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Capital and Revenue Expenditure/ Income — Practice Quiz

ICSE · Class 11 · Accountancy

Try a 4-question quiz on Capital and Revenue Expenditure/ Income for ICSE Class 11 Accountancy: tap an answer to check it and see why.

65 questions32 flashcards5 concepts

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Quick Quiz: Capital and Revenue Expenditure/ Income

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1

A building costing ₹10,00,000 is sold for ₹12,00,000. What is the capital income?

2

A building purchased for ₹50,000 is sold for ₹45,000. What is the capital loss?

3

A trader spends ₹1,00,000 on advertisement to introduce a new product and spreads the benefit over 5 years. What is the annual charge?

4

If heavy advertisement expenditure of ₹1,00,000 is written off equally over 5 years, what amount is charged each year?

65 Questions·
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Sample Questions

1multiple choice
3 marks

A business buys a farm for ₹1,50,000 and also pays annual land revenue of ₹2,000. What is the correct classification for both items?

Show answer

Farm purchase: Capital expenditure; land revenue: Revenue expenditure

Purchase of a farm is acquisition of a fixed asset, so it is capital expenditure. Annual land revenue is a regular business payment, so it is revenue expenditure.

2multiple choice
3 marks

A machine is bought second-hand and ₹5,000 is spent on immediate repairs before use. What is the classification of this repair cost?

Show answer

Capital expenditure

Immediate repairs on a newly purchased second-hand asset to make it fit for use are treated as capital expenditure because they are part of preparing the asset for use.

3multiple choice
3 marks

A building sold for ₹12,00,000 had originally cost ₹10,00,000. What is the capital income and how is it found?

Show answer

₹2,00,000, found by sale price minus cost

Capital income is the profit on sale of a fixed asset. It is calculated as sale price minus cost: ₹12,00,000 − ₹10,00,000 = ₹2,00,000.

4multiple choice
3 marks

A building purchased for ₹50,000 is sold for ₹45,000. What is the capital loss and how is it computed?

Show answer

₹5,000, found by cost minus sale price

Capital loss is the shortfall when a fixed asset is sold below cost. The loss is ₹50,000 − ₹45,000 = ₹5,000.

+61 more questions on Capital and Revenue Expenditure/ Income (ICSE Class 11 Accountancy)

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Frequently Asked Questions

What are the important topics in Capital and Revenue Expenditure/ Income for ICSE Class 11 Accountancy?
Key topics in Capital and Revenue Expenditure/ Income include Core Idea of Capital and Revenue, Capital Expenditure and Revenue Expenditure, Capital Income and Revenue Income, Capital Receipts and Revenue Receipts. Study these first, then practise questions on each for Class 11 exams.
How many practice questions are there for Capital and Revenue Expenditure/ Income?
There are 65 questions on Capital and Revenue Expenditure/ Income. Try the 4-question sample quiz on this page first; each answer shows an explanation when you tap it.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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