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	Spoiled goods cannot be	A. Sold without repairing B. Repair and sold as damaged goods C. Both A and B D. None of above
2	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
3	Tenor is the period of time ------------ which a bill becomes payable	A. Before B. After C. Both a and b D. None
4	Debentures are	A. Fixed assets B. Fixed liabilities C. Capital D. Prepaid expenses
5	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:
6	Cost which is calculated before manufacture operation is called	A. Sunk cost B. Mixed cost C. Standard cost D. None of above
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	Loss which arises due to ----------- is known as abnormal loss	A. Breakage of goods B. Leakage C. Fire D. Shrinkage
9	If spoiled goods are considered a normal part of production process than debit to	A. Work in process B. General expense C. F.o.H control D. None of above
10	How many branches are there in accounting?	A. 1 B. 3 C. 2 D. 4