CA Foundation  >  CA - CPT ICAI Model Test Paper - 4 Download as PDF

CA - CPT ICAI Model Test Paper - 4


Test Description

200 Questions MCQ Test | CA - CPT ICAI Model Test Paper - 4

CA - CPT ICAI Model Test Paper - 4 for CA Foundation 2022 is part of CA Foundation preparation. The CA - CPT ICAI Model Test Paper - 4 questions and answers have been prepared according to the CA Foundation exam syllabus.The CA - CPT ICAI Model Test Paper - 4 MCQs are made for CA Foundation 2022 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for CA - CPT ICAI Model Test Paper - 4 below.
Solutions of CA - CPT ICAI Model Test Paper - 4 questions in English are available as part of our course for CA Foundation & CA - CPT ICAI Model Test Paper - 4 solutions in Hindi for CA Foundation course. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free. Attempt CA - CPT ICAI Model Test Paper - 4 | 200 questions in 240 minutes | Mock test for CA Foundation preparation | Free important questions MCQ to study for CA Foundation Exam | Download free PDF with solutions
1 Crore+ students have signed up on EduRev. Have you?
CA - CPT ICAI Model Test Paper - 4 - Question 1

In the books of manufacturing concern, opening inventory consists of

CA - CPT ICAI Model Test Paper - 4 - Question 2

When adjusted purchase is shown on the debit column of the trial balance then

CA - CPT ICAI Model Test Paper - 4 - Question 3

Following is the example of external users of financial statements:

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

“Business unit is separate and distinct from the person who supply capital to it”, is based on

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

State the case where the going concern concept is applied?

CA - CPT ICAI Model Test Paper - 4 - Question 6

If two or more transactions of the same nature are journalised together having either the debit or the credit account common is known as

CA - CPT ICAI Model Test Paper - 4 - Question 7

If the cheque issued is not presented for the payment upto the date of the preparation of the Bank Reconciliation Statement, then the balance as per Pass Book will be

CA - CPT ICAI Model Test Paper - 4 - Question 8

Whenever errors are noticed in the accounting records, they should be rectified

CA - CPT ICAI Model Test Paper - 4 - Question 9

Parties to a bill of exchange are

CA - CPT ICAI Model Test Paper - 4 - Question 10

All the expenditures and receipts of revenue nature go to

CA - CPT ICAI Model Test Paper - 4 - Question 11

A _______ is sent to a customer when he returns the goods.

CA - CPT ICAI Model Test Paper - 4 - Question 12

Noting charges are paid at the time of _______ of a bill.

CA - CPT ICAI Model Test Paper - 4 - Question 13

Depreciation of fixed assets is an example of _______ expenditure.

CA - CPT ICAI Model Test Paper - 4 - Question 14

Interest on drawings is _______ for the business.

CA - CPT ICAI Model Test Paper - 4 - Question 15

An amount of Rs.200 received from A credited to B would affect _______

CA - CPT ICAI Model Test Paper - 4 - Question 16

As per section 12 of Negotiable Instruments Act, which of the following is not a foreign bill?

CA - CPT ICAI Model Test Paper - 4 - Question 17

In _______ method, depreciation is charged by allocating depreciable cost in proposition of the annual output to the probable life-time output.

CA - CPT ICAI Model Test Paper - 4 - Question 18

General reserve at the time of admission of a new partner is transferred to ______.

CA - CPT ICAI Model Test Paper - 4 - Question 19

A suspense account facilitates the preparation of ______  even when the ______ has not tallied.

CA - CPT ICAI Model Test Paper - 4 - Question 20

Recording of a transaction in the ledger is called ______.

CA - CPT ICAI Model Test Paper - 4 - Question 21

Accounting has certain norms to be observed by the accountants in recording of transactions and preparation of financial statements. These norms reduce the vagueness and chances of misunderstanding by harmonizing the varied accounting practices. These norms are

CA - CPT ICAI Model Test Paper - 4 - Question 22

RPG Ltd. purchased equipment from PQR Ltd. for Rs.50,000 on 1st April, 2009.  The freight and cartage of Rs.2,000 is spent to bring the asset to the factory and Rs.3,000 is incurred on installing the equipment to make it possible for the intended use.  The market price of machinery on 30th April, 2010 is Rs.60,000 and the accountant of the company wants to disclose the machinery at Rs.60,000 in financial statements.  However, the auditor emphasizes that the machinery should be valued at Rs.55,000 (50,000+2,000+3,000) according to:

