NAT IIM Management Science Finance & Accounting Online Test for Pakistani Students

MCQ's Test For NAT II Management Science Finance & Accounting

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NAT II Management Science Finance & Accounting

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Question # 1

Petty cash book is a book which record

Question # 2

Lead time is the time between the time on item reaches --------------- and ---------- of

Question # 3

What is accumulated depreciation?

Question # 4

In payroll include the remunerations of

Question # 5

Assets which have to no market value are called

Question # 6

Bin card is maintained by

Question # 7

The cost of holding the stock in storage is called

Question # 8

Material are charged to production at actual cost under

Question # 9

Goodwill is ----------- for company.

Question # 10

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

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

Sr.# Question Answer
1 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
2 Section of the business to which cost can be charged is termed as
A. Cost driver
B. Cost center
C. Cost unit
D. All of above
3 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
4 Historical cost which is irrecoverable in a given situation is called
A. Imputed cost
B. Standard cost
C. Opportunity cost
D. Sunk cost
5 Office salaries are include in
A. Direct material cost
B. Indirect material cost
C. Factory overhead cost
D. Total payroll
6 The bills which are drawn and accepted against the sale and purchase of goods on credits are called
A. Trade bills
B. Bill of exchange
C. In-land bills
D. Foreign bills
7 Assets which have to no market value are called
A. Fictitious assets
B. Liquid assets
C. Intangible assets
D. Real assets
8 Deferred liabilities are debts which are repayable less than ----------
A. One month
B. Six month
C. One year
D. None
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 How many types of bank accounts are there?
A. 4
B. 3
C. 5
D. 6

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