Current Affairs March 2018

Current Affairs March 2018
All those people in the stands who would catch a six will be awarded equal share from the
award of 1 crore RS as per policy of “Pepsi catch a crore”,How many spectators were
lucky to have their name in the list of PSL-3?.
A. 10
B. 11
C. 12
D. 13
Which player had most ducks in PSL-3?
A. Luke Ronchi
B. Kamran Akmal
C. Shaheen Shah
D. M.Hafeez
Submitted by: Kashif Ashraf
Which player has hit most fifties in PSL-3?
A. Luke Ronchi
B. Kamran Akmal
C. Babar Azam
D. All
Which player has hit most Fours in PSL-3?
A. Kamran Akmal
B. Luke Ronchi
C. Babar Azam
D. JR Denly
Which player has hit most sixes in PSL-3?
A. Luke Ronchi
B. Kamran Akmal
C. SR Watson
D. DR Smith
Who was the only player to hit century in PSL-3?
A. Luke Ronchi
B. Kamran Akmal
C. Fakhar Zaman
D. Sohaib Maqsood
PSL-3 has been promoted on social media by which Hashtag?
A. #HBLPSL 2018
B. #AbKhel6Ka
C. #DilSeJaanLagaDe
D. All of the above
Each foreign cricketer who played PSL-3 play-off matches in Pakistan was paid extra
US$________ for each of the match?
A. 20 thousand
B. 5 thousand
C. 10 thousand
D. 1 thousand
The tickets for final Match of PSL-3 was sold out within _________ hours?
A. 5
B. 4
C. 3
D. 2
Who was the leading wicket taker in PSL-3?
A. Faheem Ashraf
B. Wahab Riaz
C. Both
D. N.O.T
New franchise that joined PSL-3 for the first time was _________?
A. Quetta gladiators
B. Multan Sultan
C. Lahore Qalandar
D. KArachi Kings
How many venues were utilized to Kick-off PSL-3 tournament?
A. 3
B. 2
C. 4
D. 5
How many matches were played in PSL-3?
A. 35
B. 36
C. 34
D. 32
Who was awarded as the “Safe hands in field” award of PSL-3?
A. Kamran Akmal
B. JP Duminy
C. Luke Ronchi
D. M.Hafeez
Who was awarded as the “Player of the Tournament” of PSL-3?
A. Kamran Akmal
B. Luke Ronchi
C. Shadab Khan
D. Wahab Riaz
Who was awarded as the “Best Batsman” of PSL-3?
A. Luke Ronchi
B. Kamran Akmal
C. Babar Azam
D. Kumar Sangakkara
Who was awarded as the “Best Umpire” of PSL-3?
A. Aleem Dar
B. Rashid Riaz
C. Shozab Raza
D. Richard Illingworth
Who was awarded as the “best bowler” of PSL-3?
A. Hassan Ali
B. Faheem Ashraf
C. Wahab Riaz
D. Chris Jordan
Who was awarded as the best Wicket-Keeper in PSL-3?

A. Kamran Akmal
B. Kumar Sangakkara
C. Luke Ronchi
D. Tim Paine
Which player was the Man of the Match in PSL-3 final?
A. Asif Ali
B. Luke Ronchi
C. Sahibzada Farhan
D. Shadab Khan
Mosques of capital are limited to deliver Friday sermon on how many selected topics by
capital administration?
A. 40
B. 45
C. 35
D. 24
Who has acquitted 20 suspects allegedly involved in lynching incident of 2014,wherein a

christian couple was buried alive by a mob?
A. SC
B. Anti terrorism court
C. IHC
D. Lahore high court
Who has paid fine of 10 thousand RS imposed on Aitzaz Ahsan for not appearing in a case
by SC,after Aitzaz Ahsan refused to pay it?
A. Jam Khan Shoro

B. CJP’s Son
C. CJP
D. Bilawal bhutto zardari
Karachi has hosted PSL-3 final on 25 March 2018,before this match Karachi has not
staged a high-profile fixture of international standing since ________?
A. 2010
B. 2011
C. 2012
D. 2009
Psl third edition Final Match was played in which Stadium?

A. Gaddafi stadium
B. National Stadium
C. Arbab Niaz Stadium
D. Jinnah Stadium
Submitted by: Areesha Khan
Which team has won PSL title twice?
A. Peshawar zalmi
B. Islamabad united
C. Quetta gladiators
D. Lahore qalandars
Which team has won third edition of PSL?
A. Peshawar zalmi
B. Islamabad united
C. Karachi kings
D. Quetta gladiators
After how many Years International Cricket Players played in Karachi?
A. 7 years
B. 8 Years
C. 9 Years
D. 10 Years
How many Pakistani entities has been added by USA to sanctions list, that are subjected to
stringent export control measures?
A. 8
B. 9
C. 7
D. 10
Who has ordered private medical colleges to refund the fee received in excess of Rs 850,000
to students within one month?
A. IHC
B. Supreme Court
C. Peshawar high court
D. Sindh high court
Approximately how many nations marked earth hour 2018 including Pakistan?
A. 120
B. 150
C. 185
D. 200
Between what time earth hour was celebrated in Pakistan on 24th March 2018?
A. 7:30 PM – 8:30 PM
B. 6:30 PM – 7:30 PM
C. 8:30 PM – 9:30 PM
D. 9:30 PM – 10:30 PM
In which city Pakistan’s high commission organized Pakistan’s day event,which was
attended by more than 80 diplomats from different countries?
A. Bangkok
B. London
C. Beijing
D. Dubai
Which country has announced it’s support for UNESCO’s Girl’s right to education
programme in Pakistan?
A. S.Korea
B. N.Korea
C. China
D. Germany
Which TV channel in Pakistan has hired a transgender newscaster to become first in

Pakistan’s history?
A. Dawn news
B. Kohenoor news
C. The news
D. Capital TV
Which transgender person has become first news anchor in Pakistan’s history?
A. Navada
B. Marvia Malik
C. Rayna
D. Shayna
Who was the second Governor-General of Pakistan?
A. Liaquat Ali Khan

B. Abdul Rab Nishter
C. Raja Ghazanfar
D. Khawaja Nazim-ud-Din
Submitted by: Hamza
Air Chief Marshal (ACM) Mujahid Anwar is the ___________ Chief of Air Staff of
Pakistan Air Force?
A. 20th
B. 21st
C. 22nd
D. 23rd
Submitted by: Ch.Naeem Kamboh
Who becomes the Youngest Pakistani Cricketer to Receive Sitara-e-Imtiaz, the third
highest civil award of Pakistan?
A. Sarfraz Ahmed
B. Hasan Ali
C. Shahid Afridi
D. Younis Khan
Name the Sri Lankan President, who was the guest of honour at the ceremony of Pakistan
Day 2018?
A. William Gopallawa
B. Dingiri Banda Wijetunga
C. Mahinda Rajapaksa
D. Maithripala Sirisena
Sherry Rehman has become the leader of opposition in senate with the support of ________
members?
A. 31
B. 32
C. 34
D. 33
Pakistan has achieved the lowest ever case count of polio in 2017.The number of total cases
are?
A. 10
B. 9
C. 8
D. 6
General Qamar Javed Bajwa has called on which country’s Minister for Defense on 22
March 2018?
A. Oman
B. Thailand
C. Russia
D. USA
ECP has announced to set up _________ display centres for voters lists in Pakistan?
A. 15487
B. 16487
C. 14487
D. 13487
As per ‘Tobacco Atlas’, how many people are being killed by tobacco-related diseases in
Pakistan annually?
A. 170,000
B. 180,000
C. 160,000
D. 190,000
Burj Khalifa was lighted up with green and white spectacular LED illumination of the
Pakistani national flag on country’s ___________ Pakistan Day?
A. 76th
B. 77th
C. 78th
D. 79th
Which city of Pakistan has hosted Pakistan’s first-ever Biennale?
A. Karachi
B. Lahore
C. Islamabad
D. Rawalpindi
Pakistan women cricket team has won three-match series against which country?
A. Srilanka
B. India
C. Bangladesh
D. Australia
As per report by World Travel and Tourism Council, Travel and tourism contributed
approximately Rs _______ billion to Pakistan’s economy in 2017?
A. 935
B. 940
C. 931
D. 945
Who has become the first female Senate opposition leader in Pakistan?
A. Khushbakht Shujat
B. Sherry Rehman
C. Krishna Kumari
D. Abida Muhammad Azeem
Which country has provided ‘high-performance tracking system’ for Pakistan’s missile
programme?
A. China
B. USA
C. Russia
D. Germany
The Pakistan Space and Upper Atmosphere Research Commission (Suparco) inked deal
with whom to acquire communication satellite (PakSat-MM1)?
A. Aerospace company of China

B. China Great Wall Industry Cooperation (CGWIC)
C. Aerospace companies of Australia
D. Aerospace companies of USA
Pakistan has acquired another communication satellite on March 22,2018 named as

_______?
A. PakSat-MM2
B. PakSat-MM1
C. PakSat-MM3
D. PakSat-MM4
Sohail Ahmed Tipu was found hanging from a ceiling fan at his residence on March 22,
2018.He was working on which position?
A. AC Gujranwala
B. DC Gujranwala
C. AIG Punjab police
D. DIG Punjab police
The _______ Pakistan Day was celebrated across the country on 23rd March 2018?
A. 79th
B. 77th
C. 78th
D. 80th
Sindh government on Pakistan Day 2018 has announced a _______ day reduction in the
sentence of convicts imprisoned in the province’s jails?
A. 90
B. 30
C. 60
D. 120
SBP has denied the issuance of ________ RS banknote, as continuously rumors were
circulating on the social media regarding the issuance of the note?
A. 1
B. 2
C. 10000
D. 5
Which country’s President has been the Guest of Honor on Pakistan Day (23 March 2018)
parade?
A. Srilanka
B. India
C. Bangladesh
D. S.Africa
Pakistani President Mamnoon Hussain has awarded _________ Pakistani citizens and
foreign nationals for their extraordinary services in many fields, including science,
literature, arts, sports and media on 23 March 2018?
A. 145
B. 148
C. 141
D. 139
According to UNICEF’s report, in Pakistan clean drinking water is available to only

_______% of the population?
A. 50
B. 70
C. 30
D. 10
As per study report there will be no or very little clean water available in Pakistan by
____________?
A. 2020
B. 2030
C. 2025
D. 2040
As per International Monetary Fund (IMF) report 2018,Pakistan ranked ______ amongst
countries facing water shortages?
A. 15th
B. 20th
C. 3rd
D. 18th
Pakistan has offered zero duty on 6000 items from which country?
A. China
B. Japan
C. Afghanistan
D. Thailand
Which police officer has been arrested on CJP’s ditective in the Naqeebullah Mehsud
killing case on 21 March 2018?
A. Muhafiz hussain
B. Rao anwar
C. M.Rizwan
D. Noman siddique
Which PSL franchise has announced to not include players in the next edition,those who do
not come to play scheduled matches of PSL in Pakistan?
A. Peshawar Zalmi
B. Quetta gladiators
C. Lahore Qalandars
D. Karachi kings
In which city,embassy of Pakistan has organised Pakistan day reception on 21 March

2018?
A. Brussels
B. New delhi
C. New york
D. Bangkok

Who has replaced Sohail Aman as chief of air staff?
A. Imran Khalid
B. Mujahid Anwar Khan
C. Farooq Habib
D. Arshad Mahmood
Which MNA of PPP has died on 20 March 2018 in New York?
A. Shamas-un-nisa
B. M.Ayaz Soomro
C. Asghar Ali
D. Shabbir Ali
Which famous televangelist,TV host and lawmaker has joined PTI on 19 March 2018?
A. Syed Talhat Hussain

