PPSC Assistant Director Revenue (BS-17) Past Paper 2023 – Housing Urban Development & Public Health Engineering Department – WASA FDA Faisalabad

In marketing science value is judged by weighing benefits received against sacrifices made across the entire decision journey; total customer value bundles core performance; reliability; design; service access; brand trust; and relationship advantages; total customer cost includes price; time; effort; and psychological stress from uncertainty; buyers prefer offers where perceived gains strongly exceed burdens; firms raise value by improving quality; simplifying onboarding; speeding support; and signaling credibility through warranties; they lower perceived cost by streamlining discovery; reducing learning effort; and de risking trials; consistently managing this trade off strengthens satisfaction; loyalty; and word of mouth which compounds into higher lifetime value and defensible advantage

Capital structure choices balance instruments with fixed claims and instruments with residual claims; debt introduces interest tax shields and can discipline managers yet heightens distress risk when cash flows deteriorate; equity adds flexibility and shock absorption but may dilute control and carry higher required returns; the aim is to minimize weighted average cost of capital while safeguarding liquidity and covenant headroom; practical policy considers cash flow volatility; tangible collateral; market conditions; maturity ladders; and stakeholder expectations; dynamic rebalancing aligns funding with project pipelines; over leverage amplifies losses in downturns whereas over reliance on equity can depress earnings per share and underutilize prudent risk capacity

Breakeven is the activity level where contribution margin exactly covers fixed costs so profit equals zero; contribution equals price minus variable cost per unit multiplied by volume; below this threshold fixed charges exceed margin and losses occur; above it each unit adds directly to operating profit; managers use breakeven analysis to test price moves; cost reductions; and product mix; lowering fixed overheads or raising unit margin shifts the point downward; in multiproduct settings a weighted average contribution is applied; sensitivity checks reveal how small changes in demand; input costs; or discounting can move results across the loss profit boundary and guide corrective action

Inventories and similar circulating items are measured prudently so that carrying amounts do not exceed amounts expected to be realized; firms compute cost using methods such as FIFO or weighted average and compare with net realizable value defined as estimated selling price less completion and selling costs; when market conditions weaken or items are damaged a write down is recognized; this prevents overstated profit and enhances comparability; while some commodity traders may use fair value when active markets exist; mainstream reporting keeps cost based measures with a lower boundary test applied at item; category; or total level according to consistent policy and disclosure

Systematic risk stems from broad macro forces such as growth slowdowns; inflation shocks; interest rate shifts; and geopolitical events; diversification across many securities cannot eliminate these drivers because correlations rise during stress; asset pricing frameworks assign an expected return premium for bearing such non diversifiable exposure; investors manage it through asset allocation; duration positioning; factor tilts; and hedges; yet some exposure remains by design because it is tied to overall opportunity in the economy; understanding this distinction clarifies why even well diversified portfolios can decline together when macro conditions deteriorate and why long horizon discipline is essential

Planning sets direction before resources are committed; it translates mission into clear objectives; evaluates alternatives; chooses strategies; and defines milestones; without plans structure lacks alignment; staffing lacks role clarity; and control lacks standards; effective plans scan environments; assess strengths and gaps; convert goals into budgets; schedules; and key performance indicators; rolling forecasts and scenarios accommodate uncertainty and enable timely pivots; when plans cascade to teams and individuals coordination improves and accountability strengthens; periodic reviews close the loop by learning from variance and updating assumptions so the organization compounds capability over successive cycles

Qualitative inquiry seeks meaning and context rather than numeric frequency; ethnography embeds the researcher in natural settings to observe routines; norms; and interactions over time; it produces thick descriptions and narratives that reveal how participants interpret tasks; services; or policies; the approach is powerful when culture and informal practices shape outcomes; insights often guide product design; service improvement; and theory building; rigor improves with prolonged engagement; triangulation with interviews and artifacts; and reflexive notes; pairing findings with surveys or experiments tests generalizability and converts deep understanding into scalable decisions

In a general partnership partners are jointly and severally liable for obligations; if business assets fall short creditors may pursue personal assets; this simplicity and pass through taxation make the form easy to start but risk exposure is significant; limited partnerships add passive partners with liability capped to contributions while at least one general partner remains fully liable; limited liability partnerships and companies extend protection to active participants; choice among forms balances control preferences; compliance complexity; taxation; capital raising needs; and risk tolerance within the legal framework of the jurisdiction

