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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  • Time Allowed15

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NAT II Management Science Finance & Accounting

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Question # 1

Cost goods sold is Rs. 1650, gross profit ratio is 17.5% then sales is

Question # 2

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

Question # 3

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

Question # 4

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

Question # 5

Which ratio tells how many times in a year stock is used up and replaced?

Question # 6

Offsetting expenses against revenue is the concept of:

Question # 7

How many types of bank accounts are there?

Question # 8

What is accumulated depreciation?

Question # 9

Doubtful debt are:

Question # 10

The primary objective of cost accounting is to

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

Sr.# Question Answer
1 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
2 Dishonor of the bill occurs when:
A. The drawer refuse to pay
B. The acceptor refuses to meet the bill on due date
C. The endorsee accepts to meet the bill
D. None
3 What are accrued expenses?
A. The expenses that have been incurred during current year and paid till the end of current year
B. The expenses that have been incurred previous year and paid in the current year
C. The expenses that have been incurred during current year and not paid till the end of current year
D. The expenses that have been incurred previous year and not paid till the end of current year
4 Outstanding expenses are also known as
A. Prepared expenses
B. Accrued expenses
C. Un-earned income
D. None
5 Depreciation expenditure is a
A. Fixed cost
B. Variable cost
C. Semi-variable cost
D. Step fixed cost
6 Office salaries are include in
A. Direct material cost
B. Indirect material cost
C. Factory overhead cost
D. Total payroll
7 Section of the business to which cost can be charged is termed as
A. Cost driver
B. Cost center
C. Cost unit
D. All of above
8 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
9 Which one is not a functional classification?
A. Manufacturing cost
B. Marketing cost
C. Finance cost
D. Mixed cost
10 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

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