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

In operating expense includes

Question # 2

Endorsement is made:

Question # 3

Which one is not a classification according to the accounting period?

Question # 4

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

Question # 5

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

Question # 6

Difference in cost of alternative choices is called

Question # 7

Assets which have to no market value are called

Question # 8

In payroll include the remunerations of

Question # 9

Which one is not a functional classification?

Question # 10

A person is said to be insolvent when his

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

Sr.# Question Answer
1 A credit purchases are:
A. If goods purchased and payment made at the same time
B. If goods purchased and payment not made at the same time
C. If goods sold and payment receive at the same time
D. If goods sold and payment not receive at the same time
2 A cost whose magnitude will be affected by decision being made is called
A. Historical cost
B. Relevant cost
C. Irrelevant cost
D. Sunk cost
3 What are bad debts?
A. Debts which are irrecoverable from the debtors
B. Debts which are recoverable from the debtors
C. Debts which are irrecoverable from the creditors
D. Debts which are recoverable from the creditors
4 Accounts which are related with properties are known as
A. Real accounts
B. Nominal accounts
C. Property accounts
D. A and C are correct Accounting principles:
5 Good received note is prepared by
A. Purchase department
B. Sales department
C. Receiving department
D. All of the above
6 How many types of bank accounts are there?
A. 4
B. 3
C. 5
D. 6
7 How many of grace are given?
A. 5
B. 4
C. 3
D. 2
8 During period of rising material prices, ----------- method results in profit inflation
A. LIFO
B. FIFO
C. Weighted average
D. All of the above
9 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
10 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

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