CA CPT  >  CA - CPT ICAI Model Test Paper - 5 Download as PDF

CA - CPT ICAI Model Test Paper - 5


Test Description

200 Questions MCQ Test | CA - CPT ICAI Model Test Paper - 5

CA - CPT ICAI Model Test Paper - 5 for CA CPT 2022 is part of CA CPT preparation. The CA - CPT ICAI Model Test Paper - 5 questions and answers have been prepared according to the CA CPT exam syllabus.The CA - CPT ICAI Model Test Paper - 5 MCQs are made for CA CPT 2022 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for CA - CPT ICAI Model Test Paper - 5 below.
Solutions of CA - CPT ICAI Model Test Paper - 5 questions in English are available as part of our course for CA CPT & CA - CPT ICAI Model Test Paper - 5 solutions in Hindi for CA CPT course. Download more important topics, notes, lectures and mock test series for CA CPT Exam by signing up for free. Attempt CA - CPT ICAI Model Test Paper - 5 | 200 questions in 240 minutes | Mock test for CA CPT preparation | Free important questions MCQ to study for CA CPT Exam | Download free PDF with solutions
1 Crore+ students have signed up on EduRev. Have you?
CA - CPT ICAI Model Test Paper - 5 - Question 1

Drawings account is in the nature of

CA - CPT ICAI Model Test Paper - 5 - Question 2

Income tax paid by the sole-proprietor from business bank account is debited to

CA - CPT ICAI Model Test Paper - 5 - Question 3

Following is the example of internal users of financial statements:

CA - CPT ICAI Model Test Paper - 5 - Question 4

Recording of a transaction in a journal is called

CA - CPT ICAI Model Test Paper - 5 - Question 5

Narrations are given at the end of

CA - CPT ICAI Model Test Paper - 5 - Question 6

The concerned account debited in the journal should be

CA - CPT ICAI Model Test Paper - 5 - Question 7

The basic consideration(s) in distinction between capital and revenue expenditures is/are

CA - CPT ICAI Model Test Paper - 5 - Question 8

Unintentional omission or commission of amounts and accounts in the process of recording transactions are known as

CA - CPT ICAI Model Test Paper - 5 - Question 9

“Treating a revenue expense as a capital expenditure” is an example of

CA - CPT ICAI Model Test Paper - 5 - Question 10

Under bank reconciliation statement, while adjusting the cash book

CA - CPT ICAI Model Test Paper - 5 - Question 11

In ledger, there are _______ columns

CA - CPT ICAI Model Test Paper - 5 - Question 12

In journal, transactions are recorded on __________.

CA - CPT ICAI Model Test Paper - 5 - Question 13

If an effect of an error is cancelled by the effect of some other error, it is commonly known as ___________

CA - CPT ICAI Model Test Paper - 5 - Question 14

When opening inventory is overstated, net income for the accounting period will be ___.

CA - CPT ICAI Model Test Paper - 5 - Question 15

Inventories should be generally valued at lower of cost or ________

CA - CPT ICAI Model Test Paper - 5 - Question 16

Joint venture account is a ________

CA - CPT ICAI Model Test Paper - 5 - Question 17

At the time of admission of a new partner, if the value of goodwill is shown in the books, it is written back by ________

CA - CPT ICAI Model Test Paper - 5 - Question 18

Commission provided by the consignor to the consignee to promote credit sale is known as _____________

CA - CPT ICAI Model Test Paper - 5 - Question 19

_________ is unavoidable and should be spread over the entire consignment while valuing consignment inventory.

CA - CPT ICAI Model Test Paper - 5 - Question 20

Generally, when the size of the venture is ________, the co-venturers keep separate set of books of account for the joint venture.