The arithmetic mean equals the sum of observations divided by the count and acts as a balancing point of the distribution; it is appropriate for additive processes like costs; scores; and yields; its sensitivity to extreme values provides information about overall level yet can be distorted by outliers; analysts therefore pair it with median; trimmed mean; and dispersion measures; geometric and harmonic means suit multiplicative rates or ratios; selecting the right average ensures summaries reflect the data generating mechanism and supports correct comparisons across time; products; or cohorts

Let current assets be CA and current liabilities be CL; the 2 to 1 ratio gives CA equals 2 times CL; working capital equals CA minus CL and is given as 60;000; substitute to get 2CL minus CL equals 60;000 so CL equals 60;000; therefore CA equals 120;000; this linkage between ratios and net working capital helps diagnose solvency; managers adjust receivables; inventory; and payables to meet policy targets; too much liquidity can signal idle funds; too little strains supplier confidence and may raise borrowing costs

Verification integrates audit procedures addressing existence; rights and obligations; and valuation; auditors inspect assets; seek external confirmations; examine titles; recompute amounts; and perform analytical reviews; for inventories they combine counts; cut off tests; and pricing checks; for receivables they corroborate with subsequent cash receipts; for property they assess impairment indicators and depreciation logic; sufficient appropriate evidence across assertions reduces detection risk and supports a reasonable opinion; robust verification also deters misstatement by increasing the likelihood that discrepancies are discovered and corrected before reporting

Consensus reflects a meeting of minds on essential terms; facilitators surface interests; frame options; and iterate proposals that satisfy underlying needs rather than rigid positions; clarity about scope; responsibilities; timelines; and remedies minimizes later conflict; once alignment is reached a contract can formalize commitments; high quality consensus building uses transparent data; explicit trade offs; and fair procedures; it reduces negotiation costs; accelerates execution; and supports durable relationships across supply chains; partnerships; and internal teams

Lenders provide capital on fixed terms and receive interest plus principal but do not share residual profits because they do not bear full operational risk beyond default exposure; after wages; taxes; suppliers; and lenders are paid any surplus accrues to owners who accept volatility; this priority structure explains why equity requires higher expected returns; creditors mitigate downside through covenants; collateral; and monitoring; equity holders diversify and manage risk through portfolio construction; governance; and strategic adaptation

Capital expenditure acquires or improves long lived assets to expand or sustain productive capacity; benefits span multiple periods so costs are capitalized then depreciated or amortized; revenue expenditure supports daily operations and is expensed immediately; correct classification influences profit; taxes; and performance ratios; approval of capital projects requires cash flow forecasts; hurdle rates; and sensitivity analysis; post implementation reviews compare outcomes with proposals to refine governance and sharpen future investment decisions

Conversion cost aggregates direct labor and manufacturing overhead required to transform raw materials into finished goods; supervisor wage forms part of factory overhead because it supports production but cannot be traced to specific units; analyzing conversion costs helps set standards; diagnose variances; and improve pricing; many supervision costs are semi fixed across normal ranges; productivity gains arise from training; line balancing; maintenance discipline; and selective automation that preserves quality while reducing unit time

Unsystematic risk originates from firm specific or industry specific factors such as product recalls; labor disputes; regulatory actions; or management failures; unlike market wide forces it can be mitigated through diversification because shocks to different issuers do not perfectly correlate; as portfolio breadth increases idiosyncratic variance declines and systematic factors dominate; investors control specific risk with research; position sizing; and stop loss rules; concentrated strategies accept higher dispersion and should target commensurately higher expected returns

A job description summarizes duties; responsibilities; reporting lines; working conditions; and competency requirements for a role; it flows from job analysis which gathers information via interviews; observation; and documentation; accurate descriptions support recruiting; selection; training; performance management; and pay benchmarking; they also clarify expectations and reduce disputes; periodic reviews keep roles aligned with evolving technology and processes; combined with job specifications they guide workforce planning and internal mobility decisions

Applied research targets practical problem solving in real contexts; it adapts theory and method to design interventions; test alternatives; and measure impact; examples include optimizing a distribution network; reducing service wait times; or improving credit scoring; strong studies define clear objectives; choose appropriate designs; collect reliable data; and assess cost effectiveness; insights are translated into playbooks; pilots; and scalable changes; by contrast basic research seeks generalized understanding without immediate application; both streams reinforce each other as practice informs theory and theory refines practice

