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	The technique and process of ascertaining cost is termed as	A. Costing B. Cost accounting C. Calculation of cost D. Controlling cost
2	In bill of exchange, the party who accepts a bill is known as:	A. Drawer B. Drawee C. Payee D. Third party
3	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
4	Statement of a affairs is a sort of -----------	A. Profit and loss statement B. Nominal account C. Statement of changes in equity D. Balance sheet
5	Spoiled goods cannot be	A. Sold without repairing B. Repair and sold as damaged goods C. Both A and B D. None of above
6	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
7	Outstanding expenses are also known as	A. Prepared expenses B. Accrued expenses C. Un-earned income D. None
8	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
9	Trading account shows ----------- result.	A. Net B. Gross C. Profit D. Loss
10	During period of rising material prices, ----------- method results in profit inflation	A. LIFO B. FIFO C. Weighted average D. All of the above