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

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Exam Review

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 review concepts for the Odisha CHSE +2 Vocational Accounting and Auditing exam. 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 Exam

Odisha CHSE Higher Secondary Vocational Accounting and Auditing prepares +2 students in Government Vocational Higher Secondary Schools and affiliated institutions for applied bookkeeping and basic audit work under the Council of Higher Secondary Education, Odisha. The Part-II syllabus (Part-II.pdf) organises the trade into four papers spanning accounting fundamentals through trial balance and BRS, introductory auditing and internal control, final accounts with adjustments and bills of exchange plus vouching/verification, and government audit/CAG/social audit with computerised accounting and Tally. Assessment is theory-plus-practical (40+60 per paper; 200 trade marks per year), with Year-2 papers counting toward the AHSE pass certificate pathway for vocational stream candidates. Fees are collected through the AHSE enrollment/form-fill-up package rather than a separate public per-trade marketplace price. This free English MCQ bank builds theory fluency for journal, ledger, trial balance, final accounts, depreciation, bills, vouching, verification, and audit concepts—it is not an official-format simulation and does not replace practical journals, Tally practice, or viva.

Exam sponsor: CHSE Odisha. The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

CHSE Odisha Higher Secondary Vocational Accounting and Auditing is a Business and Commerce Area trade under Vocational Courses Part II (Business and Commerce). Trade subject carries 200 marks per year: Paper I and Paper II in Year 1 (college assessment) and Paper III and Paper IV in Year 2 (Council AHSE contribution), each with Theory 40 marks (~2 hours) and Practical 60 marks (~3 hours). Paper I theory covers accounting meaning/terms/concepts/equation; personal/real/nominal accounts and double-entry journal; subsidiary books and ledger; trial balance, errors, bank reconciliation, and capital vs revenue. Paper II theory covers auditing meaning/objects/auditor duties; types of audit, techniques, programme/notebook/working papers; internal check and internal control; audit of private commercial, government/corporate, and bank organisations. Paper III theory covers final accounts with adjustments, bills of exchange and promissory notes, vouching, and capital/revenue with financial statements. Paper IV theory covers organisation of audit at Central and State level, role of the CAG, social audit and ethics, and computerised accounting/audit with Tally awareness. Official practicals (bills/invoices, subsidiary books, ledger/TB/BRS, audit programme and notes, final accounts, vouchers, verification lists, Tally, audit reports) and viva remain mandatory. This free 100-question bank is an English MCQ study adaptation of theory knowledge only.

Time Limit

About 2 hours per 40-mark trade theory paper; about 3 hours per 60-mark trade practical (confirm AHSE timetable).

Passing Score

Published CHSE 2026 passing marks for vocational trade subjects are 12/40 theory and 18/60 practical (about 30% each component). Confirm the current AHSE / vocational circular for your registration year.

Exam / Certification Fees

Included in the CHSE Odisha AHSE enrollment / form-fill-up fee package as notified for the sitting, plus practical examination fees per paper; exact rupees vary by year (illustrative AHSE 2025 form-fill-up subtotal Rs.520; practical fee often Rs.40 per paper)—see official notifications on chseodisha.nic.in.

Exam sponsor website

Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.

Our practice resources: topics covered

We aim to reflect publicly available exam outlines and topic information in our study resources. Coverage, format, and difficulty may differ from the actual exam, and we cannot guarantee that every detail is accurate or current. Confirm exam requirements, fees, and policies with the official exam sponsor.

Study emphasis ~10%

Accounting Fundamentals & Equation

Meaning, users, terms, concepts/conventions, and the accounting equation.

Study emphasis ~12%

Double Entry, Journal & Account Types

Personal/real/nominal accounts, debit-credit rules, simple and compound journal entries.

Study emphasis ~10%

Subsidiary Books & Ledger

Special journals, cash book variants, petty cash, posting and balancing.

Study emphasis ~12%

Trial Balance, Errors & Bank Reconciliation

TB preparation, error types, BRS, capital vs revenue classification.

Study emphasis ~16%

Final Accounts, Depreciation & Partnership Basics

Trading/P&L/balance sheet with adjustments; depreciation and simple partnership profit ideas.

Study emphasis ~8%

Bills of Exchange

Parties, acceptance, discounting, endorsement, dishonour/noting, trade vs accommodation bills.

Study emphasis ~12%

Auditing Concepts & Types

Audit objects, error vs fraud, auditor duties, audit types, programme and working papers.

Study emphasis ~12%

Internal Control, Vouching & Verification

Internal check/control, vouching steps, verification and valuation of assets/liabilities.

Study emphasis ~8%

Government Audit, CAG & Computerised Accounting

Central/State audit organisation, CAG, social audit/ethics, Tally and computer awareness.

