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

Top Scorers Of NAT II Management Science Finance & Accounting MCQ`s Test

Sr.#	Question	Answer
1	Which one is not accounting convention?	A. Materiality B. Full disclosure C. Consistency D. Going concern
2	Under perpetual inventory system stock taking is under taken at the	A. Start of the accounting year B. End of the accounting C. Regular bases D. None of above
3	In operating expense includes	A. Marketing expense B. Admin expense C. Selling expense D. All of the above
4	Tenor is the period of time ------------ which a bill becomes payable	A. Before B. After C. Both a and b D. None
5	The primary objective of cost accounting is to	A. Control cost B. Calculate profit C. Avoid cost D. All of above
6	A person is said to be insolvent when his	A. Assets are sufficient B. Assets are enough to pay his liabilities C. Assets are not enough to pay his liabilities D. None
7	Quick assets are	A. Cash in hand B. Cash at bank C. Debtors D. All of the above
8	Cost which cannot be conveniently identified with individual cost unit is called	A. Direct material cost B. Indirect material cost C. Indirect labour cost D. Caring cost
9	The price at which assets will be sold at the end of its useful life is known as:	A. Scrap value B. Residual value C. Written down value D. All of the above
10	Accounting is the	A. Art B. Science C. Both D. None