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

Cost goods sold is Rs. 1650, gross profit ratio is 17.5% then sales is

Question # 2

Compound entry is an entry in which:

Question # 3

Cost which is calculated before manufacture operation is called

Question # 4

Trading account shows ----------- result.

Question # 5

The bills which are drawn and accepted against the sale and purchase of goods on credits are called

Question # 6

Which one is non-manufacturing costs?

Question # 7

During period of rising material prices, ----------- method results in profit inflation

Question # 8

Provision of doubtful debts are also known as:

Question # 9

Which one is not include in factory overhead?

Question # 10

Treble column cash book has three columns of:

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

Sr.# Question Answer
1 In operating expense includes
A. Marketing expense
B. Admin expense
C. Selling expense
D. All of the above
2 Deferred liabilities are debts which are repayable less than ----------
A. One month
B. Six month
C. One year
D. None
3 Difference in cost of alternative choices is called
A. Total costing
B. Differential costing
C. Full costing
D. Variable costing
4 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
5 Which ratio tells how many times in a year stock is used up and replaced?
A. Gross profit ratio
B. Net profit ratio
C. Cost ratio
D. None of these
6 Hypothetical cost which are specially computed outside the accounting system for the purpose of decision making is called
A. Future cost
B. Replacement cost
C. Imputed cost
D. Sunk cost
7 Sales prices is calculated as follow:-
A. Cost + operating expense
B. Direct material + Direct labour + F.o.H
C. Cost + operating expenses + profit
D. None of above
8 What are accrued expenses?
A. The expenses that have been incurred during current year and paid till the end of current year
B. The expenses that have been incurred previous year and paid in the current year
C. The expenses that have been incurred during current year and not paid till the end of current year
D. The expenses that have been incurred previous year and not paid till the end of current year
9 Bin card is maintained by
A. Purchase manager
B. Sales manager
C. Store keeper
D. Finance manager
10 A cost whose magnitude will be affected by decision being made is called
A. Historical cost
B. Relevant cost
C. Irrelevant cost
D. Sunk cost

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