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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  • 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

Work in process opening and closing inventory includes:-

Question # 3

The cost flow must match the

Question # 4

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

Question # 5

A person is said to be insolvent when his

Question # 6

Outstanding expenses are also known as

Question # 7

What is accumulated depreciation?

Question # 8

Trading account shows ----------- result.

Question # 9

Sales prices is calculated as follow:-

Question # 10

Compound entry is an entry in which:

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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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    Waleed mazhar 30 - Jul - 2022 00 Min 32 Sec 9/10
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    mehwish Malik 24 - Apr - 2023 10 Min 50 Sec 6/10
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    Shahkar Afridi 29 - May - 2022 10 Min 50 Sec 6/10
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NAT-II Finance & Accounting Chapter 0 Important MCQ's

Sr.# Question Answer
1 Dishonor of the bill occurs when:
A. The drawer refuse to pay
B. The acceptor refuses to meet the bill on due date
C. The endorsee accepts to meet the bill
D. None
2 Which ratio tells how many times in a year stock is used up and replaced?
A. Gross profit ratio
B. Net profit ratio
C. Cost ratio
D. None of these
3 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
4 Excess of assets over liabilities is known as:
A. Capital fund
B. Accumulated fund
C. Surplus fund
D. All options are correct
5 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
6 The ------------- includes a control account entitled general ledger that shows is equity of the general office in the factory.
A. General ledger
B. Head office ledger
C. Factory ledger
D. None of these
7 The cost flow must match the
A. Output
B. Outflow
C. Inflow
D. Workflow
8 Historical cost which is irrecoverable in a given situation is called
A. Imputed cost
B. Standard cost
C. Opportunity cost
D. Sunk cost
9 Which one of the following is not a negotiable instrument?
A. Cheque
B. Promissory note
C. Bill of exchange
D. None of the above
10 Section of the business to which cost can be charged is termed as
A. Cost driver
B. Cost center
C. Cost unit
D. All of above

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