251. Under the Rule of thumb a good current ratio is:
A.6 : 1
B.10 : 1
C. .05 : 1
D.2 : 1

252. Financial analysis is a legislative requirement under:
A. Companies Ordinance 1984
B. Partnership Act 1932
C. Voluntary act
D. None of these

253. Pakistan follows the following budgeting system at Federal level:
A. Zero-Based Budgeting
B. Program Budgeting
C. Responsibility Budgeting
D. Incremental / decremental budgeting

254. Preparation of budget by a company is compulsory under:
A. No Law
B. Several laws
C. Securities & Exchange Ordinance 1969
D. Companies Ordinance 1984

255. Depreciation must be accounted for:
A. Revenues
B. Fixed Assets
C. Share Capital
D. None of these

256. Accelerated depreciation is allowed under:
A. Income Tax Ordinance 2001
B. Voluntary principals
C. Prudential Regulations
D. None of these

257. Partnerships are legally required to prepare their financial statements for distribution on wide basis under:
A. Partnerships Act 1932
B. Securities & Exchange Rules 2000
C. Voluntary Act for Compliance
D. None of these

258. A company is considered sick if the market value compared to its par value is:
A.1 : 1
B.2 : 1
C.0.25 : 1
D. None of these

259. While vouching wages, auditor should examine whether there is proper segregation of duties. Which of the following activities should not be done by same department?
A. Maintaining personnel records and approving changing in wages rates
B. Proposing pay roll summary and disbursement of wages
C. Making salary statements and filing tax returns
D. Comparing time clock records with time reports prepared by supervisors and preparing list of workers employed along with the units of production for each one of them

260. A sale of ₹ 30.000 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

NOTE
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