NAT IIM Management Science Finance & Accounting Online Test for Pakistani Students

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

Sr.#	Question	Answer
1	Outstanding expenses are also known as	A. Prepared expenses B. Accrued expenses C. Un-earned income D. None
2	What is negotiable instrument?	A. A document which is not transferable B. A document which is transferable C. A document which is accepted D. None
3	Assets which have to no market value are called	A. Fictitious assets B. Liquid assets C. Intangible assets D. Real assets
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	The primary objective of cost accounting is to	A. Control cost B. Calculate profit C. Avoid cost D. All of above
6	The ------------- includes a control account entitled general ledger that shows is equity of the general office in the factory.	A. General ledger B. Head office ledger C. Factory ledger D. None of these
7	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
8	Petty cash book is a book which record	A. Assets B. Liabilities C. Large payments D. Small payments
9	Offsetting expenses against revenue is the concept of:	A. Realization B. Dual aspect C. Matching D. Conventions
10	Which one is not a classification according to the accounting period?	A. Capital expenditure B. Revenue expenditure C. Product cost D. Administrative cost