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

00:00
Question # 1

The primary objective of cost accounting is to

Question # 2

Material are charged to production at actual cost under

Question # 3

Hypothetical cost which are specially computed outside the accounting system for the purpose of decision making is called

Question # 4

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

Question # 5

Office salaries are include in

Question # 6

Tenor is the period of time ------------ which a bill becomes payable

Question # 7

Profit will be lower where prices are rising under

Question # 8

What are bad debts?

Question # 9

A person is said to be insolvent when his

Question # 10

Under perpetual inventory system stock taking is under taken at the

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

Sr.# Question Answer
1 Material are charged to production at actual cost under
A. Weighted average method
B. FIFO method
C. LIFO method
D. Both ii & iii
2 What is accumulated depreciation?
A. Depreciation expense of the current year
B. Sum of all depreciations in different accounting year
C. Depreciations of previous accounting year
D. None
3 Hypothetical cost which are specially computed outside the accounting system for the purpose of decision making is called
A. Future cost
B. Replacement cost
C. Imputed cost
D. Sunk cost
4 If spoiled good are considered as abnormal part of production process then debited to
A. Work in process
B. General expense
C. F-o-H control
D. None of above
5 The cost flow must match the
A. Output
B. Outflow
C. Inflow
D. Workflow
6 What are bad debts?
A. Debts which are irrecoverable from the debtors
B. Debts which are recoverable from the debtors
C. Debts which are irrecoverable from the creditors
D. Debts which are recoverable from the creditors
7 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
8 If applied factory overhead is less than actual factory overhead, it is called
A. Applied F.o.H
B. Over applied F.o.H
C. Under-applied F.o.H
D. None of above
9 The technique and process of ascertaining cost is termed as
A. Costing
B. Cost accounting
C. Calculation of cost
D. Controlling cost
10 In bill of exchange, the party who accepts a bill is known as:
A. Drawer
B. Drawee
C. Payee
D. Third party

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