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

The primary object of non-profit organizations is

Question # 2

Debentures are

Question # 3

Excess of assets over liabilities is known as:

Question # 4

Lead time is the time between the time on item reaches --------------- and ---------- of

Question # 5

Office salaries are include in

Question # 6

Any written evidence of a business transaction is known as

Question # 7

In operating expense includes

Question # 8

Provision of doubtful debts are also known as:

Question # 9

The bills which are drawn and accepted against the sale and purchase of goods on credits are called

Question # 10

Hypothetical cost which are specially computed outside the accounting system for the purpose of decision making is called

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Top Scorers Of NAT II Management Science Finance & Accounting MCQ`s Test

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    Maya Kumari 08 - Jun - 2022 00 Min 39 Sec 10/10
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    Mehwish 26 - Aug - 2021 01 Min 10 Sec 10/10
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NAT-II Class Finance & Accounting Chapter 0 Important MCQ's

Sr.# Question Answer
1 During period of rising material prices, ----------- method results in profit inflation
A. LIFO
B. FIFO
C. Weighted average
D. All of the above
2 Deferred liabilities are debts which are repayable less than ----------
A. One month
B. Six month
C. One year
D. None
3 Spoiled goods cannot be
A. Sold without repairing
B. Repair and sold as damaged goods
C. Both A and B
D. None of above
4 Which one is not a classification according to the accounting period?
A. Capital expenditure
B. Revenue expenditure
C. Product cost
D. Administrative cost
5 Any written evidence of a business transaction is known as
A. Voucher
B. Pay-in-slip
C. Debit note
D. Credit note
6 Cost goods sold is Rs. 1650, gross profit ratio is 17.5% then sales is
A. 1800
B. 1900
C. 2000
D. 2200
7 How many branches are there in accounting?
A. 1
B. 3
C. 2
D. 4
8 Material are charged to production at actual cost under
A. Weighted average method
B. FIFO method
C. LIFO method
D. Both ii & iii
9 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
10 From the following statements which one is not true about over applied F.o.H
A. Less from cost of goods sold at normal
B. Less from entire production if required
C. Add in gross profit if required
D. Less from Net profit.

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