CA - CPT ICAI Model Test Paper - 5 - Question 21

Mohit, the acceptor of the bill has to honour a bill on 31st March 2010. Due to financial crisis, he is unable to pay the amount of bill of Rs. 20,000. Therefore, he approaches Rohit on 20th March 2010 for extension of bill for further 3 months. Rohit agrees to extend the credit period by drawing a new bill for Rs. 20,500 together with interest of Rs. 1,000 in cash. In this case, old bill of Rs. 20,000 will be considered as

CA - CPT ICAI Model Test Paper - 5 - Question 22

Sujal consigned goods costing Rs. 2,50,000 to Mridul on 1st January 2010 by incurring Rs. 20,000 on freight. Some goods were lost in transit. For remaining goods Mridul spend Rs. 15,000 to take the delivery including storage charges. During the quarter, Mridul sold 3/4 of the goods received by him for Rs. 3,00,000 and charged commission @10% on it to Sujal. At the end of the quarter, Sujal asked the details of goods lost, sold, expenses commission and balance due to him alongwith the consignment inventory from Mridul. As desired, Mridul sent the periodical detail statement commonly known as

CA - CPT ICAI Model Test Paper - 5 - Question 23

The following information pertains to X Ltd.

 

Q. The amount of dividend payable = ?

CA - CPT ICAI Model Test Paper - 5 - Question 24

E Ltd. had allotted 10,000 shares to the applicants of 14,000 shares on pro rata basis. The amount payable on application is Rs.2. F applied for 420 shares. The number of shares allotted and the amount carried forward for adjustment against allotment money due from F

CA - CPT ICAI Model Test Paper - 5 - Question 25

X of Kolkata sent out 2,000 boxes costing 100 each with the instruction that sales are to be made at cost + 45%.  X draws a bill on Y for an amount equivalent to 60% of sales value. The amount of bill will be

CA - CPT ICAI Model Test Paper - 5 - Question 26

A purchase of Rs. 1,870 by cheques has been wrongly posted in the cashbook as Rs. 1,780. This has the effect of

CA - CPT ICAI Model Test Paper - 5 - Question 27

M/s Delhi Statio ners purchase 1,000 pcs of cover file @ Rs. 275 per 100 pcs. The wholesaler charged 5% sales tax on cost price. Transport charges were Rs. 50. The purchase price per piece of cover file will be

CA - CPT ICAI Model Test Paper - 5 - Question 28

A consignee sold goods costing Rs. 50,000 at a profit of Rs. 10,000.  Out of total sales, 30% was credit sale. As per the agreement the consignee will get 5% ordinary commission, 2% del-credere commission on credit sale and 3% over-riding commission on amount in excess of cost price.The amount of commission will be

CA - CPT ICAI Model Test Paper - 5 - Question 29

In a Joint venture between A and B, A, on purchase of goods, spend Rs.2,000 on freight, Rs.1,000 as godown rent, and also raised a loan from bank of Rs.50,000 at 18% p.a. repayable after 1 month. B spend Rs. 5,000 as selling expenses and he also raised a loan from bank of Rs.1,50,000 at 18% repayable after 2 months. The total expenses of Joint venture other than purchases will be

CA - CPT ICAI Model Test Paper - 5 - Question 30

The bill of Rs. 10,000 accepted by Ritesh on 1 July 2009, was discounted by Hitesh on 15 July 2009 for Rs. 9,600. On 4th October 2009, the bill was dishonoured and bank notified it for Rs. 200.  The amount to be received from Ritesh would be

CA - CPT ICAI Model Test Paper - 5 - Question 31

Y Ltd. sends out its goods Rs. 1,20,000 to one of its dealer on Sale or Return basis. On 31st March he received an approval letter for goods of Rs. 80,000. Y Ltd. charge 25% profit on cost. The cost price of the unapproved goods with the dealer will be

CA - CPT ICAI Model Test Paper - 5 - Question 32

A, B and C are in partnership with no partnership deed. A brought Rs.80,000, B Rs.60,000 and C Rs.40,000 as capital. A does not take part in day to day activities, B acts as general manger and C acts as a sales manager. The profit during the year was Rs. 1,50,000. The share of each partner in profit will respectively be

CA - CPT ICAI Model Test Paper - 5 - Question 33

A second hand car is purchased for Rs. 2,00,000, the amount of Rs. 25,000 is spent on its repairs, Rs. 5,000 is incurred to get the car registered in owner’s name and Rs. 2,000 is paid as dealer’s commission.  The amount debited to car account will be

CA - CPT ICAI Model Test Paper - 5 - Question 34

Atul, Vipul and Prafful are partners in a firm with no partnership agreement. They invested Rs.1,00,000, Rs.75,000 and Rs.50,000 as capital in the firm. The profit for the year was Rs.2,50,000. Prafful demands interest on loan of Rs.20,000 advanced by him at the market rate of interest which is 12% p.a. The amount of interest to be received by him will be

