Accountancy Nios Plus Two PQ II Welcome to your Accountancy Nios Plus Two PQ II Total Questions: 157 Name Mobile No: 1. Write the steps involved to copy a chart to Word. Insert new chart in Word manually Screenshot chart → Paste in Word Select chart → Copy (Ctrl + C) → Open Word → Paste (Ctrl + V) Select chart → Press Delete → Open Word → Paste None Hint 2. Explain how issue of shares for consideration other than cash is recorded in the books of accounts. Vendor A/c Dr. To Asset A/c Asset A/c Dr. To Share Capital A/c To Securities Premium A/c (if any) Share Capital A/c Dr. To Asset A/c Cash A/c Dr. To Share Capital A/c None Hint 3. Give the meaning of Sacrificing Ratio. How it is calculated ? The ratio in which old partners gain from the retirement of a partner. The ratio in which existing partners agree to sacrifice their share of profit in favour of a new partner. The ratio in which new partner sacrifices his share in favour of existing partners. The ratio of capital contributed by partners. None Hint 4. Angel Ltd., a stock broker, purchase 5,000 shares of Tata Housing Ltd., it is a : General Activity Financing Activity Operating Activity Investing Activity None Hint 5. Write names of affected accounts while making Journal Entries of the following transactions : Salaries paid Salary A/c & Capital A/c Salary A/c & Cash A/c Expense A/c & Drawings A/c Cash A/c & Salary A/c None Hint 6. Give a name of the accounting error for the following transactions : Wages paid for the construction of office debited to wages account. Error of Commission Error of Omission Error of Principle Compensating Error None Hint 7. Explain how issue of shares for consideration other than cash is recorded in the books of accounts. Purchase A/c Dr. To Share Capital A/c Asset A/c Dr. To Share Capital A/c Vendor A/c Dr. To Share Capital A/c Fixed Asset A/c Dr. To Cash A/c None Hint 8. Liabilities of a firm are ₹ 8,000 and total Assets are ₹ 20,000. What is the capital of the proprietor ? ₹ 28,000 ₹ 12,000 ₹ 20,000 ₹ 8,000 None Hint 9. Pass necessary Journal Entry when: An unrecorded liability is discharged by a partner on behalf of the firm Partner’s Capital A/c Dr. To Liability A/c No Entry Liability A/c Dr. To Cash A/c Liability A/c Dr. To Partner’s Capital A/c None Hint 10. One purpose of using Securities Premium Reserve? Pay director salary Write off preliminary expenses Declare dividend Buy back goods None Hint 11. Cash Balance ₹ 15,000, Trade Receivables ₹ 35,000, Inventory ₹ 40,000, Trade payables ₹ 24,000; Bank overdraft ₹ 6,000 Current Ratio will be : 1 : 3 3.75 : 1 3 : 1 1 : 3.75 None Hint 12. Ideal Current Ratio is: 1:3 1:1 1:2 2:1 None Hint 13. Using Charts/Graph tools in Excel – explain how to modify a chart: To reverse the data which are displayed in the rows and columns Use copy-paste Use "Switch Row/Column" option under Chart Design Rotate chart manually Insert pivot chart None Hint 14. When shares are issued to promoters of the company as remuneration for their services, which account is debited? Preliminary Expenses Account Promoters' Capital Account Goodwill Account Share Capital Account None Hint 15. Angel Ltd., a stock broker, purchases 5,000 shares of Tata Housing Ltd., it is a: Investing Activity Operating Activity General Activity Financing Activity None Hint 16. State the earning elements used in Pay Roll calculations. Also state how these are calculated. Only Basic Pay Gross Salary – Net Salary Basic Pay – Income Tax Only Basic Pay + HRA + Allowances – Deductions None Hint 17. If goodwill already appears in the books at the time of a partner's retirement or death, how is it treated? It is transferred to the retiring partner only It is distributed in the new ratio It is written off among all partners in the old ratio It is ignored in books of accounts None Hint 18. When proprietor draws goods from the business for personal use, it is known as — Purchase Sales Drawings Expense None Hint 19. Give a name of the accounting error for the following transactions : Goods sold for ₹4,200 to Hari Om on credit were omitted from accounts although cash received Error of Omission Error of Commission Compensating Error Error of Principle None Hint 20. Transactions, when recorded in