All205Business & Commercial Knowledge60Business Economics & Commercial Knowledge vol.255Fundamentals of Accounting50Quantitative Aptitude & Business Economics40

Q1Business & Commercial Knowledge

Departmental manager of each business function is responsible for the department's

AOperational plansBTactical plansCTask efficienciesDAll of the above

Q2Business Economics & Commercial Knowledge vol.2

While inflation has its disadvantages, it also has the advantage of redistributing wealth from rich to poor.

ATrueBFalseCD

Q3Fundamentals of Accounting

Jamal Sons: purchase 150k + attributed cost 25k capitalized 1 Mar 2022. Residual 10k, life 5 years. Refundable tax 12k wrongly capitalised. Dep SLM full year 31 Dec 2022. Net assets understated by?

ARs. 7,500BRs. 2,400CRs. 2,000DRs. 3,100

Q4Business & Commercial Knowledge

A code of conduct outlines:_____

AExpected behaviourBParty rulesCDress onlyDOffice paint colours

Q5Business & Commercial Knowledge

Selection tests usually focus on:

ACognitive abilityBMotivation potentialCKnowledge & skillsDAll of the above

Q6Business & Commercial Knowledge

Health insurance contributes to:

AEmployee retention and well-beingBOnly tax savingsCMarketing expensesDProduct pricing

Q7Business & Commercial Knowledge

Working capital means:

ATotal assets − equityBCurrent assets − current liabilitiesCNon-current assets − liabilitiesDDebt − equity

Q8Business & Commercial Knowledge

Recognition and feedback help in:

AReducing employee motivationBAppreciating efforts and addressing obstaclesCMarketing the companyDPayroll calculation

Q9Business & Commercial Knowledge

Brand image is shaped by:

ACustomer perception of the brandBOnly pricingCProduction methodsDRaw materials

Q10Business & Commercial Knowledge

Limited companies have:

ASeparate legal identityBNo legal identityCShared identity with ownersDTemporary identity

Q11Business & Commercial Knowledge

Being a marketing manager, you conducted interviews to determine whether more personnel are needed. This is an example of:

ARecruitmentBSelectionCJob designDJob analysis

Q12Business & Commercial Knowledge

Saad operates a coffee house as a sole proprietor. He is working as:

ABusiness ownerBBusiness managerCBusiness employeeDAll of the above

Q13Business & Commercial Knowledge

One of the common thing in leases is the lessee can terminate both the operating & finance lease even at the short notice.

ATrueBFalseCD

Q14Quantitative Aptitude & Business Economics

Dividend Rs.2/share in Q1, decreases 10% per quarter. Dividend in last quarter (Q4) of financial year:

ARs.1.46BRs.1.62CRs.1.5DRs.1.7

Q15Fundamentals of Accounting

Which statement(s) is/are correct?

ADoubtful debts example: customer delaying payment due to financial difficultiesBEntry for doubtful debt: Dr. Bad debts; Cr. ReceivablesCAllowance against doubtful debts recognized as expenseDEntry for increase: Dr. Allowance; Cr. Bad debts

Q16Fundamentals of Accounting

Minhas identified Rs.1000 rental income receivable. Rental income received and recorded Rs.11000. What is correct entry to record accrued income?

ADr Rental income Rs.1000 Cr Accrued income Rs.1000BDr Cash Rs.12000 Cr Rental income Rs.12000CDr Cash Rs.11000 Cr Rental income Rs.11000DDr Accrued income Rs.1000 Cr Rental income Rs.1000

Q17Business Economics & Commercial Knowledge vol.2

Economics studies individuals and organizations in society engaged in the _______________ the:

AProduction of goods and servicesBDistribution of goods and servicesCConsumption of goods and servicesDAll of the above

Q18Fundamentals of Accounting

Cash account Rs. 1,660,000 Dr (unadjusted). Adjustments: Debit undercast Rs. 200,000, Receipts brought forward Rs. 4,275,000 instead of Rs. 2,475,000 (error 1,800,000), Cheque bounced Rs. 220,000, Bank charges Rs. 184,000, Unpresented Rs. 520,000, Uncleared Rs. 626,000. Corrected cash book for SOFP?

ARs. 344,000 in current assetsBRs. 344,000 in current liabilitiesCRs. 970,000 in current assetsDRs. 970,000 in current liabilities

Q19Business Economics & Commercial Knowledge vol.2

Which one of the following items is not included in the calculation of Gross National Product at factor cost?

AThe cost of building new government officesBTax on consumptionCDividends received from shares in a company abroadDImputed rent of owner-occupied houses

Q20Fundamentals of Accounting

Sultan traders deals in electric fans. Owner took one fan for home. Which account will be debited?

AFans accountBPurchases accountCSales accountDDrawings account

Q21Business Economics & Commercial Knowledge vol.2

Continuous or persistent rise in general price level due to devaluation of currency is known as:

AImport Cost Push inflationBMonetary InflationCExpansional InflationDDemand Pull Inflation

Q22Business & Commercial Knowledge

On-the-job training occurs _____.

AIn classroomsBAt the actual work environmentCAt homeDDuring vacations

Q23Business & Commercial Knowledge

Finance lease is an example of:

AShort-term financeBLong-term financeCInterest-free loanDNo-cost finance

Q24Fundamentals of Accounting

Which of the following are component of financial statements?

AStatement of financial positionBBank reconciliation statementCStatement of comprehensive incomeDStatement of cash flows

Q25Business & Commercial Knowledge

The span of control is wide, and the shape of the organization structure is flat, because of the small number of management levels. This statement is true for:

AWide-flat structureBTall-narrow structureCTall-flat structureDWide-short structure

Q26Fundamentals of Accounting

Which of the following documents serves as a notice to the customer to inform them that the goods have been dispatched?

AQuotationBSales order / order confirmationCGoods dispatched noteDDelivery note

Q27Business & Commercial Knowledge

A listed company on stock exchange must comply with:

AFew regulationsBStringent regulationsCNo regulationsDOnly tax regulations

Q28Business & Commercial Knowledge

TRUE OR FALSE: A stakeholder is anyone who has any type of stake in a business, while a shareholder is someone who owns shares (stock) in a business and thereby has an equity interest.

