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

Q1Business & Commercial Knowledge

Which is a major security threat?

APrinter usageBWorms and virusesCOffice renovationsDFile naming errors

Q2Business & Commercial Knowledge

Revenues from sales of products or services should be the primary source of funding. But funds from sales don't always come in when required. TRUE or FALSE?

ATRUEBFALSECD

Q3Business & Commercial Knowledge

Which of the following is a goal of the government fulfilled by encouraging new businesses to set up?

AEarning profitBBusinesses reduce the country's unemploymentCPaying salaries of government employeesDInvestment in country's infrastructure

Q4Business & Commercial Knowledge

Expansion requires:

AShort-term financeBLong-term financeCTrade creditDFactoring

Q5Business & Commercial Knowledge

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

AScannerBPrinterCProjectorDLCD

Q6Business & Commercial Knowledge

T oil refinery in the country is leading the oil industry for the last decade. The reason behind this success is attributed to the strategic planning of the management in the strategic planning process.

AGoals, objectives and strategies should be decided with the aim of fulfilling the entity's purposeBDeveloping SMART goalsCStakeholders' analysis is key to successDAll of the above

Q7Business & Commercial Knowledge

In introduction phase the majority of cost is incurred in:

APromotionBQualityCBrandingDSelling

Q8Business & Commercial Knowledge

Which statement correctly identifies a factor that influences strategic decisions due to legal considerations?

AA company relocates to increase managerial flexibilityBA business moves operations because of new employment legislationCA sole proprietor changes business type to reduce secrecy concernsDA partnership expands because cooperatives require shared ownership

Q9Business & Commercial Knowledge

Ethical violations include:

AFair treatmentBTaking unfair advantageCHonest dealingDTransparency

Q10Business & Commercial Knowledge

During an interview one candidate was asked to define system. He referred it to input/output/processing/storage.

AAnswer Is correctBIncorrect answerCAns is input/output/processing/primary and secondary storageDAns is input/output/CPU/primary and secondary storage

Q11Business & Commercial Knowledge

In an office, secondment means being given second tasks…

ATrueBFalseCD

Q12Business Economics & Commercial Knowledge vol.2

Relationship between rate of inflation and rate of unemployment is presented by a diagram known as:

AL.R.A.S.BS.R.A.S.CAggregate demandDPhillips curve

Q13Business Economics & Commercial Knowledge vol.2

Which of the following is an appropriate government policy for closing a deflationary gap?

Aan increase in the rate of interestBan open market sale of bondsCan increase in government spendingDan increase in income tax

Q14Quantitative Aptitude & Business Economics

A car averages 20 km per litre. How many litres are required for a 300 km trip?

A60B25C15DNone of these

Q15Business Economics & Commercial Knowledge vol.2

The demand for a Factor of Production is called:

Aquantity demandBderived demandCfactor priceDcost of production

Q16Business Economics & Commercial Knowledge vol.2

An aggregate demand curve slopes downwards from left to right. One reason for this is that a reduction in the average price level will lead to

Aan increase in the real value of money balancesBan increase in interest ratesCa decline in the country's international competitivenessDthe expectation of further price falls

Q17Business Economics & Commercial Knowledge vol.2

Basic reason behind movement from M to N is:

Aa reduction in the real value of money balancesBa reduction in interest ratesCdomestic deflationDthe expectation of further price falls

Q18Business & Commercial Knowledge

Human resource selection is based on ability to do all HR functions in line with operational plans

ATrueBFalseCD

Q19Business & Commercial Knowledge

If all partners are running the firm, disputes are handled by SECP.

ATrueBFalseCD

Q20Business Economics & Commercial Knowledge vol.2

Which of the following statements is incorrect?

AIf cross elasticity of demand is equal to zero, the two products are neither complements nor substitutes.BCross elasticity of demand is measured by the percentage change in the price of good X divided by the percentage change in the quantity of good Y demanded.CA high positive cross elasticity of demand means that the two products are very close substitutes.DAll are incorrect

Q21Business Economics & Commercial Knowledge vol.2

Which of the following factors might cause cost-push inflation? Factor 1. Higher wage levies in domestic industries 2. Higher consumer spending 3. Higher Import prices

AFactor 1 onlyBFactors 1 and 2 onlyCFactors 1 and 3 onlyDFactors 2 and 3 only

Q22Business Economics & Commercial Knowledge vol.2

A good may be classed as _____________ if it causes positive externalities.

AMerit goodBDe-merit goodCPublic goodDPrivate good

Q23Business Economics & Commercial Knowledge vol.2

Frictional unemployment arises because of

Along term changes in the pattern of demandBdue to low expected wagesCtransitioning from one job to anotherDcertain industries regularly shedding labor at certain times of the year

Q24Business Economics & Commercial Knowledge vol.2

What is likely to be the effect of an oil price increase on the global economy?

Aa strengthening of demand inflationBa weakening of cost inflationCa decrease in the rate of growthDa decrease in unemployment

Q25Business & Commercial Knowledge

Debt increases:

AStabilityBBankruptcy riskCProfitsDControl

Q26Business & Commercial Knowledge

How can shareholders influence major business decisions?

ABy providing feedback on employee performanceBThrough voting rightsCBy managing day-to-day operationsDBy controlling the company's marketing strategy

Q27Business Economics & Commercial Knowledge vol.2

Quantity theory of money presented by eminent economist "Irving Fisher".

ATrueBFalseCD

Q28Business & 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

Q29Business Economics & Commercial Knowledge vol.2

Deflation is __________ indicator.

