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

  • Time Allowed15

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NAT II Management Science Finance & Accounting

00:00
Question # 1

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

Question # 2

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

Question # 3

Doubtful debt are:

Question # 4

In payroll include the remunerations of

Question # 5

Rebate is the --------- in the amount of bill paid

Question # 6

Deferred liabilities are debts which are repayable less than ----------

Question # 7

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

Question # 8

The cost flow must match the

Question # 9

A person is said to be insolvent when his

Question # 10

Spoiled goods cannot be

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

Sr.# Question Answer
1 From the following statements which one is not true about over applied F.o.H
A. Less from cost of goods sold at normal
B. Less from entire production if required
C. Add in gross profit if required
D. Less from Net profit.
2 Sales prices is calculated as follow:-
A. Cost + operating expense
B. Direct material + Direct labour + F.o.H
C. Cost + operating expenses + profit
D. None of above
3 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
4 Depreciation is a loss due to wear and tear of an asset.
A. Correct
B. Incorrent
C. May be
D. None
5 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
6 Cost which cannot be conveniently identified with individual cost unit is called
A. Direct material cost
B. Indirect material cost
C. Indirect labour cost
D. Caring cost
7 In bill of exchange, the party who accepts a bill is known as:
A. Drawer
B. Drawee
C. Payee
D. Third party
8 Historical cost which is irrecoverable in a given situation is called
A. Imputed cost
B. Standard cost
C. Opportunity cost
D. Sunk cost
9 Which one is not include in factory overhead?
A. Power hear & light
B. Indirect labour cost
C. Depreciation of plant
D. Salary of accountant
10 The cost flow must watch the
A. Output
B. Outflow
C. Inflow
D. Workflow

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