PUNJAB PUBLIC SERVICE COMMISSION
COMBINED COMPETITIVE EXAMINATION
FOR RECRUITMENT TO THE POSTS OF
PROVINCIAL MANAGEMENT SERVICE, ETC.-2025
CASE NO. 36C2025
SUBJECT: COMMERCE (PAPER-II)
TIME ALLOWED: THREE HOURS
MAXIMUM MARKS: 100
COMBINED COMPETITIVE EXAMINATION
FOR RECRUITMENT TO THE POSTS OF
PROVINCIAL MANAGEMENT SERVICE, ETC.-2025
CASE NO. 36C2025
SUBJECT: COMMERCE (PAPER-II)
TIME ALLOWED: THREE HOURS
MAXIMUM MARKS: 100
NOTE:
i. All the parts (if any) of each Question must be attempted at one place instead of at different places.
ii. Write Q. No. in the Answer Book in accordance with Q. No. in the Q. Paper.
iii. No Page/Space be left blank between the answers. All the blank pages of Answer Book must be crossed.
iv. Extra attempt of any question or any part of the question will not be considered.
i. All the parts (if any) of each Question must be attempted at one place instead of at different places.
ii. Write Q. No. in the Answer Book in accordance with Q. No. in the Q. Paper.
iii. No Page/Space be left blank between the answers. All the blank pages of Answer Book must be crossed.
iv. Extra attempt of any question or any part of the question will not be considered.
Attempt Five Questions in All. Only Non-programmable calculator is allowed.
Q No. 1: What are various economic, social, political, administrative and international problems being faced by the economy of Pakistan?
(20 Marks)
(20 Marks)
Q No. 2: Explain in detail the different steps which the external auditor must consider before commencing a new audit.
(20 Marks)
(20 Marks)
Q No. 3: Explain in detail different theories of capital structure.
(20 Marks)
(20 Marks)
Q No. 4: The Sameer Internationals is considering two mutually exclusive projects. The firm, which has a 12% cost of capital, has estimated its cost and cash flows as shown in the following table.
| Periods | PROJECT A | PROJECT B |
|---|---|---|
| Cost | Net cash inflows | |
| 0 | 130,000 | – |
| 1 | 25,000 | |
| 2 | 35,000 | |
| 3 | 45,000 | |
| 4 | 50,000 | |
| 5 | 55,000 |
(a) Calculate the Discounted Payback Period and Net Present Value of each project.
(b) Evaluate the acceptability of each project using Payback period and NPV. What recommendations would you make relative to implementation of the project? Why?
(15+5=20 Marks)
(b) Evaluate the acceptability of each project using Payback period and NPV. What recommendations would you make relative to implementation of the project? Why?
(15+5=20 Marks)
Q No. 5: Define Islamic financing? Elaborate the different modes of financing provided by Islamic Financial Institutions. Moreover, compare Islamic financing with traditional financing.
(20 Marks)
(20 Marks)
Q No. 6: Discuss the main contribution of Peter Drucker to management philosophy and compare it with contemporary management philosophies by explaining merit/demerits.
(20 Marks)
(20 Marks)
Q No. 7: What is Sales Tax? What is the current percentage of Sales Tax in Pakistan? Explain the salient features of Sales Tax Act in Pakistan.
(20 Marks)
(20 Marks)
Q No. 8: What is risk? Discuss the types of risk in detail. Also, discuss different strategies to mitigate different risks.
(20 Marks)
(20 Marks)
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