ATRUEBFALSECMore information is needed to answerDNone of the above

Q29Fundamentals of Accounting

NLTL purchased van for Rs. 5M on 1 Feb 2022. Paid Rs. 2.2M same date, remaining in two equal installments on 31 March and 30 April 2022. What entry on 31 March 2022?

AAdvance Motors account Debit Rs. 1.4M; Bank account Credit Rs. 1.4MBVan account Debit Rs. 5M; Bank account Credit Rs. 5MCAdvanced Motors Debit Rs. 1.4M; Van account Credit Rs. 1.4MDVan account Debit Rs. 1.4M; Advanced Motors Credit 1.4M

Q30Fundamentals of Accounting

Journal entry to record bad debts written off:

ADr. Bad debts and Cr. Allowance for doubtful debtsBDr. Bad debts and Cr. Accounts receivablesCDr. Allowance for doubtful debts and Cr. Bad debtsDDr. Accounts receivables and Cr. Bad debts

Q31Business & Commercial Knowledge

A job specification includes:_____

ACompany goalsBQualifications and skills neededCCompetitor analysisDProduct details

Q32Business & Commercial Knowledge

Cooperative values emphasize:

AProfit maximizationBMember welfareCGovernment controlDForeign investment

Q33Business & Commercial Knowledge

A proper governance process must be put in place to achieve key goals and objectives of an organization through ethical decision-making, and:

ALegal compliancesBCorporate responsibilityCHuman rightsDMarket values

Q34Business & Commercial Knowledge

Clubs and societies measure:

AProfit or lossBSurplus or deficitCAsset growth onlyDLiability reduction only

Q35Business Economics & Commercial Knowledge vol.2

A change in disposable income causes an equal change in consumption.

ATrueBFalseCD

Q36Business Economics & Commercial Knowledge vol.2

A situation in which labour force searching for job is unable to do so is known as:

AUnemploymentBRecessionCStagflationDNone of the above

Q37Business & Commercial Knowledge

Companies Act regulates:

AOnly partnershipsBOnly sole proprietorshipsCCompaniesDOnly NGOs

Q38Fundamentals of Accounting

Which is/are capital expenditure?

ARepairs of vehicleBReplacement of engine of vehicleCPurchase of machine for productionDAnnual insurance premium on machine

Q39Business Economics & Commercial Knowledge vol.2

Rise in discount rate by 10%, the inflation will:

AIncreaseBDecreaseCIncrease by 10%DDecrease by 10%

Q40Business Economics & Commercial Knowledge vol.2

Which of the following is a central bank least likely to be responsible for?

AFixing the general level of interest ratesBRegulating the banking industryCDetermining the public sector borrowing requirementDMaintaining national reserves of foreign currency

Q41Fundamentals of Accounting

Receivables 475k, specific: AM 25k (80%), JM 18k (50%), general 5%. Correct calculation of general allowance?

A5% on Rs. 475kB5% on Rs. 455.3kC5% on Rs. 446kD5% on Rs. 432k

Q42Fundamentals of Accounting

The following information relates to Nina Beauty Parlour in the year ended 30 September 2022. Opening inventory Rs. 71,000; Closing inventory Rs. 85,000; Purchases, net of returns Rs. 228,000; Purchase return Rs. 5,000; Drawings of inventory Rs. 10,000 (no adjustment made yet); Gross profit margin 20%. The amount of net sales for the year ended 30 September 2022 was:

ARs. 273,750BRs. 248,750CRs. 255,000DRs. 261,250

Q43Fundamentals of Accounting

Balance of cash book of Irha Stores was Rs. 110,180 as at 30 November 2022. The unpresented cheques and uncredited cheques were Rs. 15,200 and 16,800 respectively. Receipt of Rs. 800 was recorded on payment side of cash book. Which of the following statement is correct?

ABalance of bank statement showed Rs. 110,180 favourable balanceBAs balance of bank statement reconciled with cash book balance, therefore, no need to prepare bank reconciliation statementCBalance of bank statement showed Rs. 110,180 overdraft balanceDBalance of bank statement did not reconcile with cash book balance

Q44Business & Commercial Knowledge

Senior-level managers make:

AShort-term decisionsBStructured decisionsCStrategic decisionsDEmployee-level decisions

Q45Business Economics & Commercial Knowledge vol.2

If all the commercial banks in a national economy operated on cash reserve ratio of 20%. How much cash would have to be deposited with the banks for the money supply to increase by Rs.300 million?

ARs.60 millionBRs.75 millionCRs.225 millionDRs.240 million

Q46Quantitative Aptitude & Business Economics

22 defective shirts per 4000. Lot of 300 shirts. P(more than 3 defective shirts):

A0.086B0.68C0.881D0.912

Q47Business Economics & Commercial Knowledge vol.2

Which one is not a factor of production?

ALandBAirCCapitalDLabour

Q48Business & Commercial Knowledge

Device which facilitates the introduction of data and information into the system.

AScannerBPrinterCProjectorDLCD

Q49Fundamentals of Accounting

Which statements true per IAS-2? a)Adjustable sales tax excluded b)Storage of finished goods excluded c)Storage of raw materials for production included

Aa onlyBb onlyCa and bDa, b and c

Q50Quantitative Aptitude & Business Economics

The ____ in a linear programming problem can be drawn as straight lines on a graph representing a boundary of what is feasible:

AObjective functionBConstraintsCProfit maximisationDCost minimisation

Q51Quantitative Aptitude & Business Economics

A person borrows Rs. 30,000 at 10% per annum simple interest for a period of 3 years. Calculate the total amount he will have to repay at the end of 3rd year.

ARs. 39,000BRs. 30,000CRs. 36,000DRs. 34,000

Q52Business & Commercial Knowledge

A mission statement focuses on:

APresent operationsBFuture goalsCPast achievementsDEmployee benefits

Q53Business Economics & Commercial Knowledge vol.2

Short selling and non-asset backed derivatives are not permitted in Islam.

ATrueBFalseCD

Q54Fundamentals of Accounting

Statements: 1.Year-end review of useful life/residual value, if material change accounted as change in estimate 2.Depreciation method cannot be changed (consistency principle). Which correct?

