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

Which one is not a functional classification?

Question # 2

During period of rising material prices, ----------- method results in profit inflation

Question # 3

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

Question # 4

Bin card is maintained by

Question # 5

The ------------- includes a control account entitled general ledger that shows is equity of the general office in the factory.

Question # 6

Accounts which are related with properties are known as

Question # 7

Manufacturing concern cycle is ---------- than trading concern cycle:

Question # 8

Historical cost which is irrecoverable in a given situation is called

Question # 9

Profit will be lower where prices are rising under

Question # 10

Name the main accounts which are prepared in accounting?

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

Sr.# Question Answer
1 Which ratio tells how many times in a year stock is used up and replaced?
A. Gross profit ratio
B. Net profit ratio
C. Cost ratio
D. None of these
2 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
3 A--------------- is an account in which those transaction are entered which cannot be placed to their accounts
A. Nominal account
B. Suspense account
C. Personal account
D. Debtor account
4 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
5 Deferred liabilities are debts which are repayable less than ----------
A. One month
B. Six month
C. One year
D. None
6 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
7 Cash or goods taken away by owner for personal use from business are known as:
A. Capital
B. Drawings
C. Revenue
D. Expense
8 In payroll include the remunerations of
A. Direct labour
B. Indirect labour
C. Both a & b
D. None of the above
9 The stages of accounting cycle are
A. Transaction-ledger-journal-trial balance-final accounts
B. Transaction-journal-ledger-trial balance-final accounts
C. Transaction-journal-trial balance-ledger-final accounts
D. Transaction-journal-ledger-final accounts-trial balance
10 Statement of a affairs is a sort of -----------
A. Profit and loss statement
B. Nominal account
C. Statement of changes in equity
D. Balance sheet

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