Current liabilities in accounting refers to

obligations due within one year

Operating expenses in accounting refers to

expenses from normal business operations

Government Accounting Pakistan MCQs 2026

80 questions with detailed answers · 30 from past papers · 8 quiz batches available

📚 Accounting Mcqs 📄 30 Past-Paper Qs ✓ Free · No Login Needed

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Page 1 of 1 Questions 1–10 of 80

Q1 medium

Trading account 46: net sales Rs 1,625,000, gross profit Rs 406,250. Cost of goods sold equals
1. A Rs 1,625,000
2. B Rs 406,250
3. C Rs 2,031,250
4. D Rs 1,218,750
💡 Explanation:
COGS = Sales − Gross profit.
Q2 medium

Trading account 31: net sales Rs 1,250,000, gross profit Rs 312,500. Cost of goods sold equals
1. A Rs 1,250,000
2. B Rs 937,500
3. C Rs 312,500
4. D Rs 1,562,500
💡 Explanation:
COGS = Sales − Gross profit.
Q3 Past Paper · PPSC/FPSC/NTS easy

Current liabilities in accounting refers to
1. A distribution of profit to reserves and dividends
2. B obligations due within one year
3. C statement showing indirect expenses and net profit
4. D profit after all expenses including finance costs
💡 Explanation:
current liabilities is a core 12 concept for PPSC/FPSC/NTS exams.
Q4 medium

Operating expenses in accounting refers to
1. A statement showing buying, selling and gross profit
2. B sales minus cost of goods sold
3. C statement of financial position at a date
4. D expenses from normal business operations
💡 Explanation:
operating expenses is a core 12 concept for PPSC/FPSC/NTS exams.
Q5 medium

Trading account 27: net sales Rs 1,150,000, gross profit Rs 310,500. Cost of goods sold equals
1. A Rs 1,150,000
2. B Rs 839,500
3. C Rs 310,500
4. D Rs 1,460,500
💡 Explanation:
COGS = Sales − Gross profit.
Q6 Past Paper · PPSC/FPSC/NTS medium

Trading account 28: net sales Rs 1,175,000, gross profit Rs 340,750. Cost of goods sold equals
1. A Rs 834,250
2. B Rs 1,175,000
3. C Rs 340,750
4. D Rs 1,515,750
💡 Explanation:
COGS = Sales − Gross profit.
Q7 medium

Trading account 29: net sales Rs 1,200,000, gross profit Rs 372,000. Cost of goods sold equals
1. A Rs 1,200,000
2. B Rs 828,000
3. C Rs 372,000
4. D Rs 1,572,000
💡 Explanation:
COGS = Sales − Gross profit.
Q8 Past Paper · PPSC/FPSC/NTS easy

Trading account in accounting refers to
1. A profit after all expenses including finance costs
2. B statement showing buying, selling and gross profit
3. C assets expected to be realized within one year
4. D expenses from normal business operations
💡 Explanation:
trading account is a core 12 concept for PPSC/FPSC/NTS exams.
Q9 medium

Profit and loss account in accounting refers to
1. A statement of financial position at a date
2. B obligations due within one year
3. C direct cost of inventory sold
4. D statement showing indirect expenses and net profit
💡 Explanation:
profit and loss account is a core 12 concept for PPSC/FPSC/NTS exams.
Q10 Past Paper · PPSC/FPSC/NTS hard

Gross profit in accounting refers to
1. A assets expected to be realized within one year
2. B expenses from normal business operations
3. C sales minus cost of goods sold
4. D distribution of profit to reserves and dividends
💡 Explanation:
gross profit is a core 12 concept for PPSC/FPSC/NTS exams.
Q11 easy

Net profit in accounting refers to
1. A obligations due within one year
2. B direct cost of inventory sold
3. C statement showing buying, selling and gross profit
4. D profit after all expenses including finance costs
💡 Explanation:
net profit is a core 12 concept for PPSC/FPSC/NTS exams.
Q12 Past Paper · PPSC/FPSC/NTS medium

Balance sheet in accounting refers to
1. A expenses from normal business operations
2. B distribution of profit to reserves and dividends
3. C statement showing indirect expenses and net profit
4. D statement of financial position at a date
💡 Explanation:
balance sheet is a core 12 concept for PPSC/FPSC/NTS exams.
Q13 hard

