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 primary objective of cost accounting is to

Question # 2

Cost which cannot be conveniently identified with individual cost unit is called

Question # 3

Cash or goods taken away by owner for personal use from business are known as:

Question # 4

Accounting is the

Question # 5

In operating expense includes

Question # 6

If spoiled goods are considered a normal part of production process than debit to

Question # 7

Spoiled goods cannot be

Question # 8

What is accumulated depreciation?

Question # 9

How many types of bank accounts are there?

Question # 10

What is negotiable instrument?

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    Waleed mazhar 30 - Jul - 2022 00 Min 32 Sec 9/10
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NAT-II Finance & Accounting Chapter 0 Important MCQ's

Sr.# Question Answer
1 Petty cash book is a book which record
A. Assets
B. Liabilities
C. Large payments
D. Small payments
2 Cost goods sold is Rs. 1650, gross profit ratio is 17.5% then sales is
A. 1800
B. 1900
C. 2000
D. 2200
3 How many types of inventories are in cost of goods sold statement?
A. 1
B. 2
C. 3
D. 4
4 In operating expense includes
A. Marketing expense
B. Admin expense
C. Selling expense
D. All of the above
5 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
6 Realisation concept is the concept in which revenue is ------------ at the time when goods are sold or services rendered.
A. Recognized
B. Not recognized
C. Paid
D. Received
7 What is accumulated depreciation?
A. Depreciation expense of the current year
B. Sum of all depreciations in different accounting year
C. Depreciations of previous accounting year
D. None
8 From the following statements which one is not true about over applied F.o.H
A. Less from cost of goods sold at normal
B. Less from entire production if required
C. Add in gross profit if required
D. Less from Net profit.
9 In payroll include the remunerations of
A. Direct labour
B. Indirect labour
C. Both a & b
D. None of the above
10 If spoiled goods are considered a normal part of production process than debit to
A. Work in process
B. General expense
C. F.o.H control
D. None of above

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