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

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

Question # 2

The primary objective of cost accounting is to

Question # 3

Statement of a affairs is a sort of -----------

Question # 4

Tenor is the period of time ------------ which a bill becomes payable

Question # 5

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

Question # 6

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

Question # 7

According to possible for an event or transaction which is not measurable in terms of money

Question # 8

Cost which is calculated before manufacture operation is called

Question # 9

Per Unit cost is calculated by dividing the cost of goods sold by

Question # 10

Name the main accounts which are prepared in accounting?

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

Sr.# Question Answer
1 Trading account shows ----------- result.
A. Net
B. Gross
C. Profit
D. Loss
2 Difference in cost of alternative choices is called
A. Total costing
B. Differential costing
C. Full costing
D. Variable costing
3 Deferred liabilities are debts which are repayable less than ----------
A. One month
B. Six month
C. One year
D. None
4 How many of grace are given?
A. 5
B. 4
C. 3
D. 2
5 If spoiled goods are considered a normal part of production process than debit to
A. Work in process
B. General expense
C. F.o.H control
D. None of above
6 Cost which is calculated before manufacture operation is called
A. Sunk cost
B. Mixed cost
C. Standard cost
D. None of above
7 Which one is not accounting convention?
A. Materiality
B. Full disclosure
C. Consistency
D. Going concern
8 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
9 In payroll include the remunerations of
A. Direct labour
B. Indirect labour
C. Both a & b
D. None of the above
10 Assets which have to no market value are called
A. Fictitious assets
B. Liquid assets
C. Intangible assets
D. Real assets

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