141. Preparation of final financial reports is governed in Pakistan under:
A. No law
B. Companies Ordinance
C. None of the above
D. All of the above
142. Inventory turnover is calculated as under:
A. CGS/ closing inventory
B. Gross profit closing inventory
C. Opening inventory
D. None of the above
143. There is a difference between:
A. Worksheet and Balance sheet worksheet as
B. Worksheet and profit and loss account
C. Combination results of profits and financial position
D. None of these
144. Preparation of the annual report of a firm governed under:
A. Partnership Act 1932
B. Under partnership Deed
C. None of these
D. All of these
145. Return of equity will be calculated as under:
A. Operating profit * 100 / Equity
B. Net profit * 100 / paid-up capital only
C. None of these
D. All of the above
146. Prime cost is calculated as under:
A. Manufacturing cost + cost of goods sold
B. Direct material plus factory overheads
C. Direct Labour + Direct Material
D. None of the above
147. Increase in income constitutes:
A. Inflows
B. Outflows
C. None of the above
148. Special Audit means an audit conducted under section:
A. 31
B. 32
C. 32A
D. 33
149. All officers of Inland Revenue and other persons employed in the execution of this act shall observe and follow the order instructions and direction of the Board under Section:
A. 71
B. 72
C. 72A
D. 72B
150. Tax paid means a period of _ month(s) or such other period as specified by the Federal Government:
A. One
B. Three
C. Five
D. Twelve
Admin