Friday, December 27, 2019

Accounting MCQS December 27, 2019

Accounting Quiz

Accounting Quizzes

Accounting Multiple Choice Questions (MCQs). Accounting Quizzes from 11 to 15.

Page: 1 | 2 | 3 | 4 | 5

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 Quiz

Accounting Multiple Choice Questions (MCQs). Accounting Quiz from 6 to 10.

Page: 1 | 2 | 3 | 4 | 5

6. What from the following is NOT a current asset?
(A) Patent rights
(B) Inventory
(C) Cash
(D) Trade receivables

7. What from the following is NOT a non-current asset?
(A) Capital
(B) Property
(C) Patent rights
(D) Inventory

8. What from the following is/are NOT tangible asset(s)?
I. Patent rights
II. Goodwill
III. Land
(A) I only
(B) II only
(C) I and II only
(D) I, II and III

9. A machine price was $1,000 and was carried through a truck. The truck’s fares were $500. The engineers charged $500 for the installation. The cost of the machine is?
(A) $1,000
(B) $1,500
(C) $2,000
(D) $2,500

10. Depreciable amount =
(A) Cost of an asset + Residual value
(B) Cost of an asset – Residual value
(C) Residual value – Cost of an asset
(D) None of these

ANSWERS: ACCOUNTING QUIZ
6. (A)
7. (D)
8. (C)
9. (C)
10. (B)

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Accounting MCQS December 27, 2019

Accounting MCQS

Accounting MCQs | FPSC, SPSC, NTS Test Preparation

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.

RELATED PAGE
— Auditing MCQs

Page: 1 | 2 | 3 | 4 | 5

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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COMMERCE MCQS December 27, 2019

COMMERCE MCQS

Page: 1 | 2 | 3 | 4

21. The Internal Rate of Return (IRR) is the rate of discount that makes Net Present Value (NPV)
(A) zero
(B) one
(C) positive
(D) negative

22. An investment should be accepted if its Net Present Value (NPV) is
(A) 0
(B) 1
(C) positive
(D) negative

23. An investment should be accepted if
(A) Rate of Return > Opportunity Cost
(B) Rate of Return < Opportunity Cost
(C) Rate of Return = Opportunity Cost
(D) A, B and C are irrelevant

24. World Trade Organization (WTO) was established on 1 January
(A) 1993
(B) 1995
(C) 1997
(D) 1999

25. The main function of WTO is to ensure that trade flows:
I. smoothly
II. freely
III. predictably
(A) I only
(B) II only
(C) I and II only
(D) I, II and III

ANSWERS: COMMERCE QUESTIONS
21. (A) zero
22. (C) positive
23. (A) Rate of Return > Opportunity Cost
24. (B) 1995
25. (D) I, II and III

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COMMERCE MCQS December 27, 2019

COMMERCE MCQS

Commerce multiple choice questions (MCQs).

Page: 1 | 2 | 3 | 4

16. Which of the following is the safest investment?
(A) Treasury bills
(B) Government bond
(C) Corporate bond
(D) Stocks

17. Net Present Value (NPV) is calculated as
(A) cash inflow – cash outflow
(B) cash outflow – cash inflow
(C) PV of cash inflow – PV of cash outflow
(D) PV of cash outflow – PV of cash inflow

18. IMF provides assessments of latest public finance developments in its
(A) Fiscal Monitor Reports
(B) World Economic Outlook Reports
(C) Global Financial Stability Reports
(D) None of these

19. The ratio between amount of profit and investment is known as
(A) NPV
(B) opportunity cost
(C) risk premium
(D) rate of return

20. In Finance, risk is calculated by calculating the _____ of possible outcomes.
(A) mean
(B) standard deviation
(C) variance
(D) kurtosis

ANSWERS: COMMERCE MULTIPLE CHOICE QUESTIONS
16. (A) Treasury bills
17. (C) PV of cash inflow – PV of cash outflow
18. (A) Fiscal Monitor Reports
19. (D) rate of return
20. (B) standard deviation

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COMMERCE MCQS December 27, 2019

Page: 1 | 2 | 3 | 4

11. An investment is believed to be risky if
(A) it is dangerous
(B) it has low returns
(C) its returns are uncertain
(D) its raw material is unavailable

