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

Dishonor of the bill occurs when:

Question # 2

The cost of holding the stock in storage is called

Question # 3

A cost whose magnitude will be affected by decision being made is called

Question # 4

If spoiled goods are considered a normal part of production process than debit to

Question # 5

A--------------- is an account in which those transaction are entered which cannot be placed to their accounts

Question # 6

Under perpetual inventory system stock taking is under taken at the

Question # 7

Which one is not a functional classification?

Question # 8

How many types of inventories are in cost of goods sold statement?

Question # 9

In operating expense includes

Question # 10

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

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

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

Sr.# Question Answer
1 Material are charged to production at actual cost under
A. Weighted average method
B. FIFO method
C. LIFO method
D. Both ii & iii
2 How many types of bank accounts are there?
A. 4
B. 3
C. 5
D. 6
3 Outstanding expenses are also known as
A. Prepared expenses
B. Accrued expenses
C. Un-earned income
D. None
4 Assets which have to no market value are called
A. Fictitious assets
B. Liquid assets
C. Intangible assets
D. Real assets
5 In job order costing system, each job is assigned a job cost
A. Unit
B. Center
C. Driver
D. Sheet
6 Which one is not include in factory overhead?
A. Power hear & light
B. Indirect labour cost
C. Depreciation of plant
D. Salary of accountant
7 Depreciation is a loss due to wear and tear of an asset.
A. Correct
B. Incorrent
C. May be
D. None
8 Per Unit cost is calculated by dividing the cost of goods sold by
A. The number of units sold
B. The number of units purchase
C. The number of units manufactured
D. All of the above
9 Endorsement is made:
A. For settlement of debts
B. For settlement of income
C. For settlement of profit
D. None
10 Work in process opening and closing inventory includes:-
A. Arterial in process
B. Labour in process
C. F.o.H in process
D. All of the above

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