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

NAT II Management Science Finance & Accounting

Sr. #	Questions	Answers Choice
1	Deferred liabilities are debts which are repayable less than ----------	One month Six month One year None
2	Trading account shows ----------- result.	Net Gross Profit Loss
3	Treble column cash book has three columns of:	Cash, bank and discount Income, expense and bank Cash, bank and profit or loss None
4	A--------------- is an account in which those transaction are entered which cannot be placed to their accounts	Nominal account Suspense account Personal account Debtor account
5	Excess of assets over liabilities is known as:	Capital fund Accumulated fund Surplus fund All options are correct
6	A person is said to be insolvent when his	Assets are sufficient Assets are enough to pay his liabilities Assets are not enough to pay his liabilities None
7	What is accumulated depreciation?	Depreciation expense of the current year Sum of all depreciations in different accounting year Depreciations of previous accounting year None
8	Goodwill is ----------- for company.	Intangible asset Fixed asset Current asset Quick asset
9	Statement of a affairs is a sort of -----------	Profit and loss statement Nominal account Statement of changes in equity Balance sheet
10	Loss which arises due to ----------- is known as abnormal loss	Breakage of goods Leakage Fire Shrinkage