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

The primary objective of cost accounting is to

Question # 2

The cost of holding the stock in storage is called

Question # 3

What is amortization?

Question # 4

Section of the business to which cost can be charged is termed as

Question # 5

How many branches are there in accounting?

Question # 6

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

Question # 7

What are bad debts?

Question # 8

The primary object of non-profit organizations is

Question # 9

During period of rising material prices, ----------- method results in profit inflation

Question # 10

Accounting is the

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

Sr.# Question Answer
1 Depreciation is a loss due to wear and tear of an asset.
A. Correct
B. Incorrent
C. May be
D. None
2 If spoiled good are considered as abnormal part of production process then debited to
A. Work in process
B. General expense
C. F-o-H control
D. None of above
3 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
4 Per Unit cost is calculated by dividing the cost of goods sold by
A. The number of units sold
B. The number of units purchase
C. The number of units manufactured
D. All of the above
5 Cost which cannot be conveniently identified with individual cost unit is called
A. Direct material cost
B. Indirect material cost
C. Indirect labour cost
D. Caring cost
6 Offsetting expenses against revenue is the concept of:
A. Realization
B. Dual aspect
C. Matching
D. Conventions
7 Which one of the following is not a negotiable instrument?
A. Cheque
B. Promissory note
C. Bill of exchange
D. None of the above
8 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
9 Which one is not accounting convention?
A. Materiality
B. Full disclosure
C. Consistency
D. Going concern
10 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

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