CA - CPT ICAI Model Test Paper - 4 - Question 23

Mr. A started a business on 1st January 2009 with Rs. 5,00,000. During the year he bought goods worth Rs. 1,00,000 on credit and sold 80% of the same goods at profit of 20% on cost.At the end of the year 2009, the amount of opening inventory to be shown in the trial balance of Mr. A will be

CA - CPT ICAI Model Test Paper - 4 - Question 24

Trade receivables on 31st March 20 10 are Rs.5 5,200 . Further bad debts are Rs.2 00.Provision for doubtful debts are to be made on Trade receivables @ 5% and also provision of discount is to be made on Trade receivables @ 2%. The amount of provision of doubtful debts will be

CA - CPT ICAI Model Test Paper - 4 - Question 25

A firm purchases a 5 years’ lease for Rs. 40,000 on 1st January. It decides to write off depreciation on the Annuity method, presuming the rate of interest to be 5% per annum.The annuity for it is 0.230975. The amount of annual depreciation will be

CA - CPT ICAI Model Test Paper - 4 - Question 26

The balance of machine on 31st March 2010 is Rs.72,900 (after charging  depreciation of the year). The machine was purchased on 1st April 2007 charging depreciation @10% p.a. by diminishing balance method. The cost price of the machine as on 1st April 2007 would be

CA - CPT ICAI Model Test Paper - 4 - Question 27

On May 01, 2009, Y Ltd. issued 7% 40,000 convertible debentures of Rs.100 each at a premium of 20%. Interest is payable on September 30 and March 31, every year.Assuming that the interest runs from the date of issue, the amount of interest expenditure debited to Profit and Loss Account for the year ended March 31, 2010 will be

CA - CPT ICAI Model Test Paper - 4 - Question 28

A company cannot issue redeemable preference shares (not issued for infrastructure projects) for a period exceeding

CA - CPT ICAI Model Test Paper - 4 - Question 29

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 will be

CA - CPT ICAI Model Test Paper - 4 - Question 30

Z Ltd. issued 10,000 shares of Rs.10 each. The called up value per share was Rs.8. The company forfeited 200 shares of Mr. A for non-payment of 1st call money of Rs.2 per share. He paid Rs.6 for application and allotment money. On forfeiture, the share capital account will be _________.

CA - CPT ICAI Model Test Paper - 4 - Question 31

R, J and D are partners sharing profits in the ratio 7:5:4. D died on 30th June 2010 and profits for the accounting year 2009-2010 were Rs. 24,000. How much share in profits for the period 1st April 2010 to 30th June 2010 will be credited to D’s Account?

CA - CPT ICAI Model Test Paper - 4 - Question 32

A company sends its cars to dealers on ‘sale or return’ basis.  All such transactions are however treated like actual sales and are passed through the sales day book.  Just before the end of the financial year, two cars which had cost Rs.55,000 each have been sent on ‘sale or return’ and have been debited to customers at Rs.75,000 each, cost of goods lying with the customers will be

CA - CPT ICAI Model Test Paper - 4 - Question 33

A second hand car is purchased for Rs. 10,000, the amount of Rs. 1,000 is spent on its repairs, Rs. 500 is incurred to get the car registered in owner’s name and Rs. 1,200 is paid as dealer’s commission.  The amount debited to car account will be

CA - CPT ICAI Model Test Paper - 4 - Question 34

A bill of Rs. 12,000 was discounted by A with the banker for Rs. 11,880. At maturity, the bill returned dishonoured, noting charges Rs 20. How much amount will the bank deduct from A’s bank balance at the time of such dishonour?

