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

Q1Business Economics & Commercial Knowledge vol.2

__________ exists between a customer and a seller, usually in the commercial sector. A purchaser can order a good, receive the good, and then pay for it after a certain period of time.

AAdvancesBTrade creditCBank creditDNone of these

Q2Business & Commercial Knowledge

Sharing board decisions before official announcement violates:

AConfidentialityBIntegrityCObjectivityDProfessional behavior

Q3Business & Commercial Knowledge

What are the key activities of the financial manager?

APreparing the financial plan, which projects revenues, expenditures, and financing needs over a given periodBInvesting the company's funds in projects and securities that provide high returns in relation to their risksCObtaining timely funding for the company's operations and investments and seeking the best balance between debt and equityDa, b, and c

Q4Business & Commercial Knowledge

A key component of the marketing concept is:

AIgnoring customer needsBFocusing on competitor products onlyCUsing marketing data to address customer needsDIncreasing production without market research

Q5Business & Commercial Knowledge

Preferred shareholders can vote in AGM to select, remove and reelect directors

ATrueBFalseCD

Q6Business & Commercial Knowledge

Data analyst receives live bank & market data through:

AIntranetsBExtranetsCDatabasesDDBMS

Q7Business & Commercial Knowledge

Consumer products are purchased for:

AFurther productionBFinal consumption by end consumersCOnly businessesDGovernment use

Q8Business & Commercial Knowledge

Which source does NOT require ownership loss?

AEquity sharesBPreference sharesCDebenturesDBonus shares

Q9Business & Commercial Knowledge

Demographic segmentation includes:

ACompany logosBAge, sex, income, education, social classCTransportation methodsDWarehouse location

Q10Business & Commercial Knowledge

Expert system simulates:

AStudent knowledgeBHuman expert reasoningCRandom choicesDFinancial markets only

Q11Business & Commercial Knowledge

A company should prefer to finance itself in the following order: 1ST RETAIN EARNING, 2ND DEBTS & 3RD EQUITY FINANCING.

ATRUEBFALSECD

Q12Business & Commercial Knowledge

EIS decisions are mostly:

AStructuredBUnstructuredCRoutineDComplaint-based

Q13Business & Commercial Knowledge

The most well-known computer network is:

AIntranetBInternetCLAN onlyDCellular network

Q14Business & Commercial Knowledge

The first step for business owners is to decide on:

AMarketing strategyBType of business organizationCEmployee salariesDProduct pricing

Q15Business & Commercial Knowledge

Divisional organizations are used by:

ASmall businessesBLarge companiesCOnly partnershipsDOnly sole proprietorships

Q16Business & Commercial Knowledge

Ethical leadership influences:

AOrganizational cultureBOnly profitsCOnly costsDOnly revenue

Q17Quantitative Aptitude & Business Economics

Zaid owes Rs.50,000 due in 10 months with no interest. What should Arshad accept now at 8% simple interest p.a.?

ARs.45,875BRs.47,875CRs.46,875DRs.46,575

Q18Quantitative Aptitude & Business Economics

Construct price index using Fisher formula for the following data:

A125.25B124.07C124.66D73.02

Q19Quantitative Aptitude & Business Economics

The discriminant formula is used to determine the nature of roots of a ___ equation:

AStraight lineBQuadraticCCubicDNone of these

Q20Business & Commercial Knowledge

Decentralisation provides competitive advantage with environmental alignment of

AStrategic business unit GoalsBManagers decisionsCProject planningDResource management

Q21Business & Commercial Knowledge

They provide the raw materials, goods, or services that the business needs to operate:

ASuppliersBCreditorsCThe government allows sales on creditDBusiness entities

Q22Business & Commercial Knowledge

Branding originated from:

AModern marketing onlyBOld Norse term meaning "to burn," marking products with symbolsCSelling techniquesDDigital product creation

Q23Business & Commercial Knowledge

Which statement best describes the relationship between risk and profit?

ANo relationshipBInverse relationshipCDirect relationshipDVariable relationship

Q24Quantitative 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

Q25Fundamentals of Accounting

Asset purchased 1 Sep 2021 Rs. 250k, residual 10% of cost, life 20 years. Company uses sum-of-years-digit monthly, but accountant used 10% RBM. Impact on net assets at 30 Jun 2022?

AOverstated by Rs. 3,571BUnderstated by Rs. 3,571COverstated by Rs. 2,976DUnderstated by Rs. 2,976

Q26Business Economics & Commercial Knowledge vol.2

Which one of the following measures would be expected to reduce the level of unemployment?

AAn increase in GST rateBOn job and off job trainingsCBy increasing imports of raw materialDA reduction in investment in the nationalized Industries

Q27Quantitative Aptitude & Business Economics

Which of the following has higher effective annual rate: (i) 9% per annum compounded quarterly (ii) 10% per annum compounded semi-annually (iii) 8% per annum compounded monthly?

AOption # 1BOption # 2COption # 3DAll are same

Q28Quantitative Aptitude & Business Economics

Which TWO will result in a DECREASE in contribution per unit?

ADecrease in number of units soldBDecrease in selling priceCIncrease in variable cost per unitDIncrease in selling price

Q29Business & Commercial Knowledge

S software house has gym at office. This is part of:

AWork life balanceBHealthy work environmentCMental wellbeingDAll of the above

Q30Business Economics & Commercial Knowledge vol.2

Which defines liquidity demand for money?

AGoldBReal estateCLong term securityDAll of the above

Q31Business Economics & Commercial Knowledge vol.2

An inflationary gap in the economy could be closed by an increase in the:

AAccelerator and multiplierBGovernment's budget surplusCAverage propensity to consumeDCountry's export surplus

Q32Quantitative Aptitude & Business Economics

Mean of x is 70 and y = 3x + 10. The mean of y is:

A140B220C150D210

Q33Business & Commercial Knowledge

Which of these is an internal stakeholder?