Current assets in accounting refers to
1. A direct cost of inventory sold
2. B assets expected to be realized within one year
3. C statement showing buying, selling and gross profit
4. D sales minus cost of goods sold
💡 Explanation:
current assets is a core 12 concept for PPSC/FPSC/NTS exams.
Q14 Past Paper · PPSC/FPSC/NTS medium

Trading account 30: net sales Rs 1,225,000, gross profit Rs 404,250. Cost of goods sold equals
1. A Rs 820,750
2. B Rs 1,225,000
3. C Rs 404,250
4. D Rs 1,629,250
💡 Explanation:
COGS = Sales − Gross profit.
Q15 Past Paper · PPSC/FPSC/NTS hard

Cost of goods sold in accounting refers to
1. A statement showing indirect expenses and net profit
2. B profit after all expenses including finance costs
3. C assets expected to be realized within one year
4. D direct cost of inventory sold
💡 Explanation:
cost of goods sold is a core 12 concept for PPSC/FPSC/NTS exams.
Q16 easy

Appropriation account in accounting refers to
1. A sales minus cost of goods sold
2. B statement of financial position at a date
3. C distribution of profit to reserves and dividends
4. D obligations due within one year
💡 Explanation:
appropriation account is a core 12 concept for PPSC/FPSC/NTS exams.
Q17 medium

Trading account 1: net sales Rs 500,000, gross profit Rs 125,000. Cost of goods sold equals
1. A Rs 500,000
2. B Rs 375,000
3. C Rs 125,000
4. D Rs 625,000
💡 Explanation:
COGS = Sales − Gross profit.
Q18 Past Paper · PPSC/FPSC/NTS medium

Trading account 2: net sales Rs 525,000, gross profit Rs 141,750. Cost of goods sold equals
1. A Rs 525,000
2. B Rs 383,250
3. C Rs 141,750
4. D Rs 666,750
💡 Explanation:
COGS = Sales − Gross profit.
Q19 medium

Trading account 3: net sales Rs 550,000, gross profit Rs 159,500. Cost of goods sold equals
1. A Rs 390,500
2. B Rs 550,000
3. C Rs 159,500
4. D Rs 709,500
💡 Explanation:
COGS = Sales − Gross profit.
Q20 medium

Trading account 4: net sales Rs 575,000, gross profit Rs 178,250. Cost of goods sold equals
1. A Rs 575,000
2. B Rs 178,250
3. C Rs 753,250
4. D Rs 396,750
💡 Explanation:
COGS = Sales − Gross profit.
Q21 Past Paper · PPSC/FPSC/NTS medium

Trading account 5: net sales Rs 600,000, gross profit Rs 198,000. Cost of goods sold equals
1. A Rs 600,000
2. B Rs 198,000
3. C Rs 798,000
4. D Rs 402,000
💡 Explanation:
COGS = Sales − Gross profit.
Q22 medium

Trading account 6: net sales Rs 625,000, gross profit Rs 156,250. Cost of goods sold equals
1. A Rs 468,750
2. B Rs 625,000
3. C Rs 156,250
4. D Rs 781,250
💡 Explanation:
COGS = Sales − Gross profit.
Q23 medium

Trading account 7: net sales Rs 650,000, gross profit Rs 175,500. Cost of goods sold equals
1. A Rs 650,000
2. B Rs 474,500
3. C Rs 175,500
4. D Rs 825,500
💡 Explanation:
COGS = Sales − Gross profit.
Q24 Past Paper · PPSC/FPSC/NTS medium

Trading account 8: net sales Rs 675,000, gross profit Rs 195,750. Cost of goods sold equals
1. A Rs 479,250
2. B Rs 675,000
3. C Rs 195,750
4. D Rs 870,750
💡 Explanation:
COGS = Sales − Gross profit.
Q25 medium

Trading account 9: net sales Rs 700,000, gross profit Rs 217,000. Cost of goods sold equals
1. A Rs 700,000
2. B Rs 217,000
3. C Rs 917,000
4. D Rs 483,000
💡 Explanation:
COGS = Sales − Gross profit.
Q26 Past Paper · PPSC/FPSC/NTS medium

Trading account 10: net sales Rs 725,000, gross profit Rs 239,250. Cost of goods sold equals
1. A Rs 485,750
2. B Rs 725,000
3. C Rs 239,250
4. D Rs 964,250
💡 Explanation:
COGS = Sales − Gross profit.
Q27 medium

