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

Name the main accounts which are prepared in accounting?

Question # 2

Which one is not accounting convention?

Question # 3

Sales prices is calculated as follow:-

Question # 4

Under perpetual inventory system stock taking is under taken at the

Question # 5

Office salaries are include in

Question # 6

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

Question # 7

Compound entry is an entry in which:

Question # 8

How many branches are there in accounting?

Question # 9

Depreciation is a loss due to wear and tear of an asset.

Question # 10

Material are charged to production at actual cost under

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

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    Maya Kumari 08 - Jun - 2022 00 Min 39 Sec 10/10
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    Mehwish 26 - Aug - 2021 01 Min 10 Sec 10/10
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    Waleed mazhar 30 - Jul - 2022 00 Min 32 Sec 9/10
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NAT-II Finance & Accounting Chapter 0 Important MCQ's

Sr.# Question Answer
1 Quick assets are
A. Cash in hand
B. Cash at bank
C. Debtors
D. All of the above
2 Depreciation expenditure is a
A. Fixed cost
B. Variable cost
C. Semi-variable cost
D. Step fixed cost
3 Historical cost which is irrecoverable in a given situation is called
A. Imputed cost
B. Standard cost
C. Opportunity cost
D. Sunk cost
4 Outstanding expenses are also known as
A. Prepared expenses
B. Accrued expenses
C. Un-earned income
D. None
5 Manufacturing concern cycle is ---------- than trading concern cycle:
A. Shorter
B. Greater
C. Medium
D. None of above
6 Provision of doubtful debts are also known as:
A. Allowances for uncollectable
B. Allowances for collectable
C. Bad debts
D. None
7 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
8 In bill of exchange, the party who accepts a bill is known as:
A. Drawer
B. Drawee
C. Payee
D. Third party
9 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
10 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

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