ACustomerBSupplierCEmployeeDGovernment

Q34Fundamentals of Accounting

Meekal hired property 1 Sep 21, paid 12 months rent Rs. 50k/month advance. Sub-let to Anjum 1 Feb 22, received 8 months rent Rs. 30k/month advance. Amount in FP at 30 Jun 22?

APrepaid expense 100k, unearned income 90kBUnearned income 100k, prepaid expense 90kCPrepaid expense 500k, unearned income 150kDUnearned income 500k, prepaid expense 150k

Q35Quantitative Aptitude & Business Economics

Rs.275,000 savings certificate at 3% per quarter SI. Interest mailed every 3 months. Expected interest every 3 months is:

ARs.8,450BRs.8,250CRs.8,150DRs.8,350

Q36Fundamentals of Accounting

Business received Rs.1000 from receivable previously written off. Correct accounting entry?

ADr Cash 1000 Cr Bad debts expense 1000BDr Cash 1000 Cr Receivables 1000CDr P&L 1000 Cr Receivables 1000DDr P&L Cr Cash 1000

Q37Business & Commercial Knowledge

A transaction between two parties where the buyer receives goods (tangible or intangible), services and/or assets in exchange for money.

AMarketingBSalesCPromotionDPlace

Q38Business Economics & Commercial Knowledge vol.2

The supply curve would shift to the left when:

APrice of good goes downBTaxes of government go downCPrices of complements go downDPrices of substitute goods go down

Q39Quantitative Aptitude & Business Economics

Which statement is correct?

A5, 10, 15 are in GPB5, 10, 20 are in GPC5, 50, 55 are in GPD5, 55, 1 are in GP

Q40Business Economics & Commercial Knowledge vol.2

A situation where prevailing interest rates are low and liquidity preferences are high, causing monetary policy to be ineffective is called. (i) Depression (ii) Liquidity trap (iii) Recovery (iv) Boom

A(i) & (ii)B(i) & (iii)C(iii) & (iv)DOnly (ii)

Q41Business Economics & Commercial Knowledge vol.2

Following data has been provided to the Chief Executive Officer of a monopoly firm: Marginal revenue Rs. 10 Marginal cost Rs. 11 Average revenue Rs. 16 Average cost Rs. 12 To maximize profit the firm should:

AReduce price and increase outputBReduce price and reduce outputCIncrease price and increase outputDIncrease price and reduce output

Q42Quantitative Aptitude & Business Economics

If observations are normally distributed, the percentage that differs from mean by more than 1.3 sigma is:

A19.36%B90.32%C9.68%DNone of these

Q43Business & Commercial Knowledge

The term 'redeemable' is used for

ACommercial paperBEquity sharesCPublic depositsDBonds

Q44Quantitative Aptitude & Business Economics

Car travels at 45 km/h for first 3 hours then 65 km/h. Total journey 590 km. Total hours:

A8 hoursB10 hoursC7 hoursD9 hours

Q45Business Economics & Commercial Knowledge vol.2

An increase in quantity demanded caused no change in the equilibrium price. Thus, demand curve must be:

APerfectly inelasticBUnitary elasticCElasticDPerfectly elastic

Q46Fundamentals 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

Q47Business & Commercial Knowledge

Non-current liabilities refer to obligations payable:

AWithin 1 monthBWithin 1 yearCAfter 1 yearDAfter 1 month

Q48Business Economics & Commercial Knowledge vol.2

Complete the sentence below. _______ unemployment is best tackled by supply side measures. Demand management can only affect ______ unemployment.

AStructural; frictionalBFrictional; cyclicalCStructural; cyclicalDCyclical; structural

Q49Fundamentals of Accounting

Which TWO of the following statements are correct?

AA cheque is an agreement of payment between two individuals or organizationsBCheque issued by businessman is treated as receipt in cash bookCOverstatement of bank charges in bank statement represents timing differenceDPay order is issued by the bank on behalf of customer stating an order to pay a specified amount to a specified person

Q50Fundamentals of Accounting

A fast-food outlet pays an accounting student his weekly wage. The transaction will:

AIncrease an asset increase a liabilityBDecrease an asset decrease a liabilityCIncrease an asset increase owner's equityDDecrease an asset decrease owner's equity

Q51Quantitative Aptitude & Business Economics

The number of days in a given year in which a 130-point change occurs in the Karachi Stock Exchange index may describe a random variable that may possess:

ABinomial DistributionBPoisson DistributionCNormal DistributionDNone of these

Q52Fundamentals of Accounting

Monthly interest credited in bank statement but not in cash book should be:

ARecord as receipts in cash bookBRecord as payment in cash bookCRecord in BRS as uncredited itemDInform bank to reverse the entry

Q53Business & Commercial Knowledge

Which of the following organizations would rely most heavily on social indicators and efficiency rather than information on performance and profitability?

AA private accountancy collegeBA city mayor's officeCA small retailer shopDNone of the above

Q54Quantitative Aptitude & Business Economics

Y ≤ X is the same as:

AY ≤ 0BX ≥ YCX ≤ yDNone of these

Q55Quantitative Aptitude & Business Economics

Initial investment Rs.500,000. Cash inflows: Yr1=100,000; Yr2=150,000; Yr3=200,000; Yr4=250,000; Yr5=300,000. Discount rate 8%. Discounted Payback Period is:

A3.25 YearsB3.85 YearsC3.65 YearsD3.50 years

Q56Business Economics & Commercial Knowledge vol.2

Velocity of circulation of money can be determine by:

AG.D.P. / Money supplyBMoney supply / G.D.P.CNominal G.D.P. / Real G.D.P.DNone of the above

Q57Business Economics & Commercial Knowledge vol.2

Marginal cost curve intersects Average total cost curve at:

Athe minimum point of ATCBthe minimum point of MCCthe minimum points of both the MC and ATCDall of the above

Q58Business Economics & Commercial Knowledge vol.2

Which one of these is an expression of fiscal deficit?

AT > GBG < TCT < GDT = G

Q59Business & Commercial Knowledge

The money a company earns from selling goods is called:

ACostBProfitCRevenueDLoss

Q60Business & Commercial Knowledge

The AZ Co. has organised its workforce based on their expertise. Which organisational structure does the company follow?

