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