NAT IIM Management Science Finance & Accounting Online Test for Pakistani Students

Top Scorers Of NAT II Management Science Finance & Accounting MCQ`s Test

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	Manufacturing concern cycle is ---------- than trading concern cycle:	A. Shorter B. Greater C. Medium D. None of above
3	Cost which cannot be conveniently identified with individual cost unit is called	A. Direct material cost B. Indirect material cost C. Indirect labour cost D. Caring cost
4	The primary objective of cost accounting is to	A. Control cost B. Calculate profit C. Avoid cost D. All of above
5	Goodwill is ----------- for company.	A. Intangible asset B. Fixed asset C. Current asset D. Quick asset
6	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
7	Name the main accounts which are prepared in accounting?	A. Assets, liabilities, income and expenses B. Assets, liabilities, income and revenue C. Assets, owner's equity, income and expenses D. Assets, liabilities and expenses
8	Trading account shows ----------- result.	A. Net B. Gross C. Profit D. Loss
9	Depreciation expenditure is a	A. Fixed cost B. Variable cost C. Semi-variable cost D. Step fixed cost
10	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