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

NAT II Management Science Finance & Accounting

Sr. #	Questions	Answers Choice
1	Which one is non-manufacturing costs?	Direct material cost Labour cost Research and development cost All of above
2	Which one is not a classification according to the accounting period?	Capital expenditure Revenue expenditure Product cost Administrative cost
3	Difference in cost of alternative choices is called	Total costing Differential costing Full costing Variable costing
4	Variable cost and fixed cost have been treated as product cost in	Absorption costing Direct costing Full costing All of above
5	The primary object of non-profit organizations is	Not to earn profit Work for the welfare of society Buy/sell goods A and B but not C
6	A property which is received by virtue of a will of a person after his death is known as	Legacy Donation Subscription Gift
7	Petty cash book is a book which record	Assets Liabilities Large payments Small payments
8	Debentures are	Fixed assets Fixed liabilities Capital Prepaid expenses
9	Provision of doubtful debts are also known as:	Allowances for uncollectable Allowances for collectable Bad debts None
10	Quick assets are	Cash in hand Cash at bank Debtors All of the above