B. Dr Aamir Liaquat
C. Fahad Mustafa
D. Aftab Iqbal
As per study by Pakistan center for philanthropy, what amount Pakistanis give to charity
annually?
A. 300 billion RS
B. 320 billion RS
C. 240 billion RS
D. 380 billion RS
HEC has suspended admissions for M Phil and PhD distance learning programme
administered by how many universities?
A. 15
B. 16
C. 13
D. 12
Which Pakistani court has ordered arrest of TLP leaders in Faizabad sit-in case?
A. SC
B. Anti terrorism court
C. IHC
D. Lahore high court
Which famous leader has stepped down as leader of Kashmir group (Tehreek-e-Hurriyat)?
A. M.Ashraf Sehraie
B. Syed Ali Shah Geelani
C. M.Yasin Malik
D. Mirwaiz Umar Farooq
Which foreign company has announced 11 billion RS investment in Pakistan in march

2018?
A. Adam motor company

B. Unilever
C. Agha steel
D. Al-Ghazi tractors
SC has banned the TV show of which anchorperson for three months on 20 March 2018?
A. Aamir liaquat
B. Dr Shahid Masood
C. Kashif Abbasi
D. Kamran Khan
Who has been appointed as president of Muttahida Majlis Amal?
A. Siraj-ul-Haq
B. Maulana Fazlur Rehman
C. Liaquat baloch
D. Khadim Rizvi
CWI has offered ______ dollars for each player of WI cricket team,who will participate in
the three match t20I series against Pakistan in April 2018?
A. 27000
B. 28000
C. 25000
D. 30000

How many containers were fallen into sea,after two cargo ships collided at Karachi port?
A. 22
B. 23
C. 21
D. 24
Shahida nasreen who has been awarded first position at the 7th International Women
Policing Conference held in Georgia is working on which rank in Pakistan?
A. DSP investigation
B. ASI investigation
C. SI investigation
D. Head Constable
which Pakistani Lady Police Officer has been awarded first position at the 7th
International Women Policing Conference held in Georgia?
A. Shahida Nasreen
B. Mumtaz begum
C. Irum begum
D. Shaista Ikramullah
As per The Economist Intelligence Unit report 2018,Karachi has been ranked as _________
cheapest city in the world?
A. 6th
B. 7th
C. 8th
D. 9th
When Air Chief Marshal Mujahid Anwar Khan take a Command of Pakistan Air force?
A. 16 March 2018
B. 17 March 2018
C. 18 March 2018
D. 19 March 2018
Who is the Current Chief of Air Staff of Pakistan Air Force (PAF)?
A. Sohail Aman
B. Tahir Rafique Butt
C. Mujahid Anwar Khan
D. Rao Qamar Suleman
When FIFA has lifted suspension on Pakistan football federation?
A. 13 March 2018
B. 14 March 2018
C. 15 March 2018
D. 11 March 2018
Four workers of NTS have been arrested from which city involved in leaking the NTS
papers?
A. Abbottabad
B. Swat
C. Larkana
D. Sukkur
Which Pakistani film has become first to premiere at London’s Leicester square?
A. Cake
B. Waar
C. Punjab nahi jaungi
D. Verna
Which country has levied 400 times higher duty on Pakistan goods?
A. Afghanistan
B. India
C. Iran
D. Saudi Arabia
Which country has invited Pakistan to participate in Chahbahar project?
A. Iran
B. China
C. India
D. Turkey
Which Pakistani citizen has been deported from India after staying there illegally for 27
years?
A. Siraj Khan
B. Abdullah
C. Adnan Sami khan
D. Abdul majeed
CM Sindh has approved ________ million Rs for the security and beautification of Karachi
for Pakistan day celebration and PSL final?
A. 210
B. 220
C. 230
D. 240
A woman posing as doctor has been arrested from which hospital?It is suspected that she
has been illegally involved in many surgeries.
A. Jinnah post graduate medical centre

B. Aga khan hospital
C. Fatima memorial hospital
D. Civil hospital Karachi
Which provincial assembly has passed bill to regulate Sikh marriages?
A. Punjab
B. Sindh
C. KPK
D. Balochistan
At least 9 have been killed in a terrorist attack claimed by TTP on 14th march 2018.Which
town suffered the blast?
A. Raiwind
B. Sehwan Sharif
C. Chiniot
D. Gawadar
Pakistan is expected to harvest wheat crop of ________ million tons this season,which will
be the record output of wheat ever harvested in the country?
A. 26
B. 24
C. 22
D. 20
Which NGO has rolled out an election information portal titled “Election Pakistan”?
A. Free and fair election network

B. AED
C. Himalaya foundation
D. AFS intercultural exchange
As per world happiness report 2018,Pakistan has jumped _____ spots from 2017.Previously
in 2017 Pakistan was on 80th position?
A. 5
B. 6
C. 7
D. 8
As per world happiness report 2018,Pakistan has ranked ______ on the index out of 156
countries?
A. 75
B. 76
C. 77
D. 78
SC has indicted which state minister in the contempt of court case on 13 march 2018?
A. Daniyal aziz
B. Nehal hashmi
C. M.tallal chaudry
D. Abid sher Ali
Which country has won lion city cup 2018 (ice hockey tournament)?
A. Pakistan
B. Australia
C. Thailand
D. India
https://pakmcqs.com/category/pakistan-current-affairs-mcqs/page/10
General Knowledge MCQs 2018

Earth’s largest ice volume is present in_____________?
A. Himalayas
B. South America
C. Antarctica
D. North America
The Seven Rila Lakes are located in___________?
A. Bulgaria
B. Hungary
C. Poland
D. Czech Republic
Submitted by: Anand
“Netherlands” literally means_____________?
A. ideal location
B. lower countries
C. mouth of land
D. land of sun set
Submitted by: Anand
The Orange river flows in____________?
A. Indonesia
B. Egypt
C. South Africa
D. Mexico
Submitted by: Anand
Indonesia is a country with around __________ islands?
A. 10,000
B. 11,000
C. 12,000
D. 13,000
Submitted by: Anand
When was the game Frisbee invented?

A. 1860s
B. 1870s
C. 1830s
D. 1850s
Submitted by: WIQAR AHMAD
Who was the First Pakistani Player to have a hundred in T20Is?
A. Ahmed Shehzad
B. Umar Akmal
C. Misbah-ul-Haq
D. Mohammad Hafeez
Submitted by: Shakeel Ahmed
Silk is produced by____________?
A. Egg of silkworm
B. Pupa of silkworm
C. Larva of silkworm
D. Insect itself
Submitted by: Anand
How Many Countries Are Landlocked In Asia?
A. 11 Countries
B. 12 Countries
C. 13 Countries
D. 14 Countries
Submitted by: Anand
26th January is India’s___________ Day?
A. Independence Day
B. Republic Day
C. Revolution Day
D. Parliament Day
Which Country joined SAARC in 2007?
A. Pakistan
B. India
C. SriLanka
D. Afghanistan
Submitted by: Anand
The shortest day is___________?

A. 22 June
B. 22 July
C. 22 September
D. 22 December
Submitted by: Anand
Turkey connects the two continents_____________?
A. Asia and Europe

B. Asia and Africa
C. South America and North America
D. Asia and Australia
Submitted by: Anand
Augusta Raurica is located in___________?
A. Egypt
B. Portugal
C. Switzerland
D. Turkey
Submitted by: Anand
The South Pole of the Earth is located in____________?
A. Norway
B. Antarctica
C. Arctic Ocean
D. Pacific Ocean
Submitted by: Anand
The birthplace of the World Wide Web was__________?
A. NASA
B. Pentagon
C. CERN
D. Microsoft
Submitted by: Anand
The bridge in Istanbul, Turkey that connects Asia and Europe is called_____________?
A. Golden Gate Bridge

B. Akashi Kaikyo Bridge
C. Bosphorus Bridge
D. Royal Gorge Bridge
Submitted by: Anand
Alexandria is a city in_____________?
A. Turkey
B. Egypt
C. Jordan
D. Greece
Submitted by: Anand
About ________% of Antarctica is covered by ice?
A. 97%
B. 98%
C. 99%
D. 100%
Submitted by: Anand
The Pico Island is located in___________?
A. Switzerland
B. Portugal
C. Turkey
D. Egypt
Which city is also called The City of 1,000 Minarets?
A. Istanbul
B. Cairo
C. Makkah
D. Islamabad
Submitted by: Anand
The Pena Palace, a UNESCO World Heritage Site, is located in____________?
A. Egypt
B. Portugal
C. Switzerland
D. Turkey
Submitted by: Anand
The North Pole of the Earth is located in____________?

A. Norway
B. Antarctica
C. Arctic Ocean
D. Pacific Ocean
Submitted by: Anand
Egypt connects which of the following two continents?
A. Asia and Europe

B. Asia and Africa
Submitted by: Anand
Sultan Ahmed Mosque in Istanbul is popularly known as the______________?
A. Green Mosque
B. Blue Mosque
C. Red Mosque
D. Yellow Mosque
Submitted by: Anand
Panama (a country) connects which two continents?
A. Asia and Europe

B. Asia and Africa
Submitted by: Anand
The Mariana Trench is in the ___________ Ocean?
A. Atlantic
B. Arctic
C. Antarctic
D. Pacific
Submitted by: Anand
First Museum of Pakistan established in Karachi on?
A. 17 April 1951
B. 17 April 1950
C. 17 May 1950
D. 25 April 1950
Submitted by: Mansoor Ul Haque

Keemiya-e Saadat was written by________________?
A. Taqi ad-Din Ahmad ibn Taymiyyah

B. Abu Naṣr Muḥammad ibn Muḥammad Al Farabi
C. Abu Abd Allah Muḥammad ibn Ali ibn Muḥammad ibn Arabi al-Ḥatimi aṭ-Ṭati
D. Abu Ḥamid Muḥammad ibn Muḥammad al-Ghazali
The word democracy has been derived from the_____________language?
A. French
B. Latin
C. Greek
D. Arabic
Nagqu is located in which country?
A. China
B. Nepal
C. Bhutan
D. Mongolia
Who is the author of the famous book, “The Spirit of Islam”?
A. Sir Syed Ahmad Khan

B. Syed Ameer Ali
C. Khwaja Salimullah Khwaja Salimullah
D. Sir John Woodroffe
John Austin presented his “Theory of sovereignty” in his book “The Province of
Jurisprudence Determined” which was published in______________?
A. 1832
B. 1935
C. 1717
D. 1736
Insulin drug was discovered by____________?
A. Charles Herbert Best

B. Prof John James Rickard Macleod
C. Sir Frederick Grant Banting
D. Leonard Thompson
Nawab Abdul Latif found the Muhammadan Literary Society in April 1863
at___________?
A. Dhaka
B. Faridpur
C. Calcutta
D. Selhat
John Stuart Mill wrote a famous book ” on liberty” in____________?
A. 1859
B. 1850
C. 1759
D. 1871
Who founded Muhammadan Literary Society in 1863?
A. Shah Waliullah Dehlawi

B. Syed Ameer Ali
C. Nawab Abdul Latif
D. Sir Syed Ahmad Khan
The Indus Waters Treaty water-distribution treaty between India and Pakistan, brokered
by the:
A. International Monetary Fund

B. International Bank for Reconstruction and Development
C. World Bank
D. NATO
The High courts in India were established under the___________________?
A. Indian High Courts Act 1868

B. Indian High Courts Act 1871
C. Indian High Courts Act 1858
D. Indian High Courts Act 1861
Who was the viceroy of Indian during the WWII?

A. Louis Francis Albert Victor Nicholas Mountbatten
B. Victor Alexander John Hope, Marquess of Linlithgow
C. Major Freeman Freeman-Thomas, Marquess of Willingdon
D. Frederic John Napier Thesiger, Viscount Chelmsford
The International Day of Forests is observed every year on______________?
A. March 21
B. March 22
C. March 23
D. March 24
Submitted by: FARHAT NAZ
First Women Bank Limited commenced its business on____________?
A. 02 Nov 1989
B. 02 Dec 1989
C. 02 Dec 1988
D. 01 Nov 1990
Which Country law is considered to be harsh?
A. Iran
B. Saudi Arabia
C. China
D. Ethiopia
Submitted by: Farrukh Awan
Non-permanent members of UN Security Council are elected for term of______________?
A. 1 year
B. 2 years
C. 3 years
D. 5 years
Submitted by: Aziz Muhammad
Braille education system was introduced by Braille for?
A. Blinds
B. Dumb
C. Handicap
D. Labours
“Spirit of Islam” book was written by?

