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

Spoiled goods cannot be

Question # 2

A credit purchases are:

Question # 3

Assets which have to no market value are called

Question # 4

Under perpetual inventory system stock taking is under taken at the

Question # 5

Which one is not include in factory overhead?

Question # 6

Purchase Requisition is sent to

Question # 7

In payroll include the remunerations of

Question # 8

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

Question # 9

Depreciation is a loss due to wear and tear of an asset.

Question # 10

The cost flow must match the

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

Sr.# Question Answer
1 In payroll include the remunerations of
A. Direct labour
B. Indirect labour
C. Both a & b
D. None of the above
2 Purchase Requisition is sent to
A. Accounts department
B. Purchase department
C. Finance department
D. None of above
3 Cost goods sold is Rs. 1650, gross profit ratio is 17.5% then sales is
A. 1800
B. 1900
C. 2000
D. 2200
4 How many types of inventories are in cost of goods sold statement?
A. 1
B. 2
C. 3
D. 4
5 Cash or goods taken away by owner for personal use from business are known as:
A. Capital
B. Drawings
C. Revenue
D. Expense
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 Cost which cannot be conveniently identified with individual cost unit is called
A. Direct material cost
B. Indirect material cost
C. Indirect labour cost
D. Caring cost
8 Historical cost which is irrecoverable in a given situation is called
A. Imputed cost
B. Standard cost
C. Opportunity cost
D. Sunk cost
9 The bills which are drawn and accepted against the sale and purchase of goods on credits are called
A. Trade bills
B. Bill of exchange
C. In-land bills
D. Foreign bills
10 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

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