CA - CPT ICAI Model Test Paper - 5 - Question 35

In a joint venture between Ansh and Vansh, Ansh purchased goods costing Rs.2,40,000.Vansh sold goods costing Rs 1,60,000 at Rs 2,40,000. Balance goods were taken over by Ansh at same gross profit percentage as in case of sale. The amount of goods taken over will be:

CA - CPT ICAI Model Test Paper - 5 - Question 36

Brave Ltd. issued 60,000 shares of Rs. 9 each at par. The application money was Rs. 2, allotment money was Rs. 4, and first call was of Re.1. The amount of final call will be

CA - CPT ICAI Model Test Paper - 5 - Question 37

A partnership firm maintains its accounts on calendar year basis. B, one of its partner died on 31st March 2010. The profit for the year 2009 was Rs. 75,000, which was distributed among all the three partners equally. The share of profit of B for the year 2010 on the basis of the year 2009 will be

CA - CPT ICAI Model Test Paper - 5 - Question 38

Asha Ltd. issued shares of Rs. 100 each at a premium of 25%. Mamta, who has 2,000 shares of Asha Ltd., failed to pay first and final call of Rs.5. Premium was taken by Asha Ltd. at the time of allotment. On forfeiture of Mamta’s shares, the amount to be debited to securities premium account will be

CA - CPT ICAI Model Test Paper - 5 - Question 39

As per Section 37 of the Indian Partnership Act, 1932, the executors would be entitled at their choice to the interest calculated from the date of death of a partner till the date of payment on the final amount due to the dead partner at ________ percent per annum.

CA - CPT ICAI Model Test Paper - 5 - Question 40

Fena sent out certain goods to Kena of Delhi. 1/10 of the goods were lost in transit. Invoice value of goods lost Rs 25,000. Invoice value of goods sent out on consignment will be:

CA - CPT ICAI Model Test Paper - 5 - Question 41

Taksh Ltd. purchased land and building from Daksh Ltd. for a book value of Rs.5,00,000.The consideration was paid by issue of 10% Debentures of Rs.100 each at a discount of 20%. The debentures account will be credited with

CA - CPT ICAI Model Test Paper - 5 - Question 42

Jadu Ltd. reissued 2,000 shares, which were forfeited by crediting Share forfeiture account by Rs.3,000. These shares were reissued Rs. 9 per share. The amount to be transferred to Capital Reserve account will be

CA - CPT ICAI Model Test Paper - 5 - Question 43

A machine purchased on 1st April 2010 for Rs. 10,000 is showing a balance of Rs. 6,000 as on 1st April 2012 when depreciation is charged on S.L.M. basis. Now, company wants to switch over to W.D.V method by charging depreciation @ 20%. The amount of excess/ short depreciation of last two years will be

CA - CPT ICAI Model Test Paper - 5 - Question 44

Trade receivables of M/s Santosh amounts to Rs. 25,000 and bad debts Rs.3,000. M/s Santosh provides for Doubtful debts @ 2% and for discount @ 1%. The amount of net trade receivables to be shown in the Balance Sheet will be

CA - CPT ICAI Model Test Paper - 5 - Question 45

A, B and C share profits and losses in the ratio of 4:4:2. They have a joint life insurance policy of Rs.1,00,000, whose premium is paid by the firm. Surrender value of the policy at the beginning of the year 2010 in the balance sheet is Rs. 80,000. On the death of A on 2nd January 2010, the amount to be credited in C’s account will be

CA - CPT ICAI Model Test Paper - 5 - Question 46

X, Y and Z are equal partners in a firm. At the time of division of profit for the year there was dispute between the partners. Profits before salary of partners’ capital was Rs. 60,000 and Y claimed salary for his extra services to the firm @ 2,000 p.m. There was no agreement on this point. Calculate the amount payable to X, Y and Z respectively.

