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 flow must match the

Question # 2

Which one of the following is not a negotiable instrument?

Question # 3

If spoiled good are considered as abnormal part of production process then debited to

Question # 4

Historical cost which is irrecoverable in a given situation is called

Question # 5

Doubtful debts are shown on:

Question # 6

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

Question # 7

How many types of inventories are in cost of goods sold statement?

Question # 8

How many types of bank accounts are there?

Question # 9

The primary objective of cost accounting is to

Question # 10

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

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

Sr.# Question Answer
1 Name the main accounts which are prepared in accounting?
A. Assets, liabilities, income and expenses
B. Assets, liabilities, income and revenue
C. Assets, owner's equity, income and expenses
D. Assets, liabilities and expenses
2 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
3 Which one is not accounting convention?
A. Materiality
B. Full disclosure
C. Consistency
D. Going concern
4 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
5 Endorsement is made:
A. For settlement of debts
B. For settlement of income
C. For settlement of profit
D. None
6 Which one is non-manufacturing costs?
A. Direct material cost
B. Labour cost
C. Research and development cost
D. All of above
7 Which one of the following is not a negotiable instrument?
A. Cheque
B. Promissory note
C. Bill of exchange
D. None of the above
8 Cost which is calculated before manufacture operation is called
A. Sunk cost
B. Mixed cost
C. Standard cost
D. None of above
9 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
10 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

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