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

Lead time is the time between the time on item reaches --------------- and ---------- of

Question # 2

Profit will be lower where prices are rising under

Question # 3

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

Question # 4

Doubtful debts are shown on:

Question # 5

Realisation concept is the concept in which revenue is ------------ at the time when goods are sold or services rendered.

Question # 6

How many types of bank accounts are there?

Question # 7

Bin card is maintained by

Question # 8

Quick assets are

Question # 9

In operating expense includes

Question # 10

How many of grace are given?

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

Sr.# Question Answer
1 Section of the business to which cost can be charged is termed as
A. Cost driver
B. Cost center
C. Cost unit
D. All of above
2 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
3 Purchase Requisition is sent to
A. Accounts department
B. Purchase department
C. Finance department
D. None of above
4 Outstanding expenses are also known as
A. Prepared expenses
B. Accrued expenses
C. Un-earned income
D. None
5 Lead time is the time between the time on item reaches --------------- and ---------- of
A. Order level, dispatch of material
B. Order level, maximum level
C. Maximum level, minimum level
D. Order level, actual receipt
6 A credit purchases are:
A. If goods purchased and payment made at the same time
B. If goods purchased and payment not made at the same time
C. If goods sold and payment receive at the same time
D. If goods sold and payment not receive at the same time
7 In bill of exchange, the party who accepts a bill is known as:
A. Drawer
B. Drawee
C. Payee
D. Third party
8 A person is said to be insolvent when his
A. Assets are sufficient
B. Assets are enough to pay his liabilities
C. Assets are not enough to pay his liabilities
D. None
9 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
10 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

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