اے ہمارے رب ! ہمیں ہدایت دینے کے بعد ہمارے دل ٹیڑھے نہ کر نا اور ہمیں اپنے پاس سے رحمت عطا فرما، یقیناً تو ہی بہت بڑی عطا دینے والا ہے (سورہ العمران آیت نمبر 8)

اے ہمارے رب ! ہمیں ہدایت دینے کے بعد ہمارے دل ٹیڑھے نہ کر نا اور ہمیں اپنے پاس سے رحمت عطا فرما، یقیناً تو ہی بہت بڑی عطا دینے والا ہے (سورہ العمران آیت نمبر 8)

August 28, 2021

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Goodwill should be classified as a:

  • Intangible Asset
  • Liquid Asset
  • Floating Asset
  • Current Asset
  • a

  • Intangible Asset is an asset which have not physical presence.

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Which of the following business would be most likely use process costing?

  • An auto repair shop
  • A macron frozen orange juice
  • A Hospital
  • A law firm
  • b
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Which of the following usually is least important as a measure of short term liquidity:

  • Debt Ratio
  • Current Ratio
  • Cash flow from operating activities
  • Quick Ratio
  • c
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Which of the following accounts would never appear in the after closing trial balance?

  • Dividends
  • Accumulated Depreciation
  • Income Tax Expense
  • Both A & C
  • d
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Debentures are a company’s:

  • Asset
  • Liability
  • Expense
  • Investment
  • b
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An example of the financial activities in the context of cash flow statement is:

  • Dividend Paid
  • Financial Charges Paid
  • Long Term Deposit
  • Fixed Capital Expenditure
  • a
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If the profit is 1/4th of the sale then it is:

  • 1/4 of the cost price
  • 1/3 of the cost price
  • 1/5 of the cost price
  • 1/6 of the cost price
  • b
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A large organization with separate legal status is known as:

  • Partnership
  • Limited Company
  • Sole Proprietorship
  • None of these
  • b
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When counting cash on hand the auditor should be:

  • Ensure presence of somebody from management
  • Ensure postage and revenue , stamps are not counted in physical count.
  • obtained a receipt from a custodian as to its return
  • Temporary advances to employees are counted to calculate balance of cash in
  • b

  • Cash on hand should be verify with the physical cash which is available in the Organization.

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In order to vouch which of the expense, the auditor will examine bill of entry?

  • Excise Duty
  • Custom
  • Sales Tax
  • Income Tax
  • b

  • The Custom Duty is a type of tax that imposed on Import and Export.

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