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

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Question # 1

Sales prices is calculated as follow:-

Question # 2

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

Question # 3

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

Question # 4

The primary objective of cost accounting is to

Question # 5

Which one is not accounting convention?

Question # 6

The objective of financial accounting is to ascertain:

Question # 7

Cost which is calculated before manufacture operation is called

Question # 8

What are bad debts?

Question # 9

Which one of the following is not a negotiable instrument?

Question # 10

The cost flow must match the

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

Sr.# Question Answer
1 Statement of a affairs is a sort of -----------
A. Profit and loss statement
B. Nominal account
C. Statement of changes in equity
D. Balance sheet
2 How many types of bank accounts are there?
A. 4
B. 3
C. 5
D. 6
3 The cost flow must watch the
A. Output
B. Outflow
C. Inflow
D. Workflow
4 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
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 a classification according to the accounting period?
A. Capital expenditure
B. Revenue expenditure
C. Product cost
D. Administrative cost
7 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
8 Petty cash book is a book which record
A. Assets
B. Liabilities
C. Large payments
D. Small payments
9 Offsetting expenses against revenue is the concept of:
A. Realization
B. Dual aspect
C. Matching
D. Conventions
10 Tenor is the period of time ------------ which a bill becomes payable
A. Before
B. After
C. Both a and b
D. None

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