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CA-CPT JUNE-2013 Question Paper
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EDUCATIONAL INSTITUTIONS
1. CostofthemachineryisRs.60,000.Depreciation@20%onSLMmethod.In2ndyear,theydecided
tochangethemethod,andadoptWDVmethod@20%.IfthemachinewassoldforRs.30,000atthe
endofthethirdyear,lossonsaleofthemachinery.
(a) Loss Rs. 4,720 (b) Loss Rs. 720
(c) Loss Rs. 4,560 (d) Noneoftheabove
2. Areasinwhichdifferentaccountingpoliciesareadopted
(a) Inventoryvaluation (b) Retirementbenefit
(c) GoodwillTreatment (d) Alloftheabove
3. MLtdallotted10,000sharestotheapplicantsofRs.14,000sharesonproratabasis.Application
moneyisRs.2pershare.Yogeshashareholderallotted300shares.Thenumberofsharesheapplied.
(a) 420 (b) 300
(c) 350 (d) 214
4. A&BarepartnersinafirmsharingP&Lintheratioof3:1.NnewpartnerCisadmittedandhe
bringsRs.40,000asgoodwill.Newprofitsharingratioafteradmissionisequal.Theamountof
goodwilltobesharedbyoldpartnersas:
(a) Equally Rs.20,000 each
(b) AwillreceiveRs.50,000andBwillpaytoCRs.10,000
(c) ARs.40,000andBRs.Nil
(d) BRs.50,000andARs.Nil
5. WhilepreparingB.R.Swithbalanceaspercashbookwhichofthefollowingwillnotbeadded:
(a) Chequedepositedbutnotcleared
(b) Chequeissuedbutnotpresented
(c) Chequedirectlydepositedinbankbyacustomer
(d) Alloftheabove
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6. X,Y and Z are partners sharing profit and loss in equal ratio. X paid firms liability of Rs.10,000 out of his
funds. What is the journal entry to be passed by firm.
(a) LiabilityA/cDr. Rs.10,000
ToXs CapitalA/c Rs.10,000
(b) XsCapitalA/cDr. Rs.10,000
To Cash Rs.10,000
(c) Noentry
(d) LiabilityA/cDr. Rs.10,000
ToCash A/c Rs.10,000
7. AandBshareprofitsandlossesintheratioof2:1.Cisadmittedwith1/4thshareinprofit,whichhe
acquired3/4thofhissharefromAand1/4thofhissharefromB.Newprofitsharingratiowillbe
(a) 2:1:1 (b) 1:1:1
(c) 3:1:1 (d) 23:13:12
8. GoodscostingRs.1,00,000senttocustomersonsaleorreturnbasisatcostplus10%.Duringtheyear
50%ofthegoodhavebeenaccepted.30%ofthegoodsreturnedandthebalancegoodswerelying
withcustomersatyearendandtimelimitforapprovalisnotexpired.Amountoftotalstocktobe
showninthefinancialstatement
(a) Rs.1,00,000 (b) Rs.55,000
(c) Rs.50,000 (d) Rs.20,000
9. XLtd.revealedthefollowinginformationason31stMarch2006:
Rs.
Stock as on April 01, 2005 1,60,000
Purchases 3,20,000
Sales 4,00,000

GoodsworthRs.60,000weredestroyed.InsuranceCompanyacceptedtheclaimofRs.20,000.The
G.P.onsalesis25%,thevalueofclosingstockason31stMarch2006.
(a) Rs.12,000 (b) Rs.80,000
(c) Rs.1,20,000 (d) Rs.60,000
10. GoodscostingRs.4,000(salesvalueofRs.10,000)weredestroyedbythefire.ScrapofRs.400was
takenoverbyInsuranceCompany.InsuranceCompanyacceptedaclaimofRs.2,700.Whatamountof
losswillbetransferredtoProfit&LossA/c?
(a) Rs.7,300 (b) Rs.1,700
(c) Rs.1,300 (d) Rs.900
11. Proprietorspersonaltravellingexpensesarenottobechargedinbusinessdueto_____concept.
(a) Materiality (b) Conservatism
(c) Business Entity (d) GoingConcern
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12. CapitalemployedbyfirmisRs.5,00,000.Normalrateofreturn20%.Pastfouryearsprofitswereas
follows:
1995 1,20,000 1996 1,80,000
1997 1,50,000 1998 2,00,000
Goodwillat2yearspurchaseasperSuperprofitsmethod.
