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

Top Scorers Of NAT II Management Science Finance & Accounting MCQ`s Test

Sr.#	Question	Answer
1	Difference in cost of alternative choices is called	A. Total costing B. Differential costing C. Full costing D. Variable costing
2	Good received note is prepared by	A. Purchase department B. Sales department C. Receiving department D. All of the above
3	Depreciation expenditure is a	A. Fixed cost B. Variable cost C. Semi-variable cost D. Step fixed cost
4	Cash or goods taken away by owner for personal use from business are known as:	A. Capital B. Drawings C. Revenue D. Expense
5	Outstanding expenses are also known as	A. Prepared expenses B. Accrued expenses C. Un-earned income D. None
6	Per Unit cost is calculated by dividing the cost of goods sold by	A. The number of units sold B. The number of units purchase C. The number of units manufactured D. All of the above
7	Dishonor of the bill occurs when:	A. The drawer refuse to pay B. The acceptor refuses to meet the bill on due date C. The endorsee accepts to meet the bill D. None
8	Excess of assets over liabilities is known as:	A. Capital fund B. Accumulated fund C. Surplus fund D. All options are correct
9	Cost which is calculated before manufacture operation is called	A. Sunk cost B. Mixed cost C. Standard cost D. None of above
10	Which one is not a classification according to the accounting period?	A. Capital expenditure B. Revenue expenditure C. Product cost D. Administrative cost