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100+ Free Odisha CHSE +2 Vocational Accounting and Auditing Practice Questions

Council of Higher Secondary Education, Odisha — Higher Secondary (+2) Vocational Trade: Accounting and Auditing (Business and Commerce Area) practice questions are available now; exam metadata is being verified.

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2026 Statistics

Key Facts: Odisha CHSE +2 Vocational Accounting and Auditing Exam

200 marks/year

Accounting and Auditing trade total under Part-II scheme (Papers I–II Year 1; Papers III–IV Year 2)

CHSE Odisha Vocational Courses Part II (Part-II.pdf) scheme of studies

40 + 60

Theory and practical marks for each Accounting and Auditing trade paper

CHSE Vocational Courses Part II marks distribution

~2 hours

Duration for a 40-mark trade theory paper in the Part-II duration table

CHSE Vocational Courses Part II examination duration table

~3 hours

Duration for a 60-mark trade practical paper in the Part-II duration table

CHSE Vocational Courses Part II examination duration table

AHSE package

Examination fee is part of CHSE AHSE enrollment/form-fill-up as notified (not a separate open marketplace trade fee)

CHSE Odisha AHSE enrollment/form-fill-up fee notifications

Theory MCQ aid

This free bank is theory-knowledge practice only; practical, viva, and Tally evidence are not replaced

OpenExamPrep adaptation note; CHSE vocational practical scheme

Free 100-question English MCQ study bank for Odisha CHSE +2 Vocational Accounting and Auditing. Official trade is 200 marks/year (Papers I–IV; each Theory 40 + Practical 60; theory ~2 h, practical ~3 h). Fee is part of the AHSE package as notified. Theory-knowledge only—practical/viva/Tally not replaced. Sources: chseodisha.nic.in Part-II.pdf and AHSE fee notifications.

Sample Odisha CHSE +2 Vocational Accounting and Auditing Practice Questions

Try these sample questions to test your Odisha CHSE +2 Vocational Accounting and Auditing exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Accounting is often called the language of business primarily because it:
A.Communicates financial information to users for decision-making
B.Replaces the need for legal contracts
C.Guarantees future profits of every firm
D.Records only cash transactions by law
Explanation: Accounting records, classifies, summarises and communicates financial information so owners, managers, lenders and other users can take decisions—hence the phrase language of business.
2Book-keeping differs from accounting mainly in that book-keeping:
A.Is primarily recording of transactions, while accounting also summarises, analyses and interprets
B.Is only done by government auditors
C.Means preparing the audit report alone
D.Is identical to final accounts preparation
Explanation: Book-keeping is the recording stage; accounting is broader—classification, summarisation, analysis, interpretation and reporting. CHSE Paper I opens with accounting meaning and branches built on book-keeping.
3In the basic accounting equation, which arrangement is correct?
A.Capital = Assets + Liabilities
B.Assets = Capital − Liabilities
C.Assets = Liabilities + Capital
D.Liabilities = Assets + Capital
Explanation: The accounting equation is Assets = Liabilities + Capital (or Assets = Capital + Liabilities). Everything owned is financed by owners’ equity and/or outsiders’ claims.
4Which item is a liability?
A.Cash at bank
B.Trade creditors (accounts payable)
C.Machinery
D.Closing stock of goods
Explanation: Trade creditors are amounts the business owes suppliers—an external claim, hence a liability. Cash, machinery and stock are assets.
5Drawings by the owner of a sole proprietorship:
A.Increase capital
B.Decrease capital
C.Are recorded as a liability to outsiders
D.Are always treated as revenue income
Explanation: Drawings are withdrawals of cash or goods by the owner for personal use; they reduce owner’s capital (equity).
6The dual aspect (duality) concept states that:
A.Every transaction has two aspects that keep the accounting equation in balance
B.Only cash transactions are recorded
C.Assets must always equal drawings
D.Revenue is never recorded until cash is received
Explanation: Under the dual aspect concept, every transaction affects at least two accounts so that Assets = Liabilities + Capital continues to hold (double-entry).
7Which is a capital expenditure?
A.Payment of monthly electricity bill for the office
B.Purchase of a delivery van for business use
C.Payment of wages for factory workers for the week
D.Payment of telephone charges for the month
Explanation: Capital expenditure creates a long-term asset or enduring benefit (e.g., purchase of a van). Routine operating bills and wages are revenue expenditures.
8Deferred revenue expenditure is best described as:
A.A revenue expense whose benefit extends beyond the current year and is written off over periods
B.A permanent fixed asset that is never written off
C.Cash withdrawn by the owner as drawings
D.A liability payable after more than one year only
Explanation: Deferred revenue expenditure (e.g., heavy advertising campaign) is essentially revenue in nature but spread over several years because benefit lasts beyond the current period.
9Users of accounting information who are internal to the business include:
A.Managers and owners making operating decisions
B.Income tax authorities only
C.Trade unions of competitor firms only
D.Customers of unrelated businesses only
Explanation: Internal users (owners, managers) use accounting for planning and control. Tax authorities, lenders and outsiders are external users.
10If a firm has Assets Rs.5,00,000 and Liabilities Rs.1,80,000, Capital is:
A.Rs.6,80,000
B.Rs.3,20,000
C.Rs.1,80,000
D.Rs.5,00,000
Explanation: Capital = Assets − Liabilities = 5,00,000 − 1,80,000 = Rs.3,20,000. From Assets = Liabilities + Capital.

About the Odisha CHSE +2 Vocational Accounting and Auditing Practice Questions

Verified exam format metadata for Council of Higher Secondary Education, Odisha — Higher Secondary (+2) Vocational Trade: Accounting and Auditing (Business and Commerce Area) is pending. The practice questions above remain available while official exam length, timing, passing score, fee, and administrator details are reviewed.