CA Foundation
A, B and C are partners sharing profits and losses in the ratio 9:4:3. They took joint life policy of Rs. 25,000 for A, Rs. 20,000 for B and Rs. 51,000 for C. what is the share of C in the JLP amount?- a)Rs. 18,000
- b)Rs. 25,000
- c)Rs. 51,000
- d)Rs. 20,000
Correct answer is option 'C'. Can you explain this answer?
A, B and C are partners sharing profits and losses in the ratio 9:4:3. They took joint life policy of Rs. 25,000 for A, Rs. 20,000 for B and Rs. 51,000 for C. what is the share of C in the JLP amount?
a)
Rs. 18,000
b)
Rs. 25,000
c)
Rs. 51,000
d)
Rs. 20,000
Shashi Kantha Vashista answered • 2 hours agoC
Viral Shah asked • 3 minutes agoThe quartile Deviation of a normal distribution with mean 10 and SD 4 is?
Manisha Sangtani asked • 9 minutes agoFind out the incorrect:- a)Economic Activities are drive by nationality.
- b)Economic Activities are guided by self-interest.
- c)Non-Economic Activities are driven by emotional or sentimental force.
- d)Non-Economic Activities are not at all important in life .
Correct answer is option 'D'. Can you explain this answer?
Find out the incorrect:
a)
Economic Activities are drive by nationality.
b)
Economic Activities are guided by self-interest.
c)
Non-Economic Activities are driven by emotional or sentimental force.
d)
Non-Economic Activities are not at all important in life .
Ameesha Sheoran asked • 21 minutes agoTotal utility derived form the consumption of a commodity is equal to Rs. 5. Marginal utility is equal to 1 and consumer has bought 3 units. What will be his consumer surplus?- a)Rs. 2
- b)Rs. 2.5
- c)Rs. 3
- d)Rs. 4
Correct answer is option 'A'. Can you explain this answer?
Total utility derived form the consumption of a commodity is equal to Rs. 5. Marginal utility is equal to 1 and consumer has bought 3 units. What will be his consumer surplus?
a)
Rs. 2
b)
Rs. 2.5
c)
Rs. 3
d)
Rs. 4
Akanksha Soni asked • 25 minutes agoX follows normal distribution with mean 50 and variance as 100 what is P (x>=60)?
Aishwarya Aishwarya asked • 34 minutes ago
On March 31, 2015, the value of inventory as per physical Inventory-taking was Rs. 10,45,000. The company’s gross profit on sales has remained constant at 25%. The management of the company suspects that some inventory might have been pilfered by a new employee. What is the cost of goods sold & estimated cost of missing inventory?... more
On March 31, 2015, the value of inventory as per physical Inventory-taking was Rs. 10,45,000. The company’s gross profit on sales has remained constant at 25%. The management of the company suspects that some inventory might have been pilfered by a new employee. What is the cost of goods sold & estimated cost of missing inventory?
Sanjay Thakur asked • 43 minutes agoThe directors of K Ltd. made the final call of Rs.20 per share on 15-Sep-2014, indicating the due date of payment as 30-Sep-2014. Mr. F, a holder of 8,000 shares paid the call money on 15-Nov-2014. Calculate the interest on calls in arrears.- a)Rs.800
- b)Rs.1,000
- c)Rs.1,200
- d)Rs.1,333
Correct answer is option 'B'. Can you explain this answer?
The directors of K Ltd. made the final call of Rs.20 per share on 15-Sep-2014, indicating the due date of payment as 30-Sep-2014. Mr. F, a holder of 8,000 shares paid the call money on 15-Nov-2014. Calculate the interest on calls in arrears.
a)
Rs.800
b)
Rs.1,000
c)
Rs.1,200
d)
Rs.1,333
Ninad Murudkar asked • 46 minutes ago7 If a purchase return of Rs. 84 has been wrongly posted to the debit of the sales return account, but had been correctly entered in the suppliers account, the total of the trial balance would show:- a)The credit side to be Rs. 84 more than debit side.
- b)The debit side to be Rs. 84 more than credit side.
- c)The credit side to be Rs. 168 more than debit side.
- d)The debit side to be Rs. 168 more than credit side.
Correct answer is option 'D'. Can you explain this answer?