AGoodBRecessionaryCLeadingDLagging

Q30Business & Commercial Knowledge

DSS helps answer:

AWhat-if questionsBWho will win electionsCWhy sky is blueDWhen to sleep

Q31Business & Commercial Knowledge

Finance TPS example module:

ANominal ledgerBBeauty salonCStudent gradesDElectricity bill submission only

Q32Business & Commercial Knowledge

Limited companies have:

ASeparate legal identityBNo legal identityCShared identity with ownersDTemporary identity

Q33Business Economics & Commercial Knowledge vol.2

_________________would not lead to cost push inflation?

ARising import pricesBIncrease in wagesCIncreases in indirect taxationDHigh consumer expenditure such that aggregate demand exceeds aggregate supply

Q34Business & Commercial Knowledge

Before investing in IS, companies should perform:

AMarket surveyBCost-benefit analysisCStaff interviewDStaff training

Q35Business & Commercial Knowledge

Companies gain tax advantages on payment of large dividends to shareholders

ATrueBFalseCD

Q36Business & Commercial Knowledge

XYZ computers sold 10000 computers on credit. The finance manager is in negotiation with the bank to receive loan by surrendering the 10000 invoices to bank.

AXYZ will receive loan amount less than invoicesBXYZ will receive full loan but less than total invoicesCXYZ will pay interest on loanDXYZ will receive all invoices back after return of loan

Q37Business & Commercial Knowledge

TPS data can be from:

AInternal and external sourcesBOnly websitesCOnly customersDOnly government

Q38Business & Commercial Knowledge

Marketing focuses on many activities including _________ and that foster exchanges.

APlanning & PricingBBranding & BudgetingCMarketing & TransportingDSelling & Paying

Q39Business & Commercial Knowledge

The key activities of the financial manager include all of the following EXCEPT:

AInvestmentsBSupplier negotiationsCFinancial planningDFinancing

Q40Business Economics & Commercial Knowledge vol.2

If exports become more attractive to foreign firms then AD curve will shift leftward.

ATrueBFalseCD

Q41Business & Commercial Knowledge

Manager of F Food outlet is keen to serve customers with smile not because.

ACustomers are key stakeholdersBProfit is generated by continuous salesCIt is a legal complianceDEnvironment responsibility

Q42Business Economics & Commercial Knowledge vol.2

Keynesian aggregate supply curve is always:

AUpward to the rightBDownward to the rightCHorizontal & vertical after full employmentDVertical

Q43Business & Commercial Knowledge

Which of the following is not a factor to describe a target market segment?

ADemographyBGeographyCEqualityDSpecialty

Q44Quantitative Aptitude & Business Economics

Five years ago a product cost Rs.5,000 and the price index was 90. Today the price is Rs.7,500. The current price index is:

A135B140C40D125

Q45Business & Commercial Knowledge

Which of the following long-term debt instruments involving two parties- the borrower (issuer) and the lender (buyer or investor).

ALoanBStocksCLeaseDBonds

Q46Business & Commercial Knowledge

Bridal dresses are designed according to customer choices and interests. It is

AConvenience ProductBSpeciality ProductsCShopping productsDBranded Products

Q47Business & Commercial Knowledge

_____________ is the art and science of managing a company's funds so that it can meet its goals and objectives.

AFinancial accountingBFinancial auditCFinancial reportingDFinancial management

Q48Quantitative Aptitude & Business Economics

What is the present value of Rs.15,000 received at the end of the current year and next four years if the applicable rate is 7% per annum?

ARs.61,502.96BRs.64,502.96CRs.62,502.96DRs.63,502.96

Q49Business & Commercial Knowledge

Flat structure with wide span has:

AMany management levelsBFew management levelsCNo managementDComplex management

Q50Quantitative Aptitude & Business Economics

Compute the amount of pay needed in 2008 to provide buying power equal to that enjoyed in 2006.

ARs.10,300BRs.17,864CRs.17,684DNone of these

Q51Business Economics & Commercial Knowledge vol.2

Characteristic of good money is / are:

AGeneral acceptabilityBStability of valueCDurabilityDAll of the above

Q52Business Economics & Commercial Knowledge vol.2

Disposable income is the only variable that determines consumption.

ATrueBFalseCD

Q53Business Economics & Commercial Knowledge vol.2

In perfect competition AR = MR because:

AEach additional units of output producing higher revenueBEach additional unit of output is generating same revenueCFirms are price makersDNone of these

Q54Quantitative Aptitude & Business Economics

Average 5 trains per 3 hours. Find P(exactly 4 trains in 4 hours):

A0.1047B0.2047C0.3047D0.0047

Q55Business 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

Q56Fundamentals of Accounting

Mohtashim received 2-year rent Rs. 720k on 1 Mar 2022. Closed books 30 Jun 2022. Correct treatment for unearned rental income at 30 Jun 2022?

ARecognize Rs. 600k as current liabilityBRecognize Rs. 240k current, Rs. 360k non-current liabilityCRecognize Rs. 360k current, Rs. 240k non-current liabilityDRecognize Rs. 600k as non-current liability

Q57Business & Commercial Knowledge

Organizations having too many divisions can result in:

ACost increaseBGoal congruenceCMore market powerDEnhanced productivity

Q58Business & Commercial Knowledge

JF 786 is designed and developed by Pakistan Aeronautical experts and special advisors from SkyClear Jets company. SkyClear experts are working in a horizontal fashion to provide expert support to the new project. Which of the following statements characterize SkyClear:

AThe matrix organization is also called the project management approach of organizational structure.BIt combines functional and product departmentalization from Pakistan Aero…CEach employee has two direct supervisors: …DAll of the above

Q59Fundamentals of Accounting

Which statements about accounting and bookkeeping are correct?

