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

Q1Quantitative 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

Q2Fundamentals of Accounting

The main aim of financial accounting is to:

ARecord all transactions in the books of account.BProvide management with detailed analyses of costs.CPresent the financial results of an organization by mean of financial statements.DCalculate profit.

Q3Business 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

Q4Fundamentals of Accounting

The total of debit side of an account is Rs.60000 and total of credit side is Rs.22000. The balance brought forward shall be written after balancing the account:

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

Q5Quantitative Aptitude & Business Economics

The object function for above feasible region is Profit = 500x + 400y. What is the maximum achievable profit for the company.

A10,000B25,000CUnlimitedDDepends upon units produced

Q6Fundamentals of Accounting

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

A20%B30%C50%D70%

Q7Business Economics & Commercial Knowledge vol.2

Which of the following always rise when a manufacturing business increases its output?

A(i) fixed costsB(ii) marginal costC(iii) average variable costD(iv) total costs

Q8Business & Commercial Knowledge

A company that emphasizes "integrity and honesty" in all dealings is focusing on:

ACore valuesBProfit maximizationCCost reductionDMarket expansion

Q9Fundamentals of Accounting

An asset is defined as:

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

Q10Business & Commercial Knowledge

Being a marketing manager, you have felt that your subordinates are overburdened with work. You have conducted interviews with all subordinates to determine whether there is a need to hire additional personnel in the department. This is an example of:

ARecruitmentBSelectionCJob designDJob analysis

Q11Quantitative Aptitude & Business Economics

2 + 4 + 6 + ... + 100 =

A2,500B2,550C2,575DNone of these

Q12Quantitative Aptitude & Business Economics

The lower and upper limits of r^2 are:

A−1 to +1B0 to 1C−∞ to +∞DNone of these

Q13Business & Commercial Knowledge

By using the ________________efficiently, a company can produce more goods and services with the same resources. Fill in the blank to complete the sentence.

AMachineryBHuman resourcesCFactory spaceDFactors of production

Q14Business & Commercial Knowledge

The capital as a factor of production only includes money in banks and in the form of cash.

ATrueBFalseCD

Q15Business & Commercial Knowledge

Ethics is defined as the "discipline dealing with what is good and bad and with moral duty and obligation." It is a set of moral standards for judging whether something is right or wrong, except:

AReviewing an employee's character is ethical before hiringBViewing an employee's religion is morally rightCProcessing an order after full payment is correctDGiving orders to do jobs daily is correct

Q16Fundamentals of Accounting

Which should be included in cost of PPE per IAS-16 examples?

ACost of opening new facilityBCost of introducing new product or serviceCAdministration and general overheadsDArchitecture fee for construction of building

Q17Business & Commercial Knowledge

A labour union represents:_____

AEmployeesBCompetitorsCMachinesDManagement only

Q18Business & Commercial Knowledge

Decentralization helps in:

AMotivating managersBReducing responsibilityCAvoiding decisionsDIncreasing control

Q19Business Economics & Commercial Knowledge vol.2

If exports become more attractive for foreign firms, then the Aggregate Demand Curve

ARise and shift rightwardBFall and shift rightwardCRise and shift inwardDFall and shift inward

Q20Business & Commercial Knowledge

A Food company in Pakistan specialises in canned processed food. The management has structured the company in a way that in each city there is a separate production facility for all products along with all business functions such as marketing, HR, finance, and IT. The company is structured as:

AProcess divisionsBGeographical divisionsCCustomer divisionsDProduct divisions

Q21Business & Commercial Knowledge

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

ARecruitmentBSelectionCJob designDJob analysis

Q22Fundamentals of Accounting

Which of the following statement describes the nature of weekly imprest system for petty cash?

AMaximum amount of weekly petty cash expense is definedBFor maintaining a fixed float an amount equal to weekly expenses incurred is reimbursedCProper authorization is required for all expenseDBusiness transfers an equal amount to petty cash balance at regular intervals

Q23Business Economics & Commercial Knowledge vol.2

If imports of a country are more than its exports. Balance of payment will be:

AFavourableBUnfavourableCBalanceDZero

Q24Business & Commercial Knowledge

Managers need quality integrated information. This system is called:

ATPSBDSSCERPDAll of the above

Q25Business & Commercial Knowledge

HR planning involves forecasting future _____.

AProfitsBHuman resource needsCOffice rentDMachine costs

Q26Quantitative Aptitude & Business Economics

The percentage of measurements of a normal random variable falling within the interval mu±3sigma is:

AAt least 88.9%B95.44%C99.74%DNone of these

Q27Business & Commercial Knowledge

You bought a new WIFI device for home that needs software on your laptop to adjust the setting of the device. The WIFI device is ______ whereas the software in your laptop is ______.

AIT ; ISBIS ; ITCICT ; ISTDNone of above

Q28Business & Commercial Knowledge

Which retention strategy directly addresses turnover caused by monotonous or repetitive jobs?

AProviding flexible work hoursBOffering competitive compensation packagesCImplementing job enrichment initiativesDStrengthening organisational culture

Q29Quantitative Aptitude & Business Economics

A person invested Rs. 300,000 each in two investment plans at 20% per annum compounded annually. The first amount was left to grow to a future value of Rs. 518,400 and the second amount was left to grow for one additional year. How many years was the second investment left to grow for?

AThree yearsBFour yearsCFive yearsDSix years

Q30Business & Commercial Knowledge

Decentralized organizations have:

ACentral decision-makingBDistributed decision-makingCNo decision-makingDGovernment decision-making

Q31Business & Commercial Knowledge

Employment tests help determine an applicant's _____.

