NAT IIM Management Science Finance & Accounting Online Test for Pakistani Students

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

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

Question # 2

The cost of holding the stock in storage is called

Question # 3

Difference in cost of alternative choices is called

Question # 4

Per Unit cost is calculated by dividing the cost of goods sold by

Question # 5

In payroll include the remunerations of

Question # 6

What is negotiable instrument?

Question # 7

Which one is not a functional classification?

Question # 8

If applied factory overhead is less than actual factory overhead, it is called

Question # 9

The stages of accounting cycle are

Question # 10

Which one is not a classification according to the accounting period?

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

Sr.# Question Answer
1 Cost which is calculated before manufacture operation is called
A. Sunk cost
B. Mixed cost
C. Standard cost
D. None of above
2 Bin card is maintained by
A. Purchase manager
B. Sales manager
C. Store keeper
D. Finance manager
3 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
4 Compound entry is an entry in which:
A. More than one account is debited
B. More than one account is credited
C. Both a and b are correct
D. None of the above
5 The primary objective of cost accounting is to
A. Control cost
B. Calculate profit
C. Avoid cost
D. All of above
6 The cost of holding the stock in storage is called
A. Ordering cost
B. Material cost
C. Caring cost
D. All of the above
7 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
8 Which one of the following is not a negotiable instrument?
A. Cheque
B. Promissory note
C. Bill of exchange
D. None of the above
9 Quick assets are
A. Cash in hand
B. Cash at bank
C. Debtors
D. All of the above
10 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

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