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 ------------- includes a control account entitled general ledger that shows is equity of the general office in the factory.

Question # 2

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

Question # 3

Historical cost which is irrecoverable in a given situation is called

Question # 4

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

Question # 5

What is negotiable instrument?

Question # 6

Trading account shows ----------- result.

Question # 7

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

Question # 8

Outstanding expenses are also known as

Question # 9

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

Question # 10

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

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

Sr.# Question Answer
1 Which one of the following is not a negotiable instrument?
A. Cheque
B. Promissory note
C. Bill of exchange
D. None of the above
2 In operating expense includes
A. Marketing expense
B. Admin expense
C. Selling expense
D. All of the above
3 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
4 If spoiled goods are considered a normal part of production process than debit to
A. Work in process
B. General expense
C. F.o.H control
D. None of above
5 How many branches are there in accounting?
A. 1
B. 3
C. 2
D. 4
6 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
7 Assets which have to no market value are called
A. Fictitious assets
B. Liquid assets
C. Intangible assets
D. Real assets
8 If applied factory overhead is less than actual factory overhead, it is called
A. Applied F.o.H
B. Over applied F.o.H
C. Under-applied F.o.H
D. None of above
9 The primary objective of cost accounting is to
A. Control cost
B. Calculate profit
C. Avoid cost
D. All of above
10 Depreciation is a loss due to wear and tear of an asset.
A. Correct
B. Incorrent
C. May be
D. None

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