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NAT II Management Science Finance & Accounting MCQs With Answers

Question # 1

Offsetting expenses against revenue is the concept of:

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Realization

Dual aspect

Matching

Conventions

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Question # 2

A cost whose magnitude will be affected by decision being made is called

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Historical cost

Relevant cost

Irrelevant cost

Sunk cost

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Question # 3

How many of grace are given?

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Question # 4

Which ratio tells how many times in a year stock is used up and replaced?

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Gross profit ratio

Net profit ratio

Cost ratio

None of these

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Question # 5

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

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Question # 6

The ------------- includes a control account entitled general ledger that shows is equity of the general office in the factory.

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General ledger

Head office ledger

Factory ledger

None of these

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Question # 7

The cost flow must match the

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Output

Outflow

Inflow

Workflow

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Question # 8

Deferred liabilities are debts which are repayable less than ----------

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One month

Six month

One year

None

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Question # 9

How many types of bank accounts are there?

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Question # 10

The bills which are drawn and accepted against the sale and purchase of goods on credits are called

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Trade bills

Bill of exchange

In-land bills

Foreign bills

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Question # 11

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

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Shorter

Greater

Medium

None of above

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