ABookkeeping is performed daily rather than periodicallyBPreparation of financial statements is part of bookkeepingCAccounting relies on having accurate bookkeeping recordsDFinancial transactions are recorded by using bookkeeping

Q60Business Economics & Commercial Knowledge vol.2

The diagram shows the consumption function of a country. What would cause the consumption function to shift from C1 to C2. (i) The expectation of increase in G.S.T. (ii) The expectation of reduction in subsidies (iii) An increase in interest rates (iv) An increase in direct taxes

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

Q61Business Economics & Commercial Knowledge vol.2

Degree of shifting of tax burden is high in:

ADirect TaxationBIndirect TaxationCProgressive TaxationDProportional Taxation

Q62Business Economics & Commercial Knowledge vol.2

Which of the following statements best describes long run equilibrium in a market where there is monopolistic competition?

AMarginal revenue equals average cost.BThere is excess capacity in the industry since firms could reduce average costs by expanding output.CFirms will earn supernormal profits because price exceeds marginal cost.DPrice equals marginal cost, but does not equal average cost.

Q63Business & Commercial Knowledge

Which of the following is a tool of development?

ASecondmentBDelegationCAll of the aboveDNone of the above

Q64Business & Commercial Knowledge

The money a company receives by providing services or selling goods to customers:

ARevenueBCostCProfitDExpenses

Q65Business & Commercial Knowledge

Nomaal is hired in the customer services department… She is learning on the job via:

AApprenticeshipBCoachingCMentoringDWork shadowing

Q66Business & Commercial Knowledge

Decentralisation provides competitive advantage with environmental alignment of

AStrategic business unit GoalsBManagers decisionsCProject planningDResource management

Q67Quantitative Aptitude & Business Economics

A project yields a single return at end of 4 years which is four times the original investment. IRR of the project is:

A10%B21.42%C31.42%D41.42%

Q68Fundamentals of Accounting

Opening accrued salaries 22.5k, closing 25k, paid during year 312.5k. Which statement(s) correct?

ASalaries expense Rs. 310k in statement of CIBSalaries expense Rs. 315k in statement of CICAccrued salaries shown as current assetDAccrued salaries shown as current liability

Q69Fundamentals of Accounting

Entity with year end 31 Dec 2016, depreciation 10% straight line. Machine A (1 Jan 2014) Rs. 3M, Machine B (1 Apr 2015) Rs. 2M, Machine C (1 Jul 2016) Rs. 4M. Depreciation charge for 2016?

ARs. 600,000BRs. 628,000CRs. 700,000DRs. 900,000

Q70Business Economics & Commercial Knowledge vol.2

Which one of the following is not a function of a central bank?

AThe conduct of fiscal policyBManagement of the national debtCHolder of the foreign exchange reservesDLender of the last resort

Q71Fundamentals of Accounting

The list of non-current assets provided by trainee accountant which is given below: Furniture & Fixtures Rs. 110,000; Brand and Trade mark Rs. 300,000; Vehicle Rs. 750,000; Inventory Rs. 100,000. The total of tangible non-current assets are:

ARs. 1,260,000BRs. 1,160,000CRs. 860,000DRs. 750,000

Q72Quantitative Aptitude & Business Economics

AP: T₃=7, T₇ = 2 more than 3 times T₃. Sum of first 20 terms:

A228B74C740D1090

Q73Fundamentals of Accounting

The terms accounting and book keeping are classified as

ASameBDifferentCOppositeDNone of these

Q74Business Economics & Commercial Knowledge vol.2

The multiplier principle explains how investment in capital goods responds disproportionately to changes in consumer demand.

ATrueBFalseCD

Q75Business & Commercial Knowledge

Which is owned capital?

ABank loanBEquity capitalCDebenturesDOverdraft

Q76Business & Commercial Knowledge

What are the key activities of the financial manager?

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

Q77Business & Commercial Knowledge

Which of the following statement is true in testing ethical decision-making for a project?:

ASelect only if mirror test is clearedBSelect without considering mirror testCSelect if legality is not obvious but can find a consultant to fix it.DSelect if primary objective of shareholders' value maximisation is certain ignoring mirror test

Q78Business & Commercial Knowledge

A key to a successful virtual organization is the effective management of all the different internal relationships, and co-ordination of their activities

ATrueBFalseCD

Q79Business & Commercial Knowledge

Which of the following is NOT a feature of preference shares?

AMost preference shares are issued with a fixed rate of annual dividendBPreference dividends are paid out of gross profitCPreference shareholders will be entitled to receive dividends out of profits before any remaining profit can be distributed to equity shareholdersDIf the company goes into liquidation, preference shareholders are paid before equity shareholders

Q80Business Economics & Commercial Knowledge vol.2

Given diagram depicts:

ADemand pull inflationBCost push inflationCHyper inflationDNone of the above

Q81Quantitative 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

Q82Quantitative Aptitude & Business Economics

A certain sum of money at simple interest amounts to Rs. 1,012 in 2 years and to Rs. 1,067.2 in 4 years. The rate of interest per annum is:

A2.5%B2.88%C3.20%D5%

Q83Business Economics & Commercial Knowledge vol.2

The rate of interest that is inflation adjusted is known as:

ANominal rate of interestBReal rate of interestCBank rateDDiscount rate

Q84Fundamentals of Accounting

The balances of cash book and bank statement were not reconciled as at December 31, 2022. On investigation, following matters were highlighted: 1. Bank charges of Rs. 1,500 were recorded in cash book as Rs. 5,100. 2. Direct credit of Rs. 1,900 after 10% tax deduction was not recorded in cash book. 3. Unpresented cheques of Rs. 12,400 and uncredited cheques of Rs. 15,200 correctly identified by accountant. The difference between cash book and bank statement balance as at December 31, 2022 was:

ARs. 8,400BRs. 8,300CRs. 2,800DRs. 2,700

Q85Business & Commercial Knowledge

General Motors with Buick, Cadillac divisions has:

AFunctional structureBProduct divisional structureCGeographic structureDMatrix structure

Q86Business & Commercial Knowledge

The first step in a company's security strategy is:

AHiring IT staffBCreating written security policiesCBuying new laptopsDInstalling CCTV cameras

Q87Business Economics & Commercial Knowledge vol.2

An equal rise in government purchases and taxes raises output.

