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Discussed Questions
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Sinjini Gupta upvoted • 2 weeks ago |
(Direction 1 - 40) Write down the correct answers. Each question carries 1 mark.
Q. A theoretical probability distribution.
- a)exists only in theory.
- b)It exist both in real life and theory.
- c)exists in real life.
- d)does not exist
Correct answer is option 'A'. Can you explain this answer?
(Direction 1 - 40) Write down the correct answers. Each question carries 1 mark.
Q. A theoretical probability distribution.
a)
exists only in theory.
b)
It exist both in real life and theory.
c)
exists in real life.
d)
does not exist
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Srsps answered |
A theoretical probability is a probability number computed using an exact formula based on a mathematical theory or model.
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Sinjini Gupta upvoted • 2 weeks ago |
An example of durable goods is- a)Coal
- b)Fan
- c)Milk
- d)Pepsi
Correct answer is option 'B'. Can you explain this answer?
An example of durable goods is
a)
Coal
b)
Fan
c)
Milk
d)
Pepsi
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Shiksha Academy answered |
Durable Goods:
- Durable goods are products that have a long lifespan and are used over an extended period of time.
- These goods are tangible and can withstand repeated use or consumption.
- Examples of durable goods include appliances, furniture, vehicles, electronics, and machinery.
- Durable goods are typically more expensive and are meant to last for several years.<... more
- Durable goods are products that have a long lifespan and are used over an extended period of time.
- These goods are tangible and can withstand repeated use or consumption.
- Examples of durable goods include appliances, furniture, vehicles, electronics, and machinery.
- Durable goods are typically more expensive and are meant to last for several years.<... more
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Sinjini Gupta upvoted • 3 weeks ago |
The number of ways in which 15 mangoes can be equally divided among 3 students is- a)
- b)
- c)
- d)none of these
Correct answer is option 'B'. Can you explain this answer?
The number of ways in which 15 mangoes can be equally divided among 3 students is
a)
b)
c)
d)
none of these
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Sai Kulkarni answered |
To determine the number of ways to divide 15 mangoes equally among 3 students, we can follow these steps:
- The total number of mangoes is 15.
- Since there are 3 students, we need to divide the mangoes by the number of students.
- Each student would receive:
- 15 mangoes ÷ 3 students = 5 mangoes per student.
- Now, we need to consider the different ways to distribute the mangoes.
- Since each student receives the same number of mangoes, the arrangement is straightforward:
- There is only 1 way to equally distribute 15 mangoes among 3 students, as each gets 5.
Conclusion: The number of ways to equally divide 15 mangoes among 3 students is 1.
If MPS is 0.6, what will be ΔS when income increases by Rs 100?- a)Rs 60
- b)Rs 50
- c)Rs 40
- d)Rs 70
Correct answer is option 'A'. Can you explain this answer?
If MPS is 0.6, what will be ΔS when income increases by Rs 100?
a)
Rs 60
b)
Rs 50
c)
Rs 40
d)
Rs 70
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Sinjini Gupta answered • 3 weeks ago |
Understanding MPS
The Marginal Propensity to Save (MPS) indicates the proportion of additional income that a household saves rather than spends. In this case, an MPS of 0.6 means that for every additional rupee earned, 60% will be saved.
Calculation of ΔS
To find the change in savings (ΔS) when income increases by Rs 100, we can use the formula:
ΔS = MPS × ΔIncome... more
The Marginal Propensity to Save (MPS) indicates the proportion of additional income that a household saves rather than spends. In this case, an MPS of 0.6 means that for every additional rupee earned, 60% will be saved.
Calculation of ΔS
To find the change in savings (ΔS) when income increases by Rs 100, we can use the formula:
ΔS = MPS × ΔIncome... more
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Sinjini Gupta upvoted • 3 weeks ago |
An asset was purchased for Rs. 6,60,000. Cash was paid Rs. 1,20,000 and for the balance a bill was drawn for 60 days. What will be the effect on fixed assets?- a)Rs. 1,20,000
- b)Rs. 5,40,000
- c)Rs. 6,60,000
- d)Nil
Correct answer is option 'C'. Can you explain this answer?
