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

Debentures are

Question # 2

Profit will be lower where prices are rising under

Question # 3

Name the main accounts which are prepared in accounting?

Question # 4

A person is said to be insolvent when his

Question # 5

Which one is not include in factory overhead?

Question # 6

What is accumulated depreciation?

Question # 7

Difference in cost of alternative choices is called

Question # 8

Outstanding expenses are also known as

Question # 9

How many branches are there in accounting?

Question # 10

Purchase Requisition is sent to

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

Sr.# Question Answer
1 Loss which arises due to ----------- is known as abnormal loss
A. Breakage of goods
B. Leakage
C. Fire
D. Shrinkage
2 A person is said to be insolvent when his
A. Assets are sufficient
B. Assets are enough to pay his liabilities
C. Assets are not enough to pay his liabilities
D. None
3 Which one of the following is not a negotiable instrument?
A. Cheque
B. Promissory note
C. Bill of exchange
D. None of the above
4 Which one is not accounting convention?
A. Materiality
B. Full disclosure
C. Consistency
D. Going concern
5 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
6 Statement of a affairs is a sort of -----------
A. Profit and loss statement
B. Nominal account
C. Statement of changes in equity
D. Balance sheet
7 Which one is not include in factory overhead?
A. Power hear & light
B. Indirect labour cost
C. Depreciation of plant
D. Salary of accountant
8 The stages of accounting cycle are
A. Transaction-ledger-journal-trial balance-final accounts
B. Transaction-journal-ledger-trial balance-final accounts
C. Transaction-journal-trial balance-ledger-final accounts
D. Transaction-journal-ledger-final accounts-trial balance
9 Goodwill is ----------- for company.
A. Intangible asset
B. Fixed asset
C. Current asset
D. Quick asset
10 Bin card is maintained by
A. Purchase manager
B. Sales manager
C. Store keeper
D. Finance manager

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