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26. A bank overdraft is shown as a/an _____ balance in the bank statement.
(A) debit
(B) credit
(C) credit – debit
(D) none of these

27. Which from the following is included in the cost of purchases?
(A) Abnormal loss
(B) Freight in
(C) Rent of store
(D) Administrative Salaries

28. Cheques issued but not presented, cause the bank statement balance to be ________  the cash book balance.
(A) greater than
(B) less than
(C) equal to
(D) the two statements are irrelevant

29. The capital of a business is $100,000 and the liabilities are $40,000. What are the total assets?
(A) $40,000
(B) $60,000
(C) $100,000
(D) $140,000

30. Any transaction which cannot be recorded in any book of prime entry is recorded in
(A) Cash book
(B) Petty cash book
(C) General journal
(D) Day books

ANSWERS: ACCOUNTING MCQ
26. (A) debit
27. (B) Freight in
28. (A) greater
29. (D) $140,000
30. (C) General journal

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21. Raw materials that are remaining at the end of the reporting period are treated as
(A) liabilities
(B) expenses
(C) fixed assets
(D) current assets

22. The goods that have been sold to the customers are treated as _____ in the financial statements.
(A) inventories
(B) expenses
(C) income
(D) debt

23. The goods that have not been sold to the customers till the end of the reporting period are considered as
(A) inventories
(B) expenses
(C) sales
(D) purchases

24. The selling price of some goods is $1500 and cost to sell the goods is $200. What is the Net Realizable Value (NRV)?
(A) $1000
(B) $1200
(C) $1300
(D) $1500

25. The selling price of some under-process goods is $1500, cost to finally produce the goods is $300, and cost to sell the goods is $200. What is the Net Realizable Value (NRV)?
(A) $1000
(B) $1200
(C) $1300
(D) $1500

ANSWERS: NTS ACCOUNTING MCQS
21. (D) current assets
22. (B) expenses
23. (A) inventories
24. (C) $1300
25. (A) $1000

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16. The expected disposal value of the asset (after deducting disposal costs) at the end of its expected useful life is called
(A) residual value
(B) net book value
(C) depreciation
(D) substance over form

17. The figure that appears in the statement of financial position, after the depreciation, is known as
(A) depreciation
(B) substance over form
(C) residual value
(D) net book value

18. Which from the following asset is NOT depreciated?
I. Advances
II. Land
III. Machinery
(A) I only
(B) II only
(C) I and II
(D) II and III

19. Depreciation is normally charged as
(A) payable
(B) receivable
(C) expenses
(D) advances

20. A company purchases a non-current asset in Year 1 for $90,000. The depreciation charge is $15,000. What net book value would be recorded in financial position statement (or balance sheet) at the end of Year-2?
(A) $75,000
(B) $60,000
(C) $30,000
(D) $15,000

ANSWERS: ACCOUNTING MULTIPLE CHOICE QUESTIONS
16. (A)
17. (D)
18. (C)
19. (C)
20. (B)

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11. The accounting process of allocation cost of intangible assets is called
(A) Amortization
(B) Depletion
(C) Going Concern
(D) Residual Value

12. The process of recording consumption of natural resources (or wasting assets) is called
(A) Amortization
(B) Depletion
(C) Going Concern
(D) Residual Value

13. The concept that the enterprise will continue in a foreseeable future is known as
(A) Amortization
(B) Depletion
(C) Going Concern
(D) Residual Value

14. What from the following is NOT a capital expense?
(A) Purchase of property
(B) Purchase of office equipment
(C) Replacement of a vehicle,
(D) Repair of a vehicle

15. An item of equipment cost $300,000 and has a residual value of $50,000 at the end of its expected useful life of four years. What is the depreciable amount?
(A) $50,000
(B) $250,000
(C) $300,000
(D) $350,000

ANSWERS: ACCOUNTING QUIZZES
11. (A)
12. (B)
13. (C)
14. (D)
15. (B)

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Accounting MCQS QUIZ

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1. The main source(s) of Generally Accepted Accounting Principles (GAAP) is/are:
(A) Company Law
(B) Accounting standards
(C) Both A and B
(D) None of these

2. What standards are used to prepare financial statements by most of the countries and companies
(A) International Financial Reporting Standards
(B) International Financial Accounting Standards
(C) International Accounting & Auditing Standards
(D) International Risk Reporting Standards

3. The correct form of Accounting equation is
(A) Assets + Liabilities = Equity
(B) Assets – Liabilities = Equity
(C) Assets – Receivable = Equity
(D) Assets + Receivable = Equity

4. A company sold goods worth $5,000 on 5 June and $10,000 on 28 June. The company received the first payment on 25 June and second on 7 July. The company prepared the financial statement on 30 June. What would be the total sale on the financial statement?
(A) $0
(B) $5,000
(C) $10,000
(D) $15,000

5. Advance payments are recognized as
(A) receivable
(B) payable
(C) bad debt
(D) none of these

ANSWERS: ACCOUNTING MCQS
1. (C)
2. (A)
3. (B)
4. (D)
5. (A)

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Accounting Multiple Choice Questions (MCQs) Page-1. The following Accounting MCQs are from basics of accounting, financial accounting, and cost accounting. Find answers to the questions at the bottom of the page.