(a) Rs.3,25,000 (b) Rs.1,62,000
(c) Rs.1,25,000 (d) Rs.3,12,500
13. IntheB/Sunclaimeddividendisshownunder
(a) ReserveandSurplus (b) Current Liabilities
(c) Securedloans (d) Sharecapital
14. AandBenteredinajointventuretoshareprofitsandlossesequally.AsuppliedgoodsworthRs.7,000
andincurredexpensesofRs.300.BsoldthegoodsforRs.10,000andincurredexpensesofRs.500.
FinalremittancebyBtoA?
(a) Rs. 4,200 (b) Rs. 8,000
(c) Rs. 8,800 (d) Rs. 8,400
15. 50012%debenturesofRs.10eachareissuedascollecteralsecurity.Torecordthetransaction_____
entryispassed.
(a) DebitcashA/candCreditdebenturesA/c
(b) DebitdebenturessuspenseA/candcreditdebenturesA/c
(c) DebitdebenturessuspenseA/candCreditcashA/c
(d) Noentry
16. FromthefollowinginformationprovidedbyAgraLtd.Calculatethevalueofclosingstock.
Item No. of Items Cost Per Unit M.P/Per Unit
Zen 14 100 120
Suzuki 15 50 40
Ambassador 20 20 20

(a) Rs.2,400 (b) Rs.2,550 (c) Rs.2,600 (d) Rs.2,750
17. Toachievecomparabilityofthefinancialstatementssameaccountingpoliciesshouldbefollowed
fromoneyeartoanotherdueto____concept
(a) Consistency (b) Materiality
(c) Conservatism (d) Goingconcern
18. TheoverdraftasperCashBookofMr.XisRs.20,500.Mr.ZdirectlydepositedRs.50,000intoMr.Xs
account,aboutwhichMr.Xwasnotaware.ChequedepositedintobankforRs.25,000wasreturned
dishonourandtheinformationisyettobereceivedbyMr.X.ThebalanceasperPassBookwas:
(a) Rs.4,500Credit (b) Rs.45,500Credit
(c) Rs.4,500Overdraft (d) Noneoftheabove
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19. X purchases goods foronemonth credit from Yworth Rs.20,000. Yhasgiven a trade discount of
Rs.1,000.YalsoofferedacashdiscountofRs.500ifpaymentismadewithin90days.Xavailthe
cashdiscountandpaidtheduesofY.Attheendoftheyearthegoodsareunsold.Thevalueof
closing stock
(a) Rs. 19,000 (b) Rs.20,000
(c) Rs.19,500 (d) Rs.18,500
20. If prefence shares are redeemed out of the fresh issue of Equity shares; which account will be
credited?
(a) Capitalreserveaccount (b) Capitalredemptionreserveaccount
(c) Generalreserve (d) Equitysharecapitalaccount
21. SubodhtraderspurchasedgoodsforRs.30,00,000andsold70%ofgoodsduringtheyear.Themarket
valueoftheremaininggoodswasRs.6,00,000.SubodhtradersvaluedtheclothingstockatRs.6,00,000
andnotatRs.9,00,000duetoconceptof_______
(a) Moneymeasurement (b) Conservatism
(c) Realisation (d) Cost
22. ThedirectorsofXLtdmadefinalcallofRs.50pershareon1stAugust,2012.Thelastdateofpayment
ofcallmoneyis31stAugust,2012.Mr.Sureshholding5000sharespaidthecallmoney onOctober
15,2012.Whatistheamountofinterestoncallsinarrears
(a) Rs.1562.50 (b) Rs.12,500 (c) Rs.1500 (d) Rs.1875
23. AbillofexchangeisdrawnbyMr.SelleronMr.BuyerforRs.10,000on30thJanuary2012foronemonth
theduedateofthebillwouldbe
(a) 4thMarch,2012 (b) 29thFeb,2012
(c) 3rdMarch,2012 (d) 5thMarch,2012
24. Mr.A,adealertookphysicalstockofinventorieson11
th
April.ThecostofstockwasatRs.4,20,000
(Includinggoodsreceivedonconsignment).ThedealerreceivedgoodscostingRs.1,00,000inMarch
forsaleonconsignmentbasis.20%ofthegoodshadbeensoldbefore31
st
Marchand60%between
1
st
to10
th
April.Whatwasthevalueofstockasat31
st
March?
