Preparation test For ____________________

Total Marks 100

Student Name

Time Allowed: 90 Mins.

______________________

Instructor Name
PART-English
1. More of us would die than out of it.
(a) Verb

(b) pronoun

(c) adverb (d)Adjective

2. Identify the correct word :

(a) Coordination

(b) Corridination

(c) Coordention (d)coardiantion

Prepositions
3. The players agreed to abide _______ the referees decision:
(a) With

(b) by (c) in (d) into

4. A junior cashier has absconded ________ ten thousand rupees.

(a) With

(b) for (c) in (d) to

5. He was abstained ______ salted food by the doctor.

(a) from

(b) for (c) in (d) to

6. The new teacher was very slow to adapt ________ the unusual rules of the school
(a) into

(b) for (c) in (d) to

7. He became addicted ________drugs quite an early stage

(a) into

(b) for (c) in (d) to

Synonyms
8. Bilingual
(a) clear inexpression of ideas

(b) of the brain

(c) talkative (d) using two

languages
9. Misapprehension:

(a) Wrong

10.Waive:

(a) abandon (b) demand

11.Warrant:

(b)Mistaken idea

(a) special guard

(c) Trickery (d) Unfair Seizure

(c) anticipate (d) lapse

(b) written authorization

emergency(d) small payment

12.

Zest: (a) Enthusiasm (b) scrape

(c) morose (d) furry

Antonyms
13.Choke: (a) Air

(b) strangle

(c) strife (d) none of these

14.Soul: (a) matter

(b) vital

(c) ego (d) mind

15.Subsequent (a) preceding (b) following

(c) current (d) future

16.Superficial: (a) artificial

(c) shallow (d) real

17.Tacit: (a) Written(b) order

18.Tedious: (a) lively

(b) deep

(c) oral (d) understanding

(b) pleasant (c) lovely (d)gay

Correction

19.(a) He speaks always the truth

(b) He speaks the truth always
(c) He always speaks the truth
(d) Always he speaks the truth
20.(a) I expect he will grant me an interview
(b) I think he will grant me interview

(c) national

(c) I hope he will grant me an interview

(d) I hope he shall grant me interview
PART- Subject
21.What is the amount earned from goods and services called?
(a) Growth

(b) Revenue

(c) Credit (d) profit

22.A cost that changes with a number of units produced, but that can never be zero, is
what kind of cost? (a) mixed cost(b) variable

(c) fixed cost (d) product

23.The federal budget of Pakistan includes::

(a) Direct taxes and indirect taxes (b) Proportional and progressive taxes
(c) Simple and difficult taxes (d) (a) & (b) of above

24. Income tax in Pakistan is (a) Direct and progressive

(b) Direct and proportional

(c) Indirect

(d) Indirect and proportional

and progressive

25. Cash budget excludes the following:

(a) Non-Cash items
(b) Cash items
(c) Purchase on Credit items.

26. Fixed Cost:

a. Changes with production
b. Never changes even if production capacity is doubled
c. None of the above

27. Process Costing is relevant to:

a. Cement industry
b. Job Order cost oriented Projects
c. None of the above

28.An auditor is liable for his annual budget accounts to (a) Owners (b) Creditors (c)
Bankers (d) none
29.Sources of funds can be increased by (a) Decreasing selling price (b) Increasing
expenditure

(c) None of the above (d)

30. The master budget includes

(a) as income statement (b) a balance sheet (c) a cash budget (d) all of these

31. Which one of the following account would usually have credit balance?
(a) Cash (b) Account payable (c) Equipment (d) Salaries expense

32.Which of the following is control account,

Capital

Prepaid rent Accounts receivable Salary Payable

33.The procuring agency shall keep all information regarding the bid evaluation
confidential until the time of announcement of the evaluation report in accordance
with the requirements.

Rule 32

Rule 33

Rule 34

Rule 35

34.What does the certification CA stands for?

Accrued revenue

Chartered accountant

Control Account

none

35.________means a person who submits a bid;

bid

bidder contractor

competitive bidding

36.________________ means a procedure leading to the award of contract where by all the
persons, firms, companies, organizations may bid for the contract and includes both
national bidding and international bidding;
bid

bidder contractor

competitive bidding

37.___________ means a person, consultant, firm or company or an organization who

undertake to supply goods services or works

bid

bidder contractor

competitive bidding

38.____________ means procurement of the same commodity from the same source
without completion and include enhancement of contract
emergency

repeat order suppliers

Value for money

39.If the procuring agency has rejected all bids under rule 33 it may called for
emergency

repeat orders

re-bidding

value for money

40.The Annual Financial statement or the statement of the estimated receipts and
expenditure of the Govt. in respect of each financial year is popularly known as
production

budget

contribution budget

sales

41.In order to communicate, motivate and delegate managers need what kind of skill
political skills conceptual skills

technical skills

interpersonal skills

42.If annual consumption is 9000 units, the cost of ordering is 120 and the storage and
holding cost per unit is 1.5 then the economic order quantity is
1200 units

