NTS (NAT ICOM Test) FLP 3 Free Quiz

NTS (NAT ICOM Test) – FLP 3

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NTS (NAT ICOM Test) – FLP 3 consists of 110 MCQs covering 6 subjects. You have 120 minutes to complete it. Start with the easier questions and manage your time wisely. Good luck!

Accounting 20 MCQs

1. What is a receipts and payments account?

A. Income and expenditure account B. Receipts and payments account C. Balance sheet D. Trading account

2. What are accounting ethics?

A. Laws B. Regulations C. Accounting ethics D. Procedures

3. What requires accountants to be free from bias?

A. Independence B. Objectivity C. Integrity D. Confidentiality

4. What assumption records transactions when they occur?

A. Cash basis B. Accrual assumption C. Going concern D. Consistency

5. Which organization sets IFRS standards?

A. IASB B. FASB C. SEC D. PCAOB

6. What payments initiated by the bank may not be recorded in the cash book?

A. Cheques B. Deposits C. Cash payments D. Direct debits and standing orders

7. What is a sales budget?

A. Cash budget B. Production budget C. Sales budget D. Purchase budget

8. What system is used in petty cash to maintain a constant balance?

A. Fluctuating system B. Imprest system C. Surplus system D. Deficit system

9. What method starts with net profit and adjusts for non-cash items?

A. Direct method B. Indirect method C. Accrual method D. Cash basis

10. What is a key indicator of financial health?

A. Cash flow from operating activities B. Cash flow from investing activities C. Cash flow from financing activities D. Non-cash activities

11. What is a company?

A. Legal entity B. Partnership C. Sole proprietorship D. Cooperative society

12. What happens when a shareholder fails to pay for shares?

A. Forfeiture B. Surrender C. Transfer D. Redemption

13. What document invites the public to subscribe to shares?

A. Memorandum B. Prospectus C. Articles D. Share certificate

14. What does a debit balance in the creditors control account indicate?

A. Credit balance B. Normal balance C. Zero balance D. Debit balance

15. How is straight-line depreciation calculated?

A. Cost × Rate B. Cost / Useful Life C. (Cost - Residual Value) / Useful Life D. (Cost + Residual Value) / Useful Life

16. What do efficiency ratios measure?

A. Efficiency ratios B. Liquidity ratios C. Profitability ratios D. Solvency ratios

17. Which concept recognizes revenue when earned?

A. Cash basis B. Accrual concept C. Going concern concept D. Prudence concept

18. What is a partnership?

A. Two or more persons sharing profits B. Sole proprietorship C. Joint stock company D. Cooperative society

19. What are capital accounts in partnerships?

A. Always fixed B. Always fluctuating C. Fixed or fluctuating D. Variable

20. What transactions are recorded in a purchases book?

A. Cash purchases B. Credit purchases C. Sales D. Returns

Commerce 20 MCQs

21. What is the difference between advertising and sales promotion?

A. Both short-term B. Both long-term C. Advertising short-term, sales promotion long-term D. Advertising long-term, sales promotion short-term

22. What type of banking operates according to Islamic principles?

A. Islamic banking B. Conventional banking C. Investment banking D. Retail banking

23. What document acknowledges receipt of goods for shipment?

A. Bill of lading B. Invoice C. Purchase order D. Delivery note

24. What is the business environment?

A. All external and internal factors B. Only external factors C. Only internal factors D. Only economic factors

25. What does the economic environment include?

A. Social factors B. Economic factors C. Political factors D. Legal factors

26. What does the political environment include?

A. Economic factors B. Social factors C. Legal factors D. Political factors

27. What is nationalization?

A. Privatization B. Nationalization C. Globalization D. Liberalization

28. What is the practice of meeting present needs without compromising the future?

A. Profitability B. Growth C. Efficiency D. Sustainability

29. What type of communication includes face-to-face conversations?

A. Written communication B. Electronic communication C. Oral communication D. Non-verbal communication

30. What are barriers to communication?

A. Language differences, noise, cultural misunderstandings B. Clear language C. Active listening D. Feedback

31. How does entrepreneurship contribute to economic development?

A. Creating jobs only B. Generating income only C. Creating jobs, generating income, fostering innovation D. Fostering innovation only

