Question # 1

Petty cash book is a book which record

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Assets

Liabilities

Large payments

Small payments

Which one is not include in factory overhead?

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Power hear & light

Indirect labour cost

Depreciation of plant

Salary of accountant

In operating expense includes

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Marketing expense

Admin expense

Selling expense

All of the above

The technique and process of ascertaining cost is termed as

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Costing

Cost accounting

Calculation of cost

Controlling cost

What is negotiable instrument?

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A document which is not transferable

A document which is transferable

A document which is accepted

None

A--------------- is an account in which those transaction are entered which cannot be placed to their accounts

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Nominal account

Suspense account

Personal account

Debtor account

Bin card is maintained by

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Purchase manager

Sales manager

Store keeper

Finance manager

The cost flow must match the

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Output

Outflow

Inflow

Workflow

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

Debentures are

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Fixed assets

Fixed liabilities

Capital

Prepaid expenses

Rebate is the --------- in the amount of bill paid

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Premium

Increase

Expense

Concession

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NAT II Management Science Finance & Accounting MCQs With Answers

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