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CA-CPT Question Paper June - 2013 (Session 1)


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100 Questions MCQ Test | CA-CPT Question Paper June - 2013 (Session 1)

CA-CPT Question Paper June - 2013 (Session 1) for CA Foundation 2022 is part of CA Foundation preparation. The CA-CPT Question Paper June - 2013 (Session 1) questions and answers have been prepared according to the CA Foundation exam syllabus.The CA-CPT Question Paper June - 2013 (Session 1) MCQs are made for CA Foundation 2022 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for CA-CPT Question Paper June - 2013 (Session 1) below.
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CA-CPT Question Paper June - 2013 (Session 1) - Question 1

Bill is drawn by Mr.Mohan on Mr. Mahesh on 30th January 2012 for one Month, then due date of the bill is_________

CA-CPT Question Paper June - 2013 (Session 1) - Question 2

If goods are sold but not delivered to the customer, they will be included in _____​

Detailed Solution for CA-CPT Question Paper June - 2013 (Session 1) - Question 2

Once the property (ownership) in goods has been transferred to the buyer, it can be recognised as sales. Hence, goods sold but not delivered can be recognised as Sales as the ownership has been transferred. Possession (delivery) is not a criteria for recognition of sales. It is only the ownership which matters.

CA-CPT Question Paper June - 2013 (Session 1) - Question 3

Unclaimed dividend is shown under ______

CA-CPT Question Paper June - 2013 (Session 1) - Question 4

Proprietor used a rented building both forbusiness purpose and as well as residenceequally. The rent paid during the year for thebuilding was Rs.1,32,000 debited to rentexpenses A/c in the books of business. Onemonth rent is still outstanding. Liability of thebusiness for rent outstanding ___

CA-CPT Question Paper June - 2013 (Session 1) - Question 5

Which of the following will not affect trial balance?

CA-CPT Question Paper June - 2013 (Session 1) - Question 6

Which of the following is an event ?

CA-CPT Question Paper June - 2013 (Session 1) - Question 7

The normal rate of return is 20%. The total capital employed is Rs.6,00,000. The average profit is Rs.1,50,000. Calculate goodwill as the basis of 3 years purchase of super profits.

CA-CPT Question Paper June - 2013 (Session 1) - Question 8

Which of the following is not a contingentliability?

CA-CPT Question Paper June - 2013 (Session 1) - Question 9

Opening stock 400 units @ Rs.20 each. Purchases during the year 200 units @Rs.25each. Issues – 250 units In LIFO Method, closing stock will be?

CA-CPT Question Paper June - 2013 (Session 1) - Question 10

Which of the following concept shows difference between amount of receipt andright to receive an amount?

CA-CPT Question Paper June - 2013 (Session 1) - Question 11

Balance in JLP A/c of partners is________

CA-CPT Question Paper June - 2013 (Session 1) - Question 12

Goods sent on sale or return basis at a cost of Rs.1 lakh. In that, 50% of goods were accepted and 30% of the goods were returned. The remaining stock was held with customer and the period not yet expired. Then closing stockwill be ________

CA-CPT Question Paper June - 2013 (Session 1) - Question 13

Goods costing Rs.5,000 will be distributed as wages for Rs.5,000. Market price is Rs.6,000.Journal entry is _______

CA-CPT Question Paper June - 2013 (Session 1) - Question 14

The long term assets that have no physical existence but are rights that have value is known as

CA-CPT Question Paper June - 2013 (Session 1) - Question 15

Which of the following is true?

CA-CPT Question Paper June - 2013 (Session 1) - Question 16

Proprietor’s personal expenditure notrecorded in the books of accounts due to_____

CA-CPT Question Paper June - 2013 (Session 1) - Question 17

The debenture amount Rs.2,000 issued as collecteral security required the following Journal entry

CA-CPT Question Paper June - 2013 (Session 1) - Question 18

Which of the following is false with respect to debentures?

