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

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NAT II Management Science Finance & Accounting

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Question # 1

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

Question # 2

In job order costing system, each job is assigned a job cost

Question # 3

The primary objective of cost accounting is to

Question # 4

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

Question # 5

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

Question # 6

Office salaries are include in

Question # 7

Loss which arises due to ----------- is known as abnormal loss

Question # 8

Treble column cash book has three columns of:

Question # 9

Sales prices is calculated as follow:-

Question # 10

Doubtful debt are:

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

Sr.# Question Answer
1 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
2 Trading account shows ----------- result.
A. Net
B. Gross
C. Profit
D. Loss
3 Petty cash book is a book which record
A. Assets
B. Liabilities
C. Large payments
D. Small payments
4 Costs whose consumption may be identified with specific production units in called
A. Direct labour cost
B. Indirect labour cost
C. Direct material cost
D. Indirect material cost
5 Provision of doubtful debts are also known as:
A. Allowances for uncollectable
B. Allowances for collectable
C. Bad debts
D. None
6 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
7 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
8 How many of grace are given?
A. 5
B. 4
C. 3
D. 2
9 Cost which is calculated before manufacture operation is called
A. Sunk cost
B. Mixed cost
C. Standard cost
D. None of above
10 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

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