## HEC HAT-UG-ICOM Business Math Past Sample MCQs Papers Practice Test

HEC HAT-UG-ICOM Business Math Past Sample MCQs Papers Practice Test
Sample Papers
Paper Format

If Sales Price is 672 and profit is 5%, then cost price should be

630
649
640
700

A deduction that is offered on mp or list price of items by seller to purchaser is called

selling price
discount
profit
none of above

Marked price – sales price is equal to

profit
discount
list price
none of above

(Profit ⁄Cost Price) × 100 is equal to

discount
selling price
loss percentage
profit percentage

Printed price on wrapper or tag of item is known as

mp
sales price
list price
discount

A shopkeeper earns o profit of 30% by selling a table for \$2500. cost price should be

1900
2000
1923
2150

If Sales Price is 2640 and loss is 12%, then cost price should be

3000
3200
3500
4000

## HAT-UG-ICOM Solved MCQs Accounting Past Papers Practice Sample Test

HAT-UG-ICOM Solved MCQs Accounting Past Papers Practice Sample Test
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.

21. Fixed Cost:
a. Changes with production
b. Never changes even if production capacity is doubled
c. None of the above

22. Conversion cost is:
a. Material Cost + Overhead Cost
b. Direct Labour + Material Cost
c. Labour Cost + Overhead Cost

23. Process Costing is relevant to:
a. Cement industry
b. Job Order cost oriented Projects
c. None of the above

24. Operating Profit is:
a. Profit after deducting financial costs
b. Profit after deducting taxes
c. Profit after deducting normal operating expenses including depreciation

25. 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

26. Verification includes:
a. Checking Vouchers
b. Examining audit report
c. None of the above

27. Stratified audit sample means:
a. Randomly selected items for audit
b. Purposively selected items for audit
c. Items carefully selected from each group

28. Internal Control is totally synonymous with:
a. Internal check
b. Internal audit
c. None of above

29. Audit of a bank is generally conducted through:
a. Routine checking
b. Couching
c. Balance sheet audit

30. An auditor is liable for his annual audit of accounts o:
a. Creditors
b. Bankers
c. Owners

## HAT-UG-GS Statistics MCQs Practice Test

HAT-UG-GS Statistics MCQs Practice Test

1. In statistics, conducting a survey means
A Collecting information from elements
B Making mathematical calculations
C Drawing graphs and pictures
D None of the above

2. Which branchof statistics deals with the techniques that are used to organize, summarize, and present the data:
B Probability Statistics
C Inferential Statistics
D Descriptive Statistics
E Bayesian Statistics

3. In descriptive statistics, we study
A The description of decision making process
B The methods for organizing, displaying, and describing data
C How to describe the probability distribution
D None of the above

4. In statistics, a population consists of:
A All People living in a country
B All People living in the are under study
C All subjects or objectswhose characteristics are being studied
D None of the above

5. Which one of the following measurement does not divide a set of observationsinto equal parts?
A Quartiles
B Standard Deviations
C Percentiles
D Deciles
E Median

6. Which one is the not measure of dispersion.
A The Range
B 50th Percentile
C Inter-Quartile Range
D Variance

7. Data in the Population Census Report is:
A Grouped data
B Ungrouped data
C Secondary data
D Primary data
E Arrayed data

8. When data are collected in a statistical study for only a portion or subset of all elements of interest we are using:
A A sample
B A Parameter
C A Population
D Both b and c

9. In inferential statistics, we study
A the methods to make decisions about population based on sample results
B how to make decisions about mean, median, or mode
C how a sample is obtained from a population
D None of the above

10. You asked five of your classmates about their height. On the basis of this information, you stated that the average height of all students in your university or college is 67 inches. This is an example of:
A Descriptive statistics
B Inferential Statistics
C Parameter
D Population

11. Statistic is a numerical quantity, which is calculated from:
A Population
B Sample
C Data
D Observations

12. The algebraicsum of deviations from mean is:A Maximum
B Zero
C Minimum
D Undefined

13. In statistics, a sample means
A A portion of the sample
B A portion of the population
C all the items under investigation
D none of the above

14. The height of a student is 60 inches. This is an example of ————–
A Qualitative data
B Categorical data
C Continuous data
D Discrete data

15. Which of the following is not based on all the observations?
A Arithmetic Mean
B Geometric Mean
C Harmonic Mean
D Weighted Mean
E Mode

16. Suppose for 40 observations, the variance is 50. If all the observations are increased by 20, the variance of these increased observation will be
A 50
B 70
C 50/20
D 50-20=30
E 50

17. Variance remains unchanged by change of
A Origin
B Scale
C Both
D None of these

18. The variance of a constant is
A zero
B constant
C a
D None

19. The standard deviation is always _________ than mean deviation
A Greater
B Less
C Equal
D None

20. Lowest value of variance can be
A 1
B -1
C 3
D -3
E 0

21. Mean Deviation, Variance and Standard Deviation of the values 4, 4, 4, 4, 4, 4 is
A 4
B 8
C 2
D 12
E 0

22. The sum of squared deviations of a set of n values from their mean is
A Zero
B Maximum
C Least
D None

23. If Y=5X+10, then mean deviation of Y is
A 5 mean deviation (X)
B 25 mean deviation (X)
C 5 mean deviation (X) + 10
D None of these

24. The measure of dispersion is changed by a change of
A Origin
B Scale
C Algebraic Signs
D None

25. The mean deviation of the values, 18, 12, 15 is
A 6
B zero
C 3
D 2

26. Which of the following statement is true?
(a) The slope coefficient in regression and the correlation coefficient always have the same sign
(b) A regression line always passes through origin
(c) The correlation coefficient can exceed than 1
(d) None of these
27. Testing of hypotheses is a phase to check the validity of:
(a) Population parameter
(b) Sample estimate
(c) Population
(d) None of these
28. Any set of outcomes of a random experiments is called:
(a) Event
(b) Event space
(c) Sample points
(d) None of these
29. When a difference between two groups is statistically significant this means that:
(a) The difference is statistically real but of little practical significance
(b) The difference is probably the result of sampling variation
(c) The difference is not likely to be due to chance variation
(d) None of these
30. Which one is NOT the characteristic of a random experiment:
(a) It has at least two outcomes
(b) The number of all possible outcomes are not known in advance
(c) It can be repeated any number of times under similar conditions
(d) None of these