ADivisional OrganisationBFunctional OrganisationCMatrix OrganisationDCannot be determined from the given information

Q61Fundamentals of Accounting

Who is responsible to prepare financial statements of a partnership?

APartner (for public disclosure)BThere may be no obligation to prepare financial statements of a partnership (other than for tax purpose)CManagerDAccountant

Q62Business Economics & Commercial Knowledge vol.2

The value of what KFC produces in Pakistan is included in the U.S ________ and in Pakistan ________.

AGDP; GDPBGNP; GNPCGNP; GDPDGDP; GNP

Q63Quantitative Aptitude & Business Economics

Which of the following is a possible answer for roots of a quadratic equation? i. x=3 and x=5, ii. x=2 and x=1, iii. x=0 and x=-1

A1 and 2B1 and 3C2 and 3DAll three are possible

Q64Business Economics & Commercial Knowledge vol.2

Which one of the following is most likely to result from an increase in the size of the public sector net cash requirement?

AA decrease in the rate of inflationBA reduction in the level of taxationCA rise in the price of sharesDA rise in rates of interest

Q65Fundamentals of Accounting

A business has capital of Rs.10000. Which of the following asset and liability figures could appear in this business's statement of financial position? Assets (Rs.) / Liabilities (Rs.)

A6000 / 16000B6000 / 4000C10000 / 10000D14000 / 4000

Q66Business & Commercial Knowledge

Ethics deals with:

AProfit and lossBRight and wrongCProducts and servicesDCosts and revenue

Q67Fundamentals of Accounting

Armaghan sold goods Rs. 100,000, terms 5/10, n/30 on 1 Jan, expected discount. Payment received after discount period. Journal entry?

ACash Debit Rs. 100,000, Najma Credit Rs. 100,000BCash Debit Rs. 100,000, Najma Credit Rs. 95,000, Sales Credit Rs. 5,000CCash Debit Rs. 95,000, Discount allowed Debit Rs. 5,000, Najma Credit Rs. 100,000DCash Debit Rs. 100,000, Najma Credit Rs. 95,000, Discount received Rs. 5,000

Q68Quantitative Aptitude & Business Economics

First and last terms of AP are -4 and 146. Sum of terms is 7171. Number of terms is:

A101B100C99DNone of these

Q69Quantitative Aptitude & Business Economics

Which of the following lines passes through the origin?

Ax + y = 5B2x − 3y = 6C4x + 2y = 0Dy = x + 1

Q70Business & Commercial Knowledge

Shareholders don't have to worry about their shareholding being diluted in:

AEquity investmentBDebt financingCOrdinary shares issuanceDLong term loans

Q71Fundamentals of Accounting

Zahid granted an early settlement discount of Rs. 1,500 to one of its customers. The discount amount was correctly entered in the receivable account, but it was wrongly credited to revenue account. The sales to this customer were originally recorded at gross amount and Zahid does not maintain separate discount allowed account. In order to balance the trial balance at year end, what should be the balance of suspense account in trial balance?

ARs. 3,000 CrBRs. 3,000 DrCRs. 1,500 DrDRs. 1,500 Cr

Q72Fundamentals of Accounting

An unidentified credit of Rs. 209,000 appearing in the bank statement for the month of June 2021 was credited to the suspense account. It was discovered that the amount, net of settlement discount of 5%, was an online transfer by a customer. The revenue was earlier recognised at gross amount. What journal entry must be recorded to correct this error?

ADEBIT: Suspense Rs. 209,000 and CREDIT: Trade receivables Rs. 209,000BDEBIT: Trade receivable Rs. 209,000 and CREDIT: Suspense Rs. 209,000CDEBIT: Suspense Rs. 209,000 & Revenue Rs. 11,000 and CREDIT: Trade receivables Rs. 220,000DDEBIT: Suspense Rs. 11,000 & Revenue Rs. 209,000 and CREDIT: Trade receivables Rs. 220,000

Q73Business Economics & Commercial Knowledge vol.2

The multiplier measures the rate of change in

Aoutput resulting from a change in spending,Bconsumption resulting from a change in output,Coutput resulting from a change in consumption,Dinvestment resulting from a change in output.

Q74Business & Commercial Knowledge

Lease rental is:

AAsset purchaseBOperating expenseCDebentureDCapital

Q75Quantitative Aptitude & Business Economics

The arrangement of data according to magnitude is known as:

AClassificationBTabulationCArrayDNone of these

Q76Business Economics & Commercial Knowledge vol.2

Which one is not an injection for circular flow of National Income?

APostponed consumptionBPublic sector spendingCPrivate investmentDExports

Q77Business Economics & Commercial Knowledge vol.2

Level of investment which depends upon level of income or investment that is motivated by the margin of profit is called:

ANet investmentBAutonomous investmentCInduced investmentDForeign direct investment

Q78Business & Commercial Knowledge

Employees having good knowledge of code of conduct perform better in controlled environment, where rights are protected

ATrueBFalseCD

Q79Business & Commercial Knowledge

Giving false impressions is:

AEthical behaviorBUnethical behaviorCLegal requirementDBusiness strategy

Q80Quantitative Aptitude & Business Economics

Sabeen plans to retire in 15 years. She wants to receive $20,000 per year for 10 years starting at age 60. If interest rate is 6% compounded annually, how much should she invest today in a deferred annuity?

A$93,050B$105,460C$111,505D$123,640

Q81Fundamentals of Accounting

At 1 Jan 2022 unpaid utility Rs. 55k, paid during year Rs. 478k, at 31 Dec 2022 unpaid Rs. 38.7k. Closing entry for year ended 31 Dec 2022?

ADr. Utility 461.7k; Statement of CI 461.7kBDr. Statement of CI 461.7k; Cr. Utility 461.7kCDr. Utility 494.3k; Statement of CI 494.3kDDr. Statement of CI 494.3k; Cr. Utility 494.3k

Q82Fundamentals of Accounting

Which of the following is NOT a disclosure requirement of IAS 2?

