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CA - CPT ICAI Model Test Paper - 6


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200 Questions MCQ Test | CA - CPT ICAI Model Test Paper - 6

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CA - CPT ICAI Model Test Paper - 6 - Question 1

Transactions between owner and business are recorded as per

CA - CPT ICAI Model Test Paper - 6 - Question 2

Which of the following items is an asset?

CA - CPT ICAI Model Test Paper - 6 - Question 3

The information provided in the annual financial statements of an enterprise pertain to:

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

Which of the following is not a transaction?

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

All the following statements are objectives of accounting except

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

Payment of personal expenses of the owners of the business need to be recorded as:

CA - CPT ICAI Model Test Paper - 6 - Question 7

The purchases Journal records

CA - CPT ICAI Model Test Paper - 6 - Question 8

Which of the following lists the balance and the title of accounts given in the ledger, on a given date?

CA - CPT ICAI Model Test Paper - 6 - Question 9

Under straight line method, depreciation is calculated on

CA - CPT ICAI Model Test Paper - 6 - Question 10

If the date of maturity of a bill is a holiday, then the bill will mature on:

CA - CPT ICAI Model Test Paper - 6 - Question 11

A promissory note is drawn by _______ in favour of _______ .

CA - CPT ICAI Model Test Paper - 6 - Question 12

_______ principle requires that the same accounting method should be used from one accounting period to the next.

CA - CPT ICAI Model Test Paper - 6 - Question 13

The left side of an account is known as _______ and the right side as _______.

CA - CPT ICAI Model Test Paper - 6 - Question 14

In double entry book keeping system, every transaction affects at least ______account(s).

CA - CPT ICAI Model Test Paper - 6 - Question 15

All expenses and _______ accounts appearing in the trial balance are transferred either to the trading account or profit and loss account.

CA - CPT ICAI Model Test Paper - 6 - Question 16

Scrap value of an asset means the amount that it can fetch on sale at the _______ of its useful life.

CA - CPT ICAI Model Test Paper - 6 - Question 17

The petty cashier generally work on_______ system.

CA - CPT ICAI Model Test Paper - 6 - Question 18

Proforma invoice is a statement of information in the form of invoice prepared by the _______ to appraise the _______ about certain essential particulars of the goods.

CA - CPT ICAI Model Test Paper - 6 - Question 19

Carriage charges paid for a new plant purchased if debited to carriage account would affect

CA - CPT ICAI Model Test Paper - 6 - Question 20

The amount due to the retiring partner on account of goodwill is debited to the continuing partners in their _______.

CA - CPT ICAI Model Test Paper - 6 - Question 21

Mr. A, the owner of M/s Apex Ltd. withdrew some goods from the business for his personal use. The accountant of the firm recorded this transaction on the basis of selling price of goods.  He justifies his contention on the basis that business and the proprietor are two different entities as per business entity concept and therefore drawings should be charged at the same price on which the goods are sold to the outside customers.  However, Mr. A emphasizes that he should be charged with only the cost price of the goods withdrawn by him.

At which price, the drawings should be recorded?

CA - CPT ICAI Model Test Paper - 6 - Question 22

The substance of the transactions gets preference over legal position. The transactions and events recorded in the books of account and presented in the financial statements, should be governed by the substance of such transactions and not merely by their legal form as per the concept of

CA - CPT ICAI Model Test Paper - 6 - Question 23

A and B are partners sharing profits in the ratio of 3:2.  They admit C as a new partner for 3/10th share, which he acquires 2/10 from A and 1/10 from B. The new profit sharing ratio of A, B and C is

CA - CPT ICAI Model Test Paper - 6 - Question 24

The profits for the last four years are given as follows:

Year      Rs.
2006      40,000
2007      50,000
2008      60,000
2009      50,000
The value of goodwill on the basis of three years’ purchase of average profits based on the last four years will be

CA - CPT ICAI Model Test Paper - 6 - Question 25

G Ltd. acquired assets worth Rs. 75,000 from H Ltd. by issue of shares of Rs.10 each at a premium of  Rs. 5. The number of shares to be issued by G Ltd. to settle the purchase consideration will be

CA - CPT ICAI Model Test Paper - 6 - Question 26

A and B are partners in a firm sharing profits in the ratio of 3:2.  They admit C as the new partner for 1/6th share in the profits.   The firm’s goodwill was valued at Rs.1,50,000.  For adjustment of goodwill, C’s account will be debited by

