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

How many of grace are given?

Question # 2

Any written evidence of a business transaction is known as

Question # 3

Historical cost which is irrecoverable in a given situation is called

Question # 4

Which one is not include in factory overhead?

Question # 5

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

Question # 6

Section of the business to which cost can be charged is termed as

Question # 7

What are accrued expenses?

Question # 8

A credit purchases are:

Question # 9

Purchase Requisition is sent to

Question # 10

The objective of financial accounting is to ascertain:

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

Sr.# Question Answer
1 The objective of financial accounting is to ascertain:
A. True results of profit
B. True results of loss
C. True results of profit or loss
D. None
2 Good received note is prepared by
A. Purchase department
B. Sales department
C. Receiving department
D. All of the above
3 In job order costing system, each job is assigned a job cost
A. Unit
B. Center
C. Driver
D. Sheet
4 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
5 The technique and process of ascertaining cost is termed as
A. Costing
B. Cost accounting
C. Calculation of cost
D. Controlling cost
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 Which one is non-manufacturing costs?
A. Direct material cost
B. Labour cost
C. Research and development cost
D. All of above
8 Per Unit cost is calculated by dividing the cost of goods sold by
A. The number of units sold
B. The number of units purchase
C. The number of units manufactured
D. All of the above
9 Tenor is the period of time ------------ which a bill becomes payable
A. Before
B. After
C. Both a and b
D. None
10 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

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