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

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NAT II Management Science Finance & Accounting

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Question # 1

Compound entry is an entry in which:

Question # 2

Cost which is calculated before manufacture operation is called

Question # 3

Historical cost which is irrecoverable in a given situation is called

Question # 4

Cost goods sold is Rs. 1650, gross profit ratio is 17.5% then sales is

Question # 5

Accounts which are related with properties are known as

Question # 6

The technique and process of ascertaining cost is termed as

Question # 7

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

Question # 8

Offsetting expenses against revenue is the concept of:

Question # 9

A property which is received by virtue of a will of a person after his death is known as

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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    Mehwish 26 - Aug - 2021 01 Min 10 Sec 10/10
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NAT-II Finance & Accounting Chapter 0 Important MCQ's

Sr.# Question Answer
1 The bills which are drawn and accepted against the sale and purchase of goods on credits are called
A. Trade bills
B. Bill of exchange
C. In-land bills
D. Foreign bills
2 Which one is not a classification according to the accounting period?
A. Capital expenditure
B. Revenue expenditure
C. Product cost
D. Administrative cost
3 What is accumulated depreciation?
A. Depreciation expense of the current year
B. Sum of all depreciations in different accounting year
C. Depreciations of previous accounting year
D. None
4 The cost flow must match the
A. Output
B. Outflow
C. Inflow
D. Workflow
5 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
6 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
7 Cost goods sold is Rs. 1650, gross profit ratio is 17.5% then sales is
A. 1800
B. 1900
C. 2000
D. 2200
8 Cost which cannot be conveniently identified with individual cost unit is called
A. Direct material cost
B. Indirect material cost
C. Indirect labour cost
D. Caring cost
9 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
10 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

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