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

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NAT II Management Science Finance & Accounting

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Question # 1

How many of grace are given?

Question # 2

If spoiled good are considered as abnormal part of production process then debited to

Question # 3

Quick assets are

Question # 4

What are accrued expenses?

Question # 5

Compound entry is an entry in which:

Question # 6

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

Question # 7

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

Question # 8

Statement of a affairs is a sort of -----------

Question # 9

Accounting is the

Question # 10

Material are charged to production at actual cost under

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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
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    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 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
2 The primary object of non-profit organizations is
A. Not to earn profit
B. Work for the welfare of society
C. Buy/sell goods
D. A and B but not C
3 Hypothetical cost which are specially computed outside the accounting system for the purpose of decision making is called
A. Future cost
B. Replacement cost
C. Imputed cost
D. Sunk cost
4 Purchase Requisition is sent to
A. Accounts department
B. Purchase department
C. Finance department
D. None of above
5 What is amortization?
A. Decrease in the value of fixed assets
B. Decrease in the value of intangible assets
C. Increase in the value of fixed assets
D. Increase in the value of intangible assets
6 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
7 Accounts which are related with properties are known as
A. Real accounts
B. Nominal accounts
C. Property accounts
D. A and C are correct Accounting principles:
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 During period of rising material prices, ----------- method results in profit inflation
A. LIFO
B. FIFO
C. Weighted average
D. All of the above
10 Offsetting expenses against revenue is the concept of:
A. Realization
B. Dual aspect
C. Matching
D. Conventions

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