CA-CPT Question Paper June - 2013 (Session 1) - Question 19

Which of the following are not taken into consideration while calculating closing stock

CA-CPT Question Paper June - 2013 (Session 1) - Question 20

Cost of machinery Rs.60,000. They charged depreciation @ 20% on SLM method. In 2nd year they decided to change method and adopt WDV method @ 20%. If machine was sold for Rs.30,000 at the end of 3rd year. Calculate the amount of loss.

CA-CPT Question Paper June - 2013 (Session 1) - Question 21

A company issued 10,000 shares out of 14,000 applied. Mr. A got 300 shares on pro-rata basis.How many shares he would have applied?

CA-CPT Question Paper June - 2013 (Session 1) - Question 22

Tree limited forfeited 500 shares of Rs.20 each issued at 5% discount, for non payment of allotment and final call of Rs.9 and Rs.5 respectively. Amount credited to share forfeiture A/c will be

CA-CPT Question Paper June - 2013 (Session 1) - Question 23

ABC partners, each partner has an individual life policy of Rs.50000 on 31st August, partner ‘B’ died and the surrender value of each policy at death is Rs.2,000. Share of ‘B’ partner is(equal sharing)

CA-CPT Question Paper June - 2013 (Session 1) - Question 24

Rohan & Sohan are partners in a firm sharing profits & losses in the ratio of 3 : 1. A partner Mohan is admitted and he brought Rs.40,000 as goodwill. New profit sharing ratio of all the partners is equal. The amount of goodwill to be shared by old partners is

CA-CPT Question Paper June - 2013 (Session 1) - Question 25

The directors of E limited made the final call of Rs.50 per share on 1st August 2012 indicating the last date of payment of call money to be 31st August. Mr. White holding 5000 shares paid the call money on October 15th 2012. If the company adopts table ‘A’, the amount of interest on calls-in-arrears to be paid by Mr. White would be _________

CA-CPT Question Paper June - 2013 (Session 1) - Question 26

The accounting equation asset = capital + liabilities, which of the following is true. Ram has started business with 5,50,000 and has purchased goods worth 1,50,000 on credit

CA-CPT Question Paper June - 2013 (Session 1) - Question 27

A & B are sharing profits in the ratio 2 : 1 . C is admitted as a partner for 1/4th of the share of profits, 3/4th part of his share from A and 1/4th of his share from the B. The new profit sharing ratio is________

CA-CPT Question Paper June - 2013 (Session 1) - Question 28

Delcredre commission will be given for ______

CA-CPT Question Paper June - 2013 (Session 1) - Question 29

What is the principle of nominal A/c?

CA-CPT Question Paper June - 2013 (Session 1) - Question 30

X purchased goods on 90 days credit from Y of worth Rs.20,000. Y has given a trade discount of Rs.1,000 on the same. He also allowed a cash discount of Rs.500, if payment is made within 30 days. X availed cash discount and also paid the dues of Y. At the end, goods purchased from Y remained unsold and included in the stock. What is the amount of stock.

CA-CPT Question Paper June - 2013 (Session 1) - Question 31

Opening and closing balances of debtors are 30,000 & 40,000 respectively. Cash collected from debtors 2,40,000. Discount allowed is 15,000 for prompt payment. Bad debts Rs.10,000. The total goods sold on credit are______

CA-CPT Question Paper June - 2013 (Session 1) - Question 32

Goods sent on consignment at a cost of Rs.50,000. 1/4th lost in transit and claim received Rs.10,000. The amount of abnormal loss to be transferred to general P & L A/c is______

CA-CPT Question Paper June - 2013 (Session 1) - Question 33

All the enterprises should follow the same method of accounting policies for comparability of accounts is due to _______

CA-CPT Question Paper June - 2013 (Session 1) - Question 34

The Piston & Rings are arranged for increasing fuel efficiency. This is a ______

CA-CPT Question Paper June - 2013 (Session 1) - Question 35

Over Draft balance as per Cash Book of ‘X’ Rs.20,500. Direct remittance of his customer is Rs.50,000 and ‘X’ was not aware that Rs.25,000 cheque was deposited, returned unpaid and he was yet to be informed. Balance as per Pass Book is_________

CA-CPT Question Paper June - 2013 (Session 1) - Question 36

Which of the following are accounting policies

CA-CPT Question Paper June - 2013 (Session 1) - Question 37

Goods costing Rs.4,000 having normal sales value of Rs.6,000 were destroyed by fire. The scrap value of Rs.400 was taken over by insurance company. Insurance company accepted a final claim of Rs.2,700. Whatamount of loss by fire will be transferred to P& L A/c.?

