NAT IIM Management Science Finance & Accounting Online Test for Pakistani Students

NAT II Management Science Finance & Accounting

Sr. #	Questions	Answers Choice
1	If spoiled good are considered as abnormal part of production process then debited to	Work in process General expense F-o-H control None of above
2	If spoiled goods are considered a normal part of production process than debit to	Work in process General expense F.o.H control None of above
3	The cost flow must match the	Output Outflow Inflow Workflow
4	Spoiled goods cannot be	Sold without repairing Repair and sold as damaged goods Both A and B None of above
5	Under perpetual inventory system stock taking is under taken at the	Start of the accounting year End of the accounting Regular bases None of above
6	Purchase Requisition is sent to	Accounts department Purchase department Finance department None of above
7	Good received note is prepared by	Purchase department Sales department Receiving department All of the above
8	Bin card is maintained by	Purchase manager Sales manager Store keeper Finance manager
9	Profit will be lower where prices are rising under	FIFO method LIFO method Weighted average method All of the above
10	Material are charged to production at actual cost under	Weighted average method FIFO method LIFO method Both ii & iii