Professional Documents
Culture Documents
1.
2.
3.
4.
1.
2.
3.
4.
18. Which of the following techniques used for evaluating capital projects is not based on
cash flows?
1.
2.
3.
4.
5.
1.
3.
1.
2.
3.
4.
5.
A.
B.
C.
D.
E.
1.
4.
1.
2.
3.
4.
A.
B.
C.
D.
ILLUSION: REALITY::
fancy: fact
sky: earth
ethereal: real
dream: work
water: ice
SNAKE: FANG::
vampire: teeth
rabbit: hutch
snail: antennae
action: fin
Choose the lettered word or phrase that is most nearly opposite in meaning to the word in
capital letters.
1.
5.
SIMULATED:
1.
2.
3.
4.
A. real
B. contrived
C. unassuming
D. false
Each question below consists of a related pair of words, followed by five lettered pairs of
words. Select the lettered pair that best expresses a relationship similar to that expressed in
the original pair.
1.
2.
1.
2.
3.
4.
5.
A.
B.
C.
D.
E.
1.
3.
1.
2.
3.
4.
5.
A.
B.
C.
D.
E.
ENZYME: CATALYST::
vaccine: allergy
bacterium: microbe
gland: muscle
vein: organ
neuron: corpuscle
HORNS: BULL::
mane: lion
wattles: turkey
antlers: stag
hoofs: horse
wings: eagle
Choose the lettered word or phrase that is most nearly opposite in meaning to the word in
capital letters.
1.
4.
TRANSIENT:
1.
2.
3.
4.
A.
B.
C.
D.
temporary
shining
dull
permanent
1.
2.
3.
4.
5.
1.
2.
3.
4.
5.
1.
2.
3.
4.
A. Manufacturer Brand
B. Generic Brand
C. Family Brand
D. Store Brand
1.
2.
3.
4.
A.
B.
C.
D.
1.
2.
3.
4.
5.
A.
B.
C.
D.
E.
18. Managers who make the best use of scarce resources are:
1.
2.
3.
4.
5.
A.
B.
C.
D.
E.
effective
empowered
efficient
entitled
energized
AUDIT OFFICER / ACCOUNT OFFICER
1.
A.
due diligence
B.
independence
C.
audit fees
D.
audit competence
2.
A.
B.
To consider the proposition of introducing test checks to be performed during audit
process.
C.
To determine exactly the extent of audit work to be performed, by examining the
weaknesses of the system, if any and considering the proposition of test checks.
D.
B.
C.
D.
Checking if the company is complying with all of its rules and regulations of operation.
4. In the Internal Auditing Standards it says: Internal auditors should be independent of the
activities they audit. How is this achieved when the auditors are part of the entity?
A.
Through their status in the organization and through having direct contact with the
audit committee.
B.
By liaising with the external auditors to ensure that decisions are properly made.
C.
By always reporting their findings to the shareholders at the annual general meeting.
D.
By being employed on fixed term contracts so they can act with complete
independence.
5.
A.
Extension Verification
B.
Substantive Testing
C.
Physical Observation
D.
6.
A.
B.
C.
D.
7. As per GFR Miscellaneous Expenditure means, all expenditure in the civil departments,
which does not fall under the category of:
A.
B.
C.
Both A & B
D.
8.
A.
Debit balance
B.
Credit balance
C.
O/D balance
D.
Nil balance
E.
9.
Average balance
Capital + Liabilities Assets =?
A.
Zero
B.
Gain
C.
Loss
D.
Surplus
E.
Profit
Revenue receipts
B.
Capital receipts
C.
Income
D.
Loss
E.
Capital los
1.
2.
1.
2.
3.
4.
A.
B.
C.
D.
PAGE: BOOK::
sailors: crew
petal: flower
leaf: stalk
singers: chorus
Choose the lettered word or phrase that is most nearly opposite in meaning to the word in
capital letters.
1.
3.
1.
2.
3.
4.
A.
B.
C.
D.
PARTICULAR:
general
widespread
diffused
common
1.
4.
1.
2.
3.
4.
5.
A.
B.
C.
D.
E.
CHANGE:
alter
church
complete
decide
agree
1.
2.
3.
4.
A.
B.
C.
D.
16. The burden of a tax falls more heavily on the sellers in a market when
1.
