Category Archives: Accounting

The paradigm of accounting here will explain each and every accounting mcqs directly or indirectly relate to the questions will discuss here. The accounting MCQs for NTS test is the ultimate solution for the students and job applicants in Pakistan. The category will explain that how advance accounting mcqs look likes Accounting Mcqs With Answers In Pakistan. So don’t worry www.pakistangk.com will share advance accounting mcqs with answers in this section. It is just like the way that will consider accounting mcqs online test and its approach for preparing the written test for NTS, JTS, PTS, OTS, JTS, GTS, BTS, CTS, Fpsc, kppsc, ppsc, ajkpsc, ,BPSC, SPSC, CSS, NTS, ETEA, ETS, JTS, MTS, CTS, Pak Army, Pak Navy, PAF, Police, Rangers And All armed forces,

Which Is Provincial Tax In Pakistan

Question: Which Is Provincial Tax In Pakistan? Excise Tax Sales Tax Import Duty Motors Token Tax Answer: Motors Token Tax is Provincial Tax In Pakistan It is known the fact that other nations who successfully gained the title of developed states maintain the rule of taxation. The tax system of Pakistan continued to grow according to all means with adequate revenues. The under-perform paradigm successfully struggles to get the status of the developed state in Pakistan. It is the system…

Pakistan Fiscal Year Starts From

Question: Pakistan Fiscal Year Starts From 1st September 1st January 1st April 1st July Answer: 1st July Pakistan Fiscal year Starts from 1st July Beginning and ending months for a country’s accounting period is known as the fiscal year. It is truly available for accounting purpose. The accounting purpose continues with the preparation financial statements. It is totally different than a calendar year. It is all about the tax purpose with the internal revenue service (IRS). Fiscal year taxpayers re-evaluated…

Short term Assets are Expected to be Converted into Cash Within?

  Question: Short term Assets are Expected to be Converted into Cash Within? One year Two years Three years Four years Answer: One year  Short term Assets are Expected to be Converted into Cash Within One Year Current assets  basically known as the balance sheet that is a complete representation of the value of the assets that can reasonably put into the converting zone. However, current assets are major known as the form of the balance sheet. It is the act…

A Ledger Is Called A Book Of

Question: A Ledger Is Called A Book Of? First Entry Secondary Entry Middle entry Primary Entry Answer: Secondary Entry A Ledger Is Called A Book Of Secondary Entry because ledger accounts are prepared after the journal. It is also known as the Primary Book and principal book because the trial balance and final accounts of the company are prepared from Ledger accounts.  A ledger Account is also known as the book on final entry because in this step accounts are…

A Ledger Account is Prepared From

Question: A Ledger Account is Prepared From? Income Statement Journal Cash Flow Trial Balance Answer: Journal A Ledger Account is prepared from the Journal accounts. In Accounting Cycle, Ledger is the second step after preparation of Journal entries. Accounting ledger is a book that contains all accounts of the company and includes the debits and credits under each of these accounts and the resulting balance. Ledger is known as the book of Final entry. In Ledger accounts, we record debits…