NAT IIM Management Science Finance & Accounting Online Test for Pakistani Students

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

Sr.#	Question	Answer
1	Deferred liabilities are debts which are repayable less than ----------	A. One month B. Six month C. One year D. None
2	Difference in cost of alternative choices is called	A. Total costing B. Differential costing C. Full costing D. Variable costing
3	The primary objective of cost accounting is to	A. Control cost B. Calculate profit C. Avoid cost D. All of above
4	Which one is not a classification according to the accounting period?	A. Capital expenditure B. Revenue expenditure C. Product cost D. Administrative cost
5	How many types of inventories are in cost of goods sold statement?	A. 1 B. 2 C. 3 D. 4
6	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
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	The objective of financial accounting is to ascertain:	A. True results of profit B. True results of loss C. True results of profit or loss D. None
9	Provision of doubtful debts are also known as:	A. Allowances for uncollectable B. Allowances for collectable C. Bad debts D. None
10	Cash or goods taken away by owner for personal use from business are known as:	A. Capital B. Drawings C. Revenue D. Expense