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Accounting and Auditing MCQs MCQs

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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Environmental Science MCQs MCQs

Environmental Science MCQs | Sustainable Development Issues (Set-III)

Which fossil fuel is formed from swamp plants that lived millions of years ago?
(a) Coal
(b) Nuclear
(c) Methane
(d) Natural gas
(e) Petroleum (crude oil)
Answer: (a)

The best place to build a solar power plant would be in a….
(a) Desert area with 40% annual average sunshine.
(b) Forested area with 70% annual average sunshine.
(c) Forested area with 40% annual average sunshine.
(d) Flat open area with 40% annual average sunshine.
(e) Flat open area with 70% annual average sunshine.
Answer: (e)

Areas with geothermal resources include ….
(a) Large lakes that flow into rivers.
(b) Large mountain ranges and forests.
(c) Large tidal ranges and shallow water.
(d) High wind velocities and open space areas.
(e) Geysers, fumaroles, hot springs, and volcanoes.
Answer: (e)

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MCQs Political Science MCQs

Political Science MCQs for CSS | John Locke MCQs

According to John Locke the worst form of Government is: (CSS-2005)
(a) Monarchy
(b) Aristocracy
(c) Democracy
(d) None of these
Answer: (c)

Which one of the following political thinkers was the first exponent of the liberal theory of States?
(a) John Locke
(b) T.H. Green
(c) Jean Jacques Rousseau
(d) Hobbes
Answer: (a)

Which one of the following political thinkers was the first exponent of the liberal theory of States?
(a) John Locke
(b) T.H. Green
(c) Jean Jacques Rousseau
(d) Hobbes
Answer: (a)

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CSS Optional subjects CSS Optional Subjects MCQs MCQs Solved CSS Past Papers

History of Indo-Pak CSS Paper 2013 (Solved MCQs) | Download in PDF

1. Which was the capital of Ummayyads at the time of Muhammad bin Qasim’s invasion?
(a) Baghdad
(b) Kufa
(c) Damascus
(d) None of these
Answer: (c)

2. Which city was named as the city of gold by Arabs during Bin Qasim’s invasion of Sindh?
(a) Debul
(b) Multan
(c) Brahman abad
(d) None of these
Answer: (b)

3. To which Silsila Sheikh Bahauddin Zakriya Multani belongs?
(a) Chishtiya
(b) Suharwardia
(c) Qadriya
(d) None of these
Answer: (b)

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Accounting and Auditing MCQs MCQs

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

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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Accounting and Auditing MCQs MCQs

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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Accounting and Auditing MCQs MCQs

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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Accounting and Auditing MCQs 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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Environmental Science MCQs MCQs

Environmental Science MCQs | Sustainable Development Issues (Set-II)

Which of the following is not a trend in urban population dynamics?
(a) The number and sizes of urban areas is mushrooming.
(b) Urban growth is much slower in developed countries than developing countries.
(c). Infrastructure is beginning to catch up with the need in developing countries.
(d) Poverty is becoming increasingly urbanized, especially in developing countries.
(e) The proportion of global population living in urban areas is increasing.
Answer: (c)

Which of the following statements is false?
(a) Children in cities have a better chance for education.
(b) Politicians avoid giving services to the poor because this is costly to the cities.
(c) Jobs are difficult to find in cities.
(d) People tend to have more children in urban than in rural environments.
(e) Politicians avoid giving services to the poor because this might attract more people.
Answer: (d)

Which of the following statements is false?
(a) The shift in poverty is moving rapidly from the city to the country.
(b) Developing countries are currently urbanizing faster than developed countries.
(c) Urbanization varies throughout the world but is increasing everywhere.
(d) The general population growth also contributes to urban growth.
(e) The shift in poverty is moving rapidly from the country to the city.
Answer: (a)

To qualify as a metropolitan area, a city must have a population of ____ people.
(a) 25,000
(b) 50,000
(c) 75,000
(d) 100,000
(e) 250,000
Answer: (b)

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Environmental Science MCQs MCQs

Environmental Science MCQs (History of Environmental Thought) Set-II

Read also: History of Environmental Thought MCQs | Environmental Science MCQs

Name the author of Silent Spring
(a) Marvin Gaye
(b) Rachel Carson
(c) Lyndon Johnson
(d) Gaylord Nelson
Answer: (b)

What is sustainable development?
(a) The development that meets the needs of the present without compromising the ability of future generations to meet their own needs.
(b) To conserve natural resources and to develop alternate sources of power while reducing pollution and harm to the environment.
(c). It is the practice of developing land and construction projects in a manner that reduces their impact on the environment by allowing them to create energy efficient models of self-sufficiency.
(d). All of the above
Answer: (d)

Which of the following is correct, if we only achieve two out of three pillars of Sustainable Development?
(a) Social + Economic Sustainability = Equitable
(b) Social + Environmental Sustainability = Bearable
(c) Economic + Environmental Sustainability = Viable
(d) All of the above
Answer: (d)

Consider the following statement(s) related to the Sustainability.
(a) It refers to a process or state that can be maintained indefinitely.
(b) Natural resources must use in ways that do not create ecological debts by over exploiting the carrying and productive capacity of the earth.
(c) A minimum necessary condition for sustainability is the maintenance of the total natural capital stock at or above the current level.
(d) All of the above
Answer: (d)