NAT IIM Management Science Finance & Accounting Online Test for Pakistani Students

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

Sr.#	Question	Answer
1	Historical cost which is irrecoverable in a given situation is called	A. Imputed cost B. Standard cost C. Opportunity cost D. Sunk cost
2	Goodwill is ----------- for company.	A. Intangible asset B. Fixed asset C. Current asset D. Quick asset
3	Which one is non-manufacturing costs?	A. Direct material cost B. Labour cost C. Research and development cost D. All of above
4	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
5	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
6	The bills which are drawn and accepted against the sale and purchase of goods on credits are called	A. Trade bills B. Bill of exchange C. In-land bills D. Foreign bills
7	A credit purchases are:	A. If goods purchased and payment made at the same time B. If goods purchased and payment not made at the same time C. If goods sold and payment receive at the same time D. If goods sold and payment not receive at the same time
8	Depreciation is a loss due to wear and tear of an asset.	A. Correct B. Incorrent C. May be D. None
9	Tenor is the period of time ------------ which a bill becomes payable	A. Before B. After C. Both a and b D. None
10	Accounting is the	A. Art B. Science C. Both D. None