FPSC, PPSC & NTS Past Papers

FPSC National Saving Officer (BS-17) Test 2020 Syllabus

This Syllabus is expected on the basis of Past Papers & Required Qualification:

1. English


Vocabulary, Grammar Usage, Sentence Structuring


2. Computer (MS-Office)


3. Accounting


4. Finance


5. Auditing


6. G.K (Islamic studies & Pakistan Affairs)


Note: This syllabus will be updated if any changes is made by FPSC.



TEST PREPARATION MATERIAL


Accounting & Auditing Paper -I MCQs(2000)

(1) Double entry book-keeping was fathered by:

(a) F.W.Taylor

(b) Henry Fayol

(c) Lucas Pacioli.



(2) Funds Flow Statement and sources and application statement are:’

(a) Synonymous

(b) Antagonistic

(c) None of these.



(3) Depreciation in spirit is similar to:

(a) Depletion

(b) Amortization

(c) Depression.



4) Balance Sheet is always prepared:

(a) for the year ended.

(b) As on a specified date.

(c) None of these.



(5) In Insurance, the following Profit and Loss Accounts are prepared:

(a) Separate for Fire, Marine, and Accidents etc.

(b) Consolidated for Fire, Marine, and Accidents etc.(c) None of these.



(6) Partners in Pakistan can today be fixed at the following numbers:

(a) 20

(b) 50

(c) 75.



(7) Flexible budget is a budget with the following features:

(a) Changes with volume of production.

(b) Changes with variable expenses

(c) Changes in Direct material.



(8) Break Even can be calculated as under:

(a) ______VC_______

FC- TR TC

(b) FC

I- VC TR
(c) None of these.



(9) Quick Ratio can be computed as under:

(a) Quick . Assets/Quick Liabilities

(b) Quick . Liabilities Current Assets

(c) Current Assets/ Current Liabilities



(10) In straight line method of depreciation, the written down value of a fixed asset will be at the end of the life of the asset as under:

(a) Rupee one

(b) Rupee zero (c) None of these.



(11) Sales budget must be prepared:

(a) Independently

(b) Depending on production capacity

(c) Based on Sales forecasts of market.



(12) Consolidation of subsidiary accounts in the balance sheet of a unlisted Holding company is at present in Pakistan:

(a) Compulsory

(b) Voluntary

(c) Required.



(13) Retained earning is synonymous to:

(a) Accumulated profit and loss account

(b) Profit for the year

(c) None of these.



(14) The requirements of an audit report for a Banking Company in Pakistan is under:

(a) Under the Banking Companies Ordinance, 1962.

(b) Under the Companies Ordinance, 1984.

(c) Under (a) and (b) above.



(15) Deferred Taxation is:

(a) Fixed asset

(b) Fixed liabilities

(c) Part of Owners Equity.



(16) Investment Corporation of Pakistan follows:

(a) Open-end mutual funds

(b) Closed-end mutual funds

(c) None of these.



(17) Directors Report is ---- in respect of financial report constituent.

(a) Mandatory for a limited Company

(b) Voluntary for a limited Company

(c) None of these.



(18) Every limited Company in Pakistan is required by law to include the following along with financial reports:

(a) Ratio Analysis

(b) Chairman’s Review

(c) None of these.



(19) Cash budget excludes the following:

(a) Non-Cash items

(b) Cash items

(c) Purchase on Credit items.



(20) NGOs are legally required to:

(a) Prepare accounts in a prescribed manner under the law.(b) Prepare accounts as desired by donors.

(c) None of these.



Accounting & Auditing Paper MCQs-II (2000)



1. Fixed Cost:

a. Changes with production

b. Never changes even if production capacity is doubled

c. None of the above



2. Conversion cost is:

a. Material Cost + Overhead Cost

b. Direct Labour + Material Cost

c. Labour Cost + Overhead Cost



3. Process Costing is relevant to:

a. Cement industry

b. Job Order cost oriented Projects

c. None of the above



4. Operating Profit is:

a. Profit after deducting financial costs

b. Profit after deducting taxes

c. Profit after deducting normal operating expenses including depreciation



5. A good Cost Accounting System is:

a. If it computes estimated cost only

b. If it cannot be reconciled with financial accounts

c. If it enables management to increase productivity and rationalize cost structure