Fiscal policy encompasses decisions on taxation; expenditure; and transfers to influence aggregate demand; employment; and distribution; changing tax rates; bases; or incentives belongs to this toolkit alongside spending adjustments; monetary policy managed by the central bank sets interest rates and liquidity conditions; regulatory policy sets rules for market conduct; coordinated fiscal choices can support stabilization during recessions or cool overheating; design must weigh multipliers; administrative capacity; equity; and debt sustainability; transparent communication improves credibility and private planning

Preferred shares usually pay a stated dividend and rank ahead of common shares for distributions and liquidation proceeds; many issues are cumulative so missed amounts accrue; tradeoffs include limited or no voting rights and capped upside compared with common equity; valuation reflects interest rate levels; issuer credit; call features; and convertibility; for issuers preferred capital can add flexibility without immediate control dilution; for investors it offers income with higher risk than bonds but seniority over common ownership claims

Human Resource Management focuses on acquiring; developing; engaging; and retaining people; key activities include workforce planning; recruitment; selection; onboarding; learning; performance management; compensation; benefits; relations; and compliance; strategic HR aligns talent systems with business goals; builds leadership pipelines; and fosters inclusive cultures that strengthen productivity and innovation; while HR partners with finance and risk teams; its core mandate centers on people processes rather than insurance underwriting or ledger maintenance

Auditing is an independent systematic examination designed to obtain reasonable assurance that financial statements are free from material misstatement whether due to error or fraud; auditors assess risks; evaluate controls; perform substantive tests; and appraise estimates and disclosures; evidence must be sufficient and appropriate; professional skepticism and independence underpin credibility; the resulting opinion enhances trust for investors; lenders; and regulators; auditing differs from accounting which records and prepares statements and from review engagements which provide limited assurance

Variance averages squared deviations from the mean; taking the square root yields standard deviation which restores original measurement units and improves interpretability; it quantifies dispersion; informs risk; and supports control limits; higher values indicate outcomes spread further from the mean; because squaring emphasizes outliers analysts may complement with robust measures such as median absolute deviation when distributions are heavy tailed; clear reporting pairs central tendency with dispersion to avoid misleading summaries

The model links expected excess return to covariance with the market portfolio; beta scales sensitivity to market movements; idiosyncratic noise does not earn a premium because diversification can eliminate it at low cost; practitioners estimate beta from regressions; combine it with a risk free benchmark; and add an equity risk premium inferred from history or markets; the framework guides hurdle rates; valuation; and attribution; multifactor extensions add size; value; profitability; and momentum to capture additional systematic influences

Assets generate cash flows when deployed effectively; profitability rises when firms invest in assets with returns exceeding the cost of capital and manage them productively; tangible assets drive scale and efficiency; intangible assets like brand; data; and software create differentiation and pricing power; working assets support sales but must be optimized to avoid carrying costs; the balance sheet is a report not a source; equity is a claim; disciplined capital allocation and utilization are the true engines of sustained profitability

Extending credit lengthens the cash conversion cycle because receivables remain outstanding longer; capital becomes tied up rather than available for operations or debt reduction; while more generous terms may boost orders; they raise financing cost and default exposure; firms should segment customers by risk; set limits; monitor aging; and use early payment incentives; digitized invoicing; and proactive collection; modeling scenarios for days sales outstanding helps quantify trade offs between growth; liquidity; and credit risk

A bonus issue converts accumulated free reserves into share capital and allocates additional shares to existing holders without cash movement; total equity remains unchanged while reserves fall and paid up capital rises; per share price often adjusts mechanically; motivations include signaling confidence; aligning capital with asset base; and improving liquidity; eligibility of reserves; shareholder approvals; and filings are governed by statute; boards ensure sufficient authorized capital and transparent communication about rationale and impact on future dividend capacity

The International Auditing and Assurance Standards Board develops globally applicable pronouncements for audits; reviews; and assurance engagements using open due process and public oversight; many jurisdictions adopt or adapt these standards to promote quality and comparability; the International Federation of Accountants serves as a global professional organization rather than a standard setter for auditing; Generally Accepted Auditing Standards describe frameworks within specific countries not the authoring body for international standards

