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

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Question # 1

Which one is non-manufacturing costs?

Question # 2

The cost of holding the stock in storage is called

Question # 3

Difference in cost of alternative choices is called

Question # 4

Accounting is the

Question # 5

Name the main accounts which are prepared in accounting?

Question # 6

Depreciation expenditure is a

Question # 7

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

Question # 8

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

Question # 9

What is accumulated depreciation?

Question # 10

Section of the business to which cost can be charged is termed as

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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 A property which is received by virtue of a will of a person after his death is known as
A. Legacy
B. Donation
C. Subscription
D. Gift
2 The bills which are drawn and accepted against the sale and purchase of goods on credits are called
A. Trade bills
B. Bill of exchange
C. In-land bills
D. Foreign bills
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 Realisation concept is the concept in which revenue is ------------ at the time when goods are sold or services rendered.
A. Recognized
B. Not recognized
C. Paid
D. Received
5 If applied factory overhead is less than actual factory overhead, it is called
A. Applied F.o.H
B. Over applied F.o.H
C. Under-applied F.o.H
D. None of above
6 How many types of bank accounts are there?
A. 4
B. 3
C. 5
D. 6
7 Goodwill is ----------- for company.
A. Intangible asset
B. Fixed asset
C. Current asset
D. Quick asset
8 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
9 Assets which have to no market value are called
A. Fictitious assets
B. Liquid assets
C. Intangible assets
D. Real assets
10 The primary object of non-profit organizations is
A. Not to earn profit
B. Work for the welfare of society
C. Buy/sell goods
D. A and B but not C

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