NAT IIM Management Science Finance & Accounting Online Test for Pakistani Students

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

Material are charged to production at actual cost under

Question # 2

The stages of accounting cycle are

Question # 3

What is accumulated depreciation?

Question # 4

How many of grace are given?

Question # 5

Which one is non-manufacturing costs?

Question # 6

Petty cash book is a book which record

Question # 7

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

Question # 8

Outstanding expenses are also known as

Question # 9

The primary object of non-profit organizations is

Question # 10

The cost flow must watch the

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

Sr.# Question Answer
1 Hypothetical cost which are specially computed outside the accounting system for the purpose of decision making is called
A. Future cost
B. Replacement cost
C. Imputed cost
D. Sunk cost
2 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
3 Which one is not accounting convention?
A. Materiality
B. Full disclosure
C. Consistency
D. Going concern
4 Which one is not a functional classification?
A. Manufacturing cost
B. Marketing cost
C. Finance cost
D. Mixed cost
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 Assets which have to no market value are called
A. Fictitious assets
B. Liquid assets
C. Intangible assets
D. Real assets
7 According to possible for an event or transaction which is not measurable in terms of money
A. True
B. False
C. May be
D. None
8 Loss which arises due to ----------- is known as abnormal loss
A. Breakage of goods
B. Leakage
C. Fire
D. Shrinkage
9 Trading account shows ----------- result.
A. Net
B. Gross
C. Profit
D. Loss
10 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

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