CA-CPT Question Paper June - 2013 (Session 1) - Question 38

A & B entered into Joint Venture to share Profit & Losses equally. A supplied goods worth Rs.7,000 and incurred expenses of Rs.300. B sold the goods for Rs.10,000 and incurred expenses of Rs.500. What is the final remittance by B to A?

CA-CPT Question Paper June - 2013 (Session 1) - Question 39

A, B, C are partners sharing profits & losses equally and A paid liability of Rs.10,000 of the firm, from his private property, then the entry in the books of firm is_________

CA-CPT Question Paper June - 2013 (Session 1) - Question 40

Where is “Loss on issue of shares” is shown infinancial statements?

CA-CPT Question Paper June - 2013 (Session 1) - Question 41

‘A Limited’ purchased goods of Rs.10,00,000, and sold 90% of goods and remaining goods market value is Rs.90,000, and closing stock is 10%, but he recorded Rs.90,000 and not Rs.1,00,000. Which concept does he follows:-

CA-CPT Question Paper June - 2013 (Session 1) - Question 42

On scrutiny, an accountant found that:

i. Bad debts recovery of Rs.500 was credited to debtors A/c wrongly

ii. Bank charges of Rs.50 was wrongly entered twice in Cash Book.

iii. Purchase returns of Rs.100 was omitted tobe entered in the book of A/c’s.

What is the impact on profit after rectification?

CA-CPT Question Paper June - 2013 (Session 1) - Question 43

Mr. A started business with a capital of Rs.10 lakhs as a cloth merchant. During the year he purchased goods worth Rs.7,10,000 and sales during the year was Rs.8,42,000. He pays shop rent of Rs.20,000 for the year 2011-12, and other expenses Rs.75,000. Closing stock at the end of the year is Rs.45,000. What is gross profit?

CA-CPT Question Paper June - 2013 (Session 1) - Question 44

A machine is purchased for Rs.5,00,000. It’s estimated working life is 10,000 hours, the Scrap value is Rs.1,00,000. Anticipated pattern of working hours are as follows:-

Depreciation for the 3rd year is_________

CA-CPT Question Paper June - 2013 (Session 1) - Question 45

Calculate the amount of salary debited to P & L A/c for the year ending 31-03-13.

Salary outstanding as on 31-03-12 – Rs.25,000

Salary outstanding as on 31-03-13 – Rs.10,000

Prepaid Salary as on 31-03-12 – Rs.10,000

Salary paid in cash during the year – Rs.3,00,000

CA-CPT Question Paper June - 2013 (Session 1) - Question 46

On 1-4-10 machine purchased for Rs.1,00,000 and 1st October another machine purchased for Rs.50,000. Depreciation on the machinery is charged by SLM @ 10%. What is the amount that should be shown in the books at the end of 31st March 2012.

CA-CPT Question Paper June - 2013 (Session 1) - Question 47

On dissolution of a firm all assets are transferred to realization account at ________

CA-CPT Question Paper June - 2013 (Session 1) - Question 48

Which of the following is revenue expenditure?

CA-CPT Question Paper June - 2013 (Session 1) - Question 49

The dealer of construction materials due to unknown reason took physical stock of inventories on 11th April. The cost of stock was Rs.4,20,000 (including goods returned on consignment basis). The dealer received goods cost Rs.1,00,000 in March 2011 for sale on consignment basis. 20% goods have been sold in March, 60% of stock in between 1st – 10th April. Find cost of stock on 31-3-11.

CA-CPT Question Paper June - 2013 (Session 1) - Question 50

Sold old furniture valued Rs.2,000 to Sona was recorded as sales, the book value of furniture was Rs.2,500. What will be the rectifying entry?

