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Pakistan Custom Department MCQs for Appraising / Valuation Officer in BoR

Pakistan Custom Department MCQs for Appraising / Valuation Officer (BS-16) in BoR

Pakistan Custom Department MCQs for Appraising / Valuation Officer in BoR

1. Who is the guardian of Pakistan borders against movement of contra band goods and is facilitator of bona fide trade.
(a) Pakistan Anti narcotic Force
(b) Pakistan Customs
(c) Pakistan rangers
(d) Pakistan Army

2. The Customs Act, 1969 [Act No. IV of 1969] was enforced on
(a) 3rd July, 1969
(b) 3rd March, 1969
(c) 3rd April, 1969
(d) 3rd August, 1969

3. The Customs Act, 1969 extends to the whole of
(a) Punjab
(b) KPK & Sindh
(c) Pakistan
(d) Balochistan & Sindh

4. The government service responsible for the assessment and collection of import and export duties and taxes and the administration of other laws and regulations that apply to the importation, transit and exportation of goods is called
(a) Sales
(b) Excise
(c) Customs
(d) None of these

5. “Terms of trade” between two countries refer to a ratio of:
(a) Export prices to import prices
(b) Currency values
(c) Exports to imports
(d) Balance of trade to balance of payments

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Quantitative Aptitude MCQs (Solved) for All Competitive Exams

Quantitative Aptitude MCQs (Solved)

Quantitative Aptitude MCQs (Solved) for All Competitive Exams

A dealer allowed a discount of 25% on the marked price of Rs. 12000 on an article and incurred a loss of 10%. What discount should he allow on the marked price so that he gains Rs. 440 on the article?
(a) 11%
(b) 13%
(c) 19%
(d) 15%
(e) None of these
Answer: (b)

The distance between two points is 36 km. A boat rows in still water at 6 kmph. It takes 8 hours less to cover this distance in downstream in comparison to that in upstream. The rate of stream is–
(a) 3 kmph
(b) 2 kmph
(c) 2.5 kmph
(d) 4 kmph
(e) None of these
Answer: (a)

In how many different ways can the letters of the word ‘MIRACLE’ be arranged?
(a) 720
(b) 5040
(c) 2520
(d) 40320
(e) None of these
Answer: (b)

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Accounting and Auditing MCQs | Business Taxation MCQs for Competitive Exams

Accounting and Auditing MCQs | Business Taxation MCQs for Competitive Exams

Government policies that focus on changing taxes and government spending are called:
(a) Fiscal policies
(b) Monetary policies.
(c) Incomes policies.
(d) Supply-side policies.
Answer: a

Who is Tax payer?
(a) Businessman
(b) Assessee
(c) Trust
(d) Farmer
Answer: b

The most important source of income of a government is:
(a) Foreign loans
(b) Sprinting of new money
(c) Sale of government property
(d) Taxes
Answer: d

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Accounting Principles & Procedures MCQs (Set-II) for all Competitive Exams

Accounting Principles & Procedures MCQs (Set-II) for all Competitive Exams

What does the certification CA stand for (in Canada)?
(a) Accrued revenue
(b) Chartered Accountant
(c) All of the above
(d) Nome of the above
Answer: b

When you have yet to bill a customer for services rendered and have not received the money in the same financial period that the service was performed, then the transaction is recorded as a(n) ________ (assume accrual basis of accounting)?
(a) accrued revenue
(b) accrued expense
(c) unearned revenue
(d) prepaid expense
Answer: a

What are internal controls designed to do?
(a) only safeguard assets
(b) only ensue accurate accounting records
(c) only achieve maximum revenue
(d) safeguard assets and optimize the use of resources
Answer: d

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Cost Accounting MCQs (Set-II) | for FPSC and all other One Paper MCQs Tests

Cost Accounting MCQs (Set-II)

Direct material opening inventory add net purchases is called
(a) Material consumed
(b) Material available for use
(c) Total material purchased
(d) Material ending inventory
Answer: b

Which of the following is to be called product cost
(a) Material cost
(b) Labor cost
(c) FOH cost
(d) All of these
Answer: d

Which of the following cannot be used as a base for the determination of overhead absorption rate?
(a) Number of units produced
(b) Prime cost
(c) Conversion cost
(d) Discount Allowed
Answer: d

A Blanket Rate is:
(a) A single rate which used throughout the organization departments
(b) A double rates which used throughout the organization departments
(c) A single rates which used in different departments of the organization
(d) None of the given options
Answer: a

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Cost Accounting MCQs (Set-I) | for FPSC and all other One Paper MCQs Tests

Cost Accounting MCQs (Set-I) | for FPSC and all other One Paper MCQs Tests

The difference over the period of time between actual and applied FOH will usually be minimal when the predetermined overhead rate is based on:
(a) Normal capacity
(b) Designed capacity
(c) Direct Labor hours
(d) Machine hours
Answer: a

The cost of goods sold was Rs. 240,000. Beginning and ending inventory balances were Rs. 20,000 and Rs. 30,000, respectively. What was the inventory turnover?
(a) 8.0 times
(b) 12.0 times
(c) 7.0 times
(d) 9.6 times
Answer: d

By using table method where—————- is equal, that point is called Economic order quantity.
(a) Ordering cost
(b) Carrying cost
(c) Ordering and carrying cost
(d) Per unit order cost
Answer: c