Trading account 11: net sales Rs 750,000, gross profit Rs 187,500. Cost of goods sold equals
1. A Rs 750,000
2. B Rs 187,500
3. C Rs 562,500
4. D Rs 937,500
💡 Explanation:
COGS = Sales − Gross profit.
Q28 medium

Trading account 12: net sales Rs 775,000, gross profit Rs 209,250. Cost of goods sold equals
1. A Rs 565,750
2. B Rs 775,000
3. C Rs 209,250
4. D Rs 984,250
💡 Explanation:
COGS = Sales − Gross profit.
Q29 Past Paper · PPSC/FPSC/NTS medium

Trading account 13: net sales Rs 800,000, gross profit Rs 232,000. Cost of goods sold equals
1. A Rs 800,000
2. B Rs 232,000
3. C Rs 1,032,000
4. D Rs 568,000
💡 Explanation:
COGS = Sales − Gross profit.
Q30 medium

Trading account 14: net sales Rs 825,000, gross profit Rs 255,750. Cost of goods sold equals
1. A Rs 825,000
2. B Rs 569,250
3. C Rs 255,750
4. D Rs 1,080,750
💡 Explanation:
COGS = Sales − Gross profit.
Q31 medium

Trading account 15: net sales Rs 850,000, gross profit Rs 280,500. Cost of goods sold equals
1. A Rs 850,000
2. B Rs 280,500
3. C Rs 569,500
4. D Rs 1,130,500
💡 Explanation:
COGS = Sales − Gross profit.
Q32 Past Paper · PPSC/FPSC/NTS medium

Trading account 16: net sales Rs 875,000, gross profit Rs 218,750. Cost of goods sold equals
1. A Rs 875,000
2. B Rs 656,250
3. C Rs 218,750
4. D Rs 1,093,750
💡 Explanation:
COGS = Sales − Gross profit.
Q33 medium

Trading account 17: net sales Rs 900,000, gross profit Rs 243,000. Cost of goods sold equals
1. A Rs 900,000
2. B Rs 243,000
3. C Rs 657,000
4. D Rs 1,143,000
💡 Explanation:
COGS = Sales − Gross profit.
Q34 medium

Trading account 18: net sales Rs 925,000, gross profit Rs 268,250. Cost of goods sold equals
1. A Rs 925,000
2. B Rs 656,750
3. C Rs 268,250
4. D Rs 1,193,250
💡 Explanation:
COGS = Sales − Gross profit.
Q35 Past Paper · PPSC/FPSC/NTS medium

Trading account 19: net sales Rs 950,000, gross profit Rs 294,500. Cost of goods sold equals
1. A Rs 950,000
2. B Rs 294,500
3. C Rs 1,244,500
4. D Rs 655,500
💡 Explanation:
COGS = Sales − Gross profit.
Q36 medium

Trading account 20: net sales Rs 975,000, gross profit Rs 321,750. Cost of goods sold equals
1. A Rs 653,250
2. B Rs 975,000
3. C Rs 321,750
4. D Rs 1,296,750
💡 Explanation:
COGS = Sales − Gross profit.
Q37 medium

Trading account 21: net sales Rs 1,000,000, gross profit Rs 250,000. Cost of goods sold equals
1. A Rs 1,000,000
2. B Rs 250,000
3. C Rs 1,250,000
4. D Rs 750,000
💡 Explanation:
COGS = Sales − Gross profit.
Q38 Past Paper · PPSC/FPSC/NTS medium

Trading account 22: net sales Rs 1,025,000, gross profit Rs 276,750. Cost of goods sold equals
1. A Rs 1,025,000
2. B Rs 748,250
3. C Rs 276,750
4. D Rs 1,301,750
💡 Explanation:
COGS = Sales − Gross profit.
Q39 medium

Trading account 23: net sales Rs 1,050,000, gross profit Rs 304,500. Cost of goods sold equals
1. A Rs 1,050,000
2. B Rs 745,500
3. C Rs 304,500
4. D Rs 1,354,500
💡 Explanation:
COGS = Sales − Gross profit.
Q40 medium

Trading account 24: net sales Rs 1,075,000, gross profit Rs 333,250. Cost of goods sold equals
1. A Rs 1,075,000
2. B Rs 333,250
3. C Rs 1,408,250
4. D Rs 741,750
💡 Explanation:
COGS = Sales − Gross profit.
Q41 Past Paper · PPSC/FPSC/NTS medium