Journal, are known as: Accounts Entries Postings Vouchers None Hint 21. Using Charts/Graph tools in Excel – explain how to modify a chart: To move the chart Click and drag to new location Paste into Word Use chart filter Delete chart None Hint 22. As per Rules of Accounting, Increase in Asset is _______ and decrease in Asset is _______ Debited; Credited Credited; Credited Debited; Debited Credited; Debited None Hint 23. Give one word answer for the following: Transactions, when recorded in Journal, are known as Entries Posting Narration Notes None Hint 24. Steps to copy a chart to Word (Choose the correct option): Copy Excel file → Paste into Word header Select chart → Copy → Open Word → Paste Delete chart → Open Word → Paste Use Snipping Tool → Paste image in Word None Hint 25. Differentiate between 'Public Company' and 'Private Company' on the basis of : Name Public – Corporation; Private – Firm Public – Inc.; Private – LLP Public – Ltd.; Private – Pvt. Ltd. Public – Pvt. Ltd.; Private – Ltd. None Hint 26. Angel Ltd., a stock broker, purchases 5,000 shares of Tata Housing Ltd., it is a: Operating Activity Financing Activity General Activity Investing Activity None Hint 27. The Net salary payable to an employee is obtained by deducting ______ from ______. Gross Salary from Deductions Allowances from Gross Salary Gross Salary from Net Salary Deductions from Gross Salary None Hint 28. Which of the following account is prepared by a Not-For-Profit Organisation ? Profit and Loss Account Trading Account Total Creditors Account Income and Expenditure Account None Hint 29. Pass necessary Journal Entry when: An unrecorded liability has been discharged by the firm. Liability A/c Dr. To Cash A/c No Entry Liability A/c Dr. To Capital A/c Cash A/c Dr. To Liability A/c None Hint 30. That part of share capital which is uncalled and kept in reserve is called _ Securities Premium Reserve Account Reserve Capital Account Share Capital Account Capital Reserve Account None Hint 31. Give any three reasons of preparing 'Receipts and Payments Accounts' by Not-for-Profit organisations. To calculate net profit or loss of the organisation. To assess depreciation of assets. To record only capital receipts and capital payments. To show summary of all cash and bank transactions during the year. None Hint 32. Which of the following Component of MS Access is used to create various reports as per the requirement of the end user ? Table Object Forms Object Report Object Queries None Hint 33. Net Purchases = Cash Purchases + Credit Purchases – ? Purchases Return Expenses Sales Capital None Hint 34. What is meant by Cash Flow Statement? State two objectives. Shows fund flow from capital structure only A statement showing inflows/outflows of cash and cash equivalents Shows only cash inflow from operating activities and net worth A statement showing total revenue and taxes None Hint 35. Calculate the gross profit ratio from the following data: Sales ₹ 3,25,000; Sales returns ₹ 25,000 and Cost of revenue from operations ₹ 2,40,000. 40% 20% 30% 25% None Hint 36. In MS Access, the 'Caption' property for text data type means: a label used for the field in data sheet and on forms and reports how the field's contents are displayed single, double or decimal type of numbers specifying a value for new entries of data records None Hint 37. What is meant by 'Unearned Income'? Give accounting treatment and Adjustment entry of unearned income. Treat as accrued income Shown under drawings Show as capital reserve Deduct from income and shown as liability None Hint 38. "Cash from operating activities" will decrease due to: Both (A) and (B) above Increase in Current Liabilities Decrease in Current Liabilities Increase in Current Assets None Hint 39. Fill in the blanks At the time of dissolution of partnership firm, balance of general reserve is transferred to _______. Partner’s Capital Accounts Reserve Fund Account Realisation Account Revaluation Account None Hint 40. In Excel software Pie chart cannot plot more than : Eight Categories Seven Categories Four Categories Ten Categories None Hint 41. Give one word answer to the following: Which account will be debited on money withdrawn from Bank for personal use? Capital Account