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

00:00
Question # 1

Goodwill is ----------- for company.

Question # 2

In operating expense includes

Question # 3

The primary objective of cost accounting is to

Question # 4

Loss which arises due to ----------- is known as abnormal loss

Question # 5

Provision of doubtful debts are also known as:

Question # 6

Doubtful debts are shown on:

Question # 7

What is accounting period?

Question # 8

If applied factory overhead is less than actual factory overhead, it is called

Question # 9

Spoiled goods cannot be

Question # 10

Which one is non-manufacturing costs?

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

Sr.# Question Answer
1 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
2 A--------------- is an account in which those transaction are entered which cannot be placed to their accounts
A. Nominal account
B. Suspense account
C. Personal account
D. Debtor account
3 How many branches are there in accounting?
A. 1
B. 3
C. 2
D. 4
4 A property which is received by virtue of a will of a person after his death is known as
A. Legacy
B. Donation
C. Subscription
D. Gift
5 Realisation concept is the concept in which revenue is ------------ at the time when goods are sold or services rendered.
A. Recognized
B. Not recognized
C. Paid
D. Received
6 Which ratio tells how many times in a year stock is used up and replaced?
A. Gross profit ratio
B. Net profit ratio
C. Cost ratio
D. None of these
7 During period of rising material prices, ----------- method results in profit inflation
A. LIFO
B. FIFO
C. Weighted average
D. All of the above
8 The objective of financial accounting is to ascertain:
A. True results of profit
B. True results of loss
C. True results of profit or loss
D. None
9 Which one is not accounting convention?
A. Materiality
B. Full disclosure
C. Consistency
D. Going concern
10 According to possible for an event or transaction which is not measurable in terms of money
A. True
B. False
C. May be
D. None

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