CA - CPT ICAI Model Test Paper - 4 - Question 35

In a joint venture between A and B, A purchased goods costing Rs.42,500. B sold goods costing Rs. 40,000 at Rs. 50,000. Balance goods were taken over by A at same gross profit percentage as in case of sale. The amount of goods taken over by A will be:

CA - CPT ICAI Model Test Paper - 4 - Question 36

Mr. X is a partner in a firm.  He withdraws Rs.200 at the end of each month.  If rate of interest on drawings is @ 5% p.a., the interest on drawings is

CA - CPT ICAI Model Test Paper - 4 - Question 37

Mohan and Sohan are partners in a firm sharing profits and losses in the ratio 5:3. The firm earned profits during last four years amounting Rs.18,000, Rs.8,500 (loss), Rs.30,000 and Rs.16,500 respectively.  The value of goodwill on the basis of one and a half year’s purchase of average profits of last four years will be

CA - CPT ICAI Model Test Paper - 4 - Question 38

A to whom 100 shares of Rs.10 each was allotted at par, paid Rs.3 on application, Rs.3 on allotment but could not pay the first and final call money of Rs.4.  His shares were forfeited by the directors.  The amount to be credited to shares forfeited account will be

CA - CPT ICAI Model Test Paper - 4 - Question 39

Balance as per cash book is Rs. 5,000.  Cheques issued but not presented for payment debited the account of firm by Rs. 20.  Balance as per pass book will be

CA - CPT ICAI Model Test Paper - 4 - Question 40

Following are the extracts from the trial balance of a firm as on 31st December, 2009:

CA - CPT ICAI Model Test Paper - 4 - Question 41

Following are the extracts from the Trial Balance of a firm as on 31st December, 2009.

(i) After preparing the trial balance, it is learnt that a customer, Mohan became insolvent and therefore, the entire amount of Rs.3,000 due from him was irrecoverable.

(ii) 10% provision for bad and doubtful debts is generally created.
The amount of provision for bad and doubtful debts to be charged to profit and loss account will be

CA - CPT ICAI Model Test Paper - 4 - Question 42

A and B are partners in a firm.  During the year 2009, A withdrew Rs.1,000 p.m. and B withdraw Rs.500 p.m. on the first day of each month for personal use.  Interest on drawings is to be charged @ 10% p.a. The interest on drawings will be

CA - CPT ICAI Model Test Paper - 4 - Question 43

A and B are partners in a firm sharing profits and losses in the ratio of 3:2.  They have invested capitals of Rs.40,000 and Rs.25,000 respectively.  As per the partnership deed, they are entitled to interest on capital @ 5% p.a. before dividing the profits.  During the year, the firm earned a profit of Rs.3,900 before allowing interest.  The net profit will be apportioned as

CA - CPT ICAI Model Test Paper - 4 - Question 44

Our acceptance to Mr. A for Rs.8,000 renewed for 3 months on the condition that Rs.2,000 is paid in cash immediately and the new bill to be drawn for remaining balance to carry out interest at 18% p.a. The amount of the renewed bill of exchange will be

CA - CPT ICAI Model Test Paper - 4 - Question 45

Advertisement expenditure of Rs.10,000 paid on 30.12.2009, the advertisement in respect of which has appeared in the magazines of January, 2010.This expenditure will be

CA - CPT ICAI Model Test Paper - 4 - Question 46

On 1st January, 2009, Alpha Ltd. purchased a machine for Rs.50,000 and spent Rs.4,000 on its carriage and Rs.2,000 on its installation. On the date of purchase, it was estimated that the effective life of the machine will be 10 years and after 10 years its scrap value will be Rs.6,000.  Depreciation is charged on straight line basis. Depreciation for the year 2009 will be

CA - CPT ICAI Model Test Paper - 4 - Question 47

Ram and Gopal are partners sharing profits and losses in the ratio of 2:1.  Gopal gave a loan of Rs.12,000 to the firm. They did not have any specific agreement about interest on loan mentioned in the partnership deed. Gopal claims interest on loan @ 10% p.a. The interest on loan as per the rules of the Partnership Act, 1932 will be:

CA - CPT ICAI Model Test Paper - 4 - Question 48

Mr. A is a partner in a firm along with Mr. B. Both contributed capitals of Rs.40,000 and Rs.50,000 respectively on the 1st of July, 2009. Interest on capital is to be charged @ 10% p.a.  Books of account are to be closed on 31st December, 2009. Interest on capital is

CA - CPT ICAI Model Test Paper - 4 - Question 49

A firm has an average profit of Rs.60,000. Rate of return on capital employed is 12.5% p.a.Total capital employed in the firm was Rs.4,00,000. Goodwill on the basis of two years purchase of super profits is

CA - CPT ICAI Model Test Paper - 4 - Question 50

A transport company purchases a truck for Rs.2,00,000 on 1st January, 2009.  It charges 20% depreciation p.a. according to w.d.v. method.  The truck was sold on 1st July, 2010 for a sum of Rs.1,60,000.The  profit or loss on sale of truck is

