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

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Question # 1

Which one is not accounting convention?

Question # 2

Loss which arises due to ----------- is known as abnormal loss

Question # 3

A person is said to be insolvent when his

Question # 4

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

Question # 5

Outstanding expenses are also known as

Question # 6

The cost flow must watch the

Question # 7

Material are charged to production at actual cost under

Question # 8

Under perpetual inventory system stock taking is under taken at the

Question # 9

What are bad debts?

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 What is negotiable instrument?
A. A document which is not transferable
B. A document which is transferable
C. A document which is accepted
D. None
2 In bill of exchange, the party who accepts a bill is known as:
A. Drawer
B. Drawee
C. Payee
D. Third party
3 The cost of holding the stock in storage is called
A. Ordering cost
B. Material cost
C. Caring cost
D. All of the above
4 Tenor is the period of time ------------ which a bill becomes payable
A. Before
B. After
C. Both a and b
D. None
5 Good received note is prepared by
A. Purchase department
B. Sales department
C. Receiving department
D. All of the above
6 Goodwill is ----------- for company.
A. Intangible asset
B. Fixed asset
C. Current asset
D. Quick asset
7 Work in process opening and closing inventory includes:-
A. Arterial in process
B. Labour in process
C. F.o.H in process
D. All of the above
8 Which one is non-manufacturing costs?
A. Direct material cost
B. Labour cost
C. Research and development cost
D. All of above
9 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
10 How many types of inventories are in cost of goods sold statement?
A. 1
B. 2
C. 3
D. 4

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