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

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NAT II Management Science Finance & Accounting

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Question # 1

A--------------- is an account in which those transaction are entered which cannot be placed to their accounts

Question # 2

A property which is received by virtue of a will of a person after his death is known as

Question # 3

Provision of doubtful debts are also known as:

Question # 4

Work in process opening and closing inventory includes:-

Question # 5

Offsetting expenses against revenue is the concept of:

Question # 6

Endorsement is made:

Question # 7

Material are charged to production at actual cost under

Question # 8

How many types of bank accounts are there?

Question # 9

Which one of the following is not a negotiable instrument?

Question # 10

How many types of inventories are in cost of goods sold statement?

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    Maya Kumari 08 - Jun - 2022 00 Min 39 Sec 10/10
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    Mehwish 26 - Aug - 2021 01 Min 10 Sec 10/10
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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 The cost flow must match the
A. Output
B. Outflow
C. Inflow
D. Workflow
2 Profit will be lower where prices are rising under
A. FIFO method
B. LIFO method
C. Weighted average method
D. All of the above
3 Difference in cost of alternative choices is called
A. Total costing
B. Differential costing
C. Full costing
D. Variable costing
4 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
5 How many of grace are given?
A. 5
B. 4
C. 3
D. 2
6 Cost which is calculated before manufacture operation is called
A. Sunk cost
B. Mixed cost
C. Standard cost
D. None of above
7 The cost flow must watch the
A. Output
B. Outflow
C. Inflow
D. Workflow
8 A credit purchases are:
A. If goods purchased and payment made at the same time
B. If goods purchased and payment not made at the same time
C. If goods sold and payment receive at the same time
D. If goods sold and payment not receive at the same time
9 Which one is not include in factory overhead?
A. Power hear & light
B. Indirect labour cost
C. Depreciation of plant
D. Salary of accountant
10 Accounts which are related with properties are known as
A. Real accounts
B. Nominal accounts
C. Property accounts
D. A and C are correct Accounting principles:

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