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

From the following statements which one is not true about over applied F.o.H

Question # 2

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

Question # 3

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

Question # 4

Office salaries are include in

Question # 5

Petty cash book is a book which record

Question # 6

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

Question # 7

Quick assets are

Question # 8

A person is said to be insolvent when his

Question # 9

Statement of a affairs is a sort of -----------

Question # 10

A credit purchases are:

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

Sr.# Question Answer
1 How many types of bank accounts are there?
A. 4
B. 3
C. 5
D. 6
2 Rebate is the --------- in the amount of bill paid
A. Premium
B. Increase
C. Expense
D. Concession
3 During period of rising material prices, ----------- method results in profit inflation
A. LIFO
B. FIFO
C. Weighted average
D. All of the above
4 Accounts which are related with properties are known as
A. Real accounts
B. Nominal accounts
C. Property accounts
D. A and C are correct Accounting principles:
5 What is amortization?
A. Decrease in the value of fixed assets
B. Decrease in the value of intangible assets
C. Increase in the value of fixed assets
D. Increase in the value of intangible assets
6 The objective of financial accounting is to ascertain:
A. True results of profit
B. True results of loss
C. True results of profit or loss
D. None
7 Goodwill is ----------- for company.
A. Intangible asset
B. Fixed asset
C. Current asset
D. Quick asset
8 What is accounting period?
A. It is a time for which business prepares its financial statements
B. It is time for which business prepares its profit and loss statement
C. It is a time for which business prepares its balance sheet
D. None
9 The cost of holding the stock in storage is called
A. Ordering cost
B. Material cost
C. Caring cost
D. All of the above
10 What is accumulated depreciation?
A. Depreciation expense of the current year
B. Sum of all depreciations in different accounting year
C. Depreciations of previous accounting year
D. None

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