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

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

Question # 2

The price at which assets will be sold at the end of its useful life is known as:

Question # 3

Statement of a affairs is a sort of -----------

Question # 4

Doubtful debts are shown on:

Question # 5

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

Question # 6

What is amortization?

Question # 7

Compound entry is an entry in which:

Question # 8

During period of rising material prices, ----------- method results in profit inflation

Question # 9

How many types of bank accounts are there?

Question # 10

In payroll include the remunerations of

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

Sr.# Question Answer
1 The stages of accounting cycle are
A. Transaction-ledger-journal-trial balance-final accounts
B. Transaction-journal-ledger-trial balance-final accounts
C. Transaction-journal-trial balance-ledger-final accounts
D. Transaction-journal-ledger-final accounts-trial balance
2 Deferred liabilities are debts which are repayable less than ----------
A. One month
B. Six month
C. One year
D. None
3 Depreciation is a loss due to wear and tear of an asset.
A. Correct
B. Incorrent
C. May be
D. None
4 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
5 Which one of the following is not a negotiable instrument?
A. Cheque
B. Promissory note
C. Bill of exchange
D. None of the above
6 Per Unit cost is calculated by dividing the cost of goods sold by
A. The number of units sold
B. The number of units purchase
C. The number of units manufactured
D. All of the above
7 Which one is not accounting convention?
A. Materiality
B. Full disclosure
C. Consistency
D. Going concern
8 Debentures are
A. Fixed assets
B. Fixed liabilities
C. Capital
D. Prepaid expenses
9 Treble column cash book has three columns of:
A. Cash, bank and discount
B. Income, expense and bank
C. Cash, bank and profit or loss
D. None
10 The primary objective of cost accounting is to
A. Control cost
B. Calculate profit
C. Avoid cost
D. All of above

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