)

Accounting & Auditing Paper -II (2000)

1. Fixed Cost:
a. Changes with production
b. Never changes even if production capacity is doubled
c. None of the above

2. Conversion cost is:
a. Material Cost + Overhead Cost
b. Direct Labour + Material Cost
c. Labour Cost + Overhead Cost

3. Process Costing is relevant to:
a. Cement industry
b. Job Order cost oriented Projects
c. None of the above

4. Operating Profit is:
a. Profit after deducting financial costs
b. Profit after deducting taxes
c. Profit after deducting normal operating expenses including depreciation

5. A good Cost Accounting System is:
a. If it computes estimated cost only
b. If it cannot be reconciled with financial accounts
c. If it enables management to increase productivity and rationalize cost structure

6. Verification includes:
a. Checking Vouchers
b. Examining audit report
c. None of the above

7. Stratified audit sample means:
a. Randomly selected items for audit
b. Purposively selected items for audit
c. Items carefully selected from each group

8. Internal Control is totally synonymous with:
a. Internal check
b. Internal audit
c. None of above

9. Audit of a bank is generally conducted through:
a. Routine checking
b. Couching
c. Balance sheet audit

10. An auditor is liable for his annual audit of accounts o:
a. Creditors
b. Bankers
c. Owners

11. Income Tax is levied on:
a. Agricultural Income
b. Presumptive Income
c. None of above

12. If a firm has paid super-tax, its partners may follow any one of the following behaviours:
a. No need to pay income tax, even if the income exceeds the taxable limit.

b. Pay income tax, even if the income does not exceed the taxable income.
c. Pay income tax as required under the law. 

13. A resident multinational company need not:
a. Pay income tax, if it s caused under Double Taxation agreement.
b. If it is not enjoying tax exemption under the Income Tax Ordinance, 1979 (Second Schedule).
c. None of above

14. Income Tax rates are the same for:
a. Limited Companies
b. Banking Companies
c. None of above

15. Super Tax on companies is:
a. In vogue in Pakistan
b. Not in vogue in Pakistan
c. None of above

16. Current Ratio is calculated as:
a. Fixed Assets/Current Liabilities
b. Current Liabilities/Current Assets
c. Current Assets/Current Liabilities

17. Short-term loan can be described as:
a. If the period is three years
b. If the period is less than one year
c. If the period is over one year

18. A partnership, in today’s Pakistan, under the current law can have the following number of partners:
a. 50
b. 20
c. 100

19. 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 types of businesses

20. Sources of funds can be increased by:
a. Describing selling prices
b. Increasing expenditure
c. None of above

Accounting & Auditing Paper -I (2000)

Accounting & Auditing Paper -I (2000)

(1) Double entry book-keeping was fathered by:
(a) F.W.Taylor 
(b) Henry Fayol 
(c) Lucas Pacioli.

(2) Funds Flow Statement and sources and application statement are:’
(a) Synonymous 
(b) Antagonistic 
(c) None of these.

(3) Depreciation in spirit is similar to:
(a) Depletion 
(b) Amortization 
(c) Depression.

4) Balance Sheet is always prepared:
(a) for the year ended. 
(b) As on a specified date. 
(c) None of these.

(5) In Insurance, the following Profit and Loss Accounts are prepared:
(a) Separate for Fire, Marine, and Accidents etc.
(b) Consolidated for Fire, Marine, and Accidents etc.(c) None of these.

(6) Partners in Pakistan can today be fixed at the following numbers:
(a) 20 
(b) 50 
(c) 75.

(7) Flexible budget is a budget with the following features:
(a) Changes with volume of production.
(b) Changes with variable expenses
(c) Changes in Direct material.

(8) Break Even can be calculated as under:
(a) ______VC_______
FC- TR TC
(b) FC
I- VC TR(c) None of these.

(9) Quick Ratio can be computed as under:
(a) Quick . Assets/Quick Liabilities
(b) Quick . Liabilities Current Assets
(c) Current Assets/ Current Liabilities

(10) In straight line method of depreciation, the written down value of a fixed asset will be at the end of the life of the asset as under:
(a) Rupee one 
(b) Rupee zero (c) None of these.

(11) Sales budget must be prepared:
(a) Independently 
(b) Depending on production capacity 
(c) Based on Sales forecasts of market. 

(12) Consolidation of subsidiary accounts in the balance sheet of a unlisted Holding company is at present in Pakistan:
(a) Compulsory 
(b) Voluntary 
(c) Required. 