12. The World Bank has two goals: to promote shared prosperity in a sustainable way, and to
(A) end extreme poverty
(B) reduce difference between rich and poor
(C) invest on health and education
(D) combat deadliest diseases

13. The World Bank provides loans and grants to pursue
(A) balance of payments
(B) capital projects
(C) exports
(D) education and health related projects

14. GATT is an abbreviation for
(A) General Agreement on Transport and Trade
(B) General Agreement on Tariffs and Trade
(C) Generally Accepted Telegraphic Transfer
(D) Generally Accepted on Trade and Telegraph

15. The headquarter of World Trade Organization (WTO) is located in
(A) London
(B) New York
(C) Washington
(D) Geneva

ANSWERS: COMMERCE QUIZ
11. (C) its returns are uncertain
12. (A) end extreme poverty
13. (B) capital projects
14. (B) General Agreement on Tariffs and Trade
15. (D) Geneva

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COMMERCE MCQS December 27, 2019

COMMERCE MCQS

Page: 1 | 2 | 3 | 4

6. The IMF was established in _____ at the Bretton Woods Conference in the United States.
(A) 1944
(B) 1945
(C) 1946
(D) 1947

7. The IMF’s primary mission is to ensure the stability of the international
(A) money exchange system
(B) money exchange rate
(C) monetary policy
(D) monetary system

8. International Monetary Fund (IMF) provides loans to member countries that are experiencing problems with
(A) excessive loans
(B) balance of payments
(C) poverty
(D) infrastructure development

9. The return that is forgone by investing in a project instead of investing in a financial market at the same level of risk is known as
(A) capital saving
(B) opportunity cost
(C) opportunity saving
(D) internal rate of return

10. Which from the following derivative is not traded on exchanges?
(A) Forward
(B) Future
(C) Bond
(D) Option

ANSWERS: NTS COMMERCE MCQS
6. (A) 1944
7. (D) monetary system
8. (B) balance of payments
9. (B) opportunity cost
10. (A) Forward

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COMMERCE MCQS December 27, 2019

Commerce MCQS

Page: 1 | 2 | 3 | 4

RELATED PAGES
— Accounting MCQs
— Auditing MCQs

1. Which from the following is NOT among essentials of a valid contract?
(A) Consensus ad idem
(B) More than two parties
(C) Lawful consideration
(D) Free consent

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

3. 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

4. Shares of a public company are usually traded on a
(A) central bank
(B) stock exchange
(C) securities & Exchange Commission
(D) hedge fund

5. Selling bonds is a way to
(A) paying debt
(B) improve exchange rate
(C) lend loans
(D) obtain loans

ANSWERS: COMMERCE MCQS
1. (B) More than two parties
2. (A) current assets
3. (C) $1300
4. (B) stock exchange
5. (D) obtain loans

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Bio-Chemistry MCQS December 27, 2019

Bio-Chemistry MCQS

21. A consensus sequence is associated with __________, while a signal sequence is part of __________.
(A) translation, hnRNAs
(B) DNA, translation
(C) transcription, a snurp
(D) hnRNA, a snurp
(E) spliceosomes, translation

22. One would expect to find steroid hormone receptors in the
(A) plasma membrane
(B) endoplasmic reticulum
(C) nucleus
(D) cytosol
(E) none of the above

23. Plants produce energy in their
I. cytosol
II. mitochondria
III. chloroplast
(A) I only
(B) II only
(C) III only
(D) II and III
(E) I, II, and III

24. Select the correct order of events in a person’s response to a bacterial infection:
(A) macrophage ingestion – Helper T cell activation – B cell activation – clonal formation
(B) clonal formation – Helper T cell activation – B cell activation – macrophage ingestion
(C) macrophage ingestion – B cell activation – T helper cell activation – clonal formation
(D) Helper T cell activation – B cell activation – macrophage ingestion – clonal formation
(E) B cell activation – T helper cell activation – clonal formation – macrophage ingestion

25. People who have an extra X chromosome could have gotten it through
(A) non-disjunction
(B) transposition
(C) transduction
(D) crossing over
(E) all of the above

