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 ------------- includes a control account entitled general ledger that shows is equity of the general office in the factory.

Question # 2

Excess of assets over liabilities is known as:

Question # 3

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

Question # 4

Difference in cost of alternative choices is called

Question # 5

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

Question # 6

What is accumulated depreciation?

Question # 7

Purchase Requisition is sent to

Question # 8

Outstanding expenses are also known as

Question # 9

Accounting is the

Question # 10

If applied factory overhead is less than actual factory overhead, it is called

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

Sr.# Question Answer
1 The cost flow must watch the
A. Output
B. Outflow
C. Inflow
D. Workflow
2 Cost which is calculated before manufacture operation is called
A. Sunk cost
B. Mixed cost
C. Standard cost
D. None of above
3 According to possible for an event or transaction which is not measurable in terms of money
A. True
B. False
C. May be
D. None
4 Purchase Requisition is sent to
A. Accounts department
B. Purchase department
C. Finance department
D. None of above
5 Good received note is prepared by
A. Purchase department
B. Sales department
C. Receiving department
D. All of the above
6 Which one of the following is not a negotiable instrument?
A. Cheque
B. Promissory note
C. Bill of exchange
D. None of the above
7 Depreciation expenditure is a
A. Fixed cost
B. Variable cost
C. Semi-variable cost
D. Step fixed cost
8 In bill of exchange, the party who accepts a bill is known as:
A. Drawer
B. Drawee
C. Payee
D. Third party
9 Which one is not include in factory overhead?
A. Power hear & light
B. Indirect labour cost
C. Depreciation of plant
D. Salary of accountant
10 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.

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