Bank Account Cash Account Drawings Account None Hint 42. Explain formatting the chart using the design option. Modify chart layout, style, switch row/column, add chart elements Change background color only Add text box Insert video into chart None Hint 43. State the earning elements used in Pay Roll calculations. Also state how these are calculated ? Basic Pay, HRA, DA, Bonus – all added to calculate Gross Salary Basic Pay, Loan, Rent – all added for Gross Salary Commission, PF, Gratuity – added to Net Pay TDS, PF, ESI, Bonus – all deducted from Net Salary None Hint 44. Which of the following is treated as an unrecorded asset ? Goodwill appearing in the Balance Sheet Sale of old Furniture Sale of Investments Bad debts recovered, written off in previous year None Hint 45. Calling cells by just their columns and row labels is called: Both (A) and (B) Mixed referencing Absolute referencing Relative referencing None Hint 46. Give a name of the accounting error for the following transactions : Wages paid for construction of office building debited to wages account — Compensating Error Error of Commission Error of Omission Error of Principle None Hint 47. State any three features of 'Single Entry - System'. It is incomplete and unscientific method of accounting. It maintains double entry for all transactions. It is a scientific method of accounting. It records only credit transactions systematically. None Hint 48. Fill in the blanks: At the time of dissolution of partnership firm, balance of general reserve is transferred to _______. Revaluation Account Partner’s Loan Account Realisation Account Partner’s Capital Accounts None Hint 49. Gurman’s A/c short credited by ₹1,000; Manisha’s A/c excess credited by ₹1,000 Compensating Error Error of Principle Error of Omission Error of Commission None Hint 50. A firm earns profit of ₹ 1,30,000 on a capital of ₹ 10,00,000 and normal rate of return in similar business is 10%, super profit will be : ₹ 1,30,000 ₹ 1,00,000 ₹ 1,13,000 ₹ 30,000 None Hint 51. When realisation expenses are paid by a partner on behalf of the firm, which of the following account is credited ? Expense Account Realisation Account Cash Account Partner's Capital Account None Hint 52. Which of the following is not an error of principle ? Sale of an old car credited sales Account. Repairs on the overhauling of second hand machinery purchased is not recorded in the books of accounts. Typewriter purchased for office use has been debited to Purchases Accounts. Purchase Book is totalled ₹ 20,000 instead of ₹ 15,500. None Hint 53. Fill in the blanks: At the time of death of a partner, his/her executor is entitled to all the rights of a _______ to _______. creditor; receive dues partner; liabilities creditor; the firm shareholder; dividends None Hint 54. State any one purpose for which securities premium reserve amount can be utilized. Write off preliminary expenses Buy back preference shares Pay salaries to employees Distribute among shareholders as dividend None Hint 55. Balance of Provision for Doubtful Debts as on 1st April 2023 was ₹ 2,500. Bad debts during the year were ₹ 600. A provision for Doubtful Debts is to be credited @ 5% on debtors of ₹ 20,000. Provision for doubtful Debts credited to Profit and Loss Account will be : ₹ 800 ₹ 1,000 ₹ 1,200 ₹ 900 None Hint 56. Sale of Machinery on credit is recorded in : Sales Book Cash Book Bank Pass-Book Journal Proper None Hint 57. At the time of retirement of a partner, Loss on revaluation will be debited to the partners' Revaluation Account Loan Account Capital Account Drawing Account None Hint 58. Which account will be debited on money withdrawn from bank for personal use? Capital Account Cash Account Bank Account Drawings Account None Hint 59. Pass necessary Journal Entries: When an unrecorded liability is discharged by a partner on behalf of the firm, the Journal Entry is: Liability A/c Dr. To Partner’s Capital A/c Partner’s Capital A/c Dr. To Realisation A/c Realisation A/c Dr. To Liability A/c Realisation A/c Dr. To Partner’s Capital A/c None Hint 60. Which facility is offered to store and process transaction data in computerised accounting system to retrieve information to generate and view financial reports? Reporting