6. Verification includes:

a. Checking Vouchers

b. Examining audit report

c. None of the above



7. Stratified audit sample means:

a. Randomly selected items for audit

b. Purposively selected items for audit

c. Items carefully selected from each group



8. Internal Control is totally synonymous with:

a. Internal check

b. Internal audit

c. None of above



9. Audit of a bank is generally conducted through:

a. Routine checking

b. Couching

c. Balance sheet audit



10. An auditor is liable for his annual audit of accounts o:

a. Creditors

b. Bankers

c. Owners



11. Income Tax is levied on:

a. Agricultural Income

b. Presumptive Income

c. None of above



12. If a firm has paid super-tax, its partners may follow any one of the following behaviours:

a. No need to pay income tax, even if the income exceeds the taxable limit.

b. Pay income tax, even if the income does not exceed the taxable income.

c. Pay income tax as required under the law.



13. A resident multinational company need not:

a. Pay income tax, if it s caused under Double Taxation agreement.

b. If it is not enjoying tax exemption under the Income Tax Ordinance, 1979 (Second Schedule).

c. None of above



14. Income Tax rates are the same for:

a. Limited Companies

b. Banking Companies

c. None of above



15. Super Tax on companies is:

a. In vogue in Pakistan

b. Not in vogue in Pakistan

c. None of above



16. Current Ratio is calculated as:

a. Fixed Assets/Current Liabilities

b. Current Liabilities/Current Assets

c. Current Assets/Current Liabilities



17. Short-term loan can be described as:

a. If the period is three years

b. If the period is less than one year

c. If the period is over one year



18. A partnership, in today’s Pakistan, under the current law can have the following number of partners:

a. 50

b. 20

c. 100



19. Combination can be best described as:

a. Restructuring of Capital of a Company

b. Reduction of Capital of a Company

c. Amalgamation of two different types of businesses



20. Sources of funds can be increased by:

a. Describing selling prices

b. Increasing expenditure

c. None of above
Accounting & Audting Paper-II (2001)

Write only the correct answer in the Answer Book. Do not reproduce the questions.

(1) The measureable value of an alternative use of resources is referred to as:
(a) An opportunity cost
(b) An imputed cost
(c) A different cost
(d) A sunk cost
(e) None of these

(2) A quantitative expression of management objectives is an:
(a) Organizational chart
(b)Management chart
(c) Budget
(d) Procedural chart
(e) None of these

(3) A cost center is:
(a) A unit of production in relation to which costs are ascertained
(b) A location which is responsible for controlling direct costs
(c) Part of the factory overhead system by which costs are gathered
(d) Any location or department which incurs cost
(e) None of these

(4) At break-even point of 400 units sold the variable costs were Rs. 400 and the fixed costs were Rs.200. What will be the 401 units sold contributing to profit before income tax?
(a) Rs. 0.00
(b) Rs. 0.50
(c) Rs. 1.00
(d) Rs. 1.50
(e) None of these

(5) In considering a special order situation that will enable a company to make use of currently idle capacity, which of the following cost will be irrelevant:
(a) Materials
(b) Depreciation
(c) Direct labour
(d) Variable factory overhead
(e) None of these

(6) A fixed cost:
(a) May change in total when such change is not related to changes in production
(b) Will not change in total because it is not related to changes in production
(c) Is constant per unit for each unit of change in production
(d) May change in total, depending on production with the relevant range
(e) None of these

(7) Completion of a job is result in:
(a) DR finished goods …….. CR WIP
(b) DR Cost of goods ……... CR finished goods
(c) DR WIP ……………..….….. CR FOH control
(d) DR FOH control …….….. CR FOH applied
(e) None of these

(8) Operating cost in often named as:
(a) Manufacturing cost plus commercial expenses
(b) Prime cost plus factory overheads
(c) Direct material plus direct labour
(d) Selling plus administrative expenses
(e) None of these

(9) Expenses such as rent and depreciation of a building are shared by several departments these are:
(a) Indirect expenses
(b) Direct expenses
(c) Joint expenses
(d) All of the above
(e) None of these

(10) If under applied FOH is closed to cost of goods sold, the journal entry is:
(a) DR Cost of goods sold …….. CR FOH control
(b) DR FOH control ……..……….. CR Cost of goods sold
(c) DR FOH control ……..……….. CR Profit % loss account
(d) None of these

