CA-CPT Question Paper December - 2015 (Session 1) - CA Foundation MCQ

1,500 boxes costing Rs.10 each were sent on consignment. Rs.12,000 spent on freight. A loss of 10% is unavoidable. Calculate the cost of each box.

Which of the following are not the methods of preparing the trial balance?

At the time of valuation of goodwill, weighted average price method is followed, if the profits of the firm are ____

From the following information calculate the amount received from debtors.

• Opening balance of cash Rs.56,000
• Bills discounted Rs.21,000
• Bills payable honoured Rs.14,000
• Cash purchases Rs.1,26,000
• Other Expenses Rs.1,84,000
• Payment to Creditors Rs.2,32,000
• Cash sales Rs.3,95,000
• Closing balance of cash Rs.47,000

Out of the following which is not the external factor of depreciation?

Match the following

In the balance sheet of a company, capital work in progress is shown under the head __

A bill is drawn by X on 06-03-2015, for a period of 30 days after sight. It is accepted on 10-03- 2015. The due date of the bill will be ___

Which of the following statements are true about discount columns of cashbook?

Securities premium cannot be used for ___

Contingent liability is ____

Fixed deposit is a ____ A/c according to traditional approach and ____ A/c according to accounting equation approach.

_____ A/c shows a debit balance.

At the end of the accounting year, the details of three materials X, Y & Z are as follows:

Find out the value of closing inventory

The Portion of acquisition cost of an asset yet to be allocated is _____

When shares are issued at a price which is more than the par value, the excess price will be credited to ______

Decrease in the provision for doubtful debts amounts to ____

Receipts of Promissory Notes and Hundies will be recorded in ____ for our convenience

Decrease in Bank overdraft balance results in _

On 1-3-15 Rohan sent goods costing Rs.60,000 at a profit of 25% on sales to Mohan on Sale or return basis. On 31-3-15 Mohan returned goods costing Rs.18,000. At the end of Financial Year the remaining goods were neither returned nor approved by Mohan. Rohan records the goods sent on approval as normal sale. In the balance sheet, for the goods sent but not yet approved __________.

Trade discount is recorded in _____

In case of death of a partner, his share in the profits of the firm till the date of his death will be debited to ______ A/c.

Lion and Tiger having capitals of Rs.2,00,000 each are sharing profits and losses equally. Leopard joins as an equal partner with a capital of Rs.2,50,000. Goodwill of the firm is valued at Rs.2,10,000. The revaluation profit is Rs.36,000. Find the closing capitals of Lion, Tiger and Leopard

The difference between Passbook and Cashbook occurs due to ________

The following are the valuation principles except ______

From the following particulars calculate the amount of proposed dividend

• Called up share Capital Rs.25,00,000
• Calls in arrears Rs.1,90,000
• Calls in advance Rs.70,000
• Proposed Dividend 20%

Ram is a partner. He made drawings as follows:

• July1 – Rs.200
• August 1 – Rs.200
• September – 1 Rs.300
• November 1 – Rs.50
• February 1 – Rs.100

If the rate of interest on drawings is 6% and accounts are closed on March 31 the interest on drawings is: