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

Spoiled goods cannot be

Question # 2

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

Question # 3

What is negotiable instrument?

Question # 4

Endorsement is made:

Question # 5

Tenor is the period of time ------------ which a bill becomes payable

Question # 6

What are accrued expenses?

Question # 7

Which one is not accounting convention?

Question # 8

Which one is not include in factory overhead?

Question # 9

Compound entry is an entry in which:

Question # 10

Office salaries are include in

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

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    Maya Kumari 08 - Jun - 2022 00 Min 39 Sec 10/10
  • M
    Mehwish 26 - Aug - 2021 01 Min 10 Sec 10/10
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    Waleed mazhar 30 - Jul - 2022 00 Min 32 Sec 9/10
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NAT-II Finance & Accounting Chapter 0 Important MCQ's

Sr.# Question Answer
1 Cost goods sold is Rs. 1650, gross profit ratio is 17.5% then sales is
A. 1800
B. 1900
C. 2000
D. 2200
2 Cash or goods taken away by owner for personal use from business are known as:
A. Capital
B. Drawings
C. Revenue
D. Expense
3 Dishonor of the bill occurs when:
A. The drawer refuse to pay
B. The acceptor refuses to meet the bill on due date
C. The endorsee accepts to meet the bill
D. None
4 A person is said to be insolvent when his
A. Assets are sufficient
B. Assets are enough to pay his liabilities
C. Assets are not enough to pay his liabilities
D. None
5 How many types of bank accounts are there?
A. 4
B. 3
C. 5
D. 6
6 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
7 Trading account shows ----------- result.
A. Net
B. Gross
C. Profit
D. Loss
8 What are accrued expenses?
A. The expenses that have been incurred during current year and paid till the end of current year
B. The expenses that have been incurred previous year and paid in the current year
C. The expenses that have been incurred during current year and not paid till the end of current year
D. The expenses that have been incurred previous year and not paid till the end of current year
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 Costs whose consumption may be identified with specific production units in called
A. Direct labour cost
B. Indirect labour cost
C. Direct material cost
D. Indirect material cost

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