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	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
2	Purchase Requisition is sent to	A. Accounts department B. Purchase department C. Finance department D. None of above
3	Petty cash book is a book which record	A. Assets B. Liabilities C. Large payments D. Small payments
4	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
5	In operating expense includes	A. Marketing expense B. Admin expense C. Selling expense D. All of the above
6	Office salaries are include in	A. Direct material cost B. Indirect material cost C. Factory overhead cost D. Total payroll
7	Goodwill is ----------- for company.	A. Intangible asset B. Fixed asset C. Current asset D. Quick asset
8	The objective of financial accounting is to ascertain:	A. True results of profit B. True results of loss C. True results of profit or loss D. None
9	Tenor is the period of time ------------ which a bill becomes payable	A. Before B. After C. Both a and b D. None
10	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