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

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

Question # 2

Office salaries are include in

Question # 3

A person is said to be insolvent when his

Question # 4

Material are charged to production at actual cost under

Question # 5

Accounts which are related with properties are known as

Question # 6

The bills which are drawn and accepted against the sale and purchase of goods on credits are called

Question # 7

Variable cost and fixed cost have been treated as product cost in

Question # 8

Hypothetical cost which are specially computed outside the accounting system for the purpose of decision making is called

Question # 9

What is accounting period?

Question # 10

The cost of holding the stock in storage is called

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Top Scorers Of NAT II Management Science Finance & Accounting MCQ`s Test

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

Sr.# Question Answer
1 Cost which is calculated before manufacture operation is called
A. Sunk cost
B. Mixed cost
C. Standard cost
D. None of above
2 Debentures are
A. Fixed assets
B. Fixed liabilities
C. Capital
D. Prepaid expenses
3 The objective of financial accounting is to ascertain:
A. True results of profit
B. True results of loss
C. True results of profit or loss
D. None
4 Deferred liabilities are debts which are repayable less than ----------
A. One month
B. Six month
C. One year
D. None
5 Spoiled goods cannot be
A. Sold without repairing
B. Repair and sold as damaged goods
C. Both A and B
D. None of above
6 Doubtful debt are:
A. Definite loss to the business
B. Definite profit to the business
C. Expected loss to the business
D. Expected profit to the business
7 A--------------- is an account in which those transaction are entered which cannot be placed to their accounts
A. Nominal account
B. Suspense account
C. Personal account
D. Debtor account
8 Endorsement is made:
A. For settlement of debts
B. For settlement of income
C. For settlement of profit
D. None
9 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
10 In payroll include the remunerations of
A. Direct labour
B. Indirect labour
C. Both a & b
D. None of the above

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