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 primary objective of cost accounting is to

Question # 2

Which one is not a functional classification?

Question # 3

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

Question # 4

Quick assets are

Question # 5

Treble column cash book has three columns of:

Question # 6

The stages of accounting cycle are

Question # 7

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

Question # 8

Provision of doubtful debts are also known as:

Question # 9

Purchase Requisition is sent to

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 The cost flow must watch the
A. Output
B. Outflow
C. Inflow
D. Workflow
2 The cost of holding the stock in storage is called
A. Ordering cost
B. Material cost
C. Caring cost
D. All of the above
3 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
4 Any written evidence of a business transaction is known as
A. Voucher
B. Pay-in-slip
C. Debit note
D. Credit note
5 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
6 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
7 Accounts which are related with properties are known as
A. Real accounts
B. Nominal accounts
C. Property accounts
D. A and C are correct Accounting principles:
8 Purchase Requisition is sent to
A. Accounts department
B. Purchase department
C. Finance department
D. None of above
9 How many types of bank accounts are there?
A. 4
B. 3
C. 5
D. 6
10 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

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