Security analysis estimates intrinsic value using fundamentals; growth prospects; and risk; portfolio management combines assets into diversified allocations aligned with objectives; constraints; and risk appetite; the integration recognizes that an attractive security may be unsuitable inside a poorly constructed portfolio; modern practice adds asset allocation; rebalancing rules; and risk budgeting; performance evaluation adjusts for factor exposures; costs; and timing; behavior awareness counters biases such as overconfidence; herding; and loss aversion to protect long run results

Blind advertising withholds the sponsor’s identity to maintain confidentiality or build intrigue; it is used to recruit discreetly; test offers; or pre announce launches; ethical use demands truthful claims and legitimate response channels; once objectives are met organizations typically reveal identity to build trust and convert interest; clear follow up and compliance with disclosure rules protect reputation; analytics should confirm that curiosity translates into qualified leads rather than vanity attention

Probability sampling assigns known non zero selection chances to every unit in the frame; simple random sampling gives equal chances and underpins unbiased estimation with quantifiable sampling error; variants such as stratified; cluster; and systematic sampling retain probabilistic foundations while improving efficiency or practicality; non probability methods risk selection bias and preclude standard error calculation; design choice depends on objectives; frame quality; heterogeneity; and budget; rigorous probability designs enhance credibility of empirical conclusions for policy and management

When a bank collects dividend or interest for a client it acts as an agent under an agency mandate; the principal authorizes tasks such as safekeeping; income collection; and corporate action processing; duties include due care; segregation; accurate reporting; and timely remittance; fees compensate for service and infrastructure; clear mandates; indemnities; and service level agreements reduce operational and legal risk for both parties and support efficient market operations

Commercial banks accept deposits; provide payment services; and intermediate funds through lending and investment; core offerings include operating current and savings accounts; issuing and honoring cheques; processing transfers; collecting instruments; and extending credit to households and firms; risk management spans liquidity; credit; market; and operational exposures; regulatory frameworks require capital adequacy; consumer protection; and anti money laundering controls; digital channels and real time clearing now anchor customer experience and competitive dynamics

The body administers agreements that set ground rules for trade in goods; services; and intellectual property; it offers a forum for negotiation; a dispute settlement mechanism; and surveillance of member policies; its purpose is to improve predictability; transparency; and fairness so producers; exporters; and importers can operate with lower barriers; it evolved from earlier arrangements concluded in a multiyear negotiation that broadened scope and created an institutional framework; commitments vary across members yet rest on principles such as most favored nation and national treatment with defined exceptions

The mean is widely reported because it summarizes overall level and supports algebraic manipulation in models; when distributions are symmetric and outliers limited it is an efficient estimator; for skewed data the median may better reflect a typical observation; the mode captures frequency peaks but can be unstable with continuous data; the range measures spread not center; analysts select measures consistent with distribution shape; decision context; robustness; and communication needs to avoid misleading conclusions

Diversification reduces unsystematic risk by combining assets with imperfect correlations; mixing sectors; geographies; and factors smooths idiosyncratic shocks; it does not guarantee gains nor eliminate market wide declines; beyond a modest number of holdings additional names yield diminishing variance reduction; effective practice focuses on covariance structure; disciplined rebalancing maintains target exposures and captures mean reversion; cost and tax awareness ensures that the risk benefit outweighs frictions so realized outcomes align with design intent

A surplus arises when receipts from taxes; fees; and dividends exceed outlays for programs; transfers; and interest; it reduces borrowing needs and can lower debt ratios; persistent surpluses create fiscal space for future downturns; however chronic surpluses may reflect underinvestment in infrastructure or human capital; frameworks balance stabilization; equity; and sustainability; automatic stabilizers and countercyclical measures smooth cycles while medium term anchors maintain credibility with investors and rating agencies.

Preference shareholders hold an ownership interest but with special rights such as fixed dividends and priority over common shareholders at liquidation; they are not creditors because they do not lend money to the company but own equity instruments; their limited or no voting rights make them a hybrid form between debt and common equity; companies issue preference shares to raise capital without heavily diluting voting control; investors accept lower upside potential in exchange for predictable returns and greater security of payout compared to ordinary shareholders.

