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	Variable cost and fixed cost have been treated as product cost in	A. Absorption costing B. Direct costing C. Full costing D. All of above
2	How many branches are there in accounting?	A. 1 B. 3 C. 2 D. 4
3	What is amortization?	A. Decrease in the value of fixed assets B. Decrease in the value of intangible assets C. Increase in the value of fixed assets D. Increase in the value of intangible assets
4	Endorsement is made:	A. For settlement of debts B. For settlement of income C. For settlement of profit D. None
5	Deferred liabilities are debts which are repayable less than ----------	A. One month B. Six month C. One year D. None
6	Name the main accounts which are prepared in accounting?	A. Assets, liabilities, income and expenses B. Assets, liabilities, income and revenue C. Assets, owner's equity, income and expenses D. Assets, liabilities and expenses
7	Cost which is calculated before manufacture operation is called	A. Sunk cost B. Mixed cost C. Standard cost D. None of above
8	Manufacturing concern cycle is ---------- than trading concern cycle:	A. Shorter B. Greater C. Medium D. None of above
9	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
10	If spoiled good are considered as abnormal part of production process then debited to	A. Work in process B. General expense C. F-o-H control D. None of above