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1. The main source(s) of Generally Accepted Accounting Principles (GAAP) is/are:
(A) Company Law
(B) Accounting standards
(C) Both A and B
(D) None of these

2. What standards are used to prepare financial statements by most of the countries and companies
(A) International Financial Reporting Standards
(B) International Financial Accounting Standards
(C) International Accounting & Auditing Standards
(D) International Risk Reporting Standards

3. The correct form of Accounting equation is
(A) Assets + Liabilities = Equity
(B) Assets – Liabilities = Equity
(C) Assets – Receivable = Equity
(D) Assets + Receivable = Equity

4. A company sold goods worth $5,000 on 5 June and $10,000 on 28 June. The company received the first payment on 25 June and second on 7 July. The company prepared the financial statement on 30 June. What would be the total sale on the financial statement?
(A) $0
(B) $5,000
(C) $10,000
(D) $15,000

5. Advance payments are recognized as
(A) receivable
(B) payable
(C) bad debt
(D) none of these

ANSWERS: ACCOUNTING MCQS
1. (C)
2. (A)
3. (B)
4. (D)
5. (A)

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National saving officer jobs in FPSC

Note	DOMICILE/ QUOTA: Merit= Four, Punjab=Twenty five (Open merit=Twenty one, Women quota=Three and Minorities/Non-Muslims quota=One), Sindh (Rural)=Five, Sindh(Urban)=Four(Open merit=Three and Minorities/Non-Muslims quota =One), Khyber Pakhtunkhwa=Six, Balochistan=Three, GBFATA=Two and AJK=One.
Case No./Job Title	F.4-23/2020-R NATIONAL SAVINGS OFFICER
Ministry/Department	FINANCE/CENTRAL DIRECTORATE OF NATIONAL SAVINGS
Grade	BS-17
Special Pay
Job Duties	Administrative, Financial, Accounts & Audit.
Job Status	PERMANENT
Eligible Gender	BOTH MALE AND FEMALE CANDIDATES ARE ELIGIBLE
Minimum Age	22
Maximum Age	30
Age Relaxation	plus five (5) years general relaxation in upper age limit.
Qualification/Experience	Second Class or Grade ‘C’ Master’s degree in Economics/ Statistics/ Commerce/ Accounting/ Finance/ Business Administration/ Public Administration/ Cost and Management Accountant/ Chartered Accountant/ Administrative Sciences/ Management Sciences or equivalent qualification from University recognized by HEC.
Domicile	MERIT=4, PUNJAB=25, SINDH(R)=5, SINDH(U)=4, KHYBER_PAKHTUNKHWA=6, BALOCHISTAN=3, GBFATA=2, AJK=1,

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500 patrol officer jobs in FPSC

