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

Which ratio tells how many times in a year stock is used up and replaced?

Question # 2

Section of the business to which cost can be charged is termed as

Question # 3

The stages of accounting cycle are

Question # 4

A property which is received by virtue of a will of a person after his death is known as

Question # 5

In payroll include the remunerations of

Question # 6

In job order costing system, each job is assigned a job cost

Question # 7

Work in process opening and closing inventory includes:-

Question # 8

The ------------- includes a control account entitled general ledger that shows is equity of the general office in the factory.

Question # 9

Compound entry is an entry in which:

Question # 10

What is accumulated depreciation?

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

Sr.# Question Answer
1 Compound entry is an entry in which:
A. More than one account is debited
B. More than one account is credited
C. Both a and b are correct
D. None of the above
2 Petty cash book is a book which record
A. Assets
B. Liabilities
C. Large payments
D. Small payments
3 A cost whose magnitude will be affected by decision being made is called
A. Historical cost
B. Relevant cost
C. Irrelevant cost
D. Sunk cost
4 Material are charged to production at actual cost under
A. Weighted average method
B. FIFO method
C. LIFO method
D. Both ii & iii
5 Spoiled goods cannot be
A. Sold without repairing
B. Repair and sold as damaged goods
C. Both A and B
D. None of above
6 Sales prices is calculated as follow:-
A. Cost + operating expense
B. Direct material + Direct labour + F.o.H
C. Cost + operating expenses + profit
D. None of above
7 Assets which have to no market value are called
A. Fictitious assets
B. Liquid assets
C. Intangible assets
D. Real assets
8 Goodwill is ----------- for company.
A. Intangible asset
B. Fixed asset
C. Current asset
D. Quick asset
9 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
10 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

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