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

Petty cash book is a book which record

Question # 2

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

Question # 3

Offsetting expenses against revenue is the concept of:

Question # 4

Section of the business to which cost can be charged is termed as

Question # 5

Which one is non-manufacturing costs?

Question # 6

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

Question # 7

Accounts which are related with properties are known as

Question # 8

Realisation concept is the concept in which revenue is ------------ at the time when goods are sold or services rendered.

Question # 9

The cost flow must match the

Question # 10

Deferred liabilities are debts which are repayable less than ----------

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

Sr.# Question Answer
1 Statement of a affairs is a sort of -----------
A. Profit and loss statement
B. Nominal account
C. Statement of changes in equity
D. Balance sheet
2 What is negotiable instrument?
A. A document which is not transferable
B. A document which is transferable
C. A document which is accepted
D. None
3 How many of grace are given?
A. 5
B. 4
C. 3
D. 2
4 The technique and process of ascertaining cost is termed as
A. Costing
B. Cost accounting
C. Calculation of cost
D. Controlling cost
5 In operating expense includes
A. Marketing expense
B. Admin expense
C. Selling expense
D. All of the above
6 During period of rising material prices, ----------- method results in profit inflation
A. LIFO
B. FIFO
C. Weighted average
D. All of the above
7 Deferred liabilities are debts which are repayable less than ----------
A. One month
B. Six month
C. One year
D. None
8 Provision of doubtful debts are also known as:
A. Allowances for uncollectable
B. Allowances for collectable
C. Bad debts
D. None
9 The objective of financial accounting is to ascertain:
A. True results of profit
B. True results of loss
C. True results of profit or loss
D. None
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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