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

What are accrued expenses?

Question # 2

Hypothetical cost which are specially computed outside the accounting system for the purpose of decision making is called

Question # 3

Tenor is the period of time ------------ which a bill becomes payable

Question # 4

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

Question # 5

According to possible for an event or transaction which is not measurable in terms of money

Question # 6

Cost which cannot be conveniently identified with individual cost unit is called

Question # 7

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

Question # 8

Accounts which are related with properties are known as

Question # 9

The objective of financial accounting is to ascertain:

Question # 10

Depreciation is a loss due to wear and tear of an asset.

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

Sr.# Question Answer
1 Which one is not accounting convention?
A. Materiality
B. Full disclosure
C. Consistency
D. Going concern
2 How many branches are there in accounting?
A. 1
B. 3
C. 2
D. 4
3 In payroll include the remunerations of
A. Direct labour
B. Indirect labour
C. Both a & b
D. None of the above
4 Which one is not include in factory overhead?
A. Power hear & light
B. Indirect labour cost
C. Depreciation of plant
D. Salary of accountant
5 Outstanding expenses are also known as
A. Prepared expenses
B. Accrued expenses
C. Un-earned income
D. None
6 Cost which is calculated before manufacture operation is called
A. Sunk cost
B. Mixed cost
C. Standard cost
D. None of above
7 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
8 In operating expense includes
A. Marketing expense
B. Admin expense
C. Selling expense
D. All of the above
9 How many types of bank accounts are there?
A. 4
B. 3
C. 5
D. 6
10 Any written evidence of a business transaction is known as
A. Voucher
B. Pay-in-slip
C. Debit note
D. Credit note

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