AFavourite colourBSkills and abilitiesCShopping habitsDSalary history

Q32Fundamentals of Accounting

Which accounts are closed at end of financial year to statement of comprehensive income?

AAssetsBExpensesCLiabilitiesDIncome

Q33Business & Commercial Knowledge

SAI is software company listed in Karachi stock market. The company made a profit of Rs. 200 million last year. The company has also announced a dividend of 20% on profit after tax. The tax will be charged on:

AProfit of the yearBDividends received by shareholdersCBoth a and bDnone of the above

Q34Fundamentals of Accounting

Depreciable amount means:

ACost of an asset + Residual valueBCost of an asset – Residual valueCCost of an asset – Residual value / useful lifeDResidual value – Cost of an asset

Q35Business & Commercial Knowledge

Trade credit is also called:

AAccounts receivableBAccounts payableCBills receivableDNotes receivable

Q36Business & Commercial Knowledge

A vision statement should avoid:

AFuture focusBCurrent state descriptionCInspirationDClarity

Q37Business & Commercial Knowledge

Ethics deals with:

AProfit and lossBRight and wrongCProducts and servicesDCosts and revenue

Q38Quantitative Aptitude & Business Economics

Other things being constant, an increase in fixed cost will:

ADecrease total profitBDecrease total contributionCIncrease total profitDIncrease total contribution

Q39Fundamentals of Accounting

Purchase returns Rs. 20,000 recorded as sales returns Rs. 2,000. Impact on GP and NP after correction?

AIncrease in GP Rs. 22,000 & Increase in NP Rs. 22,000BDecrease in GP Rs. 22,000 & Decrease in NP Rs. 22,000CIncrease in GP Rs. 18,000 & Increase in NP Rs. 18,000DDecrease in GP Rs. 18,000 & Decrease in NP Rs. 18,000

Q40Fundamentals of Accounting

Prepayments Rs. 1,290. 1 Oct 2017: 50% advance Rs. 240 for annual contract (1 Oct to 30 Sep 2018) credited to income. Services Rs. 150 rendered Dec 2017, recorded Jan 2018. Year end 31 Dec 2017. Prepayments in financial position?

ARs. 1,290BRs. 1,440CRs. 1,380DRs. 1,200

Q41Business & Commercial Knowledge

Air conditioners designed for food item container carriers are termed as manufactured parts

ATrueBFalseCD

Q42Quantitative Aptitude & Business Economics

The graph to express the inequality 5x + 3y > 30 is:

A.B.C.DNone of these

Q43Business & Commercial Knowledge

Non-profit organizations do not engage in marketing activities to help reach their goals.

ATrueBFalseCD

Q44Quantitative Aptitude & Business Economics

Solve x^2 + 7x + 12 = 0:

A-3 and 4B3 and -4C-3 and -4D3 and 4

Q45Business Economics & Commercial Knowledge vol.2

Income tax in a particular slab where rate remains unchanged are the examples of _______ taxes

AProportionalBProgressiveCRegressiveDNone of these

Q46Business & Commercial Knowledge

Manager hired one of the close relatives to do the job of factory quality control when there were more competent candidates for the job. This is an example of:

AOkay as it will help receive honest reportsBIt will provide insight in factory operation weeklyCIt will maintain disciplineDIt is a conflict of interest

Q47Business & Commercial Knowledge

Which of the following is not part of marketing mix

APlaceBProcurementCPromotionDPeople

Q48Quantitative Aptitude & Business Economics

The profit function P(x) = -0.05x^2 + 4x - 30. What will be the profit if company sells 25 units?

A38.75B48.75C58.75D68.75

Q49Business Economics & Commercial Knowledge vol.2

According to Keynes consumption increases along increase in income but with:

ALesser proportionBGreater proportionCSame proportionDNone of above

Q50Quantitative Aptitude & Business Economics

A person pays Rs.975 in monthly installments, each Rs.5 less than previous. First installment Rs.100. Time to pay entire amount:

A10 monthsB15 monthsC14 monthsDNone of these

Q51Business Economics & Commercial Knowledge vol.2

Which of the following is not an opportunity cost of attending college?

Athe alternative admission in any other college sacrificedBthe income you could have earned if you didn't attend collegeCthe alternative uses of the time you spend studyingDthe cost of the food that you consume while you are attending college

Q52Business & Commercial Knowledge

Liability of general partners in a limited partnership is:

AFixedBUnlimitedCNot definedDLimited to invested capital only

Q53Business Economics & Commercial Knowledge vol.2

What could be expected to increase the pressure of demand-pull inflation in an open economy?

AAn appreciation of the foreign exchange rateBan increase in indirect taxesCan increase in interest ratesDthe imposition of import controls

Q54Business & Commercial Knowledge

Batch processing means:

AImmediate processingBGrouping transactions for later processingCStoring incomplete dataDRandom processing

Q55Business & Commercial Knowledge

Not disclosing drug side effects is:

AEthicalBUnethical hiding of informationCLegal requirementDBusiness practice

Q56Fundamentals of Accounting

Each return inward (credit note issued) 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.

Q57Fundamentals of Accounting

Any amount of write-down of inventories to net realisable value should?

ATreated as a deferred expense and written off based on the average inventory holding periodBRecognised as an expense in the period in which the write-down occursCRecognised as an expense in the subsequent period in which such write-down is warrantedDRecognized as a current liability in the statement of financial position

Q58Business & Commercial Knowledge

Demographic segmentation includes:

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

Q59Quantitative 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

Q60Business & Commercial Knowledge

A type of on-the-job training is _____.

AWork shadowingBSimulation centresCSeminarsDOnline courses

Q61Fundamentals of Accounting

Is there a difference between bad debt and doubtful debt?