AThe accounting policies adopted in measuring inventoriesBThe cost formula usedCThe amount of any write-down of inventories recognised as an expense in the periodDLocation of each place where entity keeps its inventory

Q83Business Economics & Commercial Knowledge vol.2

If all the commercial banks in a national economy operated on a cash reserve ratio of 20%, how much cash would have to be deposited with the banks for the money supply to increase by Rs.100 million?

ARs.125 millionBRs.75 millionCRs.225 millionDRs.240 million

Q84Business Economics & Commercial Knowledge vol.2

Which one of the following rightward shifting in market demand curve?

AChange in product priceBChange indirect taxesCChange in subsidiesDChange in money income of consumers

Q85Quantitative Aptitude & Business Economics

A project has NPV of Rs.15,028 at 15% discount rate. What will be the NPV if discount rate is increased to 20%?

ARs.11,111BRs.16,028CRs.17,028DRs.18,028

Q86Business & Commercial Knowledge

JF 123 is designed and developed by Pakistan Aeronautical experts and special advisors from SC jets company. SC experts are working in horizontal fashion to provide expert support to the new project. Which of the following statement(s) characterize SC:

AThe matrix organization is also called the project management approach of organizational structure.BIt combines functional and product departmentalization from Pakistan aero, complementing their strengths and weaknesses, which brings together people from different functional areas of SC organization (such as manufacturing, finance, and marketing) to work on a special project.CEach employee has two direct supervisors: the line manager from her or his specific functional area and the project manager.DAll of the above

Q87Quantitative Aptitude & Business Economics

A company needs $250,000 in 6 years. Investment account offers continuous compounding at 6.5%. How much must it invest today?

A$165,450B$170,250C$175,980D$182,310

Q88Quantitative Aptitude & Business Economics

If a two year investment leads to 10% increase in first year and a 10% decrease in second year. What will be the effective gain/loss to investor over two years?

ABreak-evenBLoss of 1%CGain of 1%DCannot be determined with the information provided above

Q89Business & Commercial Knowledge

CSR benefits include:

ABetter brand imageBHigher costs onlyCMore problemsDLess employee morale

Q90Business & Commercial Knowledge

Finance department rotates employees… This is:

AJob enrichmentBJob consolidationCJob appraisalDJob rotation

Q91Fundamentals of Accounting

Which of the following is not a property, plant and equipment?

ATangible assetsBAssets held for the production or supply of goods or servicesCAssets held for sale in the normal course of businessDAssets expected to be used for more than one period

Q92Fundamentals of Accounting

Cash book Rs. 15,000 Dr. Unpresented Rs. 2,500, Uncredited Rs. 1,500, Bank charges Rs. 200, Bank interest Rs. 120 instead of Rs. 150 (not in CB). Receipt Rs. 1,500 on credit side (error), Payment Rs. 1,200 on debit side (error). Corrected cash book balance?

ARs. 15,370 DrBRs. 15,250 DrCRs. 15,250 CrDRs. 15,370 Cr

Q93Business & Commercial Knowledge

The primary objective of any business is to:

AIncrease employeesBEarn profitCProduce goods onlyDMinimize expenses

Q94Business & Commercial Knowledge

Customers can switch from one product to another product if their interests are not satisfied because customers have ____________

APosition powerBMarket powerCDecision powerDBuying power

Q95Business & Commercial Knowledge

Which of the following best distinguishes development from training?

ADevelopment focuses on technical skills, training focuses on personal skillsBDevelopment occurs through experience, training focuses on specific tasksCTraining is long-term, development is short-termDTraining is only for managers, development is only for junior staff

Q96Business Economics & Commercial Knowledge vol.2

Causes of liquidity trap are: (i) Depression (ii) Inflation (iii) Deflation (iv) Lack of business confidence

A(ii) & (iv)B(i) & (ii)C(i), (iii) and (iv)DOnly (iv)

Q97Business & Commercial Knowledge

Sale of receivables to bank at discount is:

AFactoringBDiscounting payablesCTrade creditDLeasing

Q98Quantitative Aptitude & Business Economics

Mr. X invested Rs. 10,000 in Bank A at 8% interest and Rs. 15,000 in Bank B at X%. If the interest for the first year is Rs. 2,150, what is the rate of interest in Bank B?

A8.9%B9.5%C9.0%DNone of these

Q99Fundamentals of Accounting

Sajid Account: March 1 Purchases 10k, March 2 Return 2k, March 3 Discount received 1k, March 3 Cheque 5k. Balance after correction?

ARs. 16,000 DebitBRs. 4,000 DebitCRs. 2,000 DebitDRs. 2,000 Credit

Q100Quantitative Aptitude & Business Economics

The y-coordinate of x-intercept(s) of a quadratic function is always:

A0B1C2D3

Q101Quantitative Aptitude & Business Economics

In a geometric progression the common ratio can be calculated by dividing second term by first term:

ATrueBFalseCOnly if ratio > 1DNone of these

Q102Fundamentals of Accounting

Kashan purchased goods Rs. 12,000, paid Rs. 10,000 at purchase, balance in two months. Record transaction in:

APurchases day book Rs. 12,000BPurchases day book Rs. 10,000, Cash Book Rs. 2,000CPurchases day book Rs. 2,000, Cash book Rs. 10,000DCash book Rs. 10,000, General journal Rs. 2,000

Q103Quantitative Aptitude & Business Economics

The index that measures changes in prices that affect the cost of living of a large fraction of the population is called:

AWholesale Price IndexBSimple price relativesCConsumer Price IndexDNone of these

Q104Business Economics & Commercial Knowledge vol.2

Collusion in oligopolistic markets will lead to

AFirms setting price where industry marginal revenue is equal to marginal costs and supernormal profits being earnedBFirms setting price where industry marginal revenue is equal to marginal costs, and normal profits being earnedCFirms setting price equal to average total cost, and supernormal profits being earnedDFirms setting price equal to average total cost, and normal profits being earned

Q105Quantitative Aptitude & Business Economics

If r = 0.9 and each observation of x and y is divided by 10, then r will:

ADecrease by 10 timesBDecrease by 100 timesCRemain unchangedDNone of these

Q106Business & Commercial Knowledge

_________________ is defined as "set of moral principles which guide organizations on what is right, wrong, and appropriate in the workplace":

AEthicsBBusiness EthicsCLegal EthicsDCorporate Social Responsibility

Q107Fundamentals of Accounting

On 1 March 2017 Zahra pays insurance premium Rs.2400 for period to 28 Feb 2018. What is charge to P&L for year ended 31 Oct 2017 and prepayment in SFP?