CA - CPT ICAI Model Test Paper - 5 - Question 47

Deepak consigned 100 sets of TVs to Sudeep @ Rs.10,000 each. 5 TVs were damaged in transit due to unavoidable reason whose price was adjusted in the remaining TVs. The new price of each TV will be

CA - CPT ICAI Model Test Paper - 5 - Question 48

A draws a bill on B for Rs 30,000 for mutual accommodation. A discounted that bill for Rs.28,000 from bank and remitted Rs.14,000 to B. On due date A will send to B

CA - CPT ICAI Model Test Paper - 5 - Question 49

A and B enter into a joint venture for purchase and sale of Type-writer. A purchased Typewriter costing Rs. 1,20,000. Repairing expenses Rs. 10,000, printing expenses Rs 10,000. B sold it at 20% margin on selling price. The sales value will be:

CA - CPT ICAI Model Test Paper - 5 - Question 50

Sure Ltd. issued 5,000, 15% Debentures of Rs.100 each at a premium of Rs.10 each. These debentures were to be redeemed at a premium of Rs.4 each after 5 years. The amount to be credited to the securities premium account will be

CA - CPT ICAI Model Test Paper - 5 - Question 51

Light Ltd. has 10,000 5% preference shares of Rs. 10 each to be redeemed after 5 years. The company forfeited 500 preference shares on which final call of Rs 2 has not been received after due notice, and cancelled these shares on account of redemption. Remaining shares were redeemed out of reserves of the company. The amount to be credited to capital redemption reserve will be

CA - CPT ICAI Model Test Paper - 5 - Question 52

Bajaj Ltd. issued 25,000 equity shares of Rs. 10 each payable at Rs. 2 on application, Rs. 3 on allotment, Rs. 2 on first call and the balance in the final call. Archit, who has 1,000 shares paid full value of shares with allotment money. The amount to be debited to bank account at the time of receipt of first call money will be

CA - CPT ICAI Model Test Paper - 5 - Question 53

Books of Ekta, shows on 1st January 2010 furniture Rs. 20,000. During the year a part of the furniture whose book value on 1st January 2010 is Rs. 1,200 has been exchanged with another furniture by paying additional Rs. 500. Ekta charge depreciation @ 10% p.a. The net amount of the furniture to be shown in the balance sheet will be

CA - CPT ICAI Model Test Paper - 5 - Question 54

In the bank reconciliation statement, when balance as per the cash book is taken as the starting point, then direct deposits from the customer of Rs. 2,500 in the bank will be

CA - CPT ICAI Model Test Paper - 5 - Question 55

The total cost of goods available for sale with a company during the current year is Rs.12,00,000 and total sales during the period is Rs.13,00,000. If the gross profit margin of the company is 33 1/3% on cost, the closing inventory during the current year is

CA - CPT ICAI Model Test Paper - 5 - Question 56

Debit balance as per Cash Book of Topsy Enterprise as on 31.3.2010 is Rs. 1,500. Cheques deposited but not cleared amounts to Rs. 100 and Cheques issued but not presented is of Rs. 150. The bank allowed interest amounting Rs. 50 and collected dividend Rs. 50 on behalf of Topsy Enterprise. After reconciliation, balance as per pass book should be

CA - CPT ICAI Model Test Paper - 5 - Question 57

If a sales return of Rs.1,500 has been wrongly posted to the credit of the purchase returns account, but has been correctly entered in the trade receivable’s account, the total of the

CA - CPT ICAI Model Test Paper - 5 - Question 58

On 31st March 2009, Suraj has to pay to M/s Chandra Rs.7,000 on account of credit purchase from the later. He paid Rs.1,800 on 30th June 2009 after availing a cash discount of 10%. On 30th September 2009, he paid Rs. 2,850 after availing 5% cash discount. On account of final settlement, the amount to be paid by Suraj without any discount will be

CA - CPT ICAI Model Test Paper - 5 - Question 59

The profit of the M/s ABC, a partnership firm before charging managerial commission is Rs. 44,000. The managerial commission is charged @ 10% on profit after charging such commission. The amount of managerial commission will be

CA - CPT ICAI Model Test Paper - 5 - Question 60

A bad debt recovered during the year is  a

CA - CPT ICAI Model Test Paper - 5 - Question 61

The following conditions must exist so that a promise to pay for the past voluntary services is binding:

CA - CPT ICAI Model Test Paper - 5 - Question 62

In case of a firm carrying on the business of banking

CA - CPT ICAI Model Test Paper - 5 - Question 63

Champerty means

CA - CPT ICAI Model Test Paper - 5 - Question 64

A collateral event is an event

CA - CPT ICAI Model Test Paper - 5 - Question 65

A person who has been induced to enter into a contract by misrepresentation has the following remedies:

CA - CPT ICAI Model Test Paper - 5 - Question 66

Damages that constitutes the direct loss suffered by the aggrieved party:

CA - CPT ICAI Model Test Paper - 5 - Question 67

Following conditions are implied in a contract of sale of goods unless the circumstances of the contract show a different intention:

CA - CPT ICAI Model Test Paper - 5 - Question 68

A person to whom money has been paid, or anything delivered by mistake

CA - CPT ICAI Model Test Paper - 5 - Question 69

Which one of the offers is a valid offer?

