Accountancy Nios Plus Two PQ I Welcome to your Accountancy Nios Plus Two PQ I Total Questions: 100 Name Mobile No: 1. In Excel software, Pie chart cannot plot more than: Seven Categories Eight Categories Four Categories Ten Categories None Hint 2. What is meant by pro-rata allotment of shares? All shares are allotted equally to all applicants regardless of amount applied Shares are allotted in proportion to the number of shares applied when there is oversubscription Shares are allotted only to promoters Shares are allotted at a premium only None Hint 3. Once the data type is specified, MS Access allows the designer to define properties of each column. In the context of text data type, one of the general properties relates to 'Caption' which means: single, double or decimal type of numbers how the field's contents are displayed specifying a value for new entries of data records a label used for the field in datasheet and on forms and reports None Hint 4. What does the “Design” tab allow you to do when formatting a chart in Excel? Apply conditional formatting to cells Insert mathematical formulas into the chart Change chart layout, chart style, and switch row/column data Change font style only None Hint 5. Dissolution of partnership can occur by: Sale of assets Retirement or death of partner Liquidation of company Transfer of share None Hint 6. 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: ₹ 6 ₹ 10 ₹ 8 ₹ 5 None Hint 7. In case of profit on re-issue of forfeited share, it is transferred to: Securities Premium Reserve Account General Reserve Account Share Capital Account Capital Reserve Account None Hint 8. Calculation of sacrificing ratio: New Ratio – Old Ratio New Ratio × Old Ratio Old Ratio ÷ New Ratio Old Ratio – New Ratio None Hint 9. Choose the correct one-word answer for the following: Which account will be debited on money withdrawn from Bank for personal use? Capital Account Cash Account Drawings Account Bank Account None Hint 10. Which of the following is treated as unrecorded asset? Sale of Investments Bad debts recovered, written off in previous year Sale of old Furniture Goodwill appearing in the Balance Sheet None Hint 11. “Cash from operating activities” will decrease due to : Increase in Current Assets Both (A) and (B) above Increase in Current Assets Decrease in Current Liabilities Increase in Current Liabilities None Hint 12. ‘Dividend received’ by other than financial enterprise is shown in cash flow statement under : General Activities Operating Activities Financing Activities Investing Activities None Hint 13. Which element of a chart provides additional information about a data marker to identify the details of a data point in a data series? The plot area The legend The Data Labels The Data points None Hint 14. Sale of Machinery on credit is recorded in: Journal Proper Sales Book Bank Pass-Book Cash Book None Hint 15. 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: ₹ 1,200 ₹ 900 ₹ 800 ₹ 1,000 None Hint 16. 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 ₹5 ₹6 ₹10 None Hint 17. 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 ₹1,13,000 ₹1,30,000 ₹30,000 ₹1,00,000 None Hint 18. Liabilities of a firm are ₹ 8,000 and total Assets are ₹ 20,000. What is the capital of the proprietor? ₹ 8,000 ₹ 12,000 ₹ 20,000 ₹ 28,000 None Hint 19. Gain of a partner is: Sacrificing Ratio - New Ratio Existing (Old) Ratio - New Ratio New Ratio - Sacrificing Ratio New Ratio - Existing (Old) Ratio None Hint 20. Select the correct option for each: After preparation of the realisation account, gain or loss on realisation is transferred to: Partners' Capital Account Capital Reserve Revaluation Account Profit and Loss Account None Hint 21. If goodwill already appears in the balance sheet at time of retirement: It is transferred to goodwill reserve It is written off by all partners in their old ratio It is shown on asset side It is distributed among remaining partners None Hint 22. Complete the following Sentences : In cash flow statement, the amount of interim dividend paid during the year is shown as _____ Cash outflow from investing activity Cash inflow from operating activity Cash outflow from financing activity Not shown in cash flow statement None Hint 23. Select the correct option for each: At the time of retirement of a partner, Loss on revaluation is debited to the partners' Capital Account in which Ratio? Old Ratio Equal Ratio Sacrificing Ratio New Ratio None Hint 24. Give one word answer (Choose the correct option): That part of share capital which is uncalled and kept in reserve is known as: Authorised Capital Subscribed Capital Issued Capital Reserve Capital None Hint 25. Give one word answer (Choose the correct option): When shares are issued to promoters of the company as remuneration for their services, which account is debited? Promoters' Capital A/c Preliminary Expenses A/c Commission A/c Goodwill A/c None Hint 26. Cash Balance ₹ 15,000, Trade Receivables ₹ 35,000, Inventory ₹ 40,000, Trade payables ₹ 24,000; Bank overdraft is ₹ 6,000. Current Ratio will be : 1 : 3.75 3.75 : 1 1 : 3 3 : 1 None Hint 27. The mostly