CA - CPT ICAI Model Test Paper - 6 - Question 27

Following figures have been taken from the trial balance of a trader;

Purchases                  Rs. 30,000
Purchase Returns      Rs.  5,000
Sales                          Rs. 40,000
Sales Returns             Rs.  5,000

The amount of profit will be

CA - CPT ICAI Model Test Paper - 6 - Question 28

The balance of furniture and fixtures as on 1st April, 2009 was Rs. 10,000.  Furniture of Rs.5,000 was purchased on 1st October, 2009.  Depreciation is charged @ 10% p.a. on W.D.V. method.  The depreciation for the year ended 31st March, 2010 will be _____

CA - CPT ICAI Model Test Paper - 6 - Question 29

Mr. Yatharth consigned to Mr. Ramesh 100 cases of tea costing Rs. 100 per case.  He paid Rs. 1,000 as freight and cartage.  Mr. Ramesh could take delivery of only 90 cases since 10 cases were loss in transit. The amount of abnormal loss will be _____

CA - CPT ICAI Model Test Paper - 6 - Question 30

Mr. Sharma holding 1,000 equity shares of Rs.10 each, issued at par, could pay Rs.3.50 on application, but could not pay the allotment money of Rs. 2.5 per share and his shares were forfeited.  In the books of the company, shares forfeited account will be credited by ________

CA - CPT ICAI Model Test Paper - 6 - Question 31

Omega Ltd. purchased assets of Alfa Ltd. for purchase consideration of Rs.60 lacs.  It was decided that the purchase consideration will be discharged by issue of 10% debentures of Rs.1,000 each at a premium of 20%.  The number of debentures issued will be ________

CA - CPT ICAI Model Test Paper - 6 - Question 32

Asha Deep Company Ltd. issued 1,00,000, 7% debentures of Rs.100 each at a discount of 4% redeemable after 5 years at a premium of 6%.  Loss on issue of debentures is ________

CA - CPT ICAI Model Test Paper - 6 - Question 33

Om, Jai and Jagdish are par tners sharing profits and losses in the ratio of 5: 3 :2.  Om retires and goodwill is valued at Rs. 50,000. New profit sharing ratio of Jai and Jagdish will be equal.  For the adjustment of goodwill, Jai and Jagdish’s capital accounts will be debited by:

CA - CPT ICAI Model Test Paper - 6 - Question 34

The date of maturity of bill is 10th October, 2009.  The Government of India suddenly declared 10th October, 2009 as the holiday under the Negotiable Instruments Act, then the bill will mature on _________

CA - CPT ICAI Model Test Paper - 6 - Question 35

A Ltd. Company purchase machinery on 1st April, 2007 for Rs. 1,00,000. The depreciation on this machinery is charged @ 10% per annum on straight line method.  On 30th September, 2009 machinery is sold for Rs.89,000.  The profit or loss on sale of such machinery is:

CA - CPT ICAI Model Test Paper - 6 - Question 36

Liquid or Quick assets =

CA - CPT ICAI Model Test Paper - 6 - Question 37

A promissory note for Rs. 5,000 in favour of Mohan settled by sending him Tania’s acceptance for Rs. 5,000. The required Journal entry will be

CA - CPT ICAI Model Test Paper - 6 - Question 38

Shyam prepared a trial balance for his factory on 31st March, 2010. The debit total of the trial balance was short by Rs. 500. He transferred the deficiency to a suspense account. In April, 2010 after a close examination, he found that the purchases day book for September, 2009 was undercast by Rs.500. The necessary Journal entry to rectify the error will be _________ assuming Final Accounts are not prepared.

CA - CPT ICAI Model Test Paper - 6 - Question 39

The following particulars relate to the business of Mohan on March 31, 2010.
Balance as shown by the cash book                        Rs. 10, 000
Cheques issued but not presented for payment       Rs. 4,000
Cheque deposited but not yet collected                   Rs. 3,000

Balance as shown by the Bank pass book will be

CA - CPT ICAI Model Test Paper - 6 - Question 40

Which of the following errors will affect the trial balance?

