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

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NAT II Management Science Finance & Accounting

00:00
Question # 1

Debentures are

Question # 2

Cost which cannot be conveniently identified with individual cost unit is called

Question # 3

Offsetting expenses against revenue is the concept of:

Question # 4

Cost which is calculated before manufacture operation is called

Question # 5

The stages of accounting cycle are

Question # 6

Compound entry is an entry in which:

Question # 7

Office salaries are include in

Question # 8

Assets which have to no market value are called

Question # 9

Which one is not a functional classification?

Question # 10

Which one is not include in factory overhead?

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

Sr.# Question Answer
1 Which one is not accounting convention?
A. Materiality
B. Full disclosure
C. Consistency
D. Going concern
2 Which one is non-manufacturing costs?
A. Direct material cost
B. Labour cost
C. Research and development cost
D. All of above
3 How many branches are there in accounting?
A. 1
B. 3
C. 2
D. 4
4 Deferred liabilities are debts which are repayable less than ----------
A. One month
B. Six month
C. One year
D. None
5 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
6 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
7 Office salaries are include in
A. Direct material cost
B. Indirect material cost
C. Factory overhead cost
D. Total payroll
8 In job order costing system, each job is assigned a job cost
A. Unit
B. Center
C. Driver
D. Sheet
9 The primary object of non-profit organizations is
A. Not to earn profit
B. Work for the welfare of society
C. Buy/sell goods
D. A and B but not C
10 Cost goods sold is Rs. 1650, gross profit ratio is 17.5% then sales is
A. 1800
B. 1900
C. 2000
D. 2200

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