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

Under perpetual inventory system stock taking is under taken at the

Question # 2

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

Question # 3

Treble column cash book has three columns of:

Question # 4

Cost which cannot be conveniently identified with individual cost unit is called

Question # 5

Cost which is calculated before manufacture operation is called

Question # 6

Debentures are

Question # 7

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

Question # 8

In payroll include the remunerations of

Question # 9

Doubtful debt are:

Question # 10

Cash or goods taken away by owner for personal use from business are known as:

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

Sr.# Question Answer
1 How many branches are there in accounting?
A. 1
B. 3
C. 2
D. 4
2 Debentures are
A. Fixed assets
B. Fixed liabilities
C. Capital
D. Prepaid expenses
3 Dishonor of the bill occurs when:
A. The drawer refuse to pay
B. The acceptor refuses to meet the bill on due date
C. The endorsee accepts to meet the bill
D. None
4 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
5 During period of rising material prices, ----------- method results in profit inflation
A. LIFO
B. FIFO
C. Weighted average
D. All of the above
6 Manufacturing concern cycle is ---------- than trading concern cycle:
A. Shorter
B. Greater
C. Medium
D. None of above
7 What is accounting period?
A. It is a time for which business prepares its financial statements
B. It is time for which business prepares its profit and loss statement
C. It is a time for which business prepares its balance sheet
D. None
8 Historical cost which is irrecoverable in a given situation is called
A. Imputed cost
B. Standard cost
C. Opportunity cost
D. Sunk cost
9 Which one is not a functional classification?
A. Manufacturing cost
B. Marketing cost
C. Finance cost
D. Mixed cost
10 Which one is non-manufacturing costs?
A. Direct material cost
B. Labour cost
C. Research and development cost
D. All of above

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