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	In bill of exchange, the party who accepts a bill is known as:	A. Drawer B. Drawee C. Payee D. Third party
2	A property which is received by virtue of a will of a person after his death is known as	A. Legacy B. Donation C. Subscription D. Gift
3	In operating expense includes	A. Marketing expense B. Admin expense C. Selling expense D. All of the above
4	A credit purchases are:	A. If goods purchased and payment made at the same time B. If goods purchased and payment not made at the same time C. If goods sold and payment receive at the same time D. If goods sold and payment not receive at the same time
5	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
6	Outstanding expenses are also known as	A. Prepared expenses B. Accrued expenses C. Un-earned income D. None
7	Difference in cost of alternative choices is called	A. Total costing B. Differential costing C. Full costing D. Variable costing
8	Rebate is the --------- in the amount of bill paid	A. Premium B. Increase C. Expense D. Concession
9	Good received note is prepared by	A. Purchase department B. Sales department C. Receiving department D. All of the above
10	Realisation concept is the concept in which revenue is ------------ at the time when goods are sold or services rendered.	A. Recognized B. Not recognized C. Paid D. Received