A cost unit is
(a) The cost per hour of operating a machine
(b) The cost per unit of electricity consumed
(c) A unit of product or services in relation to which costs are ascertained
(d) A measure of work output in a standard hour
Answer: c

Loss by fire is an example of:
(a) Normal Loss
(b) Abnormal Loss
(c) Incremental Loss
(d) Cannot be determined
Answer: a

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Journal, Ledger & Cash Book MCQs for FPSC and other related One Paper MCQs Tests

Journal, Ledger & Cash Book MCQs | for FPSC and other related One Paper MCQs Tests

1. The process of recording is done
(a) Two times a year
(b) once a year
(c) Frequently during the accounting period
(d) At the end of a accounting period

2. The act of transferring the information from the General Journal to the General Ledger is called what?
(a) Posting
(b) Journalizing
(c) Transferring
(d) Pasting

3. What is a firm’s payment to a supplier for merchandise inventory recorded in?
(a) sales journal
(b) cash receipts journal
(c) purchases journal
(d) cash disbursements journal

4. Where are amounts owed by customers for credit purchases found?
(a) accounts receivable subsidiary ledger
(b) sales journal
(c) accounts receivable journal
(d) general ledger

5. Which of the following transactions is not recorded in the cash receipts journal?
(a) expensing prepaid rent
(b) receipt of customer payments
(c) borrowing money from a bank
(d) sale of equipment for cash

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Principles of Business & Financial Management MCQs

Principles of Business & Financial Management MCQs

Communication should be:
(a) From Top to Bottom level
(b) From Bottom to top
(c) 2 way
(d) None of these
Answer: c

Which ethical approach is guided by what will result in the greatest good for the greatest number of people?
(a) Moral-Rights approach
(b) Individual approach
(c) Utilitarian approach
(d) Justice approach
Answer: d

Low level management has a complete authority to make decisions in case of:
(a) Centralization
(b) Decentralization
(c) Scalar Chain
(d) Order
Answer: b

Which one of the following individuals is most closely associated with scientific management?
(a) Frederick Taylor
(b) Mary Parker Follett
(c) Harold Koontz
(d) Max Weber
Answer: a

Each subordinate should report to one and only one superior is called:
(a) Authority
(b) Unity of command
(c) Unity of direction
(d) Order
Answer: b

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Accounting Principles & Procedures MCQs (Set-I) for FPSC Senior Auditor Tests

Accounting Principles & Procedures MCQs (Set-I) for FPSC Senior Auditor Tests

MCQs for FPSC Senior Auditor Tests
Accounting Principles & Procedures | Fundamentals of Accounting

1. For better assessing the audit risk, auditor inquires different groups in the organizations EXCEPT:
(a) Board of governance and top level management
(b) Legal counsel
(c) Middle level management
(d) Stakeholders

2. Internal sources of audit evidence for an entity includes the following EXCEPT:
(a) Associated companies of the entity
(b) Accounting systems, records and documents
(c) Non-financial data and records
(d) Management representation and discussion
Note: An “Associated Company” is an entity in which the Company has significant influence, but not a controlling interest, over the operating and financial management policy decisions of the entity. Associated Companies are accounted for using the equity method. Significant influence is generally presumed when the Company holds between 20 percent and 50 percent of the voting rights.

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PROFESSIONAL TEST MCQs (Set-1) for the Post of Senior Auditor

PROFESSIONAL TEST MCQs (Set-1) for the Post of Senior Auditor

PROFESSIONAL TEST MCQs with Answers (Set-1) for FPSC Senior Auditor Tests

1. Wages are paid for:
(a) Short term period
(b) Long term period
(c) All of the given options
(d) None of the given options

2. Which of the following is false?
(a) One reason for failure of small businesses is lack of managerial experience.
(b) One reason for failure of small businesses is that most entrepreneurs are younger than 25 years old
(c) One reason for failure of small businesses is neglect.
(d) One reason for failure of small businesses is weak control systems.

3. Which of the following is NOT a secondary industry?
(a) Construction industry
(b) Manufacturing industry
(c) Genetic industry
(d) Services industry

4. Industry is further divided into ______kinds.
(a) 2
(b) 3
(c) 4
(d) 5

5. Primary Industry is divided further in to
(a) Extractive
(b) Genetic
(c) Both a & b
(d) None of these

6. Secondary Industry is divided further in to
(a) Construction
(b) Manufacturing
(c) Services
(d) All of these

7. All of the following statements are true regarding partnerships except ________.
(a) There is no partnership income tax; the individual partners pay a personal income tax on their portion of partnership profits
(b) If the partnership agreement does not specify otherwise, profits will be shared equally by the partners
(c) A partnership balance sheet is much like that of a proprietorship
(d) The death of a partner dissolves the partnership and all assets must be liquidated

8. Marketing should begin with ________.
(a) Potential customer needs
(b) The production process
(c) Identifying customer needs
(d) All of the given options

9. Which one of the country has more collectivist culture?
(a) USA
(b) Japan
(c) Pakistan
(d) UK

10. New and revised products may be tested through:
(a) Commercialization
(b) Product life cycle
(c) Family brands
(d) Marketing research

11. In which of the following do two or more organizations collaborate on a project for mutual gain?
(a) Limited partnership
(b) Joint venture
(c) Public corporation
(d) Strategic alliance

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