ABoth correctBOnly statement (1)COnly statement (2)DBoth incorrect

Q55Fundamentals of Accounting

Which of the following is NOT recorded in calculating adjusted bank book balance?

AUncredited chequesBBank chargesCDividend receivedDOnline deposit by customer

Q56Business Economics & Commercial Knowledge vol.2

A budget deficit causes ___________ government debt.

AIncrease inBDecrease inCHas no effect onDEliminates

Q57Fundamentals of Accounting

Which of the following document is prepared by the business's store keeper on receiving goods in store?

AGoods dispatched noteBGoods received noteCRemittance adviceDDebit note

Q58Fundamentals of Accounting

Total of discount received column as recorded in Cash Book is posted to:

Adebit side of individual suppliers' account in Payables LedgerBdebit side of relevant account in General LedgerCcredit side of individual suppliers' account in Payables LedgerDcredit side of discount received account or Purchases account in General Ledger

Q59Quantitative Aptitude & Business Economics

Which of the following statements is/are correct? i. Graph of a quadratic function will always intersect 𝑥-axis. ii. Graph of a quadratic function may intersect 𝑥-axis. iii. Graph of a quadratic function will always have two x-intercepts. iv. Graph of a quadratic function will never have two 𝑥-intercepts.

AiBiiCivDiii and iv

Q60Business & Commercial Knowledge

A product needs to be relevant, meaning:

AIt must be low-pricedBUsers must have an immediate need and good qualityCIt must be digital onlyDIt should not adapt to trends

Q61Business & Commercial Knowledge

Any business can create a ___________ by the effective use of Information Technology (IT). This may be achieved through _____________ business processes (for instance; purchasing, selling, human resource), and obtaining information for optimal decision-making, which result in substantial operational and cost benefits.

ACompetitive advantage, efficientBProfit, smartCProduct, raw materialDEfficient; competitive advantage

Q62Business Economics & Commercial Knowledge vol.2

Which of the following actions by the government would be most likely to increase aggregate monetary demand?

Alower wage levels in domestic industriesBHigher consumer spendingCHigher import pricesDNone of these

Q63Quantitative Aptitude & Business Economics

The percentage of measurements of a normal random variable falling within the interval mu±2sigma is:

AAt least 75%B95.44%C99.74%DNone of these

Q64Quantitative Aptitude & Business Economics

Which of the following is an example of discrete data?

AHeight of treesBWeight of bagsCLength of tablesDNumber of students

Q65Business Economics & Commercial Knowledge vol.2

Which of the following goods have demand curves that do not slope downwards from left to right?

AGiffen goodBDisplay good on outletCA good for which demand is perfectly inelasticDAll of the above

Q66Business Economics & Commercial Knowledge vol.2

Out of the following, which is the most important source of revenue to the state?

AImport tariffBService taxCWealth taxDSales tax

Q67Quantitative Aptitude & Business Economics

A bank charges mark-up at Rs.0.39 per day per Rs.1,000. Rate of mark-up as percent per annum (365 days) is:

A14.4%B14.004%C14.24%D14.0004%

Q68Business & Commercial Knowledge

Span of control affects:

AOrganizational shapeBOnly employee numbersCOnly costsDOnly profits

Q69Quantitative Aptitude & Business Economics

For y=ax^2+bx+c, if a=b=c the quadratic equation will have:

ATwo distinct rootsBOnly one real rootCNo real rootsDNone of the above

Q70Fundamentals of Accounting

Accounting Period Concept implies:

APreparing financial reports anytimeBPreparing reports for a specific time frameCIgnoring reporting periodsDReporting only when convenient

Q71Fundamentals of Accounting

The purchases account is part of:

AGeneral ledgerBSales ledgerCPurchases ledgerDPayables ledger

Q72Business & Commercial Knowledge

Jamshaid is known for his support to all in office. He is always there to guide anyone, especially newcomers in developing professional expertise and how to use social skills. He is acting as

AMentorBSupervisorCTrainerDNone of the above

Q73Business & Commercial Knowledge

HR manager analyzing candidates based on skills & past success should use:

ACompany databasesBData analytics softwareCDatabase management systemsDData warehouses

Q74Quantitative Aptitude & Business Economics

. Mr. Asim has following investment options: i. Invest in Bank A at 12% per annum compounded quarterly ii. Invest in Bank B at 10% per annum compounded semi-annually iii. Invest in Bank C at 8% per annum compounded monthly iv. Invest in Bank D at 15% per annum. Which of the above options must he opt

ABank ABBank BCBank CDBank D

Q75Business Economics & Commercial Knowledge vol.2

The development of money as a medium of exchange has facilitated the expansion of trade because

Aholding money increases people's wealth.Bholding money increases people's income.Cmoney eliminates the "double coincidence of wants" problem.Dno other mediums of exchange are available.

Q76Business & Commercial Knowledge

Ethically speaking, a car dealer can sell a car without disclosing that there was an accident as far as the car was repaired and tested by a reputed mechanic. TRUE or FALSE?

ATRUEBFALSECD

Q77Business & Commercial Knowledge

S Airline is giving all its employees concession on travel tickets it is part of

AEconomic benefitsBInsuranceCBonusDLong term benefits

Q78Business Economics & Commercial Knowledge vol.2

System of note issue by central bank in which 100% gold requirement is mandatory:

AProportionate reserve systemBFixed fiduciary systemCDeficit financingDNone of the above

Q79Business Economics & Commercial Knowledge vol.2

Complements are goods that tend to be bought and used instead of one another.

ATrueBFalseCD

Q80Quantitative Aptitude & Business Economics

A class of 20 students has mean marks 25. Of these 18 boys have mean marks 20. Total marks scored by the two girls is:

A140B70C150D18

Q81Business Economics & Commercial Knowledge vol.2

Slope of total cost = slope of total revenue is enough condition for profit maximization for a firm.

