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

Treble column cash book has three columns of:

Question # 2

What are bad debts?

Question # 3

Manufacturing concern cycle is ---------- than trading concern cycle:

Question # 4

The objective of financial accounting is to ascertain:

Question # 5

Historical cost which is irrecoverable in a given situation is called

Question # 6

A credit purchases are:

Question # 7

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

Question # 8

Which one is non-manufacturing costs?

Question # 9

Purchase Requisition is sent to

Question # 10

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

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

Sr.# Question Answer
1 A credit purchases are:
A. If goods purchased and payment made at the same time
B. If goods purchased and payment not made at the same time
C. If goods sold and payment receive at the same time
D. If goods sold and payment not receive at the same time
2 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
3 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
4 Which one is non-manufacturing costs?
A. Direct material cost
B. Labour cost
C. Research and development cost
D. All of above
5 Profit will be lower where prices are rising under
A. FIFO method
B. LIFO method
C. Weighted average method
D. All of the above
6 According to possible for an event or transaction which is not measurable in terms of money
A. True
B. False
C. May be
D. None
7 Lead time is the time between the time on item reaches --------------- and ---------- of
A. Order level, dispatch of material
B. Order level, maximum level
C. Maximum level, minimum level
D. Order level, actual receipt
8 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:
9 During period of rising material prices, ----------- method results in profit inflation
A. LIFO
B. FIFO
C. Weighted average
D. All of the above
10 What are bad debts?
A. Debts which are irrecoverable from the debtors
B. Debts which are recoverable from the debtors
C. Debts which are irrecoverable from the creditors
D. Debts which are recoverable from the creditors

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