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

Any written evidence of a business transaction is known as

Question # 2

Which one of the following is not a negotiable instrument?

Question # 3

Statement of a affairs is a sort of -----------

Question # 4

Difference in cost of alternative choices is called

Question # 5

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

Question # 6

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

Question # 7

The stages of accounting cycle are

Question # 8

Which one is not a functional classification?

Question # 9

In operating expense includes

Question # 10

Historical cost which is irrecoverable in a given situation is called

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

Sr.# Question Answer
1 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
2 How many types of inventories are in cost of goods sold statement?
A. 1
B. 2
C. 3
D. 4
3 Historical cost which is irrecoverable in a given situation is called
A. Imputed cost
B. Standard cost
C. Opportunity cost
D. Sunk cost
4 The primary objective of cost accounting is to
A. Control cost
B. Calculate profit
C. Avoid cost
D. All of above
5 In payroll include the remunerations of
A. Direct labour
B. Indirect labour
C. Both a & b
D. None of the above
6 Lead time is the time between the time on item reaches --------------- and ---------- of
A. Order level, dispatch of material
B. Order level, maximum level
C. Maximum level, minimum level
D. Order level, actual receipt
7 Quick assets are
A. Cash in hand
B. Cash at bank
C. Debtors
D. All of the above
8 Which one is not a classification according to the accounting period?
A. Capital expenditure
B. Revenue expenditure
C. Product cost
D. Administrative cost
9 Material are charged to production at actual cost under
A. Weighted average method
B. FIFO method
C. LIFO method
D. Both ii & iii
10 Good received note is prepared by
A. Purchase department
B. Sales department
C. Receiving department
D. All of the above

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