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

If applied factory overhead is less than actual factory overhead, it is called

Question # 2

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

Question # 3

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

Question # 4

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

Question # 5

Work in process opening and closing inventory includes:-

Question # 6

If spoiled good are considered as abnormal part of production process then debited to

Question # 7

Accounting is the

Question # 8

Dishonor of the bill occurs when:

Question # 9

The stages of accounting cycle are

Question # 10

According to possible for an event or transaction which is not measurable in terms of money

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

Sr.# Question Answer
1 Which one is non-manufacturing costs?
A. Direct material cost
B. Labour cost
C. Research and development cost
D. All of above
2 During period of rising material prices, ----------- method results in profit inflation
A. LIFO
B. FIFO
C. Weighted average
D. All of the above
3 Petty cash book is a book which record
A. Assets
B. Liabilities
C. Large payments
D. Small payments
4 How many branches are there in accounting?
A. 1
B. 3
C. 2
D. 4
5 Cash or goods taken away by owner for personal use from business are known as:
A. Capital
B. Drawings
C. Revenue
D. Expense
6 How many types of bank accounts are there?
A. 4
B. 3
C. 5
D. 6
7 Accounts which are related with properties are known as
A. Real accounts
B. Nominal accounts
C. Property accounts
D. A and C are correct Accounting principles:
8 The cost flow must watch the
A. Output
B. Outflow
C. Inflow
D. Workflow
9 Tenor is the period of time ------------ which a bill becomes payable
A. Before
B. After
C. Both a and b
D. None
10 In job order costing system, each job is assigned a job cost
A. Unit
B. Center
C. Driver
D. Sheet

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