Accountancy Nios plus two II Welcome to your Accountancy Nios plus two II 1. Which of the following is included in the Trading Account? Interest Paid Wages and Carriage Inward Office Rent Salaries to Manager None Hint 2. What is the correct accounting equation? Capital = Assets + Liabilities Assets = Liabilities + Capital Assets = Capital – Liabilities Assets = Income – Expenses None Hint 3. Revenue receipts are: Considered as capital Not considered in calculating profit Related to sale of fixed assets Considered in calculating income None Hint 4. Which of the following is not a capital receipt? Sale of old furniture Capital introduced by the owner Loan from a bank Sale of goods None Hint 5. Capital Receipts are generally: Earned from daily operations Recorded on debit side of P&L Recurring in nature Non-recurring in nature None Hint 6. Revenue receipts are usually: Treated as capital Non-recurring in nature Not shown in financial statements Recurring in nature None Hint 7. The nature of capital receipts is: Profit Revenue Income Capital None Hint 8. Capital receipts are: Same as revenue receipts Treated as daily income Recorded on the debit side of the Trading Account Not treated as income None Hint 9. Revenue Expenditure gives benefit for: Several years One accounting year No specific time Five years None Hint 10. Which of the following tasks is performed by CAS software? Booking movie tickets Updating customer accounts in Sales Ledger Editing YouTube videos Drawing cartoons None Hint 11. Capital receipts arise from: Sale of fixed assets Sale of goods Interest received Rent received from tenants None Hint 12. Which of the following is a recurring activity in CAS? Creating ledger groups Setting organisation name Generating reports Creating master files None Hint 13. Gross Profit is calculated as: Net Sales – Net Purchases Opening Stock + Purchases Cost of Goods Sold – Net Sales Net Sales – Cost of Goods Sold None Hint 14. Which of the following is an example of Capital Expenditure? Purchase of machinery Salaries paid Purchase of raw material Repair of furniture None Hint 15. What is the role of ‘Data Audit’ in CAS software? Track expenses Prevent data loss Create financial reports Identify changes and who made them None Hint 16. Which of the following is not a financial statement? Memorandum of Association Trading Account Balance Sheet Income Statement None Hint 17. The Balance Sheet is also known as: Annual Report Position Statement Operational Sheet Revenue Sheet None Hint 18. Deferred revenue expenditure: Occurs every month Is an item of liability Gives benefits over a long period Is ignored while preparing accounts None Hint 19. Which of the following statements is true? Revenue receipts are not recorded in the Profit & Loss Account Capital receipts do not arise from regular business operations Capital receipts occur frequently Revenue receipts are non-recurring None Hint 20. The main purpose of preparing a Trading Account is to: Show capital of the business Find out Gross Profit or Gross Loss Determine the financial position Find out Net Profit None Hint 21. What are financial statements? Statements showing future plans of a business Statements prepared at the end of the accounting period Reports of marketing activities List of business employees None Hint 22. Revenue Expenditure is usually: Non-recurring Recorded in Balance Sheet Recurring Capital in nature None Hint 23. Capital Expenditure is shown in the: Cash Flow Statement Income Statement Notes to Accounts Balance Sheet None Hint 24. None 25. The main purpose of preparing an Income Statement is: To calculate tax To find the value of assets To ascertain profit or loss To know the number of employees None Hint 26. Which of the following is a revenue receipt? Amount received from sale of machinery Rent received from tenants Loan taken from bank Capital introduced by owner None Hint Time's up Share: admin Previous post Accountancy Nios plus two I September 26, 2025 Next post English NIOS NEW plus two I January 22, 2026
