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

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Question # 1

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

Question # 2

Which one is not accounting convention?

Question # 3

Office salaries are include in

Question # 4

The primary objective of cost accounting is to

Question # 5

Which ratio tells how many times in a year stock is used up and replaced?

Question # 6

In operating expense includes

Question # 7

Accounts which are related with properties are known as

Question # 8

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

Question # 9

What is accounting period?

Question # 10

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

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

Sr.# Question Answer
1 How many types of inventories are in cost of goods sold statement?
A. 1
B. 2
C. 3
D. 4
2 Dishonor of the bill occurs when:
A. The drawer refuse to pay
B. The acceptor refuses to meet the bill on due date
C. The endorsee accepts to meet the bill
D. None
3 Trading account shows ----------- result.
A. Net
B. Gross
C. Profit
D. Loss
4 Deferred liabilities are debts which are repayable less than ----------
A. One month
B. Six month
C. One year
D. None
5 How many types of bank accounts are there?
A. 4
B. 3
C. 5
D. 6
6 Cost which is calculated before manufacture operation is called
A. Sunk cost
B. Mixed cost
C. Standard cost
D. None of above
7 Quick assets are
A. Cash in hand
B. Cash at bank
C. Debtors
D. All of the above
8 Endorsement is made:
A. For settlement of debts
B. For settlement of income
C. For settlement of profit
D. None
9 From the following statements which one is not true about over applied F.o.H
A. Less from cost of goods sold at normal
B. Less from entire production if required
C. Add in gross profit if required
D. Less from Net profit.
10 Purchase Requisition is sent to
A. Accounts department
B. Purchase department
C. Finance department
D. None of above

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