An asset was purchased for Rs. 6,60,000. Cash was paid Rs. 1,20,000 and for the balance a bill was drawn for 60 days. What will be the effect on fixed assets?
a)
Rs. 1,20,000
b)
Rs. 5,40,000
c)
Rs. 6,60,000
d)
Nil
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Freedom Institute answered |
The effect on fixed assets when an asset is purchased for Rs. 6,60,000, with Rs. 1,20,000 paid in cash and the balance covered by a bill drawn for 60 days, would be: C: Rs. 6,60,000
Fixed assets should be recorded at the total purchase price, regardless of the payment method used. In this case, the entire cost of the asset, Rs. 6,60,000, should be recorded as an increase in fixed assets. The fact that part of the payment was deferred by drawing a bill does not affect the recorded value of the fixed asset.
Fixed assets should be recorded at the total purchase price, regardless of the payment method used. In this case, the entire cost of the asset, Rs. 6,60,000, should be recorded as an increase in fixed assets. The fact that part of the payment was deferred by drawing a bill does not affect the recorded value of the fixed asset.
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Sinjini Gupta upvoted • 4 weeks ago |
A firm’s average fixed cost is Rs. 40 at 12 units. What will be the average fixed cost at 8 units:
- a)Rs. 60
- b)Rs. 70
- c)Rs. 90
- d)Rs. 80
Correct answer is option 'A'. Can you explain this answer?
A firm’s average fixed cost is Rs. 40 at 12 units. What will be the average fixed cost at 8 units:
a)
Rs. 60
b)
Rs. 70
c)
Rs. 90
d)
Rs. 80
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Srsps answered |
Calculating Average Fixed Cost at 8 units
- Given that the average fixed cost at 12 units is Rs. 40.
- To find the average fixed cost at 8 units, we can use the concept of fixed costs being spread over a larger or smaller number of units produced.
Calculation
- Let's assume the total fixed cost at 12 units is Rs. 480 (40 * 12).
- To find the average fixed cost at 8 units, we divide the total fixed cost by the new number of units.
- Average fixed cost at 8 units = Total fixed cost / Number of units = Rs. 480 / 8 = Rs. 60.
Therefore, the average fixed cost at 8 units is Rs. 60. So, the correct answer is option A: Rs. 60.
- Given that the average fixed cost at 12 units is Rs. 40.
- To find the average fixed cost at 8 units, we can use the concept of fixed costs being spread over a larger or smaller number of units produced.
Calculation
- Let's assume the total fixed cost at 12 units is Rs. 480 (40 * 12).
- To find the average fixed cost at 8 units, we divide the total fixed cost by the new number of units.
- Average fixed cost at 8 units = Total fixed cost / Number of units = Rs. 480 / 8 = Rs. 60.
Therefore, the average fixed cost at 8 units is Rs. 60. So, the correct answer is option A: Rs. 60.
If a variable assumes the values 1,2,3,4,5 with frequencies as 1,2,3,4,5 then what is the AM?
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Sinjini Gupta answered • Jan 17, 2025 |
Understanding the Problem
To find the Arithmetic Mean (AM) of a variable with specified values and their frequencies, we can follow these steps:
Values and Frequencies
- Values: 1, 2, 3, 4, 5
- Frequencies: 1, 2, 3, 4, 5
This means:
- The value 1 occurs 1 time,
- The value 2 occurs 2 times,
- The value 3 occurs 3 times,
- The... more
To find the Arithmetic Mean (AM) of a variable with specified values and their frequencies, we can follow these steps:
Values and Frequencies
- Values: 1, 2, 3, 4, 5
- Frequencies: 1, 2, 3, 4, 5
This means:
- The value 1 occurs 1 time,
- The value 2 occurs 2 times,
- The value 3 occurs 3 times,
- The... more
Goods destroyed by fire should be credited to - a)Purchase account
- b)Sales account
- c)Goods lost by fire account
- d)Cash account
Correct answer is option 'A'. Can you explain this answer?
