Conversion Cost is calculated as under?

• A. Labour plus materials
• B. Labour plus overheads
• C. Labour minus overheads
• D. None of these

Accumulated loss of a company is shown in the balance sheet as?

• A. Liability
• B. Asset
• C. As foot note to balance sheet
• D. None of these

Under the companies ordinance 1984, disclosure of financial information is legally required for listed companies under?

• A. Schedule 6
• B. Schedule 5
• C. Schedule 4
• D. Schedule 8

Trading loss occurs when?

• A. Revenues exceed the matching relevant cost
• B. Revenue and matching costs are equal to each other
• C. When relevant matching cost exceeds revenues
• D. None of these

Accounting requirements governing NGOs are Prescribed in?

• A. Partnership act 1932
• B. Cooperative societies legislation
• C. Companies ordinance 1984
• D. None of these

Work sheet is equivalent to?

• A. Balance sheet
• B. Income statement
• C. Trail balance
• D. None of these

The following represent tangible assets and are shown in the balance sheet as?

• A. People
• B. Expenses
• C. Revenue
• D. Goodwill

Under the Rule of thumb a good current ratio is?

• A. 6 : 1
• B. 10 : 1
• C. .5 : 1
• D. 2 : 1

Pakistan follows the following budgeting system at federal level?

• A. Zero-based budgeting
• B. Program budgeting
• C. Incremental / decremental budgeting
• D. Responsibility budgeting

PSX is a/an ____ company?

• A. Limited by shares
• B. Unlimited liabilities
• C. Single member
• D. Limited by guarantee