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

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NAT II Management Science Finance & Accounting

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Question # 1

Petty cash book is a book which record

Question # 2

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

Question # 3

In bill of exchange, the party who accepts a bill is known as:

Question # 4

Doubtful debts are shown on:

Question # 5

In payroll include the remunerations of

Question # 6

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

Question # 7

Under perpetual inventory system stock taking is under taken at the

Question # 8

The technique and process of ascertaining cost is termed as

Question # 9

Loss which arises due to ----------- is known as abnormal loss

Question # 10

Offsetting expenses against revenue is the concept of:

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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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Sr.# Question Answer
1 Quick assets are
A. Cash in hand
B. Cash at bank
C. Debtors
D. All of the above
2 Assets which have to no market value are called
A. Fictitious assets
B. Liquid assets
C. Intangible assets
D. Real assets
3 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
4 How many types of bank accounts are there?
A. 4
B. 3
C. 5
D. 6
5 Which one of the following is not a negotiable instrument?
A. Cheque
B. Promissory note
C. Bill of exchange
D. None of the above
6 Excess of assets over liabilities is known as:
A. Capital fund
B. Accumulated fund
C. Surplus fund
D. All options are correct
7 Material are charged to production at actual cost under
A. Weighted average method
B. FIFO method
C. LIFO method
D. Both ii & iii
8 Under perpetual inventory system stock taking is under taken at the
A. Start of the accounting year
B. End of the accounting
C. Regular bases
D. None of above
9 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
10 Petty cash book is a book which record
A. Assets
B. Liabilities
C. Large payments
D. Small payments

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