CA - CPT ICAI Model Test Paper - 4 - Question 51

Ram started business with cash Rs.50,000 Purchased goods from Mohan on credit Rs.20,000 Sold goods to Shyam (costing Rs.3,000) for cash Rs.3,600 The accounting equation on the basis of the above transactions will be

CA - CPT ICAI Model Test Paper - 4 - Question 52

Value of physical inventory on 15.4.2010 was Rs.3,00,000.  Sales amounting Rs.1,00,000 and purchases worth Rs.50,000 were held between 31.3.2010 and 15.4.2010. Goods are sold at a profit of 20% on sales. Value of inventory as on 31.3.2010 is

CA - CPT ICAI Model Test Paper - 4 - Question 53

A and B entered into a joint venture agreement to share the profits and losses in the ratio of 2:1.  A supplied 100 radio sets worth Rs.1,00,000 to B incurring expenses of Rs.5,000 for freight and insurance. B sold 95 radio sets for Rs.1,20,000. 5 radio sets were taken over by B. The profit/loss on venture will be

CA - CPT ICAI Model Test Paper - 4 - Question 54

The liabilities that are payable in more than a year and are not be liquidated from current assets

CA - CPT ICAI Model Test Paper - 4 - Question 55

Record of purchase of T.V.parts.

Q. The value of T.V. sets on 15 March, as per LIFO will be 

CA - CPT ICAI Model Test Paper - 4 - Question 56

Goods costing Rs. 10,000 were sold at 1/6 profit on selling price. The sale value  will be

CA - CPT ICAI Model Test Paper - 4 - Question 57

A purchased a computer costing Rs.10,000. Repairing expenses Rs.1,000 and miscellaneous expenses Rs.500 were incurred by him on the Computer. He sold the computer at 20% margin on selling price.  The sales value will be

CA - CPT ICAI Model Test Paper - 4 - Question 58

Priya sold goods to Nidhi for Rs.1,00,000. Priya will grant 5% discount to Nidhi. Nidhi requested Priya to draw a bill. The amount of the bill will be

CA - CPT ICAI Model Test Paper - 4 - Question 59

A bill is drawn on 28th March, 2010 for one month after sight. The date of acceptance is 2nd April, 2010. The maturity  date of the bill will be

CA - CPT ICAI Model Test Paper - 4 - Question 60

Under mutual accommodation, Mohan drew a bill on Shyam for Rs.50,000 for 3 months.Proceeds are to be shared equally. Mohan got the bill discounted at 12% p.a. and remits required proceeds to Shyam. The amount of such remittance will be

CA - CPT ICAI Model Test Paper - 4 - Question 61

Cross Offers means

CA - CPT ICAI Model Test Paper - 4 - Question 62

Valid Contract:

CA - CPT ICAI Model Test Paper - 4 - Question 63

Which of the following is a requirement for misrepresentation to exist?

CA - CPT ICAI Model Test Paper - 4 - Question 64

Which of the following agreements is void?

CA - CPT ICAI Model Test Paper - 4 - Question 65

Which of the following offers constitute a valid offer?

CA - CPT ICAI Model Test Paper - 4 - Question 66

Which of the following statements is true?

CA - CPT ICAI Model Test Paper - 4 - Question 67

Contract caused by which of the following is void?

CA - CPT ICAI Model Test Paper - 4 - Question 68

Suppose the time fixed for performance of the contract has expired but the time is not essential.What is the remedy to the promisee in the circumstances?

CA - CPT ICAI Model Test Paper - 4 - Question 69

What is legal terminology for the doing or not doing of something which the promisor desires to be done or not done?

CA - CPT ICAI Model Test Paper - 4 - Question 70

Goods must be the same as wanted by the buyer. This is

CA - CPT ICAI Model Test Paper - 4 - Question 71

Goods dependant upon certain events which may or may not happen.

CA - CPT ICAI Model Test Paper - 4 - Question 72

Which of the following is a not document of title to goods?

CA - CPT ICAI Model Test Paper - 4 - Question 73

The term ‘goods’ for the purpose of the Sale of Goods Act, 1930 includes

CA - CPT ICAI Model Test Paper - 4 - Question 74

In which of the following cases, the unpaid seller loses his right of lien?

