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

How many branches are there in accounting?

Question # 2

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

Question # 3

The price at which assets will be sold at the end of its useful life is known as:

Question # 4

Sales prices is calculated as follow:-

Question # 5

The cost flow must match the

Question # 6

Work in process opening and closing inventory includes:-

Question # 7

Which one of the following is not a negotiable instrument?

Question # 8

Petty cash book is a book which record

Question # 9

What is negotiable instrument?

Question # 10

If applied factory overhead is less than actual factory overhead, it is called

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

Sr.# Question Answer
1 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
2 What are bad debts?
A. Debts which are irrecoverable from the debtors
B. Debts which are recoverable from the debtors
C. Debts which are irrecoverable from the creditors
D. Debts which are recoverable from the creditors
3 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
4 The cost of holding the stock in storage is called
A. Ordering cost
B. Material cost
C. Caring cost
D. All of the 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 Office salaries are include in
A. Direct material cost
B. Indirect material cost
C. Factory overhead cost
D. Total payroll
7 A person is said to be insolvent when his
A. Assets are sufficient
B. Assets are enough to pay his liabilities
C. Assets are not enough to pay his liabilities
D. None
8 Profit will be lower where prices are rising under
A. FIFO method
B. LIFO method
C. Weighted average method
D. All of the above
9 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
10 Tenor is the period of time ------------ which a bill becomes payable
A. Before
B. After
C. Both a and b
D. None

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