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

In operating expense includes

Question # 2

Variable cost and fixed cost have been treated as product cost in

Question # 3

Cost which is calculated before manufacture operation is called

Question # 4

The bills which are drawn and accepted against the sale and purchase of goods on credits are called

Question # 5

Realisation concept is the concept in which revenue is ------------ at the time when goods are sold or services rendered.

Question # 6

Treble column cash book has three columns of:

Question # 7

During period of rising material prices, ----------- method results in profit inflation

Question # 8

The stages of accounting cycle are

Question # 9

A property which is received by virtue of a will of a person after his death is known as

Question # 10

If spoiled good are considered as abnormal part of production process then debited to

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

Sr.# Question Answer
1 Assets which have to no market value are called
A. Fictitious assets
B. Liquid assets
C. Intangible assets
D. Real assets
2 Offsetting expenses against revenue is the concept of:
A. Realization
B. Dual aspect
C. Matching
D. Conventions
3 The bills which are drawn and accepted against the sale and purchase of goods on credits are called
A. Trade bills
B. Bill of exchange
C. In-land bills
D. Foreign bills
4 The cost flow must match the
A. Output
B. Outflow
C. Inflow
D. Workflow
5 Provision of doubtful debts are also known as:
A. Allowances for uncollectable
B. Allowances for collectable
C. Bad debts
D. None
6 Which one is non-manufacturing costs?
A. Direct material cost
B. Labour cost
C. Research and development cost
D. All of above
7 Treble column cash book has three columns of:
A. Cash, bank and discount
B. Income, expense and bank
C. Cash, bank and profit or loss
D. None
8 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
9 Material are charged to production at actual cost under
A. Weighted average method
B. FIFO method
C. LIFO method
D. Both ii & iii
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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