CA - CPT ICAI Model Test Paper - 4 - Question 75

In case of sale of standing trees, the property passes to the buyer when trees are

CA - CPT ICAI Model Test Paper - 4 - Question 76

Partnership

CA - CPT ICAI Model Test Paper - 4 - Question 77

X and Y agree to work together as carpenters but X shall receive all profit and shall pay wages to Y. The relation between X and Y is that

CA - CPT ICAI Model Test Paper - 4 - Question 78

Which of the following is an essential feature of partnership?

CA - CPT ICAI Model Test Paper - 4 - Question 79

Which of the following acts are not included in the implied authority of a partner?

CA - CPT ICAI Model Test Paper - 4 - Question 80

Implied contract, even if not in writing or express words, is perfectly ________if other conditions are satisfied

CA - CPT ICAI Model Test Paper - 4 - Question 81

R, an optical surgeon, employs S as the assistant for a term of three years and S agrees not to practice as a surgeon during this period. This contract is _________

CA - CPT ICAI Model Test Paper - 4 - Question 82

________ consideration is no consideration in England.

CA - CPT ICAI Model Test Paper - 4 - Question 83

A agrees to pay Rs. 500 to B if it rains, and B promises to pay a like amount to A if it does not rain, this agreement is called ___________.

CA - CPT ICAI Model Test Paper - 4 - Question 84

When the offeree offers to qualified acceptance of the offer subject to modifications and variations he is said to have made a ___________.

CA - CPT ICAI Model Test Paper - 4 - Question 85

When after the formation of a valid contract, an event happens which makes the performance of contract impossible, and then the contract becomes ___________.

CA - CPT ICAI Model Test Paper - 4 - Question 86

Where the performance of a promise by one party depends on the prior performance of promise by the other party, such reciprocal promises fall under the category of __________.

CA - CPT ICAI Model Test Paper - 4 - Question 87

The basis of ‘quasi contractual relations’ is the __________.

CA - CPT ICAI Model Test Paper - 4 - Question 88

A agrees to pay Rs. 1000 to B if a certain ship returns within a year.  However, the ship sinks within the year.  In this case, the contract becomes __________

CA - CPT ICAI Model Test Paper - 4 - Question 89

Where an agreement consists of two parts once legal and the other illegal, and the legal part is separable from the illegal one, such legal part is __________.

CA - CPT ICAI Model Test Paper - 4 - Question 90

The Sale of Goods Act, 1930 came into force on __________.

CA - CPT ICAI Model Test Paper - 4 - Question 91

Contract of Sale is __________.

CA - CPT ICAI Model Test Paper - 4 - Question 92

Where in an auction sale, the seller appoints more than one bidder, the sale is __________.

CA - CPT ICAI Model Test Paper - 4 - Question 93

Where the goods are delivered to a carrier or wharfinger for the purpose of transmission to the buyer, the delivery is __________.

CA - CPT ICAI Model Test Paper - 4 - Question 94

The property in the goods means the __________.

CA - CPT ICAI Model Test Paper - 4 - Question 95

Untill goods are ascertained there is merely __________.

CA - CPT ICAI Model Test Paper - 4 - Question 96

A genuine pre-estimate of the probable loss is __________.

CA - CPT ICAI Model Test Paper - 4 - Question 97

Discharge by mutual agreement may involve__________.

CA - CPT ICAI Model Test Paper - 4 - Question 98

A enquires from B, “Will you purchase my cow for $ 100?” B replies, “I shall purchase your cow for $ 100 provided you purchase my parrot for $ 120.” In this case __________.

CA - CPT ICAI Model Test Paper - 4 - Question 99

A sold 1000 tins of oil to B without appropriating any particular oil to the contract. B sold 600 tins out it to C and gave delivery order addressed to A. C lodged the delivery order with A requesting him to “await” his orders. Meanwhile, B became insolvent and thus A became the unpaid seller.

CA - CPT ICAI Model Test Paper - 4 - Question 100

X fraudulently induced Y to enter into partnership with him and Y pays a premium of Rs.5,000/- to A. Within three months the firm incurs liabilities to the extent of Rs.10,000/-.On discovering the fraud, Y files a suit for the rescission of the contract creating partnership and contract is rescinded. The creditors of the firm also levy attachment on Y who pays Rs.3,000/- to them as well.  Which of the following is correct?