ATrueBFalseCD

Q88Business Economics & Commercial Knowledge vol.2

Which of the following is a microeconomics question?

AIs it sensible for a government to subsidize tobacco production?BWhy do some countries grow faster than others?CShould Congress and the president take action to reduce global warming?DShould the government attempt to influence the interest rate to lower inflation?

Q89Business & Commercial Knowledge

A corporation is a:

ALegal entityBInformal arrangementCTemporary structureDPersonal business

Q90Business Economics & Commercial Knowledge vol.2

In a closed economy with no government sector, C = 30+ 0.7 Y, where C is consumption and Y is income. The equilibrium level of income is 300. What is the level of investment?

A60B100C210D270

Q91Quantitative Aptitude & Business Economics

____ is a mathematical method for determining a way to achieve the best outcome (such as maximum profit or lowest cost) subject to a number of limiting factors (constraints).

AGeometric progressionBQuadratic formulaCLinear programmingDSampling

Q92Business & Commercial Knowledge

Large firms use:

AQuickBooksBSAP S/4HANA and Oracle ERPCOnly local softwareDManual ledgers

Q93Fundamentals 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

Q94Business Economics & Commercial Knowledge vol.2

A firm will shut-down its business

AIt faces normal lossBIt earns zero profitCA.V.C. > A.R.DA.C. > A.R.

Q95Quantitative Aptitude & Business Economics

Which is more in present value terms if interest rate is 16% per annum compounded annually? i. Rs 5,000 one year from now. ii. Rs 10,000 in three years from now. iii. Rs, 15,000 in two years from now. iv. Rs 20,000 in four years from now.

AiBiiCiiiDiv

Q96Business 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

Q97Business Economics & Commercial Knowledge vol.2

When rate of interest falls, the bond price rises.

ATrueBFalseCD

Q98Business & Commercial Knowledge

Equity financing has:

ANo riskBHigher risk & higher returnCGuaranteed profitDFixed repayment

Q99Business & Commercial Knowledge

Work relationships that affect employee retention include supervisory management support and _____________. A supervisor or manager builds positive relationships and aids retention by being fair and____________, allowing work flexibility and work-family balancing, giving feedback that recognizes employee efforts and performance, and supporting career planning and development.

ACo-worker relations, non-discriminatoryBEducation, knowledgeCRoles, responsibilityDAuthority, responsibility

Q100Business & Commercial Knowledge

Limited liability protects:

ABusiness assets onlyBPersonal assetsCCustomer interests onlyDGovernment interests only

Q101Fundamentals of Accounting

Double entry for "cash received from supplier against goods returned after clearance of account":

ADr. Purchase Returns and Cr. CreditorsBDr. Creditors and Cr. Purchase ReturnsCDr. Creditors and Cr. CashDDr. Cash and Cr. Purchase Returns

Q102Fundamentals of Accounting

. X Ltd rents its building to Y Ltd. At 31st December 2018, Y Ltd owed Rs. 4,500 for rent, but at 31st December 2019, had paid Rs. 3,200 in advance. During the year X Ltd had received Rs. 17,100 in rental from Y Ltd. What is the rental income to be shown in the Statement of Profit or Loss of X Ltd for the year ended 31st December 2019?

ARs. 9400BRs. 9400CRs. 17100DRs. 24800

Q103Quantitative Aptitude & Business Economics

A quadratic equation is one which takes the form:

Ay = mx + cBy = ax^2 + bx + cCy = ax^3 + bx^2 + cDAny of the above

Q104Business Economics & Commercial Knowledge vol.2

Money does not function as a:

AMedium of exchangeBHedge against inflationCStore of valueDMeasure of value

Q105Business & Commercial Knowledge

Select two Factors of productions which constitute people.

ALaborBEntrepreneurshipCBoard of directorsDCEO

Q106Business Economics & Commercial Knowledge vol.2

Inflationary gap represents when

AAggregate demand exceeds over production potential of the economyBAggregate demand exceeds over the firm's expectationsCAggregate supply remains less than in aggregate supply in short runDAggregate supply exceeds over aggregate demand in short run

Q107Business Economics & Commercial Knowledge vol.2

Resources allocation refers to the apportionment:

AConsumer's incomeBProductive capacityCFactors of productionDRaw materials

Q108Business Economics & Commercial Knowledge vol.2

Which statement most correctly describes merit goods in an economy?

