[suman]

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Hii sir, I Wants to get the Question Paper of the CA CPT Examination of Fundamental Accounting Will you Please Provide It ?

[prince karak]

As you Asking for the Question Paper of the CA CPT Examination of Fundamental Accounting The Question Paper is as follow


Part A – Fundamentals of Accounting

01. Which of the following is not a fundamental accounting assumption?
(a) Going concern (b) Consistency
(c) Prudence (d) Accrual

02. A change in accounting policy is justified:
(a) To comply with accounting standard
(b) To ensure more appropriate presentation of the financial statements of the enterprise
(c) To comply with law
(d) All of the above

03. Cost of inventory ` 1,00,000; Market Value ` 80,000.
If the inventory is valued at
` 1,00,000, which of the following accounting concepts is violated?
(a) Money measurement (b) Cost
(c) Prudence (d) Periodicity
04. Amount paid to a supplier is:
(a) An event (b) A Transaction
(c) Both (a) and (b) (d) Neither (a) nor (b)

05. Economic life of an enterprise is split into some periodic intervals as per ___ concept:
(a) Money Measurement (b) Matching
(c) Periodicity (d) Accrual

06. According to _________ concept, the same method of accounting is to be followed year
after year:
(a) Going Concern (b) Entry
(c) Cost (d) Consistency

07. Benefits of AS (Accounting Standards) are:
(a) To harmonise accounting policies
(b) To eliminate the non-comparability of financial statements
(c) To improve the reliability of financial statements
(d) All of the above

08. Purpose of an accounting system include all the following except:
(a) Interpret and record the effects of business transaction
(b) Classify the effects of transactions to facilitate the preparation of reports
(c) Summarize and communicate information to decision markers
(d) Dictate the specific types of business enterprise transactions that the
enterprises may engage in

09. Prepaid Insurance account is a ______________ :
(a) Nominal account (b) Real account
(c) Representative Personal Account (d) Artificial Personal account

10. A trader purchased goods for ` 4,000 at a trade discount of 5%. As he paid the
amount immediately, a cash discount of ` 100 was also allowed. In this case,
Purchases A/c is debited by:
(a) ` 4,000 (b) ` 3,800
(c) ` 3,700 (d) ` 3,900

11. Some of the goods purchased for trading are used for the construction of business
premises. The account to be credited is____________ :
(a) Business premises A/c (b) Purchases A/c
(c) Sales A/c (d) None of the above

12. Cash Book is a type of _____________ but treated as a __________ of accounts:
(a) Subsidiary book, principal book (b) Principal book, subsidiary book
(c) Subsidiary book, subsidiary book (d) Principal book, principal book

13. A sales return of ` 2,000 has been wrongly posted to the credit of Purchase Returns
accounts, but has been correctly posted to the customer’s account. The effect on the
trial balance will be:
(a) Debit total increases by ` 4,000 (b) Credit total increases by ` 4,000
(c) Credit total increases by ` 2,000 (d) Debit total increases by ` 2,000

14. While finalizing the current year’s profit, the company realized that there was an
error in the valuation of closing inventory of the previous year. In the previous year,
closing inventory was valued more by ` 50,000. As a result:
(a) Previous year’s profit is overstated and current year’s profit is also overstated
(b) Previous year’s profit is understated and current year’s profit is overstated
(c) Previous year’s profit is understated and current year’s profit is also understated
(d) Previous year’s profit is overstated and current year’s profit is also understated

15. An amount of ` 500 received from a customer has been debited to his account. This error is classified as____________:
(a) Error of principle (b) Error of omission
(c) Error of commission (d) Compensating error

16. Starting with the Debit balance as per Cash Book, cheques deposited but not cleared will be:
(a) Added in B.R.S. (b) Deducted in B.R.S.
(c) Ignored in B.R.S. (d) None of the above

17. A trader has an opening inventory of ` 70,000 on 1.1.2016, which consists of a slowmoving item costing ` 10,000 and was written off by ` 2,000. This item was sold for` 9,000 during the year. Barring the transaction, the gross profit on sales for the year 2016-17 remained at 20%. The sales and purchases during the year amounted to
` 5,09,000 & ` 3,78,000 respectively. Find the value of closing inventory on
31.03.2017:
(a) ` 44,000 (b) ` 38,000
(c) ` 40,000 (d) ` 42,000

18. During a year the sales and purchases of a firm amounted to ` 4,00,000 and
` 4,00,000 respectively. Opening inventory was Nil. Closing inventory at selling price
was ` 1,00,000. Find out the cost of closing inventory using Adjusted Selling Price
Mehtod:

(a) ` 80,000 (b) ` 1,00,000
(c) ` 1,50,000 (d) ` 1,40,000

19. E Ltd. a dealer in second-hand cars has the following five vehicles of different modelsand makes in their inventory at the end of the financial year 2009-10.
Car Cost (`) NRV (`)
Fiat 90,000 95,000
Ambassador 1,15,000 1,55,000
Maruti Esteem 2,75,000 2,65,000
Maruti 800 1,20,000 1,25,000
The value of inventory included in the balance sheet of the company as on March 31,
2010 was :
(a) ` 7,62,500 (b) ` 7,70,000
(c) ` 5,90,000 (d) ` 8,70,000

20. Which of the following expense is not included in the acquisition cost of a plant and equipment?
(a) Cost of site preparation (b) Delivery and handling charges
(c) Installation costs (d) Fire Insurance premium