MIS (Management Information System) Ledger Posting Data Entry None Hint 61. Complete the following Sentences: In cash flow statement, the amount of interim dividend paid during the year is shown as: Financing Activity Operating Activity Investing Activity Non-cash Activity None Hint 62. Complete the Sentences Buy back of equity shares is shown as cash outflow from which type of activity? Investing Activity Extraordinary Item Financing Activity Operating Activity None Hint 63. After the preparation of realisation account, gain or loss on realisation is transferred to: Partners’ Capital Accounts Cash Account Revaluation Account Partners' Drawing Account None Hint 64. Gain of a partner is : New Ratio - Sacrificing Ratio New Ratio - Existing (Old) Ratio Sacrificing Ratio - New Ratio Existing (Old) Ratio - New Ratio None Hint 65. What journal entry is to be made at the time of a dissolution of partnership firm when : Assets are taken over by the partners Realisation A/c Dr. To Partner’s Capital A/c Asset A/c Dr. To Partner’s Capital A/c No Entry Partner’s Capital A/c Dr. To Asset A/c None Hint 66. In Income & Expenditure A/c, 'Accrued Interest' is shown on — Expenditure Side Income Side Receipts Side Payments Side None Hint 67. Give a name of the accounting error for the following transactions : Purchase of Furniture is entered in Purchase Book Error of Commission Clerical Error Error of Principle Error of Omission None Hint 68. Give one word answer for the following: Depreciation reduces the value of Capital Liability Asset Revenue None Hint 69. Give the meaning of Sacrificing Ratio. How is it calculated ? The ratio in which profits are distributed among all partners The ratio in which old partners sacrifice a part of their share in favour of a new partner The ratio of capital invested by the partners The ratio in which new profit is shared by partners None Hint 70. After the preparation of realisation account, gain or loss on realisation is transferred to Loan Account Revaluation Account Profit and Loss Account Partner’s Capital Account None Hint 71. In case of profit on re-issue of forfeited share, it is transferred to: Capital Reserve Account Share Capital Account General Reserve Account Securities Premium Reserve Account None Hint 72. Explain how re-issue of Forfeited shares at discount is recorded in the books of accounts. Discount allowed on re-issue is debited to Forfeited Shares Account Discount allowed is not permitted on re-issue Discount allowed on re-issue is debited to Share Capital Account Discount allowed on re-issue is credited to Capital Reserve Account None Hint 73. Write names of affected accounts while making Journal Entries of the following transactions : Depreciation charged on furniture Expense A/c & Asset A/c Depreciation A/c & Furniture A/c Furniture A/c & Depreciation A/c Cash A/c & Furniture A/c None Hint 74. Which element of a chart provides additional information about a data marker? The Data Labels The Data points The plot area The legend None Hint 75. When a company decides to raise capital by issuing shares, at that time give the meaning of : Under Subscription refers to: All shares are allotted Shares applied are less than issued Oversold shares Shares applied are more than issued None Hint 76. As per Rules of Accounting, Increase in Asset is ______ and decrease in Asset is ______ Credit, Debit Credit, Credit Debit, Credit Debit, Debit None Hint 77. Calculate the gross profit ratio from the following data : Sales ₹ 3,25,000; Sales returns ₹ 25,000 and Cost of revenue from operations ₹ 2,40,000. 20% 30% 18% 25% None Hint 78. Complete the Sentences In cash flow statement, the amount of interim dividend paid during the year is shown as: Financing Activity Operating Activity Extraordinary Item Investing Activity None Hint 79. Give the meaning of : Called-up Capital means: Capital that is authorized to be issued Capital shown in books only Capital demanded from shareholders Capital actually received None Hint 80. Write names of affected accounts while making Journal Entries of the following transactions: Goods sold for cash Sales A/c and Cash A/c Cash A/c and Purchases A/c Cash A/c and Capital A/c Sales A/c and Purchases A/c None Hint 81. Give