7 If a purchase return of Rs. 84 has been wrongly posted to the debit of the sales return account, but had been correctly entered in the suppliers account, the total of the trial balance would show:
a)
The credit side to be Rs. 84 more than debit side.
b)
The debit side to be Rs. 84 more than credit side.
c)
The credit side to be Rs. 168 more than debit side.
d)
The debit side to be Rs. 168 more than credit side.
Hari Sri asked • 52 minutes ago
- a)1
- b)–1
- c)0
- d)none of these
Correct answer is option 'C'. Can you explain this answer?
a)
1
b)
–1
c)
0
d)
none of these
Pranita Sapkal asked • 53 minutes agoThe main criterion of indivisibility of a good is that the good?
Lithi Sha asked • 1 hour agoThe profits and losses for the last years are 2001-02 Losses Rs. 10,000; 2002-03 Losses Rs. 2,500; 2003-04 Profits Rs. 98,000 & 2004-05 Profits Rs. 76,000. The average capital employed in the business is Rs. 2,00,000. The rate of interest expected form capital invested is 12%. The remuneration of partners is estimated to be Rs. 1,000 per month. Calculate the value of goodwill on the basis of four years purchase of super profit based on the annuity of four years. Take discounting rate as 10%. - a)Rs. 13,500
- b)Rs. 13568
- c)Rs. 13668
- d)Rs. 13,868.
Correct answer is option 'D'. Can you explain this answer?
The profits and losses for the last years are 2001-02 Losses Rs. 10,000; 2002-03 Losses Rs. 2,500; 2003-04 Profits Rs. 98,000 & 2004-05 Profits Rs. 76,000. The average capital employed in the business is Rs. 2,00,000. The rate of interest expected form capital invested is 12%. The remuneration of partners is estimated to be Rs. 1,000 per month. Calculate the value of goodwill on the basis of four years purchase of super profit based on the annuity of four years. Take discounting rate as 10%.
a)
Rs. 13,500
b)
Rs. 13568
c)
Rs. 13668
d)
Rs. 13,868.
Mansi Loya asked • 1 hour agoSuppose, the total cost of production of commodity X is Rs. 1,25,000. Out of this cost implicit cost Rs. 35,000 and normal profit is Rs. 25,000. What will be the explicit cost of commodity X?- a)90000
- b)65000
- c)60000
- d)1,00,000
Correct answer is option 'B'. Can you explain this answer?
Suppose, the total cost of production of commodity X is Rs. 1,25,000. Out of this cost implicit cost Rs. 35,000 and normal profit is Rs. 25,000. What will be the explicit cost of commodity X?
a)
90000
b)
65000
c)
60000
d)
1,00,000
Stephin George asked • 1 hour agoWhich of the following does not suggest a macro approach for India?- a)Determining the GNP of India.
- b)Finding the causes of failure of X and co.
- c)Identifying the causes of inflation in India.
- d)Analyse the causes of failure of industry in providing large scale employment.
Correct answer is option 'B'. Can you explain this answer?
Which of the following does not suggest a macro approach for India?
a)
Determining the GNP of India.
b)
Finding the causes of failure of X and co.
c)
Identifying the causes of inflation in India.
d)
Analyse the causes of failure of industry in providing large scale employment.
Varahalasetty Bujji asked • 1 hour ago X owes Y two sums, one for Rs. 2,000 which is barred by Limitations and another for Rs. 2,500 which is not barred. X pays Y Rs. 1,000 on account generally. Latter Y sues for Rs. 2500. X pleads:
(i) As to Rs. 2,000 that it was time barred, and
(ii) As to Rs. 2,500 a part payment of Rs. 1,000 - a)Y can appropriate the payment of Rs. 1,000 towards the first debt & X is bound to pay Rs. 2,500 which is not yet barred by limitation
- b)Both the contentions of X are wrong
- c)Either (a) or (b)
- d)Both (a) and (b)
Correct answer is option 'D'. Can you explain this answer?
