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