831. Maximum number of partners in a partnership firm set up in Pakistan under Partnership Act, 1932 is:
A. 5
B. 25
C. 20
D. None of these

832. Preparation of final financial reports is governed in Pakistan under:
A. No law
B. Companies Ordinance 1984
C. None of these

833. Inventory turnover is calculated as under:
A.Cost of Goods sold/Closing Inventory
B. Gross profit/Closing Inventory
C. Sales/Opening Inventory
D. None of these

834. Deferred Revenue is:
A. Liability
B. Asset
C. None of these

835. Preparation of annual report of a firm is governed under:
A. Partnership Act 1932
B. Under partnership Deed
C. None of these

836. Deferred Taxation amount be treated as:
A. Foot note
B. An item in the Balance Sheet on asset side
C. None of these

837. Return of Equity will be calculated as under:
A. Operating Profit x 100/Equity
B. Net profit x 100/Paid up Capital only
C. None of these

838. Current maturity of long term loan is:
A. Current Liability
B. Long Term Liability
C. None of these

839. Prime cost is calculated as under:
A. Manufacturing Cost/Cost of Goods Sold
B. Direct Method plus factory overheads
C. Direct labour + Direct Material
D. None of these

840. Process Cost is very much applicable in:
A. Construction Industry
B. Pharmaceutical Industry
C.Air line company
D. None of these

NOTE
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