Trading account 25: net sales Rs 1,100,000, gross profit Rs 363,000. Cost of goods sold equals
1. A Rs 1,100,000
2. B Rs 363,000
3. C Rs 1,463,000
4. D Rs 737,000
💡 Explanation:
COGS = Sales − Gross profit.
Q42 medium

Trading account 26: net sales Rs 1,125,000, gross profit Rs 281,250. Cost of goods sold equals
1. A Rs 1,125,000
2. B Rs 281,250
3. C Rs 843,750
4. D Rs 1,406,250
💡 Explanation:
COGS = Sales − Gross profit.
Q43 medium

Trading account 32: net sales Rs 1,275,000, gross profit Rs 344,250. Cost of goods sold equals
1. A Rs 930,750
2. B Rs 1,275,000
3. C Rs 344,250
4. D Rs 1,619,250
💡 Explanation:
COGS = Sales − Gross profit.
Q44 Past Paper · PPSC/FPSC/NTS medium

Trading account 33: net sales Rs 1,300,000, gross profit Rs 377,000. Cost of goods sold equals
1. A Rs 1,300,000
2. B Rs 377,000
3. C Rs 923,000
4. D Rs 1,677,000
💡 Explanation:
COGS = Sales − Gross profit.
Q45 medium

Trading account 34: net sales Rs 1,325,000, gross profit Rs 410,750. Cost of goods sold equals
1. A Rs 1,325,000
2. B Rs 410,750
3. C Rs 1,735,750
4. D Rs 914,250
💡 Explanation:
COGS = Sales − Gross profit.
Q46 medium

Trading account 35: net sales Rs 1,350,000, gross profit Rs 445,500. Cost of goods sold equals
1. A Rs 1,350,000
2. B Rs 445,500
3. C Rs 904,500
4. D Rs 1,795,500
💡 Explanation:
COGS = Sales − Gross profit.
Q47 Past Paper · PPSC/FPSC/NTS medium

Trading account 36: net sales Rs 1,375,000, gross profit Rs 343,750. Cost of goods sold equals
1. A Rs 1,031,250
2. B Rs 1,375,000
3. C Rs 343,750
4. D Rs 1,718,750
💡 Explanation:
COGS = Sales − Gross profit.
Q48 medium

Trading account 37: net sales Rs 1,400,000, gross profit Rs 378,000. Cost of goods sold equals
1. A Rs 1,400,000
2. B Rs 1,022,000
3. C Rs 378,000
4. D Rs 1,778,000
💡 Explanation:
COGS = Sales − Gross profit.
Q49 medium

Trading account 38: net sales Rs 1,425,000, gross profit Rs 413,250. Cost of goods sold equals
1. A Rs 1,011,750
2. B Rs 1,425,000
3. C Rs 413,250
4. D Rs 1,838,250
💡 Explanation:
COGS = Sales − Gross profit.
Q50 Past Paper · PPSC/FPSC/NTS medium

Trading account 39: net sales Rs 1,450,000, gross profit Rs 449,500. Cost of goods sold equals
1. A Rs 1,450,000
2. B Rs 449,500
3. C Rs 1,000,500
4. D Rs 1,899,500
💡 Explanation:
COGS = Sales − Gross profit.
Q51 medium

Trading account 40: net sales Rs 1,475,000, gross profit Rs 486,750. Cost of goods sold equals
1. A Rs 988,250
2. B Rs 1,475,000
3. C Rs 486,750
4. D Rs 1,961,750
💡 Explanation:
COGS = Sales − Gross profit.
Q52 medium

Trading account 41: net sales Rs 1,500,000, gross profit Rs 375,000. Cost of goods sold equals
1. A Rs 1,500,000
2. B Rs 375,000
3. C Rs 1,125,000
4. D Rs 1,875,000
💡 Explanation:
COGS = Sales − Gross profit.
Q53 Past Paper · PPSC/FPSC/NTS medium

Trading account 42: net sales Rs 1,525,000, gross profit Rs 411,750. Cost of goods sold equals
1. A Rs 1,525,000
2. B Rs 1,113,250
3. C Rs 411,750
4. D Rs 1,936,750
💡 Explanation:
COGS = Sales − Gross profit.
Q54 medium

Trading account 43: net sales Rs 1,550,000, gross profit Rs 449,500. Cost of goods sold equals
1. A Rs 1,550,000
2. B Rs 1,100,500
3. C Rs 449,500
4. D Rs 1,999,500
💡 Explanation:
COGS = Sales − Gross profit.
Q55 medium