Services are not invariable; in fact their performance often varies depending on provider skill; environment; and customer involvement; intangibility means they cannot be physically touched before purchase; perishability means they cannot be stored for later use; and inseparability means they are often produced and consumed simultaneously; variability is a key challenge because it creates inconsistency; managers address this by setting standards; training staff; and using technology; thus option D is the incorrect statement about services.

SWOT divides factors into internal and external; strengths and weaknesses are internal characteristics under the control of the firm; these include resources; culture; capabilities; patents; and processes; opportunities and threats arise externally from competitors; regulation; or market trends; focusing on internal elements allows management to leverage advantages and remedy shortcomings; strong analysis avoids long lists and identifies the most critical factors for competitive success; therefore strengths and weaknesses are the two internal elements of SWOT.

A matrix structure overlays two or more forms of departmentalization such as product and function; employees report to two managers which enhances flexibility and coordination across projects; this design helps organizations balance specialization with responsiveness; it is widely used in multinational firms and project-based industries; challenges include dual authority conflicts and communication overhead; successful matrix structures depend on clear roles; effective leadership; and strong collaboration mechanisms; this type of structure allows optimal use of resources across multiple dimensions.

Companies can return profits through mechanisms besides cash dividends; stock repurchases reduce the number of outstanding shares and often raise earnings per share; bonus shares distribute accumulated reserves to shareholders in the form of additional shares; stock splits increase the number of shares while reducing price per share to enhance liquidity; all these instruments are legitimate ways of distributing value to shareholders; the choice depends on company objectives; tax implications; and regulatory conditions.

Macroeconomics examines the functioning of the entire economy including inflation; unemployment; national income; and growth; growth theory in particular focuses on long-term increases in national output and living standards; it studies the role of capital accumulation; technological progress; and policy in shaping growth paths; factory pricing and individual incomes are microeconomic topics while growth theory is central to macroeconomics; therefore macroeconomics deals primarily with issues such as growth theory.

A joint venture account is a nominal account used to record the expenses and incomes of a temporary partnership between parties for a specific business project; it is closed after profit or loss distribution; nominal accounts record transactions related to income; expense; gains; and losses; joint ventures are dissolved when the project ends and the account helps calculate the net result for distribution; hence it is treated as a nominal account.

Classical economics identifies four main factors of production; land which includes all natural resources; labor which is human effort; capital which is man-made tools and infrastructure; and enterprise which organizes and combines the other three factors while taking risk to produce goods and services; entrepreneurship drives innovation and growth; without enterprise the other factors cannot be efficiently mobilized; investment and machinery are forms of capital not separate fundamental factors.

Social security programs such as pensions; unemployment benefits; and healthcare subsidies redistribute income and reduce inequality; they provide a safety net for vulnerable groups and ensure minimum living standards; while industrial promotion and concessional credit help growth and empowerment; social securities directly address inequality by supplementing incomes of the disadvantaged; governments use them as tools to achieve equitable distribution of wealth and social stability.

The Wealth of Nations published in 1776 was written by Adam Smith and is considered the foundation of modern economics; Smith explained how division of labor increases productivity and how markets coordinate supply and demand through the invisible hand; he also emphasized limited government intervention focusing on defense; justice; and public goods; this book profoundly influenced economic theory and policy worldwide and cemented Adam Smith’s status as the father of economics.

Preference shareholders are equity holders with special rights; they receive fixed dividends before ordinary shareholders and have priority in liquidation; however they usually do not enjoy voting rights; they are not creditors since they provide equity capital not loans; they hold ownership and remain part of the company’s equity base though their control rights are limited compared to common shareholders.

Services are characterized by intangibility; perishability; inseparability and variability; variability means the quality of services can change depending on who provides them and when; therefore it is wrong to claim that services are invariable; service businesses deal with this by standardization; training and technology; intangibility means services cannot be touched before purchase; perishability means they cannot be stored; and inseparability means they are produced and consumed simultaneously.

SWOT divides analysis into internal and external factors; internal factors are strengths and weaknesses which relate to resources; skills; culture; financial capacity and processes; opportunities and threats are external factors beyond company control such as market trends and regulation; managers use strengths to exploit opportunities and address weaknesses to avoid threats; correct diagnosis of strengths and weaknesses helps organizations build competitive advantage.

