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

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

Sr.#	Question	Answer
1	Petty cash book is a book which record	A. Assets B. Liabilities C. Large payments D. Small payments
2	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
3	The primary objective of cost accounting is to	A. Control cost B. Calculate profit C. Avoid cost D. All of above
4	Quick assets are	A. Cash in hand B. Cash at bank C. Debtors D. All of the above
5	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
6	Assets which have to no market value are called	A. Fictitious assets B. Liquid assets C. Intangible assets D. Real assets
7	During period of rising material prices, ----------- method results in profit inflation	A. LIFO B. FIFO C. Weighted average D. All of the above
8	The primary object of non-profit organizations is	A. Not to earn profit B. Work for the welfare of society C. Buy/sell goods D. A and B but not C
9	Costs whose consumption may be identified with specific production units in called	A. Direct labour cost B. Indirect labour cost C. Direct material cost D. Indirect material cost
10	Difference in cost of alternative choices is called	A. Total costing B. Differential costing C. Full costing D. Variable costing