581. The requirements of an audit report for a Banking Company in Pakistan is under:
A. Under the Banking Companies Ordinance, 1962.
B. Under the Companies Ordinance, 1984.
C. Under (a) and (b) above.

582. Deferred Taxation is:
A. Fixed asset
B. Fixed liabilities
C. Part of Owners Equity.

583. Investment Corporation of Pakistan follows:
A. Open-end mutual funds
B. Closed-end mutual funds
C. None of these.

584. Directors Report is ——- in respect of financial report constituent.
A. Mandatory for a limited Company
B. Voluntary for a limited Company
C. None of these.

585. Every limited Company in Pakistan is required by law to include the following along with financial reports:
A. Ratio Analysis
B. Chairman’s Review
C. None of these.

586. Scruting of financial transactions is called
A. Budgeting
B. Auditing
C. Programming
D. Accounting

587. NGOs are legally required to:
A. Prepare accounts in a prescribed manner under the law.
B. Prepare accounts as desired by donors.
C. None of these.

588. Fixed Cost:
A. Changes with production
B. Never changes even if production capacity is doubled
C. None of the above

589. Conversion cost is:
A. Material Cost + Overhead Cost
B. Direct Labour + Material Cost
C. Labour Cost + Overhead Cost

590. Process Costing is relevant to:
A. Cement industry
B. Job Order cost oriented Projects
C. None of the above

NOTE
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