A. Syed Ameer Ali
B. Quaid-e-Azam
C. Allama Iqbal
D. Sir syed
Who was the first asian to receive noble prize in 1913?
A. Rabinder Nath Tagore

B. C.V.Raman
C. I.A.Bunin
D. Mother teresa
Harrapa city is situated on the bank of which river?
A. Ravi
B. Chenab
C. Sutlej
D. Indus
The oldest flag of the world is?
A. Denmark
B. China
C. Japan
D. Greece
The oldest anthem of the world is?
A. Japan
B. China
C. Russia
D. Denmark
Total number UN Security Council members is____________?
A. 5
B. 10
C. 15
D. 20

The General Assembly of UN meets regularly once a year on third Tuesday
of_____________?
A. September
B. October
C. November
D. December
How many official working languages recognized by UN (United Nations)?
A. 4
B. 5
C. 6
D. 7
Read More Details about this Mcq
The UN official birthday is celebrated on____________?
A. December 24, 1945

B. October 24, 1945
C. September 24, 1945
D. November 24, 1945
Pakistan Television started in the reign of_____________?
A. Zulfiqar Ali Bhutto

B. Yahya Khan
C. Zia Ul Haq
D. Ayub Khan
Submitted by: Farman Mohmand
How many states are in Europe
A. 47
B. 48
C. 49
D. 50
Submitted by: Ghazanfar
headquarter of the African Union is located in____________?

A. Johannesburg
B. Cairo
C. Dakar
D. Addis Ababa
Submitted by: Abdul shakoor
What was the name of concrete barrier that physically and ideologically divided Germany
in 1961?
A. Peace Wall
B. Peace Berlin Wall
C. Berlin Wall
D. Peace Wall of Berlin
Submitted by: AYESHA
Wood is the main raw material for the manufacture of ____________?
A. Paint
B. Gun powder
C. Paper
D. Ink
Submitted by: Iram Saleem
In the manufacture of banaspati ghee the gas used is __________?
A. Helium
B. Hydrogen
C. Oxygen
D. Nitrogen
________________is the fear of bathing?
A. Agoraphobia
B. Acrophobia
C. Ablutophobia
D. Hydrophobia
Submitted by: Fahad iqbal
Which US president resigned while in office ?
A. Richard Nixon
B. Jimmy Carter
C. Ronald Reagan
D. J. F. Kennedy
____________ is a famous beverage today , originally it was the name of a medicine?
A. Coca Cola
B. Lemonade
C. Pepsi
D. Soda water
Father of rivers is called ____________?
A. Indus river
B. Amazon river
C. Manchar river
D. Keenjhar river
Submitted by: Paras iqbal
Angela Merkel is a German Politician serving as Chancellor of Germany

since___________?
A. November 2003
B. November 2005
C. November 2008
D. November 2011
Which country has no railway track?
A. Afghanistan
B. China
C. Russia
D. Somalia
Spectrum is made of ____ colors?
A. 7
B. 8
C. 6
D. 9

Blind dolphins are found in which river of Pakistan?
A. Indus
B. Jehlum
C. Kabul
D. Chenab
Where the Pakistan’s first radio station was setup?
A. Karachi
B. Lahore
C. Multan
D. Islamabad
Who was the last mughal emperor to sit on the peacock throne?
A. Muhammad Shah
B. Aurangzeb
C. Shah zafar
D. Shah alam II
Digital computer was invented by?
A. Howard Alken
B. Steve Jobs
C. Charless babbage
D. James watson
Steve jobs was an american and he was founder of?
A. Apple
B. Google
C. Yahoo
D. Oracle
Hardest substance in the human body is?
A. Enamel
B. Nail
C. Bone
D. N.O.T
Famous painting “The sunflower” is painted by?
A. Vincent van gogh

B. Banjamin west
C. Gustav klint
D. Pablo picasso
The first truly global war was?
A. Seven years war

B. Hundred years war
C. WWII
D. Thirty years war
Napoleon regarded which battle as his greatest victory?
A. Austerlitz
B. Arras
C. Amiens
D. Assayer
The first war b/w Arabs and Israel was fought in?
A. 1948
B. 1946
C. 1942
D. 1940
Who gave the title of Mahatma to Gandhiji?
A. Rabindranath tagore
B. Lala lajpat roy
C. Abu kalam azad
D. None
The chemical that is used in making artificial rain is?
A. Silver iodide
B. Silver nitrate
C. Silver chloride
D. Silver nitrite
What approximate part of J&K is under india’s occupation?
A. 75%
B. 60%
C. 90%
D. 50%
Which is the largest country in Africa?
A. Sudan
B. Nigeria
C. Libya
D. S.africa
The term of office of a judge of the ICJ is?
A. 9 years
B. 8 years
C. 7 years
D. 6 years
In which month does the Un general assembly meet annually?
A. September
B. October
C. November
D. December
Who was the founder of HAMAS in 1987?
A. Sheikh Ahmed yassin

B. Yasser arafat
C. Abdul majeed
D. Zulfiqar Ali
Asian developement bank was established in?

A. 1964
B. 1966
C. 1968
D. 1970
Which continent has no desert?
A. Europe
B. N.America
C. S.America
D. Australia
The Highest papulation growth rate among the following countries is in___________?
A. Bangladesh
B. India
C. China
D. Srilanka
Submitted by: Mian Jamil Shah
Corbillion Cup is given in the game of____________?
A. Golf
B. Squash
C. Table Tennis
D. None of these
Dushanbe is the capital of__________?
A. Tajikistan
B. Ukraine
C. kazakhistan
D. Turkmenistan
“FREE TOWN” is the capital of_____________?
A. Somalia
B. Slovenia
C. Cuba
D. Sierra Leone
Harrappa near Sahiwal was centre of___________?

A. Greek civilization
B. Persian civilization
C. Muslim civilization
D. Indus valley civilization
After Pashtun which is the second largest ethnic group of Afghanistan?
A. Uzbek
B. Baluch
C. Tajik
D. Hazaras
Sunlight is composed of___________?
A. Three colours
B. six colours
C. seven colours
D. eight colours
The most urbanized province of Pakistan is__________?
A. Kpk
B. Punjab
C. Baluchistan
D. Sindh
“Taipei” is the capital of__________?
A. Tanzania
B. Vietnam
C. Taiwan
D. Togo
Which of the following country are called “Land of free peoples”?
A. Thailand
B. Japan
C. Norway
D. Canada

8 March is observed internationally as?
A. Women’s Day
B. World Water Day
C. World Health Day
D. Human Rights Day
Read More Details about this Mcq
K2 is also known as?
A. Goodwin Austin
B. Chogori
C. Killer mountain
D. A & B
when was the parachute invented___________?
A. 1560s
B. 1570s
C. 1783s
D. 1470s
Submitted by: ★ ɪʟʏᴀsɪʟᴜ ★
Scientific bureau of Economic Cooperation Organization is situated in______________?
A. Tehran
B. Turkey
C. Qatar
D. Pakistan
Eyeglasses are invented in Italy in________?
A. 1586
B. 1286
C. 1386
D. 1486
Blood which heart pumps to lungs is__________?
A. deoxygenated blood
B. lymph fluid
C. atria blood
D. oxygenated blood

Headquarter of NASA is located in_______?
A. South Wales
B. Berlin
C. Bern
D. Washington
The poorest region of the world is__________?
A. the Middle East

B. sub-Saharan Africa
C. Asia
D. Latin America
Between which of the following was the ancient town of Takshasila located__________?
A. Indus and Jhelum

B. Jhelum and Chenab
C. Chenab and Ravi
D. Ravi and Beas
The Indus Valley Civilization specialized in_______?
A. Town Planning
B. Architecture
C. Craftsmanship
D. All of these
TAPI gas Pipeliine stands for ?
A. Tajikistan, Pakistan, Afghanistan, India

B. Turkey, Pakistan, Afghanistan, India
C. Turkmenistan, Afghanistan, Pakistan, India
D. None of the above
Submitted by: Abdullah
Who is the National Poet of Afghanistan?
A. Amir crore
B. Khushal khan khattak
C. Rehman Baba
D. None of these
Submitted by: Usman Khattak
Who invented optical fiber?
A. Samuel Cohen
B. Narinder Kapany
C. Percy L.Spencer
D. T.H. MaimahA
Which of the following Island group named as ‘Sandwich Island’?
A. Hawaii Island
B. Falkland Islands
C. Greenland
D. Tuvalu
Which of the following is the largest Island of Japan?
A. Hokkaido
B. Honshu
C. Shikoku
D. Kyushu
If we say the child has an IQ of 100, what does this means?
A.The performance of the child is below average.

B.The performance of the child is above average.
C.The mental age of the child is equal to his actual age.
D.The performance of the child cannot be better.
Who was the first president of Uzbekistan?
A. Abdulhashim Mutalov
B. Oʻtkir Sultonov
C. Islam Karimov
D. Nigmatilla Yuldashev
Who defeated Darius III in the Battle of Gaugamela?

A. Aristotle
B. Julius Caesar
C. Napoleon Bonaparte
D. Alexander the Great
Who founded the Achaemenid Empire?
A. Darius I
B. Cambyses II
C. Cyrus the Great
D. Alexander the Great
Which king was first addressed as ‘Your Majesty’?
A. Akbar
B. Louis
C. Victoria
D. Henry VIII
Who is the founder of Greek historiography?
A. Aristotle
B. Herodotus
C. Thucydides
D. Hippocrates
Who became the first ever non Muslim woman elected to Pakistan’s senate?
A. Krishna kumari
B. Sonakshi kumari
C. Payal kumari
D. Soni kumari
Which monarch called himself as the Second Alexander?
A. Akbar
B. Ashoka
C. Samudragupta
D. Ala-ud-din Khilji
What is the national currency of Hong Kong?
A. Taiwan dollar
B. Yen
C. Hong Kong dollar
D. Yuan
When was the first petrol Car developed?
A. 1885-1886
B. 1887-1888
C. 1888-1889
D. 1889-1890
Submitted by: Muhammad Awais
Where is Headquarter of World Economic Forum is in_____________?
A. London
B. Paris
C. Cologny
D. Geneva
Submitted by: Roop
What is the capital of Norway?
A. Vienna
B. Copenhegan
C. Oslo
D. Berlin
Submitted by: Nasir Ud Din
Dr Abdus Slam was born in which city of Pakistan?
A. Lahore
B. Multan
C. Jhang
D. Khushab
Submitted by: Muhammad Rizwan
Members of Association Of Southeast Asian Nations (ASEAN) are____________?

