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

Material are charged to production at actual cost under

Question # 3

Doubtful debts are shown on:

Question # 4

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

Question # 5

Name the main accounts which are prepared in accounting?

Question # 6

What are bad debts?

Question # 7

Dishonor of the bill occurs when:

Question # 8

Sales prices is calculated as follow:-

Question # 9

Compound entry is an entry in which:

Question # 10

Accounts which are related with properties are known as

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

Sr.# Question Answer
1 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
2 Doubtful debts are shown on:
A. Profit side of statement of profit and loss
B. Liabilities side of balance sheet
C. Asset side of balance sheet
D. Not shown anywhere
3 The ------------- includes a control account entitled general ledger that shows is equity of the general office in the factory.
A. General ledger
B. Head office ledger
C. Factory ledger
D. None of these
4 Spoiled goods cannot be
A. Sold without repairing
B. Repair and sold as damaged goods
C. Both A and B
D. None of above
5 Treble column cash book has three columns of:
A. Cash, bank and discount
B. Income, expense and bank
C. Cash, bank and profit or loss
D. None
6 The cost flow must watch the
A. Output
B. Outflow
C. Inflow
D. Workflow
7 Endorsement is made:
A. For settlement of debts
B. For settlement of income
C. For settlement of profit
D. None
8 Material are charged to production at actual cost under
A. Weighted average method
B. FIFO method
C. LIFO method
D. Both ii & iii
9 Lead time is the time between the time on item reaches --------------- and ---------- of
A. Order level, dispatch of material
B. Order level, maximum level
C. Maximum level, minimum level
D. Order level, actual receipt
10 Cost which is calculated before manufacture operation is called
A. Sunk cost
B. Mixed cost
C. Standard cost
D. None of above

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