ANo they are inter-changeableBYes bad debt is clearly identified as uncollectible whereas doubtful debt might become bad debt in futureCYes doubtful debt is clearly identified as uncollectible whereas bad debt might become doubtful in futureDThey are synonymous

Q62Fundamentals of Accounting

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

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

Q63Business & Commercial Knowledge

Equity is more expensive than debt because:

ADividend is tax-deductibleBDividend is not tax-deductibleCInterest rate is higherDShares cannot be sold

Q64Business Economics & Commercial Knowledge vol.2

A business employs 11 workers at a wage of £24 per day. To attract one more worker it raises the wages to £25 per day. The marginal cost of employing the extra worker is

A£1B£12C£25D£36

Q65Business & 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

Q66Fundamentals of Accounting

Hassan bought machine 1 Mar 2022 Rs. 250k, residual 20k, life 100k hours. Used 15k hours in year ended 31 Dec 2022. Depreciation charge and net amount in FP?

ADep 34.5k, Net 215.5kBDep 34.5k, Net 195.5kCDep 28.75k, Net 215.5kDDep 28.75k, Net 215.5k

Q67Business & Commercial Knowledge

Quantitative objectives can serve as:

AMotivation for employeesBMarket trend settersCBasis for production schedulesDProcess mile stones

Q68Quantitative Aptitude & Business Economics

Solution set for the simultaneous equations 2x - 3y = 19 and 3x + 2y = -4 is:

A(2,5)B(-2,-5)C(-2,5)D(2,-5)

Q69Fundamentals of Accounting

Goods sold Rs. 35,000 (60% credit), purchased Rs. 30,000 (20% cash), cash deposited Rs. 8,000. Closing balance of cash column?

ARs. 7,000BRs. 19,000CRs. 12,000DZero balance

Q70Business & Commercial Knowledge

Which is a major security threat?

APrinter usageBWorms and virusesCOffice renovationsDFile naming errors

Q71Fundamentals of Accounting

Which items shall be included in cost of PPE at initial measurement per IAS-16?

APurchase cost less trade discountsBRefundable taxesCTransportation costDExtra cost due to negligence in installation

Q72Fundamentals of Accounting

PPE cost Rs. 230,600k. Prepayments Rs. 3,000k. Printer rent Rs. 480k paid 1 Oct 2018. Purchased 1 Apr 2019 for Rs. 1,240k (payment July net of rent). Not recorded. Year end 30 June 2019. PPE cost?

ARs. 230,600kBRs. 231,840kCRs. 232,080kDRs. 231,600k

Q73Quantitative Aptitude & Business Economics

Sum of 4th and 12th terms of AP = 20. Sum of first 15 terms:

A150B160C155D165

Q74Business 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

Q75Business Economics & Commercial Knowledge vol.2

What is likely to cause the aggregate supply curve to shift to the left?

Aimprovements in technologyBschemes to increase the geographical mobility of laborCan increase in investment due to a reduction in interest ratesDan increase in the marginal rate of income tax

Q76Fundamentals of Accounting

R Co. paid insurance: property 1 Apr 2022 Rs. 120k, plant 1 Aug 2022 Rs. 180k. Amount for statement of comprehensive income and financial position at 30 Sep 2022?

AIncome: 65k, Position: 225k accruedBIncome: 65k, Position: 225k prepaidCIncome: 90k, Position: 210k accruedDIncome: 90k, Position: 210k prepaid

Q77Business & Commercial Knowledge

Integrity example is:

ADeceiving customersBHonest communicationCHidden informationDFalse promises

Q78Business Economics & Commercial Knowledge vol.2

Duopoly is a special case of which of the following:

APerfect competitionBMonopolyCMonopolistic competitionDOligopoly

Q79Quantitative Aptitude & Business Economics

Minimum number of constraints to draw a feasible region is:

A1B2C3D4

Q80Fundamentals of Accounting

An entity bought a machine for Rs.1000000 with down payment Rs.200000 and remaining Rs.800000 payable after a month. What would be the effect of the transaction?

AMachine increased by Rs.800000 and liabilities decreased by Rs.800000BMachine decreased by Rs.800000 and liabilities increased by Rs.800000CMachine increased by Rs.1000000 and liabilities increased by Rs.800000 while cash is decreased by Rs.200000DMachine increased by Rs.800000 and liabilities increased by Rs.800000 while cash is decreased by Rs.200000

Q81Business & Commercial Knowledge

A limited company has:

AUnlimited liabilityBLimited liabilityCNo liabilityDShared liability

Q82Fundamentals of Accounting

Adjustment of accrued income impacts financial statements as:

AIncrease income, decrease current liabilityBIncrease income, increase current assetCDecrease income, decrease current assetDDecrease income, increase current liability

Q83Business Economics & Commercial Knowledge vol.2

A nation's income rises by Rs.2,500 million and its inhabitants spend Rs.2,000 million on consumer goods. The value of the multiplier is

A0.80B1.25C4D5

Q84Business & Commercial Knowledge

Partnership agreement should be:

AOral onlyBWritten preferablyCNot necessaryDOnly for large partnerships

Q85Fundamentals of Accounting

Receipt Rs. 989,000, deposit slip correct Rs. 989,000, but recorded in Cash account as Rs. 998,000. How to handle Rs. 9,000 difference?

AInclude on receipt side of cash bookBInclude on payment side of cash bookCAdd to bank statement balance in BRSDDeduct from bank statement balance in BRS

Q86Business Economics & Commercial Knowledge vol.2

Spending on purchasing new intelligence system for defense is non-development expenditure. Which of the following statements is false?