Goods destroyed by fire should be credited to
a)
Purchase account
b)
Sales account
c)
Goods lost by fire account
d)
Cash account
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Sinjini Gupta answered • Dec 27, 2024 |
Understanding the Treatment of Goods Destroyed by Fire
When goods are destroyed by fire, the accounting treatment involves recognizing the loss and making appropriate adjustments to the accounts. The correct answer to credit these goods is the Purchase Account.
Why Credit the Purchase Account?
- Reflecting Loss of Inventory: When goods are lost due to fire, it s... more
When goods are destroyed by fire, the accounting treatment involves recognizing the loss and making appropriate adjustments to the accounts. The correct answer to credit these goods is the Purchase Account.
Why Credit the Purchase Account?
- Reflecting Loss of Inventory: When goods are lost due to fire, it s... more
The present value of annuity of rupees 5000 per annum for 12 years at 4% p.a. CI annually is?
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Sinjini Gupta answered • Dec 12, 2024 |
Understanding Present Value of Annuity
To calculate the present value of an annuity, we use the formula that incorporates the interest rate and the duration of the annuity.
Key Components
- Annuity Payment (PMT): 5000 rupees per annum
- Number of Years (n): 12 years
- Interest Rate (r): 4% per annum compounded annually
Present Va... more
The formula for the present value (PV) of an annuity is:
PV = PMT × [(1 - (1 + r)^-n) / r]
Where:
- PMT = Payment per period
- r = Interest rate per period (as a decimal)
- n = Number of periods
Calculation Steps
1. Convert Interest Rate:
- r = 4% = 0.04
2. Substitute Values:
- PV = 5000 × [(1 - (1 + 0.04)^-12) / 0.04]
3. Calculate:
- (1 + 0.04)^-12 = (1.04)^-12 ≈ 0.636
- PV = 5000 × [(1 - 0.636) / 0.04]
- PV = 5000 × [0.364 / 0.04]
- PV = 5000 × 9.1
- PV ≈ 45500 rupees
Final Result
The present value of an annuity of 5000 rupees per annum for 12 years at 4% per annum compounded annually is approximately 45500 rupees.
This calculation helps in understanding the worth of future cash flows in today's terms.
To calculate the present value of an annuity, we use the formula that incorporates the interest rate and the duration of the annuity.
Key Components
- Annuity Payment (PMT): 5000 rupees per annum
- Number of Years (n): 12 years
- Interest Rate (r): 4% per annum compounded annually
Present Va... more
The formula for the present value (PV) of an annuity is:
PV = PMT × [(1 - (1 + r)^-n) / r]
Where:
- PMT = Payment per period
- r = Interest rate per period (as a decimal)
- n = Number of periods
Calculation Steps
1. Convert Interest Rate:
- r = 4% = 0.04
2. Substitute Values:
- PV = 5000 × [(1 - (1 + 0.04)^-12) / 0.04]
3. Calculate:
- (1 + 0.04)^-12 = (1.04)^-12 ≈ 0.636
- PV = 5000 × [(1 - 0.636) / 0.04]
- PV = 5000 × [0.364 / 0.04]
- PV = 5000 × 9.1
- PV ≈ 45500 rupees
Final Result
The present value of an annuity of 5000 rupees per annum for 12 years at 4% per annum compounded annually is approximately 45500 rupees.
This calculation helps in understanding the worth of future cash flows in today's terms.
The profits for the last three years are 2002-03 Rs. 42,500; 2003-04 Profits Rs. 56,000 & 2004-05 Profits Rs. 68,000. The total assets of the firm are Rs. 11,52,500 and the total liabilities of the firm are Rs. 10,00,000 of which outsiders liabilities is Rs. 5,00,000. The rate of interest expected from capital invested is 10%. Calculate the value of goodwill on capitalization basis. - a)Rs. 97,000
- b)Rs. 97,250
- c)Rs. 97,500
- d)Rs. 97,750
Correct answer is option 'C'. Can you explain this answer?
