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

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

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  • Total Questions10

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NAT II Management Science Finance & Accounting

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Question # 1

The cost flow must match the

Question # 2

Under perpetual inventory system stock taking is under taken at the

Question # 3

From the following statements which one is not true about over applied F.o.H

Question # 4

Tenor is the period of time ------------ which a bill becomes payable

Question # 5

What are bad debts?

Question # 6

The price at which assets will be sold at the end of its useful life is known as:

Question # 7

What are accrued expenses?

Question # 8

A credit purchases are:

Question # 9

Which one is not a functional classification?

Question # 10

Any written evidence of a business transaction is known as

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

Sr.# Question Answer
1 Good received note is prepared by
A. Purchase department
B. Sales department
C. Receiving department
D. All of the above
2 Which one is not accounting convention?
A. Materiality
B. Full disclosure
C. Consistency
D. Going concern
3 If spoiled goods are considered a normal part of production process than debit to
A. Work in process
B. General expense
C. F.o.H control
D. None of above
4 In payroll include the remunerations of
A. Direct labour
B. Indirect labour
C. Both a & b
D. None of the above
5 How many types of bank accounts are there?
A. 4
B. 3
C. 5
D. 6
6 The ------------- includes a control account entitled general ledger that shows is equity of the general office in the factory.
A. General ledger
B. Head office ledger
C. Factory ledger
D. None of these
7 The technique and process of ascertaining cost is termed as
A. Costing
B. Cost accounting
C. Calculation of cost
D. Controlling cost
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 Assets which have to no market value are called
A. Fictitious assets
B. Liquid assets
C. Intangible assets
D. Real assets
10 Lead time is the time between the time on item reaches --------------- and ---------- of
A. Order level, dispatch of material
B. Order level, maximum level
C. Maximum level, minimum level
D. Order level, actual receipt

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