ACharge Rs.800 Prepayment Rs.1600BCharge Rs.1600 Prepayment Rs.800CCharge Rs.2400 Prepayment 0DCharge 0 Prepayment Rs.2400

Q108Fundamentals of Accounting

Sarfaraz purchased machine 1 Apr 2022 Rs. 200k, installation 20k, life 10 years, residual 5k. Depreciation entry for year ended 31 Dec 2022 using SLM?

ADr. Depreciation 21.5k; Cr. Accumulated depreciation 21.5kBDr. Accumulated depreciation 21.5k; Cr. Depreciation 21.5kCDr. Depreciation 16.125k; Cr. Accumulated depreciation 16.125kDDr. Accumulated depreciation 16.125k; Cr. Depreciation 16.125k

Q109Fundamentals of Accounting

Unearned revenue Rs. 50,000 in unadjusted TB. 80% adjusted as earned. Balance in adjusted TB?

ARs. 50,000BRs. 40,000CRs. 10,000DRs. NIL

Q110Business Economics & Commercial Knowledge vol.2

In an increasing cost industry, an increase in output causes the Average total cost curve of a typical firm to shift.

ATo the leftBTo the rightCDownwardDUpward

Q111Quantitative Aptitude & Business Economics

Students A (P=9/10), B (P=8/10), C (P=7/10). What is the probability that A and B pass but C fails?

A0.046B0.216C0.036D0.026

Q112Quantitative Aptitude & Business Economics

Which of the following statement is correct?

AEffective annual rate for 10% per annum compounded semi-annually will be more than 10%BEffective annual rate for 10% per annum compounded semi-annually will be less than 10%CEffective annual rate for 10% per annum compounded semi-annually will be equal to 10%DAll of the above

Q113Quantitative Aptitude & Business Economics

The normal distribution curve is ___ therefore ___, median and mode all coincide at the same point:

ASymmetric and varianceBSymmetric and meanCDispersed and meanDFlat and variance

Q114Fundamentals of Accounting

At the end of accounting period an entity incurred net loss of Rs.15000 it shall be transferred to:

ADebit side of Capital accountBCredit side of Capital accountCDebit side of profit or lossDCredit side of profit or loss

Q115Business Economics & Commercial Knowledge vol.2

The diagram shows the demand curve for good A. What could cause a movement along the curve from 2 to 3?

AA change in seasonBA change in price of ACA change in cost of productionDA change in price of substitute good

Q116Business & Commercial Knowledge

In matrix structure, employees report to:

AOne manager onlyBTwo managersCNo managerDCustomers only

Q117Fundamentals of Accounting

Expenses relevant to accounting period which remain unpaid by period end should be:

AIncluded with expenses paid and shown as asset at period endBIgnored until paid in next periodCDeducted from amount already paid and shown as liability at period endDIncluded with expenses and shown as liability at period end

Q118Business Economics & Commercial Knowledge vol.2

An equilibrium level of output exists when output is Rs 550 billion, investment spending is Rs 70 billion, net exports equal Rs 30 billion, and the consumption function is C = 10 billion + 0.80Y.

ATrueBFalseCD

Q119Business Economics & Commercial Knowledge vol.2

Unemployment rate cannot be zero because of

AFrictional unemploymentBStructural unemploymentCVoluntary unemploymentDAll of above

Q120Business & Commercial Knowledge

TRUE OR FALSE: Tactical and operational decisions should be centralised at the local management level, particularly in a large organisation.

ATRUEBFALSECD

Q121Business & Commercial Knowledge

Lack of ethical behavior can also cause tension among employees, with some employees resenting those who do not play by ______________ and still manage to get ahead:

AValuesBNormsCLawsDRules

Q122Business Economics & Commercial Knowledge vol.2

Which one of the following would lead to an increase in money supply?

AAn increase in the rate of interestBDecrease in demand for borrowing from the peopleCSale of government securities by the central bankDPurchase of government securities by the central bank

Q123Business & Commercial Knowledge

Promotion's main aim is to:

AInform and influence customers to purchaseBReduce product qualityCIgnore target marketDOnly produce products

Q124Fundamentals of Accounting

Minahil paid Rs. 25k against bad debts written-off in previous year. Entry in JSS Industries books?

ADr. Cash and Cr. Accounts receivablesBDr. Cash and Cr. Allowance for doubtful debtsCDr. Cash and Cr. Bad debts expenseDDr. Cash and Cr. Accounts payable

Q125Fundamentals of Accounting

Asset purchased 1 Jan 2020 Rs. 60k, residual 4k, life 7 years. Depreciation for year ended 31 Dec 2022 using sum-of-years-digit?

ARs. 8,000BRs. 10,000CRs. 12,000DRs. 14,000

Q126Business & Commercial Knowledge

Which of the following is not a type of on-job training?

AOrientationBJob instruction manualsCSimulationDApprenticeships

Q127Business & Commercial Knowledge

A virtual company relies heavily on:

ALandBLaborCCapitalDExternal service providers

Q128Quantitative Aptitude & Business Economics

Annual cost Rs.500,000 reduces by 20% p.a. for next two years. Annual cost for fourth year from now is:

ARs.320,000BRs.163,840CRs.200,000DRs.260,000

Q129Quantitative Aptitude & Business Economics

Mode of 2.5, 3.6, 3.1, 4.3, 2.9, 2.3 is:

A4.3B(3.1+4.3)/2CDoes not existDNone of these

Q130Fundamentals of Accounting

Opening allowance Rs.5000; Write off Rs.3000; Recovery Rs.1500; Closing receivables Rs.90000; Allowance 5%. Net charge for bad and doubtful debts?

