SPSC 2009 Lecturer Commerce BPS-17, Education & Literacy Department (2009) Paper

Lecturer Commerce BPS-17, Education & Literacy Department (2009). Pre-interview written test · Thursday, October 2009, from 10:00 am · Total marks 100. 50 questions of 2 marks each; each mistake deducts 1 mark. Some questions are fill-in-the-blank. The scan is faint, so a few figures could not be read.

1. 1The process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return:

   • A)Business
   • B)Marketing
   • C)Advertising
   • D)Market

2. 2The systematic design, collection, analysis and reporting of data relevant to a specific marketing situation facing an organization is:

   • A)Marketing Information
   • B)Marketing Research
   • C)Marketing Analysis
   • D)Marketing Mix

3. 3It is a management function that helps managers recruit, select, train and develop members for an organization:

   • A)Management
   • B)Marketing
   • C)Human Resource Management
   • D)Financial Management

4. 4A letter of credit is opened on behalf of:

   • A)An exporter
   • B)An importer
   • C)A buying agent
   • D)A bank

5. 5A voluntary organization of workers or employees formed to promote and protect their interest:

   • A)Safety rules
   • B)Association
   • C)Unions
   • D)Committee

6. 6Under the diminishing balance method depreciation is calculated on:

   • A)Original cost
   • B)Written down value
   • C)The scrap value

7. 7An expenditure is a revenue expenditure because:

   • A)It is intended to benefit the current period
   • B)The amount involved is small
   • C)It is deducted from the gross sale proceeds

8. 8Discount on issue of shares account is a loss of:

   • A)Capital
   • B)Revenue
   • C)Expenditure

9. 9An indent means:

   • A)A list of forwarding agents
   • B)An order containing terms of trade
   • C)List of suppliers

   Explanation: An order placed (usually through an agent) for goods, stating the terms.

10. 10The net profit ratio is calculated by which of the following formulas:

    • A)Net profit / Total sales × 100
    • B)Net profit / (Total sales − sales returns) × 100
    • C)Net profit / Capital employed × 100

    Explanation: Net profit ÷ net sales × 100.

11. 11Span of management means:

    • A)A good organization should consist of departments
    • B)Authority of each person must be clearly defined
    • C)Each subordinate should have one superior
    • D)A manager can supervise a limited number of executives

12. 12X, Y and Z are partners in the ratio of 1/2 : 2/5 : 1/10. What will be the new ratio of the remaining partners if X retires?

    • A)2 : 1
    • B)4 : 1
    • C)5 : 1
    • D)3 : 1

    Explanation: 2/5 : 1/10 = 4 : 1.

13. 13When shares are forfeited, the share capital account is debited with the:

    • A)Nominal value of shares
    • B)Paid up value of shares
    • C)Called up value of shares

14. 14The immediate solvency of a firm is measured by:

    • A)Quick ratio
    • B)Current ratio
    • C)Stock turnover ratio
    • D)Debtors turnover ratio

    Explanation: The quick (acid-test) ratio.

15. 15Assets of a business are Rs ____ and liabilities Rs 4,120. What is the amount of owner's equity? (The assets figure is illegible in the scan.)

    Answer: Owner's equity = Assets − Liabilities.

16. 16When sales are Rs 480,000 (figure partly illegible), gross loss is 25% on cost, purchases are Rs 350,000 and closing stock is Rs 60,000, the opening stock will be:

    • A)Rs 70,000
    • B)Rs 120,000
    • C)Rs 134,000
    • D)Rs 350,000

    Explanation: Cost of sales = 480,000 ÷ 0.75 = 640,000; opening stock = 640,000 + 60,000 − 350,000 = 350,000. (Option B is illegible in the scan.)

17. 17What is the amount of purchases when cost of goods sold is Rs 22,000, given the opening and closing stock? (The stock figures are illegible in the scan.)

    Answer: Purchases = Cost of goods sold + Closing stock − Opening stock. (Printed options: Rs 20,000 / — / Rs 27,000 / Rs 17,000.)

18. 18Liquidity deals with:

    • A)Return on equity
    • B)Conversion into cash
    • C)Short term credit
    • D)Long term credit

19. 19The amount of share money received by the company is shown under the heading ______ in the company's balance sheet.

    Answer: Share capital (paid-up capital).

20. 20Gross profit − operating expenses = ______

    Answer: Operating (net) profit.

21. 21An expenditure benefiting the current year is ______ expenditure.

    Answer: Revenue expenditure.

22. 22Total amount of depreciation to be written off over the life of an asset is equal to the cost of the asset less its ______

    Answer: Scrap (residual / salvage) value.

23. 23Stock exchange deals with the:

    • A)Second hand securities
    • B)Issue of equity shares
    • C)Issue of preference shares
    • D)Issue of debentures

24. 24Line organization is also called:

    • A)Formal organization
    • B)Informal organization
    • C)Functional organization
    • D)Military organization

25. 25In case of liquidation of a company, which of the following is repayable last?