2.
3.
4.
A.
B.
C.
D.
1.
3.
1.
2.
3.
4.
5.
A.
B.
C.
D.
E.
1.
4.
1.
2.
3.
4.
A.
B.
C.
D.
Choose the lettered word or phrase that is most nearly opposite in meaning to the word in
capital letters.
1.
5.
SIMULATED:
1.
2.
3.
4.
A. real
B. contrived
C. unassuming
D. false
1.
2.
3.
4.
1.
2.
3.
4.
18. Which of the following techniques used for evaluating capital projects is not based on
cash flows?
1.
2.
3.
4.
5.
Each question below consists of a related pair of words, followed by five lettered pairs of
words. Select the lettered pair that best expresses a relationship similar to that expressed in
the original pair.
1.
2.
LIQUID: HYDRAULICS::
1.
2.
3.
4.
A.
B.
C.
D.
motion: dynamics
water: hydroponics
data: statistics
music: eurythmics
Choose the lettered word or phrase that is most nearly opposite in meaning to the word in
capital letters.
1.
3.
1.
2.
3.
4.
A.
B.
C.
D.
PUBLIC:
civic
private
republic
long
1.
4.
ANALOGY:
1.
2.
3.
4.
A.
B.
C.
D.
contract
contest
similarity
necessity
1.
2.
PAGE: BOOK::
1.
2.
3.
4.
A.
B.
C.
D.
sailors: crew
petal: flower
leaf: stalk
singers: chorus
Choose the lettered word or phrase that is most nearly opposite in meaning to the word in
capital letters.
1.
3.
1.
2.
3.
4.
A.
B.
C.
D.
PARTICULAR:
general
widespread
diffused
common
1.
4.
1.
2.
3.
4.
5.
A.
B.
C.
D.
E.
CHANGE:
alter
church
complete
decide
agree
15. Which one of these might you consider a violation in MANOVA and may be worth looking
at alternative analyses
1.
2.
3.
4.
5.
A.
You have 30 participants per group in your betweenparticipants design.
B.
You have normally distributed dependent variables and all
linear combinations of the dependent variables.
C.
Boxs M has an associated p-value of < 0.05 and you have
unequal sample sizes.
D.
You have equal numbers of participants and it is a large
sample size.
E.
All of the above
1.
2.
3.
4.
5.
A.
B.
C.
D.
E.
1.
5.
1.
2.
3.
4.
A.
B.
C.
D.
1.
6.
1.
2.
3.
4.
A.
B.
C.
D.
Radix
Cohart
Population
Mid year population
All of the above
The word transformation is closest in meaning to:
trend
event
change
custom
The word rogues refers to a type of:
beverage
person
book
coffee
1.
2.
3.
4.
A.
B.
C.
D.
16. The burden of a tax falls more heavily on the sellers in a market when
1.
2.
3.
4.
A.
B.
C.
D.
The
Balance
of
payment
is
(a)
The
balance
of
amount
after
(b) The balance of income and expenditure in the annual budget
understood
paying
as:
debt
(c) The balance between a nations expenditure on imports and its receipts from exports.
(d) None of the above
2.
Pinpoint
the
main
objectives
of
World
(WTO):
(a) Fix a quota for each member country trading in International Market
Trade
Organization
3.
The
number
(a)
(c) 1230 (d) 1503
Third
World
completely
of
560
markets
custom
family
duties
welfare
for
on
centres
(b)
American
items
in
of
Punjab
and
goods
trade
are:
940
4.
Which
of
the
following
statement
is
not
true?
(a)
The
World
Bank
has
to
affiliates,
the
International
Development
Association
and
the
International
Finance
Corporation.
(b)
The
membership
of
the
IMF
is
the
principal
condition
for
membership
of
the
World
Bank.
(c)
The
World
Bank
provides
loans
to
such
countries
whose
balance
of
payments
condition
is
not
favourable
(d)
The
World
Bank
finance
all
kinds
of
capital
infrastructure
such
as
roads
and
railways,
telecommunications,
seaports
and
power
facilities
in
the
developing countries.
5.
(a)
To
Identify
provide
the
loans
main
to
the
functions
members
of
of
UNO
IMF:
for
development
of
(b)
To
make
foreign
countries
that
want
(c)
To
make
foreign
countries
facing
(d) None of the above
6.