(11) Re-order quantity …… 3600 units
Maximum consumption ...… 900 units per week
Minimum comsumption …....300 units per week
Re-order period …………….….5 weeks
Based on this data Re-order level is:
(a) 4500 units
(b) 3900 units
(c) 1200 units
(d) 400 units
(e) None of these

(12) The time lag between indenting and receiving material is called:
(a) Lead time
(b) Idle time
(c) Stock out time
(d) None of these

(13) A credit balance remaining in FOH Control account is called:
(a) Over-applied overhead
(b) Under-applied overhead
(c) Actual overhead
(d) None of these

(14) Direct material cost plus direct labour cost is called:
(a) Prime cost
(b) Conversion cost
(c) Product cost
(d) All of these
(e) None of these

(15) Productivity means:
(a) The ability to produce
(b) All units produced
(c) Good units produced
(d) None of these

(16) A segment of the business that generates both revenue and cost is called:
(a) Profit Center
(b) Cost Center
(c) Cost driver
(d) All of these
(e) None of these

(17) Verification includes:
(a) Checking vouchers
(b) Examining audit report
(c) None of these

(18) Audit of a bank is generally conducted through:
(a) Routine checking
(b) Vouching
(c) Balance sheet audit
(d) None of these

(19) Economics resources of a business that are expected to be of benefit in the future are referred to as:
(a) Liabilities
(b) Owner’s equity
(c) Withdrawals
(d) Assets
(e) None of these

(20) Short term Loan can be best described as:
(a) If the period is three years
(b) If the period is less than one year
(c) If the period is over one year
(d) None of these

Accounting & Audting Paper-II (2001)

Write only the correct answer in the Answer Book. Do not reproduce the questions.

(1) The measureable value of an alternative use of resources is referred to as:
(a) An opportunity cost
(b) An imputed cost
(c) A different cost
(d) A sunk cost
(e) None of these

(2) A quantitative expression of management objectives is an:
(a) Organizational chart
(b)Management chart
(c) Budget
(d) Procedural chart
(e) None of these

(3) A cost center is:
(a) A unit of production in relation to which costs are ascertained
(b) A location which is responsible for controlling direct costs
(c) Part of the factory overhead system by which costs are gathered
(d) Any location or department which incurs cost
(e) None of these

(4) At break-even point of 400 units sold the variable costs were Rs. 400 and the fixed costs were Rs.200. What will be the 401 units sold contributing to profit before income tax?
(a) Rs. 0.00
(b) Rs. 0.50
(c) Rs. 1.00
(d) Rs. 1.50
(e) None of these

(5) In considering a special order situation that will enable a company to make use of currently idle capacity, which of the following cost will be irrelevant:
(a) Materials
(b) Depreciation
(c) Direct labour
(d) Variable factory overhead
(e) None of these

(6) A fixed cost:
(a) May change in total when such change is not related to changes in production
(b) Will not change in total because it is not related to changes in production
(c) Is constant per unit for each unit of change in production
(d) May change in total, depending on production with the relevant range
(e) None of these

(7) Completion of a job is result in:
(a) DR finished goods …….. CR WIP
(b) DR Cost of goods ……... CR finished goods
(c) DR WIP ……………..….….. CR FOH control
(d) DR FOH control …….….. CR FOH applied
(e) None of these

(8) Operating cost in often named as:
(a) Manufacturing cost plus commercial expenses
(b) Prime cost plus factory overheads
(c) Direct material plus direct labour
(d) Selling plus administrative expenses
(e) None of these

(9) Expenses such as rent and depreciation of a building are shared by several departments these are:
(a) Indirect expenses
(b) Direct expenses
(c) Joint expenses
(d) All of the above
(e) None of these

(10) If under applied FOH is closed to cost of goods sold, the journal entry is:
(a) DR Cost of goods sold …….. CR FOH control
(b) DR FOH control ……..……….. CR Cost of goods sold
(c) DR FOH control ……..……….. CR Profit % loss account
(d) None of these

(11) Re-order quantity …… 3600 units
Maximum consumption ...… 900 units per week
Minimum comsumption …....300 units per week
Re-order period …………….….5 weeks
Based on this data Re-order level is:
(a) 4500 units
(b) 3900 units
(c) 1200 units
(d) 400 units
(e) None of these

