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

00:00
Question # 1

Trading account shows ----------- result.

Question # 2

Any written evidence of a business transaction is known as

Question # 3

Goodwill is ----------- for company.

Question # 4

Manufacturing concern cycle is ---------- than trading concern cycle:

Question # 5

Which one of the following is not a negotiable instrument?

Question # 6

Good received note is prepared by

Question # 7

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

Question # 8

How many of grace are given?

Question # 9

Deferred liabilities are debts which are repayable less than ----------

Question # 10

Realisation concept is the concept in which revenue is ------------ at the time when goods are sold or services rendered.

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

Sr.# Question Answer
1 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
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 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
4 If spoiled goods are considered a normal part of production process than debit to
A. Work in process
B. General expense
C. F.o.H control
D. None of above
5 Lead time is the time between the time on item reaches --------------- and ---------- of
A. Order level, dispatch of material
B. Order level, maximum level
C. Maximum level, minimum level
D. Order level, actual receipt
6 Depreciation expenditure is a
A. Fixed cost
B. Variable cost
C. Semi-variable cost
D. Step fixed cost
7 Cost which is calculated before manufacture operation is called
A. Sunk cost
B. Mixed cost
C. Standard cost
D. None of above
8 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
9 Deferred liabilities are debts which are repayable less than ----------
A. One month
B. Six month
C. One year
D. None
10 Profit will be lower where prices are rising under
A. FIFO method
B. LIFO method
C. Weighted average method
D. All of the above

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