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

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

Question # 2

Purchase Requisition is sent to

Question # 3

Which one of the following is not a negotiable instrument?

Question # 4

Which one is not include in factory overhead?

Question # 5

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

Question # 6

Doubtful debts are shown on:

Question # 7

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

Question # 8

In operating expense includes

Question # 9

Name the main accounts which are prepared in accounting?

Question # 10

Which one is not accounting convention?

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

Sr.# Question Answer
1 Accounts which are related with properties are known as
A. Real accounts
B. Nominal accounts
C. Property accounts
D. A and C are correct Accounting principles:
2 In operating expense includes
A. Marketing expense
B. Admin expense
C. Selling expense
D. All of the above
3 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
4 The cost flow must match the
A. Output
B. Outflow
C. Inflow
D. Workflow
5 Which one is not include in factory overhead?
A. Power hear & light
B. Indirect labour cost
C. Depreciation of plant
D. Salary of accountant
6 Which one is not a classification according to the accounting period?
A. Capital expenditure
B. Revenue expenditure
C. Product cost
D. Administrative cost
7 How many branches are there in accounting?
A. 1
B. 3
C. 2
D. 4
8 What is negotiable instrument?
A. A document which is not transferable
B. A document which is transferable
C. A document which is accepted
D. None
9 Realisation concept is the concept in which revenue is ------------ at the time when goods are sold or services rendered.
A. Recognized
B. Not recognized
C. Paid
D. Received
10 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

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