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

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NAT II Management Science Finance & Accounting

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Question # 1

Lead time is the time between the time on item reaches --------------- and ---------- of

Question # 2

The objective of financial accounting is to ascertain:

Question # 3

The stages of accounting cycle are

Question # 4

Any written evidence of a business transaction is known as

Question # 5

Rebate is the --------- in the amount of bill paid

Question # 6

The cost flow must match the

Question # 7

A credit purchases are:

Question # 8

Sales prices is calculated as follow:-

Question # 9

How many branches are there in accounting?

Question # 10

In payroll include the remunerations of

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

Sr.# Question Answer
1 Which one of the following is not a negotiable instrument?
A. Cheque
B. Promissory note
C. Bill of exchange
D. None of the above
2 What are bad debts?
A. Debts which are irrecoverable from the debtors
B. Debts which are recoverable from the debtors
C. Debts which are irrecoverable from the creditors
D. Debts which are recoverable from the creditors
3 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
4 The cost flow must watch the
A. Output
B. Outflow
C. Inflow
D. Workflow
5 The cost flow must match the
A. Output
B. Outflow
C. Inflow
D. Workflow
6 Costs whose consumption may be identified with specific production units in called
A. Direct labour cost
B. Indirect labour cost
C. Direct material cost
D. Indirect material cost
7 The cost of holding the stock in storage is called
A. Ordering cost
B. Material cost
C. Caring cost
D. All of the above
8 Sales prices is calculated as follow:-
A. Cost + operating expense
B. Direct material + Direct labour + F.o.H
C. Cost + operating expenses + profit
D. None of above
9 What are accrued expenses?
A. The expenses that have been incurred during current year and paid till the end of current year
B. The expenses that have been incurred previous year and paid in the current year
C. The expenses that have been incurred during current year and not paid till the end of current year
D. The expenses that have been incurred previous year and not paid till the end of current year
10 Name the main accounts which are prepared in accounting?
A. Assets, liabilities, income and expenses
B. Assets, liabilities, income and revenue
C. Assets, owner's equity, income and expenses
D. Assets, liabilities and expenses

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