CA - CPT ICAI Model Test Paper - 6 - Question 41

A’s acceptance to B for Rs . 10 , 000 renewed for 2 months on the condition that Rs. 4,000 be paid in cash immediately and the remaining amount will carry interest @ 12% p.a. The amount of interest will be _________

CA - CPT ICAI Model Test Paper - 6 - Question 42

On 1.1.2010, a machine costing Rs. 10,000 and a piece of furniture costing Rs.20,000 was purchased. Depreciation is provided @ 5% p.a. on furniture and 10% per annum on machine.  The depreciation for the year ended  31st March, 2010 should be:

CA - CPT ICAI Model Test Paper - 6 - Question 43

On 1st February, 2010, a loan of Rs.10,000 was given @ 12% per annum.  Interest was received for 3 months from February to April in April, 2010.  In the financial statements of the year ended 31st March, 2010 amount of accrued interest  should be:

CA - CPT ICAI Model Test Paper - 6 - Question 44

Goods costing Rs. 4,80,000 were sent on consignment basis.  Goods are invoiced at 125% of the cost price.  The invoice price and the loading will be:

CA - CPT ICAI Model Test Paper - 6 - Question 45

Mr. A sent 250 units costing Rs. 10,000 each to Mr. B. Mr. B sold 150 units @ Rs. 14,200 per unit on credit and 75 units @ Rs. 14,000 for cash.  Mr. B is entitled to a commission Rs.500 per unit.  The amount of commission will be:

CA - CPT ICAI Model Test Paper - 6 - Question 46

Ram and Shyam enter into a joint venture. B oth of them deposited Rs .65,000 and Rs.32,500 respectively into a joint venture. Goods were purchased for Rs.75,000 and expenses amounting Rs.10,950 were incurred. Goods sold for Rs.90,000 and goods unsold were taken over by Ram at an agreed value of Rs.2,700.  The profit on joint venture is:

CA - CPT ICAI Model Test Paper - 6 - Question 47

On 1st January Shilpa owes Rs.10,000 and accepts a 3 months bill for the amount.  On the date of maturity Shilpa, not being able to honour the bill. She paid Rs.4,000 cash and requested to draw another bill for three months for the balance amount with interest @ 15% per annum.  The amount of interest should be

CA - CPT ICAI Model Test Paper - 6 - Question 48

A draws a bill of Rs.10,000 on B on 23rd December, 2009 for one month. The bill is accepted on 25th December, 2009 by B.  The maturity date of the bill will be:

CA - CPT ICAI Model Test Paper - 6 - Question 49

On 1st January, 2010, Vimal sold goods worth Rs.20,000 to Renu and drew a bill on Renu for 3 months. Renu accepted the bill and returned it to Vimal who discounted the bill with bank on 4th February, 2010 @ 15% per annum.  The discounting charges will be:

CA - CPT ICAI Model Test Paper - 6 - Question 50

X and Y are partners sharing profit and losses in the ratio of 2:1. On 1st January, 2009, Z is admitted with 1/4th share in profits with guaranteed amount of Rs. 25,000.  The profits for the year ended 31st December, 2009 amounting to Rs. 76,000.  The share of Y in the profits should be:

CA - CPT ICAI Model Test Paper - 6 - Question 51

Dheeraj and Gopal are partners in a firm with capitals of Rs. 5,00,000 each. They admit Deepak as a partner with ¼th share in the profits of the firm. Deepak bring Rs. 8,00,000 as his share of capital. The profit and loss account showed a credit balance of Rs. 4,00,000 as on the date of his admission. The value of hidden goodwill will be

CA - CPT ICAI Model Test Paper - 6 - Question 52

Rent due for the month of March will appear___________ in the cash book

CA - CPT ICAI Model Test Paper - 6 - Question 53

Alfa Ltd. issued 20, 000, 8% debentures of Rs.10 each at par. The debentures are redeemable at a premium of 20% after 5 years.  The amount of loss on redemption of debentures should be:

CA - CPT ICAI Model Test Paper - 6 - Question 54

Gama Ltd. issued 10,000, 10% debentures of Rs.100 each at a discount of 10%. The entire amount is payable on application. Application were received for 12,000 debentures. The allotment of debentures was made on 10th October, 2009. The amount which should be credited to the debentures account on 10th October, 2009 will be:

CA - CPT ICAI Model Test Paper - 6 - Question 55

Indigo Ltd. had 9,000, 10% redeemable preference shares of Rs. 10 each, fully paid up. The company decided to redeem these preference shares at par by the issue of sufficient number of equity shares of Rs.10 each fully paid up at a discount of 10%. The number of equity shares issued should be:

