NAT IIM Management Science Finance & Accounting Online Test for Pakistani Students

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

Sr.#	Question	Answer
1	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
2	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
3	Deferred liabilities are debts which are repayable less than ----------	A. One month B. Six month C. One year D. None
4	What is amortization?	A. Decrease in the value of fixed assets B. Decrease in the value of intangible assets C. Increase in the value of fixed assets D. Increase in the value of intangible assets
5	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
6	The cost of holding the stock in storage is called	A. Ordering cost B. Material cost C. Caring cost D. All of the above
7	Accounting is the	A. Art B. Science C. Both D. None
8	Petty cash book is a book which record	A. Assets B. Liabilities C. Large payments D. Small payments
9	The technique and process of ascertaining cost is termed as	A. Costing B. Cost accounting C. Calculation of cost D. Controlling cost
10	Trading account shows ----------- result.	A. Net B. Gross C. Profit D. Loss