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

Outstanding expenses are also known as

Question # 2

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

Question # 3

The bills which are drawn and accepted against the sale and purchase of goods on credits are called

Question # 4

Assets which have to no market value are called

Question # 5

The primary objective of cost accounting is to

Question # 6

Accounts which are related with properties are known as

Question # 7

Spoiled goods cannot be

Question # 8

What are bad debts?

Question # 9

A credit purchases are:

Question # 10

Which one is not include in factory overhead?

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

Sr.# Question Answer
1 During period of rising material prices, ----------- method results in profit inflation
A. LIFO
B. FIFO
C. Weighted average
D. All of the above
2 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
3 According to possible for an event or transaction which is not measurable in terms of money
A. True
B. False
C. May be
D. None
4 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
5 Sales prices is calculated as follow:-
A. Cost + operating expense
B. Direct material + Direct labour + F.o.H
C. Cost + operating expenses + profit
D. None of above
6 The technique and process of ascertaining cost is termed as
A. Costing
B. Cost accounting
C. Calculation of cost
D. Controlling cost
7 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
8 The cost flow must watch the
A. Output
B. Outflow
C. Inflow
D. Workflow
9 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
10 If applied factory overhead is less than actual factory overhead, it is called
A. Applied F.o.H
B. Over applied F.o.H
C. Under-applied F.o.H
D. None of above

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