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