32. What is a limit on the quantity of imported goods?

A. Quota B. Tariff C. Subsidy D. Embargo

33. What type of insurance provides protection in case of death?

A. Life insurance B. Fire insurance C. Marine insurance D. Health insurance

34. What is the scope of commerce?

A. Only trade B. Trade and aids to trade C. Only industry D. Only services

35. What does business include?

A. Only commerce B. Only trade C. Only industry D. Commerce, trade, and industry

36. What is the chain of commerce?

A. Trade → production → consumption B. Production → trade → aids to trade → consumption C. Consumption → production → trade D. Aids to trade → trade → production

37. What is the difference between shares and bonds?

A. Both ownership B. Both debt C. Shares debt, bonds ownership D. Shares ownership, bonds debt

38. What is wholesale trade?

A. Retail trade B. Export C. Wholesale trade D. Import

39. What is retail trade?

A. Wholesale trade B. Import C. Export D. Retail trade

40. What type of utility does warehousing create?

A. Time utility B. Place utility C. Form utility D. Possession utility

Economics 20 MCQs

41. What are wants in economics?

A. Basic necessities of life B. Desires for goods and services C. Goods people need D. Services people need

42. Why is the average cost curve U-shaped?

A. Law of variable proportions and economies of scale B. Law of demand C. Law of supply D. Market equilibrium

43. What is a demand schedule?

A. A table showing quantity demanded at different prices B. A graph showing demand C. A law of demand D. A theory of consumption

44. What causes a change in quantity demanded?

A. Change in income B. Change in price of the good C. Change in consumer preferences D. Change in population

45. What is profit in economics?

A. Income from capital B. Income from entrepreneurship C. Income from land D. Income from labor

46. What is functional distribution of income?

A. Division among individuals B. Division among regions C. Division among factors of production D. Division among sectors

47. What is economic development?

A. Only GDP growth B. Only income growth C. Improvements in living standards and welfare D. Only technological progress

48. What is the poverty line?

A. Average income level B. Minimum income for basic needs C. Maximum income level D. Taxable income level

49. Which sector is the backbone of Pakistan's economy?

A. Agriculture B. Industry C. Services D. Information technology

50. Which sector contributes the most to Pakistan's GDP?

A. Agriculture B. Services C. Industry D. Manufacturing

51. What is choice in economics?

A. Selecting one option among alternatives B. Selecting all options C. Having no options D. Eliminating all options

52. What is opportunity cost?

A. Total cost of production B. Money cost C. Value of the next best alternative foregone D. Marginal cost

53. What does capital refer to in economics?

A. Money B. Natural resources C. Man-made resources like machinery D. Human skills

54. What does a production function show?

A. Cost and revenue B. Demand and supply C. Inputs and outputs D. Price and quantity

55. What is average product?

A. Total output B. Marginal output C. Total output per unit of input D. Output per cost

56. What is public expenditure?

A. Government spending B. Government revenue C. Private spending D. Bank spending

57. What is public debt?

A. Private debt B. Corporate debt C. Government debt D. Bank debt

58. What does elasticity of supply measure?

A. Total supply B. Price of goods C. Responsiveness to price change D. Demand for goods

59. What is inelastic supply?

A. Supply changes equally with price B. Supply is perfectly elastic C. Supply is infinitely elastic D. Quantity supplied does not change much with price

