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

  • Total Questions10

  • Time Allowed15

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NAT II Management Science Finance & Accounting

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Question # 1

Debentures are

Question # 2

Excess of assets over liabilities is known as:

Question # 3

Cost goods sold is Rs. 1650, gross profit ratio is 17.5% then sales is

Question # 4

The primary objective of cost accounting is to

Question # 5

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

Question # 6

During period of rising material prices, ----------- method results in profit inflation

Question # 7

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

Question # 8

Material are charged to production at actual cost under

Question # 9

Which one is not include in factory overhead?

Question # 10

Difference in cost of alternative choices is called

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

Sr.# Question Answer
1 Accounting is the
A. Art
B. Science
C. Both
D. None
2 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
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 Spoiled goods cannot be
A. Sold without repairing
B. Repair and sold as damaged goods
C. Both A and B
D. None of above
5 In payroll include the remunerations of
A. Direct labour
B. Indirect labour
C. Both a & b
D. None of the above
6 What is negotiable instrument?
A. A document which is not transferable
B. A document which is transferable
C. A document which is accepted
D. None
7 A credit purchases are:
A. If goods purchased and payment made at the same time
B. If goods purchased and payment not made at the same time
C. If goods sold and payment receive at the same time
D. If goods sold and payment not receive at the same time
8 Work in process opening and closing inventory includes:-
A. Arterial in process
B. Labour in process
C. F.o.H in process
D. All of the above
9 Goodwill is ----------- for company.
A. Intangible asset
B. Fixed asset
C. Current asset
D. Quick asset
10 According to possible for an event or transaction which is not measurable in terms of money
A. True
B. False
C. May be
D. None

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