A. 08
B. 09
C. 10
D. 11
Submitted by: Kashif Munir
Capital of Armenia is_____________?
A. Kampala
B. Tbilisi
C. Yerevan
D. Amman
Submitted by: Kashif Munir
Einstein was born in which country ?
A. USA
B. UK
C. France
D. Germany
Submitted by: SYED FAHIM
Sana’a is Capital of_________?
A. Hungary
B. Austria
C. Malta
D. Yemen
Submitted by: Raza Zaman
What is Currency of Mongolia ?
A. Euro
B. Pound Sterling
C. Mongolian togrog
D. Peso
Submitted by: Raza Zaman
What is the old name of Tomato?
A. Tomato
B. Red Ball
C. Union
D. Love Apple
How many Players in Polo Team on each side?
A. 4 Players
B. 6 Players
C. 8 Players
D. 10 Players
Submitted by: Aqsa shahid
How many Players are in a Volleyball Team?
A. 5 Players
B. 6 Players
C. 7 Players
D. 8 Players
How much players are in basketball on the court at one time?
A. 5 Players
B. 7 Players
C. 9 Players
D. 11 Players
How many Players on a field Hockey Team?
A. 12 Players
B. 10 Players
C. 11 Players
D. 8 Players
How many Players are there on a Football Team?
A. 10 Players
B. 12 Players
C. 11 Players
D. 13 Players
Most Populous City in the World is_____________?
A. Delhi
B. Tokyo
C. Karachi
D. Shanghai
Submitted by: Jahangeer Shah
What is the full form of ECL?
A. Exit Cancellation List

B. Exit Control List
C. Exit Common List
D. Excutive Crime List
Submitted by: Aisha Rehman
Mirza Ghalib was born on___________?
A. 20 Dec 1790
B. 27 Dec 1797
C. 21 Dec 1799
D. 25 Oct 1802
Submitted by: Saifullah
Who built Badshahi Masjid ?
A. Zaheer Uddin Babar

B. Naseer Uddin Humayun
C. Aurangzeb Alamgir
D. Shehnshah Akbar
Submitted by: Rehman Ullah
Worlds biggest irrigation scheme ?
A. Lansdowne Pull
B. Lloyd Barrage
C. Sukkur barrage
D. All of these
Antonyms Of Some Common Words MCQS

1. Inevitable- Avoidable
2. Exceptional - Common
3. Permanent- Temporary
4. Dim - Luminous
5. Reckless - Careful
6. Explicit - Ambiguous
7. Incredible- Believable
8. Repel- Attract
9. Rapidly- Slowly
10. Meticulous- Careless
11. Barbarous- Civilized
12. Successor- Predecessor
13. Urban- Rural
14. Conclusive- Indecisive
15. Terminate-Begin
16. Niggardly- Lavishly
17. Advanced- Receded
18. Enlightened- Ignorant
19. Moderate- Extreme
20. Superficial- Thorough
21. Scorn- Admiration
22. Trivial- Serious
23. Loquacious- Reserved
24. Confiscate- Release
25. Often- Rarely
26. Eminent- Notorious
27. Embark upon- Conclude
28. Diffidence- Boldness
29. Paucity- Plenty
30. Triggered- Choked
31. Fastidious- Adjustable
32. Grandiose- Simple
33. Bleak- Bright
34. Insolent- Humble
35. Lurid- Mild
36. Unscrupulous- Conscientious
37. Melodious- Tuneless
38. Contaminate- Purify
39. Frugal- Extravagant
40. Falling off- Improvement
41. Genial- Unkind
42. Shallow- Deep
43. Immune- Vulnerable
44. Veneration- Disrespect
45. Yield to- Resist
46. Concur- Disagree
47. Vague- Precise
48. Humility- Pride
49. Extol- Censure
50. Takes off- Lands
51. Demolish- Build
52. Prevent- Induce
53. Frailty- Strength
54. Collapse- Rise
55. Anxious- Carefree
56. Thrifty- Wasteful
57. Innovate- Copy
58. Enduring- Fleeting
59. Progressive- Retrogressive
60. Purposely- Unintentionally
61. Brave- Timid
62. Opaque- Transparent
63. Hinder- Encourage
64. Zeal- Apathy
65. Shimmering-Gloomy
66. Plausible- Implausible/ Unbelievable
67. Flair- Inability
68. Dormant- Active
69. Hazy- Clear
70. Fantastic- Ordinary
71. Asceticism- Luxury
72. Dissolution- Establishment
73. Unnerved- Confident
74. Harmony- Disagreement
75. Guilty- Innocent
76. Duplicity- Honesty
77. Jocular- Morose
78. Uncompromising- Flexible
79. Desecration- Consecration
80. Far-fetched- Realistic
81. Parallel- Crooked
82. Blocked- Facilitated
83 Turn coat- Loyal
84. Embellish- Spoil
85. Intentional- Accidental
86. Expand- Contract
87. Stimulate- Discourage
88. Perilous- Safe
89. Audacious- Timid
90. Quiet- Pandemonium
91. Genuine- Fictitious
92. Implicit- Explicit
93. Repulsive- Attractive
94. Escalate- Decrease
95. Commotion- Tranquility
96. Manifested- Concealed
97. Vindictive- Forgiving
98. Inaugurate- Terminate
99. Detest- Like
100. Commence- Conclude
101. Prosperity- Adversity
102. Deliberate- Unintentional
103. Disputable- Indisputable
104. Make- Break
105. Depressed- Elated
106. Ham-fisted- Adroit
107. Capture- Liberate
108. Misery- Joy
109. Anarchy- Order
110. Monotony- Variety
111. Latter- Former
112. Diligent- Lazy
113. Philistine- Cultured
114. Ingest- Disgorge
115. Laceration- Healing
116. Disorderly- Organized
117. Glossy- Dull
118. Accomplish- Fail
119. Orderly- Chaotic
120. Strife- Peace
121. Antique- Recent
122. Rapid- Slow
123. Initiated- Concluded
124. Fatigued- Rigid
125. Dynamic- Static
126. Hereditary- Acquired
127. Heretical- Orthodox
128. Implicate- Exonerate
129. Liberty- Slavery
130. Elevation- Reduction
131. Boon- Bane
132. Famous- Obscure
133. Gloomy- Radiant
134. Isolation- Association
135. Contented- Dissatisfied
136. Severe- Mild
137. Fatigued- Energised
138. Flexible- Rigid
139. Delete- Include
140. Evanescent- Eternal
141. Virtue- Vice
142. Confident- Diffident
143. Adamant- Yielding
144. Callous- Sensitive
145. Procrastinate- Expedite
146. Probity- Dishonesty
147. Sporadic- Continual
148. Apposite- Inappropriate
149. Chivalry- Cowardice
150. Sanguine temper- Despairing nature
151. Imperil- Safeguard
152. Consolidated- Disjoined
153. Vituperative- Laudatory
154. Benefactor- Enemy
155. Barren- Fertile
156. Nervous- Composed
157. Evident- Hidden
158. Professional- Amateur
159. Cessation- Commencement
160. Potent- Weak
161. Gregarious- Unsociable
162. Implication- Exoneration
163. Dismal- Bright
164. Meagre- Surplus
165. Flamboyant- Not showy
166. Chronic- Temporary
167. Awkward- Graceful
168. Despair- Hope
169. Validate- Disprove
170. Smug- Dissatisfied
171. Vicious- Virtuous
172. Obscure- Clear
173. Enervate- Strengthen
174. Autonomous- Dependent
Auditing MCQ’s
____________ is a systematic examination of the books and records or a business?
A. Auditing
B. Vouching
C. Verification
D. Checking
The term ‘Audit’ is derived from a Latin word “audire” which means___________?
A. To inspect
B. To examine
C. To hear
D. To investigate
The main object of an audit is _____________?
A. Expression of opinion
B. Detection and Prevention of fraud and error
C. Both (A) and (B)
D. Depends on the type of audit.
An auditor is like a_______________?
A. Blood haunt
B. Watch dog
C. May both according to situation
D. None of these
Process of verifying the documentary evidences of transactions are known as___________?
A. Auditing
B. Testing
C. Vouching
D. Verification
Auditing is compulsory for____________?
A. Small scale business

B. Partnership firms
C. Joint stock Companies
D. Proprietary Concerns
Concealment of shortage by delaying the recording of cash receipts is known

as_____________?
A. Embezzlement
B. Misappropriation
C. Lapping
D. None of these
The fundamental objective of the audit of a company is to_____________?

A. Protect the interests of the minority shareholders
B. Detect and prevent errors and fraud
C. Assess the effectiveness of the company’s performance
D. Attest to the credibility of the company’s accounts
The concept of stewardship means that a company’s directors________________?
A. Are responsible for ensuring that the company complies with the law
B. Are responsible for ensuring that the company pays its tax by the due date
C. Safeguard the company’s assets and manage them on behalf of the shareholders
D. Report suspected fraud and money laundering to the authorities
Why do auditors concentrate their efforts on material items in accounts?
A. Because they are easier to audit

B. Because it reduces the audit time
C. Because the risk to the accounts of their being incorrectly stated is greater
D. Because the directors have asked for it
Which of the following is NOT the responsibility of a company’s directors?
A. Reporting to the shareholders on the accuracy of the accounts

B. Establishment of internal controls
C. Keeping proper accounting records
D. Supplying information and explanations to the auditor
International auditing standards are issued by the______________?
A. International Accounting Standards Board

B. Financial Accounting Standards Board
C. International Standards Board
D. Auditing Practices Board
Which of the following is not true about opinion on financial statements?
A. The auditor should express an opinion on financial statements.

B. His opinion is no guarantee to future viability of business
C. He is responsible for detection and prevention of frauds and errors in financial
statements
D. He should examine whether recognised accounting principle have been consistently
A sale of Rs. 50.000 to A was entered as a sale to B. This is an example of____________?
A. Error of omission
B. Error of commission
C. Compensating error
D. Error of principle
When an auditor is proposed for removal from office, which one of the following is he NOT
permitted to do?
A. Circulate representations to members
B. Apply to the court to have the proposal removed
C. Speak at the AGM/EGM where the removal is proposed
D. Receive notification of the AGM/EGM where the removal is proposed
Which one of the following is NOT a duty of the auditor?
A. Duty to report to the company’s bankers

B. Duty to report to the members
C. Duty to sign the audit report
D. Duty to report on any violation of law
Assuming that it is not the first appointment of the auditor, who is responsible for the
appointment of the auditor?
A. The shareholders in a general meeting

B. The managing director
C. The board of directors in a board meeting
D. The audit committee
The independent auditor’s primary responsibility is to______________?
A. the directors
B. the company’s creditors (payables)
C. the company’s bank
D. the shareholders
How long is the auditor’s term of office?
A. Until the audit is complete

B. Until the financial statements are complete
C. Until the next AGM (Annual General Meeting)
D. Until the directors remove them
Which of the following is correct in relation to materiality?
A. A matter is material only if it changes the audit report

B. A matter is material if the auditor and the directors both decide that further work needs to be
done in the area under question
C. A matter is material only if it affects directors’ emoluments
D. A matter is material if its omission or misstatement would reasonably influence the
decisions of an addressee of the auditors’ report
Which one of the following is NOT considered to be part of planning?
A. Background i.e. industry

B. Previous year’s audit i.e. any qualifications in the report
C. Considering the work to be done by the client staff e.g. internal audit
D. Considering whether the financial statements show a true and fair view
Audit risk is composed of 3 factors. Which of the following is NOT one of those factors?
A. Compliance risk
B. Detection risk
C. Control risk
D. Inherent risk
Which of the following should NOT be considered at the planning stage?
A. The timing of the audit

B. Analytical review
C. Last year’s written representation letter
D. Obtaining written representations
At the planning stage you would NOT consider____________?
A. the timing of the audit

B. whether corrections from the inventory count have been implemented
C. last year’s audit
D. the potential use of internal audit
Which of the following describes sampling risk?
A. The risk of the auditor carrying out a test the wrong way round
B. The risk of reliance on unsuitable audit evidence
C. The risk that the sample does not reflect the population
D. The risk of the auditor reaching the wrong conclusions from testing
Which of the following is NOT an accepted method of selection in sampling?
A. Systematic selection
B. Pervasive selection
C. Random selection
D. Haphazard selection
Which of the following are you unlikely to see in the current file of auditors’ working
papers?
A. Memorandum & articles of association

B. Audit planning memorandum
C. Summary of unadjusted errors
D. Details of the work done on the inventory count
According to ISA 500, the strength of audit evidence is determined by which two qualities?
A. Appropriateness & competence

B. Sufficiency & appropriateness
C. Reliability & extensiveness
D. Objectivity & independence
Which of the following is normally the most reliable source of audit evidence?
A. Internal audit
B. Suppliers’ statements
C. Board minutes
D. Analytical review
The degree of effectiveness of an internal control system depends on:
A. The design of the internal control system and the implementation of the controls
B. The design of the internal controls and the implementation of the control system
C. The implementation of the controls and the correctness of the accounting records
D. The design of the internal control system and the correctness of the accounting records
According to ISA 315, which of the following is NOT an element of the control
environment?
A. Participation of management
B. Information processing
C. Commitment to competence
D. Human resource policies and practices
According to ISA 315, which of the following is NOT a control activity?
A. Performance reviews
B. Physical controls
C. Organizational structure
D. Segregation of duties
Lapping is also known as___________?
A. Teeming and lading

B. Looping
C. Embezzlement
D. Hacking
Goods sent on approval basis’ have been recorded as ‘Credit sales’. This is an example
of____________?
A. Error of principle
C. Error of omission
D. Error of duplication
Which of the following statements is not true?
A. Management fraud is more difficult to detect than employee fraud

B. Internal control system reduces the possibility of occurrence of employee fraud and
management fraud
C. The auditor’s responsibility for detection and prevention of errors and frauds is similar.
D. All statements are correct.
Internal audit is undertaken:

A. By independent auditor
B. Statutorily appointed auditor
C. By a person appointed by the management
D. By a government auditor
The scope of internal audit is decided by the___________?
A. Shareholders
B. Management
C. Government
D. Law
Audit of banks is an example of_____________?
A. Statutory audit
B. Balance sheet audit
C. Concurrent audit
D. All of the above
Concurrent audit is a part of____________?
A. Internal check system

B. Continuous audit
C. Internal audit system
D. None of these
Audit in depth is synonymous for____________?
A. Complete audit
B. Completed audit
C. Final audit
D. Detailed audit
Institute of Chartered Accountants of Pakistan was established in____________?
A. 1949
B. 1956
C. 1961
D. 1972
Which of the following statements is not true about continuous audit?
A. It is conducted at regular interval

B. It may be carried out on daily basis
C. It is needed when the organization has a good internal control system
D. It is expensive
Internal check is carried on by___________?

