CA CPT Question Paper June - 2015 (Session 1) - CA Foundation MCQ
30 Questions MCQ Test - CA CPT Question Paper June - 2015 (Session 1)
Premium on Redemption of Debentures A/c is ____A/c
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
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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. ____
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. ____
The capital of a sole trader is affected by____
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___
Salary payable to an employee Rs. 50,000/-. Which account is to be credited?
According to the Companies Act, 2013, preference shares are to be redeemed with in a period of____ years.
Trial balance is prepared to locate ____
If there is no partnership deed, the profits will be shared by the partners ____
Cost of acquisition, which is yet to be allocated is ____
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____
All fixed assets are put together and all current assets are put together, under which of the following accounting stages?
X and Y are partners sharing profits and losses in the ratio of 3:2. They admitted Z for 1/4th share. The new profit sharing ratio will be ___
The Suspense A/c facilitates the preparation of ___ even if the has not been balanced.
A decrease in the provision for bad and doubtful debts results in____
Calculate depreciation for the 4th year under sum of years digits methodCost of the asset Rs. 10,00,000 Life Time 5 years Salvage value 10%
Mr. Z purchased goods for Rs. 20,00,00, and sold 4/5th 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?
As per Section 133 of the Companies Act, 2013, companies cannot use the securities premium for ____
When the shares are issued to promoters for the services rendered by them _____ A/c will be debited.
The total of Discount column on the debit side of cash book is transferred to____
When recording of a transaction, substance of that transaction should be considered and not its legal form. This statement is according to____
All of the following are the advantages of accounting standards, except ____
Bill at sight means the instance at which ____
The following are the features of perpetual inventory system except ____
A sent to B goods of the invoice price of Rs. 2,00,000. 4/5th 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?
In the absence of agreement, the partners are entitled to ____
As per the Companies Act, 2013 which of the following statements is false in respect of a Small Company?
An inexperienced accountant prepared the following trial balance
Find out the balance of Suspense A/C
In the admission of a partner, the new partner is liable from____
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