CA - CPT ICAI Model Test Paper - 5 - Question 70

A promises to paint a picture for B at acertain price. Which of the following is not correct ?

CA - CPT ICAI Model Test Paper - 5 - Question 71

An agreement of partnership may be

CA - CPT ICAI Model Test Paper - 5 - Question 72

Dissolution of a firm may take place

CA - CPT ICAI Model Test Paper - 5 - Question 73

In case of a sale the buyer

CA - CPT ICAI Model Test Paper - 5 - Question 74

The following persons can enter into contracts as per the provisions of the Indian Contract Act, 1872:

CA - CPT ICAI Model Test Paper - 5 - Question 75

Which of the following is correct?

CA - CPT ICAI Model Test Paper - 5 - Question 76

Remedies available for breach of contract are:

CA - CPT ICAI Model Test Paper - 5 - Question 77

Cases in which the doctrine of supervening impossibility will not apply:

CA - CPT ICAI Model Test Paper - 5 - Question 78

Reciprocal promises means :

CA - CPT ICAI Model Test Paper - 5 - Question 79

A sale implies an agreement

CA - CPT ICAI Model Test Paper - 5 - Question 80

If the terms of a contract are expressly agreed upon (whether by words spoken or written) at the time of formation of the contract, the contract is said to be an ________.

CA - CPT ICAI Model Test Paper - 5 - Question 81

According to the Indian Contract Act, 1872, Consent is said to be free when it is not caused by ________.

CA - CPT ICAI Model Test Paper - 5 - Question 82

Where both parties to a contract of sale are under a mistake as to a matter of fact, essential to such contract, then the contract is ________.

CA - CPT ICAI Model Test Paper - 5 - Question 83

In India the age of majority is regulated by ________.

CA - CPT ICAI Model Test Paper - 5 - Question 84

Agreement entered into by a minor is ________.

CA - CPT ICAI Model Test Paper - 5 - Question 85

The Sale of Goods Act, 1930 deals with

CA - CPT ICAI Model Test Paper - 5 - Question 86

If the offeree offers to qualified acceptance of the offer subject to modifications and variations in the terms of original offer, he is said to have made a________.

CA - CPT ICAI Model Test Paper - 5 - Question 87

Sale is an_______.

CA - CPT ICAI Model Test Paper - 5 - Question 88

Interest on advances by a partner to his firm may be payable _______.

CA - CPT ICAI Model Test Paper - 5 - Question 89

The law dealing with the partnerships is contained in ________.

CA - CPT ICAI Model Test Paper - 5 - Question 90

Conditions and warranties ________.

CA - CPT ICAI Model Test Paper - 5 - Question 91

‘Seller’ means a person who________.

CA - CPT ICAI Model Test Paper - 5 - Question 92

Delivery of a thing in token of a transfer of something else is known as________.

CA - CPT ICAI Model Test Paper - 5 - Question 93

A is not a minor. A agrees to B for Rs.1,00,000/- that A will never marry. Promise of A is _______.

CA - CPT ICAI Model Test Paper - 5 - Question 94

The rule of caveat emptor does not apply in the case of_______.

CA - CPT ICAI Model Test Paper - 5 - Question 95

________ is/are the exception(s) to the general rule, no consideration no contract.

CA - CPT ICAI Model Test Paper - 5 - Question 96

An offer should be distinguished from________ .

CA - CPT ICAI Model Test Paper - 5 - Question 97

________ is/are the ‘document of title to goods’

CA - CPT ICAI Model Test Paper - 5 - Question 98

A agrees to pay B Rs.500/- if a particular ship does not return to the port. The ship was sunk.The contract ________.

CA - CPT ICAI Model Test Paper - 5 - Question 99

D believes blue colour to be black colour, for any reason whatsoever. He has a garment shop.He sells one blue colour shirt to M, representing it to be black colour. M knows nothing about colours. M believes D and accepts the blue colour to be black colour. Later on M’s mother explains M that the colour of the shirt is actually blue and not black. It is a clear case of

CA - CPT ICAI Model Test Paper - 5 - Question 100

A & B are the only two partners in a firm. B was murdered by C, who wanted to become a partner of the firm, but B has raised objections to it. A now wants to take D as a partner in the said firm. D is father of C. In light of the situation answer, which of the following is correct?

CA - CPT ICAI Model Test Paper - 5 - Question 101

In a typical demand schedule, quantity demanded:

CA - CPT ICAI Model Test Paper - 5 - Question 102

When the perfectly competitive firm and industry are in long run equilibrium then:

CA - CPT ICAI Model Test Paper - 5 - Question 103

In monopoly, the relationship between average and marginal revenue curves is as follows:

CA - CPT ICAI Model Test Paper - 5 - Question 104

All of the following are U shaped curves except the:

CA - CPT ICAI Model Test Paper - 5 - Question 105

From the national point of view which of the following indicates micro approach?

CA - CPT ICAI Model Test Paper - 5 - Question 106

The total effect of a price change of a commodity is

CA - CPT ICAI Model Test Paper - 5 - Question 107

Which of the following is not a part of Fiscal policy?

CA - CPT ICAI Model Test Paper - 5 - Question 108

The following are some of the costs of a clothing manufacturer. State which among them will you consider as fixed cost?

CA - CPT ICAI Model Test Paper - 5 - Question 109

The difference between GNP and NNP equals:

CA - CPT ICAI Model Test Paper - 5 - Question 110

National income at market prices, plus subsidies, but less indirect taxes is equal to which one of the following?

CA - CPT ICAI Model Test Paper - 5 - Question 111

All but one of the following statements are incorrect. Find the correct statement.

CA - CPT ICAI Model Test Paper - 5 - Question 112

In which state is the sex ratio most favourable to women?

CA - CPT ICAI Model Test Paper - 5 - Question 113

An underdeveloped economy is generally characterized by a:

CA - CPT ICAI Model Test Paper - 5 - Question 114

Which institution is known as the “soft loan window” of World Bank?

CA - CPT ICAI Model Test Paper - 5 - Question 115

In order to encourage investment in the country, the RBI may:

CA - CPT ICAI Model Test Paper - 5 - Question 116

A strategy of heavy industry is sometimes preferred for a developing economy because it can :

CA - CPT ICAI Model Test Paper - 5 - Question 117

The branch of economic theory that deals with the problem of allocation of resources is —— ————

CA - CPT ICAI Model Test Paper - 5 - Question 118

Production may be defined as an act of ——————.

CA - CPT ICAI Model Test Paper - 5 - Question 119

The sale of branded articles is common in a situation of ——————.

CA - CPT ICAI Model Test Paper - 5 - Question 120

If GNP is 15% higher than last year’s and the rate of inflation is 7% , production in the economy has grown by ——————.

CA - CPT ICAI Model Test Paper - 5 - Question 121

—————— concept of Budget deficit has become practically redundant in India.

CA - CPT ICAI Model Test Paper - 5 - Question 122

Demand for electricity is elastic because ——————.

CA - CPT ICAI Model Test Paper - 5 - Question 123

The cost that firm incurs in hiring or purchasing any factor of production is referred to as ——————.

CA - CPT ICAI Model Test Paper - 5 - Question 124

The main security guard for International Trade is ——————.

CA - CPT ICAI Model Test Paper - 5 - Question 125

If the price of Pepsi decreases relative to the price of Coke and Thumbs-Up, the demand
for:

CA - CPT ICAI Model Test Paper - 5 - Question 126

—————— is the most liquid measure of money supply.

CA - CPT ICAI Model Test Paper - 5 - Question 127

Population density means ——————.

CA - CPT ICAI Model Test Paper - 5 - Question 128

NABARD is a ——————.

CA - CPT ICAI Model Test Paper - 5 - Question 129

In terms of lending, priority sector constitute about _________ of total bank lending. (March, 2012)

CA - CPT ICAI Model Test Paper - 5 - Question 130

The tele density in India is about —————— in per cent.