necessary Journal Entry for treatment of goodwill on retirement of a partner stating the ratio in which goodwill is to be distributed. Gaining Partners’ Capital A/cs Dr. To Goodwill A/c Goodwill A/c Dr. To All Partners’ Capital A/cs Retiring Partner’s Capital A/c Dr. To Goodwill A/c Gaining Partners’ Capital A/cs Dr. To Retiring Partner’s Capital A/c None Hint 82. Cash from operating activities” will decrease due to : Both (A) and (B) above Increase in Current Assets Decrease in Current Liabilities None of these None Hint 83. In Excel software Pie chart cannot plot more than: Seven Categories Seven Categories Eight Categories Ten Categories Four Categories None Hint 84. What journal entry is to be made at the time of a dissolution of partnership firm when : Payment of liabilities by the partners Partner’s Capital A/c Dr. To Liability A/c Liability A/c Dr. To Bank A/c Liability A/c Dr. To Partner’s Capital A/c Realisation A/c Dr. To Bank A/c None Hint 85. Which element of a chart provides the additional information about a data marker to identify the details of data point in a data series? The Data points The Data Labels The plot area The legend None Hint 86. Complete the following sentences: In cash flow statement, under which head “Purchase of fixed assets during the year” is shown? Investing Activity Exceptional Activity Operating Activity Financing Activity None Hint 87. In case of profit on re-issue of forfeited share is, it is transferred to : Share Capital Account General Reserve Account Capital Reserve Account Securities Premium Reserve Account None Hint 88. The Net salary payable to an employee is obtained by deducting ______ from ______. Bonus from Net Salary Deductions from Gross Salary Tax from Net Salary Allowances from Basic Pay None Hint 89. 'Dividend received' by other than financial enterprise is shown in cash flow statement under: Financing Activities Operating Activities Investing Activities General Activities None Hint 90. Give the meaning of : Reserve Capital refers to: Capital used for bonus shares Authorized capital Capital kept in a separate bank Portion of subscribed capital not to be called up except in winding up None Hint 91. Which element of a chart provides the additional information about a data marker to identify the details of data point in a data series ? The plot area The legend The Data Labels The Data points None Hint 92. Give a name of the accounting error for the following transactions : Goods sold on credit to Hari Om omitted from books — Error of Omission Compensating Error Error of Commission Error of Principle None Hint 93. Which of the following Component of MS Access is used to create various reports as per the requirement of the end user? Queries Forms Object Report Object Table Object None Hint 94. If a share of ₹ 10 each on which ₹ 9 called up (including premium of ₹ 2) and ₹ 7 paid up (including premium of ₹ 1) is forfeited Securities Premium Reserve Account will be debited by :* Zero ₹ 1 ₹ 2 ₹ 3 None Hint 95. Cash Balance ₹15,000, Trade Receivables ₹35,000, Inventory ₹40,000, Trade Payables ₹24,000, Bank Overdraft ₹6,000; Current Ratio will be: 3.75 : 1 3 : 1 1 : 3 1 : 3.75 None Hint 96. Which account shows Surplus or Deficit in case of Not-For-Profit Organisation? Capital Account Income and Expenditure Account Receipts and Payments Account Profit and Loss Account None Hint 97. Write names of affected accounts while making Journal Entries of the following transactions : Goods purchased on credit Capital A/c & Purchases A/c Sales A/c & Debtors A/c Purchases A/c & Creditors A/c Cash A/c & Sales A/c None Hint 98. Give a name of the accounting error for the following transactions : Purchase of Furniture entered in Purchase Book — Error of Posting Error of Totalling Error of Commission Error of Principle None Hint 99. Buy back of equity shares is shown as cash outflow from which type of activity? Buy back of equity shares is shown as cash outflow from which type of activity? Investing Activity Financing Activity Operating Activity Trading Activity None Hint 100. The mostly used input devices are keyboard, ______ and ______ Monitor and Printer Speaker and Joystick CPU and Monitor Scanner and Mouse None Hint 101. Accrued