Explanation

Intangible assets are long-term assets that do not have a physical form but hold value, like patents or trademarks.

They provide future economic benefits to a business without physical existence.

Explanation

Badr-1 was Pakistan's first indigenously built artificial satellite, launched on 16 July 1990.

Dr. Salim Mehmud led the development team as the technical director.

Dr. Muhammad Riaz Suddle served as the project manager.

Explanation

A Sales Journal is a specialized accounting journal used to record all credit sales of goods.

It helps in organizing sales transactions systematically before posting them to the ledger.

Explanation

A fresco is a technique of mural painting done with watercolors on freshly applied plaster, usually on walls or ceilings.

It was commonly used in Renaissance art.

It differs from other forms by its application on wet plaster.

Explanation

Demand in economics refers not just to desire, but to the ability and willingness to purchase at given prices.

It includes a time element and is dependent on price variations.

Explanation

Two persons of Pakistani origin have received the Nobel Prize: Abdus Salam (Physics, 1979) and Malala Yousafzai (Peace, 2014).

Abdus Salam was recognized for his work in theoretical physics, while Malala was honored for her activism in girls' education.

Explanation

Cash account is an asset and all assets have a debit normal balance.

Therefore, it appears on the debit side of the trial balance.

Explanation

Stock taking is a physical count and valuation of inventory at the end of the financial year.

It provides an accurate measure of closing stock, essential for preparing final accounts.

Explanation

Financial asset valuation is primarily based on the present value of expected future cash flows, such as interest or dividends.

This approach discounts future income to reflect its value in today's terms, helping investors assess true worth.

Explanation

The cost-benefit approach evaluates whether the benefits of an action or investment outweigh the associated costs.

It is commonly used in accounting and economics for decision-making to ensure efficiency and value.