CA - CPT ICAI Model Test Paper - 4 - Question 101

Find the correct match:

CA - CPT ICAI Model Test Paper - 4 - Question 102

Suppose the demand for meals at a medium-priced restaurant is elastic. If the management of the restaurant is considering raising prices, it can expect a relatively:

CA - CPT ICAI Model Test Paper - 4 - Question 103

Which of the following is not a characteristic of a “price taker”?

CA - CPT ICAI Model Test Paper - 4 - Question 104

Which cost increases continuously with the increase in production?

CA - CPT ICAI Model Test Paper - 4 - Question 105

Which one is not an assumption of the theory of demand based on analysis of indifference curves?

CA - CPT ICAI Model Test Paper - 4 - Question 106

Which of the following statements is correct?

CA - CPT ICAI Model Test Paper - 4 - Question 107

We can say Indian agriculture has become modern since:

CA - CPT ICAI Model Test Paper - 4 - Question 108

Which of the following statements is correct?

CA - CPT ICAI Model Test Paper - 4 - Question 109

Jet Airways and Kingfisher are examples of:

CA - CPT ICAI Model Test Paper - 4 - Question 110

All of the following developments were noticed during 1991(when economic reforms were enforced) except one. Identify it.

CA - CPT ICAI Model Test Paper - 4 - Question 111

All of the following statements except one are correct about the foreign trade policy, 2004-09. Identify the incorrect statement:

CA - CPT ICAI Model Test Paper - 4 - Question 112

The economic reforms have failed to:

CA - CPT ICAI Model Test Paper - 4 - Question 113

Broad money refers to

CA - CPT ICAI Model Test Paper - 4 - Question 114

Nationalization of banks aimed at all of the following except:

CA - CPT ICAI Model Test Paper - 4 - Question 115

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

CA - CPT ICAI Model Test Paper - 4 - Question 116

Which of the following statements is incorrect?

CA - CPT ICAI Model Test Paper - 4 - Question 117

————— expressed the view that “Economics is neutral between end”.

CA - CPT ICAI Model Test Paper - 4 - Question 118

The law of demand refers to —————.

CA - CPT ICAI Model Test Paper - 4 - Question 119

Increasing returns imply —————.

CA - CPT ICAI Model Test Paper - 4 - Question 120

In monopolistic competition, a firm is in long run equilibrium —————.

CA - CPT ICAI Model Test Paper - 4 - Question 121

Of the major 12 ports, ———— has been top traffic handler for the last five years.

CA - CPT ICAI Model Test Paper - 4 - Question 122

On an average, one post office in India serves —————.

CA - CPT ICAI Model Test Paper - 4 - Question 123

At present, nearly ————— percent of the energy consumed is obtained from noncommercial traditional sources.

CA - CPT ICAI Model Test Paper - 4 - Question 124

————— refers to the transfer of assets or services functions from public to private ownership.

CA - CPT ICAI Model Test Paper - 4 - Question 125

At present only ————— industries are reserved for the public sector.

CA - CPT ICAI Model Test Paper - 4 - Question 126

At present, Bank rate is ————— percent. (Sept. 2014)

CA - CPT ICAI Model Test Paper - 4 - Question 127

————— is the official minimum rate at which the central bank of a country is prepared to rediscount approved bills held by banks.

CA - CPT ICAI Model Test Paper - 4 - Question 128

EPCG stands for —————.

CA - CPT ICAI Model Test Paper - 4 - Question 129

The area under irrigation has ————— over the years in India.

CA - CPT ICAI Model Test Paper - 4 - Question 130

The service sector in India now accounts for —————.

CA - CPT ICAI Model Test Paper - 4 - Question 131

————— is the Banker’s Bank  in India.

CA - CPT ICAI Model Test Paper - 4 - Question 132

According to the 2001 census the total literacy ratio is

CA - CPT ICAI Model Test Paper - 4 - 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. Ass ume X is a no rmal good.  H olding ev erything else constant, as sume that income rises and the price of a factor of production also increases. What point in Figure 1 is most likely to be the new equilibrium price and quantity? 

CA - CPT ICAI Model Test Paper - 4 - 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. We are analyzing the market for good Z.  The price of a complement good, good Y, declines.
At the same time, there is a technological advance in the production of good Z. What point Figure 1 is most likely to be the new equilibrium price and quantity?

