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

Purchase Requisition is sent to

Question # 2

Which one is not a classification according to the accounting period?

Question # 3

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

Question # 4

What are bad debts?

Question # 5

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

Question # 6

Treble column cash book has three columns of:

Question # 7

The primary object of non-profit organizations is

Question # 8

What is negotiable instrument?

Question # 9

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

Question # 10

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

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

Sr.# Question Answer
1 Accounting is the
A. Art
B. Science
C. Both
D. None
2 Cash or goods taken away by owner for personal use from business are known as:
A. Capital
B. Drawings
C. Revenue
D. Expense
3 Which one is not a classification according to the accounting period?
A. Capital expenditure
B. Revenue expenditure
C. Product cost
D. Administrative cost
4 In job order costing system, each job is assigned a job cost
A. Unit
B. Center
C. Driver
D. Sheet
5 Petty cash book is a book which record
A. Assets
B. Liabilities
C. Large payments
D. Small payments
6 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
7 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
8 Outstanding expenses are also known as
A. Prepared expenses
B. Accrued expenses
C. Un-earned income
D. None
9 Realisation concept is the concept in which revenue is ------------ at the time when goods are sold or services rendered.
A. Recognized
B. Not recognized
C. Paid
D. Received
10 Section of the business to which cost can be charged is termed as
A. Cost driver
B. Cost center
C. Cost unit
D. All of above

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