used input devices are keyboard, ______, and ______ CPU and Monitor Monitor and Scanner Mouse and Scanner Mouse and Printer None Hint 28. Which of the following account is prepared by a Not-For-Profit Organisation? Total Creditors Account Profit and Loss Account Trading Account Income and Expenditure Account None Hint 29. Angel Ltd., a stock broker, purchases 5,000 shares of Tata Housing Ltd., it is a : Operating Activity Financing Activity Investing Activity General Activity None Hint 30. Which of the following sub-unit of central processing unit stores data before being actually processed? Control Unit Output Unit Memory Unit Logic Unit None Hint 31. What are the correct steps to copy a chart from Excel to Word? Select chart → Press Delete → Paste in Word Create chart → Take screenshot → Insert as image Select data → Copy → Paste directly in Word Select chart → Right-click → Copy → Open Word → Paste None Hint 32. Life-Membership-fee' received by Not-For-Profit Organisation is shown Income in 'Income and Expenditure Account' Capital receipt and added in the capital fund of Balance sheet Payment in 'Receipts and Payments Account' Expenditure in 'Income and Expenditure Account' None Hint 33. Sale of Machinery on credit is recorded in: Bank Pass-Book Sales Book Journal Proper Cash Book None Hint 34. Which of the following are common earning elements used in Pay Roll calculations? Basic Pay, House Rent Allowance, Medical Allowance Net Pay, Tax Deduction, Bonus Basic Pay, Provident Fund, Leave Deduction Gross Salary, Overtime, Loan Deduction None Hint 35. None 36. What is meant by cash flow statement ? State two objectives of preparing cash flow statement. A statement showing depreciation and changes in capital only, to determine return on capital employed. A statement showing cash and non-cash transactions to determine fixed asset value. A statement showing inflows and outflows of cash and cash equivalents, used to assess liquidity and financial flexibility. A statement showing profit or loss of the business and aims to calculate net income and tax. None Hint 37. Identify the affected accounts in the journal entries for the following transactions: Salaries paid Wages A/c, Cash A/c Salaries A/c, Bank A/c Capital A/c, Cash A/c Salaries A/c, Cash A/c None Hint 38. Name the type of accounting error for the following transactions: Wages paid for construction of office debited to wages account Compensating Error Error of Principle Error of Commission Error of Omission None Hint 39. Pass necessary Journal Entry when An unrecorded liability has been discharged by the firm Liability A/c Dr. To Revaluation A/c Revaluation A/c Dr. To Liability A/c Revaluation A/c Dr. To Cash/Bank A/c No entry required None Hint 40. Give one word answers (Choose correct option): Net Purchases = Cash Purchases + Credit Purchases – ? Closing Stock Purchase Returns Drawings Sales None Hint 41. Name the type of accounting error for the following transactions: Purchase of furniture entered in Purchases Book Error of Principle Compensating Error Error of Commission Error of Omission None Hint 42. An unrecorded liability has been discharged by the firm. Revaluation A/c Dr. To Partner’s Capital A/c Liability A/c Dr. To Cash A/c Revaluation A/c Dr. To Partner’s Capital A/c Revaluation A/c Dr. To Liability A/c None Hint 43. 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% 22.5% 24% 26.67% None Hint 44. Choose correct options Transactions, when recorded in Journal, are known as: Invoices Vouchers Ledger Posting Journal Entry None Hint 45. 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: ₹ 3 ₹ 1 ₹ 2 Zero None Hint 46. Give one word answers (Choose correct option): In the Income and Expenditure A/c of a Not-For-Profit organisation, 'Accrued Interest' is shown on which side? Expenditure Side Liability Side Asset Side Income Side None Hint 47. What is meant by 'Unearned Income'? An expense paid in advance Salary unpaid Income received in advance but not yet earned Income that will never be received None Hint 48. Buy back of equity shares is shown as cash outflow from which type of activity? Operating Activity Investing Activity Financing Activity Extraordinary Item None Hint 49. Name the type of accounting error for the following transactions: Gurman's account short credited by ₹1,000 and Manisha’s account excess credited by ₹1,000 Error of Omission Compensating Error Error of Principle Error of Commission None Hint 50. State any three limitations of Cash Flow Statement It reflects net worth changes only It includes only accrual transactions and cannot be used for analysis It ignores non-cash items, historical nature, and not suitable for short-term analysis It ignores working capital changes and liquidity issues None Hint 51. Meaning of Sacrificing Ratio (Choose the correct option): The ratio in which old partners sacrifice in favor of new partner Equal ratio among partners The ratio of capital The ratio in which partners gain on retirement None Hint 52. Fill in the blanks: At the time of dissolution of a partnership firm, balance of general reserve is transferred to _______. Partner's Loan Account Revaluation Account Partner’s Capital Accounts Realisation Account None Hint 53. Ideal Current Ratio is : 1:3 2:1 1:2 1:1 None Hint 54. Fill in the blanks At the time of dissolution of a partnership firm, the balance of general reserve is transferred to: Reserve Fund Profit and Loss Account Realisation Account Capital Accounts of all partners None Hint 55. Give meaning of: Issued Capital refers to: Reserve capital Capital issued by government Paid-up capital Total value of shares offered to public for subscription None Hint 56. When realisation expenses are paid by a partner on behalf of the firm, which of the following account is credited ? Expense Account Partner's Capital Account Cash Account Realisation Account None Hint 57. Debt equity ratio indicates risky financial position from the long-term point of view if it exceeds : 3 : 1 1 : 2 1 : 1 2 : 1 None Hint 58. Gain of a partner: New Ratio - Existing (Old) Ratio Sacrificing Ratio - New Ratio Existing (Old) Ratio - New Ratio New Ratio - Sacrificing Ratio None Hint 59. Name the type of accounting error for the following transactions: Goods sold for ₹4,200 to Hari Om on credit were omitted, although cash received Error of Principle Compensating Error Error of Commission Error of Omission None Hint 60. Which of the following is not an error of principle? 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 Account. Sale of an old car credited to Sales Account. Purchase Book is totalled ₹20,000 instead of ₹15,500. None Hint 61. What is the adjustment of existing partner’s capital on the basis of the capital of the new partner? New partner gets more profit than others All partners bring equal capital Capitals of existing partners are adjusted in the ratio of profit sharing based on new partner’s capital Existing partners withdraw their capital None Hint 62. Journal entry when excess capital is withdrawn by a partner: Capital Reserve A/c Dr. To Partner’s Capital A/c Bank A/c Dr. To Partner’s Capital A/c Revaluation A/c Dr. To Bank A/c Partner’s Capital A/c Dr. To Cash/Bank A/c None Hint 63. Identify the affected accounts in the journal entries for the following transactions: Goods purchased on credit Purchases A/c, Bank A/c Debtor A/c, Purchases A/c Purchases A/c, Sales A/c Purchases A/c, Creditor A/c None Hint 64. Fill in the blanks: At the time of death of a partner, his/her executor is entitled to all the rights of a _______ to _______. partner; liabilities creditor; the firm creditor; receive dues shareholder; dividends None Hint 65. Fill in the blanks At the time of death of a partner, his/her executor is entitled to all the rights of a: Manager Debtor Partner Employee None Hint 66. 'Life-Membership-fee' received by Not-For-Profit Organisation is shown as: Capital receipt and added in the capital fund of Balance Sheet Expenditure in 'Income and Expenditure Account' Income in 'Income and Expenditure Account' Payment in 'Receipts and Payments Account' None Hint 67. Calling cells by just their column and row labels is called: Absolute referencing Mixed referencing Both (A) and (B) Relative referencing None Hint 68. In case of profit on re-issue of forfeited share, it is transferred to: Share Capital Account General Reserve Account Securities Premium Reserve Account Capital Reserve Account None Hint 69. Journal Entry for goodwill already appearing in books: All Partners' Capital A/c Dr. To Goodwill A/c Goodwill A/c Dr. To Retiring Partner's Capital A/c Gaining Partners’ Capital A/c Dr. To Goodwill A/c Goodwill A/c Dr. To All Partners' Capital A/c None Hint 70. Give one word answers (Choose correct option): When proprietor draws goods from the business for personal use, it is known as: Capital Drawings Sale Purchase None Hint 71. Choose the correct one-word answer for the following: Which facility is offered to store and process transaction data in a computerised accounting system to retrieve information and generate reports? Data Entry Data Display Data Retrieval Data Storage None Hint 72. When realisation expenses are paid by a partner on behalf of the firm, which of the following account is credited? Expense Account Cash Account Partner’s Capital Account Realisation Account None Hint 73. Which of the following is not a difference between Dissolution of Partnership and Dissolution of Partnership Firm? Only change in agreement or partners All assets are sold Accounts are settled with all partners Business is closed permanently None Hint 74. Identify the affected accounts in the journal entries for the following transactions: Depreciation charged on furniture Depreciation A/c, Asset A/c Expense A/c, Furniture A/c Furniture A/c, Depreciation A/c Depreciation A/c, Furniture A/c None Hint 75. Choose correct options Depreciation reduces the value of: Asset Expense Liability Income None Hint 76. Goodwill already appears in books at retirement of a partner. It should be: Credited to retiring partner Distributed among all partners Ignored Written off in gaining ratio None Hint 77. 