AA country's exports increase when the economic activity of its major trading partners increases, ceteris paribusBA country's exports increase when its currency depreciates, ceteris paribusCA country's exports increase when it imports less, ceteris paribusDA country's exports increase when the price level of its major trading partners decreases, ceteris paribus

Q87Fundamentals of Accounting

Each receipt (other than from customers) as recorded in Cash Book is posted to:

Acredit side of individual customers' account in Receivables LedgerBcredit side of relevant account in General LedgerCdebit side of individual customers' account in Receivables LedgerDdebit side of discount allowed account in General Ledger

Q88Quantitative Aptitude & Business Economics

Moosa has to pay Fahad Rs.900,000 three years from today. At 10% p.a. compounded annually how much will Fahad accept today?

ARs.676,183BRs.576,183CRs.767,183DRs.876,183

Q89Business Economics & Commercial Knowledge vol.2

Which of the following is the correct sequence in a business cycle?

ABoom Recession Depression RecoveryBRecession Recovery Boom DepressionCBoom Recovery Recession DepressionDRecovery Recession Depression Boom

Q90Business Economics & Commercial Knowledge vol.2

Which of the following would be a fiscal measure by a government which would have the effect of restricting the growth in the money supply?

AAn increase in short term (money market) interest ratesBAn increase in the rate of GSTCAn increase in the Public Sector Borrowing RequirementDThe imposition of a prices and incomes policy

Q91Quantitative Aptitude & Business Economics

Compute the amount of interest earned if Rs. 400,000 is invested at 13% per annum compounded semi-annually for six years.

ARs. 451,638BRs. 551,638CRs. 351,638DRs. 751,638

Q92Fundamentals of Accounting

Rashid transferred computer from business to home. Bought Rs. 25,000, carrying value Rs. 16,000. Double entry?

ADr. Capital Rs. 25,000 and Cr. Computer Rs. 25,000BDr. Drawings Rs. 25,000 and Cr. Computer Rs. 25,000CDr. Capital Rs. 16,000 and Cr. Computer Rs. 16,000DDr. Drawings Rs. 16,000 and Cr. Computer Rs. 16,000

Q93Fundamentals of Accounting

Oil in hand 31 Mar 2012 Rs.8200 and unpaid bill Rs.3600. Oil in hand 31 Mar 2013 Rs.9300 and unpaid bill Rs.3200. Payments Rs.34600. Heating oil expense for year?

ARs. 23900BRs. 36100CRs. 45300DRs. 33100

Q94Business & Commercial Knowledge

Organizational structures are direct means of controlling the organization resources for optimum results.

ATrueBFalseCD

Q95Business & Commercial Knowledge

Understanding stakeholders helps in:

AResource allocationBIgnoring customersCAvoiding suppliersDReducing quality

Q96Fundamentals of Accounting

Closing inventory includes an item valued at cost of Rs. 12,000. The net realizable value of this item is Rs.14,000. The entity uses perpetual inventory system. What journal entry is required to correct the above error?

ADebit Inventory Rs. 14,000 and Credit Cost of Sales Rs. 14,000BDebit Inventory Rs. 2,000 and Credit Cost of Sales Rs. 2,000CDebit Cost of sales Rs. 2,000 and Credit Inventory Rs. 2,000DNo journal entry is required

Q97Business Economics & Commercial Knowledge vol.2

Changes in the distribution of disposable income

ACause upward shifts in the consumption functionBCause downward shift in the consumption functionCHave no effect upon the consumption functionDBoth a & b are possible

Q98Fundamentals of Accounting

Depreciation shall start from:

ADate when advance is paid against assetBDate when asset is purchasedCDate when asset shall be available for useDDate when asset shall be used

Q99Business & Commercial Knowledge

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

Aknowledge and experienceBknowledge and certificationCmotivation and experienceDsupport and motivation

Q100Business & Commercial Knowledge

Risk of failure of a business is high due to dependency on single person in:

APublic LimitedBPrivate LimitedCSole ProprietorshipDPartnership

Q101Fundamentals of Accounting

The cash book showed overdrawn balance which was not reconciled with bank statement balance. On scrutiny, it was found that cheque received from customer amounting to Rs. 35,000 was not recorded in cash book whereas direct debit of Rs. 25,000 was recorded in cash book as Rs. 2,500. The overdraft cash book balance after adjustments shall be:

ADeclined by Rs. 12,500BDeclined by Rs. 57,500CIncreased by Rs. 12,500DIncreased by Rs. 57,500

Q102Business Economics & Commercial Knowledge vol.2

Which one describes marginal efficiency of capital?

AThe rate at which a firm or household must pay for funds in the present, which will be paid back in the future.BThe rate at which a firm or household keep funds in the present, which will be paid back in the future.CThe rate at which a firm or household must deposit funds in present, which will be paid back in the future.DThe rate at which a firm or household must hold physical assets in the present, which will be paid back in the future.

Q103Fundamentals of Accounting

The nature of Allowance for doubtful debt account is:

AContra asset accountBAsset accountCExpenseDLiability account

Q104Business & Commercial Knowledge

Training through step-by-step computer software is:

APPTBPGTCBOTDCBT

Q105Business Economics & Commercial Knowledge vol.2

Government macroeconomic policy must take account of automatic stabilizers. These are of two types. One type is tax revenues that fall as national income rises.

ATrueBFalseCD

Q106Business Economics & Commercial Knowledge vol.2

A negative income elasticity of demand for a commodity indicates that as income increase then amount of the commodity purchased:

ARisesBFallsCRemain the unchangedDAny of the above

Q107Business & Commercial Knowledge

A hygiene factor example is:_____

ASalaryBAchievementCRecognitionDGrowth

Q108Fundamentals of Accounting

Which of the following is not a component of cost of an asset?

