NAT IIM Management Science Finance & Accounting Online Test for Pakistani Students

MCQ's Test For NAT II Management Science Finance & Accounting

Try The MCQ's Test For NAT II Management Science Finance & Accounting

  • Total Questions10

  • Time Allowed15

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NAT II Management Science Finance & Accounting

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Question # 1

Hypothetical cost which are specially computed outside the accounting system for the purpose of decision making is called

Question # 2

In job order costing system, each job is assigned a job cost

Question # 3

Manufacturing concern cycle is ---------- than trading concern cycle:

Question # 4

Cash or goods taken away by owner for personal use from business are known as:

Question # 5

In payroll include the remunerations of

Question # 6

The bills which are drawn and accepted against the sale and purchase of goods on credits are called

Question # 7

Accounting is the

Question # 8

The cost of holding the stock in storage is called

Question # 9

Historical cost which is irrecoverable in a given situation is called

Question # 10

What is amortization?

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NAT-II Class Finance & Accounting Chapter 0 Important MCQ's

Sr.# Question Answer
1 Loss which arises due to ----------- is known as abnormal loss
A. Breakage of goods
B. Leakage
C. Fire
D. Shrinkage
2 If spoiled good are considered as abnormal part of production process then debited to
A. Work in process
B. General expense
C. F-o-H control
D. None of above
3 From the following statements which one is not true about over applied F.o.H
A. Less from cost of goods sold at normal
B. Less from entire production if required
C. Add in gross profit if required
D. Less from Net profit.
4 Office salaries are include in
A. Direct material cost
B. Indirect material cost
C. Factory overhead cost
D. Total payroll
5 Assets which have to no market value are called
A. Fictitious assets
B. Liquid assets
C. Intangible assets
D. Real assets
6 Rebate is the --------- in the amount of bill paid
A. Premium
B. Increase
C. Expense
D. Concession
7 Purchase Requisition is sent to
A. Accounts department
B. Purchase department
C. Finance department
D. None of above
8 Variable cost and fixed cost have been treated as product cost in
A. Absorption costing
B. Direct costing
C. Full costing
D. All of above
9 How many branches are there in accounting?
A. 1
B. 3
C. 2
D. 4
10 The primary objective of cost accounting is to
A. Control cost
B. Calculate profit
C. Avoid cost
D. All of above

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