(a) Rs.3,20,000 (b) 3,60,000
(c) Rs.3,40,000 (d) Rs.4,00,000
25. ITCLtdhasissuedachequeforRs.2,00,000,theaccountantbyerrorhasrecordedthepaymentat
Rs.20,000.Thiserrorcanbeidentifiedonpreparing_______
(a) P&LA/c (b) Bankbook
(c) BRS (d) Trial balance
26. Whichofthefollowingisnotacontingentliability?
(a) Claimsagainstenterprisesnotacknowledgeasdebts
(b) Penaltyimportedbyexciseofficerforviolation
(c) Guaranteesgiventothirdparties
(d) Liabilities for bills discounted
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27. ProprietorusedtherentedbuildingbothforbusinessandResidenceequally.Therentpaidduringthe
year1,32,000debitedtorentexpensesinthebooksofthebusiness.Onemonthrentisstilloutstanding.
Liabilityforthebusinessattheendoftheyear:
(a) Rs.6,000 (b) Nil
(c) RS.10,000 (d) Rs.12,000
28. Calculateamountofsalaryexpensefortheyearending31.03.2005.
Salaryoutstandingason31.03.2004 Rs.25,000
Salaryoutstandingason31.03.2005 Rs.10,000
Prepaidsalaryon31.03.2004 Rs.10,000
Salarypaidduringtheyear Rs.3,00,000
(a) Rs.3,00,000 (b) Rs.3,05,000
(c) Rs.2,95,000 (d) Rs.3,10,000
29. WhichofthefollowingstatementisFalsewithrespecttodebentures?
(a) Acompanycanissueirredeemabledebentures
(b) Acompanycanissuedebenturesforconsiderationotherthancash
(c) Acompanycanbuyitsowndebentures
(d) Acompanycanissueddebentureswithvotingrights
30. Followingerrorsareidentifiedafterpreparingfinancialstatements
(i) BadDebtsrecoveredRs.500wascreditedtoDebtorsA/c
(ii) BankchargesofRs.50enteredtwiceinCashBook
(iii) PurchaseReturnofRs.100wasomittedtoberecorded
Whatwillbetheeffectonprofitafterrectification?
(a) Increase Rs.550 (b) Increase Rs.650
(c) Decrease Rs.650 (d) Noneoftheabove
31. AsperaccountingequationAssets=Capital+liabilitieswhichofthefollowingequationwillbetrueif
proprietorstartsbusinesswithRs.5,50,000andthenbuygoodsworthRs.1,50,000fromSureshon
credit
(a) 7,00,000=5,50,000+1,50,000 (b) 5,50,000=7,00,000-1,50,000
(c) 7,00,000=5,50,000-1,50,000 (d) 5,50,000=5,00,000+50,000
32. WhichofthefollowingstatementisFalse?
(a) ExpensesincurredforobtaininglicenceforrunningtheCinematheaterisCapitalexpenditure
(b) ThecostofRingsandpistonsofanenginetoincreasefuelefficiencyisrevenueexpenditure.
(c) Costofconstructionofbuildingincludingcostoftemporaryhutsforstoringbuildingmaterials
isCapitalexpenditure
(d) Heavyadvertisementexpensestopromoteanewproductisdeferredrevenueexpenditure
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33. Old office furniture sold to Shyam for Rs.2000 was entered in the sales book. The book value of
furnituresold was Rs.2,500. Rectification entry is :
(a) SalesA/cDr. Rs.2000
LossonsaleoffurnitureA/cDr. Rs.500
Tofurniturea/c Rs.2500
(b) ShyamA/cDr. Rs.2000
TofurnitureA/c Rs.2000
(c) FurnitureA/cDr. Rs.2500
To sales Rs.2500
(d) Salesa/c Dr. Rs.2000
TofurnitureA/c Rs.2000
34. YLtd.Issued1,50,000sharesofRs.100eachatadiscountof10%.Mr.Ramtowhom300shareswere
allotted,failedtopaythefinalcallRs.30pershareandhenceallthesharesareforfeited.What
amountistransferredtoSharesForfeitureAccount?
