Accounting & Finance including Sales Tax on Services – 50 Marks
Q. The effect of writing off bad debts is on which accounts? Answer: Profit & Loss Account and Debtors Account
Q. If a company uses the FIFO method, what does it affect? Answer: Cost of Goods Sold and Inventory Valuation
Q. The acid-test ratio excludes which of the following? Answer: Inventory
Q. Accrued revenue appears in which financial statement? Answer: Balance Sheet as Current Asset
Q. Contingent liabilities are recorded where? Answer: Notes to Accounts
Q. What is the consequence of late filing of a tax return under Punjab Sales Tax on Services Act 2012? Answer: Penalty Rs. 10,000 + Rs. 200 per day after 15 days
Q. Who is liable to pay tax on services received from a foreign non-resident? Answer: Service recipient in Punjab
Q. How does “Reverse Charge Mechanism” protect the government? Answer: Ensures tax collection from recipient if provider is outside Pakistan
Q. Maximum adjustment allowed for input tax per period is: Answer: 90% of output tax
Q. How is “Open Market Price” used in valuation of a taxable service? Answer: When consideration is in kind, between associates, or invoice value is suspected incorrect
Q. Which officers can conduct a Special Audit under the Act? Answer: Chartered Accountants, Cost & Management Accountants, Forensic Experts
Q. Under the Act, a registered person receiving a service from outside Pakistan must: Answer: Deposit full tax via reverse charge
Q. Penalty for failure to produce records after 3 notices: Answer: Presumption that records were never maintained
Q. Short-paid tax is treated as: Answer: Underpayment liable for default surcharge and penalty
Q. Who can revise a tax order suo moto, and within what period? Answer: Commissioner, within 5 years from end of financial year
Q. Tax rate for telecommunication services in Punjab is: Answer: 19.5%
Q. Small hotels (<20 rooms) pay what tax rate? Answer: 5%
Q. Cash payment at restaurants attracts what tax? Answer: 16%
Q. Card / QR / Mobile wallet payment at restaurants attracts: Answer: 5%
Q. Default surcharge for tax fraud is applied at: Answer: 2% per month of tax evaded
Q. Maximum sealing period for business premises under the Act is: Answer: 1 month
Q. Penalty for failure to issue tax invoice (1st default): Answer: Rs. 20,000
Q. Who can conduct a joint audit with FBR? Answer: Punjab Revenue Authority
Q. Deposit of admitted amount is required during: Answer: Appeal filing
Q. Input tax is claimed based on: Answer: Valid tax invoice
Q. Prepaid expenses are: Answer: Expenses paid but not yet incurred
Q. Outstanding expenses are: Answer: Expenses incurred but not yet paid
Q. Acid-test ratio excludes: Answer: Inventory
Q. Depreciation is charged to: Answer: Profit & Loss Account
Part II: General Knowledge
Islamic Studies / Ethics & Urdu
Q . Which country is known as the Land of Prophets? Answer: Palestine
Q . In which AD year was the Holy Prophet (PBUH) born? Answer: 571 AD
Q . What is the concept of God in Guru Nanak’s teachings? Answer: Truth (Ik Onkar)
Q . On 9th Zil Hajj, which Khutba is delivered at Nimrah Mosque? Answer: Second (Khutba-e-Arafat)
Q . About whom was Hazrat Jibraeel (AS) repeatedly urged to show kindness? Answer: Neighbors
Q. Which treaty signed by Prophet Muhammad (SAW) established peace between Muslims and the Quraysh of Makkah? Answer: Treaty of Hudaybiyyah
Q. During which Caliphate was the compilation of the Quran into a single book form completed? Answer: During the Caliphate of Hazrat Uthman (RA)
Q. غالب کا مشہور شعر “دل ہی تو ہے نہ سنگ و خشت، درد سے بھر نہ آئے کیوں” کس صنف میں آتا ہے؟ Answer: غزل
Q. اردو ادب میں “افسانوی ناول” اور “روایتی ناول” میں کیا فرق ہے؟ Answer: افسانوی ناول میں خیالی کردار اور واقعات ہوتے ہیں، جبکہ روایتی ناول میں حقیقی زندگی کی عکاسی ہوتی ہے
Q. اردو محاورہ “اندھیر نگری چوپٹ راجا” کا مطلب کیا ہے؟ Answer: ایسی جگہ جہاں کوئی قانون یا نظام نہ ہو اور سب کچھ انتشار میں ہو
Pakistan Studies , Current Affairs & Geography
Q. The first census (مردم شماری) in Pakistan was conducted in which year? Answer: 1951
Q. Who was the first Muslim Commander-in-Chief of the Pakistan Army? Answer: Field Marshal Ayub Khan
Q. In which year did the 18th Amendment pass, granting provincial autonomy? Answer: 2010
Q. Which mountain range is known as the ‘Roof of the World’? Answer: Pamir Mountains (specifically the plateau)
Q. Pakistan’s coastline length is approximately: Answer: 1,046 km (along the Arabian Sea)
Q. Which city hosted the ‘COP-30’ Climate Summit in 2025? Answer: Belém, Brazil
Q10. Which city is being developed as a Smart City in Pakistan? Answer: Islamabad / Lahore
English
Q. Who is the current Prime Minister of Pakistan (2026)? Answer: Mian Muhammad Shehbaz Sharif
Q. FIFA World Cup 2026 will be hosted by which countries? Answer: USA, Canada, and Mexico
Q. Who is the current Chief Justice of Pakistan (2026)? Answer: Justice Yahya Afridi
Q. What is the meaning of the idiom “To burn the candle at both ends”? Answer: To work excessively hard without enough rest.
Q. What is the antonym of the word “Prosaic”? Answer: Imaginative / Creative.
Q. Which is correct: “Neither of the two candidates (is/are) eligible”? Answer: Neither of the two candidates is eligible.
Q. What is the synonym of “Abnegation”? Answer: Self-denial / Renunciation.
Q. Complete the sentence: “The jury ______ divided in their opinions.” Answer: Were.
Q. Change the voice: “The chef prepared a delicious meal.” Answer: A delicious meal was prepared by the chef.
Q. What figure of speech is used in “The camel is the ship of the desert”? Answer: Metaphor.
Computer Science & Everyday Science
Q. Formatting a disk means? Answer: Dividing disk into tracks and sectors
Q. JPEG stands for? Answer: Joint Photographic Experts Group
Q. CAI stands for? Answer: Computer Assisted Instruction
Q. Shortcut key for Find and Replace? Answer: Ctrl + H
Q. Which protocol is used to securely access and manage a remote server? Answer: SSH (Secure Shell).
Q. What is SQL Injection in cybersecurity? Answer: A vulnerability where malicious code is inserted into input fields to manipulate a database.
Q. Which system converts domain names (like google.com) into IP addresses? Answer: DNS (Domain Name System).
Q. Which vitamin is known as Ascorbic Acid and helps in wound healing? Answer: Vitamin C.
Q. The Richter Scale used for measuring earthquake magnitude is what type of scale? Answer: Logarithmic scale.
Q. Why is carbon dioxide (CO₂) used in fire extinguishers? Answer: Because it is denser than air and does not support combustion, so it smothers the fire.
