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

00:00
Question # 1

A property which is received by virtue of a will of a person after his death is known as

Question # 2

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

Question # 3

How many of grace are given?

Question # 4

The technique and process of ascertaining cost is termed as

Question # 5

What is accounting period?

Question # 6

Historical cost which is irrecoverable in a given situation is called

Question # 7

Rebate is the --------- in the amount of bill paid

Question # 8

If applied factory overhead is less than actual factory overhead, it is called

Question # 9

Doubtful debts are shown on:

Question # 10

Accounting is the

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

Sr.# Question Answer
1 Tenor is the period of time ------------ which a bill becomes payable
A. Before
B. After
C. Both a and b
D. None
2 Which one is not a functional classification?
A. Manufacturing cost
B. Marketing cost
C. Finance cost
D. Mixed cost
3 Manufacturing concern cycle is ---------- than trading concern cycle:
A. Shorter
B. Greater
C. Medium
D. None of above
4 Which one is not accounting convention?
A. Materiality
B. Full disclosure
C. Consistency
D. Going concern
5 How many of grace are given?
A. 5
B. 4
C. 3
D. 2
6 What are accrued expenses?
A. The expenses that have been incurred during current year and paid till the end of current year
B. The expenses that have been incurred previous year and paid in the current year
C. The expenses that have been incurred during current year and not paid till the end of current year
D. The expenses that have been incurred previous year and not paid till the end of current year
7 Endorsement is made:
A. For settlement of debts
B. For settlement of income
C. For settlement of profit
D. None
8 The technique and process of ascertaining cost is termed as
A. Costing
B. Cost accounting
C. Calculation of cost
D. Controlling cost
9 Historical cost which is irrecoverable in a given situation is called
A. Imputed cost
B. Standard cost
C. Opportunity cost
D. Sunk cost
10 Statement of a affairs is a sort of -----------
A. Profit and loss statement
B. Nominal account
C. Statement of changes in equity
D. Balance sheet

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