A. Staff specially appointed for the purpose
B. Internal auditor
C. Supervisor of the staff
D. Members of the staff
Errors of Omission are_____________?
A. Technical errors
B. Errors of principle
C. Compensating errors
Window dressing implies_______________?
A. Curtailment of expenses
B. Checking of Wastages
C. Under valuation of assets
D. Over Valuation of assets
Test Checking refers to___________?
A. Testing of accounts and records

B. Checking of selected number of transactions
C. Examination of adjusting and closing entries
D. Checking of all transactions recorded
Which of the following statements is not correct about materiality?
A. Materiality is a relative concept

B. Materiality judgments involve both quantitative and qualitative judgments
C. Auditor’s consideration of materiality is influenced by the auditor’s perception of the needs of
an informed decision maker who will rely on the financial statements
D. At the planning state, the auditor considers materiality at the financial statement level
only
______the audit risks_______the materiality and_________the audit effort.
A. Lower, Higher, Lower

B. Lower, Lower, Higher
C. Higher, Lower, Lower
D. Lower, Higher, Higher
When issuing unqualified opinion, the auditor who evaluates the audit findings should be
satisfied that the___________?
A. Amount of known misstatement is documented in working papers

B. Estimates of the total likely misstatement is less than materiality level
C. Estimate of the total likely misstatement is more than materially level
D. Estimates of the total likely misstatement cannot be made
In determining the level of materiality for an audit, what should not be considered?
A. Prior year’s errors
B. The auditor’s remuneration
C. Adjusted interim financial statements
D. Prior year’s financial statements
Analytical procedures issued in the planning stage of an audit, generally
A. Helps to determine the nature, timing and extent of other audit procedures
B. Directs attention to potential risk areas
C. Indicates important aspects of business
D. All of the above
Which of the following statements is most closely associated with analytical procedure
applied at substantive stage?
A. It helps to study relationship among balance sheet accounts

B. It helps to discover material misstatements in the financial statements
C. It helps to identify possible oversights
D. It helps to accumulate evidence supporting the validity of a specific account balance
Verification refers to_________?
A. Examining the physical existence and valuation of assets.

B. Examining the journal and ledger
C. Examination of vouchers related to assets.
D. None of the above.
Stock should be valued at_________?
A. Cost
B. Market price
C. Cost or Market price whichever is lower.
D. Cost less depreciation.
Floating assets are valued at____________?
A. cost
B. Market price
C. Cost or market price whichever is lower
D. Cost less depreciation
Goods sold on the basis of ‘sales or return ‘ should:
A. Be included in the stock

B. Not be included in the stock
C. Not be checked by auditor
Of the following, which is the least persuasive type of audit evidence?

A. Bank statements obtained from the client
B. Documents obtained by auditor from third parties directly.
C. Carbon copies of sales invoices inspected by the auditor
D. Computations made by the auditor
Which of the following statements is, generally, correct about the reliability of audit
evidence?
A. To be reliable, evidence should conclusive rather than persuasive

B. Effective internal control system provides reliable audit evidence
C. Evidence obtained from outside sources routed through the client
D. All are correct.
In an audit of financial statements, substantive tests are audit procedures that __________?
A. May be eliminated for an account balance under certain conditions

B. Are designed to discover significant subsequent events
C. Will increase proportionately when the auditor decreases the assessed level of control risk
D. May be test of transactions, test of balance and analytical procedures
The nature, timing and extent of substantive procedures is related to assessed level of
control risk
A. Randomly
B. Disproportionately
C. Directly
D. Inversely
Which of the following factors is most important in determining the appropriations of

audit evidence?
A. The reliability of audit evidence and its relevance in meeting the audit objective
B. The objectivity and integrity of the auditor
C. The quantity of audit evidence
D. The independence of the source of evidence
When is evidential matter, generally, considered sufficient?
A. When it constitutes entire population

B. When it is enough to provide a basis for giving reasonable assurance regarding
truthfulness
C. When it is objective and relevant
D. When auditor collects and evaluates it independently
Which of the following is not corroborative evidence?
A. Minutes of meetings
B. Confirmations from debtors
C. Information gathered by auditor through observation
D. Worksheet supporting consolidated financial statements
What would most appropriately describe the risk of incorrect rejection in terms of
substantive testing?
A. The auditor concludes balance is materially correct when in actual fact it is not
B. The auditor concludes that the balance is materially misstated when in actual fact it not
C. The auditor has rejected an item for sample which was material
Which of the following affects audit effectiveness?
A. Risk of over reliance

B. Risk of incorrect rejection
C. Risk of incorrect acceptance
D. Both A and C
What would most effectively describe the risk of incorrect acceptance in terms of
substantive audit testing?
A. The auditor has ascertained that the balance is materially correct when in actual fact it
is not
B. The auditor concludes the balance is materially misstated when in actual fact is not
C. The auditor has rejected an item from sample which was not supported by documentary
evidence
D. He applies random sampling on data which is inaccurate and inconsistent
Audit programme is prepared by____________?
A. The auditor
B. The client
C. The audit assistants
D. The auditor and his audit assistants
The working papers which auditor prepares for financial statements audit
are___________?
A. Evidence for audit conclusions

B. Owned by the client
C. Owned by the auditor
D. Retained in auditor’s office until a change in auditors
The quantity of audit working papers complied on engagement would most be affected
by__________?
A. Management’s integrity
B. Auditor’s experience and professional judgment
C. Auditor’s qualification
D. Control risk
Which of the following best describes the primary purpose of audit programme
preparation?
A. To detect errors or fraud
B. To comply with GAAP appropriate evidence
C. To gather sufficient
D. To assess audit risk
Which of the following is not an advantage of the preparation of working paper?
A. To provide a basis for review of audit work

B. To provide a basis for subsequent audits
C. To ensure audit work is being carried out as per programme
D. To provide a guide for advising another client on similar issues
The auditor’s permanent working paper file should not normally, include__________?
A. Extracts from client’s bank statements

B. Past year’s financial statements
C. Attorney’s letters
D. Debt agreements
For what minimum period should audit working papers be retained by audit firm?
A. For the time period the entity remains a client of the audit firm.
B. For a period of ten years
C. For a period auditor opines them to be useful in servicing the client
D. For the period the audit firm is in existence.
Which of the following factors would least likely affect the quantity and content of an
auditor’s working papers
A. The assessed level of control risk

B. The possibility of peer review
C. The nature of auditor’s report
D. The content of management representation letter
Which of the following statement is true regarding an auditor’s working papers?
A. They document the level of independence maintained by the auditor

B. They should be considered as the principle support for the auditor’s report
C. They should not contain details regarding weaknesses in the internal control system
D. They help the auditor to monitor the effectiveness of the audit firm’s quality control
Which of the following statement best describes the understanding with respect to
ownership and custody of working papers prepared by an auditor?
A. The working papers may be obtained by third parties when they appear to be relevant
to issues raised in litigation
B. The safe custody of working papers is the responsibility of client, if kept at his premises
C. The working papers must be retained by an audit firm for a period of 10 years
D. Successor auditors may have access to working papers of the predecessor auditors. The
approval of client is not required.
The current file of the auditor’s working papers, generally, should include____________?
A. A flowchart of the internal controls

B. Organisation charts
C. A copy of financial statements
D. Copies of bond and debentures
Auditing is what?
A. Reporting the financial information

B. Examination of financial statements
C. Preparation financial statements
D. maintaining the ledger records
Accounting MCQ’s
A systematic way to maintain the books of accounts is called_________?
A. Accountancy
B. Economics
C. Book Keeping
D. Auditing
An Art of reading, classifying & Summarizing of accounts in a systematic way is

called__________?
A. Accounting
B. Accountancy
C. Auditing
D. Book Keeping
The maintenance of accounts in a systematic way is called__________?
A. Accounting
B. Reading
C. Book Keeping
D. Auditing
Goods Return by the customer are termed as :
A. Purchase return
B. Customer return
C. Sales return
D. Inventory return
Modern system of book keeping is called______________?
A. Double entry system

B. American system
C. Single entry system
D. Italic system
The person to whom goods are sold on credit is called___________?
A. Buyer
B. Seller
C. Debtor
D. Creditor
Double entry means______________?
A. Entry in two sets of books

B. Entry at two ends
C. Entry at two dates
D. Entry for two aspects of the transaction
Discount received is a/an:
A. Asset
B. Expense
C. Liability
D. Revenue
Obligation of the Business are known as___________?
A. Liabilities
B. Revenues
C. Expenses
D. Assets
The amount invested by the proprietor to start the business is called:
A. Capital
B. Business
C. Drawings
D. All of them
Cash discount is provided on _______________?
A. Purchases
B. Prompt payment
C. Sales
D. Sales return
Goods return to customer are known as:

A. Merchandise return
B. Purchase return
C. Return inwards
D. Sales return
The excess of current assets over current liabilities is called:
A. Working Capital
B. Circulating capital
C. Fixed capital
D. Trading capital
When goods, in which business deals are sold, it is called___________?
A. Purchases
B. Return inward
C. Sales
D. Return outwards
Sales return is also known as____________?
A. Return received
B. Return Payed
C. Return inward
D. Return outward
(more…)
reduction in price is called:
A. Paid price
B. Invoice price
C. Book price
D. Discount
Cash brought by the owner to start business is called__________?
A. Capital
B. Loan
C. Drawing
D. None of these
The concession received on the price of defective goods is called:
A. Discount
B. Cash discount
C. Allowance
D. Trading discount
In support of business transaction, any written evidence is called ___________?

A. Discount
B. Voucher
C. Allowance
D. Price
Building and furniture are called ____________?
A. Current asset
B. Fictitious asset
C. Tangible asset
D. Fixed assets
For the business, capital is ____________?
A. Expense
B. Liability
C. Assets
D. All of them
When owner withdraw cash for its private use, it is called ___________?
A. Profit
B. Income
C. Expense
D. Drawing
Assets having physical existence are called ___________?
A. Current asset
B. intangible asset
C. Tangible asset
D. Liquid asset
The assets which have some market value are called ____________?
A. Fixed asset
B. Quick asset
C. Fictitious assets
D. Real assets
The assets which come into existence upon the happening of a certain event are
called__________?
A. Contingent assets
B. Fixed assets
C. Fictitious assets
D. Quick assets
Income earned but not received is called ____________?

