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

Loss which arises due to ----------- is known as abnormal loss

Question # 2

What is accumulated depreciation?

Question # 3

Accounts which are related with properties are known as

Question # 4

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

Question # 5

A person is said to be insolvent when his

Question # 6

Hypothetical cost which are specially computed outside the accounting system for the purpose of decision making is called

Question # 7

Accounting is the

Question # 8

Offsetting expenses against revenue is the concept of:

Question # 9

Endorsement is made:

Question # 10

The ------------- includes a control account entitled general ledger that shows is equity of the general office in the factory.

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Sr.# Question Answer
1 Manufacturing concern cycle is ---------- than trading concern cycle:
A. Shorter
B. Greater
C. Medium
D. None of above
2 How many types of inventories are in cost of goods sold statement?
A. 1
B. 2
C. 3
D. 4
3 Assets which have to no market value are called
A. Fictitious assets
B. Liquid assets
C. Intangible assets
D. Real assets
4 Excess of assets over liabilities is known as:
A. Capital fund
B. Accumulated fund
C. Surplus fund
D. All options are correct
5 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
6 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
7 Any written evidence of a business transaction is known as
A. Voucher
B. Pay-in-slip
C. Debit note
D. Credit note
8 Profit will be lower where prices are rising under
A. FIFO method
B. LIFO method
C. Weighted average method
D. All of the above
9 How many types of bank accounts are there?
A. 4
B. 3
C. 5
D. 6
10 Deferred liabilities are debts which are repayable less than ----------
A. One month
B. Six month
C. One year
D. None

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