X owes Y two sums, one for Rs. 2,000 which is barred by Limitations and another for Rs. 2,500 which is not barred. X pays Y Rs. 1,000 on account generally. Latter Y sues for Rs. 2500. X pleads:
(i) As to Rs. 2,000 that it was time barred, and
(ii) As to Rs. 2,500 a part payment of Rs. 1,000
(i) As to Rs. 2,000 that it was time barred, and
(ii) As to Rs. 2,500 a part payment of Rs. 1,000
a)
Y can appropriate the payment of Rs. 1,000 towards the first debt & X is bound to pay Rs. 2,500 which is not yet barred by limitation
b)
Both the contentions of X are wrong
c)
Either (a) or (b)
d)
Both (a) and (b)
Divyanshu Saraf asked • 2 hours ago The credit balance as per pass book of Mr. X was Rs. 65,600. Cheques issued but not presented for payment Rs. 75,800. Cheques deposited by one of the customers of the bank but wrongly credited in Mr. X account Rs. 20,600. The balance as per cash book will be:-- a)Rs. 30,800 Debit
- b)Rs. 30,800 overdraft
- c)Rs. 1,20,800 Debit
- d)Rs. 10,400 overdraft.
Correct answer is option 'B'. Can you explain this answer?
The credit balance as per pass book of Mr. X was Rs. 65,600. Cheques issued but not presented for payment Rs. 75,800. Cheques deposited by one of the customers of the bank but wrongly credited in Mr. X account Rs. 20,600. The balance as per cash book will be:-
a)
Rs. 30,800 Debit
b)
Rs. 30,800 overdraft
c)
Rs. 1,20,800 Debit
d)
Rs. 10,400 overdraft.
Baranipriya R asked • 2 hours agoSelection of an inappropriate accounting policy decision may- a)Overstate the performance and financial position a business entity.
- b)Understate/overstate the performance and financial position a business entity.
- c)Overstate the performance a business entity.
- d)Understate financial position a business entity.
Correct answer is option 'B'. Can you explain this answer?
Selection of an inappropriate accounting policy decision may
a)
Overstate the performance and financial position a business entity.
b)
Understate/overstate the performance and financial position a business entity.
c)
Overstate the performance a business entity.
d)
Understate financial position a business entity.
Rams asked • 2 hours ago The bank charged Rs. 1,000 as bank charges to a client and communicates the same to him. The accountant records it in the bank account in books. Later on the bank realizes that the charges were wrongly charged and reverses the same, but forgot to communicate the same to the client. If the accountant is starting with the bank balance as per bank account in books, what will be the treatment in Bank Reconciliation statement to arrive at balance as per Bank statement:- a)Reduce Rs. 1,000
- b)Add Rs. 1,000
- c)Add Rs. 2,000
- d)No treatment
Correct answer is option 'B'. Can you explain this answer?
The bank charged Rs. 1,000 as bank charges to a client and communicates the same to him. The accountant records it in the bank account in books. Later on the bank realizes that the charges were wrongly charged and reverses the same, but forgot to communicate the same to the client. If the accountant is starting with the bank balance as per bank account in books, what will be the treatment in Bank Reconciliation statement to arrive at balance as per Bank statement:
a)
Reduce Rs. 1,000
b)
Add Rs. 1,000
c)
Add Rs. 2,000
d)
No treatment
Tasleem Begum asked • 2 hours agoOn March 31, 2010 after sale of goods worth Rs. 2,000, he is left with the closing inventory of Rs. 10,000. This is- a)An event
- b)A transaction
- c)A transaction as well as an event
- d)Neither a transaction nor an event
Correct answer is option 'A'. Can you explain this answer?
On March 31, 2010 after sale of goods worth Rs. 2,000, he is left with the closing inventory of Rs. 10,000. This is
a)
An event
b)
A transaction
c)
A transaction as well as an event
d)
Neither a transaction nor an event
Parmeet Thakral asked • 2 hours ago50 per cent of a certain product have weight 60 Kg or more whereas 10 per cent have weight 55 Kg or less. On the assumption of normality, what is the variance of weight?Given 
(1.28) = 0.90.- a)15.21
- b)9.00
- c)16.00
- d)22.68
Correct answer is option 'A'. Can you explain this answer?
50 per cent of a certain product have weight 60 Kg or more whereas 10 per cent have weight 55 Kg or less. On the assumption of normality, what is the variance of weight?Given (1.28) = 0.90.
(1.28) = 0.90.a)
15.21
b)
9.00
c)
16.00
d)
22.68
Mansi Behl asked • 2 hours agoIn the absence of proper agreement, representative of the diseased partner is entitled to the Dead partner’s share in the following items.- a)Profits till date, goodwill, joint life policy, share in revalued assets and liabilities.