(a) Rs.9000 (b) Rs.21,000
(c) Rs.18,000 (d) Rs.27,000
35. GoodscostingRs.5,000giventoaemployeeforwagesRs.5,000.MarketpriceofthegoodsisRs.6,000.
Journal entrywillbe:
a) WagesA/cDr Rs.5,000
ToPurchasesA/c Rs.5,000
b) WagesA/cDr Rs.6,000
ToSalesA/c Rs.6,000
c) SalariesA/cDr. Rs.5,000
ToCashA/c Rs.5,000
d) Noneoftheabove
36. P,QandRwereequalpartnersinafirm.ThefirmhastakenindividuallifepoliciesRs.50,000foreach
partner.Pdiedon10thMay2011.ThesurrendervaluewasRs.2000foreachpolicy.Theamount
payabletoPinrespectofinsurancepolicieswouldbe________
(a) Rs. 18,000 (b) Rs. 2000
(c) Rs. 50,000 (d) Noneoftheabove
37. Opening and closing balance of debtors a/c were Rs.30,000 and Rs.40,000 respectively. Cash
collectedfromthedebtorsduringtheyearwasRs.2,40,000.Discountallowedfortimelypayment
amountedtoRs.15,000andbaddebtswrittenoffwereRs.10,000.Creditsalesare
(a) Rs. 2,55,000 (b) Rs. 2,45,000
(c) Rs. 2,75,000 (d) Rs. 2,95,000
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38. ALimitedforfeited500sharesofRs.20eachissuedat5%discount,fornonpaymentoffinalcall
moneyRs.14.Amountcreditedtoshareforfeiturea/c
(a) Rs. 2,500 (b) Rs. 7,500
(c) Rs. 7,000 (d) Noneoftheabove
39. A,BandCwerepartnerssharingprofitsandlossesintheratioof3:2:1.On1stApril,2006Bretired
andthenewprofitsharingratiobetweenAandCdecidedto3:2.On31stMarch2006thereserveof
firmareRs.24,000.Thisreservewillbedividedamongpartnersas:
(a) A-Rs. 8,000,B-Rs. 12,000, CRs. 4,000
(b) A-Rs. 12,000, B-Rs. 8,000, C-Rs. 4,000
(c) A-Rs. 4,000, B-Rs. 8,000, C-Rs. 12,000
(d) A-Rs. 8,000, B-Rs. 8,000, C-Rs. 8,000
40. Forthefinancialyear2005-06,thegrossprofitwasRs.1,75,000.DuringtheyearCarriageinward
Rs.15,000,personalexpensesofproprietorRs.75,000andCarriageoutwardRs.17,500.Baddebtsfor
theyearwereRs.12,000.Thenetprofitearnedfortheyear2005-06wouldbe:
(a) Rs.1,30,000 (b) Rs.1,45,500
(c) Rs.55,000 (d) Noneoftheabove
41. Whichaccountingconceptmakesadistinctionbetweenthereceiptofcashandtherighttoreceive
thecash?
(a) Accuralconcept (b) Goingconcernconcept
(c) Realisation concept (d) Alloftheabove
42. Goods sent on consignment costing Rs. 50,000. 25% of goods lost in transit, claim received
Rs.10,000.TheamountofabornomallosstobetransferredtoP&Laccountis
(a) Rs. 12,500 (b) Rs. 2,500
(c) Rs. 10,000 (d) Noneoftheabove
43. Openingstock400units@Rs.20perunit.Purchases200units@Rs.25perunit.Duringtheyear250
unitsaresold.ValueofclosingstockasperLIFOmethod
(a) Rs. 8,750 (b) Rs. 7,500 (c) Rs. 8,000 d) Rs. 7,000
44. HofHyderabadsentgoodscostingRs.6,00,000toAofAgra.Goodsweretobesoldatcostplus
331/3%.Theconsigneesentadvancetotheconsignerasa%ofsalesvalueandAsentaccordingly
Rs.4,80,000.Whatisthepercentageofsuchadvanceonsalesvalue?
(a) 80% (b) 50%
(c) 60% (d) 40%
45. Delcrederecommissionisgivenfor
(a) Tocoverriskofbaddebts
(b) Salesathigherpricethanspecified
(c) Early collection
(d) Alloftheabove
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46. Whichofthefollowingstatementistrue?
(a) Co-venturersalwayssharesprofitsandlossesequally
(b) Numberofco-venturecanneverbemorethantwo
(c) Therelationshipbetweenco-ventureisprincipalandagent
(d) Co-venturersmaycontributefundsforrunningtheventure
47. ExpenditureincurredofRs.20,000fortrialrunofanewasset:
(a) Deferredrevenueexpenditure (b) Revenueexpenditure
(c) Capitalexpenditure (d) Anyoftheabove
48. Whichoneisanevent?
(a) SalesofgoodsforRs.5,000 (b) PurchasesofgoodsforRs.8,000
(c) ClosingstockofworthRs.4,000 (d) Both(a)and(b)
49. ThecapitalofafirmisRs.6,00,000andaverageprofitsofthefirmareRs.1,50,000.Normalrateof
returnis20%.Valueofthegoodwillat3yearspurchaseofsuperprofit
(a) Rs. 90,000 (b) Rs. 60,000
(c) Rs. 75,000 (d) Negativegoodwill
50. XLtdforfeited800equitysharesofRs.10eachonnon-paymentoffinalcallofRs.5.Companyreis
sued400forfeitedsharesatRs.7asfullypaid.Amounttransferredtocapitalreserve?