AThey are over producedBThey are non-exclusiveCThey are under-provided in the free market economyDThey are indivisible

Q109Business & Commercial Knowledge

Clubs and societies have:

AProfit and loss accountsBIncome and expenditure accountsCBalance sheets onlyDNo accounts

Q110Quantitative Aptitude & Business Economics

Mr. X borrowed Rs.5,120 at 12.5% p.a. CI. At end of 3 years money was repaid. Amount of interest paid is:

ARs.2,100BRs.2,170CRs.2,000DNone of these

Q111Quantitative Aptitude & Business Economics

If a constant is added to each observation, variance will:

AIncrease by that constantBDecrease by that constantCRemain unchangedDNone of these

Q112Business Economics & Commercial Knowledge vol.2

Working direction of multiplier and accelerator is always:

ADifferentBSameCNeutralDNone of the above

Q113Business & Commercial Knowledge

Partnership advantage over sole proprietorship is:

ALess regulatory burdenBMore ability to raise fundsCLimited liabilityDTax benefits

Q114Business Economics & Commercial Knowledge vol.2

The graph of a supply schedule which has a price elasticity of supply equal to 1 will be:

Aa rectangular hyperbolaBany straight line drawn through the originCstraight line drawn through the origin at 90 degreesDa vertical line

Q115Quantitative Aptitude & Business Economics

The current year weighted index is 5% higher than the base year index and Fisher's ideal index is 250. Laspeyre's and Paasche's price indices are:

A243 and 256B244 and 256C243 and 255DNone of these

Q116Business Economics & Commercial Knowledge vol.2

A flat fee of PTV of Rs. 35 included in electricity bill is an example of

ARegressive taxBProgressive taxCProportional taxDCorporate tax

Q117Business & Commercial Knowledge

Wheat is sold by various growers and wholesalers irrespective of specific needs and wants. This is referred to as a total market approach. An opposite approach is called:

AMarket segment approachBMarket penetration approachCTotal market approachDNiche market approach

Q118Fundamentals of Accounting

Staff salary remaining unpaid at year-end should be accounted for as:

APrepaid salary (debit) and Staff salary expense (credit)BStaff salary expense (debit) and Cash (credit)CAccrued Salary (debit) and Staff salary expense (credit)DStaff salary expense (debit) and Accrued salary (credit)

Q119Business & Commercial Knowledge

Shareholders in PMED (a public limited company) can vote in meetings, on various matters they are called

AOwners of the companyBPartners of the companyCExecutives of the companyDDirectors of the company

Q120Business Economics & Commercial Knowledge vol.2

Coal is used as a source of energy in many manufacturing processes. Assume a long strike by coal miners reduced the supply of coal and increased the price of coal. This would cause:

AThe short-run aggregate supply curve to shift to the right.BThe short-run aggregate supply curve to become flatter.CThe short-run aggregate supply curve to shift to the left.DThe short-run aggregate supply curve to become nearly vertical at all levels of output

Q121Quantitative Aptitude & Business Economics

Find the future value of an annuity of Rs.500 for 7 years at 14% compounded annually.

ARs.5,465.35BRs.5,565.35CRs.5,365.35DRs.5,665.35

Q122Business Economics & Commercial Knowledge vol.2

Demand curve for Normal goods is downward sloping to the right because of:

APrice effectBIncome effectCSubstitution effectDAll of above

Q123Fundamentals of Accounting

Which type of error occurs when a transaction is completely omitted from the books of accounts?

AError of PrincipleBError of CommissionCError of OmissionDCompensating Error

Q124Business & Commercial Knowledge

Integrity in professional relationships means:

AHonest dealingsBDeceptionCManipulationDHidden agendas

Q125Business & Commercial Knowledge

Motivation enhances employee _____.

AAbsenteeismBCommitmentCStressDTurnover

Q126Business Economics & Commercial Knowledge vol.2

The 'law of diminishing returns' can apply to a business only when

Aall factors of production can be varied.Bat least one factor of production is fixed.Call factors of production are fixed.Dcapital used in production is fixed.

Q127Business Economics & Commercial Knowledge vol.2

According to Keynes, which one of the following is very sensitive to changes in interest rates?

AThe supply of moneyBThe speculative demand for moneyCThe precautionary demand for moneyDThe transactions demand for money

Q128Business Economics & Commercial Knowledge vol.2

During Covid-19 the multiplier effect was be:

ASmallerBGreaterCSame as before Covid-19DHave no effect

Q129Quantitative Aptitude & Business Economics

Comment on the correlation between Age (years) and Price (dollars).

AStrong NegativeBStrong Positive cCPerfect positiveDModerate negative

Q130Fundamentals of Accounting

Opening receivables 100k, allowance 5k. Bad debts written off 4k, closing receivables 120k, recovered 3k. Same allowance %. Net amount to statement of CI?

ARs. 2,000 Dr.BRs. 2,000 Cr.CRs. 8,000 Dr.DRs. 8,000 Cr.

Q131Business Economics & Commercial Knowledge vol.2

An increase in saving will always act to the benefit of a country.

ATrueBFalseCD

Q132Quantitative 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

Q133Business & Commercial Knowledge

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

AEthicsBBusiness EthicsCLegal EthicsDCorporate Social Responsibility

Q134Fundamentals of Accounting

Which of the following is not a business transaction?

AIncurring interest on a business loanBHiring a new employeeCPurchasing office suppliesDReceiving fees for services

Q135Business Economics & Commercial Knowledge vol.2

When diminishing returns begin to operate, the total variable cost curve will start to

Afall at an increasing rateBrise at a decreasing rateCfall at a decreasing rateDrise at an increasing rate

Q136Fundamentals of Accounting

Hamid's inventory at December 31, 2018: Product A Cost Rs. 15,000, NRV Rs. 17,000; B Cost Rs. 12,000, NRV Rs. 10,000; C Cost Rs. 13,500, NRV Rs. 11,000; D Cost Rs. 12,600, NRV Rs. 14,000. Total Cost Rs. 53,100, Total NRV Rs. 52,000. What value should be shown in Statement of Financial Position?

ARs. 48,600BRs. 50,600CRs. 52,000DRs. 53,100

Q137Business & Commercial Knowledge

The marketing mix consists of:

AProduct, Price, Place, PromotionBProduct onlyCSales targets onlyDDistribution only

Q138Business Economics & Commercial Knowledge vol.2

Which of the following measures is likely to boost a country's rate of economic growth?