ATrueBFalseCD

Q82Business & Commercial Knowledge

Database records may include:

ACustomer contact detailsBWeather forecast onlyCTV scheduleDCinema performance

Q83Business Economics & Commercial Knowledge vol.2

. Demand for money moving from MD1 to MD3 is

ARise in demandBFall in demandCExtension in demandDContrition in demand

Q84Business & Commercial Knowledge

Top hotels chains reflect employee's role in

AVisionBMissionCD

Q85Fundamentals of Accounting

Receivables 360k, 5% allowance, charged 6.3k. Later found: recovered 5.5k wrongly in collections, disc allowed 3.5k on debit side of receivables. Impact on charge?

ACharge overstated by Rs. 75BCharge understated by Rs. 75CCharge overstated by Rs. 100DCharge understated by Rs. 100

Q86Quantitative Aptitude & Business Economics

A variable that assumes the numerical values associated with events of an experiment is called:

AParameterBStatisticCRandom variableDNone of these

Q87Business Economics & Commercial Knowledge vol.2

In a market economy, the allocation of resources between different productive activities is determined mainly by the:

ADecisions of the governmentBWealth of entrepreneursCPattern of consumer expenditureDSupply of factors of production

Q88Fundamentals of Accounting

The capital of Nisar & Co. as at 1 January 2022 was Rs. 2,452,000. During the year ended 31 December 2022, Nisar & Co. earned gross profit of Rs. 785,600; operating profit of Rs. 485,500 and net profit of Rs. 341,500. The drawing for the year ended 31 December 2022 was Rs. 200,000 in cash and Rs. 25,000 in goods. The capital of Nisar & Co. as at 31 December 2022 was:

ARs. 3,037,600BRs. 2,712,500CRs. 2,593,500DRs. 2,568,500

Q89Business Economics & Commercial Knowledge vol.2

The government of a certain country decides to introduce an election tax, which will involve a flat levy of Rs.500 on every adult member of the population. This new tax could be described as:

ARegressiveBProportionalCProgressiveDAd valorem

Q90Business Economics & Commercial Knowledge vol.2

Most important determinant of consumption function is:

ARate of interestBDistribution of wealthCReal incomeDFurther expectation

Q91Business & Commercial Knowledge

Corporations are often required to raise external funding, or capital. Which of the following may NOT be reasons for requirement of additional funding?

ATo expand their businesses into new markets or locationsBTo invest in research & developmentCTo handle legal disputesDTo spend on competitive market campaigns

Q92Quantitative Aptitude & Business Economics

An endowment fund is likely to generate Rs.20,000 per year indefinitely. How much can be invested today when rate of interest is 9%?

ARs.18,348BRs.222,222CRs.180,000DRs.218,000

Q93Business Economics & Commercial Knowledge vol.2

Main tools of fiscal policy are:

AChanges in government revenueBChanges in government expenditureCPublic sector borrowingDAll of the above

Q94Business Economics & Commercial Knowledge vol.2

Higher the reserve requirement:

ASlower the process of credit creationBFaster the process of credit creationCWill stop the process of credit creationDIncrease the rate of inflation

Q95Quantitative Aptitude & Business Economics

Given b = 1.452 and d = -0.235, calculate r.

A0.584B−0.584C0.854DImpossible case

Q96Business & Commercial Knowledge

Corporations pay tax for the sake of regulations as they are incorporated, and it is mandatory for the corporations to follow tax laws. Which of the following statement is true concerning taxation of a company:

ATaxes are deducted on fixed rateBTaxes are part of revenueCTaxes are calculated from salesDTaxes are paid from personal accounts of owners

Q97Business & Commercial Knowledge

Universities aim at students who seek higher education using __________ segmentation.

AGeographicBDemographicCLifestyleDBehavioral

Q98Business & Commercial Knowledge

ERP systems provide:

ADepartment-specific data onlyBReal-time view of core processesCEntertainment featuresDOnly HR support

Q99Business & Commercial Knowledge

Human resources are considered:

AOnly physical laborBOne of the four traditional factors of productionCOnly managerial staffDOnly financial contributors

Q100Quantitative Aptitude & Business Economics

AC = 0.02x² + 60x. Find percentage change in average cost when units increase from 2 to 3:

AIncrease of 45%BDecrease of 50%CIncrease of 50%DDecrease of 45%

Q101Business & Commercial Knowledge

Environmental legislation affects:

AOnly large companiesBOnly manufacturing businessesCVarious industriesDOnly service businesses

Q102Fundamentals of Accounting

Cash sale Rs. 400,000 posted as: Sales (Dr) 400,000, Cash (Cr) 400,000. What is correcting entry?

ASales (debit) = Rs. 800,000 and Cash (credit) = Rs. 800,000BCash (debit) = Rs. 400,000 and Sales (credit) = Rs. 400,000CCash (debit) = Rs. 600,000 and Sales (credit) = Rs. 600,000DCash (debit) = Rs. 800,000 and Sales (credit) = Rs. 800,000

Q103Fundamentals of Accounting

Business started 1 Jan 2008 in building on 25 year lease. Rent payable quarterly in advance. Five payments of Rs.7500 made during year. Rent expense for year ended 31 Dec 2008?

ARs. 22500BRs. 30000CRs. 32500DRs. 37500

Q104Business Economics & Commercial Knowledge vol.2

When a central bank purchases government securities, this will tend to:

AReduce the demand for moneyBReduce the money supplyCIncrease the money supplyDIncrease the demand for money

Q105Business Economics & Commercial Knowledge vol.2

Which of the following measures has NOT been recommended by Friedman and like-minded monetarist economists as a means of reducing the natural rate of unemployment to a lower level?

AMeasures to stimulate consumer demand for more goodsBSchemes to retrain workers in new job skillsCMeasures to cut trade union powerDRestructuring the income tax system

Q106Business Economics & Commercial Knowledge vol.2

Which of the following actions by the government would be most likely to increase aggregate monetary demand?

AReductions in subsidies on food, offset by a reduction in taxationBA rise in the State Bank of Pakistan's short term interest rate (for open market operations)CIncreased value added tax on a wide range of goodsDInsisting that public corporations should break even

Q107Business & Commercial Knowledge

Most of integrated software suites in market are off-the-shelf solutions

ATrueBFalseCD

Q108Business Economics & Commercial Knowledge vol.2

Market rate of interest is determined by:

ACentral bankBCommercial bankCDemand & supply of moneyDInflation

Q109Business Economics & Commercial Knowledge vol.2

Macroeconomics is not concerned with.