(a) Rs. 800 (b) Rs. 4,000
(c) Rs. 1,600 (d) Rs. 1,200
51. Forvaluationofclosingstockonconsignment,whichofthefollowingexpensesarenotincluded?
(a) Carriage (b) Loading charges
(c) Insuranceofconsigneegodown (d) Octroi
52. AandBwerepartnerssharingprofitsandlossesintheratioof2:1.TheircapitalwasRs.90,000and
Rs.60,000.Theywereentitledforinterestoncapital@12%p.a.ThefirmearnedaprofitofRs.84,000
afterallowinginterestoncapital.Profitwillbedistributedamongthemwillbe
(a) Rs,44,000; Rs. 22,000 (b) Rs.42,000; Rs.42,000
(c) Rs.50,400;Rs.33,600 (d) Rs.56,000; Rs.28,000
53. XYZPrinterspurchasedamachineon1stApril,2009forRs.1,00,000.On1stOctober,2009other
machinecostingRs.50,000waspurchased.Depreciationwasprovidedat10%p.a.bySLMmethod.
Balanceofmachineaccounton31stMarch,2011.
(a) Rs.1,20,000 (b) Rs.1,35,000
(c) Rs.1,22,500 (d) Rs.96,000
54. Mr. X accepts a bill of Rs.5,000 drawn by Mr. Y for mutual accommodation. They shared the
fundsintheratioof1:4.ThebillisdiscountedforRs.4,900.TheamountofdiscountbornebyMr.Y
wouldbe:
(a) Rs.80 (b) Rs.60 (c) Rs.100 (d) Rs.40
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55. Fromthefollowinginformationcalculatethepurchasesmadeduringtheyear2012-13
OpeningstockRs.1,50,000 Cash sales Rs. 2,00,300
Credit sales Rs. 1,20,000 Closing stock Nil
Sellingpriceiscostplus25%
(a) Rs. 1,30,000 (b) Rs. 1,50,000
(c) Rs. 1,40,000 (d) Rs. 1,20,000
56. MrApurchasedgoodofRs.7,10,000andhissaleswasRs.8,42,000.RentforthefinancialyearRs.20,000
andotherexpensesRs.75,000andclosingstockworthRs.45,000inhand.Whatisgrossprofit
(a) Rs.1,77,000 (b) Rs.1,02,000
(c) Rs.82,000 (d) Rs.1,57,000
57. Whichofthefollowingerrorswillnoteffectthetrialbalance?
(a) SalariespaidRs.1000wronglypostedtosalariesaccountas10,000
(b) PurchasesbookwasovercostbyRs.5,000
(c) WhitewashingchargesRs.10,000weredebitedtobuildingaccount
(d) Noneoftheabove
58. A machine purchases for Rs. 5,00,000 has an estimated working life of 10,000 hours, scarp value
estimated Rs. 1,00,000. The working hours is as follows:
Year Hours(p.a) Year Hours(p.a) Year Hours(p.a)
1-2 1500 3-5 1000 6-10 800
Depreciationforthethirdyearwouldbe
(a) Rs. 40,000 (b) Rs. 30,000
(c) Rs. 50,000 (d) Rs. 55,000
59. Ahasdiscounteda3monthsbill@10%p.a.ForRs.11,700.Onduedatethebillwasdishonouredand
notingchargesareRs.50.Asaccountwillbedebitedbythebankfor
(a) Rs.13,050 (b) Rs.12,250 (c) Rs.11,950 (d) Rs.12,050
60. GoodsworthRs.10,000wasdestroyedbyfireandinsurancecompanyadmittedtheclaimof60%.The
journalentry
(a) LossbyFirea/cDr. Rs.10,000
ToPurchase a/c Rs.4,000
ToInsuranceCo.a/c Rs.6,000
(b) LossbyFirea/cDr. Rs.4,000
InsuranceCo.a/cDr. Rs.6,000
ToPurchase a/c Rs.10,000
(c) LossbyFirea/cDr. Rs.10,000
ToPurchase a/c Rs.6,000
ToInsuranceCo.a/c Rs.4,000
(b) LossbyFirea/cDr. Rs.6,000
InsuranceCo.a/cDr. Rs.4,000
ToPurchase a/c Rs.10,000
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61. ___________isgoodinsubstancebutsuffersfromsometechnicaldefect.