CA - CPT ICAI Model Test Paper - 6 - Question 56

A firm dealing in cloth has 15,000 meters of cloth on April 1, 2009 valued at Rs.1,50,000.The firm purchased 20,000 meters @ Rs.12 per meter during the year ending 31st March, 2010 and sold 30,000 meters @ Rs.25 per meter during the same period.  As per LIFO, the closing inventory will be valued at:

CA - CPT ICAI Model Test Paper - 6 - Question 57

On January 1, 2010 Victory Ltd., purchased a second hand machinery for Rs. 50,000 and spend Rs. 2,000 as shipping and forwarding charges, Rs. 1,000 as import duty, Rs.1,000 as carriage inwards, Rs.500 is repair charges, Rs. 200 as installation charges, Rs.400 as brokerage of the middle man and Rs. 100 for an iron pad.  Total cost of machinery is

CA - CPT ICAI Model Test Paper - 6 - Question 58

On 1-4-2009, Ram invested Rs.1,00,000 in a business.  Interest on capital is to be allowed @ 12% per annum.  Amount of interest to be charged to P & L Account for the year 2009-2010 is:

CA - CPT ICAI Model Test Paper - 6 - Question 59

Goods costing Rs. 1,20,000 were sent on consignment basis. These goods are invoiced to give a gross margin of 20% on invoice price.  The amount of loading is:

CA - CPT ICAI Model Test Paper - 6 - Question 60

Mohan’s trial balance contains the following information:
Discount received                                          Rs. 1,000
Provision for discount on trade payables       Rs. 1, 600

It is desired to maintain a provision for discount on trade payables at Rs.1,100.  The amount to be credited to P & L Account is :

CA - CPT ICAI Model Test Paper - 6 - Question 61

A mate’s receipt

CA - CPT ICAI Model Test Paper - 6 - Question 62

An offer to perform one’s obligations under a contract is called as :

CA - CPT ICAI Model Test Paper - 6 - Question 63

A contract was entered before 1st September, 1872 is governed by The Indian Contract Act, 1872

CA - CPT ICAI Model Test Paper - 6 - Question 64

A share in a partnership:

CA - CPT ICAI Model Test Paper - 6 - Question 65

Which of the following is not correct?

CA - CPT ICAI Model Test Paper - 6 - Question 66

In case of sale

CA - CPT ICAI Model Test Paper - 6 - Question 67

Which one of the following is not a contract?

CA - CPT ICAI Model Test Paper - 6 - Question 68

Which of the statement is incorrect?

CA - CPT ICAI Model Test Paper - 6 - Question 69

The difference between contingent contract and wagering agreements are as follows:

CA - CPT ICAI Model Test Paper - 6 - Question 70

An agreement made without consideration is valid under the Indian Contract Act, 1872 if

CA - CPT ICAI Model Test Paper - 6 - Question 71

Which of the following is not correct?

CA - CPT ICAI Model Test Paper - 6 - Question 72

Which of the following is not correct?

CA - CPT ICAI Model Test Paper - 6 - Question 73

Novation means:

CA - CPT ICAI Model Test Paper - 6 - Question 74

Quasi-contract rest upon the maxim:

CA - CPT ICAI Model Test Paper - 6 - Question 75

Registration of a partnership is complete

CA - CPT ICAI Model Test Paper - 6 - Question 76

Just and equitable grounds for the dissolution of the firm :

CA - CPT ICAI Model Test Paper - 6 - Question 77

A student was motivated by his teacher to sell his car (value being Rs. 10,00,000/-) for Rs. 5,00,000/-. The student sold the same at the desired price of the teacher. The student can sue the teacher on the ground of :

CA - CPT ICAI Model Test Paper - 6 - Question 78

Types of partners includes:

CA - CPT ICAI Model Test Paper - 6 - Question 79

‘Price’ under the Sale of Goods Act, 1930 means

CA - CPT ICAI Model Test Paper - 6 - Question 80

Goods that are identified and agreed upon at the time of contract of sale are known as ________.

CA - CPT ICAI Model Test Paper - 6 - Question 81

A contract in which only one party has to fulfill his obligation at the time of the formation of the contract, the other party having fulfilled his obligation at the time of the contract or before the contract comes into existence is known as ________.

CA - CPT ICAI Model Test Paper - 6 - Question 82

An offer made to the public in general which anyone can accept and do the desired act is ________.

CA - CPT ICAI Model Test Paper - 6 - Question 83

In case of an agreement to sell, subsequent loss or destruction of the goo is the liability of _______ .

