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

00:00
Question # 1

A--------------- is an account in which those transaction are entered which cannot be placed to their accounts

Question # 2

Depreciation is a loss due to wear and tear of an asset.

Question # 3

Which one is not a functional classification?

Question # 4

Spoiled goods cannot be

Question # 5

The objective of financial accounting is to ascertain:

Question # 6

Under perpetual inventory system stock taking is under taken at the

Question # 7

What is negotiable instrument?

Question # 8

Section of the business to which cost can be charged is termed as

Question # 9

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

Question # 10

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

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

Sr.# Question Answer
1 In job order costing system, each job is assigned a job cost
A. Unit
B. Center
C. Driver
D. Sheet
2 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
3 Quick assets are
A. Cash in hand
B. Cash at bank
C. Debtors
D. All of the above
4 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
5 Section of the business to which cost can be charged is termed as
A. Cost driver
B. Cost center
C. Cost unit
D. All of above
6 Profit will be lower where prices are rising under
A. FIFO method
B. LIFO method
C. Weighted average method
D. All of the above
7 Which one is non-manufacturing costs?
A. Direct material cost
B. Labour cost
C. Research and development cost
D. All of above
8 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
9 Rebate is the --------- in the amount of bill paid
A. Premium
B. Increase
C. Expense
D. Concession
10 Depreciation is a loss due to wear and tear of an asset.
A. Correct
B. Incorrent
C. May be
D. None

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