(13) Retained earning is synonymous to:
(a) Accumulated profit and loss account
(b) Profit for the year
(c) None of these.

(14) The requirements of an audit report for a Banking Company in Pakistan is under:
(a) Under the Banking Companies Ordinance, 1962.
(b) Under the Companies Ordinance, 1984.
(c) Under (a) and (b) above.

(15) Deferred Taxation is:
(a) Fixed asset
(b) Fixed liabilities
(c) Part of Owners Equity.

(16) Investment Corporation of Pakistan follows:
(a) Open-end mutual funds 
(b) Closed-end mutual funds 
(c) None of these.

(17) Directors Report is ---- in respect of financial report constituent.
(a) Mandatory for a limited Company
(b) Voluntary for a limited Company
(c) None of these.

(18) Every limited Company in Pakistan is required by law to include the following along with financial reports:
(a) Ratio Analysis
(b) Chairman’s Review
(c) None of these.

(19) Cash budget excludes the following:
(a) Non-Cash items
(b) Cash items
(c) Purchase on Credit items.

(20) NGOs are legally required to:
(a) Prepare accounts in a prescribed manner under the law.(b) Prepare accounts as desired by donors.
(c) None of these.

SENIOR AUDITOR , Federal Public Service Commission(FPSC), MCQs

Sample Test questions for Senior Auditor Test by Federal Public Service Commission.

1. A company is owned by its

(A) directors
(B) managers
(C) shareholders
(D) employs

2. Shares of listed companies are traded in the
(A) stock exchange
(B) option market
(C) future exchange
(D) none of these

3. What from the following is an integral part of business?
(A) Profit
(B) Risk
(C) Certainty
(D) Profit and Risk

4. A company sold goods of worth Rs.1 million, the manufacturing cost of the goods were Rs.600,000. The transport used in the sale cost Rs.100,000 and the wages paid during the process of sale were also Rs.100,000. What is the gross and net profit?
(A) Gross Profit = Rs.600,000 and Net Profit = Rs.400,000
(B) Gross Profit = Rs.400,000 and Net Profit = Rs.600,000
(C) Gross Profit = Rs.200,000 and Net Profit = Rs.400,000
(D) Gross Profit = Rs.400,000 and Net Profit = Rs.200,000

5. Every transaction has a _____ effect.
(A) zero
(B) single
(C) double
(D) triple

ANSWERS: SENIOR AUDITOR TEST SAMPLE PAPER
1(C) 2(A) 3(B) 4(D) 5(C)

6. The main source(s) of Generally Accepted Accounting Principles (GAAP) is/are:
(A) Company Law
(B) Accounting standards
(C) Both A and B
(D) None of these

7. What standards are used to prepare financial statements by most of the countries and companies
(A) International Financial Reporting Standards
(B) International Financial Accounting Standards
(C) International Accounting & Auditing Standards
(D) International Risk Reporting Standards

8. The correct form of Accounting equation is
(A) Assets + Liabilities = Equity
(B) Assets – Liabilities = Equity
(C) Assets – Receivable = Equity
(D) Assets + Receivable = Equity

9. A company sold goods worth $5,000 on 5 June and $10,000 on 28 June. The company received the first payment on 25 June and second on 7 July. The company prepared the financial statement on 30 June. What would be the total sale on the financial statement?
(A) $0
(B) $5,000
(C) $10,000
(D) $15,000

10. Advance payments are recognized as
(A) receivable
(B) payable
(C) bad debt
(D) none of these

ANSWERS: ACCOUNTING QUIZ
6(C) 7(A) 8(B) 9(D) 10(A)

11. What from the following is NOT a current asset?
(A) Patent rights
(B) Inventory
(C) Cash
(D) Trade receivables

12. What from the following is NOT a non-current asset?
(A) Capital
(B) Property
(C) Patent rights
(D) Inventory

13. What from the following is/are NOT tangible asset(s)?
I. Patent rights
II. Goodwill
III. Land
(A) I only
(B) II only
(C) I and II only
(D) I, II and III

14. A machine price was $1,000 and was carried through a truck. The truck’s fares were $500. The engineers charged $500 for the installation. The cost of the machine is?
(A) $1,000
(B) $1,500
(C) $2,000
(D) $2,500

15. Depreciable amount =
(A) Cost of an asset + Residual value
(B) Cost of an asset – Residual value
(C) Residual value – Cost of an asset
(D) None of these