600 units

849 units

283 units

43.Which of the following budget produced first

production budget sales budget purchase budget

master budget

44.Which of the following is NOT a function of management

Planning

organizing

motivating

leading

45.As detailed guidance presented in this FAM, professional judgment is:

Always required

standard working paper kit

Audit code Audit

manual
46.Professional judgement can be
eliminated

cant eliminated

must eliminated may be eliminated

47.Person is classified into categories

one

two

three four

48.Which of the following relation doesnt fall under the definition of family according to
pension rules

son

daughter

wife

brother

49.Super anuation pension is awarded on retirement before attaining the age of

superannuation is 25 year

30 year

35 year

None

50.Re-appropriation means the _________ of funds to meet the expenditures

allotment

re-allotment

fixing

none

51.A supplementary grant may be in respect to

one major head

more major head

minor heads

all of these

52.Operations budget normally cover a period of

One year or less

one to five years

one to two years

53.The various components of a budget are usually prepared by;

Staff management The budget director

the controller

54.The main object of audit is

expression of opinion
Detection and prevention of fraud and error
Both a & b
Depend on the type of audit
55.The fixed-variable classification has a special significance in the preparation of

Flexible budget

master budget

cash budget

capital budget

56.In a job cost system, costs are accumulated

By specific job
By department or process
By kind of material
On a monthly basis
57.Direct material is a
Fixed cost

variable cost semi-variable cost

58.The stock-keeper should initiate a purchase requisition when stock reaches

Minimum level

maximum level

re-order level

59.Toy manufacturing company should use

Unit cost

batch costing

job costing

60.A copy of customers account in the banks ledger is called

Deposit statement balance statement bank statement
61.A cost incurred in past and hence irrelevant for current decision making is a
Fixed cost

sunk cost

direct cost

none

62.Adds for procurement can be given in

Urdu English

local language

all of above

63.Mis-procurement means
Deter procurement
Breach of procurement rules
Supply of defective material
64.The amount of money in the account of account holder
Profit interest

deposit

loan

65.Commercial bank is called

bankers bank

bank of public

custodian of exchange

66.Which of the following item is a current asset

unearned revenue real estate held for resale temporary investment
patent
67.Which of the following accounts have normally a credit balance
Cash Accounts payable

equipment

salaries

68.Which of the following does not appear on the work sheet

The unadjusted Trial balance

Adjusting entries

closing entries

69.Net income plus operating expense is equal to

Net sales

cost of goods available for sale

gross profit

CGS

70.A cash sale of merchandise should be recorded in

Sales journal

general ledger

cash receipt journal

71.The inventory method that assigns the most recent costs to cost of goods sold is:
FIFO LIFO

AVERAGE

72.Working capital is equal to

Specific identification

C.A- C.L

73.Which of the following is a intangible asset

F.A- C.L

Liquid assets-C.L

machine

equipment

patent

74.Which of the following cost is not a period cost

Sales people salaries

factory rent general admn. cost R& D

75.Total manufacturing cost for a period includes all of the following costs except

raw material used

direct labor cost

cost of goods completed

76.Quick assets includes

cash accounts receivable
77. Deferred taxation is

marketable securities

liability

asset

all

expense none

78.PAO stands for

Principal accounting officer

Principal audit officer

both

none

79.PPRA
80.DDO.
81.AGPR
82.FAM..
83.COA.
84.LPC..
85.Unsettled claims must be settled through
Competent authority

arbitration

law coverts

86.The payment of bill shall not exceed

25 days

40 days

87.PPRA Rules applied

2004

2006 none

2003

60 days

88.Depreciation is same in case of

fixed installment method

reducing balance method

89.Which of the following is not a method of depreciation

replacement method

reducing method

straight line method

revaluation
90.How fixed assets normally recorded
at book value

at cost

at replacement cost
12 months

at scrap value

91.Leave encashment period is

6 months

15 months

92.The deputation period is

pensionable non-pensionable

excluded

93.Approval of the report is the responsibility of

Auditor general
94.Prepaid expense is

director general
Asset

liability

DAG
expense

none

95.PIFRA.
96.Conversion cost.
97.FIFO stands for .
98.A contra entry appears on both sides of an account
Cash book
99.Discount is the
100.

trial balance journal

personal account

Bank account is a real account

Nominal account

none

personal account

none

************************Best of luck *****************************