(12) The time lag between indenting and receiving material is called:
(a) Lead time
(b) Idle time
(c) Stock out time
(d) None of these

(13) A credit balance remaining in FOH Control account is called:
(a) Over-applied overhead
(b) Under-applied overhead
(c) Actual overhead
(d) None of these

(14) Direct material cost plus direct labour cost is called:
(a) Prime cost
(b) Conversion cost
(c) Product cost
(d) All of these
(e) None of these

(15) Productivity means:
(a) The ability to produce
(b) All units produced
(c) Good units produced
(d) None of these

(16) A segment of the business that generates both revenue and cost is called:
(a) Profit Center
(b) Cost Center
(c) Cost driver
(d) All of these
(e) None of these

(17) Verification includes:
(a) Checking vouchers
(b) Examining audit report
(c) None of these

(18) Audit of a bank is generally conducted through:
(a) Routine checking
(b) Vouching
(c) Balance sheet audit
(d) None of these

(19) Economics resources of a business that are expected to be of benefit in the future are referred to as:
(a) Liabilities
(b) Owner’s equity
(c) Withdrawals
(d) Assets
(e) None of these

(20) Short term Loan can be best described as:
(a) If the period is three years
(b) If the period is less than one year
(c) If the period is over one year
(d) None of these

Accounting & Auditing Paper-I (2002)


(1) 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

(2) Preparation of final financial reports is governed in Pakistan under:
(a) No law
(b) Companies Ordinance 1984
(c) None of these

(3) Depreciation is based on:
(a) Economic life of asset
(b) Declared life of asset by supplier
(c) Normal life of asset
(d) None of these

(4) 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

(5) There is a difference between:
(a) Worksheet and Balance Sheet
(b) Worksheet and profit and loss account
(c) Worksheet as combination of results of profits and financial positions
(d) None of these

(6) Deferred Revenue is:
(a) Liability
(b) Asset
(c) None of these

(7) Preparation of annual report of a firm is governed under:
(a) Partnership Act 1932
(b) Under partnership Deed
(c) None of these

(8) Deferred Taxation amount be treated as:
(a) Foot note
(b) An item in the Balance Sheet on asset side
(c) None of these

(9) 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

(10) Current maturity of long term loan is:
(a) Current Liability
(b) Long Term Liability
(c) None of these


Accounting & Auditing Paper-II (2002)

Write only the correct answer in the Answer Book. Do not reproduce the questions.

(1) 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

(2) Process Cost is very much applicable in:
(a) Construction Industry
(b) Pharmaceutical Industry
(c) Air line company
(d) None of these

(3) The latest computation of variances of manufacturing overheads is in one the following ways:
(a) Two variance approaches
(b) Three variance approaches
(c) Four variance approaches
(d) None of these

(4) Random sampling in auditing means:
(a) Selection through convenience sampling
(b) Selection through scientific sampling approach
(c) None of these

(5) Expenditure incurred in procuring machinery is:
(a) An admissible expenditure for tax purposes
(b) No admissible for tax purposes
(c) None of these

(6) Increase in income constitutes:
(a) Inflows
(b) Outflows
(c) None of these

(7) M & A stands for:
(a) Mergers & Analysis
(b) Mergers & Acquisitions
(c) Mergers & Allocation
(d) None of these

(8) An endowment insurance policy can be taken in respect of:
(a) Fire insurance
(b) Accident insurance
(c) Life insurance
(d) None of these

(9) Audit and special audit are the same:
(a) In Insurance Company
(b) In Banking Company
(c) None of these

(10) Acid test is the same as:
(a) Quick test
(b) Liquid test
(c) None of these


TEST PREPARATION MATERIAL





About Islam (Islamic Studies)

  1. Hazrat Muhammad PBUH
  2. About Hazrat Muhammad (PBUH) Life
  3. Wifies of Hazrat Muhammad PBUH
  4. Important Islamic History Events
  5. Important points of The Holy Quran
  6. Al-Quran MCQs
  7. About SAHABA KARAM
  8. Namaz
  9. Zakat
  10. Fasting (Roza)
  11. Imortant Article of Faith and Fundamental of ISLAM
  12. Important Islamic terms and Places
  13. Islamic Months of Years
  14. General Knowledge-Heavenly Books
  15. Important Angles
  16. Ashra-e-Mubrashra
  17. Reign Of 4 Caliphates(Khulafa Rashideen)
  18. Famous Islamic Generals
  19. Famous Islamic Battles
  20. Important Personalities and Their Titles in Islam
  21. Famous Muslim Scientists
  22. Important Questions about Islamic Studies


