601. Income Tax rates are the same for:
A. Limited Companies
B. Banking Companies
C. None of above

602. Super Tax on companies is:
A. In vogue in Pakistan
B. Not in vogue in Pakistan
C. None of above

603. Current Ratio is calculated as:
A. Fixed Assets/Current Liabilities
B. Current Liabilities/Current Assets
C. Current Assets/Current Liabilities

604. Short-term loan can be described as:
A. If the period is three years
B. If the period is less than one year
C. If the period is over one year

605. A partnership, in today’s Pakistan, under the current law can have the following number of partners:
A. 50
B. 20
C. 100

606. Combination can be best described as:
A. Restructuring of Capital of a Company
B. Reduction of Capital of a Company
C. Amalgamation of two different types of businesses

607. Sources of funds can be increased by:
A. Describing selling prices
B. Increasing expenditure
C. None of above

608. Books of original entry are called:
A. Ledger
B. Work sheets
C. Journal
D. None of these

609. For preparing balance sheets prepaid expenses are shown as part of:
A. Liability
B. Equities
C. Assets
D. None of these

610. Unpaid and unrecorded expenses are called:
A. Prepaid expenses
B. Accrued expenses
C. Additional expenses
D. None of these