The profits for the last three years are 2002-03 Rs. 42,500; 2003-04 Profits Rs. 56,000 & 2004-05 Profits Rs. 68,000. The total assets of the firm are Rs. 11,52,500 and the total liabilities of the firm are Rs. 10,00,000 of which outsiders liabilities is Rs. 5,00,000. The rate of interest expected from capital invested is 10%. Calculate the value of goodwill on capitalization basis.
a)
Rs. 97,000
b)
Rs. 97,250
c)
Rs. 97,500
d)
Rs. 97,750
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Sinjini Gupta answered • Nov 29, 2024 |
Understanding Goodwill Calculation
To calculate goodwill on a capitalization basis, we need to follow a systematic approach:
1. Calculate Average Profit
- Profits for the years are as follows:
- 2002-03: Rs. 42,500
- 2003-04: Rs. 56,000
- 2004-05: Rs. 68,000
- Average Profit = (42,500 + 56,000 + 68,000) / 3
- Average Profit = Rs. 55,166.67 ... more
To calculate goodwill on a capitalization basis, we need to follow a systematic approach:
1. Calculate Average Profit
- Profits for the years are as follows:
- 2002-03: Rs. 42,500
- 2003-04: Rs. 56,000
- 2004-05: Rs. 68,000
- Average Profit = (42,500 + 56,000 + 68,000) / 3
- Average Profit = Rs. 55,166.67 ... more
X who was closing his books on 31.03.2006 failed to take the actual stock which he did on 9th April, when it was ascertained by him to be worth Rs 25,000.It was found that sales are entered in the Sales Day Book on the same day of despatch and the returns inward in the returns book as and when the goods are received back. Purchases are entered in the Purchase Day Book once the invoices are received. Observations -i. Sales between 31st March and 9th April as per Sales Book are Rs 1,720. Rate of gross profit is 33 1/3 % on cost.ii. Purchases during the same period as per Purchases Book are Rs 120.iii. Out of above purchases, goods amounting to Rs 50 were not received until after the stock was taken.iv. Goods invoiced during the month of March, but goods received only on 4th April, amounted to Rs 100.You want to find the value of physical stock on 31st March. You start with the value of stock on 9th April. Q.How would you adjust the observation # 2?... more
X who was closing his books on 31.03.2006 failed to take the actual stock which he did on 9th April, when it was ascertained by him to be worth Rs 25,000.
It was found that sales are entered in the Sales Day Book on the same day of despatch and the returns inward in the returns book as and when the goods are received back. Purchases are entered in the Purchase Day Book once the invoices are received. Observations -
i. Sales between 31st March and 9th April as per Sales Book are Rs 1,720. Rate of gross profit is 33 1/3 % on cost.
ii. Purchases during the same period as per Purchases Book are Rs 120.
iii. Out of above purchases, goods amounting to Rs 50 were not received until after the stock was taken.
iv. Goods invoiced during the month of March, but goods received only on 4th April, amounted to Rs 100.
You want to find the value of physical stock on 31st March. You start with the value of stock on 9th April.
Q.How would you adjust the observation # 2?
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Sinjini Gupta answered • Oct 28, 2024 |
Understanding the Adjustment for Purchases
To determine the value of physical stock on 31st March, we need to adjust for purchases made in the period after the stock was counted on 9th April. Let's break down observation #2.
Observation #2 Details
- Purchases During the Period: Rs 120
- Goods Not Received: Rs 50
Adjustment Explanation
... more
To determine the value of physical stock on 31st March, we need to adjust for purchases made in the period after the stock was counted on 9th April. Let's break down observation #2.
Observation #2 Details
- Purchases During the Period: Rs 120
- Goods Not Received: Rs 50
Adjustment Explanation
... more
Bank fixed deposit journal entries?
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Sinjini Gupta answered • Oct 09, 2024 |
Understanding Bank Fixed Deposit Journal Entries
When a business or individual invests in a fixed deposit with a bank, it involves specific journal entries to accurately reflect transactions in the accounting records. Below is a detailed explanation of the journal entries for a bank fixed deposit.
1. Initial Investment in Fixed Deposit
When the deposit is made:
- ... more
When a business or individual invests in a fixed deposit with a bank, it involves specific journal entries to accurately reflect transactions in the accounting records. Below is a detailed explanation of the journal entries for a bank fixed deposit.
1. Initial Investment in Fixed Deposit
When the deposit is made:
- ... more
The geometric mean of 40,50,x is 10 find the value of x?