AThe level of output of goods and services.BThe general level of pricesCThe growth of incomeDLabour productivity

Q110Business Economics & Commercial Knowledge vol.2

During a given period of time if terms of trade(tot) is 112, it is said:

ATot has declined by 12%BTot has improved by 12%CDepreciated by 2%DAppreciated by 2%

Q111Business & Commercial Knowledge

Job rotation is a type of:

AOff-the-job trainingBOn-the-job trainingCRecruitment processDPerformance appraisal

Q112Quantitative Aptitude & Business Economics

Equipment costing $60,000 depreciates straight-line over 10 years with salvage value of $10,000. What is the book value after 4 years?

A$36,000B$40,000C$46,000D$50,000

Q113Business Economics & Commercial Knowledge vol.2

The government introduces a maximum price below the equilibrium price level. What effect will this have on market?

ASurplusBShortageCNo changeDNone of above

Q114Business Economics & Commercial Knowledge vol.2

Unemployment always puts pressure on wages to fall.

ATrueBFalseCD

Q115Quantitative Aptitude & Business Economics

Product X: 4 hrs dept A, 7 hrs dept B. Product Y: 5 hrs dept A, 8 hrs dept B. Capacities: A=1120 hrs, B=1400 hrs. Constraints:

A4x+5y ≤ 1120 and 7x+8y ≤ 1400B4x+7y ≤ 14000 and 5x+8y ≤ 1120C7x+5y ≤ 1400 and 8x+4y ≤ 1120D7x+8y ≤ 1120 and 4x+5y ≤ 1400

Q116Fundamentals of Accounting

The extract of trial balance of Jamal Sons as at 30 June 2022 was given below. Accounts receivables 700,000 (Dr); Allowance for doubtful debts 1 July 2021 22,500 (Cr). Which of the following statement is correct in relation to adjustment of allowance for doubtful debts, assuming Jamal sons estimate that allowance for doubtful debts should be at 5% of accounts receivables.

ACharge Rs. 35,000 as expense in statement of profit and loss and show net receivable of Rs. 665,000 in statement of financial positionBCharge Rs. 12,500 as expense in statement of profit and loss and show net receivable of Rs. 665,000 in statement of financial positionCCharge Rs. 12,500 as expense in statement of profit and loss and show net receivable of Rs. 687,500 in statement of financial positionDCharge Rs. 35,000 as expense in statement of profit and loss and show net receivable of Rs. 687,500 in statement of financial position

Q117Quantitative Aptitude & Business Economics

What will be the effective annual rate for 12% per annum compounded semi-annually?

A10.36%B11.36%C12.36%D12.76%

Q118Fundamentals of Accounting

A prepayment can be defined as:

APayments for expenses not yet incurred classified as non-current assetBExpenses incurred but not yet paid classified as current assetCPayments for expenses not yet incurred classified as current assetDNone

Q119Business Economics & Commercial Knowledge vol.2

Due to ____________________The production possibility frontier is concave to the origin:

AIn order to produce one good, resources must be diverted from the otherBSome resources are better at producing one good and some resources are good at producing other goodCThere is always some level of unemploymentDAll resources contribute towards production equally

Q120Fundamentals of Accounting

Opening receivables Rs.45000; Credit sales Rs.55000; Cash sales Rs.10000; Cash received Rs.35000; Write off Rs.2000. Allowance 2%. Entry for allowance adjustment?

ADr Bad debts Rs.360 Cr Allowance Rs.360BDr Allowance Rs.360 Cr Bad debts Rs.360CDr Bad debts Rs.360 Cr Receivables Rs.360DDr Receivables Rs.360 Cr Bad debts Rs.360

Q121Quantitative Aptitude & Business Economics

If r = 0.9 and if 3 is added to each observation of y, then r will:

AIncrease by 3 unitsBIncrease by more than 3 unitsCRemain unchangedDNone of these

Q122Quantitative Aptitude & Business Economics

A sum of Rs. 725 is lent at a certain rate of interest. After 8 months, Rs. 362.50 more is lent at twice the former rate. At the end of the year, Rs. 33.50 is earned as interest from both loans. What was the original rate of interest?

A3.6%B4.5%C5%DNone of these

Q123Business & Commercial Knowledge

Working capital is needed for:

APaying interestBPaying wages, bills, stockCPurchasing plantDBuying land

Q124Business & Commercial Knowledge

CEO of T tel receive reports from functional managers that have been compiled after supervisors' feedback. This represents:

ASpan of ControlBChain of CommandCCentralizationDDecentralization

Q125Quantitative Aptitude & Business Economics

Qasim invests equal amounts at end of yr1 and yr2. Needs: Rs.300,000 at end yr3 and Rs.400,000 at end yr4. Discount rate 10%. Required annual investment is:

ARs.287,289BRs.294,289CRs.277,289DRs.267,289

Q126Business & Commercial Knowledge

One of the characteristics of industrial products is that it has:

ADerived demandBDirect demandCLocal demandDForeign demand

Q127Business & Commercial Knowledge

_______________ is integrated with barcode readers and allows credit and debit cards to be read for instant payment for goods.

AMouseBKeyboardCCamDEPOS

Q128Fundamentals of Accounting

In case of import of PPE, which shall NOT be included in cost?

ADemurrage chargesBCustom dutyCExcise duty (non-refundable)DRefundable taxes

Q129Business Economics & Commercial Knowledge vol.2

If the level of real incomes of the population in the Pakistan were to rise, the Pakistan's balance of payments position would worsen because

Athe Pakistan's terms of trade would worsenBexport prices would riseCimport volumes would riseDnone of these

Q130Quantitative Aptitude & Business Economics

Exam mean=74, SD=7. Top 10% get A. If z(0.10)=1.28, the lowest possible A and highest possible B are:

A83 and 82B84 and 83C85 and 84D7 and 81

Q131Business & Commercial Knowledge

Which of the following is a DISADVANTAGE of short term financing?