    • A)Equity capital
    • B)Preference capital
    • C)Debentures
    • D)Public deposits

26. 26Which one of the following is the registered capital of the company?

    • A)Paid up capital
    • B)Called up capital
    • C)Authorized capital
    • D)Reserve capital

27. 27Bank overdraft is a good source of finance for:

    • A)Short term
    • B)Medium term
    • C)Long term
    • D)Any of these

28. 28Liquid assets include:

    • A)Only cash
    • B)Cash and debtors
    • C)Cash and debtors except bad debts
    • D)Cash, debtors except bad debts, and marketable securities

29. 29The market value of a firm is:

    • A)The higher of its liquidation or book value
    • B)Its going-concern value
    • C)The higher of its book or going-concern value
    • D)The higher of its liquidation or going-concern value

30. 30Short-term creditors would be most interested in a firm's:

    • A)Liquidity ratios
    • B)Profitability ratios
    • C)Debt ratio
    • D)Coverage ratios

31. 31Who has been titled as 'Saifullah'?

    • A)Hazrat Ali (R.A)
    • B)Hazrat Khalid Bin Waleed (R.A)
    • C)Abu Ubaidah (R.A)
    • D)Hazrat Umar (R.A)

32. 32Evolution of the human species occurred in:

    • A)Asia
    • B)Africa
    • C)Europe
    • D)None of these

33. 33Who was the viceroy at the time of the partition of Bengal?

    • A)Lord Curzon
    • B)Lord Canning
    • C)Lord Minto
    • D)Lord Hardinge

34. 34Queen of Sheba (Saba) was contemporary of Prophet:

    • A)David (Daud) (A.S)
    • B)Moses (Musa) (A.S)
    • C)Solomon (Suleman) (A.S)
    • D)Hazrat Haroon (A.S)

35. 35The highest railway station above sea level in Pakistan is:

    • A)Quetta
    • B)Coalpur (Kolpur)
    • C)Landi Kotal
    • D)Peshawar

    Explanation: Of the options, Kolpur (about 1,790 m) is highest; the highest overall is Kan Mehtarzai.

36. 36Pick out the most correct meaning of the word "PARAMOUR":

    • A)Taste
    • B)Island
    • C)Illicit lover
    • D)Atheist

37. 37Pick the word that best reflects the sentence's overall meaning: The young man was quickly promoted when his employers saw how ______ he was.

    Answer: Diligent (hard-working / industrious).

38. 38Change the Voice: The laws of gravitation were first discovered by Newton.

    Answer: Newton first discovered the laws of gravitation.

39. 39Which Assembly passed the One Unit bill?

    • A)First Constituent Assembly
    • B)Second Constituent Assembly
    • C)First Elected Assembly
    • D)None of these

    Explanation: September 1955.

40. 40How long did the Holy Quran take for its complete revelation?

    • A)20 years
    • B)23 years
    • C)25 years
    • D)30 years

41. 41The Treaty of Hudaibia was signed in:

    • A)5th Hijrah
    • B)6th Hijrah
    • C)7th Hijrah
    • D)8th Hijrah

42. 42Sindh was conquered by Muhammad Bin Qasim during the period of:

    • A)Umayyads
    • B)Tulunids
    • C)Abbasids
    • D)Khiljis

43. 43From the four underlined words or phrases, identify the one that is not correct: (A) Octopuses have not only large brains (B) and also (C) a (D) well-developed nervous system.

    • A)Octopuses
    • B)and also
    • C)a
    • D)well-developed

    Explanation: "Not only … but also".

44. 44Uranium ores in Pakistan are located in:

    • A)Khirthar Range
    • B)Chaghi Range
    • C)Kalabagh Range
    • D)Himalayan Range

    Explanation: As usually keyed; Pakistan's main uranium deposits are in the Dera Ghazi Khan (Sulaiman) area, which is not an option.

45. 45The organs which are morphologically different but perform the same function are called:

    • A)Homologous organs
    • B)Analogous organs
    • C)Vestigial organs
    • D)None of these

46. 46The smallest angiosperm is ______

    Answer: Wolffia (watermeal).

47. 47Under the Islamic law of inheritance, what would be the share of the wife from the husband's property in the presence of children?

    • A)Half
    • B)One third
    • C)One eighth
    • D)One fourth

48. 48The largest flower on earth is ______

    Answer: Rafflesia (Rafflesia arnoldii).

49. 49The approximate age of the earth:

    • A)2.6 × 10⁷ years
    • B)3.6 × 10⁸ years
    • C)4.6 × 10⁹ years
    • D)None of these

50. 50Fill in the blanks with the correct article (a, an, the) or nothing: Islands make up ______ entire land area of some countries, including ______ Japan and ______ Philippines.

    Answer: Islands make up the entire land area of some countries, including (no article) Japan and the Philippines.