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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NAT II Management Science Finance & Accounting

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Question # 1

Name the main accounts which are prepared in accounting?

Question # 2

Which one of the following is not a negotiable instrument?

Question # 3

Accounts which are related with properties are known as

Question # 4

Provision of doubtful debts are also known as:

Question # 5

Realisation concept is the concept in which revenue is ------------ at the time when goods are sold or services rendered.

Question # 6

Purchase Requisition is sent to

Question # 7

In bill of exchange, the party who accepts a bill is known as:

Question # 8

Which ratio tells how many times in a year stock is used up and replaced?

Question # 9

Offsetting expenses against revenue is the concept of:

Question # 10

Accounting is the

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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 Which one is not accounting convention?
A. Materiality
B. Full disclosure
C. Consistency
D. Going concern
3 Lead time is the time between the time on item reaches --------------- and ---------- of
A. Order level, dispatch of material
B. Order level, maximum level
C. Maximum level, minimum level
D. Order level, actual receipt
4 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
5 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.
6 Petty cash book is a book which record
A. Assets
B. Liabilities
C. Large payments
D. Small payments
7 The cost of holding the stock in storage is called
A. Ordering cost
B. Material cost
C. Caring cost
D. All of the above
8 If applied factory overhead is less than actual factory overhead, it is called
A. Applied F.o.H
B. Over applied F.o.H
C. Under-applied F.o.H
D. None of above
9 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
10 How many branches are there in accounting?
A. 1
B. 3
C. 2
D. 4

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