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NAT II Management Science Finance & Accounting MCQs With Answers

Question # 1

How many of grace are given?

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Question # 2

Treble column cash book has three columns of:

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Cash, bank and discount

Income, expense and bank

Cash, bank and profit or loss

None

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Question # 3

In operating expense includes

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Marketing expense

Admin expense

Selling expense

All of the above

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Question # 4

Per Unit cost is calculated by dividing the cost of goods sold by

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The number of units sold

The number of units purchase

The number of units manufactured

All of the above

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Question # 5

Variable cost and fixed cost have been treated as product cost in

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Absorption costing

Direct costing

Full costing

All of above

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Question # 6

Realisation concept is the concept in which revenue is ------------ at the time when goods are sold or services rendered.

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Recognized

Not recognized

Paid

Received

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Question # 7

Which one is not include in factory overhead?

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Power hear & light

Indirect labour cost

Depreciation of plant

Salary of accountant

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Question # 8

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

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True

False

May be

None

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Question # 9

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 # 10

The cost flow must match the

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Output

Outflow

Inflow

Workflow

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Question # 11

A person is said to be insolvent when his

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Assets are sufficient

Assets are enough to pay his liabilities

Assets are not enough to pay his liabilities

None

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