CA-CPT Question Paper June - 2013 (Session 1) - Question 51

Opening stock - 1,50,000

Cash sales - 1,20,000

Credit sales - 2,30,000

Closing stock - Nil

Selling price - 125% of cost, then purchases =?

CA-CPT Question Paper June - 2013 (Session 1) - Question 52

Find closing stock value __________

Units             Cost              Market value

  70               5000                    2000

  20               3000                    6000

  30               7000                    9000

 

CA-CPT Question Paper June - 2013 (Session 1) - Question 53

Goods worth Rs.10,000 was destroyed by fire and insurance company admitted the claim of 60%. The journal entry

CA-CPT Question Paper June - 2013 (Session 1) - Question 54

600 shares allotted to Mr. X, on which Rs.100 each called up, and Rs.50 paid up were forfeited and reissued for Rs.70 each as fully paid up. Amount transferred to capital reserve A/c is

CA-CPT Question Paper June - 2013 (Session 1) - Question 55

While preparing B.R.S with balance as per cashbook which of the following will not be added

CA-CPT Question Paper June - 2013 (Session 1) - Question 56

If preference shares are redeemed out of thefresh issue of Equity shares; which account willbe credited?

CA-CPT Question Paper June - 2013 (Session 1) - Question 57

ABC Ltd has issued a cheque for Rs.3,50,000. The accountant by error has recorded the payment at Rs.35,000. This error can be identified on preparing _______

CA-CPT Question Paper June - 2013 (Session 1) - Question 58

Z Ltd. Issued 1,50,000 shares of Rs.100 each at a discount of 10%. Mr. Gopi to whom 300 shares were allotted, failed to pay the final call of Rs.30 per share and hence all the shares are forfeited. What amount is transferred to shares Forfeiture A/c ?

CA-CPT Question Paper June - 2013 (Session 1) - Question 59

For the financial year 20011-12, the gross profit was Rs.1,75,000. During the year Carriage inward Rs.15,000, Personal expenses of proprietor Rs.75,000 and Carriage outward Rs.17,500. Bad debts for the year were Rs.12,000. The net profit earned for the year 2011-12 would be:

CA-CPT Question Paper June - 2013 (Session 1) - Question 60

C of Chennai sent goods costing Rs.6,00,000 to Delhi. These goods were to be sold at cost plus 33 1/3%. The consignee sent advance to consigner as a % of sales value and A sent accordingly Rs.4,80,000. What is the percentage of such advance on sales value?

CA-CPT Question Paper June - 2013 (Session 1) - Question 61

_____ arises obligations where no contract isoriginally entered.

CA-CPT Question Paper June - 2013 (Session 1) - Question 62

______ is good in substance, but suffers fromtechnical defect like Non – Registration.

CA-CPT Question Paper June - 2013 (Session 1) - Question 63

What are the essential elements of validcontract

CA-CPT Question Paper June - 2013 (Session 1) - Question 64

An offer is made with an intention to havenegotiation from other party. This type of offeris ____

CA-CPT Question Paper June - 2013 (Session 1) - Question 65

M/S Law book Company offered books only toICAI council members. This offer generallyknown as:

CA-CPT Question Paper June - 2013 (Session 1) - Question 66

Which of the following is false?

CA-CPT Question Paper June - 2013 (Session 1) - Question 67

Which of the following are validconsiderations?

CA-CPT Question Paper June - 2013 (Session 1) - Question 68

A minor get injured his left leg in football match. He engaged a doctor for treatment of leg. The doctor’s claim for his services is under Indian Contract Act 1872 _____

CA-CPT Question Paper June - 2013 (Session 1) - Question 69

An Intentional misrepresentation will amount to _____

CA-CPT Question Paper June - 2013 (Session 1) - Question 70

Obtaining the consent on the basis of a relation subsisting between two persons where one party is able to dominate the will of another is called _______

CA-CPT Question Paper June - 2013 (Session 1) - Question 71

Which of the following will stand under fiduciary relationship as per Indian contract Act, 1872?

