CPA Exam Mock Test 8 - Online MCQ Exam

Section 5, of the Control of Narcotic Substances Act, 1997 provides punishment for contravention of ________________?

1 Mark(s)

Your Answer:

Section 4, of the Control of Narcotic Substances Act, 1997
Section 4A, of the Control of Narcotics Substances Act, 1997
Section 5, of the Control of Narcotics Substances Act, 1997
All of above All of above

If the stock price of call option is $300 and the exercise price of call option is $260 then the intrinsic value of option is ___________?

1 Mark(s)

Your Answer:

260 260
560 560
40 40
300 300

An employee email should be?

1 Mark(s)

Your Answer:

Personal and informal Personal and informal
Professional and formal format only Professional and formal format only
Random username without structure Random username without structure
None of these None of these

The kind of costs that has been occurred in past are also known as __________?

1 Mark(s)

Your Answer:

unrecorded costs unrecorded costs
recorded costs recorded costs
sunk costs sunk costs
bunked costs bunked costs

An internal rate of return in capital budgeting can be modified to make it representative of_________?

1 Mark(s)

Your Answer:

Relative outflow Relative outflow
Relative inflow Relative inflow
Relative cost Relative cost
Relative profitability Relative profitability

All the constituencies with a stake in the fortunes of the company are termed as:

1 Mark(s)

Your Answer:

Stakeholders Stakeholders
Directors Directors
Chief executives Chief executives
Subordinates Subordinates

Time limitation for revision under section 115, of C.P.C is__________________?

1 Mark(s)

Your Answer:

Thirty days, from the date of the decision sought to be revised
Sixty days, from the date of decision sought to be revised
Ninety days, from the date of decision sought to be revised
None of above None of above

O. XVI, of C.P.C. contains ____________ Rules?

1 Mark(s)

Your Answer:

19, 19,
21, 21,
23, 23,
None of the these None of the these

The orders that are transacted at specified price are considered as ___________?

1 Mark(s)

Your Answer:

red herring order red herring order
limit order limit order
unlimited order unlimited order
assets order assets order

____________is also known as Appraisal system of depreciation?

1 Mark(s)

Your Answer:

Inventory system Inventory system
Survey system Survey system
Annuity system Annuity system
Insurance Insurance

Where the subject matter of the suit is movable property the decree shall contain the_______________?

1 Mark(s)

Your Answer:

Description of such property Description of such property
Value of the property Value of the property
Both (a) and (b) Both (a) and (b)
None of the these None of the these

Introduction capital by owner of business is recorded on which side of a cash book?

1 Mark(s)

Your Answer:

Receipts Receipts
Payments Payments
Incomes Incomes
Expenditures Expenditures

Discretion of Court in executing decrees for restitution of conjugal right is provide in________________?

1 Mark(s)

Your Answer:

O. XXI, Rule 30, of C.P.C. O. XXI, Rule 30, of C.P.C.
O. XXI, Rule 32, of C.P.C. O. XXI, Rule 32, of C.P.C.
O. XXI, Rule 33, of C.P.C. O. XXI, Rule 33, of C.P.C.
None of the these None of the these

Under O. XXVI, R. 19, of C.P.C. High Court can issue as commission to__________________?

1 Mark(s)

Your Answer:

Any person which it deems fit Any person which it deems fit
Any Court within the local limits of whose Jurisdiction the witness reside
None of the above None of the above
None of the these None of the these

The retail certificate of deposits which are not traded have face value of ___________?

1 Mark(s)

Your Answer:

250000 250000
100000 100000
150000 150000
200000 200000

The registration of FIR regarding cognizable offences is _________ duty of officer in charge of police station?

1 Mark(s)

Your Answer:

Fundamental Fundamental
Statutory Statutory
Constitutional Constitutional
None of above None of above

Article _________ of the Police Order, 2002 deals with composition of the National Public Safety Commission?

1 Mark(s)

Your Answer:

86 86
87 87
88 88
None of the above None of the above

The process of investing in projects that are most likely to be profitable within limited capital availability is called __________?

