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	Cost which is calculated before manufacture operation is called	A. Sunk cost B. Mixed cost C. Standard cost D. None of above
2	Realisation concept is the concept in which revenue is ------------ at the time when goods are sold or services rendered.	A. Recognized B. Not recognized C. Paid D. Received
3	Bin card is maintained by	A. Purchase manager B. Sales manager C. Store keeper D. Finance manager
4	Any written evidence of a business transaction is known as	A. Voucher B. Pay-in-slip C. Debit note D. Credit note
5	How many branches are there in accounting?	A. 1 B. 3 C. 2 D. 4
6	Lead time is the time between the time on item reaches --------------- and ---------- of	A. Order level, dispatch of material B. Order level, maximum level C. Maximum level, minimum level D. Order level, actual receipt
7	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
8	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
9	In job order costing system, each job is assigned a job cost	A. Unit B. Center C. Driver D. Sheet
10	The technique and process of ascertaining cost is termed as	A. Costing B. Cost accounting C. Calculation of cost D. Controlling cost