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

Manufacturing concern cycle is ---------- than trading concern cycle:

Question # 2

Outstanding expenses are also known as

Question # 3

Per Unit cost is calculated by dividing the cost of goods sold by

Question # 4

If applied factory overhead is less than actual factory overhead, it is called

Question # 5

Variable cost and fixed cost have been treated as product cost in

Question # 6

Which one is not include in factory overhead?

Question # 7

The technique and process of ascertaining cost is termed as

Question # 8

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

Question # 9

Quick assets are

Question # 10

The primary objective of cost accounting is to

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

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    Maya Kumari 08 - Jun - 2022 00 Min 39 Sec 10/10
  • M
    Mehwish 26 - Aug - 2021 01 Min 10 Sec 10/10
  • W
    Waleed mazhar 30 - Jul - 2022 00 Min 32 Sec 9/10
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    mehwish Malik 24 - Apr - 2023 10 Min 50 Sec 6/10
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NAT-II Finance & Accounting Chapter 0 Important MCQ's

Sr.# Question Answer
1 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.
2 Costs whose consumption may be identified with specific production units in called
A. Direct labour cost
B. Indirect labour cost
C. Direct material cost
D. Indirect material cost
3 Accounting is the
A. Art
B. Science
C. Both
D. None
4 Excess of assets over liabilities is known as:
A. Capital fund
B. Accumulated fund
C. Surplus fund
D. All options are correct
5 How many branches are there in accounting?
A. 1
B. 3
C. 2
D. 4
6 Name the main accounts which are prepared in accounting?
A. Assets, liabilities, income and expenses
B. Assets, liabilities, income and revenue
C. Assets, owner's equity, income and expenses
D. Assets, liabilities and expenses
7 During period of rising material prices, ----------- method results in profit inflation
A. LIFO
B. FIFO
C. Weighted average
D. All of the above
8 Under perpetual inventory system stock taking is under taken at the
A. Start of the accounting year
B. End of the accounting
C. Regular bases
D. None of above
9 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
10 Compound entry is an entry in which:
A. More than one account is debited
B. More than one account is credited
C. Both a and b are correct
D. None of the above

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