1 Mark(s)

Your Answer:

Capital Structure Capital Structure
Debt Structure Debt Structure
Asset Structure Asset Structure
Capital Rationing Capital Rationing

Refunding of Court fee paid on memorandum of appeal is dealt by________________?

1 Mark(s)

Your Answer:

Section 12, of the Court Fees Act Section 12, of the Court Fees Act
Section 13, of the Court Fees Act Section 13, of the Court Fees Act
Section 14, of the Court Fees Act Section 14, of the Court Fees Act
None of these None of these

The book value of existing equipment is a historical cost and not necessary for deciding equipment replacement, thus it can be considered as ___________?

1 Mark(s)

Your Answer:

operating cost operating cost
sunk cost sunk cost
in-house cost in-house cost
out-house cost out-house cost

Goods sent on approval basis’ have been recorded as ‘Credit sales’. This is an example of____________?

1 Mark(s)

Your Answer:

Error of principle Error of principle
Error of commission Error of commission
Error of omission Error of omission
Error of duplication Error of duplication

When a citizen of Pakistan commits an offence at any place without and beyond the limits of Pakistan he may be dealt with in respect of such offence ?

1 Mark(s)

Your Answer:

At place where he commit the offence At place where he commit the offence
At any place within Paistan at which he may be found
Will be tried at International Court of Justice
None of above None of above

The Court Fees Act, of 1870 consists _____________ Schedule?

1 Mark(s)

Your Answer:

1 1
2 2
None of the above None of the above
None of these None of these

Where the evidence of a witness is necessary but the person to be examined is out of Pakistan the Court may________________?

1 Mark(s)

Your Answer:

Issue commission Issue commission
Issue a letter of request Issue a letter of request
Both A and B Both A and B
None of the these None of the these

According to Constitution of 1962 _____________ was the Chief Executive of the Country?

1 Mark(s)

Your Answer:

President President
Prime-Minister Prime-Minister
chef minister chef minister
None of these None of these

The cost object user, who is ranked first in incremental cost allocation method is known as _________?

1 Mark(s)

Your Answer:

First incremental user First incremental user
primary user primary user
secondary user secondary user
second incremental user second incremental user

The Code of Civil Procedure was enacted on___________________?

1 Mark(s)

Your Answer:

21st January, 1908 21st January, 1908
21st February, 1908 21st February, 1908
21st March, 1908 21st March, 1908
None of the these None of the these

The effect of purchasing power or inflation on present value is important because _________?

1 Mark(s)

Your Answer:

It increases the real value of cash flows received in the future
It reduces the real value of cash flows received in the future
It has no effect on real value of cash flow received in the future
None of these None of these

In cost accounting, the types of inventory do not include ______________?

1 Mark(s)

Your Answer:

direct materials inventory direct materials inventory
work in process inventory work in process inventory
finished goods inventory finished goods inventory
indirect material inventory indirect material inventory

If the selling price is $5000, the contribution margin per unit is $1000, then the contribution margin percentage will be _____________?

1 Mark(s)

Your Answer:

12% 12%
20% 20%
5% 5%
15% 15%

As per Article 18(1), the head of investigation in a general police area shall be _________________?

1 Mark(s)

Your Answer:

Deputy Inspector General of Police Deputy Inspector General of Police
Additional Inspector General of police Additional Inspector General of police
Both A and B Both A and B
None of the above None of the above

“Coca derivative” mans_____________?

1 Mark(s)

Your Answer:

Crude cocaine, that is, any extract of coca leaf which can be used, directly or indirectly, for the manufacture or production of cocaine
Cocaine, that is, methyl benzoyl-leave-ecgonine having the chemical formula C17 H21 NO4 and its salt
Both (a) and (b) Both (a) and (b)
None of above None of above

The Constitution of 1956 was enacted by the assembly in the name of______________?

1 Mark(s)

Your Answer:

In the name of Islam In the name of Islam
In the name of Pakistan In the name of Pakistan
In the name of peoples In the name of peoples
Non of These Non of These

The repurchase agreements usually called repos, can be traded _____________?