The
Shelter
(a)
(c) 1990 (d) 1992
United
for
Industrial
infra
exchange
resources
available
to
import
essential
items
exchange
resources
available
balance
of
payments
Nations
celebrated
the
for
of
for
International
Homeless
(b)
1985
Year
7.
The
Islamic
Development
US
dollars
in
Capital
to
(b)
International
Islamic
Technology
(c)
Refugees
(d) None of the above
Bank
would
provide
half
a
create(a)
Private
Pan
Islamic
Foundation
for
Science
8.
The
domestic
production
approximately
(a)
44,300
Barrels
(c) 65,200 Barrels (d) 70,000 Barrels
of
9.
The
regulations
of
enforced
(a)
1
January
(c) 1 July 2004 (d) 1 January 2005
10.
The
(a)
(c) U.S.A (d) U.K.
biggest
France
structure
those
food
those
difficulties
of
in:
1987
billion
Bank
and
Rehabilitation
World
crude
(per
(b)
Trade
2002
of
(b)
in
the
country
is
day)
Barrels
57,700
Organization
(b)
market
oil
Fund
Pakistani
Saudi
(WTO)
shall
January
exports
be
from:
2003
is:
Arabia
11.
The
biggest
market
of
Pakistani
Imports
is:
(a)
USA
(b)
U.K.
(c)
Russia
(d)
Japan
12.
The
Government
has
reduced
the
rate
of
profit
on
National
Saving
Schemes
primarily
for
the
reason
of:
(a)
Enhancing
the
level
of
saving
rate
Economics
3
(b)
Discouraging
the
blockage
of
money
in
such
schemes
(c)
To
encourage
the
investors
to
invest
their
capital
in
active
business
ventures
(d)
To
bridge
the
gap
between
their
profit
rate
and
Banks
mark up rate on loans
13.
Pakistans
domestic
demand
growing
annually
with
(a)
3
percent
(c) 8 percent (d) 15 percent
14.
The
Government
(a)
(c) 1979 (d) 1981
Womens
Division
was
in
for
the
(b)
created
1974
15.
The
first
World
Nations
was
(a)
(c) Nairobi (d)Ankara
petroleum
products
in
percentage
of:
5
percent
in
the
Federal
January:
1977
(b)
Population
held
Kampala
16.
Difference
between
a
(a)
Trade
Balance
(c) Trade Surplus (d) Volume of Trade
Conference
in
countrys
exports
(b)
under
1975
and
Trade
the
United
at:
(b)Bucharest
imports
is:
Deficit
17.
Cash
crop
is
(a)
Which
gives
high
profit
(b)
Which
is
grown
(c)
Which
is
grown
after
taking
(d)
None
of
the
18.
The
lowering
of
the
value
of
a
market
or
against
specific
other
exports
cheaper
and
imports
(a)
Devaluation
(c)Inflation (d) Deflation
the
crop:
to
the
farmers
only
for
sale
Cash
loan
from
Banks
above
one
currency
in
the
international
currencies,
which
makes
expensive
is
called:
(b)
Revolution
19.
The
value
of
the
output
of
all
goods
and
services
produced
within
a
nations
borders,
normally
given
as
a
total
for
the
year.
It
thus
includes
the
production
of
foreign
owned
firms
within
the
country,
but
excludes
the
income
from
domestically
owned
firms
located
abroad,
is
called:
(a)
Gross
National
Product
4
General
Knowledge
MCQs
(b)
Gross
Home
Products
(c)
Gross
Domestic
Product
(d) General Domestic Production
20.
Dow
Jones
(a)
For
measuring
(b)
For
measuring
the
Japanese
(c)
For
measuring
the
industrial
(d) None of the above
index
Industrial
average
average
The
accounting
process
A)
Quantifiable
B)
Non
quantifiable
C)
All
D) None of them
is
profit
share
share
price
the
in
price
of
involves
in
economic
economic
of
scale:
a
year
of
leading
companies
major
US
companies
recording:
event
event
them
Q-2
A)
B)
C)
In
accounting
an
Economic
event
is
referred
Bank
to
as:
Cash
statement
Transaction
D) Exchange of money
CommunicatingRecordingIdentifying
RecordingCommunicatingIdentifying
Identifyingcommunicatingrecording
financial
financial
Analysing
statements
information
Q-5 Financial accounting provides financial information to all of the following external users except:
A)
B)
C)
D) Managers
Government
agencies
investors
Creditors
Q-6 For which step of accounting process the accountants of business entity prepare financial
statements?