CA - CPT ICAI Model Test Paper - 6 - Question 84

An auction sale is an example of _________.

CA - CPT ICAI Model Test Paper - 6 - Question 85

Agreement for the creation of monopolies__________.

CA - CPT ICAI Model Test Paper - 6 - Question 86

Quasi – contracts arise __________.

CA - CPT ICAI Model Test Paper - 6 - Question 87

Wagering agreements are

CA - CPT ICAI Model Test Paper - 6 - Question 88

A partner entitled to share the profits only without being liable for the losses :

CA - CPT ICAI Model Test Paper - 6 - Question 89

Goods that are defined only by description and not identified and agreed upon at the time of contract of sale are known as__________.

CA - CPT ICAI Model Test Paper - 6 - Question 90

Delivery by acknowledgment is_________.

CA - CPT ICAI Model Test Paper - 6 - Question 91

In case of a sale the position of a buyer is that of _________.

CA - CPT ICAI Model Test Paper - 6 - Question 92

Rights of an unpaid seller include_________.

CA - CPT ICAI Model Test Paper - 6 - Question 93

Registration of a partnership firm is __________.

CA - CPT ICAI Model Test Paper - 6 - Question 94

Death of a partner ordinarily leads to _________.

CA - CPT ICAI Model Test Paper - 6 - Question 95

A new partner is held liable for all acts of the firm done __________.

CA - CPT ICAI Model Test Paper - 6 - Question 96

One of the essential elements of a partnership is agreement _________.

CA - CPT ICAI Model Test Paper - 6 - Question 97

A person is deemed to be in a position to dominate the will of the other when he __________.

CA - CPT ICAI Model Test Paper - 6 - Question 98

As per the I ndian Partners hip Act, 1 93 2 a partner may transfer his interest in the firm________.

CA - CPT ICAI Model Test Paper - 6 - Question 99

D P Tyre Co. Ltd. sold tyres to a dealer S, who sold those to D, a sub-dealer on the condition that those tyres would not be sold at a price lower than the list price fixed by D P Tyre Co.Ltd. and if the tyres were sold at a price lower than the list price, a penalty of $ 2 for every tyre sold below the list price would be recovered as damages. D sold five tyres below the list price. D P Tyre Co. Ltd. filed a suit against S. Is D P Tyre Co. Ltd. entitled to maintain the suit?

CA - CPT ICAI Model Test Paper - 6 - Question 100

A, B and C are partners in a firm. B was murdered by D, who wanted to become a partner of the firm, but B has raised objections to it. The Partnership Deed contains a provision that the firm would not be dissolved after the death of any partner. Which of the following is correct?

CA - CPT ICAI Model Test Paper - 6 - Question 101

The law of consumer surplus is based on :

CA - CPT ICAI Model Test Paper - 6 - Question 102

Supply of a commodity is a:

CA - CPT ICAI Model Test Paper - 6 - Question 103

If two goods were perfect substitutes of each other, it necessarily follows that

CA - CPT ICAI Model Test Paper - 6 - Question 104

The MC curve cuts the AVC and ATC curves

CA - CPT ICAI Model Test Paper - 6 - Question 105

In general, most of the production functions measure

CA - CPT ICAI Model Test Paper - 6 - Question 106

Which of the following market situations explains marginal cost equal to price for attaining equilibrium?

CA - CPT ICAI Model Test Paper - 6 - Question 107

The period of time in which the plant capacity can be varied is known as

CA - CPT ICAI Model Test Paper - 6 - Question 108

A monopolist who is s elling in two markets in which demand is not identical will be unable to maximize his profits unless he

CA - CPT ICAI Model Test Paper - 6 - Question 109

Which of the following is not microeconomic subject matter?

CA - CPT ICAI Model Test Paper - 6 - Question 110

Which of the following is a reason for the negative slope of the PPF?

CA - CPT ICAI Model Test Paper - 6 - Question 111

SJSRY stands for

CA - CPT ICAI Model Test Paper - 6 - Question 112

Who is regulatory authority for telecom in India?

CA - CPT ICAI Model Test Paper - 6 - Question 113

Which of the following has resulted in failure to achieve targets of industrial production?

CA - CPT ICAI Model Test Paper - 6 - Question 114

Oil and Natural Gas Corporation Indian Oil Corporation, Steel Authority of India, and Bharat Heavy Electricals are all examples of

CA - CPT ICAI Model Test Paper - 6 - Question 115

Which of the following statements is correct with regard to external sector in the prereform period?

