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