ARs. 500BRs. 1000CRs. 1500DRs. 2000

Q131Business Economics & Commercial Knowledge vol.2

Which situation reflects a recovery?

Afirms begin to scale back their production greaterBsteady rise in output, incomes and business confidenceCissue credit more freelyDBanks reduce the credit

Q132Business & Commercial Knowledge

Intangible aspects of a product refer to:

APriceBBenefits, services, or image associated with a productCRaw materialsDDistribution

Q133Fundamentals of Accounting

Which TWO are examples of accrued income?

ARental income for 6 months received in advanceBDeposit in fixed deposit, interest receivable at year endCBill of maintenance issued after providing serviceD50% payment received in advance for supply of goods

Q134Business Economics & Commercial Knowledge vol.2

Which of the following items would not be included in the Pakistan's Balance of Payments statistics?

AThe terms of tradeBThe takeover of a Pakistani company by a Chinese companyCInvestments overseas by private individualsDGovernment of Pakistan borrowing from International Monetary Fund

Q135Quantitative Aptitude & Business Economics

Rs.100,000 deposited. Bank pays 8% p.a. compounded half-yearly in year 1 and 12% p.a. compounded quarterly in years 2 and 3. Balance after 3 years is:

ARs.137,013.85BRs.136,013.85CRs.147,013.85DRs.157,013.85

Q136Business & Commercial Knowledge

Information technology describes the application of computers and telecommunications equipment to store, retrieve, transmit and manipulate data.

ATrueBFalseCD

Q137Business Economics & Commercial Knowledge vol.2

A shopkeeper sells 24 pens at a price of Rs.20 per day. At a price of Rs.18 he sells 33 pens a day. Since total revenue is ________ by the price decrease, demand must be ________.

AIncreased; elasticBIncreased; inelasticCIncreased; unit elasticDDecreased; elastic

Q138Fundamentals of Accounting

When the cheque was returned from bank, then which of the following are reasons of dishonour cheque?

AInsufficient fundsBSignatures not matchedCOverwriting on chequeDTime-barred cheque

Q139Business Economics & Commercial Knowledge vol.2

Which one is NOT a responsible factor for shift in MEC?

AChange in sentimentsBChange in wage rateCPopulation growthDNone of the above

Q140Business & Commercial Knowledge

Expert system database contains:

ARandom codesBAccumulated knowledgeCDeleted filesDPictures only

Q141Business Economics & Commercial Knowledge vol.2

Which of the following adjustment is called factor price adjustment?

A(i) Indirect taxesB(ii) SubsidesC(iii) Capital consumption allowanceD(iv) Net factor income from abroad

Q142Business & Commercial Knowledge

Financial management is primarily concerned with:

ASelling productsBManaging company funds efficientlyCHiring employeesDManaging business records

Q143Fundamentals of Accounting

Closing journal entry to transfer net loss for the year is:

AStatement of comprehensive income Debit Capital CreditBCapital Debit Statement of comprehensive income CreditCStatement of financial position Debit Capital CreditDNet loss Debit Statement of comprehensive income Credit

Q144Business & Commercial Knowledge

Matrix organizations can restrict the performance and efficiency of the organization in terms of:

ASlow communicationBConflicts due to dual chain of commandCSpecialisationDDecentralisation

Q145Fundamentals of Accounting

Creditors: 20,000, Debtors: 40,000, Bank Overdraft: 18,000, Loan to employee: 30,000, Bills Payable: 10,000. Total current liabilities?

ARs. 78,000BRs. 48,000CRs. 38,000DRs. 18,000

Q146Quantitative Aptitude & Business Economics

Mr. Imtiaz owes Rs. 10,000 due in 2 months, Rs. 24,000 due in 6 months and Rs. 6,000 due in 8 months. In how many months should he make a single payment of Rs. 40,000 to discharge the three debts if interest rate is 6%?

A5 months and 3 daysB9 months and 15 daysC9 months and 5 daysD5 months and 9 days

Q147Quantitative Aptitude & Business Economics

Expanded form of (x+4)(x-2) is:

AX^2+4X-8BX^2+3X-3CX^2+2X-8DX^2+4X-2

Q148Fundamentals of Accounting

Receivables (net) 342k, allowance 38k created including 5% general. Specific allowance amount?

ARs. 20,000BRs. 20,900CRs. 19,000DRs. 15,200

Q149Fundamentals of Accounting

Which accounts must be presented on debit column of trial balance?

ASalesBSales ReturnCPurchasesDPurchases Return

Q150Fundamentals of Accounting

Total of purchases day book represents:

AGross credit purchasesBNet credit purchasesCGross total purchasesDNet total purchases

Q151Business & Commercial Knowledge

Professional firms like accountants often form:

ASole proprietorshipsBGeneral partnershipsCPublic companiesDCooperatives

Q152Business & Commercial Knowledge

Which of the following is a misconception about marketing?:

AIt is a systematic approach to satisfy consumersBIt focuses on creating valueCIt is the same as salesDIt involves planning and distribution

Q153Business Economics & Commercial Knowledge vol.2

Investment in a closed economy (with no government sector) is expected to increase by Rs.6,000 million in the next year. Given a marginal propensity to save of 0.4, what will be the expected growth in national Income!

ARs.10,000 millionBRs15,000 millionCRs.16,000 millionDRs.21,000 million

Q154Business & Commercial Knowledge

Information system is broader than information technology because it includes:

AOnly hardwareBOnly softwareCPeople and processesDOnly telecom networks

Q155Fundamentals of Accounting

Journal entry to record payment of rent by cheque for June 2022:

ADr. Rent Expense and Cr. CashBDr. Rent Expense and Cr. BankCDr. Cash and Cr. Rent ExpenseDDr. Bank and Cr. Rent Expense

Q156Business & Commercial Knowledge

Which of the following can be an advantage of centralized decision-making in an organization?

