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

The price at which assets will be sold at the end of its useful life is known as:

Question # 2

Accounts which are related with properties are known as

Question # 3

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

Question # 4

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

Question # 5

What is negotiable instrument?

Question # 6

Trading account shows ----------- result.

Question # 7

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

Question # 8

Which one of the following is not a negotiable instrument?

Question # 9

Provision of doubtful debts are also known as:

Question # 10

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

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

Sr.# Question Answer
1 Which ratio tells how many times in a year stock is used up and replaced?
A. Gross profit ratio
B. Net profit ratio
C. Cost ratio
D. None of these
2 How many types of bank accounts are there?
A. 4
B. 3
C. 5
D. 6
3 How many types of inventories are in cost of goods sold statement?
A. 1
B. 2
C. 3
D. 4
4 The cost flow must watch the
A. Output
B. Outflow
C. Inflow
D. Workflow
5 Assets which have to no market value are called
A. Fictitious assets
B. Liquid assets
C. Intangible assets
D. Real assets
6 Doubtful debt are:
A. Definite loss to the business
B. Definite profit to the business
C. Expected loss to the business
D. Expected profit to the business
7 Manufacturing concern cycle is ---------- than trading concern cycle:
A. Shorter
B. Greater
C. Medium
D. None of above
8 Which one of the following is not a negotiable instrument?
A. Cheque
B. Promissory note
C. Bill of exchange
D. None of the above
9 Loss which arises due to ----------- is known as abnormal loss
A. Breakage of goods
B. Leakage
C. Fire
D. Shrinkage
10 Accounting is the
A. Art
B. Science
C. Both
D. None

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