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	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
2	Debentures are	A. Fixed assets B. Fixed liabilities C. Capital D. Prepaid expenses
3	Statement of a affairs is a sort of -----------	A. Profit and loss statement B. Nominal account C. Statement of changes in equity D. Balance sheet
4	Any written evidence of a business transaction is known as	A. Voucher B. Pay-in-slip C. Debit note D. Credit note
5	In job order costing system, each job is assigned a job cost	A. Unit B. Center C. Driver D. Sheet
6	Which one is not a classification according to the accounting period?	A. Capital expenditure B. Revenue expenditure C. Product cost D. Administrative cost
7	Tenor is the period of time ------------ which a bill becomes payable	A. Before B. After C. Both a and b D. None
8	Quick assets are	A. Cash in hand B. Cash at bank C. Debtors D. All of the above
9	Cost which is calculated before manufacture operation is called	A. Sunk cost B. Mixed cost C. Standard cost D. None of above
10	Profit will be lower where prices are rising under	A. FIFO method B. LIFO method C. Weighted average method D. All of the above