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

  • Total Questions10

  • Time Allowed15

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NAT II Management Science Finance & Accounting

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Question # 1

Accounts which are related with properties are known as

Question # 2

Rebate is the --------- in the amount of bill paid

Question # 3

Hypothetical cost which are specially computed outside the accounting system for the purpose of decision making is called

Question # 4

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

Question # 5

What is negotiable instrument?

Question # 6

Manufacturing concern cycle is ---------- than trading concern cycle:

Question # 7

According to possible for an event or transaction which is not measurable in terms of money

Question # 8

Which one is not a functional classification?

Question # 9

The bills which are drawn and accepted against the sale and purchase of goods on credits are called

Question # 10

Which one is not accounting convention?

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

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

Sr.# Question Answer
1 The objective of financial accounting is to ascertain:
A. True results of profit
B. True results of loss
C. True results of profit or loss
D. None
2 Material are charged to production at actual cost under
A. Weighted average method
B. FIFO method
C. LIFO method
D. Both ii & iii
3 Which one is non-manufacturing costs?
A. Direct material cost
B. Labour cost
C. Research and development cost
D. All of above
4 If spoiled goods are considered a normal part of production process than debit to
A. Work in process
B. General expense
C. F.o.H control
D. None of above
5 Sales prices is calculated as follow:-
A. Cost + operating expense
B. Direct material + Direct labour + F.o.H
C. Cost + operating expenses + profit
D. None of above
6 Quick assets are
A. Cash in hand
B. Cash at bank
C. Debtors
D. All of the above
7 Deferred liabilities are debts which are repayable less than ----------
A. One month
B. Six month
C. One year
D. None
8 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
9 A property which is received by virtue of a will of a person after his death is known as
A. Legacy
B. Donation
C. Subscription
D. Gift
10 The bills which are drawn and accepted against the sale and purchase of goods on credits are called
A. Trade bills
B. Bill of exchange
C. In-land bills
D. Foreign bills

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