26. The HIV virus infects mostly
(A) complement cells
(B) red blood cells
(C) T-killer cells
(D) T-helper cells
(E) all of the above

27. Which of the following functions can be attributed to DNA polymerase?
(A) It replaces RNA nucleotides with DNA nucleotides
(B) It fixes errors in the replication of DNA
(C) It ads nucleotides to the growing chain at the 3′ end
(D) It is used in the polymerase chain reaction
(E) All of the above are true

28. During translation, the first amino acid
(A) occupies the aminyl site first, then the peptidyl site
(B) occupies the aminyl site before the attachment of the large portion of the ribosome
(C) of the polypeptide chain is methionine
(D) all of the above
(E) none of the above

29. A signal sequence
(A) is a sequence of DNA that begins transcription
(B) is a sequence of RNA that is spliced out in the nucleus
(C) is a sequence of DNA that directs a protein to certain organelles
(D) is a sequence of DNA that attracts transcription factors
(E) is the sequence of tRNA that bonds with the codon of mRNA at the ribosome

30. Northern blotting is used with
(A) DNA
(B) RNA
(C) hnRNA
(D) ssDNA
(E) all of the above

ANSWERS: SAT BIOLOGY (MOLECULAR) SAMPLE PAPER
21. E
22. C
23. E
24. A
25. A
26. D
27. E
28. C
29. C
30. B

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Bio-Chemistry MCQS December 27, 2019

Bo--Chemistry MCQS

11. Which of the following statements about the lac operon is NOT true?

(A) RNA polymerase can be blocked by an active repressor protein attached to the operator
(B) RNA polymerase attaches at a site on the DNA strand, known as the promoter
(C) There is a regulatory gene that is downstream from the structural genes that can inhibit transcription
(D) The regulatory gene produces the active repressor
(E) The repressor protein can be activated by a substance like lactose, called the inducer

12. Which of the following statements about the HIV virus is NOT true?
(A) The viral nucleotides contain ribose
(B) HIV contains uracil, not thymine
(C) HIV infection begins with the entrance of the virus into the host when the gp 120 and gp 41 function to pull the virus across the plasma membrane
(D) HIV makes the host cell produce reverse transcriptase
(E) Immunization against HIV has proven difficult because the virus mutates so rapidly

13. All of the following are means of posttranscriptional control in eukaryotes EXCEPT
(A) the capping of the 58 end with a modified guanosine triphosphate
(B) the addition of a poly-A tail to the 38 end
(C) the cutting out of introns by a spliceosome
(D) the ligation of exons by DNA polymerase
(E) the attachment of signal sequences for direction to specific destinations

14. Which of the following statements is NOT true concerning restriction fragment length polymorphisms (RFLPs)?
(A) Suspects whose fragments do not match any other fragments at a crime scene can be vindicated
(B) The polymerase chain reaction can be used to produce more copies of DNA obtained at a crime scene before RFLP analysis
(C) Most RFLPs use radioactive probes
(D) Most RFLPs occur because of the repetitive nature of DNA
(E) With the advent of PCR technology, restriction enzymes are no longer needed to perform RFLP analysis

15. The number of tRNA molecules required by eukaryotic organisms to ferry around the amino acids is
(A) 64
(B) 63
(C) 45
(D) 23
(E) 20

16. A student using a compound microscope with a 10X ocular lens and a 4X objective lens measured his field of view with a plastic ruler and found it to be 4 mm. He then placed some of his cheek cells on a slide, found them using the 4X objective lens and switched to the 40X objective lens. He counted twelve cells, side by side, that stretched from one side of the field of view to the other. What is the best estimate for the diameter of a cheek cell?

