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

NAT II Management Science Finance & Accounting

Sr. #	Questions	Answers Choice
1	During period of rising material prices, ----------- method results in profit inflation	LIFO FIFO Weighted average All of the above
2	Lead time is the time between the time on item reaches --------------- and ---------- of	Order level, dispatch of material Order level, maximum level Maximum level, minimum level Order level, actual receipt
3	Which ratio tells how many times in a year stock is used up and replaced?	Gross profit ratio Net profit ratio Cost ratio None of these
4	The cost of holding the stock in storage is called	Ordering cost Material cost Caring cost All of the above
5	Cost which cannot be conveniently identified with individual cost unit is called	Direct material cost Indirect material cost Indirect labour cost Caring cost
6	Costs whose consumption may be identified with specific production units in called	Direct labour cost Indirect labour cost Direct material cost Indirect material cost
7	In payroll include the remunerations of	Direct labour Indirect labour Both a & b None of the above
8	The ------------- includes a control account entitled general ledger that shows is equity of the general office in the factory.	General ledger Head office ledger Factory ledger None of these
9	The cost flow must watch the	Output Outflow Inflow Workflow
10	In job order costing system, each job is assigned a job cost	Unit Center Driver Sheet