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

The price at which assets will be sold at the end of its useful life is known as:

Question # 2

Doubtful debts are shown on:

Question # 3

Trading account shows ----------- result.

Question # 4

Purchase Requisition is sent to

Question # 5

Assets which have to no market value are called

Question # 6

Endorsement is made:

Question # 7

Profit will be lower where prices are rising under

Question # 8

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

Question # 9

What are accrued expenses?

Question # 10

The stages of accounting cycle are

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Top Scorers Of NAT II Management Science Finance & Accounting MCQ`s Test

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  • M
    Mehwish 26 - Aug - 2021 01 Min 10 Sec 10/10
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NAT-II Finance & Accounting Chapter 0 Important MCQ's

Sr.# Question Answer
1 In operating expense includes
A. Marketing expense
B. Admin expense
C. Selling expense
D. All of the above
2 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:
3 Rebate is the --------- in the amount of bill paid
A. Premium
B. Increase
C. Expense
D. Concession
4 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
5 Per Unit cost is calculated by dividing the cost of goods sold by
A. The number of units sold
B. The number of units purchase
C. The number of units manufactured
D. All of the above
6 Hypothetical cost which are specially computed outside the accounting system for the purpose of decision making is called
A. Future cost
B. Replacement cost
C. Imputed cost
D. Sunk cost
7 Cost goods sold is Rs. 1650, gross profit ratio is 17.5% then sales is
A. 1800
B. 1900
C. 2000
D. 2200
8 Dishonor of the bill occurs when:
A. The drawer refuse to pay
B. The acceptor refuses to meet the bill on due date
C. The endorsee accepts to meet the bill
D. None
9 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
10 The primary object of non-profit organizations is
A. Not to earn profit
B. Work for the welfare of society
C. Buy/sell goods
D. A and B but not C

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