A)
B)
C)
D)
Identification
Communication
Recording
Making
of
of
decisions
economic
financial
financial
about
event
information
information
business
Q-7
A)
B)
C)
D)
Keeping
the
log
of
financial
information
in
books
of
original
entries
is called
Recording
summarizing
Grouping
Processing
the
of
financial
financial
financial
information
statements
statements
of
the
the
the
of
of
business
business
business
Creditor
B)
C)
D)
of
Government
Shareholder
of
Manager
of
the
the
the
business
agency
business
business
B)
C)
Q-11_________ is the first phase of accounting cycle
A)
Identifying
B)
C)
D)
12)
an
Posting
Making
economic
Preparing
entries
decisions
event
to
or
ledger
about
transaction
journals
accounts
business
B)
They
are
more
complex
C)
The
are
the
summary
D) The are prepared on basis of actual concept
and
hard
to
accounting
of
prepare
data
Q-13 ________ is a separate legal entity that Total capital can be divided in many shares
A)
Partnership
B)
Sole
proprietorship
C)
Company
D) Non-profit organization
Q-16
A)
B)
C)
________
Future
economic
benefits
B)
All
kind
of
benefits
C)
Expenses
for
D)
Merits
and
Demerits
Q-15
Liabilities
are
which
A)
B)
C)
Future
D) Expenses
is
the
decrease
in
gross
inflow
for
the
for
the
the
for
the
of
the
of
economic
business
business
business
business
following?
Resources
Obligations
benefits
benefits
Assets
Liabilities
Income
D) Expenses
economic
benefits
for
the
business
are what?
Expenses
Obligations
Creditors
Q-18 An asset must be _______ by the business to be shown as an asset in its balance sheet
A)
Possessed
B)
Owned
C)
Controlled
D) Used
Q-19
Liability
A)
B)
C)
D) Non of them
are
arisen
from
which
Present
Future
Past
of
the
following
events?
event
event
event
Q-20 Which of the following can be considered as the most important phase of accounting cycle and
it is the primarily objective of financial accounting?
A)
B)
Preparing
C)
Preparing
D) Preparing trial balances
Identifying
T
financial
transactions
Accounts
statements
Q-21 Which is the most important characteristic that all assets of a business have?
A)
Long
life
of
assets
B)
Value
of
assets
C)
Intangible
nature
of
assets
D) Future economic benefits
Q-22
What
A)
B)
C)
D) Liabilities+Capital
is
Assets+
the
basic
accounting
equation?
Capital+Liabilities=Assets
liabilities
=Capital
Capital+assets=liabilities
Q-23
Which
A)
B)
C)
D) Creditors
of
the
following
Q-24
What
A)
Cash
from
B)
liability
of
C)
Owners
claim
D) Owners claim on total liabilities
Q-25
A)
B)
C)
D) Bank loan
Identify
the
Cash
is
is
the
a
on
asset
total
from
and
the
cash
Notes
liability?
Cash
Equipment
Debtors
equity?
business
business
assets
following
equivalent
Creditors
payable
Q-26 _______ the withdrawal of cash and goods by the owner of the busienss for his/her personal
use
A)
Depreciation
B)
Drawings
C)
Outflow
of
cash
D) Appreciation
Q-27
Net
A)
Expenses
are
B)
Expenses
are
C)
D) Liabilities are greater than income
loss
greater
less
occurs
than
than
when
Income
Income
Expenses=Income
Q-28
Double
entry
implies
A)
Recording
entries
B)
Recoding
entries
in
C)
Recording
two
aspects
D) Recording every transaction in books
Q-29
Identify
A)
B)
C)
D) Rent expenses account
Q-30 Which
A)
B)
C)
D)
ANSWERS:
of
the
following
Rent
Rent
insurance
the
Machinery
Building
Creditors
accounts
Cash
can
that
in
Ledger
every
of
journal
account
transaction
nominal
be classified
expenses
income
expenses
account
account
account
account
as
real
account?
account
account
account
account