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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NAT II Management Science Finance & Accounting

00:00
Question # 1

Any written evidence of a business transaction is known as

Question # 2

Doubtful debt are:

Question # 3

The objective of financial accounting is to ascertain:

Question # 4

Compound entry is an entry in which:

Question # 5

Endorsement is made:

Question # 6

A cost whose magnitude will be affected by decision being made is called

Question # 7

According to possible for an event or transaction which is not measurable in terms of money

Question # 8

Manufacturing concern cycle is ---------- than trading concern cycle:

Question # 9

The cost of holding the stock in storage is called

Question # 10

A person is said to be insolvent when his

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

Sr.# Question Answer
1 The stages of accounting cycle are
A. Transaction-ledger-journal-trial balance-final accounts
B. Transaction-journal-ledger-trial balance-final accounts
C. Transaction-journal-trial balance-ledger-final accounts
D. Transaction-journal-ledger-final accounts-trial balance
2 Difference in cost of alternative choices is called
A. Total costing
B. Differential costing
C. Full costing
D. Variable costing
3 The primary objective of cost accounting is to
A. Control cost
B. Calculate profit
C. Avoid cost
D. All of above
4 Lead time is the time between the time on item reaches --------------- and ---------- of
A. Order level, dispatch of material
B. Order level, maximum level
C. Maximum level, minimum level
D. Order level, actual receipt
5 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
6 Which one is not include in factory overhead?
A. Power hear & light
B. Indirect labour cost
C. Depreciation of plant
D. Salary of accountant
7 Purchase Requisition is sent to
A. Accounts department
B. Purchase department
C. Finance department
D. None of above
8 Cash or goods taken away by owner for personal use from business are known as:
A. Capital
B. Drawings
C. Revenue
D. Expense
9 Cost which cannot be conveniently identified with individual cost unit is called
A. Direct material cost
B. Indirect material cost
C. Indirect labour cost
D. Caring cost
10 Goodwill is ----------- for company.
A. Intangible asset
B. Fixed asset
C. Current asset
D. Quick asset

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