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

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

Question # 2

Cash or goods taken away by owner for personal use from business are known as:

Question # 3

Offsetting expenses against revenue is the concept of:

Question # 4

The ------------- includes a control account entitled general ledger that shows is equity of the general office in the factory.

Question # 5

Excess of assets over liabilities is known as:

Question # 6

Good received note is prepared by

Question # 7

Lead time is the time between the time on item reaches --------------- and ---------- of

Question # 8

Work in process opening and closing inventory includes:-

Question # 9

Rebate is the --------- in the amount of bill paid

Question # 10

If spoiled good are considered as abnormal part of production process then debited to

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Top Scorers Of NAT II Management Science Finance & Accounting MCQ`s Test

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    Maya Kumari 08 - Jun - 2022 00 Min 39 Sec 10/10
  • M
    Mehwish 26 - Aug - 2021 01 Min 10 Sec 10/10
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    Waleed mazhar 30 - Jul - 2022 00 Min 32 Sec 9/10
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    mehwish Malik 24 - Apr - 2023 10 Min 50 Sec 6/10
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NAT-II Finance & Accounting Chapter 0 Important MCQ's

Sr.# Question Answer
1 A credit purchases are:
A. If goods purchased and payment made at the same time
B. If goods purchased and payment not made at the same time
C. If goods sold and payment receive at the same time
D. If goods sold and payment not receive at the same time
2 Cash or goods taken away by owner for personal use from business are known as:
A. Capital
B. Drawings
C. Revenue
D. Expense
3 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
4 Statement of a affairs is a sort of -----------
A. Profit and loss statement
B. Nominal account
C. Statement of changes in equity
D. Balance sheet
5 Good received note is prepared by
A. Purchase department
B. Sales department
C. Receiving department
D. All of the above
6 Rebate is the --------- in the amount of bill paid
A. Premium
B. Increase
C. Expense
D. Concession
7 Section of the business to which cost can be charged is termed as
A. Cost driver
B. Cost center
C. Cost unit
D. All of above
8 How many branches are there in accounting?
A. 1
B. 3
C. 2
D. 4
9 Spoiled goods cannot be
A. Sold without repairing
B. Repair and sold as damaged goods
C. Both A and B
D. None of above
10 Historical cost which is irrecoverable in a given situation is called
A. Imputed cost
B. Standard cost
C. Opportunity cost
D. Sunk cost

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