(A) 0.033 mm
(B) 0.132 mm
(C) 0.0132 mm
(D) 0.0033 mm
(E) 1.32 mm

17. In fruit flies, the gray body color is dominant to the black, and long wings are dominant to short. If you crossed a gray, short-winged fly to a black, long-winged fly and got 25 percent gray, long wing; 25 percent gray, short wing; 25 percent black, short wing; and 25 percent black, long wing, what were the genotypes of the parental flies?
(A) Ggll and GgLl
(B) Ggll and ggLl
(C) GGll and ggLl
(D) GGll and GgLl
(E) Ggll and ggLL

18. Which of the following statements about mitochondria is (are) true?

(A) Mitochondria exist in all eukaryotes
(B) Mitochondria exist in bacteria and plants
(C) Mitochondria exist in animals, plants, and fungi
(D) Both (B) and (C) are true
(E) Both (A) and (C) are true

19. The flowing cytoplasm of an active amoeba is
(A) propelled by microfilaments for lipid synthesis
(B) an adaptation for extracellular digestion
(C) composed of microtubules and extracellular matrix
(D) dependent on microfilaments for intracellular circulation
(E) required for nerve transmission

20. In the earthworm, the efficiency of food absorption is increased by the presence of
(A) the liver, which stores extra food in addition to making metabolic enzymes
(B) the cecum, which stores unsuitable intake for excretion
(C) infolds, which add surface area to the intestine
(D) malphigian tubules, which increase the density of the food
(E) the liver, which absorbs excess sugar and stores it as glycogen

NSWERS: SAT BIOLOGY SAMPLE TEST QUESTIONS

11. C
12. D
13. D
14. E
15. C
16. A
17. B
18. E
19. D
20. C

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Bio-Chemistry MCQS December 27, 2019

Bio-Chemistry MCQS

SAT Biology Molecular (Biology-M) Sample Test

NOTE: Biochemistry is related to molecular Biology. Therefore for Biochemistry MCQs, prepare all of the following SAT Biology (Molecular) practice questions.

SAT Biology Molecular (Biology-M) Test Sample Questions Page-1. Following are the sample questions for SAT Biology Molecular (Biology-M). View answers to the questions at the bottom of the page.

1. In human DNA, adenine (A) makes up approximately 30.9% of the bases, and guanine (G) makes up approximately 19.9% of the bases; therefore the percentage thymine (T) and cytosine (C) are
(A) 29.4% T and 19.8% C
(B) 29.8% T and 29.8% C
(C) 19.8% T and 19.8% C
(D) 19.8% T and 29.4% C
(E) 24.9% T and 18.2% C

2. If the chromosomes of a eukaryotic cell were lacking telomerase, the cell would
(A) have a greater potential to become cancerous than one with telomerase
(B) become increasingly shorter with each cycle of replication
(C) not produce okazaki fragments
(D) be unable to take up extraneous DNA from the surrounding solution
(E) produce okazaki fragments

3. Which of the following statements concerning transcription and translation in eukaryotic cells is NOT correct?
(A) Transcription results in the production of mRNA, whereas translation results in the production of polypeptides
(B) Transcription occurs in the nucleus, whereas translation occurs in the cytoplasm
(C) Transcription uses DNA as a template, whereas translation uses mRNA as a template
(D) Transcription results in the production of polypeptides, whereas translation results in the production of mRNA
(E) both (B) and (D)

4. The open, less compacted form of DNA that is available for transcription is known as the
(A) chromatin
(B) heterochromatin
(C) promotor
(D) operator
(E) euchromatin

5. A sequence on a DNA molecule that recognizes specific transcription factors that can stimulate transcription of nearby genes is known as the
(A) promotor
(B) operator
(C) enhancer
(D) euchromatin
(E) none of these

6. During the stage in which insertion of eukaryotic DNA into the plasmid vector occurs, the sticky ends formed by digestion of both DNA types with the same restriction enzyme may join in a recombinant molecule because
(A) the eukaryotic DNA and plasmid DNA will have the same sequence
(B) the eukaryotic DNA and plasmid DNA will have complementary sequences
(C) the plasmid DNA can join with any eukaryotic DNA, regardless of sequence
(D) the plasmid DNA and the eukaryotic DNA cannot join together due to differences in the structure of their DNA molecules
(E) both (B) and (C)

7. Which of the following statements is NOT true of restriction enzymes?
(A) Restriction enzymes protect their bacterial host against intruding foreign DNA from viruses or other bacterial cells
(B) Most restriction enzymes are named after the bacterial organism from which they were first isolated
(C) Each restriction enzyme recognizes a specific sequence of bases on the DNA molecule
(D) Each restriction enzyme cuts at random locations along the DNA molecule
(E) all are correct