Trading account 44: net sales Rs 1,575,000, gross profit Rs 488,250. Cost of goods sold equals
1. A Rs 1,086,750
2. B Rs 1,575,000
3. C Rs 488,250
4. D Rs 2,063,250
💡 Explanation:
COGS = Sales − Gross profit.
Q56 Past Paper · PPSC/FPSC/NTS medium

Trading account 45: net sales Rs 1,600,000, gross profit Rs 528,000. Cost of goods sold equals
1. A Rs 1,072,000
2. B Rs 1,600,000
3. C Rs 528,000
4. D Rs 2,128,000
💡 Explanation:
COGS = Sales − Gross profit.
Q57 medium

Trading account 47: net sales Rs 1,650,000, gross profit Rs 445,500. Cost of goods sold equals
1. A Rs 1,650,000
2. B Rs 445,500
3. C Rs 1,204,500
4. D Rs 2,095,500
💡 Explanation:
COGS = Sales − Gross profit.
Q58 Past Paper · PPSC/FPSC/NTS medium

Trading account 48: net sales Rs 1,675,000, gross profit Rs 485,750. Cost of goods sold equals
1. A Rs 1,675,000
2. B Rs 485,750
3. C Rs 2,160,750
4. D Rs 1,189,250
💡 Explanation:
COGS = Sales − Gross profit.
Q59 medium

Trading account 49: net sales Rs 1,700,000, gross profit Rs 527,000. Cost of goods sold equals
1. A Rs 1,700,000
2. B Rs 1,173,000
3. C Rs 527,000
4. D Rs 2,227,000
💡 Explanation:
COGS = Sales − Gross profit.
Q60 Past Paper · PPSC/FPSC/NTS medium

Trading account 50: net sales Rs 1,725,000, gross profit Rs 569,250. Cost of goods sold equals
1. A Rs 1,155,750
2. B Rs 1,725,000
3. C Rs 569,250
4. D Rs 2,294,250
💡 Explanation:
COGS = Sales − Gross profit.
Q61 medium

Trading account 51: net sales Rs 1,750,000, gross profit Rs 437,500. Cost of goods sold equals
1. A Rs 1,750,000
2. B Rs 437,500
3. C Rs 1,312,500
4. D Rs 2,187,500
💡 Explanation:
COGS = Sales − Gross profit.
Q62 medium

Trading account 52: net sales Rs 1,775,000, gross profit Rs 479,250. Cost of goods sold equals
1. A Rs 1,775,000
2. B Rs 479,250
3. C Rs 1,295,750
4. D Rs 2,254,250
💡 Explanation:
COGS = Sales − Gross profit.
Q63 Past Paper · PPSC/FPSC/NTS medium

Trading account 53: net sales Rs 1,800,000, gross profit Rs 522,000. Cost of goods sold equals
1. A Rs 1,800,000
2. B Rs 522,000
3. C Rs 2,322,000
4. D Rs 1,278,000
💡 Explanation:
COGS = Sales − Gross profit.
Q64 medium

Trading account 54: net sales Rs 1,825,000, gross profit Rs 565,750. Cost of goods sold equals
1. A Rs 1,825,000
2. B Rs 565,750
3. C Rs 1,259,250
4. D Rs 2,390,750
💡 Explanation:
COGS = Sales − Gross profit.
Q65 medium

Trading account 55: net sales Rs 1,850,000, gross profit Rs 610,500. Cost of goods sold equals
1. A Rs 1,239,500
2. B Rs 1,850,000
3. C Rs 610,500
4. D Rs 2,460,500
💡 Explanation:
COGS = Sales − Gross profit.
Q66 Past Paper · PPSC/FPSC/NTS medium

Trading account 56: net sales Rs 1,875,000, gross profit Rs 468,750. Cost of goods sold equals
1. A Rs 1,875,000
2. B Rs 468,750
3. C Rs 2,343,750
4. D Rs 1,406,250
💡 Explanation:
COGS = Sales − Gross profit.
Q67 medium

Trading account 57: net sales Rs 1,900,000, gross profit Rs 513,000. Cost of goods sold equals
1. A Rs 1,387,000
2. B Rs 1,900,000
3. C Rs 513,000
4. D Rs 2,413,000
💡 Explanation:
COGS = Sales − Gross profit.
Q68 medium