CA - CPT ICAI Model Test Paper - 5 - Question 131

According to 2012 data, there are —————— Health centers existing in India.

CA - CPT ICAI Model Test Paper - 5 - Question 132

TRAI stands for——————.

CA - CPT ICAI Model Test Paper - 5 - Question 133

(Direction 133 - 137) On based the demand and supply diagrams in Figure 1.

D1 and S1 are the original demand and supply curves. D2, D3, S2 and S3 are possible new demand and supply curves. Starting from initial equilibrium point (1) what point on the graph is most likely to result from each change?

 

Q. Suppose wage rate of coal miners increases and price of natural gas decreases. (Coal and natural gas are substitutes).What point in Figure 1 is most likely to be the new equilibrium price and quantity?

CA - CPT ICAI Model Test Paper - 5 - Question 134

D1 and S1 are the original demand and supply curves. D2, D3, S2 and S3 are possible new demand and supply curves. Starting from initial equilibrium point (1) what point on the graph is most likely to result from each change?

 

Q. Assume that consumer income has increased. Given that Y is an inferior good, which point in Figure is most likely to be the new equilibrium price and quantity? 

CA - CPT ICAI Model Test Paper - 5 - Question 135

D1 and S1 are the original demand and supply curves. D2, D3, S2 and S3 are possible new demand and supply curves. Starting from initial equilibrium point (1) what point on the graph is most likely to result from each change?

 

Q. Assume that the government has just removed the 10% excise duty on good X. What point in Figure 1 is most likely to be the new equilibrium price and quantity?

CA - CPT ICAI Model Test Paper - 5 - Question 136

D1 and S1 are the original demand and supply curves. D2, D3, S2 and S3 are possible new demand and supply curves. Starting from initial equilibrium point (1) what point on the graph is most likely to result from each change?

 

Q. A government res earch agency has published outcome of studies which say that the consumption of good X could cause cancer. In addition, assume that a powerful lobby has persuaded the government to give subsidy to the manufacturers of good X. What point in Figure is most likely to be the new equilibrium price and quantity?

CA - CPT ICAI Model Test Paper - 5 - Question 137

D1 and S1 are the original demand and supply curves. D2, D3, S2 and S3 are possible new demand and supply curves. Starting from initial equilibrium point (1) what point on the graph is most likely to result from each change?

 

Q. An increase in demand and an increase in supply will: 

CA - CPT ICAI Model Test Paper - 5 - Question 138

(Direction 138 - 142) Use Table 1 to answer questions.

The following table provides cost and price information for an individual firm.  The first two columns represent the demand curve that the firm faces.  The firm has a fixed amount of capital equipment, but can change the level of other inputs such as labour and materials.

 

Q. When production equals 4 units, the firm’s: 

CA - CPT ICAI Model Test Paper - 5 - Question 139

The following table provides cost and price information for an individual firm.  The first two columns represent the demand curve that the firm faces.  The firm has a fixed amount of capital equipment, but can change the level of other inputs such as labour and materials.

 

Q. When production equals 5 units, the firm’s total revenue is: 

CA - CPT ICAI Model Test Paper - 5 - Question 140

The following table provides cost and price information for an individual firm.  The first two columns represent the demand curve that the firm faces.  The firm has a fixed amount of capital equipment, but can change the level of other inputs such as labour and materials.

 

Q. When production equals 6 units, the firm’s marginal revenue is: 

CA - CPT ICAI Model Test Paper - 5 - Question 141

The following table provides cost and price information for an individual firm.  The first two columns represent the demand curve that the firm faces.  The firm has a fixed amount of capital equipment, but can change the level of other inputs such as labour and materials.

 

Q. When production equals 7 units, the firm’s profit is: 

CA - CPT ICAI Model Test Paper - 5 - Question 142

The following table provides cost and price information for an individual firm.  The first two columns represent the demand curve that the firm faces.  The firm has a fixed amount of capital equipment, but can change the level of other inputs such as labour and materials.

 

Q. To maximize its profit, the firm should produce: 

CA - CPT ICAI Model Test Paper - 5 - Question 143

(Direction 143 - 149) Read table 2 and answer Questions.

