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

The ------------- includes a control account entitled general ledger that shows is equity of the general office in the factory.

Question # 2

Spoiled goods cannot be

Question # 3

The stages of accounting cycle are

Question # 4

Work in process opening and closing inventory includes:-

Question # 5

Trading account shows ----------- result.

Question # 6

Accounts which are related with properties are known as

Question # 7

The primary object of non-profit organizations is

Question # 8

Assets which have to no market value are called

Question # 9

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

Question # 10

A property which is received by virtue of a will of a person after his death is known as

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Top Scorers Of NAT II Management Science Finance & Accounting MCQ`s Test

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    Mehwish 26 - Aug - 2021 01 Min 10 Sec 10/10
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    mehwish Malik 24 - Apr - 2023 10 Min 50 Sec 6/10
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NAT-II Finance & Accounting Chapter 0 Important MCQ's

Sr.# Question Answer
1 Manufacturing concern cycle is ---------- than trading concern cycle:
A. Shorter
B. Greater
C. Medium
D. None of above
2 Per Unit cost is calculated by dividing the cost of goods sold by
A. The number of units sold
B. The number of units purchase
C. The number of units manufactured
D. All of the above
3 A property which is received by virtue of a will of a person after his death is known as
A. Legacy
B. Donation
C. Subscription
D. Gift
4 Bin card is maintained by
A. Purchase manager
B. Sales manager
C. Store keeper
D. Finance manager
5 What are bad debts?
A. Debts which are irrecoverable from the debtors
B. Debts which are recoverable from the debtors
C. Debts which are irrecoverable from the creditors
D. Debts which are recoverable from the creditors
6 Excess of assets over liabilities is known as:
A. Capital fund
B. Accumulated fund
C. Surplus fund
D. All options are correct
7 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
8 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
9 If spoiled good are considered as abnormal part of production process then debited to
A. Work in process
B. General expense
C. F-o-H control
D. None of above
10 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

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