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

00:00
Question # 1

What are accrued expenses?

Question # 2

Trading account shows ----------- result.

Question # 3

From the following statements which one is not true about over applied F.o.H

Question # 4

Rebate is the --------- in the amount of bill paid

Question # 5

What is amortization?

Question # 6

The cost of holding the stock in storage is called

Question # 7

Which one is not a functional classification?

Question # 8

Offsetting expenses against revenue is the concept of:

Question # 9

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

Question # 10

A credit purchases are:

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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 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
3 Spoiled goods cannot be
A. Sold without repairing
B. Repair and sold as damaged goods
C. Both A and B
D. None of above
4 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
5 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
6 Difference in cost of alternative choices is called
A. Total costing
B. Differential costing
C. Full costing
D. Variable costing
7 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
8 Quick assets are
A. Cash in hand
B. Cash at bank
C. Debtors
D. All of the above
9 Tenor is the period of time ------------ which a bill becomes payable
A. Before
B. After
C. Both a and b
D. None
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

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