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Sinjini Gupta answered • Sep 18, 2024 |
Understanding the Geometric Mean
The geometric mean of a set of numbers is calculated by multiplying all the numbers together and then taking the nth root of the product, where n is the number of values. In this case, we are looking for the geometric mean of the values 40, 50, and x.
Setting Up the Equation
Given that the geometric mean of 40, 50, and x is 10, we can e... more
The geometric mean of a set of numbers is calculated by multiplying all the numbers together and then taking the nth root of the product, where n is the number of values. In this case, we are looking for the geometric mean of the values 40, 50, and x.
Setting Up the Equation
Given that the geometric mean of 40, 50, and x is 10, we can e... more
The probability of throwing more than 4 in a single throw from an ordinary die?
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Sinjini Gupta answered • Aug 31, 2024 |
Understanding the Probability of Throwing More than 4 on a Die
When rolling a standard six-sided die, the outcomes are the numbers 1, 2, 3, 4, 5, and 6. To find the probability of rolling a number greater than 4, we need to follow these steps:
Identifying Favorable Outcomes
- The favorable outcomes for this scenario are:
- 5
- 6
Thus, there are ... more
When rolling a standard six-sided die, the outcomes are the numbers 1, 2, 3, 4, 5, and 6. To find the probability of rolling a number greater than 4, we need to follow these steps:
Identifying Favorable Outcomes
- The favorable outcomes for this scenario are:
- 5
- 6
Thus, there are ... more
Liberalisation and Globalisation are: - a)Regulatory
- b)Complementary
- c)Contradictory
- d)Competitive
Correct answer is option 'B'. Can you explain this answer?
Liberalisation and Globalisation are:
a)
Regulatory
b)
Complementary
c)
Contradictory
d)
Competitive
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Sinjini Gupta answered • Aug 13, 2024 |
Complementary Relationship between Liberalisation and Globalisation:
Liberalisation and Globalisation are two concepts that are often seen as complementary rather than contradictory. Let's delve into the reasons why they are considered to have a complementary relationship:
1. Economic Growth:
- Liberalisation involves reducing restrictions on trade and investment... more
Liberalisation and Globalisation are two concepts that are often seen as complementary rather than contradictory. Let's delve into the reasons why they are considered to have a complementary relationship:
1. Economic Growth:
- Liberalisation involves reducing restrictions on trade and investment... more
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Sinjini Gupta asked • May 17, 2024 |
An agency is irrecoverable:- a)Where the authority of agency is one coupled with interest
- b)Where the agent has incurred personal liability
- c)Both (a) and (b)
- d)None of the above
Correct answer is option 'C'. Can you explain this answer?
An agency is irrecoverable:
a)
Where the authority of agency is one coupled with interest
b)
Where the agent has incurred personal liability
c)
Both (a) and (b)
d)
None of the above
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Anuj Roy answered |
Understanding Irrecoverable Agency
An agency is considered irrecoverable when certain conditions are met. The correct answer is option 'C', which includes both situations mentioned in options (a) and (b). Here’s a detailed explanation:
1. Authority of Agency Coupled with Interest
- An agency is irrevocable when the agent has an interest in the subject matter of ... more
An agency is considered irrecoverable when certain conditions are met. The correct answer is option 'C', which includes both situations mentioned in options (a) and (b). Here’s a detailed explanation:
1. Authority of Agency Coupled with Interest
- An agency is irrevocable when the agent has an interest in the subject matter of ... more
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Sinjini Gupta asked • Mar 23, 2024 |
In case of Inferior goods like bajra, a fall in its price tends to: - a)Make the demand remain constant
- b)Reduce the demand
- c)Increase the demand
- d)Change the demand in an abnormal way
Correct answer is option 'B'. Can you explain this answer?
In case of Inferior goods like bajra, a fall in its price tends to:
a)
Make the demand remain constant
b)
Reduce the demand
c)
Increase the demand
d)
Change the demand in an abnormal way
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Srsps answered |
A Giffen good is typically an inferior product that does not have easily available substitutes. They are quite rare, to the extent that there is some debate about their actual existence. So fall in the price of such good like Bajra will also reduce its demand as income effect dominates the substitution effect.