1 Mark(s)

Your Answer:

directly directly
with brokers or dealers with brokers or dealers
functional buyers functional buyers
both A and B both A and B

The total indirect cost in the pool by an actual quantity of cost allocation base, is used to calculate ____________?

1 Mark(s)

Your Answer:

actual manufacturing overhead rate actual manufacturing overhead rate
manufacturing overhead costs manufacturing overhead costs
overhead rate overhead rate
direct rate direct rate

Debit side of Bank Pass book corresponds to___________?

1 Mark(s)

Your Answer:

Credit side of Cash Book Credit side of Cash Book
Debit side of Cash Book Debit side of Cash Book
Debit side of Trial Balance Debit side of Trial Balance
Credit side of Balance Sheet Credit side of Balance Sheet

The term “Parade” means_______________?

1 Mark(s)

Your Answer:

Procedure of conducting identification parade
Parade of any armed department Parade of any armed department
None of above None of above
None of these None of these

Section 22, of the Control of Narcotic Substances Act, 197 empowers Police to seizure and arrest any offender at ?

1 Mark(s)

Your Answer:

Police stations Police stations
Public places Public places
Religious festivals Religious festivals
None of above None of above

When there are more plaintiffs then _______________ of the others plaintiff will be need for withdrawal of a suit?

1 Mark(s)

Your Answer:

Affidavits Affidavits
Written permission Written permission
Consent Consent
None of the these None of the these

A magistrate appointed by Provincial Government under section 30, Cr.P.C enjoys all powers except_____________?

1 Mark(s)

Your Answer:

Offence punishable with seven years imprisonment
Offence punishable with ten years imprisonment
Offences punishable with death Offences punishable with death
None of above None of above

Copies of document made by mechanical process which themselves insure the accuracy of the copy and copies compared with such copies are_____________?

1 Mark(s)

Your Answer:

Primary type of evidence Primary type of evidence
Secondary type of evidence Secondary type of evidence
Special evidence Special evidence
None of these None of these

A person being Muhsin committed zina with a women to whom he is not and does not subject to be married shall be______________?

1 Mark(s)

Your Answer:

Stoned to death at public place Stoned to death at public place
Stoned to death in person Stoned to death in person
Stoned to death in Court Stoned to death in Court
None of above None of above

Discount for quick repayment of debt is normally referred as____________?

1 Mark(s)

Your Answer:

Trade discount Trade discount
Prompt payment discount Prompt payment discount
Cash discount Cash discount
Bulk discount Bulk discount

The amount payable to a person as consideration for the use of rights vested in him is

1 Mark(s)

Your Answer:

Dividend Dividend
Royalty Royalty
Purchase consideration Purchase consideration
Installment Installment

The financial firms such as mutual fund and insurance companies are also called __________?

1 Mark(s)

Your Answer:

insured financials insured financials
guaranteed business guaranteed business
credit business credit business
business financial business financial

The private placed stock and privately placed bonds are considered as _____________?

1 Mark(s)

Your Answer:

most illiquid securities most illiquid securities
most liquid securities most liquid securities
least liquid securities least liquid securities
least illiquid securities least illiquid securities

When any document is rejected by Court under O. XIII, Rule 3 of C.P.C. the order of such rejection will be ___________________?

1 Mark(s)

Your Answer:

Appealable Appealable
Reviewable Reviewable
Revisionable Revisionable
None of the these None of the these

7-Chloro-1-methyl-5-phenyl-iH-5-benzodiazepine-2, 4(3H,5H)-dione is the chemical name of____________?

1 Mark(s)

Your Answer:

CAMAZEPAM CAMAZEPAM
CLOBAZAM CLOBAZAM
Both (a) and (b) Both (a) and (b)
None of above None of above

Article ________ of the Police Order, 2002 deals with qualification of expert ?

1 Mark(s)

Your Answer:

13(1) 13(1)
13(2) 13(2)
14(1) 14(1)
14(2) 14(2)

Mental defectiveness which is as a result of retarded or in complete development before the age of 18 years is called ?

