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

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

Question # 2

The stages of accounting cycle are

Question # 3

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

Question # 4

A cost whose magnitude will be affected by decision being made is called

Question # 5

In bill of exchange, the party who accepts a bill is known as:

Question # 6

A person is said to be insolvent when his

Question # 7

Costs whose consumption may be identified with specific production units in called

Question # 8

Under perpetual inventory system stock taking is under taken at the

Question # 9

What is accumulated depreciation?

Question # 10

Good received note is prepared by

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

Sr.# Question Answer
1 Deferred liabilities are debts which are repayable less than ----------
A. One month
B. Six month
C. One year
D. None
2 Doubtful debt are:
A. Definite loss to the business
B. Definite profit to the business
C. Expected loss to the business
D. Expected profit to the business
3 In payroll include the remunerations of
A. Direct labour
B. Indirect labour
C. Both a & b
D. None of the above
4 How many types of bank accounts are there?
A. 4
B. 3
C. 5
D. 6
5 Material are charged to production at actual cost under
A. Weighted average method
B. FIFO method
C. LIFO method
D. Both ii & iii
6 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
7 Doubtful debts are shown on:
A. Profit side of statement of profit and loss
B. Liabilities side of balance sheet
C. Asset side of balance sheet
D. Not shown anywhere
8 Debentures are
A. Fixed assets
B. Fixed liabilities
C. Capital
D. Prepaid expenses
9 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
10 Spoiled goods cannot be
A. Sold without repairing
B. Repair and sold as damaged goods
C. Both A and B
D. None of above

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