A. Fictitious assets
B. Quick asset
C. Real asset
D. Outstanding asset
Debts which are payable in the course of a month are called _____________?
A. External liabilities
B. Fixed liabilities
C. Current liabilities
D. Liquid Liabilities
The unsold goods are ______________?
A. Equity
B. Sale return
C. Inventory
D. Purchases
The systems of accounting are _____________?
A. Two
B. Three
C. Five
D. Six
(more…)
A sale of Rs. 50.000 to A was entered as a sale to B. This is an example of____________?
A. Error of omission
C. Compensating error
D. Error of principle
Goods sent on approval basis’ have been recorded as ‘Credit sales’. This is an example
of____________?
A. Error of principle
C. Error of omission
D. Error of duplication
Institute of Chartered Accountants of Pakistan was established in____________?
A. 1949
B. 1956
C. 1961
D. 1972
Trial balance is prepared to check accuracy of_______________?

A. Ledger accounts balances
B. Balance sheet balances
C. Income statement balances
D. Cash flow statement balances
If a transaction is completely omitted from the books of accounts, will it affect the
agreement of a trial balance?
A. Yes
B. No
C. Transactions can’t be omitted
D. none of these
________ is the common base for preparing a trial balance?
A. Ledger accounts
B. General Journal
C. Specialized journals
D. Balance sheet
Which of the following is true about a trial balance?
A. It lists down the balances of accounts

B. It lists down the balances of a balance sheet
C. It is a kind of financial statement
D. It is not a part of accounting cycle
Debit balance = Credit balance in a trial balance indicates that:
A. No error in recording transactions

B. No error in posting entries to ledger accounts
C. Account balances are correct
D. Mathematically Capital+Liabilities=Assets
Trial balance is commonly prepared?
A. Frequently during the year

B. At the end of an accounting period
C. At the end of a month
D. At the end of a year
Which of the following will affect the agreement of a trial balance?
A. Complete omission of a transaction

B. Partial omission of a transaction
C. Error of principle
D. Compensating errors
If debit balances = credit balances, trial balance only shows or check the ____________ and
it does not indicate that no errors were made during recording and posting.
A. Arithmetic accuracy
B. Errors of commission
C. Omissions of economic events
D. Understatements of balances
Which of the following account with normal balance is shown at the debit side of a trial
balance?
A. Rent income account

B. Creditors account
C. Unearned income account
D. Cash account
Which of the following account with normal balance is shown at the credit side of a trial
balance?
A. Cash account
B. Bank account
C. Equipment account
D. Accrued expenses account
Which of the following specialized journals records “goods returned by customers”?
A. Purchase journal
B. Sales journal
C. Purchases return journal
D. Sales return journal
Sales on credit is recorded in which of the following journal?
A. Purchase journal
B. Sales journal
Transactions that a BUSINESS doesn’t record in any specialised journal are recorded in
which of the following journals or day books?
A. Cash payments journal

B. Cash receipts journal
D. General journal
Another name of journal is_____________?
A. Specialized journal
B. Day book
C. Cash book
D. Record book
Which of the following specialised journals will record “goods returned by the BUSINESS
“?
A. Purchase journal
B. Sales journal
Sales and purchase journal don’t record__________?
A. Credit sales
B. Credit purchases
C. Credit sales and purchases
D. Cash sales and purchases
Cash received from debtor is recorded in which of the following SPECIALIZED journals?
A. Purchase journal
B. Sales journal
C. Cash receipts
D. Cash payments journal
Which of the following is a type of cash receipt journal + cash payment journal?
A. Bank statement
B. Statement of cash flow
C. Cash book
D. Cash documents
Cash purchases is recorded in which of the following specialized journals?
A. Purchase journal
B. Sales journal
D. Cash payments journal
A brief explanation recorded below every entry in general journal is commonly known
as__________?
A. Narration
B. Explanation
C. Summary
D. Other information
Credit purchase of plant and machinery is recorded in which of the following journals?
A. General journal
B. Cash journal
C. Purchase journal
D. Purchase return journal
Debit note is the basis for recording a transaction in which of the following journals?
A. General journal
B. Cash journal
C. Purchase journal
D. Purchase return journal
SALE of old furniture” will be recorded in which of the following specialised journals?
A. Purchase journal
B. Sales journal
C. General journal
D. Cash receipt journal
Credit note is the basis for recording a transaction in which of the following
SPECIALIZED journals?
A. Purchase journal
B. Sales return journal
C. General journal
D. Cash receipt journal
Specialized journals are more adequate for which TYPE OF BUSINESSES?
A. Small businesses
B. Big businesses
C. Sole proprietorship
D. Partnership
Which of the following is known as an evidence that a transaction took place?
A. Cash receipts journal

B. General journal
C. Source document
D. Cash book
BUSINESS paid rent amounting to $100″ which of the following specialized journals
records this transaction?
A. Cash receipts journal

B. Cash payments journal
C. Sales journal
D. Purchase journal
Credit memo or credit note No. is entered in which of the following journal?
A. General journal
B. Cash journal
C. Purchase journal
D. Sales return day book
In accounting an Economic event is referred to as:
A. Cash
B. Bank statement
C. Transaction
D. Exchange of money
Identify the correct sequence of accounting process
A. Communicating→Recording→Identifying
B. Recording→Communicating→Identifying
C. Identifying→communicating→recording
D. Identifying→recording→communicating
Bookkeeping mainly concerns with which part of accounting process?
A. Analyzing
B. Preparing financial statements
C. Recording financial information
D. Auditing the books of accounts
Financial accounting provides financial information to all of the following external users
except:
A. Government agencies
B. investors
C. Creditors
D. Managers
For which step of accounting process the accountants of business entity prepare financial
statements?
A. Identification of economic event

B. Communication of financial information
C. Recording financial information
D. Making decisions about business
Keeping the log of financial information in books of original entries is called__________?
A. Recording
B. summarizing
C. Grouping
D. Processing
Auditing is what?
A. Reporting the financial information

B. Examination of financial statements
C. Preparation financial statements
D. maintaining the ledger records
Which of the following is the external user of financial statements?
A. Manager of the business

B. CEO of the business
C. Creditor of the business
D. Controller of the business
Which of the following is the internal user of financial statements?
A. Creditor of the business

B. Government agency
C. Shareholder of the business
D. Manager of the business
_________ is the first phase of accounting cycle?
A. Identifying an economic event or transaction

B. Preparing journals
C. Posting entries to ledger accounts
D. Making decisions about business
Financial statements differ from management account because
A. They are mainly prepared for external users of financial information

B. They are more complex and hard to prepare
C. The are the summary of accounting data
D. The are prepared on basis of actual concept
________ is a separate legal entity that Total capital can be divided in many shares.
A. Partnership
B. Sole proprietorship
C. Company
D. Non-profit organization
An asset posses which of the following?
A. Future economic benefits for the business

B. All kind of benefits for the business
C. Expenses for the business
D. Merits and Demerits for the business
Liabilities are which of the following?

A. Resources
B. Obligations
C. Future benefits
D. Expenses
________ is the gross inflow of economic benefits?
A. Assets
B. Liabilities
C. Income
D. Expenses
The gross decrease in economic benefits for the business are what?
A. Expenses
B. Obligations
C. Creditors
D. Income or gain
An asset must be _______ by the business to be shown as an asset in its “balance sheet”
A. Possessed
B. Owned
C. Controlled
D. Used
Liability are arisen from which of the following events?
A. Present event
B. Future event
C. Past event
D. None of them
Which of the following can be considered as the most important phase of accounting cycle
and it is the primarily objective of financial accounting?
A. Identifying transactions
B. Preparing “T Accounts”
C. Preparing financial statements
D. Preparing trial balances
Which is the most important characteristic that all assets of a business have?
A. Long life of assets

B. Value of assets
C. Intangible nature of assets
D. Future economic benefits
What is the basic accounting equation?

A. Capital+Liabilities=Assets
B. Assets+ liabilities =Capital
C. Capital+assets=liabilities
D. Liabilities+Capital
Which of the following is a liability?
A. Cash
B. Equipment
C. Debtors
D. Creditors
What is equity?
A. Cash from the business

B. liability of a business
C. Owner’s claim on total assets
D. Owner’s claim on total liabilities
Identify the asset from the following:
A. Cash and cash equivalent

B. Creditors
C. Notes payable
D. Bank loan
_______ the withdrawal of cash and goods by the owner of the busienss for his/her personal
use?
A. Depreciation
B. Drawings
C. Outflow of cash
D. Appreciation
Net loss occurs when______________?
A. Expenses are greater than Income

B. Expenses are less than Income
C. Expenses=Income
D. Liabilities are greater than income
Double entry implies that
A. Recording entries in journal

B. Recording entries in Ledger account
C. Recording two aspects of every transaction
D. Recording every transaction in books
Identify the nominal account
A. Machinery account
B. Building account
C. Creditors account
D. Rent expenses account
Which of the following accounts can be classified as a real account?
A. Rent expenses account

B. Rent income account
C. insurance expenses account
D. Cash account
Transferring entries from journal to ledger account is commonly known as____________?
A. Recording
B. Transferring
C. Posting
D. Entry making
An account records the ___________ in the balance of an item?
A. Increase
B. Decrease
C. Increase or decrease
D. Appreciation
If credit side of a bank account is greater than the debit side, it indicates which of the
following?
A. Bank overdraft
B. Cash at bank
C. Bank balance
D. Current Asset
If debit side of a bank account is greater than credit side it indicates which of the
following?
A. Cash at bank
B. Bank understatement
C. Bank overdraft
D. Balance overstatement
_________ will be credited if goods are given as charity?
A. Cash
B. Charity
C. Purchases
D. Sales
Which of the following is known as the base for preparing trial balance?
A. Journal
B. Cash account
C. Ledger account
D. Balance sheet
If debit balance is greater than creadit balance then the account blance will be__________?
A. Credit balance
B. Debit and credit balance
C. Cash balance
D. Debit balance
The normal balance of capital account is_____________?
A. Credit balance
B. Debit balance
C. Cash balance
D. Neither debit nor credit balance
The normal balance of asset account is____________?
A. Credit balance
B. Debit balance
C. Cash balance
The normal balance of liability account is____________?
A. Debit balance
B. Credit balance
C. Cash balance
Which of the following statements is incorrect regarding capital account?
A. Debit increases the capital account balance

B. Credit increases the capital account balance
C. Fresh capital increases the capital account balance
D. Net income increases the capital account balance
Which of the following is the normal balance of a rent expense account?

A. Credit balance
B. Cash balance
C. Overdraft
D. Debit balance
Revenue and expense accounts are referred as______________?
A. Nominal accounts
B. Real account
C. Cash accounts
D. Banks account
The real accounts are accounts of Assets, liabilities and ___________?
A. Expenses
B. Revenues
C. Capital
D. Drawing
Building account is classified as _________ account?
A. Nominal
B. Real
C. Cash
D. Capital
Office equipments account is classified as _________ account?
A. Nominal
B. Real
C. Cash
D. Capital
___________ helps business to classify transactions according to their nature?
A. General journal
B. Real accounts
C. Ledger accounts
D. Cash accounts
Which of the following is a real account?
A. Office equipment
B. Rent expenses
C. Rent income
D. Insurance expense
Which of the following accounts are closed at the end of an accounting period?
A. Nominal accounts
B. Balance sheet accounts
C. Real accounts
D. None of them
Which of the following is the closing balance of a ledger account?
A. Balance c/d
B. Balance b/d
C. Balance e/d
D. Balance f/c
The Basic accounting equation is___________?
A. Asset=Expense +Income
B. Assets=Cash+Capital
C. Assets=Capital+Liabilities
D. Assets=Expenses+Capital
Find out the value of assets if: Liabilities=$5000 and Capital=$1000
A. $4000
B. $6000
C. $7000
D. $3000
Calculate the amount of cash if: Total assets=$10,000 Total liabilities=$10,000 Total
Capital=$5000
A. $6000
B. $10,000
C. $5000
D. $1000
Capital increases if _________ increases?
A. Expenses
B. Drawings
C. Interest on capital
D. Revenue
Capital of a business decreases if there is an increase in___________?
A. Drawings
B. Income
C. Gains
D. Fresh capital
If the total liabilities of a business decrease by $5000 what will be the effect on total asset?
(assuming the amount of capital remain same)

