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

Profit will be lower where prices are rising under

Question # 2

In operating expense includes

Question # 3

In payroll include the remunerations of

Question # 4

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

Question # 5

Office salaries are include in

Question # 6

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

Question # 7

Material are charged to production at actual cost under

Question # 8

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

Question # 9

Dishonor of the bill occurs when:

Question # 10

What is amortization?

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

Sr.# Question Answer
1 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
2 Doubtful debt are:
A. Definite loss to the business
B. Definite profit to the business
C. Expected loss to the business
D. Expected profit to the business
3 The technique and process of ascertaining cost is termed as
A. Costing
B. Cost accounting
C. Calculation of cost
D. Controlling cost
4 Doubtful debts are shown on:
A. Profit side of statement of profit and loss
B. Liabilities side of balance sheet
C. Asset side of balance sheet
D. Not shown anywhere
5 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
6 The cost flow must match the
A. Output
B. Outflow
C. Inflow
D. Workflow
7 Debentures are
A. Fixed assets
B. Fixed liabilities
C. Capital
D. Prepaid expenses
8 Office salaries are include in
A. Direct material cost
B. Indirect material cost
C. Factory overhead cost
D. Total payroll
9 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
10 Petty cash book is a book which record
A. Assets
B. Liabilities
C. Large payments
D. Small payments

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