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