ATax cutsBReduction in tax rebatesCReduce import dutiesDDecrease in government spending

Q139Business Economics & Commercial Knowledge vol.2

Weightings in the Retail Price Index for country T for the year 1992 were as follows: From this, we can conclude that Food 317 Health 63 Transport and Vehicles 82 Utilities and fuel (water, gas etc) 75 Clothing 116 Housing 109

Apeople placed more value on transport than on housingBpeople ate more by volume than they spent on healthCspending on food has risen faster than spending on any other categoryDpeople spent a greater proportion of their income on clothing than they spent on any other head

Q140Business & Commercial Knowledge

Decentralization helps in:

AMotivating managersBReducing responsibilityCAvoiding decisionsDIncreasing control

Q141Business & Commercial Knowledge

Protecting confidential information maintains:

ATrustBDistrustCTransparencyDPublicity

Q142Fundamentals of Accounting

Owner's annual life insurance premium paid from business bank account will be:

ADebited to insurance account and Credited to bank accountBDebited to bank account and Credited to drawings accountCDebited to bank account and Credited to insurance accountDDebited to drawings account and Credited to bank account

Q143Fundamentals of Accounting

Which account should be credited for Rs.180000 when writing off the account?

AAccounts receivableBAllowance for doubtful debtsCBad debts expenseDNone of the above

Q144Business Economics & Commercial Knowledge vol.2

If interest rate rises, the market price of fixed interest investments such as bonds will fall.

ATrueBFalseCD

Q145Quantitative Aptitude & Business Economics

Feasible region is a:

ARegion which satisfies all given constraintsBRegion which is in first quadrantCRegion above the last mentioned constraintDAlways below all constraints

Q146Quantitative Aptitude & Business Economics

The probability of two non-independent events if the event A occurs first is:

AP(A intersection B)BP(A) x P(B)CP(A) x P(B/A)DNone of these

Q147Quantitative Aptitude & Business Economics

Correlation between x and y is 0.2. Find correlation between u and v where 2u + 4x + 5 = 0 and 3v - 16y = 10.

A0.2B−0.2C0.36DNone

Q148Fundamentals 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

Q149Business 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

Q150Fundamentals of Accounting

Which shall not be shown in receivables ledger account?

ACredit salesBCheques collected from customersCCash sales returnsDCash sales

Q151Fundamentals of Accounting

Which combination represents assets only?

ADebtors, Purchases, Cash in HandBBuilding, Cash at Bank, InvestmentsCCreditors, Insurance, TaxDBank Overdraft, Equipment, Cash in Hand

Q152Business Economics & Commercial Knowledge vol.2

The diagram shows the consumption function given that the level of income is O𝑌̅ what does the distance ̅𝐴𝐵̅̅̅ represents,

AAutonomous consumptionBInduced consumptionCA.P.CDDissaving

Q153Quantitative Aptitude & Business Economics

Which inequality represents the set of integers 6, 7, 8 and 9?

A6 < x < 9B6 ≤ x ≤ 9C6 < x ≤ 9D6 ≤ x < 9

Q154Fundamentals of Accounting

Which is NOT a benefit of providing credit to customers?

AMay result in enhancing salesBEnhancing customer loyaltyCAttracts new customersDImproves cash flow of business

Q155Fundamentals of Accounting

Which are part of accounting cycle or accounting process?

ATransactionsBExternal AuditCLedgersDBusiness Tax Returns

Q156Fundamentals of Accounting

Accrued income 30 Jun 22: 41.5k, Income received: 478.6k, Income credited to P&L: 496.3k. Balance at 30 Jun 21?

AUnearned income Rs. 23,800BAccrued income Rs. 23,800CUnearned income Rs. 59,200DAccrued income Rs. 59,200

Q157Fundamentals of Accounting

Cash discount received is recorded:

AAs deduction in purchase day bookBIn purchase return journalCAs deduction from cost of purchase in general journalDNone of above

Q158Quantitative Aptitude & Business Economics

AP and GP share same first two terms. GP T₃=20, AP T₂=10. Compute AP 4th term:

A5B10C15D20

Q159Quantitative Aptitude & Business Economics

A complete list that gives the probabilities associated with each value of a random variable x is called:

AFrequency distributionBProbability distributionCExpected valueDNone of these

Q160Quantitative Aptitude & Business Economics

Which of the following are correct? (1) Weighted AM considers relative importance of each item (2) Geometric mean is useful for average growth rates (3) CV is an absolute measure

A(1) and (2) onlyB(2) and (3) onlyC(1) and (3) onlyDAll three

Q161Fundamentals of Accounting

Which of the following is NOT the reason for difference in cash book and bank statement balances?

ACheque of Rs. 15,000 returned from customer, but not recorded in cash bookBBank charges of Rs. 2,500 were debited in bank statement of which Rs. 1,750 were not related to our account. Bank charges of Rs. 2,500 were recorded in cash bookCPayment of Rs. 12,500 was recorded on debit side of cash bookDStanding order payment of Rs. 12,000 was omitted in cash book

Q162Quantitative Aptitude & Business Economics

Values of x for X^2 - 28X + 195 = 0:

A10 and 15B13 and 15C14 and 15D13 and 16

Q163Quantitative Aptitude & Business Economics

Which of the following will have highest future value/sum?

ARs. 100,000 invested at 10% simple interest for 4 yearsBRs. 250,000 invested at 8% simple interest for 3 yearsCRs. 300,000 invested at 10% simple interest for 2 yearsDRs. 100,000 invested at 12% simple interest for 3 years

Q164Fundamentals of Accounting

Company recorded credit sales invoice Rs. 45,000 as Rs. 54,000. What is appropriate entry for the error of Rs. 9,000?