MINIMUM QUALIFICATION AND PHYSICAL STANDARD OF FITNESS: (i) Second Class or Grade \'C\' Bachelor\'s Degree. (ii) MINIMUM HEIGHT: (a) FOR MALE: 5\'-8\" (b) FOR FEMALE: 5\'-4\" (For candidates of Balochistan height is relaxable by 2\" for male and by 1\" for female). (iii) MINIMUM CHEST MEASUREMENT: 33\"-35\" (Relaxable by 1\"). (iv) Car and Motorcycle driving proficiency required. AGE LIMIT: 18-25 years plus five (5) years general relaxation in upper age limit (No further age relaxation beyond 30 years is admissible for any category including Government Servants). DOMICILE/ QUOTA: Merit=Twenty three, Punjab= One hundred and fifty (Open merit=One hundred and twenty eight, Women quota=Fifteen and Minorities/Non-Muslims quota=Seven), Sindh(Rural)=Thirty four (Open merit=Twenty nine, Women quota=Four and Minorities/Non-Muslims quota=One), Sindh (Urban)= Twenty three (Open merit= Nineteen, Women quota= Two and Minorities/Non-Muslims quota=Two ), Khyber Pakhtunkhwa= Thirty four (Open merit=Twenty nine, Women quota=Three and Minorities/Non-Muslims quota=Two), Balochistan=Eighteen (Open merit=Fifteen, Women quota=Two and Minorities/ Non-Muslims quota= One), GBFATA=Twelve (Open merit=Ten, Women quota=One and Minorities/ Non-Muslims quota= One) and AJK=Six (Open merit=Five and Women quota=One). The Eligibility of shortlisted candidates with regard to (i) Physical Standard of Fitness (ii) Car and Motorcycle driving proficiency as advertised will be determined on the basis of Medical Examination and driving test to be arranged/ conducted by the NH&MP as and when required.
Case No./Job Title	F.4-57/2020-R PATROL OFFICER
Ministry/Department	COMMUNICATIONS/NATIONAL HIGHWAYS AND MOTORWAYS POLICE
Grade	BS-14
Special Pay
Job Duties	i) Enforcement of laws, rules & regulations under National Highways Safety Ordinance (NHSO)-2000. ii) Regulation of traffic on National Highways and Motorways. iii) Road Safety Education to the road users. iv) Briefing to the Commuters on toll plazas and designated points.
Job Status	TEMPORARYLIKELY TO BE PERMANENT,
Eligible Gender	BOTH MALE AND FEMALE CANDIDATES ARE ELIGIBLE
Minimum Age	18
Maximum Age	25
Age Relaxation	plus five (5) years general relaxation in upper age limit
Qualification/Experience	(i) Second Class or Grade C Bachelors Degree. (ii) MINIMUM HEIGHT: (a) FOR MALE: 5'-8" (b) FOR FEMALE: 5'-4" (For candidates of Balochistan height is relaxable by 2" for male and by 1" for female). (iii) MINIMUM CHEST MEASUREMENT: 33"-35" (Relaxable by 1"). (iv) Car and Motorcycle driving proficiency required.
Domicile	MERIT=23, PUNJAB=150, SINDH(R)=34, SINDH(U)=23, KHYBER_PAKHTUNKHWA=34, BALOCHISTAN=18, GBFATA=12, AJK=6,

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Jobs in FPSC Administrative officer

Case No./Job Title	F.4-9/2020-R ADMINISTRATIVE OFFICER
Ministry/Department	REVENUE DIVISION./FEDERAL BOARD OF REVENUE,
Grade	BS-16
Special Pay
Job Duties	(i) To attend all the administrative matters relating to the employees of DR&S. (ii) To act all the financial matter of DR&S. (iii) To attend all the Accounts and Budgetry matters of the department. (iv) To attend all the store and transport related issues.
Job Status	TEMPORARYLIKELY TO CONTINUE,
Eligible Gender	BOTH MALE AND FEMALE CANDIDATES ARE ELIGIBLE
Maximum Age	28
Age Relaxation	plus five (5) years general relaxation in upper age limit.
Qualification/Experience	(i) Graduate. (ii) Five (5) years post qualification experience of Administrative/ Establishment matters in a Government/ Semi Government Organization.
Domicile	PUNJAB=1,

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Jobs in FPSC English Instructor

Case No./Job Title	F.4-6/2020-R INSTRUCTOR (ENGLISH)
Ministry/Department	ESTABLISHMENT DIVISION/STAFF WELFARE ORGANIZATION
Grade	BS-16
Special Pay
Job Duties	i) To teach shorthand, Typing, English Correspondence/ Secretarial procedures & Computer to various classes. ii) To check papers/ speed of the students. iii) To conduct practical for Secretarial procedure. iv) To take daily, weekly, monthly and final test of the students.
Job Status	TEMPORARYLIKELY TO CONTINUE,
Eligible Gender	BOTH MALE AND FEMALE CANDIDATES ARE ELIGIBLE
Maximum Age	28
Age Relaxation	plus five (5) years general relaxation in upper age limit.
Qualification/Experience	(i) Bachelor’s degree from a recognized University. (ii) Speed of 80 w.p.m. in Shorthand (English) and 40 w.p.m in typing at 90% accuracy of actual test. (iii) Two (2) years post qualification practical experience as English Stenographer.
Domicile	PUNJAB=2, SINDH(U)=1, BALOCHISTAN=1, GBFATA=1,

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FIA Questions

A is the right answer

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FIA Question

D is the Right Answer

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Who is the current director general of Federal Investigation Agency (FIA)?

B is the Right ANswer

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4+4-4\times4\div4=? (A) 0 (B) 1 (C) 4 (D) 8

C is the Right Answer

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Choose the word that is most nearly similar in meaning to the word in capital letters

C is the Right Answer

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jobs in national bank of pakistan

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