- b)Capital, goodwill, joint life policy, interest on capital, share in revalued assets and liabilities
- c)Capital, profits till date, goodwill, interest on capital, share in revalued assets and liabilities
- d)Capital, profits till date, goodwill, joint life policy, share in revalued assets and liabilities
Correct answer is option 'D'. Can you explain this answer?
In the absence of proper agreement, representative of the diseased partner is entitled to the Dead partner’s share in the following items.
a)
Profits till date, goodwill, joint life policy, share in revalued assets and liabilities.
b)
Capital, goodwill, joint life policy, interest on capital, share in revalued assets and liabilities
c)
Capital, profits till date, goodwill, interest on capital, share in revalued assets and liabilities
d)
Capital, profits till date, goodwill, joint life policy, share in revalued assets and liabilities
Surendar Reddy asked • 3 hours agoWhat comprises the decoding stage of the communication model?- a)Perception; retention.
- b)Attention; perception; retention
- c)Receiving; processing and storing information
- d)Short term memory; decoding; long term memory.
Correct answer is option 'B'. Can you explain this answer?
What comprises the decoding stage of the communication model?
a)
Perception; retention.
b)
Attention; perception; retention
c)
Receiving; processing and storing information
d)
Short term memory; decoding; long term memory.
Shaziya Shaikh asked • 3 hours agoThe equation 3(3x^ 15)/6 2x^ 9 = 2x^ 96/7 6 has got the solution as?
Sanjay Thakur asked • 3 hours agoThe total cost of goods available for sale with a company during the current year is Rs.12,00,000 and total sales during the period is Rs.13,00,000. If the gross profit margin of the company is 33 1/3% on cost, the closing inventory during the current year is- a)Rs. 4,00,000
- b)Rs. 3,00,000
- c)Rs. 2,25,000
- d)Rs. 2,60,000
Correct answer is option 'C'. Can you explain this answer?
The total cost of goods available for sale with a company during the current year is Rs.12,00,000 and total sales during the period is Rs.13,00,000. If the gross profit margin of the company is 33 1/3% on cost, the closing inventory during the current year is
a)
Rs. 4,00,000
b)
Rs. 3,00,000
c)
Rs. 2,25,000
d)
Rs. 2,60,000
Mansi Behl asked • 3 hours ago On 01.01.2001, a new plant was purchased by Mrs. Shweta Periwal for Rs. 1,00,000 and a further sum of R.s 5,000 was spent on installation. On 01.06.2002, another plant was acquired for Rs. 65,000. On 02.01.2003, the first plant was totally destroyed and the amount of Rs. 2,500 only was realized by selling the scraps. It was not insured. On 20.10.2003, a second hand plant was purchased for Rs. 75,000 and a further sum of Rs. 7,500 was spent for repairs and Rs. 2,500 on its erection. It came into use on 15.11.2003. Depreciation has been provided @ 10% on the original cost annually on 31st December. It was the practice to provide depreciation for full year on all acquisitions made at any time during the year and to ignore the depreciation on any time sold during the year. In December 2003, it is decided to change the method of depreciation and to follow the rate of 15% on diminishing balance method with retrospective effect in respect of the existing items of plant and to make necessary adjustments on 31.12.2003.
Closing balance in Provision for Depreciation A/c = ___________... more
On 01.01.2001, a new plant was purchased by Mrs. Shweta Periwal for Rs. 1,00,000 and a further sum of R.s 5,000 was spent on installation. On 01.06.2002, another plant was acquired for Rs. 65,000. On 02.01.2003, the first plant was totally destroyed and the amount of Rs. 2,500 only was realized by selling the scraps. It was not insured. On 20.10.2003, a second hand plant was purchased for Rs. 75,000 and a further sum of Rs. 7,500 was spent for repairs and Rs. 2,500 on its erection. It came into use on 15.11.2003. Depreciation has been provided @ 10% on the original cost annually on 31st December. It was the practice to provide depreciation for full year on all acquisitions made at any time during the year and to ignore the depreciation on any time sold during the year. In December 2003, it is decided to change the method of depreciation and to follow the rate of 15% on diminishing balance method with retrospective effect in respect of the existing items of plant and to make necessary adjustments on 31.12.2003.
Closing balance in Provision for Depreciation A/c = ___________
Closing balance in Provision for Depreciation A/c = ___________
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