    PPSC GENERAL KNOWLEDGE

  1. PPSC Past GENERAL KNOWLEDGE Questions


Who is Who and What is What

  1. MOUNTAINS
  2. IMPORTANT MOUNTAIN PASSES
  3. OCEANS
  4. FAMOUS SEA PORTS
  5. FAMOUS STRAITS
  6. WORLD RIVERS
  7. FAMOUS ISLANDS
  8. FAMOUS DESERTS
  9. CITIES ON RIVER BANKS
  10. GEOGRAPHICAL DISCOVERIES
  11. WORLD COUNTRIES
  12. GENERAL KNOWLEDGE ABOUT WORLD
  13. IMPORTANT PHYSICAL PROPERTIES
  14. Ten LARGEST COUNTRIES BY AREA
  15. IMPORTANT ABBREVIATIONS
  16. IMPORTANT UNITS OF MEASUREMENT
  17. IMPORTANT INFORMATION ABOUT RAYS AND WAVES
  18. IMPORTANT INFORMATION ABOUT UNIVERSE
  19. NOBLE PRIZE
  20. NATIONAL EMBLEM
  21. FAMOUS EPITHETS
  22. IMPORTANT GEOGRAPHICAL LINES OF WORLD
  23. About Islam
  24. Hazrat Muhammad PBUH
  25. General Knowledge About Hazrat Muhammad PBUH Life
  26. Wifies of Hazrat Muhammad PBUH
  27. Important Islamic History Events
  28. Important points of The Holy Quran
  29. Al-Quran MCQs
  30. About SAHABA KARAM
  31. Namaz
  32. Zakat
  33. Fasting (Roza)
  34. Imortant Article of Faith and Fundamental of ISLAM
  35. Important Islamic terms and Places
  36. Islamic Months of Years
  37. General Knowledge-Heavenly Books
  38. Important Angles
  39. Ashra-e-Mubrashra
  40. Reign Of 4 Caliphates(Khulafa Rashideen)
  41. Famous Islamic Generals
  42. Famous Islamic Battles
  43. Important Personalities and Their Titles in Islam
  44. Famous Muslim Scientists
  45. Important Questions about Islamic Studies

  46. PPSC GENERAL KNOWLEDGE
  47. PPSC PAST Papers General Knowledge Questions


  48. About World

  49. World Records
  50. World Records (Guniees Book)
  51. 7 Wonders of the World
  52. Inventions and Inventors
  53. Important Facts of Worlds
  54. Important Places Of World
  55. Important Awards Of World
  56. Top 10 Languages of World
  57. Highest Military Awards of World
  58. Important Geographical Lines of World
  59. World Imortant National Days
  60. Importnat Religions of World
  61. Important Political terms and concepts
  62. Important News Agency of the World
  63. About UNO
  64. Organs of UNO
  65. Important Specialized agency of the UNO
  66. World Country with Capitals & Currency
  67. Famous Name of Places(Country)

  68. About Pakistan
  69. Basic Information About Pakistan
  70. Districts of Pakistan
  71. RIVERS OF PAKISTAN
  72. The Largest in Pakistan
  73. The Longest and Tallest in Pakistan
  74. Mountain Passes in Pakistan
  75. Chairman Senate and seats Distibutions of Pakistan
  76. Chief Justices of Pakistan
  77. Pakistan Affairs
  78. Who is First in PAKISTAN
  79. PAKISTAN GOVERNOR GENERALS
  80. PAKISTAN Presidents
  81. PAKISTAN Prime Ministers
  82. Attorney Generals of Pakistan
  83. State Bank Governors of pakista
  84. Army Chiefs of PAKISTAN
  85. Federal Cabinet of PAKISTAN
  86. Location of important Metalic and Non Metalic Minerals
  87. Constitutional Amedments Since 1973
  88. Army,PAF and Navy Officer Ranks
  89. About Science
  90. Basic Geometry Math Defination
  91. Important Units of Measurments
  92. Basic Scientific Questions