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

00:00
Question # 1

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

Question # 2

A--------------- is an account in which those transaction are entered which cannot be placed to their accounts

Question # 3

The ------------- includes a control account entitled general ledger that shows is equity of the general office in the factory.

Question # 4

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

Question # 5

Deferred liabilities are debts which are repayable less than ----------

Question # 6

The primary objective of cost accounting is to

Question # 7

Loss which arises due to ----------- is known as abnormal loss

Question # 8

Profit will be lower where prices are rising under

Question # 9

What is accounting period?

Question # 10

How many of grace are given?

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Top Scorers Of NAT II Management Science Finance & Accounting MCQ`s Test

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    Mehwish 26 - Aug - 2021 01 Min 10 Sec 10/10
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NAT-II Finance & Accounting Chapter 0 Important MCQ's

Sr.# Question Answer
1 If applied factory overhead is less than actual factory overhead, it is called
A. Applied F.o.H
B. Over applied F.o.H
C. Under-applied F.o.H
D. None of above
2 Which one is not accounting convention?
A. Materiality
B. Full disclosure
C. Consistency
D. Going concern
3 How many types of bank accounts are there?
A. 4
B. 3
C. 5
D. 6
4 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
5 Compound entry is an entry in which:
A. More than one account is debited
B. More than one account is credited
C. Both a and b are correct
D. None of the above
6 Work in process opening and closing inventory includes:-
A. Arterial in process
B. Labour in process
C. F.o.H in process
D. All of the above
7 A person is said to be insolvent when his
A. Assets are sufficient
B. Assets are enough to pay his liabilities
C. Assets are not enough to pay his liabilities
D. None
8 Purchase Requisition is sent to
A. Accounts department
B. Purchase department
C. Finance department
D. None of above
9 Bin card is maintained by
A. Purchase manager
B. Sales manager
C. Store keeper
D. Finance manager
10 What is accumulated depreciation?
A. Depreciation expense of the current year
B. Sum of all depreciations in different accounting year
C. Depreciations of previous accounting year
D. None

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