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

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

The cost flow must watch the

Question # 2

From the following statements which one is not true about over applied F.o.H

Question # 3

In payroll include the remunerations of

Question # 4

The objective of financial accounting is to ascertain:

Question # 5

Under perpetual inventory system stock taking is under taken at the

Question # 6

Quick assets are

Question # 7

Name the main accounts which are prepared in accounting?

Question # 8

Bin card is maintained by

Question # 9

Loss which arises due to ----------- is known as abnormal loss

Question # 10

Depreciation is a loss due to wear and tear of an asset.

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

Sr.# Question Answer
1 Under perpetual inventory system stock taking is under taken at the
A. Start of the accounting year
B. End of the accounting
C. Regular bases
D. None of above
2 Profit will be lower where prices are rising under
A. FIFO method
B. LIFO method
C. Weighted average method
D. All of the above
3 Cost which cannot be conveniently identified with individual cost unit is called
A. Direct material cost
B. Indirect material cost
C. Indirect labour cost
D. Caring cost
4 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
5 A property which is received by virtue of a will of a person after his death is known as
A. Legacy
B. Donation
C. Subscription
D. Gift
6 A--------------- is an account in which those transaction are entered which cannot be placed to their accounts
A. Nominal account
B. Suspense account
C. Personal account
D. Debtor account
7 Deferred liabilities are debts which are repayable less than ----------
A. One month
B. Six month
C. One year
D. None
8 Which one is non-manufacturing costs?
A. Direct material cost
B. Labour cost
C. Research and development cost
D. All of above
9 Accounting is the
A. Art
B. Science
C. Both
D. None
10 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

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