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

  • Time Allowed15

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NAT II Management Science Finance & Accounting

00:00
Question # 1

Profit will be lower where prices are rising under

Question # 2

Realisation concept is the concept in which revenue is ------------ at the time when goods are sold or services rendered.

Question # 3

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

Question # 4

The cost flow must match the

Question # 5

During period of rising material prices, ----------- method results in profit inflation

Question # 6

The stages of accounting cycle are

Question # 7

Dishonor of the bill occurs when:

Question # 8

What is accumulated depreciation?

Question # 9

Cost goods sold is Rs. 1650, gross profit ratio is 17.5% then sales is

Question # 10

Which one of the following is not a negotiable instrument?

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    Mehwish 26 - Aug - 2021 01 Min 10 Sec 10/10
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NAT-II Finance & Accounting Chapter 0 Important MCQ's

Sr.# Question Answer
1 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
2 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
3 How many branches are there in accounting?
A. 1
B. 3
C. 2
D. 4
4 Endorsement is made:
A. For settlement of debts
B. For settlement of income
C. For settlement of profit
D. None
5 Accounting is the
A. Art
B. Science
C. Both
D. None
6 Per Unit cost is calculated by dividing the cost of goods sold by
A. The number of units sold
B. The number of units purchase
C. The number of units manufactured
D. All of the above
7 If spoiled good are considered as abnormal part of production process then debited to
A. Work in process
B. General expense
C. F-o-H control
D. None of above
8 In payroll include the remunerations of
A. Direct labour
B. Indirect labour
C. Both a & b
D. None of the above
9 A cost whose magnitude will be affected by decision being made is called
A. Historical cost
B. Relevant cost
C. Irrelevant cost
D. Sunk cost
10 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

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