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

Depreciation expenditure is a

Question # 2

Which one is not accounting convention?

Question # 3

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

Question # 4

How many types of bank accounts are there?

Question # 5

In operating expense includes

Question # 6

Profit will be lower where prices are rising under

Question # 7

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

Question # 8

Provision of doubtful debts are also known as:

Question # 9

What is accumulated depreciation?

Question # 10

From the following statements which one is not true about over applied F.o.H

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

Sr.# Question Answer
1 The ------------- includes a control account entitled general ledger that shows is equity of the general office in the factory.
A. General ledger
B. Head office ledger
C. Factory ledger
D. None of these
2 Which one is not a classification according to the accounting period?
A. Capital expenditure
B. Revenue expenditure
C. Product cost
D. Administrative cost
3 The technique and process of ascertaining cost is termed as
A. Costing
B. Cost accounting
C. Calculation of cost
D. Controlling cost
4 What is accounting period?
A. It is a time for which business prepares its financial statements
B. It is time for which business prepares its profit and loss statement
C. It is a time for which business prepares its balance sheet
D. None
5 During period of rising material prices, ----------- method results in profit inflation
A. LIFO
B. FIFO
C. Weighted average
D. All of the above
6 According to possible for an event or transaction which is not measurable in terms of money
A. True
B. False
C. May be
D. None
7 How many of grace are given?
A. 5
B. 4
C. 3
D. 2
8 If applied factory overhead is less than actual factory overhead, it is called
A. Applied F.o.H
B. Over applied F.o.H
C. Under-applied F.o.H
D. None of above
9 How many branches are there in accounting?
A. 1
B. 3
C. 2
D. 4
10 A property which is received by virtue of a will of a person after his death is known as
A. Legacy
B. Donation
C. Subscription
D. Gift

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