ALess interest amountBDebt trapCLess documentationDDisbursed quickly

Q132Business & Commercial Knowledge

One customer may use several ATMs in single day and always get updated account information as it is

AOn central DatabaseBOnline systemCCentralised computer systemDAll of the above

Q133Business & Commercial Knowledge

Data analyst at investment bank create various reports based on real time data from clients' banks and stock market trading data. This data is shared with the data analyst through:

AIntranetsBExtranetsCDatabasesDDBMS

Q134Business Economics & Commercial Knowledge vol.2

The income elasticity of demand will only be zero in the case of inferior goods.

ATrueBFalseCD

Q135Fundamentals of Accounting

Prudence Concept dictates:

AOverstating revenues to look goodBIgnoring potential expensesCRecording potential expenses and not overestimating revenuesDMaximizing assets' value in financial statements

Q136Quantitative Aptitude & Business Economics

An amount of Rs.20,000 is due in three months. The present value if it includes simple interest at 8% is:

ARs.19,608.84BRs.19,607.84CRs.18,607.84DRs.19,507.84

Q137Business Economics & Commercial Knowledge vol.2

With increase in direct taxes, the value of output multiplier will:

AIncreaseBDecreaseCUnchangedDOther factors are missing to reply exact.

Q138Business & Commercial Knowledge

Fast food chain operations manager uses statistical reports via:

ALANBDecentralised architecture processingCVPNDDSS

Q139Business Economics & Commercial Knowledge vol.2

Which function is performed by central bank?

ALender of the last resortBExchange controlCClearing agentDAll of the above

Q140Fundamentals of Accounting

Equipment 1: 1 Oct 2020 Rs. 200k, Equipment 2: 1 Feb 2022 Rs. 300k. Both residual 20% of cost, life 10 years. SLM from month of purchase. Accumulated depreciation at 30 Jun 2022?

ARs. 56,000BRs. 52,000CRs. 42,000DRs. 38,000

Q141Fundamentals of Accounting

Favourable bank balance means?

ACredit balance in the cash bookBCredit balance in Bank statementCDebit balance in cash bookDBoth (b) and (c)

Q142Fundamentals of Accounting

After finalizing draft accounts salary payable Rs.9000 was ignored. Salary paid during year Rs.110000. What will be impact of recording salaries payable?

AProfit reduced by Rs.9000BProfit increased by Rs.9000CProfit reduced by Rs.110000DProfit increased by Rs.110000

Q143Quantitative Aptitude & Business Economics

Which constraint will have a feasible region containing coordinate (2,3)?

A10x+5y≤40B10x+5y≤30C10x+5y≤10D10x+5y≤20

Q144Fundamentals of Accounting

Alia's Payable ledger balance 1 Jan Rs.95000 credit. Credit purchases Rs.221000; Cash purchases Rs.85000; Cheques to suppliers Rs.148000 (after Rs.2000 discount); Credit purchases return Rs.8000. Balance on 31 Jan?

ARs. 158000BRs. 160000CRs. 243000DRs. 245000

Q145Fundamentals of Accounting

Opening receivables 300k, closing 360k. Bad debts written off 5k, recovered 2k. General allowance 4%. Amount charged to CI and net receivables in FP?

ACI: 7.4k, FP: 345.6kBCI: 5.4k, FP: 345.6kCCI: 7.4k, FP: 340.6kDCI: 5.4k, FP: 340.6k

Q146Business & Commercial Knowledge

Branding helps a company:

AIncrease sales and differentiate products from competitorsBStore products efficientlyCReduce production costs onlyDAvoid market research

Q147Business & Commercial Knowledge

On-the-job training has the advantage of giving first-hand __________ under actual working conditions.

AKnowledge and experienceBKnowledge and certificationCMotivation and experienceDSupport and motivation

Q148Quantitative Aptitude & Business Economics

A standard normal distribution is one that has mean and variance equal to:

AZero and oneBOne and oneCOne and zeroDNone of these

Q149Business & Commercial Knowledge

Management levels determine:

AResponsibility distributionBOnly salariesCOnly benefitsDOnly promotions

Q150Business Economics & Commercial Knowledge vol.2

Advertising campaign by firms in the industry and an increase in wages to workers in industry, the price and quantity consumed of a particular product change:

AA movement along the demand curve and a shift in the supply curveBA shift in the demand curve and a shift in the supply curveCA movement along the demand curve and a movement along the supply curveDA shift in the demand curve and a movement along the supply curve

Q151Business & Commercial Knowledge

Environmental groups advocate for:

AProfit maximizationBSustainable practicesCCost reductionDRevenue growth

Q152Business Economics & Commercial Knowledge vol.2

Which one is NOT an instrument of 'Fiscal Policy'?

AChange in government expenditureBChange in Bank RateCChange in government revenuesDNone of the above

Q153Quantitative Aptitude & Business Economics

Total profits are maximised when the objective function line is:

ANearest to origin regardless of feasible regionBFurthest from origin and tangent to feasible regionCNearest to origin and tangent to feasible regionDFurthest from origin regardless of feasible region

Q154Fundamentals of Accounting

Draft GP Rs. 850,000, NP Rs. 460,000. Purchase return Rs. 6,700 recorded as sales return. Corrected GP and NP?

AGP Rs. 856,700 & NP Rs. 467,700BGP Rs. 863,400 & NP Rs. 473,400CGP Rs. 843,300 & NP Rs. 453,300DGP Rs. 836,600 & NP Rs. 446,600

Q155Fundamentals of Accounting

Cheque Rs. 192,000 received after 4% discount. Revenue at gross. In cash book: discount column shows 192k, bank column shows discount amount. No separate discount account. What is correcting entry?