60. What happens to the supply curve when supply increases?

A. To the left B. To the right C. Upward D. Downward

English 20 MCQs

61. What conclusion can be drawn from the passage?

A. Water is necessary for survival B. Water is not needed for survival C. Water is harmful D. Water is optional

62. What effect does regular exercise have on mood according to the passage?

A. Worsens mood B. Has no effect on mood C. Improves mood D. Causes sadness

63. What does education do according to the passage?

A. Closes opportunities B. Opens doors to opportunities C. Has no effect on opportunities D. Limits opportunities

64. What is the main idea of the passage?

A. Education is essential for success B. Education is optional C. Education is not needed D. Education is harmful

65. What does the passage say about living organisms?

A. Humans only B. All living organisms C. Animals only D. Plants only

66. What is the main topic of the passage?

A. Dangers of exercise B. Exercise equipment C. History of exercise D. Benefits of exercise

67. Identify the part of speech: I run every morning.

A. Noun B. Adjective C. Adverb D. Verb

68. Identify the part of speech: Please put it on the table.

A. Verb B. Adjective C. Pronoun D. Noun

69. I _____ a new car.

A. have B. has C. is D. am

70. She _____ not like spicy food.

A. do B. did C. doing D. does

71. What is the synonym of CLEVER?

A. Dull B. Slow C. Intelligent D. Foolish

72. What is the synonym of HONEST?

A. Dishonest B. Sincere C. Deceitful D. False

73. What is the synonym of EAGER?

A. Reluctant B. Unwilling C. Indifferent D. Enthusiastic

74. She _____ at the moment.

A. is working B. works C. worked D. has worked

75. The train _____ before we reached the station.

A. arrived B. was arriving C. had arrived D. has arrived

76. I _____ TV when you called.

A. was watching B. watched C. has watched D. had watched

77. She received a _____ for her excellent performance.

A. Complement B. Compliment C. Both D. Neither

78. The weather will _____ our plans for the picnic.

A. Affect B. Effect C. Both D. Neither

79. Can you _____ the sound of the waves?

A. Hear B. Listen C. Both D. Neither

80. I will _____ your invitation to the party.

A. Except B. Accept C. Both D. Neither

Logical and Analytical Thinking 15 MCQs

81. Who is your mother's mother to you?

A. Grandfather B. Grandmother C. Great-grandmother D. Mother

82. Which is a valid cause-effect relationship?

A. Heavy rain causes flooding B. Sunshine causes flooding C. Wind causes flooding D. Clouds cause flooding

83. If 10=5, 8=4, 6=3, then 4=?

A. 2 B. 3 C. 4 D. 5

84. You need to save money for a trip. What is the best course of action?

A. Create a budget B. Spend all money C. Wait D. Stop working

85. You have a project due tomorrow and haven't started. What is the best course of action?

A. Wait B. Start working immediately C. Give up D. Ask for extension

86. You are hungry and have apples, but you don't like them. What is the best decision?

A. Buy something you like B. Eat apples anyway C. Stay hungry D. Eat nothing

87. You have $50. A book costs $30 and a pen costs $15. What is the best decision?

A. Buy nothing B. Buy both C. Buy only the book D. Buy only the pen

88. On a standard map, which direction is to the right?

A. North B. East C. South D. West

89. If you save money, you become wealthy. Ali saves money. What can be inferred?

A. Ali will become poor B. Ali will become wealthy C. Ali will spend money D. Ali will be in debt

90. What is the mirror image of the letter A?

A. A B. B C. C D. D

91. If C is ranked 15th from the top and 25th from the bottom, how many students are there?

A. 40 B. 38 C. 39 D. 41

92. Statement: Social media should be banned for teenagers. Which argument supports this?

A. Teenagers need social media B. It causes addiction and distractions C. Social media is fun D. Parents use social media

93. Statement: Please do not use your phone in class. What is the underlying assumption?

A. Students have phones B. Phones are banned C. Phones are distracting D. Class is important

94. Statement: All roses are flowers. Which conclusion is valid?

A. All flowers are roses B. Some flowers are roses C. No flowers are roses D. Some roses are not flowers

95. Statement: No men are women. Which conclusion is valid?

A. Some men are women B. All men are women C. No women are men D. Some women are men

Quantitative Reasoning 15 MCQs

96. Solve for x: x/5 = 7

A. 25 B. 35 C. 45 D. 50

97. Solve: x + 3 = 2x - 5

A. 8 B. 4 C. 6 D. 10

98. Solve for x: 4x = 32

A. 4 B. 6 C. 7 D. 8

99. What is 81 ÷ 9?

A. 7 B. 8 C. 10 D. 9

100. What is 93 - 47?

A. 56 B. 46 C. 36 D. 66

101. If 2:7 = 6:x, what is the value of x?

A. 14 B. 21 C. 28 D. 35

102. What is 10% of 200?

A. 20 B. 10 C. 30 D. 40

103. What is 60% of 500?

A. 300 B. 200 C. 250 D. 350

104. What is 10% of 200?

A. 20 B. 10 C. 30 D. 40

105. If 2:7 = 6:x, what is the value of x?

A. 14 B. 21 C. 28 D. 35

106. What is the volume of a cube with side 6 cm?

A. 36 cm² B. 72 cm³ C. 144 cm³ D. 216 cm³

107. What is the area of a circle with radius 3 cm? (Use π=3.14)

A. 28 cm² B. 28.26 cm² C. 18.84 cm² D. 9.42 cm²

108. What is the perimeter of a square with side 12 cm?

A. 36 cm B. 48 cm C. 24 cm D. 60 cm

109. What is the area of a triangle with base 12 m and height 8 m?

A. 96 m² B. 48 m² C. 20 m² D. 24 m²

110. How long does it take to travel 240 km at 60 km/h?

A. 3 hours B. 4 hours C. 5 hours D. 6 hours

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