Interest is shown on which side of Income & Expenditure A/c? Debit side Liability side Asset side Credit side None Hint 102. In Excel software Pie chart cannot plot more than: Eight Categories Ten Categories Seven Categories Four Categories None Hint 103. Debt equity ratio indicates risky financial position from the long term point of view if it exceeds: 2:1 3:1 1:2 1:1 None Hint 104. Debt equity ratio indicates risky financial position from the long term print of view if it exceeds : 1 : 2 3 : 1 2 : 1 1 : 1 None Hint 105. Write names of affected accounts while making Journal Entries of the following transactions: Depreciation charged on furniture Furniture A/c and Profit & Loss A/c Depreciation A/c and Capital A/c Depreciation A/c and Furniture A/c Furniture A/c and Cash A/c None Hint 106. Which of the following is a limitation of a Cash Flow Statement? It is useful for assessing cash generation ability It shows liquidity position of the business It helps in short-term financial planning It records only cash transactions, ignoring non-cash items None Hint 107. At the time of retirement of a partner, Loss on revaluation will be debited to the partners' Capital Account in which Ratio? Gaining Ratio Sacrificing Ratio Equal Ratio Old Profit Sharing Ratio None Hint 108. If at the time of retirement/death of a partner, goodwill already appears in the balance sheet, how will it be treated ? Also give the necessary Journal Entry. It is written off by debiting all partners’ capital accounts in old ratio. It is transferred to General Reserve. It is credited to Retiring Partner’s Capital Account only. It is ignored and no adjustment is required. None Hint 109. Write names of affected accounts while making Journal Entries of the following transactions: Salaries paid Wages A/c and Bank A/c Salaries A/c and Debtors A/c Salaries A/c and Cash A/c Capital A/c and Salaries A/c None Hint 110. Which of the following are limitations of a cash flow statement? All of the above Ignores non-cash transactions Cannot reflect profitability accurately Historical in nature and not predictive None Hint 111. State any three limitations of cash flow statement. It reflects profitability accurately. It is a complete replacement of the income statement. t ignores non-cash transactions, does not assess true profitability, and may be misinterpreted. It records all types of transactions including non-cash ones. None Hint 112. Data Base management system overcomes the limitation such as : Data duplicity All of the above Data redundancy and inconsistency Data isolation None Hint 113. 'Life-Membership-fee' received by Not-For-Profit Organisation is shown as : Payment in 'Receipts and Payments Account' Income in 'Income and Expenditure Account' Expenditure in 'Income and Expenditure Account' Capital receipt and added in the capital fund of Balance sheet None Hint 114. Give one word answer to the following: Which facility is offered to store and process transaction data in computerised accounting system to retrieve information to generate and view financial reports? Accounting Software Tally Spreadsheet Database Management System None Hint 115. Write names of affected accounts while making Journal Entries of the following transactions : Goods sold for cash Cash A/c & Capital A/c Sales A/c & Cash A/c Purchases A/c & Cash A/c Capital A/c & Sales A/c None Hint 116. ‘Dividend received by other than financial enterprise is shown in cash flow statement under : General Activities Financing Activities Investing Activities Operating Activities None Hint 117. Explain the Accounting treatment of settlement of Partner's Capital Accounts at the time of dissolution of a partnership firm : When Partner's Capital Account shows a credit balance. Partner pays the firm Adjusted through Reserve A/c Shown as expense Firm pays the amount to the partner None Hint 118. Ideal Current Ratio is : 1 : 3 2 : 1 1 : 2 1 : 1 None Hint 119. What is meant by 'Unearned Income'? Give accounting treatment and Adjustment entry of unearned income. Unearned income refers to income not yet received but already earned. Adjustment Entry: Income A/c Dr. To Unearned Income A/c Unearned income refers to income already received and recorded but not yet