AAdd Rs. 9,000 to its Cash accountBSales (Dr) and Receivable (Cr) with Rs. 9,000CReceivable (Dr) and Sales (Cr) with Rs. 9,000DNone of the above

Q165Fundamentals of Accounting

Posting for total of discount received column of cash book is made in:

AReceivables ledgerBPayables ledgerCTrial balanceDGeneral ledger

Q166Fundamentals of Accounting

The periodic total from sales return journal is posted to:

Acredit side of individual customer account in Receivables Ledger.Bdebit side of individual customer account in Receivables Ledger.Ccredit side of sales return account in General Ledger.Ddebit side of sales return account in General Ledger.

Q167Business Economics & Commercial Knowledge vol.2

Which one of the following is a basic economic problem?

AUnlimited Wants and Scarce ResourcesBLower Incomes and Higher Indirect TaxesCUnemployment and InflationDRecession

Q168Fundamentals of Accounting

The two objectives of trial balance are:

ATo check arithmetic accuracy of accountsBTo provide framework for preparation of financial statementsCTo ensure financial statements are free of errors and biasnessDNone

Q169Fundamentals of Accounting

Javed received cheque Rs. 10,000 from customer, deposited, bank returned due to insufficient funds. Which book to record dishonour?

ASales day bookBSales return day bookCCash bookDGeneral journal

Q170Fundamentals of Accounting

Equipment ordered for Rs. 800,000 with 20% advance on 22nd Feb. Delivered on 4th March when entity paid 50% of amount due and promised remaining on 25th April. Journal entry on 4th March?

ADebit Equipment Rs. 800,000; Credit Advance Rs. 160,000 & Bank Rs. 400,000 & Payables Rs. 240,000BDebit Equipment Rs. 800,000; Credit Advance Rs. 160,000 & Bank Rs. 740,000CDebit Equipment Rs. 800,000; Credit Advance Rs. 160,000 & Bank Rs. 320,000 & Payables Rs. 320,000DDebit Equipment Rs. 800,000; Credit Advance Rs. 160,000 & Payables Rs. 640,000

Q171Fundamentals of Accounting

Purchase of fuel for the car is capitalised to motor vehicles. It is a type of

AError of postingBError of omissionCError of principleDCompensating errors

Q172Fundamentals of Accounting

Purchases Rs. 105,950,000. Goods withdrawn for personal use Rs. 4,000,000 not recorded. Purchases in statement of comprehensive income?

ARs. 105,950,000BRs. 4,000,000CRs. 101,950,000DRs. 109,950,000

Q173Fundamentals of Accounting

The following is extract of trial balance of Irha & Co. as at June, 2022. Cost of sales 1,525,000 (Dr); Administration expenses 415,000 (Dr); Revenue 2,480,000 (Cr); Selling & Distribution expenses 376,000 (Dr); Other expenses and income: 116,000 (Dr) and 85,500 (Cr). The net profit for the year ended 30 June 2022 was:

ARs. 133,500BRs. 164,000CRs. 194,500DRs. 280,000

Q174Fundamentals of Accounting

Sold on credit: Abid Rs. 25,000, Sajid Rs. 15,000. Cash sales to Nadir Rs. 20,000. Bought from Javed on credit Rs. 15,000. Balance of list of customers from receivable ledgers?

ARs. 75,000BRs. 60,000CRs. 55,000DRs. 40,000

Q175Fundamentals of Accounting

Nasir Limited pays internet bills for Jan-Jun 2022 in subsequent month equally. Paid till 30 Jun Rs. 181k. Amount for statement of CI and FP at 30 Jun 2022?

AIncome: 181k expense, Position: 36.2k accruedBIncome: 181k expense, Position: 36.2k prepaidCIncome: 217.2k expense, Position: 36.2k accruedDIncome: 217.2k expense, Position: 36.2k prepaid

Q176Quantitative Aptitude & Business Economics

Fisher price index is computed by taking the ______ of the product of the Paasche index and the Laspeyre index.

ACube rootBSquare rootCArithmetic meanDFourth root

Q177Quantitative Aptitude & Business Economics

If z=-2, mu=17 and sigma^2=64 then x=

A+1B−17C+17DNone of these

Q178Quantitative Aptitude & Business Economics

Discount factor can be calculated by dividing present value by ____.

ARate of interestBNumber of yearsCFuture valueDNone of the above

Q179Quantitative Aptitude & Business Economics

If bxy = +1.93 and byx = 0.6, then r is equal to:

A1.158B1.0761CData is fictitiousDNone of these

Q180Quantitative 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

Q181Fundamentals of Accounting

Which statement(s) is/are correct in relation to 'chart of accounts'?

AEach general ledger identified by unique code and headingBChart can be changed anytime by accounting personnel without approvalCAim is to ensure transactions recognized per business requirementsDEach major heading given a range of codes for individual accounts

Q182Quantitative Aptitude & Business Economics

Three horses A, B and C are in a race. A is twice as likely to win as B and B is three times as likely to win as C. The probability that A wins is:

A3/5B3/7C6/7DNone of these

Q183Fundamentals of Accounting

Receivables ledger balance Rs. 820 to be set off against payables ledger Rs. 280. Journal entry for contra settlement with:

ARs. 820BRs. 280CRs. 540DRs. 1,100

Q184Quantitative Aptitude & Business Economics

Rank correlation between x and y = 0.6. Sum of squared rank differences = 8. Find number of pairs.

A6B5C3DNone

Q185Business Economics & Commercial Knowledge vol.2

Trade credit 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.

ATrueBFalseCD

Q186Quantitative Aptitude & Business Economics

A three-year bank deposit will yield 17% in total on initial investment. If the total maturity value at the end of third year is Rs. 936,000, find the amount invested initially.

