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

00:00
Question # 1

Depreciation is a loss due to wear and tear of an asset.

Question # 2

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

Question # 3

The objective of financial accounting is to ascertain:

Question # 4

Per Unit cost is calculated by dividing the cost of goods sold by

Question # 5

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

Question # 6

Which one is not accounting convention?

Question # 7

Offsetting expenses against revenue is the concept of:

Question # 8

In payroll include the remunerations of

Question # 9

Cost goods sold is Rs. 1650, gross profit ratio is 17.5% then sales is

Question # 10

Material are charged to production at actual cost under

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

Sr.# Question Answer
1 The ------------- includes a control account entitled general ledger that shows is equity of the general office in the factory.
A. General ledger
B. Head office ledger
C. Factory ledger
D. None of these
2 According to possible for an event or transaction which is not measurable in terms of money
A. True
B. False
C. May be
D. None
3 If spoiled good are considered as abnormal part of production process then debited to
A. Work in process
B. General expense
C. F-o-H control
D. None of above
4 Which one is not include in factory overhead?
A. Power hear & light
B. Indirect labour cost
C. Depreciation of plant
D. Salary of accountant
5 Under perpetual inventory system stock taking is under taken at the
A. Start of the accounting year
B. End of the accounting
C. Regular bases
D. None of above
6 Trading account shows ----------- result.
A. Net
B. Gross
C. Profit
D. Loss
7 Compound entry is an entry in which:
A. More than one account is debited
B. More than one account is credited
C. Both a and b are correct
D. None of the above
8 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
9 Which one of the following is not a negotiable instrument?
A. Cheque
B. Promissory note
C. Bill of exchange
D. None of the above
10 In job order costing system, each job is assigned a job cost
A. Unit
B. Center
C. Driver
D. Sheet

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