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

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

Question # 2

Which one is not a functional classification?

Question # 3

Which one is not include in factory overhead?

Question # 4

The cost flow must match the

Question # 5

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

Question # 6

How many branches are there in accounting?

Question # 7

Provision of doubtful debts are also known as:

Question # 8

Realisation concept is the concept in which revenue is ------------ at the time when goods are sold or services rendered.

Question # 9

The stages of accounting cycle are

Question # 10

Cash or goods taken away by owner for personal use from business are known as:

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

Sr.# Question Answer
1 The cost of holding the stock in storage is called
A. Ordering cost
B. Material cost
C. Caring cost
D. All of the above
2 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.
3 What is amortization?
A. Decrease in the value of fixed assets
B. Decrease in the value of intangible assets
C. Increase in the value of fixed assets
D. Increase in the value of intangible assets
4 Profit will be lower where prices are rising under
A. FIFO method
B. LIFO method
C. Weighted average method
D. All of the above
5 The price at which assets will be sold at the end of its useful life is known as:
A. Scrap value
B. Residual value
C. Written down value
D. All of the above
6 Which one is not include in factory overhead?
A. Power hear & light
B. Indirect labour cost
C. Depreciation of plant
D. Salary of accountant
7 The stages of accounting cycle are
A. Transaction-ledger-journal-trial balance-final accounts
B. Transaction-journal-ledger-trial balance-final accounts
C. Transaction-journal-trial balance-ledger-final accounts
D. Transaction-journal-ledger-final accounts-trial balance
8 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
9 Petty cash book is a book which record
A. Assets
B. Liabilities
C. Large payments
D. Small payments
10 Trading account shows ----------- result.
A. Net
B. Gross
C. Profit
D. Loss

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