Explanation

Chet — 1st month of the Nanakshahi Calendar:

• Start of Sikh New Year (~March 14)
• 31 days (March 14 – April 13)
• Season: Spring
• Next month: Vaisakh

Explanation

• In accounting, an economic event occurs when a transaction is recorded.
• An economic event is a business occurrence that has a financial effect.
• It can change the company’s assets, liabilities, or owner's equity.
• Examples include sales, purchases, payments, and receipts.
• Recording the transaction allows the event to be reflected in the accounting records.

Last verified on 12-08-2026

Explanation

• The model that uses management, accounting, and econometrics is called a Management Science Model.
• Management science applies mathematical and analytical techniques to solve management problems.
• It uses quantitative information from areas such as management, accounting, and economics/econometrics.
• These models support planning, decision-making, and resource allocation.

Last verified on 12-08-2026

Explanation

• A Profitability Index (PI) of 0.9 means the project's NPV is negative, and the project should be rejected.
• The Profitability Index (PI) compares the present value of future cash inflows with the initial investment.
• PI > 1: NPV is positive → Accept the project.
• PI = 1: NPV is zero → Indifferent between accepting and rejecting.
• PI < 1: NPV is negative → Reject the project.

Last verified on 12-08-2026

Explanation

• Federal funds can be spent by Federal, Provincial, and Local Bodies, according to their respective constitutional and legal responsibilities.
• The Federal Government spends funds on federal subjects and national-level programs.
• Provincial Governments spend funds on subjects assigned to the provinces.
• Local Bodies spend funds on local services and development under applicable laws.

Last verified on 12-08-2026

Explanation

• The 18th Constitutional Amendment granted greater provincial autonomy.
• It was passed by Parliament in 2010.
• It was received presidential assent on 19 April 2010.
• The amendment abolished the Concurrent Legislative List, transferring many subjects to the provinces.
• It strengthened the role and powers of the provincial governments.

Last verified on 12-08-2026

Explanation

• Article 27 deals with non-discrimination in appointments to the service of Pakistan.
• It provides safeguards against discrimination in public service appointments.
• It mentions grounds such as race, religion, caste, sex, residence, or place of birth.

Additional information:

• Article 25: Equality of citizens.
• Article 28: Preservation of language, script, and culture.

Last verified on 12-08-2026

Explanation

• Bureaucracy is non-elected.
• Bureaucrats are generally appointed officials, not elected representatives.
• They implement government policies and manage public administration.
• Bureaucracy operates through rules, procedures, and established administrative structures.
• It provides continuity in government administration despite changes in elected governments.

Last verified on 12-08-2026

Explanation

• Pakistan's civil service is influenced mainly by its colonial legacy.
• Pakistan inherited much of its administrative structure from the British colonial system.
• The civil service developed from institutions established during British rule in the Indian subcontinent.
• The system emphasized hierarchy, rules, authority, and centralized administration.
• This colonial administrative tradition continues to influence Pakistan's civil service.

Last verified on 12-08-2026

Explanation

• Pakistan introduced bureaucratic reforms on the model of developing countries.
• These reforms aimed to improve the efficiency and organization of Pakistan’s administrative system.
• Pakistan studied administrative models and experiences of other developing countries.
• The reforms focused on improving public administration and government efficiency.

Last verified on 12-08-2026