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

00:00
Question # 1

Endorsement is made:

Question # 2

A--------------- is an account in which those transaction are entered which cannot be placed to their accounts

Question # 3

Section of the business to which cost can be charged is termed as

Question # 4

Which one is non-manufacturing costs?

Question # 5

Dishonor of the bill occurs when:

Question # 6

Cost which cannot be conveniently identified with individual cost unit is called

Question # 7

Which one is not accounting convention?

Question # 8

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

Question # 9

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

Question # 10

The stages of accounting cycle are

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

Sr.# Question Answer
1 Costs whose consumption may be identified with specific production units in called
A. Direct labour cost
B. Indirect labour cost
C. Direct material cost
D. Indirect material cost
2 Spoiled goods cannot be
A. Sold without repairing
B. Repair and sold as damaged goods
C. Both A and B
D. None of above
3 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
4 Difference in cost of alternative choices is called
A. Total costing
B. Differential costing
C. Full costing
D. Variable costing
5 How many of grace are given?
A. 5
B. 4
C. 3
D. 2
6 The bills which are drawn and accepted against the sale and purchase of goods on credits are called
A. Trade bills
B. Bill of exchange
C. In-land bills
D. Foreign bills
7 What is negotiable instrument?
A. A document which is not transferable
B. A document which is transferable
C. A document which is accepted
D. None
8 Treble column cash book has three columns of:
A. Cash, bank and discount
B. Income, expense and bank
C. Cash, bank and profit or loss
D. None
9 What are accrued expenses?
A. The expenses that have been incurred during current year and paid till the end of current year
B. The expenses that have been incurred previous year and paid in the current year
C. The expenses that have been incurred during current year and not paid till the end of current year
D. The expenses that have been incurred previous year and not paid till the end of current year
10 The cost flow must match the
A. Output
B. Outflow
C. Inflow
D. Workflow

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