SPSC - Accountant 2024 Past Paper with Answers

Practice the SPSC - Accountant 2024 past paper with 50 solved MCQs, answers and topic coverage.

50 solved MCQs across 1 approved paper

Fill in the blank with appropriate word: The new findings on the virus caused panic among the scientists and management ______?Answer: Alike Pakistan was officially removed from FATF grey list on which date?Answer: 21 October 2022 Which of the following is the main aim of Cost Accounting?Answer: All of these In a bank reconciliation, deposits in transit are ______?Answer: Added to the bank balance Idiom "Fall between two stools" means _____?Answer: To come between two alternatives, and so fail to fulfill either of them ______ is a high-risk, high-yield bond.Answer: Junk bond The term 'EVA' is stands for ______?Answer: Economic Value Added One word substitution. A state, society, or group governed by old people:Answer: Gerontocracy There is deterioration in the management of working capital of XYZ Ltd. What does it refer to?Answer: That debtors collection period has increased A key factor is one which restricts?Answer: All of these According to Kurt Lewin, which of the following is not a stage in the change process?Answer: Restraining The ratios that refer to the ability of the firm to meet the short term obligations out of its short term resources?Answer: Liquidity ratio One word substitution: Killing of one's son or daughter _____?Answer: Filicide Small items like, pencils, pens, files etc. are written off within a year according to ______ concept.Answer: Materiality The cost which is to be incurred even when a business unit is closed is a ______?Answer: Shutdown cost Cost concept basically recognizes ______?Answer: Historical cost “Dear Money” is used for:Answer: High Rate of interest Identify which is wrong rule?Answer: Real account-credit what comes in MOST stands for _____?Answer: Mission, Objectives, Strategies and Tactics IAASB is an abbreviation for ____?Answer: International Auditing and Assurance Standards Board The accounts that records expenses, gains and losses are ______?Answer: Nominal accounts The NBC Company reports net income of $60,000. If partners N, B, and C have an income ratio of 50%, 30%, and 20%, respectively, C's share of the net income is _____?Answer: $12,000 Which one of the following is correct? Capital is equal to assets minus liabilitiesAnswer: Capital is equal to assets minus liabilities A bookkeeper mistakenly treats a capital expenditure item as revenue expenditure. What is the effects of this error?Answer: Total assets are understated Fundamental accounting assumptions are ______?Answer: All of these Idiom "Fly in ointment" means ______?Answer: Something that spoils a pleasant or enjoyable experience Following World War II, the United States and other countries sought to liberalize trade among each other. The first major postwar step toward trade liberalization was the ______?Answer: General Agreement on Tariffs and Trade Organization The liabilities that are payable in more than a year and are not be liquidated from current assets?Answer: Current liabilities Real accounts records _______?Answer: Dealings in commodities The Antonym of "Querulous" is?Answer: Uncomplaining