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

From the following statements which one is not true about over applied F.o.H

Question # 2

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

Question # 3

A cost whose magnitude will be affected by decision being made is called

Question # 4

Good received note is prepared by

Question # 5

Offsetting expenses against revenue is the concept of:

Question # 6

In job order costing system, each job is assigned a job cost

Question # 7

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

Question # 8

Spoiled goods cannot be

Question # 9

Tenor is the period of time ------------ which a bill becomes payable

Question # 10

Cost which cannot be conveniently identified with individual cost unit is called

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

Sr.# Question Answer
1 A property which is received by virtue of a will of a person after his death is known as
A. Legacy
B. Donation
C. Subscription
D. Gift
2 Profit will be lower where prices are rising under
A. FIFO method
B. LIFO method
C. Weighted average method
D. All of the above
3 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
4 The cost of holding the stock in storage is called
A. Ordering cost
B. Material cost
C. Caring cost
D. All of the above
5 The technique and process of ascertaining cost is termed as
A. Costing
B. Cost accounting
C. Calculation of cost
D. Controlling cost
6 Trading account shows ----------- result.
A. Net
B. Gross
C. Profit
D. Loss
7 Office salaries are include in
A. Direct material cost
B. Indirect material cost
C. Factory overhead cost
D. Total payroll
8 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
9 The ------------- includes a control account entitled general ledger that shows is equity of the general office in the factory.
A. General ledger
B. Head office ledger
C. Factory ledger
D. None of these
10 Goodwill is ----------- for company.
A. Intangible asset
B. Fixed asset
C. Current asset
D. Quick asset

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