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

Outstanding expenses are also known as

Question # 2

The technique and process of ascertaining cost is termed as

Question # 3

What is negotiable instrument?

Question # 4

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

Question # 5

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

Question # 6

What is accounting period?

Question # 7

Any written evidence of a business transaction is known as

Question # 8

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

Question # 9

Accounting is the

Question # 10

Depreciation expenditure is a

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

Sr.# Question Answer
1 Rebate is the --------- in the amount of bill paid
A. Premium
B. Increase
C. Expense
D. Concession
2 Office salaries are include in
A. Direct material cost
B. Indirect material cost
C. Factory overhead cost
D. Total payroll
3 Tenor is the period of time ------------ which a bill becomes payable
A. Before
B. After
C. Both a and b
D. None
4 Which one of the following is not a negotiable instrument?
A. Cheque
B. Promissory note
C. Bill of exchange
D. None of the above
5 Offsetting expenses against revenue is the concept of:
A. Realization
B. Dual aspect
C. Matching
D. Conventions
6 What is negotiable instrument?
A. A document which is not transferable
B. A document which is transferable
C. A document which is accepted
D. None
7 How many types of inventories are in cost of goods sold statement?
A. 1
B. 2
C. 3
D. 4
8 The price at which assets will be sold at the end of its useful life is known as:
A. Scrap value
B. Residual value
C. Written down value
D. All of the above
9 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
10 The cost flow must watch the
A. Output
B. Outflow
C. Inflow
D. Workflow

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