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

In operating expense includes

Question # 2

Which one is not a functional classification?

Question # 3

In job order costing system, each job is assigned a job cost

Question # 4

Difference in cost of alternative choices is called

Question # 5

The ------------- includes a control account entitled general ledger that shows is equity of the general office in the factory.

Question # 6

Compound entry is an entry in which:

Question # 7

The primary objective of cost accounting is to

Question # 8

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

Question # 9

How many types of bank accounts are there?

Question # 10

Sales prices is calculated as follow:-

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

Sr.# Question Answer
1 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
2 Variable cost and fixed cost have been treated as product cost in
A. Absorption costing
B. Direct costing
C. Full costing
D. All of above
3 The primary objective of cost accounting is to
A. Control cost
B. Calculate profit
C. Avoid cost
D. All of above
4 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.
5 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
6 Good received note is prepared by
A. Purchase department
B. Sales department
C. Receiving department
D. All of the above
7 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
8 Purchase Requisition is sent to
A. Accounts department
B. Purchase department
C. Finance department
D. None of above
9 How many branches are there in accounting?
A. 1
B. 3
C. 2
D. 4
10 Treble column cash book has three columns of:
A. Cash, bank and discount
B. Income, expense and bank
C. Cash, bank and profit or loss
D. None

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