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


100 Questions MCQ Test CA CPT - Mock Test Series and Previous Year Question Papers | CA-CPT Question Paper December - 2013(Session 1)


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This mock test of CA-CPT Question Paper December - 2013(Session 1) for CA CPT helps you for every CA CPT entrance exam. This contains 100 Multiple Choice Questions for CA CPT CA-CPT Question Paper December - 2013(Session 1) (mcq) to study with solutions a complete question bank. The solved questions answers in this CA-CPT Question Paper December - 2013(Session 1) quiz give you a good mix of easy questions and tough questions. CA CPT students definitely take this CA-CPT Question Paper December - 2013(Session 1) exercise for a better result in the exam. You can find other CA-CPT Question Paper December - 2013(Session 1) extra questions, long questions & short questions for CA CPT on EduRev as well by searching above.
QUESTION: 1

What are the options available to the holder o fa bill in the bills of exchange (Besides retaining the bill, till the due date)?

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QUESTION: 2

Which of the following should be valued compulsory at the time of admission of apartner______

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QUESTION: 3

Which Accounts are used to prepare Bank Reconciliation statement?

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QUESTION: 4

The opening stock is overstated by Rs.10,000 and closing stock is understated by Rs.15,000. The impact on the net profit of the current year is

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QUESTION: 5

If nothing is given in the financial statements about the three accounting assumptions then it is to be treated as it

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QUESTION: 6

A & B have started a Joint Venture for purchase & Sale of garments. Initial capital contribution was Rs.25,000 & Rs.50,000. There is no written agreement about share of P & Lamong them. They purchased garments worth Rs.50,000 & sold for Rs.75,000, the profit to be shared among them is

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QUESTION: 7

Preference shares can be redeemed, unless they are

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QUESTION: 8

On 1st April, Mr.A sold goods of Rs.10,000 to Band drew a bill for 3 months. Mr. A discounted the bill with bank at 15%. Amount of discount will be?

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QUESTION: 9

Underwriting commission will not be paid on shares taken by

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QUESTION: 10

Renewal fee of patents is a ____ expenditure.

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QUESTION: 11

A & B are equal partners. They admitted ‘C’ for  share. The new Ratio of A & B is

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QUESTION: 12

The proprietor of the business is treated as creditor for the capital introduced by him due to_____ concept.

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QUESTION: 13

Where a machine produces products of uniform size, the method of depreciation to be applied ______

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QUESTION: 14

Debentures are shown under the heading____

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QUESTION: 15

Fixed assets are held by business for _____

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QUESTION: 16

Net realizable value is _______

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QUESTION: 17

In Joint Venture the minimum number of co-ventureres is :

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QUESTION: 18

Retirement of a Bill means _____

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QUESTION: 19

A Bill is Discounted Rs.10,000. Where is it shown at the time of preparation of balance sheet?

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QUESTION: 20

Expenditure spend for Increasing the cinema hall seats is called_____

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QUESTION: 21

Which of the following is the meaning for the entry recorded in the machinery A/c?

  Dr                    Machienry A/c                 Cr

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QUESTION: 22

Which accounting concept specifies the practice of crediting closing stock to the trading account?

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QUESTION: 23

A LTD before commencing business, can it issue the shares at discount?

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QUESTION: 24

In Balance sheet ______ is not shown

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QUESTION: 25

Provision for depreciation A/c is created bydebiting to

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QUESTION: 26

Amount spent to increasing the earning capacity is a ______ expenditure

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QUESTION: 27

Which of the following is true?

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QUESTION: 28

Change in the capital A/c of proprietor may occur due to ______

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QUESTION: 29

If the goods sent on approval, two vehicles of Rs.55,000 each, are recorded as Rs.75,000 each, then the cost of goods lying with customers is

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QUESTION: 30

Which of the following is not correct for debentures Issue?

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QUESTION: 31

Goods purchased costing Rs.60,000 and cash paid Rs.45,000 after receipt of a cash discount Rs.9,000. What is the percentage of trade discount got___

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QUESTION: 32

_____ is prepared to as certain the arithmetical accuracy of posting & balancing of accounts.

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QUESTION: 33

If depreciation is charged at a fixed rate, then depreciation in SLM method, when compared to WDV is

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QUESTION: 34

Consistency with reference to application of accounting procedures means

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QUESTION: 35

The manager earned a commission of Rs.25,000, which is based on 10% of Net Profit. If sales is Rs.3,50,000 is more than purchases. No opening & closing stock. Find Direct & Indirect expenses?