(a) IllegalContract (b) UnenforceableContract
(c) Valid (d) Void
62. HandingoverthekeysofaWarehouseamountsto______.
(a) Actualdelivery (b) Constructivedelivery
(c) Symbolicdelivery (d) Structureddelivery
63. _______arisewithoutacontract.
(a) ConditionalContract (b) WageringAgreement
(c) ContingentContract (d) QuasiContract
64. Whichofthefollowingstandinfiduciaryposition?
(a) DoctorandPatient (b) SolicitorandClient
(c) FatherandSon (d) Alloftheabove
65. Whichofthefollowingareessentialelementsofcontractofsale?
(a) TwoParties (b) Goods
(c) Bothaandb (d) Noneoftheabove
66. Intentiontonegotiatewithotherpartyis_______
(a) Valid Offer (b) Voidable
(c) InvitationtoOffer (d) Noneoftheabove
67. Anexecutedconsiderationis_______
(a) PromiseforaPromise (b) ExpectationofProposal
(c) ActinresponsetopositivePromise (d) None
68. Whichofthefollowingiscorrect.
(a) Strangertocontractcansue (b) Strangertocontractcannotsue
(c) Strangertoconsiderationcansue (d) Bothbandc
69. Thefollowingarenottheessentialelementsofconsideration
a) ItmustmoveatthedesireofthePromisor
b) Itmustbeadequate
c) ItmaybePast,PresentorFuture
d) None
70. ApersonwhopermitshimselftorepresenthimaspartnerofaFirmiscalled_______
a) SubPartner b) ActivePartner
c) SleepingPartner d) PartnerbyHoldingOut.
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CA-IPCC - 2012
- H.T. No. 252378
SECTION -B MERCANTILE LAW
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71. Anintentionalmis-representationamountsto_______
a) Coercion b) Mis-representation
c) Fraud d) Alloftheabove
72. SharingofProfitis_______evidence.
a) Conclusive b) NotConclusive
c) Bothaandb d) None
73. Whenoneormoretermsofcontractarecancelled,itiscalled______
a) Novation b) Rescission
c) Alteration d) Remission
74. Theenforceabilityofagreementrequires_____
a) LawfulConsideration b) Free Consent
c) LawfulObject d) Alloftheabove
75. Anauctionsaleiscompleteon______
a) FallofHammer b) Deliveryofgoods
c) Both
76. Handingoverdocumentoftitleis_______.
a) StructuredDelivery b) ActualDelivery
c) SymbolicDelivery d) Noneoftheabove
77. AcontractofSalewhichprovidesforpassingofpropertyonfullpaymentofpriceis______.
a) Sale b) AgreementtoSell
c) hirePurchase
78. Ondissolutionassetsaretransferredtorealizationaccountat______.
a) MarketValue b) BookValue
c) CostorMarketValue d) NoneoftheAbove.
79. DocumentissuedbyRailwaycompanyiscalled_______.
a) DockWarrant b) Mates Receipt
c) Railway Receipt d) Bill of Lading
80. Inwhichcaseoriginalcontractneednotbeperformed
a) Alteration b) Novation
c) Rescission d) Alloftheabove
81. AninsolventPartnerceasestobeapartnerfrom_______.
a) Thedateofdissolution b) Thedateofinsolvency
c) Thedateofintimation
82. Whichofthefollowingarethegroundsfordissolution?
a) Insanity b) Breach
c) Misconduct d) Alloftheabove
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83. DominationofWillbyonePartyovertheotheriscalled______.
a) Coercion b) Fraud
c) UndueInfluence d) Misrepresentation.
84. Resaleofgoodsbyunpaidsellergivesthebuyer_____.
a) Goodtitle b) NogoodTitle
c) GoodTitlewithconsentoforiginalbuyer d) AnyoftheAbove
85. Partnershipatwillistheone______.
a) Whichcanbedissolvedatwillofcreditors
b) Durationnotfixed
c) Whichdoesnotprovidehowlongthebusinesscontinue
d) None
86. EveryPartnerisboundtoattend_______tohisduties.
a) Sincerely b) Silently
c) Effectively d) Diligently
87. MerchantableQualitymeans________
a) NonDefectiveQuality b) Goodsarefitforthepurpose
c) GoodsMarketable d) Alloftheabove
88. RetiringPartnerisentitledtotheProfitsupto_____
a) Dissolution b) 31
st
March
c) Retirement d) NoProfit.
