Page 3 – FPSC National Savings Officer Past Papers, Sample Questions

FPSC National Savings Officer Test → FPSC National Savings Officer Past Papers, Sample Test Questions

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FPSC NATIONAL SAVINGS OFFICER TEST
PART–II (PROFESSIONAL TEST); 80 QUESTIONS

11. Depreciation is normally charged as
(A) payable
(B) receivable
(C) expenses
(D) advances

12. Which of the following user groups require the most detailed financial information?
(A) Employees
(B) The management
(C) Government agencies
(D) Investors and potential investors

13. A business has incurred following costs for the year ended 31 December 2020:
(I) Extension in building Rs 1.5 million
(II) Repairs to building Rs 0.5 million
(III) Overhaul to machinery that increased production capacity Rs 1.2 million
What is the amount of capital expenditure incurred during the year?
(A) Rs 1.7 million
(B) Rs 2.0 million
(C) Rs 2.7 million
(D) Rs 3.2 million

14. The concept that recognizes the distinction between the receipt of cash and the right to receive the cash is called
(A) Accrual concept
(B) Cash concept
(C) Materiality concept
(D) None of the above

15. The correct form of accounting equation is
(A) Assets + Liabilities = Equity
(B) Assets – Liabilities = Equity
(C) Assets – Trade payables = Equity
(D) Assets + Receivable = Equity

ANSWERS: FPSC NATIONAL SAVINGS OFFICER TEST
11. (C) expenses
12. (D) Investors and potential investors
13. (C) Rs 2.7 million [1.5+1.2=2.7 million]
14. (A) Accrual concept
15. (B) Assets – Liabilities = Equity. Next: Questions 16–20