A. Remain constant
B. Decrease by $5000
C. Increase by $5000
D. Increase by $10,000
If the business’s owner withdraws cash for his/her personal use what will be the effect on
capital?
A. Increase in capital
B. Remain the same
C. Decrease in capital
D. No effect on capital
Net income equal to Revenues minus____________?
A. Gains
B. Depreciation
C. Expenses
D. Capital expenditures
Collection of account receivable will
A. Increase assets and decrease assets

B. Increase assets and decrease liabilities
C. Increase assets and increase capital
D. Increase assets and increase cash
Payment of expenses will ______ the assets
A. Increase
B. Reduce
C. apportion
D. Overstate
Which of the following is the practical implementation of the accounting equation?
A. Cash flow statement

B. Income statement
C. Statement of changes in equity
D. Statement of financial position
Which of the following accounting equation is correct?
A. Cash+Other assets=Capital-Liabilities
B. Capital+ Liabilities=Assets+Income
C. Assets-Liabilities=Capital
D. Assets+Capital=Liabilities
Fresh capital introduction will increase____________?
A. Assets and liabilities

B. Assets and equity
C. Liabilities and equity and bank balance
D. Capital and liabilities
Cash received for services rendered will______________?
A. Increase cash and liability

B. Increase equity and liability
C. Increase fixed assets and cash
D. Increase cash and equity
Which of following best describes the increase in equity expands___________?
A. Business operations
B. cash outflows
C. Inflows of cash
D. Appropriation expenses
If Cash=$1000 inventories=$4000 Debtors=$5000 fixed assets=? Capital+Liabilities=$15000

What is the Amount of total assets?
A. $5000
B. $10,000
C. $15,000
D. $20,000
Depreciation decreases____________?
A. Liabilities
B. Cash
C. Bank
D. Capital
An increase in provision for bad debt will____________?
A. Decrease net income

B. Decrease liabilities
C. Increase net income
D. Increase liabilities
Current assets – Current liabilities=?
A. Capital
B. Absorbed capital
C. Net assets
D. Net working capital
Assets-Liabilities=____________?
A. Cash
B. Equity
C. Net income
D. Net expenses
The process of recording is done?
A. Two times a year

B. once a year
C. Frequently during the accounting period
D. At the end of a accounting period
General journal is a book of _______ entries?
A. First
B. Original
C. Secondary
D. Generic
The process of recording transactions in different journals is called_________?
A. Posting
B. Entry making
C. Adjusting
D. Journalizing
Every business transaction affects at least ________ accounts?
A. One
B. Two
C. Three
D. Infinite
Discount allowed is a kind of deduction from_____________?
A. Account payable
B. Account receivable
C. Cash account
D. Discount account
The other name of journal is____________?
A. Ledger
B. T account
C. Day book
D. Cash book
A journal entry in which two or more account is debited or credited is referred

as____________?
A. Journal entry
B. Multi entry
C. Additional entry
D. Compound entry
he term 2/10-n/30 implies that ______ % discount will be given if the payment is made
within days or full amount is receivable within 30 days?
A. 2,10
B. 10,2
C. 10,30
D. 3,15
Goods returned by customer should be debited to which of the following accounts?
A. Sales income account

B. Sales account
C. Return inward account
D. Expenses account
Discount allowed is___________?
A. Expense of business
B. Income of business
C. Loss of business
D. Abnormal loss of business
_________ is the evidence that a transaction took place?
A. Source documents
B. Ledger
C. Bonds
D. Journals
Which of the following will be debited if a business purchases goods on credit?
A. Cash
B. Debtor
C. Creditor
D. Purchases
Which of the following accounts will be debited if the business’s owner withdraws cash
from business for his personal use?
A. Drawings
B. Cash
C. Business
D. Stock
Journals are also referred as_____________?
A. Book of entries
B. Book of original entries
C. T account
D. Books of economic event
The standard format of journal does not include which of the following?
A. Assets column
B. Date column
C. Description column
D. Amount column
In which of the following orders data is entered in journal?
A. Alphabetical order
B. Numeric order
C. Bullets order
D. Chronological order
Which of the following accounts will be credited if a company purchases building for cash?
A. Capital account
B. Fixed assets account
C. Building account
D. Cash account
Discount for quick repayment of debt is normally referred as____________?
A. Trade discount
B. Prompt payment discount
C. Cash discount
D. Bulk discount
The first step in accounting process is___________?
A. Recording the transaction

B. Identifying the transaction
C. Posting the transaction
D. Preparing the source documents
A chart of accounts generally start with which of the following types of accounts?
A. Assets accounts
B. liability accounts
C. Cash accounts
D. Revenue accounts
Total depreciation of an asset cannot exceed its:
A. Scrap value
B. Residual value
C. Market value
D. Depreciable value
Finance MCQ’s
___________ is concerned with the acquisition, financing, and management of assets with
some overall goal in mind.
A. Financial management
B. Profit maximization
C. Agency theory
D. Social responsibility
Having some overall goal in mind, financial management is concerned with:
A. Acquisition of assets
B. Financing of assets
C. Management of assets
D. All of them
The investment decision is the most important of the firm’s three major decisions, when it
comes to:
A. Value creation
B. Value addition
C. Value proposition
D. Value deletion
Annual cash dividends divided by annual earnings; or alternatively, dividends per share
divided by earning per share is termed as:
A. Earning per share ratio

B. Proposed dividend ratio
C. Dividend payout ratio
D. Expected dividend ratio
Profit maximization is the maximizing a firm’s Earning:
A. Before Tax
B. After Tax
C. Both A and B
D. None of Them
An individual authorized by another person, called the principle, to act on the latter’s on
behalf is known as an/a:
A. Agent
B. Servant
C. Subordinate
D. Assistant
Stakeholders include:
A. Stakeholders
B. Creditors and customs
C. Employees and suppliers
D. All of Them
All the constituencies with a stake in the fortunes of the company are termed as:
A. Stakeholders
B. Directors
C. Chief executives
D. Subordinates
The system by which companies are managed and controlled is known as:
A. Management System
B. Strategic System
C. Corporate Governance
D. Internal System
Corporate governance encompasses the relationship among a company’s:
A. Shareholders and board of director

B. Board of directors and senior management
C. Shareholders and senior management
D. Shareholders, board of directors and senior management
The Board of Directors sets company-wide policy and advices the CEO and other senior
executies, who manage the company’s:
A. Managerial activities
B. Year-to-Year activities
C. Day-to-Day activities
D. Financial activities
A major facet of financial management involves providing the financing necessary to

support:
A. Liabilities
B. Debts
C. Loans
D. Assets
The market price of a firm’s stock represents the focal judgment of all market participants
as to the value of the:
A. Particular market
B. Particular firm
C. Particular creditor
D. Particular debtor
Agency theory suggests that managers(the agents), particularly those of large , publically-
owned firms, may have different objectives from those of the:
A. Workers
B. Subordinates
C. Shareholders
D. Employees
Maximizing Shareholder wealth:
A. Relieves the firms responsibility towards society

B. Does not relieve the firm’s responsibility towards society
C. Partially relives the firm’s responsibility towards society
D. None of Them
Earning per share is computed as:
A. ____________Earning After Tax_____________

No of common shares outstanding
B. ____No of common shares outstanding___

Earning after Tax
C. ____Earning before Tax____

Common shares
D. None of Them
Period costs include which of the following?
A. Selling expense
B. Raw material
C. Direct labor
D. Manufacturing overhead
Product costs include which of the following?
A. Selling expenses
B. General expenses
C. Manufacturing overhead
D. Administrative expenses
Financial policy is evaluated by which of the following?

A. Profit Margin
B. Total Assets Turnover
C. Debt-equity ratio
D. None of the given options
Cash flow from assets involves which of the following component(s)?
A. Operating cash flow

B. Capital spending
C. Change in net working capital
D. All of the given options
Which of the following refers to the cash flows that result from the firm‟s day-to-day
activities of producing and selling?
A. Operating Cash Flows

B. Investing Cash Flows
C. Financing Cash Flows
Finance is vital for which of the following business activity (activities)?
A. Marketing Research
B. Product Pricing
C. Design of marketing and distribution channels
Which of the following costs are reported on the income statement as the cost of goods
sold?
A. Product cost
B. Period cost
C. Both product cost and period cost
D. Neither product cost nor period cost
Standard Company had net sales of Rs. 750,000 over the past year. During that time,
average receivables were Rs. 150,000. Assuming a 365-day year, what was the average
collection period?
A. 5 days
B. 36 days
C. 48 days
D. 73 days
Which of the following terms refers to the use of debt financing?

A. Operating Leverage
B. Financial Leverage
C. Manufacturing Leverage
In which type of market, new securities are traded?
A. Primary market
B. Secondary market
C. Tertiary market
Which of the following ratios are particularly interesting to short-term creditors?
A. Liquidity Ratios
B. Long-term Solvency Ratios
C. Profitability Ratios
D. Market Value Ratios
Quick Ratio is also known as_______________?
A. Current Ratio
B. Acid-test Ratio
C. Cash Ratio
D. Solvency Ratio
A portion of profits, which a company retains itself for further expansion, is known as:
A. Dividends
B. Retained Earnings
C. Capital Gain
Which of the following is measured by profit margin?
A. Operating efficiency
B. Asset use efficiency
C. Financial policy
D. Dividend policy
Which of the following set of ratios is used to assess a business’s ability to generate
earnings as compared to its expenses and other relevant costs incurred during a specific
period of time?
A. Liquidity Ratios
B. Leverage Ratios
A company having a current ratio of 1 will have __________ net working capital.
A. Positive
B. Negative
C. zero
Which of the following equation is known as Cash Flow (CF) identity?
A. CF from Assets = CF to Creditors – CF to Stockholder

B. CF from Assets = CF to Stockholders – CF to Creditors
C. CF to Stockholders = CF to Creditors + CF from Assets
D. CF from Assets = CF to Creditors + CF to Stockholder
The difference between current assets and current liabilities is known as____________?
A. Surplus Asset
B. Short-term Ratio
C. Working Capital
D. Current Ratio
The principal amount of a bond at issue is called____________?
A. Par value
B. Coupon value
C. Present value of an annuity
D. Present value of a lump sum
Which of the following is the process of planning and managing a firm‟s long-term
investments?
A. Capital Structuring
B. Capital Rationing
C. Capital Budgeting
D. Working Capital Management
A standardized financial statement presenting all items of the statement as a percentage of

total is:
A. a common-size statement
B. an income statemen
C. a cash flow statement
D. a balance sheet
The DuPont Identity tells us that Return on Equity is affected by:
A. The DuPont Identity tells us that Return on Equity is affected by:

B. asset use efficiency (as measured by total assets turnover)
C. financial Leverage (as measured by equity multiplier)
D. all of the given options (a, b and c)
A series of constant cash flows that occur at the end of each period for some fixed number
of periods is ____________ .
A. an ordinary annuity
B. annuity due
C. multiple cash flows
D. perpetuity
Which of the following is the overall return the firm must earn on its existing assets to
maintain the value of the stock?
A. IRR (Internal Rate of Return)

B. MIRR (Modified Internal Rate of Return)
C. WACC (Weighted Average Cost of Capital)
D. AAR (Average Accounting Return)
Which of the following is known as the group of assets such as stocks and bonds held by an
investor ?
A. Stock Bundle
B. Portfolio
C. Capital Structure
D.. None of the given options
Which of the following relationships holds TRUE if a bond sells at a discount?
A. Bond Price < Par Value and YTM > coupon rate
B. Bond Price > Par Value and YTM > coupon rate
C. Bond Price > Par Value and YTM < coupon rate D. Bond Price < Par Value and YTM <
coupon rate
Which of the following strategy belongs to restrictive policy regarding size of investments
in current assets?
A. To maintain a high ratio of current assets to sales

B. To maintain a low ratio of current assets to sales
C. To less short-term debt and more long-term debt
D. To more short-term debt and less long-term debt
Which of the following statement is CORRECT regarding compound interest?
A. It is the most basic form of calculating interest.