ANSWERS: ACCOUNTING MCQS
11(A) 12(D) 13(C) 14(C) 15(B)

16. The accounting process of allocation cost of intangible assets is called
(A) Amortization
(B) Depletion
(C) Going Concern
(D) Residual Value

17. The process of recording consumption of natural resources (or wasting assets) is called
(A) Amortization
(B) Depletion
(C) Going Concern
(D) Residual Value

18. The concept that the enterprise will continue in a foreseeable future is known as
(A) Amortization
(B) Depletion
(C) Going Concern
(D) Residual Value

19. What from the following is NOT a capital expense?
(A) Purchase of property
(B) Purchase of office equipment
(C) Replacement of a vehicle,
(D) Repair of a vehicle

20. An item of equipment cost $300,000 and has a residual value of $50,000 at the end of its expected useful life of four years. What is the depreciable amount?
(A) $50,000
(B) $250,000
(C) $300,000
(D) $350,000

ANSWERS: ACCOUNTING QUIZZES
16(A) 17(B) 18(C) 19(D) 20(B)

21. The expected disposal value of the asset (after deducting disposal costs) at the end of its expected useful life is called
(A) residual value
(B) net book value
(C) depreciation
(D) substance over form

22. The figure that appears in the statement of financial position, after the depreciation, is known as
(A) depreciation
(B) substance over form
(C) residual value
(D) net book value

23. Which from the following asset is NOT depreciated?
I. Advances
II. Land
III. Machinery
(A) I only
(B) II only
(C) I and II
(D) II and III

24. Depreciation is normally charged as
(A) payable
(B) receivable
(C) expenses
(D) advances

25. A company purchases a non-current asset in Year 1 for $90,000. The depreciation charge is $15,000. What net book value would be recorded in financial position statement (or balance sheet) at the end of Year-2?
(A) $75,000
(B) $60,000
(C) $30,000
(D) $15,000

ANSWERS: ACCOUNTING MULTIPLE CHOICE QUESTIONS
21(A) 22(D) 23(C) 24(C) 25(B)

26. All procurement opportunities over _______ rupees should be advertised in the newspaper.
(A) 0.5 million
(B) 1.5 million
(C) 1.5 million
(D) 2.0 million

27. The procurement opportunities over two million rupees should be advertised in at least _______ newspaper(s).
(A) one
(B) two
(C) three
(D) four

28. The principal method for the procurement of goods, services and works is
(A) open competitive bidding
(B) close competitive bidding
(C) FIFO
(D) LIFO

29. The bidder with the _______ evaluated bid shall be awarded the procurement contract.
(A) highest
(B) lowest
(C) average
(D) zero variance

30. Where needed the procuring agency shall require the successful bidder to furnish a performance guarantee which shall not exceed _______ of the contract amount.
(A) 5%
(B) 7.5%
(C) 10%
(D) 12.5%

ANSWERS: PUBLIC PROCUREMENT RULES
26(D) 27(B) 28(A) 29(B) 30(C)

31. The bids for procurement opportunities shall be submitted in a/an _______ package or packages.
(A) open
(B) sealed
(C) transparent
(D) none of these

32. Where the procuring agency require the bidders to furnish a bid security, the bid security should not exceed _______ of the bid price.
(A) 5.0%
(B) 7.5%
(C) 10.0%
(D) 12.5%

33. All bids shall be opened
(A) randomly
(B) privately
(C) secretly
(D) publicly

34. There are _____ procedures of open competitive bidding.
(A) 2
(B) 3
(C) 4
(D) 5

35. The main open competitive bidding procedure is
(A) single stage one envelope bidding
(B) single stage two envelope procedure
(C) two stage bidding procedure
(D) two stage two envelope bidding procedure

ANSWERS: PUBLIC PROCUREMENT RULES MCQS
31(B) 32(A) 33(D) 34(C) 35(A)

36. Where alternative technical proposals are possible, the bidding process used is
(A) single stage one envelope procedure
(B) single stage two envelope procedure
(C) two stage bidding procedure
(D) two stage two envelope bidding procedure

37. Where the bids are to be evaluated on technical and financial grounds and price is taken into account after technical evaluation, the bidding process used is
(A) single stage one envelope procedure
(B) single stage two envelope procedure
(C) two stage bidding procedure
(D) two stage two envelope bidding procedure