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: ₹1,00,000 ₹30,000 ₹1,30,000 ₹1,13,000 None Hint 78. Which of the following sub-unit of central processing unit stores data before being actually processed? Control Unit Output Unit Memory Unit Logic Unit None Hint 79. What is meant by Pro-rata allotment of shares ? State how unpaid amount on allotment and calls money of shares held by the shareholder is calculated in case of pro-rata allotment of shares. Pro-rata allotment is the allotment of bonus shares equally to all shareholders. Pro-rata allotment occurs when applicants get fewer shares than they applied for, and excess application money is refunded. Pro-rata allotment means every applicant is allotted the full number of shares they applied for, and no adjustment is needed for excess money. Pro-rata allotment happens when applicants get fewer shares than applied due to over-subscription; excess application money is adjusted towards allotment and future calls. None Hint 80. 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: ₹ 1,13,000 ₹ 1,30,000 ₹ 30,000 ₹ 1,00,000 None Hint 81. Give meaning of: Authorised Capital refers to: Capital raised through loans Shareholder's contribution Issued capital subscribed by public Maximum capital a company is authorised to issue None Hint 82. Which of the following is not an error of principle? Repairs on the overhauling of second-hand machinery purchased is not recorded in the books of accounts. Sale of an old car credited to Sales Account. Typewriter purchased for office use has been debited to Purchases Accounts. Purchase Book is totalled ₹ 20,000 instead of ₹ 15,500. None Hint 83. Identify the affected accounts in the journal entries for the following transactions: Goods sold for cash Cash A/c, Purchases A/c Cash A/c, Sales A/c Sales A/c, Purchases A/c Debtor A/c, Sales A/c None Hint 84. The Net salary payable to an employee is obtained by deducting ________ from ________. Deductions, Gross Salary Gross Salary, Provident Fund Allowances, Gross Salary Tax, Basic Salary None Hint 85. Give one word answer (Choose the correct option): One purpose for which securities premium reserve amount can be utilised: Pay salary Pay dividend Buyback of inventory Issue bonus shares None Hint 86. Balance of Provision for Doubtful Debts 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 : ₹ 1,200 ₹ 1,000 ₹ 800 ₹ 900 None Hint 87. Journal Entry: All Partners’ Capital A/c Dr. To Goodwill A/c Gaining Partner’s Capital A/c Dr. To Retiring Partner’s Capital A/c Retiring Partner’s Capital A/c Dr. To Goodwill A/c Goodwill A/c Dr. To All Partners’ Capital A/c None Hint 88. Dissolution of firm involves: Change in profit sharing Closing of business and selling of assets Admission of new partner Revaluation of assets only None Hint 89. Give one word answers (Choose correct option): Which account shows surplus or deficit in case of Not-For-Profit organisation? Receipts and Payments Account Income and Expenditure Account Trading Account Profit and Loss Account None Hint 90. If a share of ₹10 each on which ₹8 called up (including premium of ₹2) and ₹7 paid up has been forfeited, the Share Capital Account will be debited by: ₹2 ₹3 ₹8 ₹1 None Hint 91. Which of the following account is prepared by a Not-For-Profit Organisation? Total Creditors Account Income and Expenditure Account Trading Account Profit and Loss Account None Hint 92. As per Rules of Accounting, Increase in Asset is ______ and decrease in Asset is ______ Credit, Credit Credit, Debit Debit, Credit Debit, Debit None Hint 93. When realisation expenses are paid by a partner on behalf of the firm, which of the following account is credited? Cash Account Realisation Account Partner’s Capital Account Expense Account None Hint 94. Which of the following is a valid use of the Securities Premium Account as per the Companies Act? To pay directors' commission To pay dividends to shareholders To write off preliminary expenses To buy office furniture None Hint 95. Which of the following is treated as unrecorded asset? Sale of Investments Goodwill appearing in the Balance Sheet Bad debts recovered, written off in previous year Sale of old Furniture None Hint 96. Give one word answer (Choose the correct option): A share of ₹10 issued at a premium of ₹2 on which the full amount is called up and ₹7 is received. Share Capital Account will be credited by: ₹8 ₹10 ₹7 ₹9 None Hint 97. Liabilities of a firm are ₹8,000 and total Assets are ₹20,000. What is the capital of the proprietor? ₹12,000 ₹28,000 ₹20,000 ₹8,000 None Hint 98. Subscribed Capital refers to: Shares bought by outsiders Shares that the public agrees to buy from the issued capital Allotted shares returned Uncalled capital None Hint 99. Which of the following component of MS Access is used to create various reports as per the requirement of the end user? Table Object Report Object Forms Object Queries None Hint 100. Data Base Management System overcomes the limitations such as: Data redundancy and inconsistency Data duplicity Data isolation All of the above None Hint Time's up Share: admin Previous post Computer Science Nios Plus Two PQ I June 30, 2025 Next post Accountancy Nios Plus Two PQ II June 30, 2025
