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