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