earned. Adjustment Entry: Unearned Income A/c Dr. To Income A/c Unearned income is recorded only in the balance sheet and does not need adjustment. Unearned income is profit from sale of fixed assets. Adjustment Entry: Asset A/c Dr. To Profit A/c None Hint 120. Net Purchases = Cash Purchases + Credit Purchases – _______ Sales Wages Goods Lost by Fire Purchase Returns None Hint 121. Explain how re-issue of Forfeited shares at discount is recorded in the books of accounts. Bank A/c Dr. To Share Capital A/c Bank A/c Dr. Forfeited Shares A/c Dr. To Share Capital A/c Bank A/c Dr. To Discount on Issue of Shares A/c Share Capital A/c Dr. To Bank A/c None Hint 122. When shares are issued to promoters for their services, which account is debited? Share Capital A/c Goodwill A/c Cash A/c Capital Reserve A/c None Hint 123. Complete the following sentences: In cash flow statement, the amount of interim dividend paid during the year is shown as: Financing Activity Operating Activity Investing Activity Non-Cash Activity None Hint 124. Ideal Current Ratio is: 1:3 1:2 2:1 1:1 None Hint 125. Gurman's A/c short credited and Manisha's A/c over credited — Compensating Error Error of Principle Error of Omission Error of Commission None Hint 126. If a share of ₹ 10 on which ₹ 8 called up and ₹ 5 paid up has been forfeited the share capital. Account will be debited by :* ₹ 8 ₹ 10 ₹ 6 ₹ 5 None Hint 127. Which of the following sub-unit of central processing unit stores data before being actually processed ? Logic Unit Output Unit Control Unit Memory Unit None Hint 128. Once the data type is specified, MS Access allows designer to define properties of each column. In the context of text data type, one of the general properties relate to ‘Caption’ which means: single, double or decimal type of numbers a label used for the field in datasheet and on forms and reports how the field's contents are displayed specifying a value for new entries of data records None Hint 129. That part of share capital which is uncalled and kept in reserve is known as? Called-up Capital Reserve Capital Authorised Capital Issued Capital None Hint 130. Using Charts/Graph tools in Excel – explain how to modify a chart: To change the data included in the chart Resize columns Change workbook theme Delete cells Use “Select Data” option under Chart Design None Hint 131. Give the meaning of : Paid-up Capital means: Future capital to be paid Total face value of shares issued Portion of called-up capital actually paid Amount demanded but not paid None Hint 132. Data Base management system overcomes the limitation such as : Data redundancy and inconsistency Data isolation Data duplicity All of the above None Hint 133. Complete the following sentences: Goodwill written off is shown in cash flow statement under which type of activity? Financing Activity Operating Activity None of these Investing Activity None Hint 134. Complete the sentence The mostly used input devices are keyboard, ______ and ______ mouse, monitor monitor, printer mouse, scanner printer, speake None Hint 135. Differentiate between 'Public Company' and 'Private Company' on the basis of : Maximum number of members Public – 200; Private – Unlimited Public – 100; Private – 50 Public – 500; Private – 100 Public – Unlimited; Private – 200 None Hint 136. What journal entry is to be made at the time of a dissolution of partnership firm when : For transfer of assets to Realisation Account Assets A/c Dr. To Realisation A/c Bank A/c Dr. To Realisation A/c Realisation A/c Dr. To Assets A/c Realisation A/c Dr. To Partner’s Capital A/c None Hint 137. Calling cells by just their columns and row labels is called Absolute referencing Relative referencing Both (A) and (B) Mixed referencing None Hint 138. Pass necessary Journal Entry when : An unrecorded liability has been discharged by the firm. Liability A/c Dr. To Realisation A/c Cash/Bank A/c Dr. To Realisation A/c Realisation A/c Dr. To Cash/Bank A/c Realisation A/c Dr. To Liability A/c None Hint 139. Share capital A/c credited by? (Share of ₹10, premium ₹2, ₹7 received) ₹10 ₹9 ₹7 ₹8 None Hint 140. When a company decides to raise capital by issuing shares, at that time give the meaning of : Full Subscription refers to: Shares applied