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

Difference in cost of alternative choices is called

Question # 2

Which ratio tells how many times in a year stock is used up and replaced?

Question # 3

Depreciation expenditure is a

Question # 4

If spoiled goods are considered a normal part of production process than debit to

Question # 5

The stages of accounting cycle are

Question # 6

Provision of doubtful debts are also known as:

Question # 7

Which one is not accounting convention?

Question # 8

How many types of inventories are in cost of goods sold statement?

Question # 9

Per Unit cost is calculated by dividing the cost of goods sold by

Question # 10

Which one is not include in factory overhead?

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

Sr.# Question Answer
1 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
2 In payroll include the remunerations of
A. Direct labour
B. Indirect labour
C. Both a & b
D. None of the above
3 The cost of holding the stock in storage is called
A. Ordering cost
B. Material cost
C. Caring cost
D. All of the above
4 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
5 In job order costing system, each job is assigned a job cost
A. Unit
B. Center
C. Driver
D. Sheet
6 The stages of accounting cycle are
A. Transaction-ledger-journal-trial balance-final accounts
B. Transaction-journal-ledger-trial balance-final accounts
C. Transaction-journal-trial balance-ledger-final accounts
D. Transaction-journal-ledger-final accounts-trial balance
7 Debentures are
A. Fixed assets
B. Fixed liabilities
C. Capital
D. Prepaid expenses
8 Loss which arises due to ----------- is known as abnormal loss
A. Breakage of goods
B. Leakage
C. Fire
D. Shrinkage
9 How many branches are there in accounting?
A. 1
B. 3
C. 2
D. 4
10 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

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