ADebit Bank Rs. 192,000 and Credit Sales Rs. 192,000BDebit Bank Rs. 184,000 and Credit Sales Rs. 184,000CDebit Sales Rs. 192,000 and Credit Bank Rs. 192,000DDebit Sales Rs. 184,000 and Credit Bank Rs. 184,000

Q156Business Economics & Commercial Knowledge vol.2

In given diagram movement from point A to E is called

ATrade-offBSaleCPurchaseDloss

Q157Business & Commercial Knowledge

Volunteering without expectations shows:

ASincere responsibilityBHidden motivesCProfit focusDMarketing strategy

Q158Quantitative Aptitude & Business Economics

Interior angles: triangle=180°, quadrilateral=360°, pentagon=540°. Find sum for dodecagon (12 sides):

A1800B1804C1802D1806

Q159Fundamentals of Accounting

Receivables 1 Jan 2018 Rs.70000; Receivables 31 Dec 2018 Rs.25000; Cash received Rs.250000; Discount allowed Rs.4000. No returns or cash sales. At what amount Sales Revenue shall be reported?

ARs. 291000BRs. 250000CRs. 205000DRs. 209000

Q160Fundamentals of Accounting

Sales 750k (20% cash), receivables 60% of credit sales, specific allowance 6k, general 3%. New allowance 1.662× opening. Amount charged to CI?

ARs. 6,620BRs. 16,692CRs. 20,000DCannot be calculated

Q161Fundamentals of Accounting

Which transaction is NOT a capital transaction?

APurchase of property, plant and equipmentBImprovement in PPE enhancing profit earning capacityCAdditions to property, plant and equipmentDRunning and ongoing cost of property, plant and equipment

Q162Quantitative Aptitude & Business Economics

The sum required to earn a monthly interest of Rs.1,200 at 18% per annum simple interest is:

ARs.50,000BRs.60,000CRs.80,000DNone of these

Q163Quantitative Aptitude & Business Economics

Which of the following values of x and y does NOT satisfy the inequality 2x+3y≤6?

A(1,1)B(0,1)C(3,1)D(1,0)

Q164Fundamentals of Accounting

In preparing bank reconciliation statement, following items are causing difference between cash book and bank statement balances. 1. Outdated cheque of Rs. 1,200 not yet reversed. 2. Cheques of Rs. 12,100 were not yet presented for payment. 3. Bank has wrongly credited interest of Rs. 200 to our bank account. 4. Dividend received was not recorded in cash book. 5. Standing order payments debited in bank statement only. Which of these items will require adjustment in cash book?

A1, 2 and 4B1, 2 and 5C1, 3 and 5D1, 4 and 5

Q165Business & Commercial Knowledge

Various pricing strategies are used to get maximum market share this is included in:

AMarketingBSellingCBrandingDDistribution

Q166Business Economics & Commercial Knowledge vol.2

The imposition of which one of the following would not act as a barrier to international trade?

AGSTBTariffsCImport quotasDExchange controls

Q167Business Economics & Commercial Knowledge vol.2

Structural unemployment is best defined as that caused by:

AThe long-term decline of particular industriesBThe trade cycleCInsufficient level of aggregate demandDSeasonal variations in demand for particular goods and services

Q168Quantitative Aptitude & Business Economics

Akhter borrowed Rs. 500,000 from a bank at a simple interest of 1.5% per month for a period of 5 years. Principal is repayable at the end of five years. Which of the following statement is correct?

AHis monthly instalment would be Rs. 15,000BHe would pay Rs. 75,000 per annum in interestCHe would have paid an additional amount of Rs. 450,000 by the end of 5 yearsDBoth (a) and (b)

Q169Business Economics & Commercial Knowledge vol.2

Which of the following products is likely to have the lowest price elasticity of demand?

ASaltBCarsCHousesDApples

Q170Business Economics & Commercial Knowledge vol.2

The system in which the government keeps its hands off economic decisions is called.

AFree market economyBCapitalist economyCLaissez – faire economyDAll of above

Q171Business Economics & Commercial Knowledge vol.2

Income elasticity of demand for inferior goods is always:

APositiveBNegativeCZeroDInfinity

Q172Quantitative Aptitude & Business Economics

From a deck of 52 cards, two cards are drawn in succession. The number of elements the sample space contains is:

A2704B1326C2652DNone of these

Q173Fundamentals of Accounting

An entity has built a new factory incurring various costs totaling Rs. 7,112,000. What will be the total amount capitalised in respect of the factory?

ARs. 6,112,000BRs. 6,950,000CRs. 7,112,000DRs. 7,100,000

Q174Business & Commercial Knowledge

An organizational structure is the formal arrangement within an organization that defines:

AFormally division of tasks and activitiesBHow processes and information would flow within this structureCHow to maximize profitDWhat market competitions is beneficial

Q175Business Economics & Commercial Knowledge vol.2

If wage rate in economy increases what will be effect on price level.

AIncreaseBDecreasesCNo changeDRate of inflation decrease

Q176Business Economics & Commercial Knowledge vol.2

Which one is NOT a determinant of demand for money?

ALevel of real national incomeBThe level of interest ratesCPrice LevelDMarginal Efficiency of Capital

Q177Business Economics & Commercial Knowledge vol.2

If gross output of a country in current year is 5,000 units & price of output in current year is Rs.100 per unit and in base year Rs.50 per unit. Real G.D.P. of the country would be:

A50,0000B100,0000C250,000DNone of the above

Q178Fundamentals of Accounting

A company purchased a machine for Rs.60,000 but mistakenly recorded the cost as Rs.6,000 in the asset account. Depreciation is charged at 10% per year on the cost. What is the impact on profit for the first year due to this error?

AProfit is overstated by Rs. 5,400BProfit is understated by Rs. 5,400CProfit is overstated by Rs. 6,000DProfit is understated by Rs. 6,000

Q179Business & Commercial Knowledge

Established brands are considered vital options for future

ALegal complianceBEthical practicesCBusiness survivalDInvestments

Q180Fundamentals of Accounting

Discount received from each supplier as recorded in Cash Book is posted to:

Adebit side of individual suppliers' account in Payables LedgerBdebit side of relevant account in General LedgerCcredit side of individual suppliers' account in Payables LedgerDcredit side of discount received account in General Ledger

Q181Business Economics & Commercial Knowledge vol.2

Which one cause to deficit in bop?

AImport of primary goods and export of finished goodsBImport of finished goods and export of primary goodsCHigh income elasticity of importDb & c

Q182Business Economics & Commercial Knowledge vol.2

When the price of a good is held below the equilibrium price, the result will be

AExcess supplyBA shortage of the goodCA surplus of the goodDQd = Qs

Q183Business Economics & Commercial Knowledge vol.2

Which one of the following is not a social cost?