Preparing for the Odisha CHSE +2 Vocational Accounting and Auditing Exam

What You Need to Know

  • Passing score: Published CHSE 2026 passing marks for vocational trade subjects are 12/40 theory and 18/60 practical (about 30% each component). Confirm the current AHSE / vocational circular for your registration year.
  • Assessment: CHSE Odisha Higher Secondary Vocational Accounting and Auditing is a Business and Commerce Area trade under Vocational Courses Part II (Business and Commerce). Trade subject carries 200 marks per year: Paper I and Paper II in Year 1 (college assessment) and Paper III and Paper IV in Year 2 (Council AHSE contribution), each with Theory 40 marks (~2 hours) and Practical 60 marks (~3 hours). Paper I theory covers accounting meaning/terms/concepts/equation; personal/real/nominal accounts and double-entry journal; subsidiary books and ledger; trial balance, errors, bank reconciliation, and capital vs revenue. Paper II theory covers auditing meaning/objects/auditor duties; types of audit, techniques, programme/notebook/working papers; internal check and internal control; audit of private commercial, government/corporate, and bank organisations. Paper III theory covers final accounts with adjustments, bills of exchange and promissory notes, vouching, and capital/revenue with financial statements. Paper IV theory covers organisation of audit at Central and State level, role of the CAG, social audit and ethics, and computerised accounting/audit with Tally awareness. Official practicals (bills/invoices, subsidiary books, ledger/TB/BRS, audit programme and notes, final accounts, vouchers, verification lists, Tally, audit reports) and viva remain mandatory. This free 100-question bank is an English MCQ study adaptation of theory knowledge only.
  • Time limit: About 2 hours per 40-mark trade theory paper; about 3 hours per 60-mark trade practical (confirm AHSE timetable).
  • Exam / certification fees: Included in the CHSE Odisha AHSE enrollment / form-fill-up fee package as notified for the sitting, plus practical examination fees per paper; exact rupees vary by year (illustrative AHSE 2025 form-fill-up subtotal Rs.520; practical fee often Rs.40 per paper)—see official notifications on chseodisha.nic.in. Official sources

Using Our Practice Resources

  • Work through all 100 available questions
  • Review every answer and explanation
  • Track weak areas and revisit them
  • Use our AI tutor for tough concepts

Odisha CHSE +2 Vocational Accounting and Auditing: Suggested Study Strategy

1Memorise the accounting equation (Assets = Liabilities + Capital) and restate it after every transaction type.
2Drill personal/real/nominal debit-credit rules with five example entries each before timed MCQs.
3Practise trial-balance error classification: which errors affect TB and which do not (complete omission, compensating, principle, etc.).
4Build adjustment cards: outstanding, prepaid, accrued, depreciation, bad debts, provisions, interest on capital/drawings, manager commission.
5Work real numbers for SLM depreciation, gross/net profit, and simple partnership profit shares.
6For bills, sequence acceptance → discounting/endorsement → maturity/dishonour/noting with party names (drawer, drawee, payee).
7Link internal check examples to cash, wages, sales, purchases, and stock as listed in Paper II.
8Complete practical journal tasks (subsidiary books, BRS, vouchers, audit notes, Tally)—MCQs do not replace them.
9Read Part-II.pdf Accounting and Auditing units and the current AHSE fee/timetable notices on chseodisha.nic.in before exam week.

Frequently Asked Questions

Is the official CHSE Accounting and Auditing trade exam only multiple choice?

No. Each trade paper combines Theory (40 marks, about 2 hours) and Practical (60 marks, about 3 hours). Official theory is mixed written work; practical journals, audit notes, vouchers, verification lists, Tally exercises, and viva evidence are required. This bank is an English theory-knowledge MCQ study adaptation only—it does not replace practical, viva, project, or occupational-skill assessment.

How many marks is the Accounting and Auditing trade?

Under CHSE Vocational Courses Part II, the trade subject is 200 marks per year: Paper I and Paper II in Year 1, Paper III and Paper IV in Year 2. Each paper is Theory 40 + Practical 60. Confirm the current scheme on chseodisha.nic.in.

What topics are covered in Accounting and Auditing theory?

Paper I: accounting fundamentals, double-entry journal, subsidiary books/ledger, trial balance/errors/BRS, capital vs revenue. Paper II: auditing objects and auditor duties, audit types and techniques, internal check/control, commercial and government/bank audit ideas. Paper III: final accounts with adjustments, bills of exchange, vouching, capital/revenue and financial statements. Paper IV: organisation of audit, CAG role, social audit/ethics, computerised accounting and Tally awareness.

What is the examination fee?

Accounting and Auditing is examined as part of the Higher Secondary Vocational AHSE package. Fees are collected through CHSE enrollment / form fill-up as notified (illustrative AHSE 2025 form-fill-up subtotal Rs.520, with related certificate heads and per-paper practical fees adding further charges). Check the current circular on chseodisha.nic.in rather than unofficial fixed rupee quotes.

What are typical pass floors?

Published CHSE 2026 passing marks for vocational trade subjects are 12/40 theory and 18/60 practical (about 30% each component). Always confirm the circular that applies to your registration year.

Why use MCQs if practicals and Tally matter so much?

MCQs quickly check theory facts on journal rules, trial-balance errors, adjustments, bills, vouching, and audit types. Official success still depends on practical journals, audit notes, Tally skills, and viva—practise those with your school alongside this free theory bank.