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

Top Scorers Of NAT II Management Science Finance & Accounting MCQ`s Test

Sr.#	Question	Answer
1	Loss which arises due to ----------- is known as abnormal loss	A. Breakage of goods B. Leakage C. Fire D. Shrinkage
2	From the following statements which one is not true about over applied F.o.H	A. Less from cost of goods sold at normal B. Less from entire production if required C. Add in gross profit if required D. Less from Net profit.
3	Spoiled goods cannot be	A. Sold without repairing B. Repair and sold as damaged goods C. Both A and B D. None of above
4	Accounting is the	A. Art B. Science C. Both D. None
5	How many branches are there in accounting?	A. 1 B. 3 C. 2 D. 4
6	Outstanding expenses are also known as	A. Prepared expenses B. Accrued expenses C. Un-earned income D. None
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	Purchase Requisition is sent to	A. Accounts department B. Purchase department C. Finance department D. None of above
9	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
10	The primary objective of cost accounting is to	A. Control cost B. Calculate profit C. Avoid cost D. All of above