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

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

Question # 2

Accounts which are related with properties are known as

Question # 3

Office salaries are include in

Question # 4

Realisation concept is the concept in which revenue is ------------ at the time when goods are sold or services rendered.

Question # 5

The stages of accounting cycle are

Question # 6

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

Question # 7

What is accounting period?

Question # 8

Excess of assets over liabilities is known as:

Question # 9

The primary objective of cost accounting is to

Question # 10

What is negotiable instrument?

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

Sr.# Question Answer
1 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
2 Which ratio tells how many times in a year stock is used up and replaced?
A. Gross profit ratio
B. Net profit ratio
C. Cost ratio
D. None of these
3 Loss which arises due to ----------- is known as abnormal loss
A. Breakage of goods
B. Leakage
C. Fire
D. Shrinkage
4 The objective of financial accounting is to ascertain:
A. True results of profit
B. True results of loss
C. True results of profit or loss
D. None
5 Good received note is prepared by
A. Purchase department
B. Sales department
C. Receiving department
D. All of the above
6 Goodwill is ----------- for company.
A. Intangible asset
B. Fixed asset
C. Current asset
D. Quick asset
7 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
8 Cost goods sold is Rs. 1650, gross profit ratio is 17.5% then sales is
A. 1800
B. 1900
C. 2000
D. 2200
9 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
10 The cost flow must watch the
A. Output
B. Outflow
C. Inflow
D. Workflow

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