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Advance Accounting and Auditing
Quick assets include which of the following?
Cash
Accounts
Receivable
Both a and c
Author:
rikazzz
Comment
Advance Accounting and Auditing
In Pakistan insurance company can be formed and is registered under the :
Companies Ordinance 1984
Baking Companies Ordinance 1962
Insurance Ordinance 2000
None of these
Author:
rikazzz
Comment
Advance Accounting and Auditing
Which one is not a feature of process costing?
Classification of costs into fixed and variable
Emergence of more than one product
Equivalent production
None of these
Author:
rikazzz
Comment
Advance Accounting and Auditing
Based on this data RE-order level is:
4500 units
3900 units
1200 units
400 units
Author:
rikazzz
Comment
Advance Accounting and Auditing
Completion of a job is a result in:
DR Finished goods CRWIP
DR Cost of goods CR Finished goods
DR WIP CR FOH control
DR FOH control CR FOH applied
Author:
rikazzz
Comment
Advance Accounting and Auditing
When preparing a production budget, the quantity to be produced equals:
Sales quantity + opening stock +closing stock
Sales quantity – Opening stock+ Closing stock
Sales quantity -Opening stock-Closing stock
Sales quantity
Author:
rikazzz
Comment
Advance Accounting and Auditing
If sales increase by 10% from year 1 to 2 and cost of goods sold increase only 6% the gross profit on sales will increase by:
0.04
0.1
0.06
None of these
Author:
rikazzz
Comment
Advance Accounting and Auditing
Audit program is prepared by:
Audit staff
Chief accountant
Directors
Audit management
Author:
rikazzz
Comment
Advance Accounting and Auditing
Which of the following rental income is exempted from tax under the head income from property?
Property income held under trust
Self-occupied residential property
Income from agriculture building
All of the above
Author:
rikazzz
Comment
Advance Accounting and Auditing
Net income plus operating expenses in equal to:
Net sales
Cost of goods available for sale
Cost of goods sold
Gross profit
Author:
rikazzz
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