A matrix structure overlays two dimensions such as product and function; employees report to both a functional and a project manager; this allows flexible use of resources and quick response to market changes; however it can create conflicts and confusion if roles are unclear; success requires good communication; strong leadership and clarity of responsibilities; it is widely used in project-driven and multinational organizations.

Shareholders can receive profits through several methods; cash dividends are most common but companies also distribute value through share buybacks; bonus shares and stock splits; buybacks increase earnings per share; bonus shares increase the number of shares without changing total capital; and stock splits lower share price to increase market liquidity; all are ways of rewarding shareholders depending on company policy and regulation.

Macroeconomics focuses on aggregate variables such as national income; inflation; employment and economic growth; growth theory studies the long-term expansion of output and living standards; it examines how capital accumulation; technological progress and policies affect growth; factory pricing and individual incomes are microeconomic issues; market structures are also micro in nature; hence growth theory lies within the scope of macroeconomics.

A joint venture account records income and expenditure of a temporary partnership; it is a nominal account since it reflects gains and losses from business activity; once the venture is completed the account is closed and balance is distributed among co-venturers; this ensures clear calculation of profit or loss and proper settlement between partners; personal accounts belong to individuals; real accounts relate to assets but joint venture account measures temporary results.

Classical economics identifies four factors of production; land as natural resources; labor as human effort; capital as man-made assets; and enterprise as the entrepreneurial ability to combine resources and bear risks; investment and machinery are forms of capital not separate factors; enterprise plays a vital role in innovation; coordination and profit creation; it drives the productive use of the other three resources.

Social security programs reduce inequality by supporting vulnerable groups through pensions; unemployment benefits; health insurance and subsidies; they ensure a minimum standard of living and narrow income gaps; while industrial promotion and concessional credit help development; social security directly redistributes wealth; effective programs are well-targeted; transparent and sustainable to create fairness and stability in society.

Adam Smith wrote The Wealth of Nations published in 1776; it is considered the foundation of modern economics; Smith explained division of labor; market forces and the invisible hand; he emphasized how free markets allocate resources efficiently while limiting government role to defense; justice and infrastructure; this book influenced economic thought worldwide and earned him the title father of economics.

The zone of tolerance is the gap between customers’ expectations and the minimum acceptable level of service; within this range customers remain satisfied even if service falls slightly short of the ideal; exceeding the upper limit delights customers while falling below the lower limit causes dissatisfaction; understanding the tolerance zone helps managers design standards; train employees and monitor service delivery effectively.

Alfred Marshall introduced the idea of consumer surplus; it represents the difference between what consumers are willing to pay and what they actually pay; graphically it is the area under the demand curve and above the market price; it measures extra benefit consumers gain from purchasing goods at market prices; the concept is important in welfare economics and policy analysis to assess efficiency and the effects of taxes or subsidies.

Multilevel marketing is a distribution strategy where products are sold directly to customers by independent distributors; distributors earn profit both from personal sales and from sales made by people they recruit; it provides flexibility and wide reach but may attract controversy if misused as pyramid schemes; legal and ethical MLMs emphasize real product value and fair compensation for distributors.

Normally demand curves slope downward but exceptional cases exist where demand increases with price; this occurs in Giffen goods or prestige goods; Giffen goods are inferior goods where higher prices reduce purchasing power so people consume more of them; prestige goods include luxury items where higher price signals status and exclusivity; these cases create an upward sloping demand curve which is exceptional.

Authorized share capital also called registered capital is the maximum amount of share capital that a company is legally allowed to issue as specified in its constitutional documents; issued capital is the portion actually issued to shareholders; paid up capital is the amount shareholders have paid; companies may increase authorized capital with approval to issue more shares when required.

Net loss arises when total expenses exceed revenues during a period; it reflects negative profitability; persistent losses erode equity and may threaten business survival; companies facing net loss analyze costs; sales performance; and pricing strategies to restore profitability; corrective actions include cost control; process improvement; or restructuring; net profit occurs when revenues exceed expenses.

Current assets include cash; bank balances; receivables; inventories and other assets expected to be realized within a year; they provide liquidity for daily operations; fixed assets such as buildings and machinery last longer than a year; intangibles are rights like goodwill and patents; investments may be short-term or long-term depending on intent; liquidity ratios use current assets to assess financial health.

