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

What is accounting period?

Question # 2

The cost flow must watch the

Question # 3

Trading account shows ----------- result.

Question # 4

Historical cost which is irrecoverable in a given situation is called

Question # 5

Spoiled goods cannot be

Question # 6

Difference in cost of alternative choices is called

Question # 7

In payroll include the remunerations of

Question # 8

In bill of exchange, the party who accepts a bill is known as:

Question # 9

If spoiled goods are considered a normal part of production process than debit to

Question # 10

Which ratio tells how many times in a year stock is used up and replaced?

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

Sr.# Question Answer
1 Accounting is the
A. Art
B. Science
C. Both
D. None
2 Dishonor of the bill occurs when:
A. The drawer refuse to pay
B. The acceptor refuses to meet the bill on due date
C. The endorsee accepts to meet the bill
D. None
3 Under perpetual inventory system stock taking is under taken at the
A. Start of the accounting year
B. End of the accounting
C. Regular bases
D. None of above
4 Office salaries are include in
A. Direct material cost
B. Indirect material cost
C. Factory overhead cost
D. Total payroll
5 Excess of assets over liabilities is known as:
A. Capital fund
B. Accumulated fund
C. Surplus fund
D. All options are correct
6 Variable cost and fixed cost have been treated as product cost in
A. Absorption costing
B. Direct costing
C. Full costing
D. All of above
7 Goodwill is ----------- for company.
A. Intangible asset
B. Fixed asset
C. Current asset
D. Quick asset
8 The primary objective of cost accounting is to
A. Control cost
B. Calculate profit
C. Avoid cost
D. All of above
9 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
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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