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

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NAT II Management Science Finance & Accounting

00:00
Question # 1

According to possible for an event or transaction which is not measurable in terms of money

Question # 2

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

Question # 3

Work in process opening and closing inventory includes:-

Question # 4

A--------------- is an account in which those transaction are entered which cannot be placed to their accounts

Question # 5

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

Question # 6

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

Question # 7

What is accumulated depreciation?

Question # 8

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

Question # 9

Under perpetual inventory system stock taking is under taken at the

Question # 10

Depreciation expenditure is a

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

Sr.# Question Answer
1 The technique and process of ascertaining cost is termed as
A. Costing
B. Cost accounting
C. Calculation of cost
D. Controlling cost
2 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
3 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
4 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
5 Which one is not include in factory overhead?
A. Power hear & light
B. Indirect labour cost
C. Depreciation of plant
D. Salary of accountant
6 During period of rising material prices, ----------- method results in profit inflation
A. LIFO
B. FIFO
C. Weighted average
D. All of the above
7 Office salaries are include in
A. Direct material cost
B. Indirect material cost
C. Factory overhead cost
D. Total payroll
8 Quick assets are
A. Cash in hand
B. Cash at bank
C. Debtors
D. All of the above
9 Compound entry is an entry in which:
A. More than one account is debited
B. More than one account is credited
C. Both a and b are correct
D. None of the above
10 In operating expense includes
A. Marketing expense
B. Admin expense
C. Selling expense
D. All of the above

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