The liquid or quick ratio measures the ability to pay short-term obligations without relying on inventory; it is calculated as liquid assets such as cash; bank; receivables and marketable securities divided by current liabilities; a ratio above 1 indicates satisfactory liquidity; too high a ratio may show inefficient use of resources; too low indicates risk of default.

Liabilities represent obligations a business owes to outside parties due to past transactions; they require settlement in the form of cash; goods or services; examples include loans; creditors; taxes payable and accrued expenses; they differ from resources which are assets and from expenses which reduce profit; liabilities are classified as current and non-current depending on due date.

Goods returned by customers are recorded in the returns inward account also called sales returns; it reduces total sales revenue to calculate net sales; recording returns separately helps track quality issues; customer dissatisfaction and policy effectiveness; it is not recorded as expense but as a contra to sales; sales income and sales accounts represent total revenue before adjustments.

The World Bank was originally established as the International Bank for Reconstruction and Development IBRD in 1944; it was created to help rebuild Europe after World War II and later expanded to support development projects worldwide; it provides loans; grants; and technical assistance to reduce poverty and support sustainable growth.

International Women’s Day is observed on 8 March every year to honor women’s achievements in social; economic; cultural and political fields; it also highlights challenges in achieving gender equality; events are organized globally to raise awareness and advocate for women’s rights and empowerment.

Bureaucracy refers to a system of government or organization where officials and administrators make decisions according to established rules and hierarchy; it emphasizes structure; procedure and control; while democracy is rule by the people; gerontocracy by elders; and kakistocracy by the least qualified.

The United States entered World War II after Japan launched a surprise attack on Pearl Harbour on 7 December 1941; the attack destroyed battleships and aircraft and killed thousands of personnel; it led the US to declare war on Japan followed by declarations against Germany and Italy; this marked a turning point in the war.

COP26 the 26th United Nations Climate Change Conference was held in Glasgow Scotland in November 2021 after being delayed from 2020 due to the pandemic; it brought together leaders from around the world to negotiate measures for reducing carbon emissions and limiting global warming under the Paris Agreement framework.

Direct Action Day was observed on 16 August 1946 by the All India Muslim League to demand the creation of Pakistan; it resulted in widespread communal riots especially in Calcutta; the event marked a critical escalation in the movement for partition and influenced the decision to divide British India in 1947.

Mushtaq Ahmad Khan a prominent figure passed away in 2018; his contributions were remembered in literary and political circles; obituaries and tributes highlighted his role in national service.

Roshanet Zafar established the Kashf Foundation in Pakistan; it focuses on providing microfinance and financial inclusion to empower women; it also offers capacity building and training programs; the organization is recognized for improving women’s economic participation and reducing poverty.

Pakistan shares borders with India; Afghanistan; Iran; and China; Russia does not share a land border with Pakistan; the misconception arises because of geographic proximity through Central Asian states but there is no direct border between Pakistan and Russia.

The Partition of Bengal was announced on 16 October 1905 by the British government; it divided Bengal into East Bengal and West Bengal mainly on religious lines; the move was highly opposed by Indian nationalists and later annulled in 1911; it played an important role in mobilizing nationalist sentiments in the independence movement.

Pakistan adopted its first constitution on 23 March 1956 and became the Islamic Republic of Pakistan; before that it functioned as a Dominion under the British Crown after independence in 1947; the Republic status established a parliamentary system and defined Pakistan as a sovereign state.

Taxila located near Islamabad is considered the Pearl of Gandhara Civilization; it was a major center of Buddhist learning; culture; and trade in ancient times; archaeological remains at Taxila are UNESCO World Heritage Sites and include monasteries; stupas; and ancient universities that attracted students from across Asia.

Chlorofluorocarbons are synthetic compounds once used widely in refrigeration and aerosols; when released they rise into the stratosphere where ultraviolet light breaks them down releasing chlorine atoms; each chlorine atom can destroy thousands of ozone molecules; the ozone layer protects Earth from harmful ultraviolet radiation; depletion leads to higher risks of skin cancer; cataracts and ecosystem damage; international agreements like the Montreal Protocol have phased out CFCs and helped global ozone recovery.

Transparent objects allow light to pass completely so that objects behind them are clearly visible; glass; clean water and air are examples; translucent materials like frosted glass allow partial light transmission with blurred images; opaque materials block light completely; understanding these properties is important in optics; design of lenses; and everyday applications like windows and packaging.

