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

Lead time is the time between the time on item reaches --------------- and ---------- of

Question # 3

Goodwill is ----------- for company.

Question # 4

Which one is not a classification according to the accounting period?

Question # 5

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

Question # 6

Depreciation is a loss due to wear and tear of an asset.

Question # 7

Compound entry is an entry in which:

Question # 8

Good received note is prepared by

Question # 9

Deferred liabilities are debts which are repayable less than ----------

Question # 10

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

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

Sr.# Question Answer
1 Realisation concept is the concept in which revenue is ------------ at the time when goods are sold or services rendered.
A. Recognized
B. Not recognized
C. Paid
D. Received
2 A cost whose magnitude will be affected by decision being made is called
A. Historical cost
B. Relevant cost
C. Irrelevant cost
D. Sunk cost
3 Endorsement is made:
A. For settlement of debts
B. For settlement of income
C. For settlement of profit
D. None
4 Cost goods sold is Rs. 1650, gross profit ratio is 17.5% then sales is
A. 1800
B. 1900
C. 2000
D. 2200
5 What is accumulated depreciation?
A. Depreciation expense of the current year
B. Sum of all depreciations in different accounting year
C. Depreciations of previous accounting year
D. None
6 Goodwill is ----------- for company.
A. Intangible asset
B. Fixed asset
C. Current asset
D. Quick asset
7 The technique and process of ascertaining cost is termed as
A. Costing
B. Cost accounting
C. Calculation of cost
D. Controlling cost
8 Which one is not include in factory overhead?
A. Power hear & light
B. Indirect labour cost
C. Depreciation of plant
D. Salary of accountant
9 Debentures are
A. Fixed assets
B. Fixed liabilities
C. Capital
D. Prepaid expenses
10 The cost of holding the stock in storage is called
A. Ordering cost
B. Material cost
C. Caring cost
D. All of the above

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