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

Under perpetual inventory system stock taking is under taken at the

Question # 2

A cost whose magnitude will be affected by decision being made is called

Question # 3

Which ratio tells how many times in a year stock is used up and replaced?

Question # 4

Quick assets are

Question # 5

Good received note is prepared by

Question # 6

Profit will be lower where prices are rising under

Question # 7

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

Question # 8

Which one of the following is not a negotiable instrument?

Question # 9

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

Question # 10

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

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

Sr.# Question Answer
1 In bill of exchange, the party who accepts a bill is known as:
A. Drawer
B. Drawee
C. Payee
D. Third party
2 The cost flow must watch the
A. Output
B. Outflow
C. Inflow
D. Workflow
3 Endorsement is made:
A. For settlement of debts
B. For settlement of income
C. For settlement of profit
D. None
4 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
5 Material are charged to production at actual cost under
A. Weighted average method
B. FIFO method
C. LIFO method
D. Both ii & iii
6 What is negotiable instrument?
A. A document which is not transferable
B. A document which is transferable
C. A document which is accepted
D. None
7 During period of rising material prices, ----------- method results in profit inflation
A. LIFO
B. FIFO
C. Weighted average
D. All of the above
8 Goodwill is ----------- for company.
A. Intangible asset
B. Fixed asset
C. Current asset
D. Quick asset
9 Cost which is calculated before manufacture operation is called
A. Sunk cost
B. Mixed cost
C. Standard cost
D. None of above
10 Manufacturing concern cycle is ---------- than trading concern cycle:
A. Shorter
B. Greater
C. Medium
D. None of above

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