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	What is accumulated depreciation?	A. Depreciation expense of the current year B. Sum of all depreciations in different accounting year C. Depreciations of previous accounting year D. None
2	Quick assets are	A. Cash in hand B. Cash at bank C. Debtors D. All of the above
3	Cost which is calculated before manufacture operation is called	A. Sunk cost B. Mixed cost C. Standard cost D. None of above
4	Good received note is prepared by	A. Purchase department B. Sales department C. Receiving department D. All of the above
5	If spoiled goods are considered a normal part of production process than debit to	A. Work in process B. General expense C. F.o.H control D. None of above
6	Tenor is the period of time ------------ which a bill becomes payable	A. Before B. After C. Both a and b D. None
7	Outstanding expenses are also known as	A. Prepared expenses B. Accrued expenses C. Un-earned income D. None
8	During period of rising material prices, ----------- method results in profit inflation	A. LIFO B. FIFO C. Weighted average D. All of the above
9	Doubtful debt are:	A. Definite loss to the business B. Definite profit to the business C. Expected loss to the business D. Expected profit to the business
10	Cost goods sold is Rs. 1650, gross profit ratio is 17.5% then sales is	A. 1800 B. 1900 C. 2000 D. 2200