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

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Question # 1

Cost goods sold is Rs. 1650, gross profit ratio is 17.5% then sales is

Question # 2

Which one is not a classification according to the accounting period?

Question # 3

In payroll include the remunerations of

Question # 4

Debentures are

Question # 5

The bills which are drawn and accepted against the sale and purchase of goods on credits are called

Question # 6

In bill of exchange, the party who accepts a bill is known as:

Question # 7

Cost which is calculated before manufacture operation is called

Question # 8

Any written evidence of a business transaction is known as

Question # 9

Assets which have to no market value are called

Question # 10

The cost flow must match the

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

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    Maya Kumari 08 - Jun - 2022 00 Min 39 Sec 10/10
  • M
    Mehwish 26 - Aug - 2021 01 Min 10 Sec 10/10
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    Waleed mazhar 30 - Jul - 2022 00 Min 32 Sec 9/10
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    Muqadas Hussain 11 - Jan - 2023 10 Min 50 Sec 7/10
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    Chiragh uddin 19 - Sep - 2021 02 Min 07 Sec 6/10
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    Bilal khan 18 - Jul - 2023 02 Min 19 Sec 6/10
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    mehwish Malik 24 - Apr - 2023 10 Min 50 Sec 6/10
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    Shahkar Afridi 29 - May - 2022 10 Min 50 Sec 6/10
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NAT-II Finance & Accounting Chapter 0 Important MCQ's

Sr.# Question Answer
1 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
2 Cost which is calculated before manufacture operation is called
A. Sunk cost
B. Mixed cost
C. Standard cost
D. None of above
3 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
4 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
5 Historical cost which is irrecoverable in a given situation is called
A. Imputed cost
B. Standard cost
C. Opportunity cost
D. Sunk cost
6 What is accounting period?
A. It is a time for which business prepares its financial statements
B. It is time for which business prepares its profit and loss statement
C. It is a time for which business prepares its balance sheet
D. None
7 From the following statements which one is not true about over applied F.o.H
A. Less from cost of goods sold at normal
B. Less from entire production if required
C. Add in gross profit if required
D. Less from Net profit.
8 Realisation concept is the concept in which revenue is ------------ at the time when goods are sold or services rendered.
A. Recognized
B. Not recognized
C. Paid
D. Received
9 Goodwill is ----------- for company.
A. Intangible asset
B. Fixed asset
C. Current asset
D. Quick asset
10 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

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