ADecisions by senior management are always correct; junior management cannot be trusted.BDecisions by management could be coordinated more effectively if all the key decisions are taken centrally.CIn a crisis, the management will have no one to answer to.DAll of the above

Q157Quantitative Aptitude & Business Economics

Dawood must pay Rs.428,000 in three years. Present loan amount if rate is 8% compounded semi-annually is:

ARs.345,161BRs.339,760CRs.338,254DRs.336,421

Q158Business Economics & Commercial Knowledge vol.2

Which of the following ____________is NOT a characteristic of oligopoly?

AMutual dependenceBGrowth through mergerCLarge number of firmsDNon-price competition

Q159Business & Commercial Knowledge

Usually the ____________ receives a larger share of the profits after the limited partners have received their initial investment back.

ALimited partnerBGeneral partnerCSpecific partnerDStandard partner

Q160Fundamentals of Accounting

Which best describes purpose of aging analysis of accounts receivables?

ACalculate balance from individual customerBEvaluate most valuable customerCIdentify regularities of receivablesDEvaluate irregularities in payments to estimate allowance

Q161Fundamentals of Accounting

Depreciation for 2020: 48k, 2021: 33.6k, 2022: 23.52k using RBM. Depreciation rate?

A20%B30%C50%D70%

Q162Business & Commercial Knowledge

Apprenticeship is common in:_____

ASkilled tradesBBanking onlyCLaw onlyDTeaching only

Q163Fundamentals of Accounting

An amount of Rs. 100 was received from Dawood on 31st December 2016 but was not recorded in cash book. However, Dawood's account was credited by Rs. 100. What journal entry must be recorded to correct this error?

ADEBIT: Cash Rs. 100 and CREDIT: Suspense Rs. 100BDEBIT: Suspense Rs. 100 and CREDIT: Cash Rs. 100CDEBIT: Cash Rs. 100 and CREDIT: Dawood Rs. 100DDEBIT: Dawood Rs. 100 and CREDIT: Cash Rs. 100

Q164Business Economics & Commercial Knowledge vol.2

The circular flow of income for a two-sector model shows

AThe flow of income between the household and business sectorsBThe amount of money held by the household and business sectorsCWhether the household sector is satisfied with the output of the business sectorDWhether the business sector is satisfied with the spending of the household sector

Q165Fundamentals of Accounting

An asset was purchased for Rs.1000000 with down payment Rs.200000 and bills accepted for Rs.800000. What would be the effect on total asset and total liabilities?

AAssets increased by Rs.800000 and liabilities decreased by Rs.800000BAssets decreased by Rs.800000 and liabilities increased by Rs.800000CAssets increased by Rs.1000000 and liabilities increased by Rs.800000DAssets increased by Rs.800000 and liabilities increased by Rs.800000

Q166Quantitative Aptitude & Business Economics

If two or more events cannot occur simultaneously then they are called:

AIndependentBMutually exclusiveCNot equally likelyDNone of these

Q167Fundamentals of Accounting

Bank loan Rs. 160M acquired 1 April 2015, 5 annual instalments 31 March. Interest 10% p.a., paid semi-annually. Year end 31 Dec 2015. Adjusting entry for interest payable?

ADr Interest expense Rs. 4M Cr Interest payable Rs. 4MBDr Interest expense Rs. 4M Cr Bank loan Rs. 4MCDr Interest expense Rs. 8M Cr Interest payable Rs. 8MDDr Interest expense Rs. 12M Cr Interest payable Rs. 12M

Q168Business Economics & Commercial Knowledge vol.2

Which one of the following would leads to a rise in bond price?

AA fall in rate of interestBA rise in rate of interestCAn increase in liquidity preferenceDA fall in reserve ratio

Q169Fundamentals of Accounting

Which items would NOT appear on same side of trial balance?

ACarriage inwards and return inwardsBCarriage outwards and return outwardsCDrawings and return inwardsDCapital and rental income

Q170Fundamentals of Accounting

Which of the following are NOT related to statement of profit and loss of an entity:

AInterest expenseBCost of goods soldCRevaluation surplusDIncome tax expense

Q171Business Economics & Commercial Knowledge vol.2

A price above than market price will show:

AA surplusBA shortageCEquilibriumDMaximum price

Q172Business Economics & Commercial Knowledge vol.2

A country's measured national income per capital falls but its inhabitants experience a rise in consumption. What could explain this?

AA decrease in net foreign remittancesBA fall in populationCAn increase in trade deficitDA rise in negative externalities

Q173Business Economics & Commercial Knowledge vol.2

Which of the following cannot be termed as 'transfer payment' for the purpose of National Income accounting?

AInterest paid to holders of government stockBSalaries paid to Members of ParliamentCPayments of state pensionsDSocial security payments

Q174Fundamentals of Accounting

Bank Reconciliation Statement is prepared by

ABank of the business entityBAccountant of the business entity itselfCMajor customer of the businessDAuditors of the business

Q175Business Economics & Commercial Knowledge vol.2

The marginal propensity to consume measures

AThe relationship between changes in consumption and changes in consumer utilityBThe proportion of household incomes spent on consumer goodsCThe proportion of total national Income spent on consumer goodsDThe relationship between changes in consumption and changes in income

Q176Business Economics & Commercial Knowledge vol.2

Which one of the following would normally cause a rightward shift in the demand curve for a product?

AA fall in the price of a substitute productBA reduction in direct taxation on incomesCA reduction in price of the productDAn increase in the price of a complementary produce

Q177Fundamentals of Accounting

Which best describes the purpose of sales invoice?

AIssued to customer as request for payment on due dateBIssued as request to receive stockCIssued as details of transactions during specific monthDIssued to customer as notification of payment

Q178Business Economics & Commercial Knowledge vol.2

Net increase in the physical capital stocks of an economy is called:

ASavingsBConsumptionCHoardingDInvestment

Q179Business & Commercial Knowledge

Batch processing means:

AProcessing data one by oneBCollecting data and processing in groupsCReal-time processingDBackup storage only

Q180Fundamentals of Accounting

What is the cost constraint on useful information in accounting?