89. LawPublicomakesanoffertosaleabooktomembersofBarcouncilis______
a) GeneralOffer b) Specific Offer
c) Cross Offer d) CounterOffer
90. ______areenforceableonlywhenaUncertaineventhappens
a) WageringAgreement b) ConditionalContract
c) ContingentContract
91. WhichofthefollowingareImpliedWarranties
a) Quiet Possession
b) FreedomfromEncumbrance
c) Disclosureofdangerousnature
d) Alloftheabove
92. ContinuingGuaranteeissaidtoLapseorRevokeastofuturetransactionincaseof_______
a) Death b) Dissolution
c) ChangeinConstitution d) Insolvency
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93. AMinorinjuredhisleginamatchandgotitrepairedbyadoctor,Thedoctorcanclaimtheexpenses
from MinorsProperty.Thisis______.
a) Valid b) Invalid
c) Void d) Voidable
94. OnPassingofpropertytherightsandliabilitiesof______aredecided.
a) Seller b) Buyer c) Both d) None
95. XisemployedbyABCLtd.ForamonthlysalaryofRs.50,000and10%ofProfitsoftheFirm.Xis____
a) PartneroftheFirm
b) NotaPartneroftheFirm
c) Agent
96. AsoldmachinetoB,thepaymenttobemadeafteronemonth.Bfailedtomakepayment.Acan
exerciseright ofLienifhehas
a) HandedoverthemachinetoB
b) HandedoverthemachinetoBsAgent
c) Nothandedoverthemachinetoanyone
d) Anyoftheabove
97. AsperGarnerVsMurraycasethedeficiencymustbeboughtby_______
a) SolventPartnersinCapitalSharingRatio
b) SolventPartnersinProfitSharingratio
98. ThebalanceinJointLifePolicyaccountshows__________
a) AnnualPremium b) TotalAmountofPremium
c) SurrenderValue
99. Anagreementwithaemployeetopaycompensationwhileleavingtheorganizationbeforetheexpiry
oftermis____
a) Valid b) Void
c) Voidable d) Illegal
100. IfaPartnerdoesanactoutsidetheImpliedauthority,thepartnerscan_____
a) Ratifyordisclaimthewholetransaction
b) Ratifyordisclaimtheparttransaction
c) Eitheraorb
d) Bothaandb
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PART- A
1-B 2-D 3-A 4-B 5-A 6-A 7-D 8-C 9-C 10-C 11-C 12-C 13-B 14-D
15-B 16-A 17-A 18-A 19-A 20-D 21-B 22-A 23-C 24-D 25-C 26-B 27-A 28-C
29-D 30-B 31-A 32-B 33-A 34-C 35-A 36-A 37-C 38-A 39-B 40-B 41-A 42-B
43-D 44-C 45-A 46-D 47-C 48-C 49-A 50-A 51-C 52-D 53-C 54-A 55-A 56-A
57-C 58-A 59-D 60-B 61-B 62-C 63-D 64-D 65-C 66-C 67-C 68-D 69-B 70-D
71-C 72-B 73-B 74-D 75-A 76-C 77-B 78-B 79-C 80-D 81-B 82-D 83-C 84-A
85-C 86-D 87-D 88-C 89-B 90-C 91-D 92-C 93-A 94-C 95-B 96-C 97-A 98-C
99-A 100-A
NEW BATCHES
CA - IPCC
26
th
JULY 2013
(Admissions are in progress)
CA - CPT
LONG TERM
LONG TERM
27th June 2013
[for Dec 2013 Attempt]
