Multiple Choice Questions (MCQs)
Which of the following schedule of the Company Ordinance 1984 is related to the classification of intangible assets?
If the holding company owns100% shares of the subsidiary company then the subsidiary type will be termed as:
Which of the following is the deduction or allowance allowed by a creditor to a debtor?
Which of the following is INCORRECT for equity of a Public Limited Company?
Prime cost of goods manufactured is the total of:
A Partnership firm has a maximum ______ numbers of partners.
Which institute recommends the adoption of IAS (International Accounting Standards) in Pakistan?
Depreciation is best described as:
The closing balance of inventory will be if: Opening inventory will Rs.1, 000, purchases will Rs.10, 000 and cost of sales will Rs.10,500.
When it is appropriate for a company to use Weighted Average Cost method of inventory?
Which of the following is/are the Classification of Current Assets with respect to the Companies Ordinance 1984?
At least what percentage of voting right is required for assuming an investor company to have significant influence in the affairs of investee company?
Which of the following is Not a qualitative characteristic of financial statements according to the IASB’s Framework?
The closing stock will be shown under the head of ______ in Balance Sheet.
If the holding company owns more than 50% but less than 100% shares of the subsidiary company then the subsidiary type will be termed as:
Which af the following is the ability to govern the financial and operating policies of an enterprise so as to obtain from its activities?
An inventory valuation system should include the cost of:
Which of the following IAS deals with Revaluation of Assets?
If the holding company owns 100% shares of the subsidiary company then the subsidiary type will be termed as:
Which one of the following is the type of stock for trading concerns?
Which of the following may result for an inability to sell a financial asset quickly at close to its fair value?
A Private limited company can be formed at least by:
Who sign the Memorandum of Association (MOA) of a
Which of the following IAS deals with the Borrowing Costs?
How many person(s) is(are) required to takeover the business after the death of a member in case of Single Member company?
Which of the following costs can be capitalized?
Which of the following is an artificial person recognized by law?
IAS-16 deals with:
Revaluation of asset is conducted by:
Which of the following is original and planned investigation undertaken with the prospect of gaining new scientific or technical knowledge and understanding?
If the holding company owns marginally less than 100% shares of the subsidiary company then the subsidiary type will be termed as:
Section 95A of the Companies ordinance 1984 is applied on which of the following companies?
Which of the followings information(s) should be disclosed by a company in respect of long term loans made to others?
Concept of Related Parties is defined in:
Which of the following sections of the Companies Ordinance 1984 is related to the Annual General Meeting?
Companies are registered under:
If an intangible resource does not fulfill the criteria of intangible asset then what will be the treatment of expenditures incurred to acquire such intangible resource?
WXY Private Limited was incorporated on 1st Jan, 2010.According to local legislation, in how much time period company WXY is required to prepare its first annual accounts?
Which of the following is/are the method(s) for calculating the cost of inventory?
Money set aside by limited companies to distribute among shareholders is called.
Total factory cost of a manufacturing concern consists of
Preparation and presentation of Financial Statements are governed by:
What should be the treatment of research cost incurred by a business according to IAS-38?
What will be the accounting treatment of loss in the books of accounts of a company which arises from the revaluation of an asset?
Which one of the following methods for inventory valuation is NOT suitable for homogeneous units?
Which of the following is NOT a Qualifying Asset?
Sitara Textile is using the prudence concept to record the profit in its income statement. According to prudence concept, Sitara Textile will record profit when it is:
Which of the following methodology is adopted for the valuation of investments in associated companies?
Which of the following is the type of business owned by one person?
When it is suitable to use specific identification cost method?
Which activities by definition do not fulfill the recognition criteria according to IAS-38?
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