8. The uptake of naked DNA from solution by bacterial cells is known as
(A) transcription
(B) electroporation
(C) transduction
(D) translation
(E) transformation

9. The classification of organisms into kingdoms has come under debate in recent years, with most of the debate focused on the
(A) algae and fungi
(B) prokaryotes and simple eukaryotes
(C) algae and plants
(D) fungi and plants
(E) none of these

10. In the steps leading up to the origin of life on earth, early protobionts could not have evolved into living cells without both
(A) competition for resources and the development of hereditary mechanisms
(B) a semipermeable membrane and a nucleus
(C) a semipermeable membrane and the ability to catalyze chemical reactions
(D) a nucleus and the ability to catalyze chemical reactions
(E) both (A) and (D)

ANSWERS: SAT BIOLOGY SAMPLE TEST
1. A
2. B
3. D
4. E
5. C
6. B
7. D
8. E
9. B
10. A

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Bio-Chemistry MCQS December 27, 2019

Bio-Chemistry MCQS

6. The most reduced form of Carbon is
(A) O₂
(B) CO₂
(C) H₂
(D) CH₄

7. The most oxidized form of Carbon is
(A) O₂
(B) CO₂
(C) H₂
(D) CH₄

8. Most of the dry mass in the trunk of a tree is basically derived from
(A) glucose
(B) hydrocarbons
(C) CO₂
(D) amino acids

9. Most of the cholesterol in human’s bloodstream is produced by the
(A) kidney
(B) liver
(C) lung
(D) large intestine

10. Which from the following is NOT a function of lipids?
(A) DNA replication
(B) storing energy
(C) signaling
(D) acting as structural components of cell membranes

ANSWERS: BIOCHEMISTRY QUIZ
6. (D) CH₄
7. (B) CO₂
8. (C) CO₂
9. (B) liver
10. (A) DNA replication

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Bio-Chemistry MCQS December 27, 2019

Bio-Chemistry MCQS

1. A laboratory technique used for the separation of a mixture in order to be analyzed and studied is known as
(A) nitrification
(B) chromatography
(C) catalysis
(D) fermentation

2. Which Chromatography technique is commonly used for analyzing the volatile substances?
(A) Paper Chromatography
(B) Liquid Chromatography
(C) Gas Chromatography
(D) Thin-layer Chromatography

3. The area of chemistry that is generally concerned with the measurement of chemicals in body fluids, such as blood and urine is known as
(A) biotechnology
(B) bioinformatics
(C) genetic engineering
(D) clinical chemistry

4. Use of biotechnology in food production refers to
(A) blue biotechnology
(B) white biotechnology
(C) green biotechnology
(D) yellow biotechnology

5. Bio-Chemistry is concerned with the study of the components of

(A) cells
(B) atoms
(C) molecules
(D) compounds

ANSWERS: BIO-CHEMISTRY MCQS
1. (B) chromatography
2. (C) Gas Chromatography
3. (D) clinical chemistry
4. (D) yellow biotechnology
5. (A) cells

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Tuesday, December 3, 2019

SPSC December 03, 2019

SPSC Notice

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Breaking

Friday, December 27, 2019

Accounting Quiz

Accounting Quizzes

Page: 1 | 2 | 3 | 4 | 5

Accounting Quiz

Accounting Quiz

Page: 1 | 2 | 3 | 4 | 5

Accounting MCQS

Accounting MCQs | FPSC, SPSC, NTS Test Preparation

Page: 1 | 2 | 3 | 4 | 5

COMMERCE MCQS

Page: 1 | 2 | 3 | 4

COMMERCE MCQS

Page: 1 | 2 | 3 | 4

Page: 1 | 2 | 3 | 4

COMMERCE MCQS

Page: 1 | 2 | 3 | 4

Commerce MCQS

Page: 1 | 2 | 3 | 4

Bio-Chemistry MCQS

Bo--Chemistry MCQS

Bio-Chemistry MCQS

Bio-Chemistry MCQS

Bio-Chemistry MCQS

Tuesday, December 3, 2019

SPSC Notice

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