CA - CPT ICAI Model Test Paper - 4 - 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. Heavy rains in Maharashatra during 2005 and 2006 caused havoc with the rice crop. What point in Figure 1 is most likely to be the new equilibrium price and quantity? 

CA - CPT ICAI Model Test Paper - 4 - 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. As sume that cons umers expect the prices o n new cars to sig nificantly increase next year.  What point in Figure 1 is most likely to be the new equilibrium price and quantity?

CA - CPT ICAI Model Test Paper - 4 - 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. What combinations of changes would most likely decrease the equilibrium quantity?

CA - CPT ICAI Model Test Paper - 4 - Question 138

(Direction 138 - 141) Use Table 1 to answer questions .

 

Q. Refer to Table 1 which lists the average costs of a perfectly competitive firm. If the price of the good is Rs 13, the firm will be produce 

CA - CPT ICAI Model Test Paper - 4 - Question 139

 

Q. Refer to the competitive firm in Table 1. If the market price is Rs 31, the firm will produce:

CA - CPT ICAI Model Test Paper - 4 - Question 140

 

Q. In Table 1, if price is Rs 26, the perfectly competitive firm will

CA - CPT ICAI Model Test Paper - 4 - Question 141

 

Q. In Table 1, if price is Rs 34, the perfectly competitive firm will:

CA - CPT ICAI Model Test Paper - 4 - Question 142

(Direction 142 - 147) Read the following paragraph and answer Questions.

Anisha quit her job at a private company where she earned Rs. 2,90,000 a year. She withdrew Rs. 4,00,000 in a savings account that earned 10% interest annually to buy a second hand mini bus to commune passenger between Cannaught Place and Noida. There are 1000 passengers who will pay Rs. 4000 a year each for commuter services; Rs. 2800 from each passenger goes for petrol, maintenance, depreciation etc.

 

Q. What is Anisha’s total revenue from her commuter service?

CA - CPT ICAI Model Test Paper - 4 - Question 143

Anisha quit her job at a private company where she earned Rs. 2,90,000 a year. She withdrew Rs. 4,00,000 in a savings account that earned 10% interest annually to buy a second hand mini bus to commune passenger between Cannaught Place and Noida. There are 1000 passengers who will pay Rs. 4000 a year each for commuter services; Rs. 2800 from each passenger goes for petrol, maintenance, depreciation etc.

 

Q. Calculate Anisha’s accounting costs? 

CA - CPT ICAI Model Test Paper - 4 - Question 144

Anisha quit her job at a private company where she earned Rs. 2,90,000 a year. She withdrew Rs. 4,00,000 in a savings account that earned 10% interest annually to buy a second hand mini bus to commune passenger between Cannaught Place and Noida. There are 1000 passengers who will pay Rs. 4000 a year each for commuter services; Rs. 2800 from each passenger goes for petrol, maintenance, depreciation etc.

 

Q. Calculate Anisha’s economic cost?

CA - CPT ICAI Model Test Paper - 4 - Question 145

Anisha quit her job at a private company where she earned Rs. 2,90,000 a year. She withdrew Rs. 4,00,000 in a savings account that earned 10% interest annually to buy a second hand mini bus to commune passenger between Cannaught Place and Noida. There are 1000 passengers who will pay Rs. 4000 a year each for commuter services; Rs. 2800 from each passenger goes for petrol, maintenance, depreciation etc.

 

Q. We can say that Anisha:

CA - CPT ICAI Model Test Paper - 4 - Question 146

Anisha quit her job at a private company where she earned Rs. 2,90,000 a year. She withdrew Rs. 4,00,000 in a savings account that earned 10% interest annually to buy a second hand mini bus to commune passenger between Cannaught Place and Noida. There are 1000 passengers who will pay Rs. 4000 a year each for commuter services; Rs. 2800 from each passenger goes for petrol, maintenance, depreciation etc.

 

Q. Calculate Anisha’s accounting profit/loss?

CA - CPT ICAI Model Test Paper - 4 - Question 147

Anisha quit her job at a private company where she earned Rs. 2,90,000 a year. She withdrew Rs. 4,00,000 in a savings account that earned 10% interest annually to buy a second hand mini bus to commune passenger between Cannaught Place and Noida. There are 1000 passengers who will pay Rs. 4000 a year each for commuter services; Rs. 2800 from each passenger goes for petrol, maintenance, depreciation etc.