ARs. 584,410BRs. 484,410CRs. 800,000DRs. 700,000

Q187Business Economics & Commercial Knowledge vol.2

A business currently sells 20,000 units of its product per month, at a price of Rs. 10 per unit. The product has a price elasticity of – 0.8. If price rise by 5% then

ANew price will be Rs 15BNew sales will be 19200 unitsCNew sales will be 22000 unitsDTotal revenue from the product will increase by 40,000

Q188Business Economics & Commercial Knowledge vol.2

As the interest rate decreases, the planned aggregate expenditure curve shifts downward.

ATrueBFalseCD

Q189Fundamentals of Accounting

Loss of stock Rs. 80k, 70% recovered from insurance, under perpetual system. Double entry?

ADr. Abnormal Loss 24k; Cr. Inventory 24kBDr. Cash 56k; Dr. Abnormal Loss 24k; Cr. Inventory 80kCDr. Abnormal Loss 24k; Cr. Purchases 24kDDr. Cash 56k; Dr. Abnormal Loss 24k; Cr. Purchases 80k

Q190Quantitative Aptitude & Business Economics

Considering binomial distribution, variance divided by mean results in:

AStandard deviationBProbability of failureCProbability of successDNumber of trials

Q191Fundamentals of Accounting

A sale of Rs. 1,000 had been passed through the Purchase Day Book. The customer's account has, however, been correctly debited. What TWO of the following are true?

AProfit will increase by Rs. 2,000BSuspense account must be debited by Rs. 2,000CThere will be no effect on profit (on net basis)DSuspense account must be debited by Rs. 1,000

Q192Fundamentals of Accounting

Cash book Rs. 35,000 Dr, Bank statement Rs. 32,500 Cr. Difference: Uncleared lodgements Rs. 2,500. What amount to report in Statement of Financial Position?

ARs. 35,000 Cash at bankBRs. 35,000 OverdraftCRs. 32,500 Cash at bankDRs. 32,500 Overdraft

Q193Quantitative Aptitude & Business Economics

Lower quartile (Q1) is equal to the:

A30th PercentileB25th DecileC25th PercentileD50th Percentile

Q194Quantitative Aptitude & Business Economics

If P(A) = 0.2, P(B) = 0.3 and P(A or B) = 0.5, then A and B are:

AMutually exclusiveBIndependentCDependentDNone of these

Q195Quantitative 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

Q196Fundamentals of Accounting

Each payment other than those to suppliers 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

Q197Fundamentals of Accounting

At 31 October 2004, insurance expense includes an amount of Rs. 1,500 paid in advance but no period-end adjustment entry has been recorded. What is effect of correcting this error on gross profit and net profit?

AGROSS PROFIT: Increase by Rs. 1,500 and NET PROFIT: Increase by 1,500BGROSS PROFIT: Decrease by Rs. 1,500 and NET PROFIT: Decrease by Rs. 1,500CGROSS PROFIT: No effect and NET PROFIT: Increase by Rs. 1,500DGROSS PROFIT: Decrease by Rs. 1,500 and NET PROFIT: No effect

Q198Fundamentals of Accounting

The total of debit side of an account is Rs.16000 and total of credit side is Rs.22000. The balance carried forward shall be written:

AOn left side Rs.6000BOn right side Rs.6000COn left side Rs.38000DOn right side Rs.38000

Q199Fundamentals of Accounting

Mujahid overlooked accrued expense Rs. 37.8k and accrued income Rs. 16.3k. Impact on profit?

AProfit understated by Rs. 21,500BProfit overstated by Rs. 21,500CProfit understated by Rs. 54,100DProfit overstated by Rs. 54,100

Q200Fundamentals 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

Q201Fundamentals of Accounting

Drawings Rs. 30,500. Son's salary Rs. 150k per month included in drawings. Amount of drawings in financial position?

ARs. 30,500BRs. 30,350CRs. 32,300DRs. 28,700

Q202Fundamentals of Accounting

Zohaib purchased Rs. 50,000 from Shadab on 21 Jan, terms 2/10, n/30. Paid by cheque 3 Feb. Purchased Rs. 20,000 on 20 Feb, same terms. Opening and closing balances of Shadab account for February?

AOpening: 49,000, Closing: 20,000BOpening: 50,000, Closing: 20,000COpening: 50,000, Closing: 19,600DOpening: 49,000, Closing: 19,600

Q203Fundamentals of Accounting

Which TWO statements are correct?

AReceivables shown in FP after deducting allowanceBReceivables shown gross, allowance charged to P&LCIncrease in allowance charged as expense in P&LDCredit limit and aged analysis are interchangeable

Q204Fundamentals of Accounting

Balance of cash book of Rizwan Traders as at 30 November 2022 was Rs. 118,200, which was not reconciled with balance of bank statement. The following differences were identified: 1. Cheque of Rs.14,300 was issued to supplier, but recorded as Rs. 13,400 in cash book. 2. A page total of payment side of the bank book amounting to Rs. 9,000 was carried forward to the next page as Rs. 8,000. 3. A cheque of Rs. 4,000 issued to a supplier bearing an incorrect payee's name. The cheque was returned and recorded on 5 January 2023. 4. Bank charges of Rs. 1,250 were erroneously charged to our account. The corrected cash book balance as at 30 November 2022 shall be:

ARs. 122,100BRs. 122,300CRs. 121,550DRs. 120,300

Q205Quantitative Aptitude & Business Economics

Find the equation of a line which passes through the points (2,1) and (4,9):

Ay=4x-7By=2x+7Cy=6x-7Dy=4x+7