AAlcohol-related violenceBCompensation paid by a company to a customerCCrimes caused by unemploymentDStress caused by overwork

Q184Fundamentals of Accounting

Receivables 480k before adjustments. Write off Kashif 8.5k, Rajput 15k with 60% allowance, general 4%, opening allowance 16.8k. Which statement true?

ASpecific 15k, general 18.26kBSpecific 9k, general 18.26kCAmount charged to CI 10.46kDNet receivables 438.24k in FP

Q185Business & Commercial Knowledge

The Institute of Chartered Accountants of Pakistan (ICAP) is a member of the International Federation of Accountants (IFAC). IFAC is a global organization of the accountancy profession comprising more than 175 members and associate organizations in 130 countries and jurisdictions, representing nearly 3 million professional accountants.

AAll Audit firms must register with ICAPBAll Qualified CA must follow ICAP guidelinesCICAP must review CA code of conductDAll of the above

Q186Quantitative Aptitude & Business Economics

If bxy = -0.78 and byx = 0.45, then r is equal to:

A+0.351B−0.351CCannot be determinedDNone of these

Q187Business Economics & Commercial Knowledge vol.2

Which of the following responses is correct? A fall in the rate of interest may directly result in Response 1. A switch to more capital-intensive methods of production 2. A decline in the marginal efficiency of capital 3. higher levels of investment

AResponses 1 and 2 are correctBResponses 1 and 3 are correctCResponses 2 and 3 are correctDResponses 1, 2 and 3 are correct

Q188Fundamentals of Accounting

At 1 Jul 21: receivables 350k, allowance 14k. Bad debts written off 10k, at 30 Jun 22 receivables 400k. Estimate unchanged. Increase in allowance charged to P&L?

ARs. 1,600BRs. 2,000CRs. 11,600DRs. 12,000

Q189Business & Commercial Knowledge

Labor as a factor of production includes:

AHuman effortBOnly moneyCOnly machinesDOnly buildings

Q190Business Economics & Commercial Knowledge vol.2

Let quantity demanded decreases from 30 to 10 as price of the product increases from 200 to 400. Price elasticity of demand would be:

A-2.5B-1.5C-0.5Dzero

Q191Fundamentals of Accounting

Tasweeb Corporation sells three products – Alpha, Beta and Gamma. Alpha: Cost Rs. 10, Selling price Rs. 15, Selling costs Rs. 3, Units 300. Beta: Cost Rs. 13, Selling price Rs. 14, Selling costs Rs. 5, Units 380. Gamma: Cost Rs. 15, Selling price Rs. 14, Selling costs Rs. 2, Units 240. The value of inventory at the end of year should be?

ARs. 8,300BRs. 5,700CRs. 9,300DRs. 6,150

Q192Quantitative Aptitude & Business Economics

The equation x^2 + kx - 18 = 0 is satisfied by x = 2. Then the value of k is:

A-7B5C+-7D7

Q193Quantitative Aptitude & Business Economics

Correlation between car weight and reliability r = 0.30 Correlation between car weight and maintenance cost = 0.7 Which of the following statement is/are true? i. Heavier cars tend to be less reliable ii. Heavier cars tend to cost more to maintain iii. Car weight is related more strongly to reliability than to maintenance cost iv. Both (I) and (ii)

AiBiiCiiiDiv

Q194Business & Commercial Knowledge

Multinational Bank must comply with different financial regulations in each country while maintaining global security standards. Which TWO challenges do they face?

ARegulatory complianceBStandardized global operationsCLegal uniformityDAdaptive policies

Q195Quantitative Aptitude & Business Economics

Given b=1.89, x_bar =5.75 and y̅=11. Calculate a.

A5.75B11C0.1325D0.25

Q196Fundamentals of Accounting

The purchases day book is a book of prime entry:

AFor recording all purchasesBFor recording credit purchasesCIn which cash purchases are first recordedDIn which credit purchases are first recorded

Q197Fundamentals of Accounting

Correction of which error would require entry in suspense account?

AA cheque, Rs. 2,000, paid to Asif had been debited to Arif's accountBA purchase of stationery, Rs. 80, had been debited to the purchases accountCCommission income, Rs. 120, had been debited to a loan interest accountDSalaries account had been undercast by Rs. 300 and the entertainment account had been overcast by Rs. 300

Q198Fundamentals of Accounting

Which document shall be source document to record the purchase?

APurchase requisitionBPurchase invoiceCPurchase orderDGoods receipt note

Q199Quantitative Aptitude & Business Economics

For the following pair of values compute coefficient of determination: (1,3), (4,8), (8,17), (10,18)

A0.9887B0.9775C1.7743D0.5510

Q200Quantitative Aptitude & Business Economics

A company purchases raw material at Rs. 500 per kg (list price) with 10% bulk discount if quantity > 10 kg. Compute total cost if purchase quantity is 13 kg.

ARs. 6,500BRs. 5,850CRs. 7,150DRs. 7,000

Q201Quantitative Aptitude & Business Economics

Zain is thrice as old as his son today. Form an algebraic expression (x = Zain's age, y = son's age):

AX = 3YBY = 3XCXY = 3DX = Y/3

Q202Fundamentals of Accounting

An asset is defined as:

AA resource controlled by an entity which is capable of generating independent cash flows.BA present economic resource controlled by the entity as a result of past events.CA resource owned/controlled by an entity as a result of past events from which future economic benefits are expected.DA resource capable of generating income for the entity.

Q203Quantitative Aptitude & Business Economics

The increase in index from 100 to 113 and a price increase from 0.9 to 1.35 in terms of percentage are:

A13% for bothB50% for bothC13% and 50% respectivelyD50% and 13% respectively

Q204Quantitative Aptitude & Business Economics

If r = 0.8, then the variation in the dependent variable y due to independent variable x is about:

A80%B64%C64% to 80%DNone of these

Q205Business Economics & Commercial Knowledge vol.2

Which defines liquidity demand for money?

AGoldBReal estateCLong term securityDAll of the above