Riaz Ahmed Saqib Gohar (Lahore) Test Feedback 08-May-2023

Riaz Ahmed Saqib Gohar & Co.(Lahore Office- 8 May, 2023 at 10 AM)
time allowed:30 minutes
30 marks, 29 MCQs

Questions from CAF Subjects(Basic-Medium difficulty + basic maths + analysis(patterns of diagrams)

Basic questions
1) Simple Multiplication, Subtraction
2)What comes next in series
3) English sentence-pen is to education so fork is to?
Etc..

Tax
1)Exported supplies in which schedule?
2)who doesn't have to file return: Non-profit organisation or A person(other than company) who has amount less than that is chargeable to tax..
3)local supplies from cottage industry are: exempt, taxable or zero-rated?
+ Similar-type of questions..
C-LAW
1)Private company definition
2)A private company with 500 Million(M) capital, 900 M revenue and like 1,200 employees, is it a large, medium or small-sized entity?
3) Appointment of Chairman and Chief executive, when & who appoints?
4) Memorandum includes Name clause, how to alter it?(ordinary or special resolution & time for notice?)
5)Which clause cannot be altered (during lifetime of company) Subscription or name clause?
FAR 1 & 2
1) Basic questions from Deferred tax (like what doesn't come under deferred tax?(i chose Unused tax losses))
2)1 IFRS-15 Question, to allocate transaction price to three products:A,B & C
3)Debt investment under amortized cost has to pass to tests, one is cashflow test & other is: business model test or amortized cost or fair value test?
Audit
1) Review is what type of assurance?(negative form, positive, no assurance or high level?)
2) Subsequent auditors appointed by whom and where?(by members in AGM)