Trading account 58: net sales Rs 1,925,000, gross profit Rs 558,250. Cost of goods sold equals
1. A Rs 1,366,750
2. B Rs 1,925,000
3. C Rs 558,250
4. D Rs 2,483,250
💡 Explanation:
COGS = Sales − Gross profit.
Q69 Past Paper · PPSC/FPSC/NTS medium

Trading account 59: net sales Rs 1,950,000, gross profit Rs 604,500. Cost of goods sold equals
1. A Rs 1,950,000
2. B Rs 1,345,500
3. C Rs 604,500
4. D Rs 2,554,500
💡 Explanation:
COGS = Sales − Gross profit.
Q70 medium

Trading account 60: net sales Rs 1,975,000, gross profit Rs 651,750. Cost of goods sold equals
1. A Rs 1,975,000
2. B Rs 651,750
3. C Rs 1,323,250
4. D Rs 2,626,750
💡 Explanation:
COGS = Sales − Gross profit.
Q71 medium

Trading account 61: net sales Rs 2,000,000, gross profit Rs 500,000. Cost of goods sold equals
1. A Rs 2,000,000
2. B Rs 500,000
3. C Rs 2,500,000
4. D Rs 1,500,000
💡 Explanation:
COGS = Sales − Gross profit.
Q72 Past Paper · PPSC/FPSC/NTS medium

Trading account 62: net sales Rs 2,025,000, gross profit Rs 546,750. Cost of goods sold equals
1. A Rs 2,025,000
2. B Rs 546,750
3. C Rs 1,478,250
4. D Rs 2,571,750
💡 Explanation:
COGS = Sales − Gross profit.
Q73 medium

Trading account 63: net sales Rs 2,050,000, gross profit Rs 594,500. Cost of goods sold equals
1. A Rs 1,455,500
2. B Rs 2,050,000
3. C Rs 594,500
4. D Rs 2,644,500
💡 Explanation:
COGS = Sales − Gross profit.
Q74 medium

Trading account 64: net sales Rs 2,075,000, gross profit Rs 643,250. Cost of goods sold equals
1. A Rs 2,075,000
2. B Rs 1,431,750
3. C Rs 643,250
4. D Rs 2,718,250
💡 Explanation:
COGS = Sales − Gross profit.
Q75 Past Paper · PPSC/FPSC/NTS medium

Trading account 65: net sales Rs 2,100,000, gross profit Rs 693,000. Cost of goods sold equals
1. A Rs 2,100,000
2. B Rs 693,000
3. C Rs 1,407,000
4. D Rs 2,793,000
💡 Explanation:
COGS = Sales − Gross profit.
Q76 medium

Trading account 66: net sales Rs 2,125,000, gross profit Rs 531,250. Cost of goods sold equals
1. A Rs 2,125,000
2. B Rs 531,250
3. C Rs 1,593,750
4. D Rs 2,656,250
💡 Explanation:
COGS = Sales − Gross profit.
Q77 medium

Trading account 67: net sales Rs 2,150,000, gross profit Rs 580,500. Cost of goods sold equals
1. A Rs 2,150,000
2. B Rs 580,500
3. C Rs 2,730,500
4. D Rs 1,569,500
💡 Explanation:
COGS = Sales − Gross profit.
Q78 Past Paper · PPSC/FPSC/NTS medium

Trading account 68: net sales Rs 2,175,000, gross profit Rs 630,750. Cost of goods sold equals
1. A Rs 2,175,000
2. B Rs 630,750
3. C Rs 1,544,250
4. D Rs 2,805,750
💡 Explanation:
COGS = Sales − Gross profit.
Q79 medium

Trading account 69: net sales Rs 2,200,000, gross profit Rs 682,000. Cost of goods sold equals
1. A Rs 1,518,000
2. B Rs 2,200,000
3. C Rs 682,000
4. D Rs 2,882,000
💡 Explanation:
COGS = Sales − Gross profit.
Q80 Past Paper · PPSC/FPSC/NTS medium

Trading account 70: net sales Rs 2,225,000, gross profit Rs 734,250. Cost of goods sold equals
1. A Rs 2,225,000
2. B Rs 734,250
3. C Rs 1,490,750
4. D Rs 2,959,250
💡 Explanation:
COGS = Sales − Gross profit.

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Government Accounting Pakistan MCQs 2026

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