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

The bills which are drawn and accepted against the sale and purchase of goods on credits are called

Question # 2

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

Question # 3

Accounts which are related with properties are known as

Question # 4

From the following statements which one is not true about over applied F.o.H

Question # 5

If spoiled goods are considered a normal part of production process than debit to

Question # 6

Difference in cost of alternative choices is called

Question # 7

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

Question # 8

The primary object of non-profit organizations is

Question # 9

Dishonor of the bill occurs when:

Question # 10

Hypothetical cost which are specially computed outside the accounting system for the purpose of decision making is called

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

Sr.# Question Answer
1 Assets which have to no market value are called
A. Fictitious assets
B. Liquid assets
C. Intangible assets
D. Real assets
2 Provision of doubtful debts are also known as:
A. Allowances for uncollectable
B. Allowances for collectable
C. Bad debts
D. None
3 Bin card is maintained by
A. Purchase manager
B. Sales manager
C. Store keeper
D. Finance manager
4 Doubtful debts are shown on:
A. Profit side of statement of profit and loss
B. Liabilities side of balance sheet
C. Asset side of balance sheet
D. Not shown anywhere
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 Hypothetical cost which are specially computed outside the accounting system for the purpose of decision making is called
A. Future cost
B. Replacement cost
C. Imputed cost
D. Sunk cost
7 Tenor is the period of time ------------ which a bill becomes payable
A. Before
B. After
C. Both a and b
D. None
8 The primary objective of cost accounting is to
A. Control cost
B. Calculate profit
C. Avoid cost
D. All of above
9 Excess of assets over liabilities is known as:
A. Capital fund
B. Accumulated fund
C. Surplus fund
D. All options are correct
10 Purchase Requisition is sent to
A. Accounts department
B. Purchase department
C. Finance department
D. None of above

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