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

The objective of financial accounting is to ascertain:

Question # 2

Under perpetual inventory system stock taking is under taken at the

Question # 3

How many types of bank accounts are there?

Question # 4

Depreciation expenditure is a

Question # 5

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

Question # 6

Loss which arises due to ----------- is known as abnormal loss

Question # 7

How many of grace are given?

Question # 8

The price at which assets will be sold at the end of its useful life is known as:

Question # 9

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

Question # 10

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

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

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  • M
    Mehwish 26 - Aug - 2021 01 Min 10 Sec 10/10
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NAT-II Finance & Accounting Chapter 0 Important MCQ's

Sr.# Question Answer
1 Deferred liabilities are debts which are repayable less than ----------
A. One month
B. Six month
C. One year
D. None
2 Historical cost which is irrecoverable in a given situation is called
A. Imputed cost
B. Standard cost
C. Opportunity cost
D. Sunk cost
3 Good received note is prepared by
A. Purchase department
B. Sales department
C. Receiving department
D. All of the above
4 Which ratio tells how many times in a year stock is used up and replaced?
A. Gross profit ratio
B. Net profit ratio
C. Cost ratio
D. None of these
5 Depreciation expenditure is a
A. Fixed cost
B. Variable cost
C. Semi-variable cost
D. Step fixed cost
6 What is amortization?
A. Decrease in the value of fixed assets
B. Decrease in the value of intangible assets
C. Increase in the value of fixed assets
D. Increase in the value of intangible assets
7 A person is said to be insolvent when his
A. Assets are sufficient
B. Assets are enough to pay his liabilities
C. Assets are not enough to pay his liabilities
D. None
8 What is negotiable instrument?
A. A document which is not transferable
B. A document which is transferable
C. A document which is accepted
D. None
9 In bill of exchange, the party who accepts a bill is known as:
A. Drawer
B. Drawee
C. Payee
D. Third party
10 In job order costing system, each job is assigned a job cost
A. Unit
B. Center
C. Driver
D. Sheet

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