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

Which one is non-manufacturing costs?

Question # 2

Excess of assets over liabilities is known as:

Question # 3

Material are charged to production at actual cost under

Question # 4

The stages of accounting cycle are

Question # 5

Depreciation expenditure is a

Question # 6

Variable cost and fixed cost have been treated as product cost in

Question # 7

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

Question # 8

Accounting is the

Question # 9

Per Unit cost is calculated by dividing the cost of goods sold by

Question # 10

Profit will be lower where prices are rising under

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

Sr.# Question Answer
1 Rebate is the --------- in the amount of bill paid
A. Premium
B. Increase
C. Expense
D. Concession
2 Doubtful debts are shown on:
A. Profit side of statement of profit and loss
B. Liabilities side of balance sheet
C. Asset side of balance sheet
D. Not shown anywhere
3 The stages of accounting cycle are
A. Transaction-ledger-journal-trial balance-final accounts
B. Transaction-journal-ledger-trial balance-final accounts
C. Transaction-journal-trial balance-ledger-final accounts
D. Transaction-journal-ledger-final accounts-trial balance
4 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
5 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
6 Statement of a affairs is a sort of -----------
A. Profit and loss statement
B. Nominal account
C. Statement of changes in equity
D. Balance sheet
7 Tenor is the period of time ------------ which a bill becomes payable
A. Before
B. After
C. Both a and b
D. None
8 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
9 Depreciation expenditure is a
A. Fixed cost
B. Variable cost
C. Semi-variable cost
D. Step fixed cost
10 Endorsement is made:
A. For settlement of debts
B. For settlement of income
C. For settlement of profit
D. None

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