CA-CPT Question Paper June - 2013 (Session 1) - Question 72

_____ contracts are enforceable by futureevents.

CA-CPT Question Paper June - 2013 (Session 1) - Question 73

Execution of a bond requiring employees leaving the organisation before the expiry of the term of service to pay compensation to the employee is considered as:

CA-CPT Question Paper June - 2013 (Session 1) - Question 74

As per the provisions of Indian Contract Act, 1872 the original contract need not be performed in case of _____

CA-CPT Question Paper June - 2013 (Session 1) - Question 75

Change in some or all terms of the contract is______

CA-CPT Question Paper June - 2013 (Session 1) - Question 76

A, B, C were partners in a partnership firm. “A paid the liability of the firm without having authority. What the other partners will do?

CA-CPT Question Paper June - 2013 (Session 1) - Question 77

Retiring Partner will be liable till _____

CA-CPT Question Paper June - 2013 (Session 1) - Question 78

Sharing of profits is __evidence of partnership.

CA-CPT Question Paper June - 2013 (Session 1) - Question 79

Partners should attend ______ to his duties.

CA-CPT Question Paper June - 2013 (Session 1) - Question 80

A retiring partner is entitled to profits of thefirm?

CA-CPT Question Paper June - 2013 (Session 1) - Question 81

A was an employee in a partnership firm with a salary of Rs.50,000 per month and he will get a share of 30% in profits if the profits of the firm exceed Rs.5 lakhs. Now ‘A’ is called _____

CA-CPT Question Paper June - 2013 (Session 1) - Question 82

The person who represents himself as a partner in a firm is called ____

CA-CPT Question Paper June - 2013 (Session 1) - Question 83

On which of the following grounds all or anyone of the partner can apply to the court for dissolution,

CA-CPT Question Paper June - 2013 (Session 1) - Question 84

When a partner of a firm is adjudicated as an insolvent, he ceases to be a partner as_______

CA-CPT Question Paper June - 2013 (Session 1) - Question 85

Partnership at will means

CA-CPT Question Paper June - 2013 (Session 1) - Question 86

The loss arising out of partners insolvency shall be borne by ________ according to Garner Vs.Murray case

CA-CPT Question Paper June - 2013 (Session 1) - Question 87

Partnership deed is also called as

CA-CPT Question Paper June - 2013 (Session 1) - Question 88

A partnership firm cannot exceed the maximum number other than banking company:-

CA-CPT Question Paper June - 2013 (Session 1) - Question 89

What are the essential elements of contract of sale?

CA-CPT Question Paper June - 2013 (Session 1) - Question 90

By transferring the property, the rights andliabilities will transfer to _____

CA-CPT Question Paper June - 2013 (Session 1) - Question 91

Auction Sale completes by ______

CA-CPT Question Paper June - 2013 (Session 1) - Question 92

A document issued by railway company acknowledging receipt of goods is known as __

CA-CPT Question Paper June - 2013 (Session 1) - Question 93

Giving document of title to goods is which typeof delivery?

CA-CPT Question Paper June - 2013 (Session 1) - Question 94

Merchantable Quality of goods means ___

CA-CPT Question Paper June - 2013 (Session 1) - Question 95

The keys of warehouse where goods are storedis handed over to the buyer. It is called ____delivery.

CA-CPT Question Paper June - 2013 (Session 1) - Question 96

M sold goods to B. The payment was to be done after one month. B did not made payment. The right of lien can be exercised by M When goods are____

CA-CPT Question Paper June - 2013 (Session 1) - Question 97

The property of goods will be transferred to the buyer at the time where total payment is made.

CA-CPT Question Paper June - 2013 (Session 1) - Question 98

An agreement made between two parties to pay consideration in future and in execution of sale deed is known as______

CA-CPT Question Paper June - 2013 (Session 1) - Question 99

Unpaid seller sells goods to the new buyer who was in possession of the goods. The new buyer____

CA-CPT Question Paper June - 2013 (Session 1) - Question 100

The implied warranties as per sale of goods act includes_____

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