 

Q. According to the production possibilities curve in Table 2, a combination of 12 Hot Pockets and 11 Eggos: 

CA - CPT ICAI Model Test Paper - 5 - Question 144

 

Q. According to the production possibilities curve in Table 2, a combination of 3 Hot Pockets and 15 Eggos:

CA - CPT ICAI Model Test Paper - 5 - Question 145

 

Q. Referring to Table 2, in moving from point D to point C, the opportunity cost of 1 more Hot Pockets is: 

CA - CPT ICAI Model Test Paper - 5 - Question 146

 

Q. Given the data in Table 2, as one moves successively from point A to points B, C, D, E, and F the opportunity cost of eggos:

CA - CPT ICAI Model Test Paper - 5 - Question 147

 

Q. Given the data in Table 2, as one moves successively from point F to points E, D, C, B, and A,the opportunity cost of Hot Pockets: 

CA - CPT ICAI Model Test Paper - 5 - Question 148

 

Q. Which of the following would not cause an economy’s production possibilities curve to shift to the right?

CA - CPT ICAI Model Test Paper - 5 - Question 149

 

Q. In drawing a production possibilities curve, which of the following is (are) held constant?

CA - CPT ICAI Model Test Paper - 5 - Question 150

The following table provides a breakdown of a country’s population (millions):

CA - CPT ICAI Model Test Paper - 5 - Question 151

Which of the following measures of central tendency is based on only fifty percent of the central values?

CA - CPT ICAI Model Test Paper - 5 - Question 152

The unit of measurement in tabulation is shown in

CA - CPT ICAI Model Test Paper - 5 - Question 153

Most extreme values which would ever be included in a class interval are called

CA - CPT ICAI Model Test Paper - 5 - Question 154

The method applied for deriving the regression equations is known as

CA - CPT ICAI Model Test Paper - 5 - Question 155

A binomial distribution is

CA - CPT ICAI Model Test Paper - 5 - Question 156

If A denotes that a student reads in a school and B denotes that he plays cricket, then

CA - CPT ICAI Model Test Paper - 5 - Question 157

Probability mass function is always

CA - CPT ICAI Model Test Paper - 5 - Question 158

The sampling distribution is

CA - CPT ICAI Model Test Paper - 5 - Question 159

If now the prices of all the commodities in a place have been decreased by 85% over the base period prices, then the index number of prices for the place is now (index number of prices of base period = 100)

CA - CPT ICAI Model Test Paper - 5 - Question 160

The ratio between the speeds of two trains is 7: 8. If the second train runs 400 Kms. in 5 hours, the speed of the first train is

CA - CPT ICAI Model Test Paper - 5 - Question 161

CA - CPT ICAI Model Test Paper - 5 - Question 162

In ______ first payment/receipt takes place at the end of first period.

CA - CPT ICAI Model Test Paper - 5 - Question 163

Difference between the maximum & minimum value of a given data is called______ .

CA - CPT ICAI Model Test Paper - 5 - Question 164

______ is used when distribution pattern has to be studied at varying levels.

CA - CPT ICAI Model Test Paper - 5 - Question 165

______ is extremely sensitive to the size of the sample.

CA - CPT ICAI Model Test Paper - 5 - Question 166

Under Algebraic Method we get ______ linear equations.

CA - CPT ICAI Model Test Paper - 5 - Question 167

If the probability of a horse A winning a race is 1/6 and the probability of a horse B winningthe same race is ¼, ______ is the probability that one of the horses will win.

CA - CPT ICAI Model Test Paper - 5 - Question 168

______ distribution is sometimes known as the “distribution of rare events”.

CA - CPT ICAI Model Test Paper - 5 - Question 169

The Standard deviation of the ______ distribution is called standard error.

CA - CPT ICAI Model Test Paper - 5 - Question 170

For 5 sample values, we have ______ degree of freedom.

CA - CPT ICAI Model Test Paper - 5 - Question 171

Solve for y in the equation  and the value of y is

CA - CPT ICAI Model Test Paper - 5 - Question 172

If  5Pr = 60, then the value of r is

CA - CPT ICAI Model Test Paper - 5 - Question 173

A question paper contains 6 questions, each having an alternative. The number of ways an examiner can answer one or more questions is

CA - CPT ICAI Model Test Paper - 5 - Question 174

CA - CPT ICAI Model Test Paper - 5 - Question 175

CA - CPT ICAI Model Test Paper - 5 - Question 176

Integrate w.r.t. (3 – 2x – x4)