691. Debt Equity Ratio refers to the ratio of:
A. Debtors to equity share capital
B. Long term debt to shareholders’ equity
C. Total debt to equity share capital
D. Long term debt to equity share capital

692. Cost of goods sold refers to:
A. Sales minus gross profits
B. Sales minus profits
C. Cost of materials, labour and overheads
D. None of the above

693. Current Ratio is the ratio of:
A. Current assets to current liabilities
B. Current liabilities to current assets
C. Fixed assets to total liabilities
D. Current assets to total liabilities

694. Which factor plays an important role in improving the standard of living of the people and economic development?
A. Business
B. Trade
C. Industry
D. Commerce

695. It is payable by individuals, firms and companies which acquire an asset by purchase or a right to use for more than 20 years.
A. Income Tax
B. Federal Excise Duty
C. Capital Value Tax
D. Corporate Asset Tax

696. There is how many sections included in Income Tax Ordinance 2001
A. 235 sections
B. 240 sections
C. 250 sections
D. 260 sections

697. Ordinance is issued for the term of 4 months. Who promulgates the Ordinance?
A. President
B. Prime Minister
C. Chief Minister
D. Governor

698. The Income Tax Ordinance, 2001 extends to the whole of
A. Pakistan
B. Punjab
C. KPK
D.Balochistan

699. The Income Tax Ordinance, 2001 come into force on
A. 1st July 2001
B. 1st July 2002
C. 1st July 2003
D. 1st July 2004

700. “Accumulated profits” in relation to distribution or payment of a dividend, include:
A. any reserve made up wholly or partly of any allowance, deduction, or exemption admissible under income tax Ordinance 2001
B. for the purposes of [sub-clauses (a), (b) and (e) of clause (19) all profits of the company including income and gains of a trust up to the date of such distribution or such payment, as the case may be
C. for the purposes of sub-clause (c) of clause (19), includes all profits of the company including income and gains of a trust up to the date of its liquidation;
D. All of these

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