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Sinjini Gupta asked • Nov 17, 2023 |
Which of the following is not a part of the Income Statement for a non-manufacturing concern?- a)Trading account
- b)Profit and Loss account
- c)Balance Sheet
- d)None of the above
Correct answer is option 'C'. Can you explain this answer?
a)
Trading account
b)
Profit and Loss account
c)
Balance Sheet
d)
None of the above
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Niharika Datta answered |
Understanding the Income Statement Components
The Income Statement reflects a company's financial performance over a specific period. For non-manufacturing concerns, this statement primarily includes the Profit and Loss account, but not the Trading account or Balance Sheet.
Key Components of the Income Statement
- Trading Account:
- Typically used by manu... more
The Income Statement reflects a company's financial performance over a specific period. For non-manufacturing concerns, this statement primarily includes the Profit and Loss account, but not the Trading account or Balance Sheet.
Key Components of the Income Statement
- Trading Account:
- Typically used by manu... more
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Sinjini Gupta asked • Oct 09, 2023 |
Which of the following is not the right of a partner i.e., which he cannot claim as a matter of right?- a)Right to take part in business.
- b)Right to have access to account books.
- c)Right to share profits.
- d)Right to receive remuneration.
Correct answer is option 'D'. Can you explain this answer?
Which of the following is not the right of a partner i.e., which he cannot claim as a matter of right?
a)
Right to take part in business.
b)
Right to have access to account books.
c)
Right to share profits.
d)
Right to receive remuneration.
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Srsps answered |
Right of a partner that cannot be claimed as a matter of right:
- Right to receive remuneration.
- A partner does not have an inherent right to receive remuneration for their participation in the partnership. The distribution of profits and the determination of partner salaries or wages are usually agreed upon in the partnership agreement or based on the partner's capit... more
- Right to receive remuneration.
- A partner does not have an inherent right to receive remuneration for their participation in the partnership. The distribution of profits and the determination of partner salaries or wages are usually agreed upon in the partnership agreement or based on the partner's capit... more
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Sinjini Gupta asked • Aug 01, 2023 |
Is the CA Foundation Exam admit card available in both online and offline mode?
|
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Meera Joshi answered |
Yes, the CA Foundation Exam admit card is available in both online and offline mode.
Online Mode:
- The Institute of Chartered Accountants of India (ICAI) provides the facility to download the CA Foundation Exam admit card online.
- Candidates can visit the official website of ICAI and login to their account using their registration number and password.
- A... more
Online Mode:
- The Institute of Chartered Accountants of India (ICAI) provides the facility to download the CA Foundation Exam admit card online.
- Candidates can visit the official website of ICAI and login to their account using their registration number and password.
- A... more
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Sinjini Gupta asked • Jul 31, 2023 |
Can I apply for the CA Foundation Exam if I have completed my graduation but not from a recognized university?
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Charvi Roy answered |
Overview
The CA Foundation Exam is a professional examination conducted by the Institute of Chartered Accountants of India (ICAI). It is the entry-level examination for individuals who wish to pursue a career in chartered accountancy. To be eligible for the CA Foundation Exam, candidates must meet certain criteria set by the ICAI.
Eligibility Criteria for CA Foundatio... more
The CA Foundation Exam is a professional examination conducted by the Institute of Chartered Accountants of India (ICAI). It is the entry-level examination for individuals who wish to pursue a career in chartered accountancy. To be eligible for the CA Foundation Exam, candidates must meet certain criteria set by the ICAI.
Eligibility Criteria for CA Foundatio... more
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Sinjini Gupta asked • Aug 28, 2021 |
Which of the following tribes of Uttarakhand is mainly involved in the sheep rearing?- a) Bhotia
- b) Raji
- c) Tharu
- d) Boksha
Correct answer is option 'A'. Can you explain this answer?
Which of the following tribes of Uttarakhand is mainly involved in the sheep rearing?
a)
Bhotia
b)
Raji
c)
Tharu
d)
Boksha
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Freedom Institute answered |
Bhotia tribe of uttarakhand is mainly involved in the sheep rearing.
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