Capital University of Science and Technology (CUST)

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Associate Degree in Accounting and Finance (ADAF) - Capital University of Science and Technology

Accounting and Finance

Questions

Duration

Passing Score

45%

Negative Marking

—

Exam Questions

Revenue Recognition Principle

Matching Principle

Cost Principle

Going Concern Principle

ExplanationThe matching principle requires that expenses be recognized in the same period as the related revenues to accurately measure profit.

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Debit Office Supplies, Credit Cash

Debit Accounts Payable, Credit Office Supplies

Debit Office Supplies, Credit Accounts Payable

Debit Cash, Credit Office Supplies

ExplanationPurchasing supplies on credit increases assets (Supplies) and increases liabilities (Accounts Payable).

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Historical Cost Principle

Going Concern Principle

Consistency Principle

Full Disclosure Principle

ExplanationThe Going Concern Principle assumes a business will operate indefinitely, allowing assets to be recorded at cost rather than liquidation value.

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Materiality Principle

Revenue Recognition Principle

Objectivity Principle

Prudence Principle

ExplanationMateriality allows accountants to ignore strictly rigorous accounting for insignificant amounts if it does not mislead stakeholders.

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When the cash is received from the customer

When the performance obligation is satisfied

When the invoice is printed

At the end of the fiscal year

ExplanationRevenue recognition under accrual accounting occurs when control of goods or services is transferred to the customer, regardless of cash timing.

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Income Statement

Cash Flow Statement

Balance Sheet

Statement of Retained Earnings

ExplanationThe Balance Sheet reports assets, liabilities, and equity at a single specific date.

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Substance over form

Consistency principle

Full disclosure principle

Historical cost principle

ExplanationThis principle ensures that the accounting treatment reflects the reality of the transaction, even if the legal structure suggests otherwise.

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Objectivity

Consistency

Revenue recognition

Conservatism

ExplanationThe consistency principle requires that once an accounting method is chosen, it should be followed consistently across periods to allow for comparability.

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Prudence (Conservatism)

Matching

Economic Entity

Monetary Unit

ExplanationThe prudence principle dictates that when uncertainty exists, one should choose the option that does not overstate assets or income.

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Business entity assumption

Periodicity assumption

Going concern assumption

Accrual assumption

ExplanationThe going concern assumption posits that the business will continue its operations indefinitely, justifying the valuation of assets at historical cost.

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Associate Degree in Accounting and Finance (ADAF) - Capital University of Science and Technology paper pattern infographic: subject-wise question distribution across 51 MCQs, 1h duration — Associate Degree in Accounting and Finance (ADAF) - Capital University of Science and Technology — subject-wise question distribution, per the official syllabus

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Associate Degree in Accounting and Finance (ADAF) - Capital University of Science and Technology — Frequently Asked Questions

How many questions are in the Associate Degree in Accounting and Finance (ADAF) - Capital University of Science and Technology practice test?

This practice test currently has 51 MCQs, and every question includes the correct answer with an explanation.

How long is the Associate Degree in Accounting and Finance (ADAF) - Capital University of Science and Technology mock test?

The full mock runs for 1h under real exam timing, just like the actual paper.

Is there negative marking in this test?

No negative marking is applied in this practice test. The rule for the real exam is announced in the official advertisement.

What score do I need to pass?

The passing score in this simulation is 45%, but for competitive merit you should aim well above it.

Is Associate Degree in Accounting and Finance (ADAF) - Capital University of Science and Technology preparation free on PrepPro?

Yes — the questions, explanations and full timed mock test are all free. You can start practising right from this page.

How do I prepare for Associate Degree in Accounting and Finance (ADAF) - Capital University of Science and Technology online?

Practise the syllabus-based MCQs, then sit the full timed mock test and use your result analytics to find and repeat weak topics — all of it starts free from this page.

Can I retake the Associate Degree in Accounting and Finance (ADAF) - Capital University of Science and Technology mock test?

Yes — you can retake the mock test as many times as you like; every attempt is saved separately in your history so you can track your improvement.

Is the Associate Degree in Accounting and Finance (ADAF) - Capital University of Science and Technology mock test available in Urdu?

Yes — this entire page has an Urdu mirror under /ur, and the preparation content is available in both English and Urdu.

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