APurchase priceBImport dutiesCRefundable sales taxDInstallation and assembly costs

Q109Business & Commercial Knowledge

Safia is working as a financial manager in GAINGroc Super Store. She keeps track of:

ADay-to-day operation cash flow dataBFunding needsCCapital structuresDAll of the above

Q110Business Economics & Commercial Knowledge vol.2

Under perfect market conditions, the supply curve of a firm is the same as:

AMC curveBMR curveCAR curveDAC curve

Q111Quantitative Aptitude & Business Economics

Processed or published data is known as:

ASample dataBPrimary dataCSecondary dataDNone of these

Q112Fundamentals of Accounting

Cheque Rs. 150,000 from insurance for inventory loss deposited in personal account. Actual loss Rs. 180,000. No entries made. Periodic method. Which effect is part of correcting entry?

ADebit Abnormal loss Rs. 30,000BDebit Drawings Rs. 150,000CCredit Purchases Rs. 180,000DAll of above

Q113Business & Commercial Knowledge

Tall structure has:

AWide spanBNarrow spanCNo levelsDFlat shape

Q114Business Economics & Commercial Knowledge vol.2

Which of the following is a central bank unable to do?

AInfluence banks to tighten or loosen their credit policiesBCreate a climate of monetary ease or restraintCDirectly set market interest ratesDInfluence the interest rate on new treasury bonds

Q115Business Economics & Commercial Knowledge vol.2

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

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

Q116Business & Commercial Knowledge

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

ATrueBFalseCD

Q117Business & Commercial Knowledge

Board of Directors is a mix of

AEDs and NEDsBCEO and EDsCCEO and ManagersDEDs and Chairman

Q118Business Economics & Commercial Knowledge vol.2

A marginal propensity to consume of 0.80 indicates that

A⧍C to ⧍Yd is 0.80BC/Yd is 0.80C⧍Yd to ⧍C is 0.80DYd/C is 0.80

Q119Quantitative Aptitude & Business Economics

Which of the following statements is/are correct? i. Graph of a quadratic function will always have a negative slope. ii. Graph of a quadratic function never intersects y-axis. iii. Graph of a quadratic function will always be U shaped. iv. Graph of a quadratic function may have two 𝑥-intercepts

AivBiiiCiiDi

Q120Business & Commercial Knowledge

Many good IT start-ups attract IT professionals by promising a share in the ownership of the business. This refers to as:

ALong-term incentivesBStock optionsCStock grantsDall of the above

Q121Business Economics & Commercial Knowledge vol.2

A developing economy attracts additional foreign direct investment. What is likely to be the effect on its visible trade balance and on its invisibles balance?

AVisible trade balance:Improve , Invisible Balance:ImproveBVisible trade balance:Improve , Invisible Balance:WorsenCVisible trade balance:Worsen , Invisible Balance:ImproveDVisible trade balance:Worsen , Invisible Balance:Worsen

Q122Business & Commercial Knowledge

The main failure to attract most suitable candidate for a job is due to lack of:

ARecruitment policyBRecruitment advisementCRecruitment processDRecruitment and training

Q123Fundamentals of Accounting

Chan sold goods list price Rs. 10,000, 10% trade discount, to Veer on credit. Veer paid in full after 5% cash discount. Two weeks later returned half the goods. Sales return amount?

ARs. 4,275BRs. 4,500CRs. 4,750DRs. 5,000

Q124Fundamentals of Accounting

Opening allowance Rs.1000. Closing receivables Rs.100000. Using 5% allowance what amount charged to P&L?

ARs. 3000BRs. 4000CRs. 5000DRs. 6000

Q125Business & Commercial Knowledge

Charities do not require any legal documentation for starting services:

ATrueBFalseCD

Q126Business & Commercial Knowledge

The decision-making and planning and control activities are decentralized ('devolved') at the regional manager to adjust according to the market environment. Which of the following best characterizes devolution of decision-making:

ADecentralization provides effective decision-makingBCentralization is suitable for such regional decisionsCDecentralization results in a tall structureDCentralization results in a flat structure

Q127Fundamentals of Accounting

Annual insurance Rs. 60k payable quarterly in advance from 1 Nov 2020. Increased 10% from 1 Nov 2021. Amount in FP at 30 Jun 2022?

ARs. 11,000 accrued expenseBRs. 5,500 prepaid expenseCRs. 11,000 prepaid expenseDRs. 5,500 accrued expense

Q128Quantitative Aptitude & Business Economics

If (ax+b)(cx+d)=0 has two equal real roots then:

Aa/b = d/cBb = dC-b/a = -d/cDa = c

Q129Business 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

Q130Quantitative Aptitude & Business Economics

If seven coins are tossed simultaneously. All possible outcomes of the experiment are:

ANot mutually exclusiveBIndependentCNot independentDNone of these

Q131Business & Commercial Knowledge

Many stock exchanges in the world require the firms to have:

ACSRBFinancial statements issued to international mediaCDefined professional code of ethicsDAll of the above

Q132Business Economics & Commercial Knowledge vol.2

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

ATrueBFalseCD

Q133Fundamentals of Accounting

Furniture capitalized 1 Oct 2021 Rs. 80k, residual 5k, life 5 years. Fitting cost 6k charged as expense instead of capitalised. How much profit understated/overstated for year ended 30 Jun 2022 using SLM?