CA - CPT ICAI Model Test Paper - 6 - Question 116

Money stock in India refers to:

CA - CPT ICAI Model Test Paper - 6 - Question 117

Giffen goods are those goods ___________

CA - CPT ICAI Model Test Paper - 6 - Question 118

Three methods of computing national income are ___________.

CA - CPT ICAI Model Test Paper - 6 - Question 119

When AR = Rs. 10 and AC = Rs. 8 the firm makes ___________.

CA - CPT ICAI Model Test Paper - 6 - Question 120

If two goods are complements, this means that a rise in the price of one commodity will induce ___________.

CA - CPT ICAI Model Test Paper - 6 - Question 121

___________ controls affect indiscriminately all sectors of the economy.

CA - CPT ICAI Model Test Paper - 6 - Question 122

‘The lender of last resort’ means ___________.

CA - CPT ICAI Model Test Paper - 6 - Question 123

___________is the custodian of monetary reserves in India

CA - CPT ICAI Model Test Paper - 6 - Question 124

Demand for final consumption arises in ____________.

CA - CPT ICAI Model Test Paper - 6 - Question 125

Service Tax was introduced in the financial year ___________.

CA - CPT ICAI Model Test Paper - 6 - Question 126

At present, the marginal rate of income tax(i.e. tax for the highest slab) is___________

CA - CPT ICAI Model Test Paper - 6 - Question 127

About ___________ percent of the external assistance has been in the form of loans.

CA - CPT ICAI Model Test Paper - 6 - Question 128

___________ is a systematic record of all the economic transactions between one country and rest of the world

CA - CPT ICAI Model Test Paper - 6 - Question 129

If borrowings and other liabilities are added to the budget deficit we get ___________.

CA - CPT ICAI Model Test Paper - 6 - Question 130

What term is used for maximum capital which the company can raise in its life time? 

CA - CPT ICAI Model Test Paper - 6 - Question 131

According to Planning Commission about ___________ percent of the population of India lived below poverty line (as per MRP Method) in 2011-12.

CA - CPT ICAI Model Test Paper - 6 - Question 132

In terms of deposit mobilization, ___________ leads other states.

CA - CPT ICAI Model Test Paper - 6 - Question 133

Direction : Questions 133 to 137 are based on the Figure 1.

Figure 1 represents a:

CA - CPT ICAI Model Test Paper - 6 - Question 134

In figure 1, the firm’s marginal revenue curve is curve 

CA - CPT ICAI Model Test Paper - 6 - Question 135

In Figure 1, curve E is the firm’s:

CA - CPT ICAI Model Test Paper - 6 - Question 136

In figure 1, the firm’s most efficient output is: 

CA - CPT ICAI Model Test Paper - 6 - Question 137

In figure1, the firm’s most profitable output is: 

CA - CPT ICAI Model Test Paper - 6 - Question 138

Direction : Use Table 1 to answer questions 138-142

Consider Sumit’s production data given in the table 1.

Q. 

Suppose Sumit has to pay his workers Rs 20 per hour, and further suppose there are no other production costs at all. What is the marginal product of the 5th worker?

CA - CPT ICAI Model Test Paper - 6 - Question 139

Consider Sumit’s production data given in the table 1.

Q. 

In Table 1, Sumit’s Average Total Cost when 40 units are produced is:

CA - CPT ICAI Model Test Paper - 6 - Question 140

Consider Sumit’s production data given in the table 1.

Q. 

Using data in Table 1, we kno w that the approximate marginal cost of the 52 nd unit of output is: 

CA - CPT ICAI Model Test Paper - 6 - Question 141

Consider Sumit’s production data given in the table 1.

Q. 

Suppose Sumit decides to purchase fire insurance which costs Rs. 87,600 a year.(As it happens, it works out to be Rs 10 per hour) The approximate marginal cost of the 52nd unit now is:

CA - CPT ICAI Model Test Paper - 6 - Question 142

Consider Sumit’s production data given in the table 1.

Q. 

Sumit’s marginal product of the 9th worker: 

CA - CPT ICAI Model Test Paper - 6 - Question 143

Direction : Read table 2 and answer Questions number 143-145

Q. 

Refer Table 2 and find the value of x.

CA - CPT ICAI Model Test Paper - 6 - Question 144

Q. 

Refer Table 2 and find the value of y.

