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

00:00
Question # 1

Petty cash book is a book which record

Question # 2

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

Question # 3

Which one of the following is not a negotiable instrument?

Question # 4

Depreciation expenditure is a

Question # 5

Work in process opening and closing inventory includes:-

Question # 6

Good received note is prepared by

Question # 7

Compound entry is an entry in which:

Question # 8

Profit will be lower where prices are rising under

Question # 9

Deferred liabilities are debts which are repayable less than ----------

Question # 10

Doubtful debt are:

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

Sr.# Question Answer
1 A--------------- is an account in which those transaction are entered which cannot be placed to their accounts
A. Nominal account
B. Suspense account
C. Personal account
D. Debtor account
2 If spoiled goods are considered a normal part of production process than debit to
A. Work in process
B. General expense
C. F.o.H control
D. None of above
3 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
4 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
5 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
6 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
7 In operating expense includes
A. Marketing expense
B. Admin expense
C. Selling expense
D. All of the above
8 Rebate is the --------- in the amount of bill paid
A. Premium
B. Increase
C. Expense
D. Concession
9 Which one is not a functional classification?
A. Manufacturing cost
B. Marketing cost
C. Finance cost
D. Mixed cost
10 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

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