 

Q. Calculate Anisha’s economic profit/loss? 

CA - CPT ICAI Model Test Paper - 4 - Question 148

If the local pizzeria raises the price of a medium pizza from Rs.60 to Rs.100 and quantity demanded falls from 700 pizzas a night to 100 pizzas a night, the price elasticity of demand for pizzas is: (use arc Elasticity Method)

CA - CPT ICAI Model Test Paper - 4 - Question 149

Suppose a consumer’s income increases from Rs.30,000 to Rs.36,000. As a result, the consumer increases her purchases of compact discs (CDs) from 25 CDs to 30 CDs. What is the consumer’s income elasticity of demand for CDs?

CA - CPT ICAI Model Test Paper - 4 - Question 150

If the quantity demanded of beef increases by 5% when the price of chicken increases by 20%, the cross-price elasticity of demand between beef and chicken is

CA - CPT ICAI Model Test Paper - 4 - Question 151

The entire upper part of a table is known as

CA - CPT ICAI Model Test Paper - 4 - Question 152

Ogive is a

CA - CPT ICAI Model Test Paper - 4 - Question 153

In case of an even number of observations which of the following is median?

CA - CPT ICAI Model Test Paper - 4 - Question 154

If the A.M. and G.M. for two numbers are 6.50 and 6 respectively then the two numbers are

CA - CPT ICAI Model Test Paper - 4 - Question 155

If all the observations are increased by 10, then

CA - CPT ICAI Model Test Paper - 4 - Question 156

Mode of  0, 3, 5, 6, 7, 9, 12, 0, 2 is

CA - CPT ICAI Model Test Paper - 4 - Question 157

What is spurious correlation?

CA - CPT ICAI Model Test Paper - 4 - Question 158

The line x = a + by represents the regression equation of

CA - CPT ICAI Model Test Paper - 4 - Question 159

When ‘p’  = 0.5, the binomial distribution is

CA - CPT ICAI Model Test Paper - 4 - Question 160

A population comprises 5 members. The number of all possible samples of size 2 that can be drawn from it with replacement is

CA - CPT ICAI Model Test Paper - 4 - Question 161

Tally marks determines ______.

CA - CPT ICAI Model Test Paper - 4 - Question 162

______ always lies in between the arithmetic mean & mode.

CA - CPT ICAI Model Test Paper - 4 - Question 163

In case ‘The ages of husbands and wives’ correlation is ______.

CA - CPT ICAI Model Test Paper - 4 - Question 164

If P = 0, then the two events A and B are ______ .

CA - CPT ICAI Model Test Paper - 4 - Question 165

In ______ distribution, mean = variance.

CA - CPT ICAI Model Test Paper - 4 - Question 166

A______ distribution is a theoretical distribution that expresses the functional relation between each of the distinct values of the sample statistic and the corresponding probability.

CA - CPT ICAI Model Test Paper - 4 - Question 167

If an investment of Rs.1000 and Rs.100 yield an income of Rs.90 and Rs.20 respectively, for earning Rs.50 investment of Rs.________ will be required.

CA - CPT ICAI Model Test Paper - 4 - Question 168

 If 18Cn = 18Cn + 2 then the value of n is ________. 

CA - CPT ICAI Model Test Paper - 4 - Question 169

The sum of square of first n natural number is ________.

CA - CPT ICAI Model Test Paper - 4 - Question 170

If  b2 – 4ac = 0 the roots are ______ and ______.

CA - CPT ICAI Model Test Paper - 4 - Question 171

The index number of prices at a place in 1998 is 355 with 1991 as base.  This means

CA - CPT ICAI Model Test Paper - 4 - Question 172

The sum of a series in A.P. is 72 the first term being 17 and the common difference –2. The number of terms is

CA - CPT ICAI Model Test Paper - 4 - Question 173

The mean proportional between 1.4 gms and 5.6 gms is

CA - CPT ICAI Model Test Paper - 4 - Question 174

Which is True ?

CA - CPT ICAI Model Test Paper - 4 - Question 175

8 is the solution of the equation

CA - CPT ICAI Model Test Paper - 4 - Question 176

The sum of the digits of a two digit number is 10. If 18 be subtracted from it the digits in the resulting number will be equal. The number is