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QUESTION: 36

Which is not a feature of company

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QUESTION: 37

Delcredere commission 10% is to be calculated on Rs.1,00,000 of cash sales and on Rs.50,000 of credit sales, then the commission will be

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QUESTION: 38

For a depreciable asset, obsolescence is due to

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QUESTION: 39

Salaries paid Rs.4,500 is shown on credit sideof Trail Balance. The Debit side of Trial Balance will be ______

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QUESTION: 40

The value of inventory as on Apr.04 is Rs.1,60,000. The following transactions takes place during Apl.01 to Apl.04. The value of stock sold is Rs.40,000. The mode of sale is as follows:-

i) The damaged goods are sold for Rs.15,000,Sold at 25% below cost.

ii) The remaining goods are sold at cost plus25%.The value of stock as on 31st March is(Damaged goods valued at NRV) ______

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QUESTION: 41

An Asset purchased for Rs.60,000 and paidRs.10,000 and remaining amount is payable in installments. This effect leads to ______

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QUESTION: 42

A company issued shares for 5,000 but applications are received for 7,500 shares. Mr.X applied for 600 shares. How many shares hewill get & how much amount is transferred to allotment money, where application money is Rs.3 per share?

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QUESTION: 43

On 31-03-13 balance of Cash book is Rs.7,074(Credit), balance as per bank statement is Rs.3,159 (Debit). On scrutiny it was found that,it was due to cheques issued but not yet presented.Bank balance on 31-03-13 to be shown in Balance sheet is _____

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QUESTION: 44

Karthik and Dhoni entered into Joint venture,sharing profits & Losses in the Ratio of 2:1.Karthik purchased goods Rs.2,00,000 and entitled to 1% commission on purchases.Dhoni sold goods for Rs.2,50,000 and entitled to get a commission 5% on sales. The profit onventure will be _____

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QUESTION: 45

______ method is used when repairs and Maintenance goes on increase.

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QUESTION: 46

Wages paid Rs.2,500 for Installation of new machinery wrongly debited to wages A/c instead of machinery A/c. It is an error of ____

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QUESTION: 47

Which of the following are current assets?

1) Accounts receivable

2) Salaries paid-in-advance

3) Bank Loan for 3 years

4) Preliminary expenses

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QUESTION: 48

Overriding commission is a commission, tha tis____

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QUESTION: 49

On 31-3-13, prepaid expenses A/c (2012-13) shows a closing balance of Rs.5,000. It means

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QUESTION: 50

Petty cash book is used to record ____

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QUESTION: 51

Ram Ltd. has issued 15% Debentures of Rs.20,00,000 at a Discount of 10% on April,2012. The company pays interest half yearly onJune 30th & Dec 31st every year. On March 31st,2013. The amount shown as interest  accrued is______

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QUESTION: 52

In Profit & Loss a/c, Selling & Distribution expenses does not include______

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QUESTION: 53

The credit balance as per pass book of ‘X’ was Rs.65,000. Cheques issued but not paid Rs.75,800.Cheques deposited by one of the customers ofbank but wrongly credited in ‘X’ A/c Rs.20,600.The balance as per cash book is _____

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QUESTION: 54

Rectification of errors are first entered in:

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QUESTION: 55

Which of the following are not miscellaneous expenses?

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QUESTION: 56

Uma, being a holder of 1000 shares of Rs.20each issued at a discount of 10% per share. Shedid not pay the allotment money of Rs.4 pershare and first call of Rs.8 per share. At thetime of forfeiture, the discount on the sharesmust be_____

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QUESTION: 57

C & D are the partners of a firm, who shareprofits & losses in the ratio of 5:3. D is entitled to get 5% commission. The net profit of the year is Rs.33,600 before charging such commission. Find the share of the profits of C & D.

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QUESTION: 58

Which of the following is false?

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QUESTION: 59

In which method, Joint life policy premium paid is treated as an expense and not as an asset?

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QUESTION: 60

Three column cash book records

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QUESTION: 61

In case of unenforceable contract with some technical defect, then the parties _____

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QUESTION: 62

______ Contracts are also known as Contracts with executed consideration

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QUESTION: 63

An Advertisement for sale of an old Flat which is published in leading news paper. This kind of offer is _____

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QUESTION: 64

There is no binding contract in case of ____ asone’s offer can not be construed as acceptance by the other.

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QUESTION: 65

A offers B to supply Books at Rs.100 each Book. B accepts the same with condition of 10% discount. It is _____

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QUESTION: 66

In case of counter offer is made, the original offer stands _____

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QUESTION: 67

Which of the following is not an exception to the rule “No Consideration, No Contract”?

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QUESTION: 68

G paid Rs.1,00,000 to H to influence the head of the Government Organisation in order to provide him some employment. On his failureto provide the job, G sued H for recovery of the amount. Which of the following is correct?

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QUESTION: 69

A stronger party is able to dominate the will ofthe weaker party, then it is known as _____

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QUESTION: 70

Karthik is the coach of Sachin a minor, who joined for Hockey coaching. The Fees is 10,000.The Contract is _____

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QUESTION: 71

_______ is a game of chance.

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QUESTION: 72

A, B, C are partners. They promised to give 60,000 to D. If C dies, who will Perform the Contract?

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QUESTION: 73

A contract entered between promisor and promisee becomes impossible to perform dueto destruction of subject matter. In this case __

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QUESTION: 74

X & Y entered into an agreement to buy an imported car for Rs.30,000. Later on they cancelled the agreement. This is known as ___

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QUESTION: 75

A holds a house on lease. After that he buys the house and became owner. The contract is discharged by _____

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QUESTION: 76

Which of the following Damages are punishment in nature?

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QUESTION: 77

Under Indian partnership act 1932, the Partnership can be formed between ____

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QUESTION: 78

The Mode of determining the existence of partnership is ___

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QUESTION: 79

Each partner in a firm is in the position of ____

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QUESTION: 80

Which of the following is a form in which all the partners are signed?

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QUESTION: 81

The Un-registered firm does not have a _____

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QUESTION: 82

Dormant partner is also known as ____

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QUESTION: 83

In which of the following, the partnership duration is not fixed?

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QUESTION: 84

Robert is a sleeping partner in a firm. He detected a wrong in the accounts of the firm.So he wants to check the complete accounts of the firm. But the other partners objected it.Can the objection made by the other partnersis correct or not?

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QUESTION: 85

The status of a partner making advances to the firm in addition to his capital, then he is _____

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QUESTION: 86

As per the agreement, profits should be shared equally but loss shall be borne by one partner.Then the partnership agreement is _____

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QUESTION: 87

Which of the following is with in the scope of implied authority of a partner in a partnership firm?

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QUESTION: 88

The liability of newly admitted partner arise from ____

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QUESTION: 89

For Dissolution of a firm, partners may apply to the court on the ground of _______

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QUESTION: 90

The mode of dissolution of firm under Indian partnership Act 1932 is_____

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QUESTION: 91

Under the sale of goods act 1930, the seller ina contract of sale transfers the ______ ingoods to the buyer for a price.

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QUESTION: 92

If the goods completely perish before contract of sale, the contract becomes.

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QUESTION: 93

A stipulation in a contract of sale with reference to the goods which may be ____

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QUESTION: 94

Conditions which are presumed by law to be present in a contract are ______

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QUESTION: 95

When a person sells the goods by infringing the copy right or trademark of the others, there is breach of an implied _______

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QUESTION: 96

The Doctrine of Caveat Emptor applies to the sale where ______

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QUESTION: 97

The Goods are damaged after Sale. The Risk isto be borne by ______

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QUESTION: 98

Q sells 100 tones of rice to P at Rs.50,000 pertone. P makes the full payment and says thathe will take the goods on next week. Before Pcould take the goods, the goods are destroyed.The loss will be borne by _____

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QUESTION: 99

Seller sends the goods to the buyer at larger (or) smaller quantity than ordered quantity.The option to the buyer is _____

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QUESTION: 100

Right of general lien cannot be exercised by __

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