AUnderstated by Rs. 6,000BOverstated by Rs. 5,100COverstated by Rs. 6,000DUnderstated by Rs. 5,100

Q134Business & Commercial Knowledge

____________________is considered the most important element of branding in terms of recognition.

AThe company's websiteBThe logoCThe marketing strategyDThe product packaging

Q135Fundamentals of Accounting

Bank statement OD Rs. 1,490,850. Unidentified credit Rs. 354,000 (customer transfer 30 June). Advice dated 30 June received 5 July: Bank charges Rs. 7,850 (overcharged by 1,250), Dividend Rs. 50,000, Standing instruction Rs. 12,000. Cash book corrected. Bank balance to report?

ARs. 1,489,600 OverdraftBRs. 760,000 Positive balanceCRs. 1,492,100 OverdraftDRs. 803,030 Positive balance

Q136Business Economics & Commercial Knowledge vol.2

Which of the following ____________is NOT a characteristic of oligopoly?

AMutual dependenceBGrowth through mergerCLarge number of firmsDNon-price competition

Q137Fundamentals 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.

Q138Business & Commercial Knowledge

A key objective of human resource strategy is to:

AEnsure human resources are available as requiredBMinimise employee compensationCMaximise physical resourcesDEliminate training programs

Q139Quantitative Aptitude & Business Economics

Corner point theorem states:

AOptimal solution is at one of the corners of feasible regionBOptimal solution is within feasible regionCProfit is maximum at all cornersDRevenue is maximum at all corners

Q140Fundamentals of Accounting

On day 1 of Month 1 prepaid insurance Rs.10000. On day 1 of Month 8 paid annual invoice Rs.36000 for following year. P&L charge and SFP prepayment at year-end?

AP&L Rs.5000 Prepaid Rs.24000BP&L Rs.22000 Prepaid Rs.23000CP&L Rs.25000 Prepaid Rs.21000DP&L Rs.36000 Prepaid Rs.15000

Q141Quantitative Aptitude & Business Economics

20 past games: A wins 10, B wins 6, 4 ties. Play 4 more. P(exactly 2 ties):

A3/8B0.2646C96/625D5/8

Q142Business & Commercial Knowledge

Maintaining current knowledge demonstrates:

AProfessional competenceBNegligenceCCarelessnessDIncompetence

Q143Business & Commercial Knowledge

Non-executive directors bring:

ADaily management skillsBFresh perspectiveCOperational expertiseDCustomer contacts

Q144Fundamentals of Accounting

The following information relates to Salman: Opening stock Rs. 28,700; Closing stock Rs. 21,400; Distribution cost Rs. 14,000; Audit Fee Rs. 25,000; Carriage in Rs. 16,000; Carriage out Rs. 18,000; Purchases Rs. 185,000; Depreciation Rs. 45,000. 80% of depreciation was related to cost of sales and remaining to administration cost. Based on above information, what was the cost of sales of Salman?

ARs. 253,300BRs. 246,300CRs. 244,300DRs. 228,300

Q145Business Economics & Commercial Knowledge vol.2

The aggregate supply curve shows the relationship between the aggregate quantity of output supplied by ________ and ________.

AAll the firms in an economy; the overall price levelBThe government; aggregate demandCDomestically owned firms in the economy; the interest rateDThe world; the money supply

Q146Business & Commercial Knowledge

Employees working extra hours with double hour rates is:

ALegalBCorrectCEthicalDAll of the above

Q147Quantitative Aptitude & Business Economics

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

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

Q148Business Economics & Commercial Knowledge vol.2

Which of the following statements is not correct?

AEconomics is a behavioural science.BEconomics is the study of how people make choices.CIf poverty were eliminated, there would be no reason to study economics.DEconomic analysis can be used to explain how both individuals and societies make decisions.

Q149Business Economics & Commercial Knowledge vol.2

All else equal, if demand for a product falls greater than fall in supply, then which of the option will be the correct option?

Aprice will fall with decrease in quantityBPrice will rise with increase in quantityCPrice will increase with fall in quantityDPrice will fall with increase in quantity

Q150Quantitative Aptitude & Business Economics

Sohrab & Co. increased wages by 20% in 2006. CPI changed from 240 to 270. The change in real wages is:

AReal wages increased by 7.5%BReal wages increased by 6.67%CReal wages decreased by 7.8%DNone of the above

Q151Fundamentals of Accounting

A company constructed a new office building at a cost of Rs. 800,000. A junior accountant mistakenly capitalized an additional Rs. 25,000 related to the opening ceremony expense. Depreciation at 5% per annum was charged on the total amount of Rs. 825,000. What is the combined impact of these errors on the company's assets and profit for the year?

AAssets overstated by Rs.25,000; Profit overstated by Rs.25,000BAssets overstated by Rs.23,750; Profit overstated by Rs.23,750CAssets overstated by Rs.25,000; Profit overstated by Rs.1,250DAssets overstated by Rs.23,750; Profit understated by Rs.23,750

Q152Business Economics & Commercial Knowledge vol.2

Suppose consumer saving is specified as S = -50 + 0.50Y, investment spending is Rs.75 b, gross exports total Rs.50 b, and gross imports equal Rs.35 b. Find the equilibrium level of output algebraically by equating leakages and injections.

ARs. 180 bBRs. 290 bCRs. 390 bDRs 280 b

Q153Business & 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

Q154Quantitative Aptitude & Business Economics

T₂−T₁ = T₃−T₂. These terms are in ____ progression:

AArithmeticBGeometricCHarmonicDNone of the above

Q155Fundamentals of Accounting

Which statement is correct in relation to Accrual concept?

