Commerce is an optional paper for the PMS examination. Here is the PMS Commerce Paper-II for 2024. PPSC often conducts this Provincial Management Services (PMS) examination. The Paper II on Commerce was held on February 01, 2025. Find its past paper below to understand what topics were given. If you are an aspirant preparing for the PMS, this Commerce paper will help you better prepare. This way you can better understand the paper and the questions.
PMS Commerce Paper-II 2024
Q1. What are the problems of cottage & small-scale industries? Also, explain the role of SMEDA in the promotion of these industries.
Q2. Define audit risk. What are the different types of audit opinions that the auditor can give in the auditor report?
Q3. Briefly explain different kinds of companies. Also, explain the difference between a public limited company and a private limited company.
Q4. How is the management structure of a partnership company different from the management structure of a limited company? Explain.
Q5. What is the letter of credit? Discuss the uses, types, and procedures of a Letter of Credit.
Q6. Management philosophies and principles remain the same all over the world but management practices vary from region to region and organization to organization. As culture plays a very important role in management practices, discuss how does it so.
Q7. What do you know about the scientific management? Who gave the concept? What contribution does it have to management practices?
Q8. Define leadership and explain why “leadership” is much more important for managers than other skills of management.
Critical Evaluation of the Paper
The paper mentions issues in cottage and small-scale industries, providing examples of such issues as a lack of capital, technological obsolescence, and ineffective marketing, along with the role of SMEDA in their growth. The paper defines audit risk and identifies different audit opinions, such as unqualified, qualified, adverse, and disclaimer opinions.
Types of companies are described and the differences between public and private limited companies are compared. The different management forms of partnerships and limited companies are compared. The letter of credit is defined and its usage, types, and procedural aspects in trade are discussed.
The role of culture in the practice of management is described, with reference to regional and organizational variations in spite of universal management principles. The scientific management theory developed by Frederick Taylor is discussed in terms of its impact on modern management. Lastly, leadership is defined and its greater importance for managers compared to other managerial skills.
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