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	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
2	Rebate is the --------- in the amount of bill paid	A. Premium B. Increase C. Expense D. Concession
3	Dishonor of the bill occurs when:	A. The drawer refuse to pay B. The acceptor refuses to meet the bill on due date C. The endorsee accepts to meet the bill D. None
4	Bin card is maintained by	A. Purchase manager B. Sales manager C. Store keeper D. Finance manager
5	Assets which have to no market value are called	A. Fictitious assets B. Liquid assets C. Intangible assets D. Real assets
6	A--------------- is an account in which those transaction are entered which cannot be placed to their accounts	A. Nominal account B. Suspense account C. Personal account D. Debtor account
7	The price at which assets will be sold at the end of its useful life is known as:	A. Scrap value B. Residual value C. Written down value D. All of the above
8	Petty cash book is a book which record	A. Assets B. Liabilities C. Large payments D. Small payments
9	In payroll include the remunerations of	A. Direct labour B. Indirect labour C. Both a & b D. None of the above
10	Spoiled goods cannot be	A. Sold without repairing B. Repair and sold as damaged goods C. Both A and B D. None of above