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

Cost which is calculated before manufacture operation is called

Question # 2

Rebate is the --------- in the amount of bill paid

Question # 3

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

Question # 4

Sales prices is calculated as follow:-

Question # 5

Any written evidence of a business transaction is known as

Question # 6

Offsetting expenses against revenue is the concept of:

Question # 7

Manufacturing concern cycle is ---------- than trading concern cycle:

Question # 8

A property which is received by virtue of a will of a person after his death is known as

Question # 9

In job order costing system, each job is assigned a job cost

Question # 10

How many types of bank accounts are there?

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    Mahnoor Awan 18 - May - 2022 10 Min 50 Sec 6/10
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Sr.# Question Answer
1 Cost which cannot be conveniently identified with individual cost unit is called
A. Direct material cost
B. Indirect material cost
C. Indirect labour cost
D. Caring cost
2 Doubtful debt are:
A. Definite loss to the business
B. Definite profit to the business
C. Expected loss to the business
D. Expected profit to the business
3 Sales prices is calculated as follow:-
A. Cost + operating expense
B. Direct material + Direct labour + F.o.H
C. Cost + operating expenses + profit
D. None of above
4 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
5 How many of grace are given?
A. 5
B. 4
C. 3
D. 2
6 Under perpetual inventory system stock taking is under taken at the
A. Start of the accounting year
B. End of the accounting
C. Regular bases
D. None of above
7 Purchase Requisition is sent to
A. Accounts department
B. Purchase department
C. Finance department
D. None of above
8 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
9 Quick assets are
A. Cash in hand
B. Cash at bank
C. Debtors
D. All of the above
10 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

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