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

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NAT II Management Science Finance & Accounting

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Question # 1

Under perpetual inventory system stock taking is under taken at the

Question # 2

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

Question # 3

Which one is not accounting convention?

Question # 4

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

Question # 5

How many branches are there in accounting?

Question # 6

Difference in cost of alternative choices is called

Question # 7

Doubtful debts are shown on:

Question # 8

Assets which have to no market value are called

Question # 9

If spoiled goods are considered a normal part of production process than debit to

Question # 10

If applied factory overhead is less than actual factory overhead, it is called

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

Sr.# Question Answer
1 How many types of bank accounts are there?
A. 4
B. 3
C. 5
D. 6
2 Endorsement is made:
A. For settlement of debts
B. For settlement of income
C. For settlement of profit
D. None
3 What are bad debts?
A. Debts which are irrecoverable from the debtors
B. Debts which are recoverable from the debtors
C. Debts which are irrecoverable from the creditors
D. Debts which are recoverable from the creditors
4 Provision of doubtful debts are also known as:
A. Allowances for uncollectable
B. Allowances for collectable
C. Bad debts
D. None
5 Profit will be lower where prices are rising under
A. FIFO method
B. LIFO method
C. Weighted average method
D. All of the above
6 How many branches are there in accounting?
A. 1
B. 3
C. 2
D. 4
7 What are accrued expenses?
A. The expenses that have been incurred during current year and paid till the end of current year
B. The expenses that have been incurred previous year and paid in the current year
C. The expenses that have been incurred during current year and not paid till the end of current year
D. The expenses that have been incurred previous year and not paid till the end of current year
8 Treble column cash book has three columns of:
A. Cash, bank and discount
B. Income, expense and bank
C. Cash, bank and profit or loss
D. None
9 Petty cash book is a book which record
A. Assets
B. Liabilities
C. Large payments
D. Small payments
10 Bin card is maintained by
A. Purchase manager
B. Sales manager
C. Store keeper
D. Finance manager

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