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

What is amortization?

Question # 2

Historical cost which is irrecoverable in a given situation is called

Question # 3

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

Question # 4

How many branches are there in accounting?

Question # 5

Manufacturing concern cycle is ---------- than trading concern cycle:

Question # 6

The stages of accounting cycle are

Question # 7

Difference in cost of alternative choices is called

Question # 8

The cost of holding the stock in storage is called

Question # 9

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

Question # 10

Goodwill is ----------- for company.

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

Sr.# Question Answer
1 Sales prices is calculated as follow:-
A. Cost + operating expense
B. Direct material + Direct labour + F.o.H
C. Cost + operating expenses + profit
D. None of above
2 Assets which have to no market value are called
A. Fictitious assets
B. Liquid assets
C. Intangible assets
D. Real assets
3 Historical cost which is irrecoverable in a given situation is called
A. Imputed cost
B. Standard cost
C. Opportunity cost
D. Sunk cost
4 In payroll include the remunerations of
A. Direct labour
B. Indirect labour
C. Both a & b
D. None of the above
5 The cost flow must match the
A. Output
B. Outflow
C. Inflow
D. Workflow
6 Doubtful debt are:
A. Definite loss to the business
B. Definite profit to the business
C. Expected loss to the business
D. Expected profit to the business
7 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
8 A property which is received by virtue of a will of a person after his death is known as
A. Legacy
B. Donation
C. Subscription
D. Gift
9 Which one is not accounting convention?
A. Materiality
B. Full disclosure
C. Consistency
D. Going concern
10 Which one is not include in factory overhead?
A. Power hear & light
B. Indirect labour cost
C. Depreciation of plant
D. Salary of accountant

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