1 Mark(s)

Your Answer:

Amentia Amentia
Dementia Dementia
Both (a) and (b) Both (a) and (b)
None of above None of above

The year in which the Eurobonds are issued for the first time in financial markets is ______________?

1 Mark(s)

Your Answer:

1963 1963
1953 1953
1983 1983
1962 1962

An uncovered cost at the start of the year is $300, full cash flow during recovery year is $650 and prior years to full recovery is 4 then payback would be _________?

1 Mark(s)

Your Answer:

3.46 years 3.46 years
2.46 years 2.46 years
5.46 years 5.46 years
4.46 years 4.46 years

The managers using capacity planning do not make ___________

1 Mark(s)

Your Answer:

pricing decisions pricing decisions
marketing decisions marketing decisions
financial decisions financial decisions
cost budgeting decisions cost budgeting decisions

As per O. XXXII, R. 12 sub R. (2) where the guardian for the suit retires dies or removed by Court during the pendency of the suit___________________?

1 Mark(s)

Your Answer:

The next guardian will be appointed by minor
The Court shall appoint new guardian The Court shall appoint new guardian
None of the above None of the above
None of the these None of the these

Membership in the United Nations is open to all which accept the obligations contained in the United Nation Charter and, in the judgment of the Organization, are able and willing to carry out these obligations.

1 Mark(s)

Your Answer:

Asian states Asian states
European states European states
other peace-loving states other peace-loving states
states states

Rejection of plaint is dealt by __________________?

1 Mark(s)

Your Answer:

O. VII, Rule 10, O. VII, Rule 10,
O. VII, R. 11, O. VII, R. 11,
None of the above None of the above
None of the these None of the these

A right to sue accurse to X during his minority, X dies before attaining the majority and is succeeded by Y, his minor son. Time runs against Y from the date of __________________?

1 Mark(s)

Your Answer:

X death X death
His attaining majority His attaining majority
Both A. and B. D. None of above Both A. and B. D. None of above

The conversion values is $8500 and the conversion rate received on stock conversion is 430 then current market price of stock is _________?

1 Mark(s)

Your Answer:

15.24 15.24
13.24 13.24
20.24 20.24
19.24 19.24

O. XV, contains __________ Rules?

1 Mark(s)

Your Answer:

4 4
6 6
8 8
None of the these None of the these

All __________ are_________ not confessions?

1 Mark(s)

Your Answer:

Confession are admission Confession are admission
Admission are confessions Admission are confessions
None of above None of above
None of these None of these

The systematic flow of services, goods or information from the buying material for product delivery to the customers is known as __________?

1 Mark(s)

Your Answer:

supply chain supply chain
value chain value chain
material flow chain material flow chain
manufacturing flow chain manufacturing flow chain

The modified rate of return and modified internal rate of return with exceed cost of capital if the net present value is ____________?

1 Mark(s)

Your Answer:

positive positive
negative negative
zero zero
one one

In quantitative analysis to estimate cost function, the fourth step is to __________?

1 Mark(s)

Your Answer:

write a liner function write a liner function
write price function write price function
write manufacturing function write manufacturing function
plot the data plot the data

The word “Vernacular language” used in section 21 of the Court Fees Act, means_______________?

1 Mark(s)

Your Answer:

Local language Local language
Roman language Roman language
English language English language
None of these None of these

Trial Court is empowered by O. XII, _________ of C.P.C to pass judgment on the basis of admissions made by parties in their pleadings or at any stage of proceedings_______________?

1 Mark(s)

Your Answer:

Rule 2, Rule 2,
Rule 4, Rule 4,
Rule 6, Rule 6,
None of the these None of the these

Corporations such as Citigroup, American Express and Fidelity are classified as__________________?

1 Mark(s)

Your Answer:

Financial services corporations Financial services corporations
Common service corporations Common service corporations
Preferred service corporations Preferred service corporations
Commercial service corporations Commercial service corporations

Evaluating Your Answers

CPA Exam Mock Test 8 : Question 1 of 66