AFinancial information should be provided promptly to influence decisionsBThe cost of providing financial information should be justified by the benefits it providesCFinancial statements should be verifiable by independent observersDFinancial information should be presented in a clear and concise manner

Q181Fundamentals of Accounting

XYZ receives interest Rs.100000 for December 2011 on 3 Jan 2012. Year end 31 Dec. What entry for this transaction?

APrepaid interest Dr Rs.100000 Interest income Cr Rs.100000BCash Dr Rs.100000 Interest income Cr Rs.100000CCash Dr Rs.100000 Prepaid interest Cr Rs.100000DInterest receivable Dr Rs.100000 Interest income Cr Rs.100000

Q182Business Economics & Commercial Knowledge vol.2

If reserve ratio increases from 10% to 20% then credit in the economy will be_________

Aincrease by 50%Bdecrease by 50%Cincrease by 10%Ddecrease by 5%

Q183Fundamentals of Accounting

A debit balance would be expected to arise when the accounts are balanced at the period end on which of the following accounts?

ACapitalBSalesCElectricityDLoan

Q184Business Economics & Commercial Knowledge vol.2

In a perfectly competitive market ___________ is/are the price maker(s):

Athe individual firmBthe industryCa large number of consumersDthe trade association

Q185Business Economics & Commercial Knowledge vol.2

which one is not a conflict between objective of monetary policy?

APrice stability and full employmentBExchange rate stability and economic growthCEconomic growth vs credit controlDEconomic growth and credit creation

Q186Quantitative Aptitude & Business Economics

Three numbers in AP with sum 21. If 1, 5, 15 added respectively they form GP. The numbers are:

A5, 7, 9B9, 5, 7C7, 5, 9DNone of these

Q187Business Economics & Commercial Knowledge vol.2

A banking system in a small country consists of just five banks. Each bank has decided to maintain a minimum cash ratio of 10%. Each bank now receives additional cash deposits of Rs.1 million. There will now be a further increase in total bank deposits up to a maximum of

ARs.500,000BRs.5 millionCRs.45 millionDRs.50 million

Q188Business Economics & Commercial Knowledge vol.2

Select the factor/s which force government to intervene into market for price determination:

ATo protect the strong agents of an economyBTo avoid artificial shortage of the goodsCTo increase government revenueDNone of the above

Q189Business Economics & Commercial Knowledge vol.2

___________ Economics not only highlights the economic problems but also suggest solutions.

ANormative EconomicsBPositive EconomicsCEconomics Is an ArtDModern Economy

Q190Business Economics & Commercial Knowledge vol.2

Zakat rate is like proportional tax rate.

ATrueBFalseCD

Q191Business Economics & Commercial Knowledge vol.2

Which one is not prohibited in Islamic economic system?

AMaking of MoneyBInvestment in Prohibited (Haram) BusinessesCShort SellingDInvestment in Non-Asset Backed Derivatives

Q192Fundamentals of Accounting

A debit entry usually represents decrease in:

AAssets and expensesBLiabilities and incomeCLiabilities and expensesDIncome and assets

Q193Business Economics & Commercial Knowledge vol.2

Total revenue for a firm with a downward sloping demand curve, will be maximised when

AMarginal cost = marginal revenueBMarginal cost = average revenueCAverage cost = average revenueDMarginal revenue is zero

Q194Business Economics & Commercial Knowledge vol.2

If the amounts of two commodities purchased both increase or decrease when the price of one change, the cross elasticity of demand between them is:

ANegativeBPositiveCZeroDOne

Q195Business Economics & Commercial Knowledge vol.2

A rise in household income is likely to result in a leftward shift in demand for inferior goods.

ATrueBFalseCD

Q196Quantitative Aptitude & Business Economics

The following data relate to the mean and standard deviation of the price of two shares in a stock exchange: Co efficient of correlation between the share prices is 0.48. Find the most likely price of share A corresponding to a price of Rs. 60 of share B

A49.96B44.96C50.96D54.96

Q197Business Economics & Commercial Knowledge vol.2

"The tax which each individual is bound to pay ought to be certain, and not arbitrary. The time of payment, the manner of payment, the quantity to be paid ought all to be clear and plain to the contributor and to every other person." is called cannon of __________.

ACertaintyBEconomyCConvenienceDEquality

Q198Fundamentals of Accounting

PN opening receivables Rs.87000 allowance Rs.2500. Wrote off Rs.800 and Rs.550. Recovery Rs.350. Closing receivables Rs.90000 allowance Rs.2300. Charge to P&L?

ARs. 800BRs. 1000CRs. 1150DRs. 1550

Q199Quantitative Aptitude & Business Economics

Which is NOT a possible value of common ratio in GP?

A0B1C2D3

Q200Business Economics & Commercial Knowledge vol.2

A redistribution of income from rich to poor households is likely to lead to an increase in aggregate demand.

ATrueBFalseCD

Q201Business & Commercial Knowledge

Coaching involves a senior manager instructing how to accomplish various tasks on the job.

ATrueBFalseCD

Q202Fundamentals of Accounting

Which TWO errors cannot be detected by Adjusted Trial Balance?

AOmission of a transactionBRecording an expense as an assetCErrors in addition of account balancesDRecording a transaction on the wrong side of the ledger

Q203Fundamentals of Accounting

Allowance at 31 Oct 2011 Rs.9000. Write off Rs.5000 during year. Receivables 31 Oct 2012 Rs.120000. Set allowance at 5%. Total charge for bad debts and allowance?

ARs. 2000BRs. 3000CRs. 5000DRs. 8000

Q204Business & Commercial Knowledge

Branding helps a business by:

AIncreasing production costBMaking products identicalCDifferentiating products from competitorsDEliminating competition

Q205Business Economics & Commercial Knowledge vol.2

A bank targeted to a specific section of economy in which firms and consumers can have access to specialized forms of banking services is known as:

ACommercial bankBRetail bankCInvestment bankDSpecialized bank