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Download CA CPT Question Paper |
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Re: download ca cpt question paper
As you want here I am giving below CA CPT Question Paper on your demand Part A – Fundamentals Accounting1. On the death of partner his executors are paid the share of deceased partner in the profit of the firm till the date of his death. This amount is recorded in profit and loss____ A/c is recorded in Profit and Loss a) Adjustment b) Appropriation c) Suspense d) Reserve 2. X Ltd makes an issue of 1,00,000 equity shares of Rs. 10 each payable as follows On Application – Rs. 5 On Allotment – Rs. 2.5 On Call – Rs. 2.5 One shareholder, holding 5,000 shares did not pay the call money. His shares were forfeited and out of them 3,000 shares were reissued at Rs. 8 per share as fully paid. The amount of Capital Reserve will be Rs. _ a) 16,500 b) 31,500 c) 22,500 d) None 3. Premium on Redemption of Debentures A/c is ____A/c a) Personal b) Real c) Nominal (Income) d) Nominal (Expense) 4. The capital of a sole trader is affected by_ a) Purchase of raw material b) Commission received c) Cash received from trade receivables d) Purchase of an asset for cash 5. BRS is a part of__ a) Bank Account b) cash Book c) Financial Statements d) None 6. A Bill of Exchange matures on 16th July. Suddenly it was declared as bank strike and the next day is Sunday. Then the due date of bill will be___ a) 15th July b) 17th July c) 18th July d) 16th July 7. Salary payable to an employee Rs. 50,000/-. Which account is to be credited? a) cash A/c b) Salaries A/c c) outstanding Salaries A/c d) None 8. According to the Companies Act, 2013, preference shares are to be redeemed with in a period of____ years. a)20 b) 25 c) 30 d) 35 9. Trial balance is prepared to locate _ a) Clerical errors b) Ommission errors c) Principle errors d) All of the above. 10. If there is no partnership deed, the profits will be shared by the partners _ a) As per capitals ratio b) Equally c) As per seniority d) None of the above 11. Cost of acquisition, which is yet to be allocated is ___ a) Accumulated cost b) Written down value c) Net realizable value d) None 12. For the year ended 31st March 2011, sales amounted to Rs. 20,00,000 (at 20% profit on cost), of which goods sold for Rs. 1,00,000 are lying in the godown of the seller at buyer’s risk. These goods are treated as a part of _ a) Sales b) Inventory c) Sales returns d) None of these 13. All fixed assets are put together and all current assets are put together, under which of the following accounting stages? a) Recording b) Communication c) Analysis d) Interpretation 14. X and Y are partners sharing profits and losses in the ratio of 3:2. They admitted Z for 1/4 th share. The new profit sharing ratio will be __ a) 9:6:5 b) 9:8:5 c) 9:5:6 d) 5:6:9 15. The Suspense A/c facilitates the preparation of__ even if the has not been balanced. a) Trial Balance and Financial Statements b) Ledger and Trial Balance c) Trial Balance and Ledger d) Financial Statements and Trial Balance 16. A decrease in the provision for bad and doubtful debts results in___ a) Increase in Net Profit b) Increase in Equity c) Decrease in Net profit d) Both (a) & (b) 17. Calculate depreciation for the 4th year under sum of years digits method Cost of the asset Rs. 10,00,000 Life Time 5 years Salvage value 10% a) Rs. 60,000 b) Rs. 1,80,000 c) Rs. 2,40,000 d) Rs. 1,20,00 18. Mr. Z purchased goods for Rs. 20,00,00, and sold 4/5 th of goods for Rs. 22,00,000, of which he received Rs. 20,00,000 in cash. His expenses amounted to Rs. 2,50,000 during the year. Mr. Z counted the net profit as Rs. 1,50,000 for that year. Which concept is violated? a) Entity b) Periodicity c) Conservatism d) Accrual 19. As per Section 133 of the Companies Act, 2013, companies cannot use the securities premium for _ a) The premium payable on redemption of debentures b) Bonus shares c) Commission or expenses on issue of securities d) Loss on issue of debentures 20. When the shares are issued to promoters for the services rendered by them ___ A/c will be debited. a) Cash or Bank A/c b) Goodwill A/c c) Preliminary expenses A/c d) None 21. The total of Discount column on the debit side of cash book is transferred to___ a) Credit side of Discount allowed A/c b) Credit side of Discount received A/c c) Debit side of Discount allowed A/c d) Debit side of Discount received A/c 22. When recording of a transaction, substance of that transaction should be considered and not its legal form. This statement is according to__ a) Substance over form b) Disclosure of Accounting Policy c) Both (a) & (b) d) None of the above 23. All of the following are the advantages of accounting standards, except _ a) Accounting standards cannot override the statute b) Accounting standards reduce to a reasonable extent confusing variations in the accounting treatments. c) Accounting standards call for disclosure beyond that required by law d) Accounting standards facilitate comparison of financial statements of companies 24. Bill at sight means the instance at which __ a) No time for payment is mentioned in the bill b) The payment is to be made on demand at any time c) The payment is made after a particular time d) Both (a) & (b) 25. The following are the features of perpetual inventory system except __ a) Inventory control can be achieved under this system b) Inventory cannot be determined without affecting the operations of the business c) This provides information about the cost of goods sold d) This is costlier method than periodic inventory system 26. A sent to B goods of the invoice price of Rs. 2,00,000. 4/5 th of these goods were sold by B for 1, 76,000. Commission is to be paid at 2% upto invoice price and 10% on any surplus price realized. What is the amount of commission? a) Rs. 4,800 b) Rs. 3,640 c) Rs. 2,000 d) Rs. 8,000 27. In the absence of agreement, the partners are entitled to ___ a) Interest on loan b) Interest on capital c) Salary d) Commission 28. As per the Companies Act, 2013 which of the following statements is false in respect of a Small Company? a) Paid up capital is less than Rs. 50,00,000 b) Public company can be a small company c) Turnover is less than Rs. 2,00,00,000 d) Small company is not required to prepare cash flow statement as a part of financial statements. 29. An inexperienced accountant prepared the following trial balance Particulars Debit Credit Provision for bad debts 450 – Bank Overdraft 1600 – Capital – 5200 Drawings 200 – Discount allowed – 800 Opening stock 2950 – Find out the balance of Suspense A/C a) 3,300 Dr. b) 3,300 Cr c) 3,500 Dr. d) 3,500 Cr. 30. In the admission of a partner, the new partner is liable from__ a) After the date of admission b) Before the date of admission c) Before and after the date of admission d)None |
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