B. It earns profit not only on principal but also on interest.
C. It is calculated by multiplying principal by rate multiplied by time.
D. It does not take into account the accumulated interest for calculation.
When real rate is high, all the interest rates tend to be ___________?
A) Higher
B) Lower
C) Constant
D) None of the given options
Profitability index (PI) rule is to take an investment, if the index exceeds___________?
A. -1
B. 0
C. 1
D. 2
Average Accounting Return is a measure of accounting profit relative to:
A. Book value
B. Intrinsic value
C. Cost
D. Market value
Which of the following is the cheapest source of financing available to a firm?
A. Bank loan
B. Commercial papers
C. Trade credit
D. None of the given options.
_______________refers to the extent to which fixed-income securities (debt and preferred

stock) are used in a firm’s capital structure?
A. Financial risk
B. Portfolio risk
C. Operating risk
D. Market risk
The use of Personal borrowing to alter the degree of financial leverage is

called__________?
A. Homemade leverage
B. Financial leverage
C. Operating leverage
D. None of the given option
_________ refers to the most valuable alternative that is given up if a particular investment
is undertaken?
A. Sunk cost
B. Opportunity cost
C. Financing cost
A model which makes an assumption about the future growth of dividends is known as:
A. Dividend Price Model

B. Dividend Growth Model
C. Dividend Policy Model
Which of the following is not a quality of IRR ?
A. Most widely used

B. Ideal to rank the mutually exclusive investments
C. Easily communicated and understood
D. Can be estimated even without knowing the discount rate
Which of the following is a series of constant cash flows that occur at the end of each period
for some fixed number of periods?
A. Ordinary annuity
B. Annuity due
C. Perpetuity
During the accounting period, sales revenue is Rs. 25,000 and accounts receivable increases
by Rs. 8,000. What will be the amount of cash received from customers for the period?
A. Rs. 33,000
B. Rs. 25,000
C. Rs. 17,000
D. Rs. 8,000
Read More about This Mcq
The conflict of interest between stockholders and management is known as:
A. Agency problem
B. Interest conflict
C. Management conflict
D. Agency cost
Which of the following form of business organization is least regulated?
A. Sole-proprietorship
B. General Partnership
C. Limited Partnership
D. Corporation
Which of the following ratios are intended to address the firm’s financial leverage?
A. Liquidity Ratios
C. Asset Management Ratios
D. Profitability Ratios
Balance Sheet is based upon which of the following formula?
A. Assets = Liabilities – Stockholder’s equity

B. Assets + Liabilities = Stockholder’s equity
C. Assets + Stockholder’s equity = Liabilities
D. Assets = Liabilities + Stockholder’s equity
Quick Ratio is also known as_________?
A. Current Ratio
B. Acid-test Ratio
C. Cash Ratio
Which of the following is a special case of annuity, where the stream of cash flows
continues forever?
A. Ordinary Annuity
B. Special Annuity
C. Annuity Due
D. Perpetuity
You just won a prize, you can either receive Rs. 1000 today or Rs. 1,050 in one year. Which
option do you prefer and why if you can earn 5 percent on your money?
A. Rs. 1,000 because it has the higher future value

B. Rs. 1,000 because you receive it sooner
C. Rs. 1,050 because it is more money
D. Either because both options are of equal value
Which of the following ratios are particularly interesting to shortterm creditors?
A. Liquidity Ratios
In which form of Business, owners have limited liability?
A. sole proprietorship
B. partnership
C. joint stock company
D. none of the above
Read More about this Mcq
Which of the following item provides the important function of shielding part of income
from taxes?
A. Inventory
B. Supplies
C. Machinery
D. Depreciation
The process of determining the present value of a payment or a stream of payments that is
to be received in the future is known as:
A. Discounting
B. Compounding
C. Factorization
You need Rs. 10,000 to buy a new television. If you have Rs. 6,000 to invest at 5 percent
compounded annually, how long will you have to wait to buy the television?
A. 8.42 years
B. 10.51 years
C. 15.75 years
D. 18.78 years
In which of the following type of annuity, cash flows occur at the beginning of each period?
A. Ordinary annuity
B. Annuity due
C. Perpetuity
Between the two identical bonds having different maturity periods, the price of the ______
bond will change less than that of ______ bond.
A. long-term; short-term
B. short-term; long-term
C. lower-coupon; higher-coupon
Which of the given area is NOT addressed by Business Finance?
A. Financing
B. Investing
C. Managing day today expenses
A company having a current ratio of 1 will have ________ net working capital.
A. Positive
B. Negative
C. zero
Business Finance addresses which of the following?
A. Capital budgeting
B. Capital structure
C. Working capital management
In which type of business, all owners share in gains and losses and all have unlimited
liability for all business debts?
B. General Partnership
C. Limited Partnerhsip
D. Corporation
Which of the following is measured by retention ratio?
A. Operating efficiency
B. Asset use efficiency
C. Financial policy
D. Dividend policy
How many years will it take to pay off a Rs. 11,000 loan with a Rs. 1,241.08 annual
payment and a 5% interest rate?
A. 6 years
B. 12 years
C. 24 years
D. 48 years
Which one of the following terms refers to the risk arises for bond owners from fluctuating
interest rates?
A. Fluctuations Risk
B. Interest Rate Risk
C. Real-Time Risk
D. Inflation Risk
Which of the following set of ratios relates the market price of the firm’s common stock to
selected financial statement items?
A. Liquidity Ratios
B. Leverage Ratios
If a firm uses cash to purchase inventory, its quick ratio will?
A. Increase
B. Decrease
C. Remain unaffected
D. Become zero
Standard Corporation sold fully depreciated equipment for Rs.5,000. This transaction will
be reported on the cash flow statement as a(n):
A. Operating activity
B. Investing activity
C. Financing activity
Which of the following ratios are particularly interesting to short term creditors?
A. Liquidity Ratios
Mr. Y and Mr. Z are planning to share their capital to run a business. They are going to
employ which of the following type of business?
B. Partnership
C. Corporation
When the market’s required rate of return for a particular bond is much less than its
coupon rate, the bond is selling at:
A. Premium
B. Discount
C. Par
D. Cannot be determined without more information
Which of the following statement is considered as the accountant’s snapshot of firm’s

accounting value as of a particular date?
A. Income Statement
B. Balance Sheet
C. Cash Flow Statement
D. Retained Earning Statement
The most important item that can be extracted from financial statements is the actual
________ of the firm.
A. Net Working Capital

B. Cash Flow
C. Net Present Value
A firm has paid out Rs. 150,000 as dividends from its net income of Rs. 250,000. What is
the retention ratio for the firm?
A. 12%
B. 25%
C. 40%
D. 60%
Which of the following ratios is NOT from the set of Asset Management Ratios?
A. Inventory Turnover Ratio

B. Receivable Turnover
C. Capital Intensity Ratio
D. Return on Assets
Which of the following statement about bond ratings is TRUE?
A. Bond ratings are typically paid for by a company’s bondholders.

B. Bond ratings are based solely on information acquired from sources other than the bond
issuer.
C. Bond ratings represent an independent assessment of the credit-worthiness of bonds.
If you plan to save Rs. 5,000 with a bank at an interest rate of 8%, what will be the worth
of your amount after 4 years if interest is compounded annually?
A. Rs. 5,400
B. Rs. 5,900
C. Rs. 6,600
D. Rs. 6,802
Which of the following statement is TRUE regarding debt?
A. Debt is an ownership interest in the firm.

B. Unpaid debt can result in bankruptcy or financial failure.
C. Debt provides the voting rights to the bondholders.
D. Corporation’s payment of interest on debt is fully taxable.
A firm reports total liabilities of Rs. 300,000 and owner’s equity of Rs. 500,000. What
would be the total worth of the firm’s assets?
A. Rs. 300,000
B. Rs. 500,000
C. Rs. 800,000
D. Rs. 1100,000
Which of the following measure reveals how much profit a company generates with the
money shareholders have invested?
A. Profit Margin
B. Return on Assets
C. Return on Equity
D. Debt-Equity Ratio
If you have Rs. 850 and you plan to save it for 4 years with an interest rate of 10%, what
will be the future value of your savings?
A. Rs. 1,000
B. Rs. 1,244
C. Rs. 1,331
D. Rs. 1,464
In case of international business which of the given factor(s) must be considered?
A. Role of foreign exchange

B. Balance of payments
C. Attitude of Governments
Which of the following refers to the difference between the sale price and cost of inventory?
A. Net loss
B. Net worth
C. Markup
D. Markdown
Who of the following make a broader use of accounting information?
A. Accountants
B. Financial Analysts
C. Auditors
D. Marketers
The Yield to Maturity of a bond is the same as_____________?
A. The present value of the bond

B. The bonds internal rate of return
C. The future value of the bond
D. None of these
Choose from the following a symptom which is not relating to “Over Trading”?
A. Cash shortage
B. Low inventory turnover ratio
C. Low current ratio
D. High inventory turnover ratiO
The formula to calculate the present value of a single cash flow is given by:
A. CF1 / (1+r)n
B. C2 / (1+r)
C. C0 + C (1+r)n
D. None of these
The effect of purchasing power or inflation on present value is important because

_________?
A. It increases the real value of cash flows received in the future

B. It reduces the real value of cash flows received in the future
C. It has no effect on real value of cash flow received in the future
D. None of these
An Asset is __________?
A. Sources of funds
B. Use of funds
C. Inflow of funds
D. None of these

Current Affairs March 2018

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Current Affairs March 2018

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Current Affairs March 2018

Which player had most ducks in PSL-3?

Submitted by: Kashif Ashraf

Which player has hit most fifties in PSL-3?

Submitted by: Kashif Ashraf

Which player has hit most Fours in PSL-3?

Submitted by: Kashif Ashraf

Which player has hit most sixes in PSL-3?

Submitted by: Kashif Ashraf

Who was the only player to hit century in PSL-3?

Submitted by: Kashif Ashraf

PSL-3 has been promoted on social media by which Hashtag?

Submitted by: Kashif Ashraf

Submitted by: Kashif Ashraf

Submitted by: Kashif Ashraf

Who was the leading wicket taker in PSL-3?

How many matches were played in PSL-3?

Who was awarded as the “Safe hands in field” award of PSL-3?

Who was awarded as the “Player of the Tournament” of PSL-3?

Who was awarded as the “Best Batsman” of PSL-3?

Who was awarded as the “Best Umpire” of PSL-3?

Who was awarded as the “best bowler” of PSL-3?

Who was awarded as the best Wicket-Keeper in PSL-3?

Which player was the Man of the Match in PSL-3 final?

Who has acquitted 20 suspects allegedly involved in lynching incident of 2014,wherein a

Submitted by: Kashif Ashraf

A. Jam Khan Shoro

Submitted by: Kashif Ashraf

Submitted by: Kashif Ashraf

Psl third edition Final Match was played in which Stadium?

Submitted by: Areesha Khan

Which team has won PSL title twice?

Submitted by: Kashif Ashraf

Which team has won third edition of PSL?

Submitted by: Kashif Ashraf

After how many Years International Cricket Players played in Karachi?

Submitted by: Areesha Khan

Submitted by: Kashif Ashraf

Submitted by: Kashif Ashraf

Submitted by: Kashif Ashraf

Submitted by: Kashif Ashraf

Which TV channel in Pakistan has hired a transgender newscaster to become first in

Submitted by: Kashif Ashraf

Submitted by: Kashif Ashraf

Who was the second Governor-General of Pakistan?

A. Liaquat Ali Khan

Submitted by: Hamza

Submitted by: Ch.Naeem Kamboh

Submitted by: Areesha Khan

Submitted by: Kashif Ashraf

Submitted by: Kashif Ashraf

Submitted by: Kashif Ashraf

Submitted by: Kashif Ashraf

Submitted by: Kashif Ashraf

Which city of Pakistan has hosted Pakistan’s first-ever Biennale?

Submitted by: Kashif Ashraf

Submitted by: Kashif Ashraf

Submitted by: Kashif Ashraf

A. Aerospace company of China

Submitted by: Kashif Ashraf

Pakistan has acquired another communication satellite on March 22,2018 named as

Submitted by: Kashif Ashraf

Submitted by: Kashif Ashraf