CA - CPT ICAI Model Test Paper - 6 - Question 145

Q. 

Refer table 2 and find the value of z.

CA - CPT ICAI Model Test Paper - 6 - Question 146

Direction : Read table 3 and answer Questions number 146-147

With the same amount of resources, a farmer can feed the following combinations of sheep and cows

Q.

Given the options available to him, what is the opportunity cost to the farmer of feeding one cow?

CA - CPT ICAI Model Test Paper - 6 - Question 147

With the same amount of resources, a farmer can feed the following combinations of sheep and cows

Q. 

Given the options available to him, what is the opportunity cost to the farmer of feeding onesheep?

CA - CPT ICAI Model Test Paper - 6 - Question 148

If the quantity of CD demanded increases from 260 to 290 in response to an increase in income from Rs. 9,000 to Rs. 9,800, the income elasticity of demand is approximately:

CA - CPT ICAI Model Test Paper - 6 - Question 149

If the quantity of good X demanded increases from 8 to 12 in response to an increase in the price of good Y from Rs. 23 to Rs. 27, the cross elasticity of demand for X with respect to the price of Y is approximately:

CA - CPT ICAI Model Test Paper - 6 - Question 150

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

Q. 

Based on the information in table 4, the country’s unemployment rate is

CA - CPT ICAI Model Test Paper - 6 - Question 151

Standard deviation of binomial distribution is :

CA - CPT ICAI Model Test Paper - 6 - Question 152

  If a:b = 5:7 and c:d = 2a:3b, then ac : bd is

Detailed Solution for CA - CPT ICAI Model Test Paper - 6 - Question 152

CA - CPT ICAI Model Test Paper - 6 - Question 153

The integral of    dx is equal to:

CA - CPT ICAI Model Test Paper - 6 - Question 154

Find f o g for the functions f (x) = x8, g(x) = 2x2 + 1

CA - CPT ICAI Model Test Paper - 6 - Question 155

A sample survey is prone to:

CA - CPT ICAI Model Test Paper - 6 - Question 156

Simple Aggregative Method is used for computing a:

CA - CPT ICAI Model Test Paper - 6 - Question 157

The algebraic sum of deviations of a set of observations from their A.M. is:

CA - CPT ICAI Model Test Paper - 6 - Question 158

Number of petals in a flower is an example of:

CA - CPT ICAI Model Test Paper - 6 - Question 159

A Qualitative characteristic is known as :

CA - CPT ICAI Model Test Paper - 6 - Question 160

Methods that are employed for the collection of primary data

CA - CPT ICAI Model Test Paper - 6 - Question 161

The normal curve is ______.

CA - CPT ICAI Model Test Paper - 6 - Question 162

The ______ is satisfied when 

CA - CPT ICAI Model Test Paper - 6 - Question 163

______ is an extension of time reversal test.

CA - CPT ICAI Model Test Paper - 6 - Question 164

For a set of observations, the sum of absolute deviations is ______, when the deviations are taken from the median.

CA - CPT ICAI Model Test Paper - 6 - Question 165

The triplicate ratio of 4: 5 is ______.

CA - CPT ICAI Model Test Paper - 6 - Question 166

When we want to divide the given set of observations into two equal parts, we consider______.

CA - CPT ICAI Model Test Paper - 6 - Question 167

CA - CPT ICAI Model Test Paper - 6 - Question 168

CA - CPT ICAI Model Test Paper - 6 - Question 169

The two variables are known to be ______ if the movement on the part of one variable does not produce any movement on other variable in a particular direction.

CA - CPT ICAI Model Test Paper - 6 - Question 170

The correlation between demand and price (for normal goods) is ______.

CA - CPT ICAI Model Test Paper - 6 - Question 171

Differentiate 

CA - CPT ICAI Model Test Paper - 6 - Question 172

the value of a is :

CA - CPT ICAI Model Test Paper - 6 - Question 173

If the coefficient of correlation between two variables is –0.3 , then the coefficient of determination is

CA - CPT ICAI Model Test Paper - 6 - Question 174

If the coefficient of correlation between two variables is 0.6, then the percentage of variation accounted for is _______

CA - CPT ICAI Model Test Paper - 6 - Question 175

What is the chance of picking a heart or a queen not of heart from a pack of 52 cards?

CA - CPT ICAI Model Test Paper - 6 - Question 176

In a single throw with two dice, chance of throwing 8 is

CA - CPT ICAI Model Test Paper - 6 - Question 177