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

00:00
Question # 1

Provision of doubtful debts are also known as:

Question # 2

Outstanding expenses are also known as

Question # 3

The objective of financial accounting is to ascertain:

Question # 4

Name the main accounts which are prepared in accounting?

Question # 5

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

Question # 6

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

Question # 7

According to possible for an event or transaction which is not measurable in terms of money

Question # 8

How many types of inventories are in cost of goods sold statement?

Question # 9

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

Question # 10

Any written evidence of a business transaction is known as

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

Sr.# Question Answer
1 In job order costing system, each job is assigned a job cost
A. Unit
B. Center
C. Driver
D. Sheet
2 Endorsement is made:
A. For settlement of debts
B. For settlement of income
C. For settlement of profit
D. None
3 Lead time is the time between the time on item reaches --------------- and ---------- of
A. Order level, dispatch of material
B. Order level, maximum level
C. Maximum level, minimum level
D. Order level, actual receipt
4 From the following statements which one is not true about over applied F.o.H
A. Less from cost of goods sold at normal
B. Less from entire production if required
C. Add in gross profit if required
D. Less from Net profit.
5 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
6 What is negotiable instrument?
A. A document which is not transferable
B. A document which is transferable
C. A document which is accepted
D. None
7 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
8 Manufacturing concern cycle is ---------- than trading concern cycle:
A. Shorter
B. Greater
C. Medium
D. None of above
9 The primary objective of cost accounting is to
A. Control cost
B. Calculate profit
C. Avoid cost
D. All of above
10 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

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