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

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Question # 1

A credit purchases are:

Question # 2

Statement of a affairs is a sort of -----------

Question # 3

Treble column cash book has three columns of:

Question # 4

Cost which is calculated before manufacture operation is called

Question # 5

Tenor is the period of time ------------ which a bill becomes payable

Question # 6

What is accounting period?

Question # 7

Good received note is prepared by

Question # 8

How many types of inventories are in cost of goods sold statement?

Question # 9

Sales prices is calculated as follow:-

Question # 10

Purchase Requisition is sent to

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

Sr.# Question Answer
1 According to possible for an event or transaction which is not measurable in terms of money
A. True
B. False
C. May be
D. None
2 The bills which are drawn and accepted against the sale and purchase of goods on credits are called
A. Trade bills
B. Bill of exchange
C. In-land bills
D. Foreign bills
3 What is accounting period?
A. It is a time for which business prepares its financial statements
B. It is time for which business prepares its profit and loss statement
C. It is a time for which business prepares its balance sheet
D. None
4 Any written evidence of a business transaction is known as
A. Voucher
B. Pay-in-slip
C. Debit note
D. Credit note
5 The cost of holding the stock in storage is called
A. Ordering cost
B. Material cost
C. Caring cost
D. All of the above
6 Accounts which are related with properties are known as
A. Real accounts
B. Nominal accounts
C. Property accounts
D. A and C are correct Accounting principles:
7 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
8 The primary objective of cost accounting is to
A. Control cost
B. Calculate profit
C. Avoid cost
D. All of above
9 Depreciation is a loss due to wear and tear of an asset.
A. Correct
B. Incorrent
C. May be
D. None
10 Work in process opening and closing inventory includes:-
A. Arterial in process
B. Labour in process
C. F.o.H in process
D. All of the above

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