NAT IIM Management Science Finance & Accounting Online Test for Pakistani Students

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

Profit will be lower where prices are rising under

Question # 2

Which one is non-manufacturing costs?

Question # 3

Petty cash book is a book which record

Question # 4

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

Question # 5

Under perpetual inventory system stock taking is under taken at the

Question # 6

Provision of doubtful debts are also known as:

Question # 7

Goodwill is ----------- for company.

Question # 8

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

Question # 9

Material are charged to production at actual cost under

Question # 10

Doubtful debt are:

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

Sr.# Question Answer
1 The primary objective of cost accounting is to
A. Control cost
B. Calculate profit
C. Avoid cost
D. All of above
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 Offsetting expenses against revenue is the concept of:
A. Realization
B. Dual aspect
C. Matching
D. Conventions
4 The cost flow must watch the
A. Output
B. Outflow
C. Inflow
D. Workflow
5 How many of grace are given?
A. 5
B. 4
C. 3
D. 2
6 Which one is not include in factory overhead?
A. Power hear & light
B. Indirect labour cost
C. Depreciation of plant
D. Salary of accountant
7 What is accumulated depreciation?
A. Depreciation expense of the current year
B. Sum of all depreciations in different accounting year
C. Depreciations of previous accounting year
D. None
8 Quick assets are
A. Cash in hand
B. Cash at bank
C. Debtors
D. All of the above
9 Depreciation expenditure is a
A. Fixed cost
B. Variable cost
C. Semi-variable cost
D. Step fixed cost
10 How many types of inventories are in cost of goods sold statement?
A. 1
B. 2
C. 3
D. 4

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