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

  • Time Allowed15

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NAT II Management Science Finance & Accounting

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Question # 1

Section of the business to which cost can be charged is termed as

Question # 2

In bill of exchange, the party who accepts a bill is known as:

Question # 3

What is accumulated depreciation?

Question # 4

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

Question # 5

Variable cost and fixed cost have been treated as product cost in

Question # 6

The cost of holding the stock in storage is called

Question # 7

Cost which is calculated before manufacture operation is called

Question # 8

Cost goods sold is Rs. 1650, gross profit ratio is 17.5% then sales is

Question # 9

Profit will be lower where prices are rising under

Question # 10

Doubtful debt are:

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

Sr.# Question Answer
1 Quick assets are
A. Cash in hand
B. Cash at bank
C. Debtors
D. All of the above
2 Excess of assets over liabilities is known as:
A. Capital fund
B. Accumulated fund
C. Surplus fund
D. All options are correct
3 If applied factory overhead is less than actual factory overhead, it is called
A. Applied F.o.H
B. Over applied F.o.H
C. Under-applied F.o.H
D. None of above
4 Petty cash book is a book which record
A. Assets
B. Liabilities
C. Large payments
D. Small payments
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 Work in process opening and closing inventory includes:-
A. Arterial in process
B. Labour in process
C. F.o.H in process
D. All of the above
7 Material are charged to production at actual cost under
A. Weighted average method
B. FIFO method
C. LIFO method
D. Both ii & iii
8 The technique and process of ascertaining cost is termed as
A. Costing
B. Cost accounting
C. Calculation of cost
D. Controlling cost
9 Which one of the following is not a negotiable instrument?
A. Cheque
B. Promissory note
C. Bill of exchange
D. None of the above
10 Hypothetical cost which are specially computed outside the accounting system for the purpose of decision making is called
A. Future cost
B. Replacement cost
C. Imputed cost
D. Sunk cost

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