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

In payroll include the remunerations of

Question # 2

Cash or goods taken away by owner for personal use from business are known as:

Question # 3

In operating expense includes

Question # 4

Which one is not accounting convention?

Question # 5

Which one is not a functional classification?

Question # 6

The primary objective of cost accounting is to

Question # 7

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

Question # 8

The cost of holding the stock in storage is called

Question # 9

Debentures are

Question # 10

If spoiled good are considered as abnormal part of production process then debited to

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

Sr.# Question Answer
1 Sales prices is calculated as follow:-
A. Cost + operating expense
B. Direct material + Direct labour + F.o.H
C. Cost + operating expenses + profit
D. None of above
2 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
3 The cost flow must watch the
A. Output
B. Outflow
C. Inflow
D. Workflow
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 Tenor is the period of time ------------ which a bill becomes payable
A. Before
B. After
C. Both a and b
D. None
6 The ------------- includes a control account entitled general ledger that shows is equity of the general office in the factory.
A. General ledger
B. Head office ledger
C. Factory ledger
D. None of these
7 Debentures are
A. Fixed assets
B. Fixed liabilities
C. Capital
D. Prepaid expenses
8 Doubtful debt are:
A. Definite loss to the business
B. Definite profit to the business
C. Expected loss to the business
D. Expected profit to the business
9 A--------------- is an account in which those transaction are entered which cannot be placed to their accounts
A. Nominal account
B. Suspense account
C. Personal account
D. Debtor account
10 Which one is not a classification according to the accounting period?
A. Capital expenditure
B. Revenue expenditure
C. Product cost
D. Administrative cost

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