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