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NAT II Management Science Finance & Accounting MCQs With Answers

Question # 1

Which one is not a functional classification?

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Manufacturing cost

Marketing cost

Finance cost

Mixed cost

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Question # 2

Office salaries are include in

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Direct material cost

Indirect material cost

Factory overhead cost

Total payroll

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Question # 3

Variable cost and fixed cost have been treated as product cost in

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Absorption costing

Direct costing

Full costing

All of above

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Question # 4

A property which is received by virtue of a will of a person after his death is known as

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Legacy

Donation

Subscription

Gift

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Question # 5

How many branches are there in accounting?

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Question # 6

Work in process opening and closing inventory includes:-

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Arterial in process

Labour in process

F.o.H in process

All of the above

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Question # 7

Manufacturing concern cycle is ---------- than trading concern cycle:

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Shorter

Greater

Medium

None of above

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Question # 8

What is accumulated depreciation?

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Depreciation expense of the current year

Sum of all depreciations in different accounting year

Depreciations of previous accounting year

None

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Question # 9

Tenor is the period of time ------------ which a bill becomes payable

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Before

After

Both a and b

None

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Question # 10

During period of rising material prices, ----------- method results in profit inflation

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LIFO

FIFO

Weighted average

All of the above

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Question # 11

The cost flow must watch the

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Output

Outflow

Inflow

Workflow

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