38. In large and complex contracts where technically unequal proposals are likely to be encountered, or there are two or more equally acceptable technical solutions available to the procuring agency, the bidding process used is
(A) single stage one envelope procedure
(B) single stage two envelope procedure
(C) two stage bidding procedure
(D) two stage two envelope bidding procedure

39. Any bidder feeling aggrieved by any act of the procuring agency may lodge a written complaint concerning his grievances not later than _______ days after the announcement of the bid evaluation report.
(A) 7
(B) 10
(C) 15
(D) 30

40. The committee shall investigate and decide upon the complaint within _______ days of the receipt of the complaint.
(A) 15
(B) 30
(C) 45
(D) 60

ANSWERS: PUBLIC PROCUREMENT
36(D) 37(B) 38(C) 39(C) 40(A)

Criminology Past MCQs Papers CSS

Criminology Past MCQs Papers CSS

FEDERAL PUBLIC SERVICE COMMISSION COMPETITIVE EXAMINATION-2017

FOR RECRUITMENT TO POSTS IN BS-17 UNDER THE FEDERAL GOVERNMENT

CRIMINOLOGY

PART-I (MCQS) MAXIMUM MARKS = 20

PART-II MAXIMUM MARKS = 80

PART-II

SECTION-I

No. 2. Write a critical note on the increasing importance of Criminology in Pakistan.

Also discuss the historical development of criminology as a scientific discipline.(20)

No. 3. Enlist the criminological perspectives. Briefly describe the three criminological perspectives on the study of crime and criminal behaviour.(20)

SECTION-II

No. 4. Write a comprehensive note on the Juvenile justice system of Pakistan.

Suggest measures for the improvement of Juvenile justice system of Pakistan.(20)

No. 5. Write short notes on: (10 each)

(a) Causes of Juvenile delinquency in Pakistan

(b) Probation and Parole

SECTION-III

No. 6. Write a comprehensive note on the principles of criminal investigation.

Illustrate with examples from Pakistan.(20)

No. 7. Elaborate importance of legal and ethical guidelines for the criminal

investigation of gender based crimes. Support your answer with example from

Pakistani society.(20)

SECTION-IV

No. 8. Write a critical note on the role of law enforcement agencies in the control of

terrorism in Pakistan. Suggest measures to minimize radicalization in Pakistan.(20)

No. 9. Write notes on: (10 each)

(a) Money-laundering in Pakistan

(b) Gender and Crime

CSS MCQS Past Papers Comparative Study of Major Religions

FEDERAL PUBLIC SERVICE COMMISSION COMPETITIVE EXAMINATION – 2017

FOR RECRUITMENT TO POSTS IN BS-17 UNDER THE FEDERAL GOVERNMENT

COMPARATIVE STUDY OF MAJOR RELIGIONS

(FOR NON MUSLIMS)

TIME ALLOWED: THREE HOURS

PART-I(MCQS): MAXIMUM 30 MINUTES

PART-I (MCQS) MAXIMUM MARKS = 20

PART-II MAXIMUM MARKS = 80

NOTE: (i) Part-II is to be attempted on the separate Answer Book.

(ii) Attempt FOUR questions from PART-II. ALL questions carry EQUAL marks.

(iii) All the parts (if any) of each Question must be attempted at one place instead of at different

places.

(iv) Candidate must write Q. No. in the Answer Book in accordance with Q. No. in the Q.Paper.

(v) No Page/Space be left blank between the answers. All the blank pages of Answer Book must

be crossed.

(vi) Extra attempt of any question or any part of the attempted question will not be considered.

PART-II

No. 2. Write a comprehensive note on Hindu Puranas, types and numbers. Explain its

importance in Hindu literature.(20)

No. 3. Write a comprehensive note on basic teachings of Judaism in the light of basic

principles of Jewish Philosopher Memonides.(20)

No. 4. Islam educates tolerance for other religions. Explain in the light of Quran and Sunnah and biography of Prophet Muhammad (PBUH).(20)

No. 5. Which ethical system presented Buddha to his followers? Write a comprehensive

contemporary situation of Buddism.(20)

No. 6. Why Zoinism movement came into being? Write a brief note on its history and explain the concepts of Jewish sect “Reform Judaism”.(20)

No. 7. Write an introductory note on Catholic and Protestant. Also compare their concepts and beliefs.(20)

No. 8. Write a detailed note on golden age of Hazrat Umar (R.A) and also explain how

reforms of Hazrat Umar (R.A) can be beneficial in current age? (20)