ACash received for next year expense should be recorded when receivedBPerson hired at 50k salary, 5th of following month. Worked 7 months, paid 6. Recognize 6 months expenseCRent 48k paid for 3 months, 1 month next year. Record 48k in current year CIDRent 48k paid for 3 months, 1 month next year. Record 36k in CI and 12k in FP as current asset

Q156Quantitative Aptitude & Business Economics

If each observation is increased by 5, the mean of the new set of observations will:

AIncrease by 5BDecrease by 5CRemain unchangedDNone of these

Q157Business Economics & Commercial Knowledge vol.2

. If there is reduction in government spending, there will not necessarily be a fall in National income if there is an increase in 1. exports 2. taxation 3. Investment

A1 and 2B1 and 3C2 and 3DAll of 1, 2 and 3

Q158Business & Commercial Knowledge

Giving false impressions is:

AEthical behaviorBUnethical behaviorCLegal requirementDBusiness strategy

Q159Business Economics & Commercial Knowledge vol.2

What will cause interest rates to rise?

Aan unexpected increase in the prices of bondsBan increase in the nominal money supplyCan increase in the volume of outputDa reduction in the price level

Q160Quantitative Aptitude & Business Economics

Y ≤ X is the same as:

AY ≤ 0BX ≥ YCX ≤ yDNone of these

Q161Business & Commercial Knowledge

R Airline serves customers on domestic routes. The service is appreciated by the business community as it helps them meet the conferences and meetings schedules on time and on place of their choices. The ABM packages include:

ARelevant for all local business needsBCommunicated to all chambers and commerce across PakistanCBrand for business communityDABM is adaptable to every casual traveller

Q162Quantitative Aptitude & Business Economics

The percentage change in CPI is used to determine the rate of ______. If CPI increases there is ______ and if CPI decreases there is deflation.

AInflation or deflation / inflationBGrowth / recessionCDeflation / inflationDNone of these

Q163Quantitative Aptitude & Business Economics

A project has NPV of Rs.15,028 at 15% discount rate. At what discount rate will NPV be Rs.11,111?

A13%B14%C10%D20%

Q164Fundamentals 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

Q165Quantitative Aptitude & Business Economics

Rs.35,000 invested Jan 2015 growing at 10%/year. Amount at 31 Dec 2017 (after 3 years):

ARs.46,585BRs.36,585CRs.26,585DRs.10,585

Q166Fundamentals of Accounting

Which one of the following not an internal user of financial statements?

AEmployeesBManagementCSupplierDExecutive Director

Q167Quantitative Aptitude & Business Economics

Find the slope and y- intercept of the graph of the following equation.

ASlope = 5/7, y-intercept = 5BSlope = −5/7, y-intercept = 5CSlope = 7, y-intercept = −5DSlope = 5/7, y-intercept = −5

Q168Fundamentals 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

Q169Business & Commercial Knowledge

CEO reviewing environmental impact of toy disposal is involved in:

AMaking overall plansBEnsuring contractsCFormulating strategyDFinancial management

Q170Fundamentals of Accounting

The credit side of trial balance exceeded the debit side by Rs. 1,175. Afterwards, following two errors were identified and corrected: Insurance premium of Rs. 1,305 was correctly recorded in cash book but was not posted to Insurance expense account. The credit side of rent income account has been under-casted by Rs. 400. What will be balance of suspense account after the above corrections?

ADEBIT Rs. 270BDEBIT Rs. 2,080CDEBIT Rs. 530DNIL

Q171Business Economics & Commercial Knowledge vol.2

The standard measure for measuring demand and supply elasticity is

AZeroBUnityCInfinityDTwo

Q172Business Economics & Commercial Knowledge vol.2

In Pakistan paper currency issued by the SBP

Ais backed by gold but is not convertible into gold,Bhas no intrinsic value but is backed by gold,Chas no intrinsic value,Dhas no value in exchange.

Q173Quantitative Aptitude & Business Economics

From the following data compute the co efficient of correlation between x and y i. Arithmetic mean of x series is 25 and that of y is 18. ii. ∑(𝑋 − 𝑋̅)(𝑌 − 𝑌̅) =122. iii. ∑(𝑋 − 𝑋̅)² =136, and ∑(𝑌 − 𝑌̅)² =138 iv. n= 15

A0.98B0.76C0.89D0.59

Q174Business Economics & Commercial Knowledge vol.2

The difference between rate of inflation and nominal rate of interest is known as:

ABank rateBKIBORCReal rate of interestDDiscount rate

Q175Business Economics & Commercial Knowledge vol.2

If MPC = 0.4 and MPT = 0.2 then the tax multiplier will be:

A1.25B2.25C1.5D2.5

Q176Business Economics & Commercial Knowledge vol.2

Which one is most sensitive to interest rate?

APrecautionary demand for moneyBTransactional demand for moneyCSpeculative demand for moneyDAll of the above are equally sensitive

Q177Quantitative Aptitude & Business Economics

A person invested Rs. 300,000 four years ago and received Rs. 455,422 today. Compute effective annual rate for his investment.

A10%B9%C12%D11%

Q178Fundamentals of Accounting

Bank OD Rs. 806,436. Unpresented Rs. 377,784 includes time-barred Rs. 25,000 (as of 3 Jan 2014, year-end 31 Dec 2013). Cash book corrected. Bank balance to report?

ARs. 1,159,220 creditBRs. 453,652 creditCRs. 428,652 creditDRs. 1,184,220 credit

Q179Business 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

Q180Business Economics & Commercial Knowledge vol.2

The governments of many countries raise revenue from a tax on a wide range of essential goods and services. What is the nature of this tax?

