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