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

Bin card is maintained by

Question # 2

Good received note is prepared by

Question # 3

Cash or goods taken away by owner for personal use from business are known as:

Question # 4

Which one is not a functional classification?

Question # 5

Which one is non-manufacturing costs?

Question # 6

A person is said to be insolvent when his

Question # 7

What is amortization?

Question # 8

Trading account shows ----------- result.

Question # 9

How many branches are there in accounting?

Question # 10

The stages of accounting cycle are

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

Sr.# Question Answer
1 Lead time is the time between the time on item reaches --------------- and ---------- of
A. Order level, dispatch of material
B. Order level, maximum level
C. Maximum level, minimum level
D. Order level, actual receipt
2 The ------------- includes a control account entitled general ledger that shows is equity of the general office in the factory.
A. General ledger
B. Head office ledger
C. Factory ledger
D. None of these
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 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 Cost which is calculated before manufacture operation is called
A. Sunk cost
B. Mixed cost
C. Standard cost
D. None of above
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 The technique and process of ascertaining cost is termed as
A. Costing
B. Cost accounting
C. Calculation of cost
D. Controlling cost
8 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
9 The bills which are drawn and accepted against the sale and purchase of goods on credits are called
A. Trade bills
B. Bill of exchange
C. In-land bills
D. Foreign bills
10 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

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