AIt is direct and proportionalBIt is direct and regressiveCIt is indirect and proportionalDIt is indirect and regressive

Q181Quantitative Aptitude & Business Economics

Which of the following are correct? (1) Range = highest minus lowest observation (2) SD is positive square root of variance (3) Arithmetic mean of 7 and 9 is 8.5

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

Q182Business Economics & Commercial Knowledge vol.2

A financial intermediary is best defined as

Aan institution which matches lenders' supply of funds with borrowers' demand for fundsBan institution which operates on the Stock Exchange, matching buyers and sellers of stocks and sharesCan institution which allows firms to obtain equipment from suppliers by providing leasing or hire purchase financeDNone of these

Q183Business Economics & Commercial Knowledge vol.2

A rise in price of substitutive good, will lead to rise in demand of commodity under discussion.

ATrueBFalseCD

Q184Quantitative Aptitude & Business Economics

Which of the following equations represent the following graph?

Ay = 3x+2By = −1/3x+2Cy = 1/3x−2Dy = −3x−2

Q185Business 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

Q186Business Economics & Commercial Knowledge vol.2

The terms of trade are defined as:

AThe ratio of export prices to import pricesBThe total value of exports minus the total value of importsCThe change in volume of exports compared to changes in the volume of importsDThe commercial conditions under which international trade takes place

Q187Fundamentals of Accounting

What is correct entry for goods taken by owner for personal use?

ACr Purchases account and Dr Drawings account with the cost price of the goodsBCr Opening Inventory account and Dr Drawings account with cost price of the goodsCCr Trading account and Dr Drawings account with the selling price of the goodsDCr Sales account and Dr Drawings account with the sale price of the goods

Q188Fundamentals of Accounting

Which of the following statements is true?

AThere is no difference between financial statements of service industry and manufacturing industryBUnit cost of goods manufactured can be calculated by dividing the cost of goods manufactured to total units producedCUnit cost of goods manufactured can be calculated by dividing the cost of goods manufactured to total units soldDStatement of changes in equity is not the component of financial statement

Q189Business Economics & Commercial Knowledge vol.2

The monetary value of the flow of goods and services produced by the economy during one year after the adjustment of indirect taxes and subsidies is known as:

APersonal IncomeBDisposable IncomeCNational IncomeDG.D.P.

Q190Fundamentals of Accounting

Which is NOT a terminology used in maintaining petty cash book system?

AImprest SystemBReimbursement of expensesCCash floatDCash budgets

Q191Business Economics & Commercial Knowledge vol.2

If the demand for a good is price elastic, a fall in price will lead to a rise in sales and

Aa rise in salesBa fall in salesCa rise in total expenditure on the goodDa fall in total expenditure on the good

Q192Business Economics & Commercial Knowledge vol.2

Price is the ___________of any tangible or intangible product

Aaccepted valueBmonetary valueCreal valueDregulated value

Q193Business Economics & Commercial Knowledge vol.2

Which of the following goods is not complementary to the service of movie framing?

ARented accommodationBWooden tablesCCameraDPhotographic film

Q194Business & Commercial Knowledge

What does business data get processed into?

AIdeasBMeaningful and useful informationCData storage unitsDBasic facts

Q195Quantitative Aptitude & Business Economics

A quadratic function cuts y-axis at (0, 4). Which is a possible equation?

Ay = x² + 4x + 4By = 2x² + 4x − 4Cy = 2x² + 4x + 6Dy = 2x² + 4x + 8

Q196Business Economics & Commercial Knowledge vol.2

Investment spending is the most unstable component of aggregate spending.

ATrueBFalseCD

Q197Quantitative Aptitude & Business Economics

Use the following consumer price indices to find purchasing power of a rupee for each year relative to the base year and deflate the per capita income.

A19500, 18761, 18583, 18828B19500, 17652, 17663, 18892C19500, 18999, 18123, 19982DNone of the above

Q198Business Economics & Commercial Knowledge vol.2

Under which of the following circumstances, the value of the multiplier would be higher?

AWhen both marginal propensity to consume and marginal propensity to import are lowBWhen marginal propensity to consume is low and marginal propensity to import is highCWhen marginal propensity to consume is high and marginal propensity to import is lowDWhen both marginal propensity to consume and marginal propensity to import are high

Q199Business Economics & Commercial Knowledge vol.2

The cost of next best alternative foregone is called:

AExplicit costBEconomic costCAccounting costDOpportunity cost

Q200Quantitative Aptitude & Business Economics

Point of intersection of 3x + 2y = 6 and 3x − y = 12 lies in:

A1st QuadrantB2nd QuadrantC3rd QuadrantD4th Quadrant

Q201Fundamentals of Accounting

Bank statement of Mohtashim Sons showed balance of Rs. 458,500 Cr. as at May 31, 2022 which was not reconciled with balance of bank book. Following causes of differences were identified. 1. Rs. 47,000 was deposited into bank which was credited by bank on June 2, 2022. 2. A standing order for payment of annual subscription fees of Rs. 20,000 for a magazine had not been recorded in the bank book. 3. Bank has erroneously credited Rs. 2,500 as interest to our bank account. 4. Cheques deposited into bank but not presented for payment amounting to Rs. 72,500. Balance of cash book to be shown in statement of financial position as at May 31, 2022 shall be:

ARs. 481,500BRs. 450,500CRs. 430,500DRs. 410,500

Q202Business Economics & Commercial Knowledge vol.2

Which of the following is not an advantage of paper money?

ASaving of precious metalsBPortabilityCEconomy / Low costDStable value

Q203Business Economics & Commercial Knowledge vol.2

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

AImport Cost Push inflationBMonetary InflationCExpansional InflationDDemand Pull Inflation

Q204Business Economics & Commercial Knowledge vol.2

Which government policy will increase aggregate demand?

Araising indirect taxationBreducing the budget surplusCremoving import quotasDremoving subsidies

Q205Quantitative 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 B or C wins is:

A3/5B2/5C3/10DNone of these