exactly equal to shares issued Partial share application Shares issued more than required Government subscription None Hint 141. Depreciation reduces the value of: Liabilities Assets Income Expenses None Hint 142. When a company decides to raise capital by issuing shares, at that time give the meaning of : Over Subscription refers to: No shares are issued Applications received are more than number of shares issued Shares issued are less than applied Subscription by foreign investors None Hint 143. Which of the following Component of MS Access is used to create various reports as per the requirement of the end user? Forms Object Table Object Report Object Queries None Hint 144. Which account shows Surplus or Deficit in Not-For-Profit Organisation — Income and Expenditure Account Capital Fund Account General Fund Receipts and Payments Account None Hint 145. Explain the Accounting treatment of settlement of Partner's Capital Accounts at the time of dissolution of a partnership firm : When Partner's Capital Account shows a debit balance. Transferred to Profit and Loss A/c The partner pays the amount to the firm The firm pays the amount to the partner Shown in the balance sheet None Hint 146. Complete the following sentences: Buy back of equity shares is shown as cash outflow from which type of activity? Investing Activity Non-Cash Activity Financing Activity Operating Activity None Hint 147. Fill in the blanks At the time of death of a partner, his/her executor is entitled to all the rights of a _______. Debtor Manager Partner Creditor None Hint 148. Calculate the gross profit ratio from the following data : Sales ₹ 3,25,000; Sales returns ₹ 25,000 and Cost of revenue from operations ₹ 2,40,000. 15% 18% 20% 25% None Hint 149. Differentiate between 'Public Company' and 'Private Company' on the basis of : Minimum number of members Public – 5; Private – 10 Public – 3; Private – 3 Public – 7; Private – 2 Public – 2; Private – 7 None Hint 150. Give one word answer of the following : A share of ₹ 10 issued at a premium of ₹ 2 on which the full amount is called up and ₹7 ₹10 ₹8 ₹2 None Hint 151. What is meant by cash flow statement ? State two objectives of preparing cash flow statement. It is used only for taxation purposes. It shows only the profits and losses of a business. It is a statement that shows cash inflows and outflows during a specific period, and helps assess liquidity and cash management. It is a statement used to record non-cash transactions. None Hint 152. Calling cells by just their columns and row labels is called: Mixed referencing Relative referencing Absolute referencing Both (A) and (B) None Hint 153. Using Charts/Graph tools in Excel – explain how to modify a chart: To modify the labels and titles Insert shapes Change font from Home tab Format axis only Use “Chart Elements” (+ icon) and select Titles/Labels None Hint 154. What is meant by cash flow statement ? State two objectives of preparing cash flow statement. A summary of all accounting records; Helps calculate depreciation and tax A financial report showing cash inflows and outflows; Helps in budgeting and tax filing A report showing cash inflows/outflows during a period; Helps in assessing liquidity and cash generation A summary of bank balance; Used to track profitability None Hint 155. Once the data types are specified, MS Access allows the designer to define properties of each column. In the context of text data type, one of the general properties related to 'Caption' means: Specifying a value for new entries of data records How the field's contents are displayed Single, double or decimal type of numbers A label used for the field in datasheet and on forms and reports None Hint 156. When proprietor draws goods from the business for his/her personal use, it is known as? Capital Expense Drawings Liability None Hint 157. Write names of affected accounts while making Journal Entries of the following transactions: Goods purchased on credit Capital A/c and Purchases A/c Purchases A/c and Debtor's A/c Cash A/c and Purchases A/c Purchases A/c and Creditor’s A/c None Hint Time's up Share: admin Previous post Accountancy Nios Plus Two PQ I June 30, 2025 Next post History Nios Plus Two PQ VIII July 1, 2025
