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

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NAT II Management Science Finance & Accounting

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Question # 1

Doubtful debt are:

Question # 2

Sales prices is calculated as follow:-

Question # 3

In operating expense includes

Question # 4

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

Question # 5

Outstanding expenses are also known as

Question # 6

Cash or goods taken away by owner for personal use from business are known as:

Question # 7

Under perpetual inventory system stock taking is under taken at the

Question # 8

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

Question # 9

Name the main accounts which are prepared in accounting?

Question # 10

Which ratio tells how many times in a year stock is used up and replaced?

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

Sr.# Question Answer
1 Which one is not accounting convention?
A. Materiality
B. Full disclosure
C. Consistency
D. Going concern
2 Name the main accounts which are prepared in accounting?
A. Assets, liabilities, income and expenses
B. Assets, liabilities, income and revenue
C. Assets, owner's equity, income and expenses
D. Assets, liabilities and expenses
3 How many types of inventories are in cost of goods sold statement?
A. 1
B. 2
C. 3
D. 4
4 Office salaries are include in
A. Direct material cost
B. Indirect material cost
C. Factory overhead cost
D. Total payroll
5 How many of grace are given?
A. 5
B. 4
C. 3
D. 2
6 Historical cost which is irrecoverable in a given situation is called
A. Imputed cost
B. Standard cost
C. Opportunity cost
D. Sunk cost
7 The cost flow must match the
A. Output
B. Outflow
C. Inflow
D. Workflow
8 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
9 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:
10 Which one of the following is not a negotiable instrument?
A. Cheque
B. Promissory note
C. Bill of exchange
D. None of the above

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