Microsoft PowerPoint provides keyboard shortcuts to improve productivity; Ctrl+M inserts a new slide quickly without navigating menus; Ctrl+N opens a new presentation; Ctrl+O opens an existing file and Ctrl+P triggers print dialog; using shortcuts enhances speed during presentations; professionals use them for efficiency in slide design and editing tasks.

Charles Babbage is recognized as the father of the computer; in the 19th century he designed the Analytical Engine a mechanical general-purpose computer concept; though it was never fully built in his lifetime the design included key elements of modern computers such as a control unit and memory; later inventors and scientists expanded his ideas into electronic computers in the 20th century.

The World Wide Web is an information system on the internet where documents and resources are linked through hyperlinks and identified by URLs; it was invented by Tim Berners-Lee in 1989; while many confuse the web with the internet the web is only one service operating on the internet infrastructure; the web revolutionized communication; commerce and knowledge sharing worldwide.

In digital storage 1 Gigabyte equals 1024 Megabytes in binary measurement; each megabyte contains 1024 kilobytes and each kilobyte contains 1024 bytes; while some contexts use decimal values where 1 GB equals 1000 MB binary convention remains common in computer science and operating systems; this distinction explains storage discrepancies between manufacturers and actual system reporting.

In SQL the COUNT keyword returns the number of records that match a specified condition; it is often used in database queries to count rows in a table or distinct entries; SUM adds numerical values but does not count entries; COUNT is vital for data analysis; reporting and validation tasks in relational databases.

Step 1; Stock increased by 2500 profit. Step 2; Building increased by 2500 profit. Step 3; Creditors increased by 1000 loss. Step 4; New liability recorded 2000 loss. Net result equals 2500 plus 2500 minus 1000 minus 2000 equals 2000 profit. Revaluation account shows gain distributed among partners in their profit-sharing ratio.

Step 1; The first five prime numbers are 2; 3; 5; 7; and 11. Step 2; Add them 2 plus 3 equals 5; 5 plus 5 equals 10; 10 plus 7 equals 17; 17 plus 11 equals 28. Step 3; Therefore the sum is 28. Prime numbers are integers greater than 1 with no divisors other than 1 and themselves; they play a fundamental role in number theory and cryptography.

Step 1; Compounding half yearly means two periods per year at 5% each. Step 2; Apply formula A equals P multiplied by (1 plus r/n) raised to n. Step 3; A equals 100000 multiplied by (1 plus 0.10/2) raised to 2. Step 4; Equals 100000 multiplied by (1.05) squared. Step 5; Equals 100000 multiplied by 1.1025 equals 110250. Thus the amount after one year is Rs. 110250.

The phrase cap it all means to bring something to a conclusion or finish an event often used when something unexpected completes a series of incidents; it expresses surprise or finality; for example after a day full of difficulties a sudden storm might cap it all; idioms like this enrich English by conveying meaning figuratively; understanding them aids comprehension in literature and communication.

This is an exclamatory sentence expressing strong feeling; when converting to indirect speech the sense of intensity must be preserved; hence it becomes He exclaimed that it was a very cold day; the word very maintains the emphasis present in the original exclamation; rules of reported speech require adjustment of tense; pronouns and modifiers while retaining intended meaning.

The imperative form in direct speech is reported with verbs such as urge; advise; or request depending on tone; here urged conveys the sense of strong instruction; pronouns are changed appropriately to maintain perspective; correct tense is used since the reporting verb is in the past; thus the proper indirect speech is He urged them to be quiet and listen to his words.

The correct preposition is aimed at; verbs like aim; point; and look are commonly followed by at when indicating direction or target; for example aim at the target; usage of correct prepositions is essential for grammatical accuracy in English; thus He aimed at the flying bird is the correct sentence.

Hallowed means holy; revered or sacred; it refers to something considered highly respected or blessed; for example hallowed ground means land consecrated or held in deep respect; synonyms include sanctified; blessed; holy; and revered; decayed means ruined; historical relates to history and ancient means very old; sacred is the closest synonym.

Jigar Moradabadi a renowned Urdu poet known for his ghazals and literary contributions wrote Shola-e-Toor; his works are recognized for romantic and emotional expression; he holds a prominent place in Urdu poetry.