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

The cost of holding the stock in storage is called

Question # 2

How many branches are there in accounting?

Question # 3

Assets which have to no market value are called

Question # 4

Profit will be lower where prices are rising under

Question # 5

Accounts which are related with properties are known as

Question # 6

The primary objective of cost accounting is to

Question # 7

Depreciation expenditure is a

Question # 8

In operating expense includes

Question # 9

If applied factory overhead is less than actual factory overhead, it is called

Question # 10

Outstanding expenses are also known as

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

Sr.# Question Answer
1 Offsetting expenses against revenue is the concept of:
A. Realization
B. Dual aspect
C. Matching
D. Conventions
2 In payroll include the remunerations of
A. Direct labour
B. Indirect labour
C. Both a & b
D. None of the above
3 Provision of doubtful debts are also known as:
A. Allowances for uncollectable
B. Allowances for collectable
C. Bad debts
D. None
4 A person is said to be insolvent when his
A. Assets are sufficient
B. Assets are enough to pay his liabilities
C. Assets are not enough to pay his liabilities
D. None
5 Bin card is maintained by
A. Purchase manager
B. Sales manager
C. Store keeper
D. Finance manager
6 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
7 Statement of a affairs is a sort of -----------
A. Profit and loss statement
B. Nominal account
C. Statement of changes in equity
D. Balance sheet
8 What are accrued expenses?
A. The expenses that have been incurred during current year and paid till the end of current year
B. The expenses that have been incurred previous year and paid in the current year
C. The expenses that have been incurred during current year and not paid till the end of current year
D. The expenses that have been incurred previous year and not paid till the end of current year
9 Any written evidence of a business transaction is known as
A. Voucher
B. Pay-in-slip
C. Debit note
D. Credit note
10 Section of the business to which cost can be charged is termed as
A. Cost driver
B. Cost center
C. Cost unit
D. All of above

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