661. Worksheet is:
A. Balance Sheet
B. Fund Flows Statement
C. A combination of Profit and Loss Account and Balance Sheet items
D. None of these

662. Banks, for the preparation of financial statements, are governed under:
A. Banking Companies Ordinance, 1962
B. State Bank of Pakistan Act
C. None of these

663. Return on investment is computed:
A. Investment/Profit x 100
B. Profit x 100/Investment
C. None of these

664. Rent of the premises constitutes variable expenses for cost allocation:
A. True
B. False

665. Sugar used in a sugarcane company is:
A. Variable cost
B. Fixed cost
C. None of these

666. An auditor is liable under the following circumstances:
A. Third Party Liabilities
B. Fraud perpetrated in highly sophisticated circumstances
C. None of these

667. Agricultural income is taxable under the Income Tax Laws of Pakistan:
A. True
B. False

668. Principal and markup payment within one year constitutes long term liability for disclosure in the balance sheet of a company.
A. True
B. False

669. Ordinarily one can have the following partners in a partnership in Pakistan under the Partnership Act 1932.
A. 10
B. 20
C. 30
D. None of these

670. Working Capital finance can be termed as “Running Finance” in a limited company.
A. True
B. False