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- H.T. No. 155712
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COURSES OFFERED
MEC+CA-CPT
CA-CPT
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CA-FINAL
Hyderabad - Guntur - Vijayawada - Vizag
EDUCATIONAL INSTITUTIONS
1. EXIM Bank started in _______.
(a) 1972 (b) 1982
(c) 1882 (d) 1798
2. NABARD established with :
(a) Shivaraman Committee (b) Narasimhan Committee
(c) Public accounts Committee (d) None of the above
3. Objective of Monetary Policy are :
(a) Price Stability (b) Employment Generation
(c) Exchange Rate Stability (d) All of the above
4. In disguised Unemployment marginal product of labour is ___
(a) One (b) Zero
(c) Doubled (d) Reduced
5. The quantity supplied is decreased by 10 % due to increase in the price by 20 % then elasticity is :
(a) 2 (b) 0.5
(c) 1.5 (d) 1
6. If elasticity is 2, AR is 5 then MR is :
(a) -2.5 (b) +1.5
(c) +2.5 (d) +2.0
7. In defense production Foreign Direct Investment is allowed ______ .
(a) 49 % (b) 51 %
(c) 74 % (d) 26%
8. Indifference curve is convex slope, the reason is ________
(a) Increasing Marginal Rate of Substitution
(b) Constant Marginal Rate of Substitution
(c) Diminishing Marginal Rate of Substitution
(d) None of the above
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9. Banking ombudsmen is :
(a) Appointed to recover dues from defaulting borrowers
(b) Appointed by RBI to oversee the functions of foreign banks
(c) Appointed to settle dispute between employees and management
(d) The customers can approach for redress of their grievances
10. Non Price competition is a main feature of _______.
(a) Monopoly (b) Perfect Competition
(c) Monopolistic Competition (d) All of the above
11. In Perfect Competition Price is determined by ______
(a) Firm (b) Industry
(c) Consumers (d) Economy
12. A free economys important motive is :
(a) Profit Motive (b) Welfare of people
(c) Rising levels of income of the people (d) All of the above
13. External economies occur when :
(a) Superior managerial skills
(b) Foreign Trade Policy
(c) External assistance
(d) Extension of transport and credit facilities
14. Economics is Neutral between ends statement given by
(a) Joan Robinson (b) Robbins (c) Marshall (d) AC Pigou
15. Short run price is _______
(a) Market price (b) Show case price
(c) Minimum retail price (d) None of the above
16. To reduce the value of domestic currency in terms of foreign currency is called as _______.
(a) Appreciation (b) Devaluation
(c) Depreciation (d) None of the above
17. Features of monopoly are __________from following
(a) AR & MR downward sloping (b) MR lies half way between AR and Y axis
(c) MR can be zero and negative (d) All of the above
18. The factors of production are owned by private entrepreneurs and main objective is profit motto is in
________ economy.
(a) Capitalist (b) Mixed
(c) Socialist (d) All of the above
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19. Measure of value of all good s and servies refers ____from following function of money.
(a) Medium of exchange (b) Unit of account
(c) Standard of different payments (d) Store of value
20. Utility analysis according to Marshall is called :
(a) Cardinal utility (b) Ordinal utility
(c) Both a and b (d) None of the above
21. In India the main objective of Disinvestment is :
(a) To provide funds for PSUs
(b) For better utilization of National Resources to improve the productivity of PSUs
(c) To improve the share holders interest in PSUs
(d) None of the above
22. Visible Exports and Visible Imports difference are shown in :
(a) Balance of Payments (b) Balance of services
(c) Balance of Trade (d) None of the above
23. Due to increase in cost of production inflation rises. This is called _______ .
(a) Cost push inflation (b) Demand pull inflation
(c) Stagflation (d) Deflation
24. The main objective of Regional Rural Bank is :
(a) To Monitor the activities of all Banks in Urban areas
(b) To act as a link between Rural Banks and RBI
(c) To provide credit and deposits facilities for agriculture and other productive activities
(d) To sponsor the Rural development programmes of government
25. Which of the following is a qualitative credit control measure ?
(a) Rationing of credit (b) Moral suation
(c) Direct action (d) All of the above
26. GNP at factor cost is equals to GNP at market prices (minus) _______ + subsidies
(a) Direct Taxes (b) Indirect Taxes
(c) Depreciation (d) None of the above
27. Purchasing power of money decreases, when _______
(a) Money supply falls (b) Income level increases
(c) Price level increases (d) Price level decreases
28. Which of the following is not included in Balance of Current account ?
(a) Interest (b) Dividends
(c) External commercial borrowings (d) Export earnings
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29. Pradhan Manthri Bharath Jodo Pariyojana started for :
(a) Communication development (b) National Highways Development
(c) Connection of Rivers (d) None of the above
30. The following are qualitative credit control methods except :
(a) Credit rationing (b) Moral suasion
(c) Margin requirements (d) Changes in the Cash Reserves of Banks
31. ______ is the static function of money from following
(a) Store of value (b) Standard of differed payments
(c) Medium of exchange (d) All of the above
32. The difference between GDP at market prices and GNP at market prices is :
(a) Net indirect taxes (b) NFIA
(c) Depreciation (d) Subsidies
33. In Oligopoly market, upper portion of Kinked demand curve is ______
(a) Inelastic (b) Elastic
(c) Perfectly elastic (d) Perfectly Inelastic
34. In Perfect Competition the Equilibrium price of an industry is determined by the intersection of ___.
(a) Market demand and Firm supply curve
(b) Market demand and Market supply curve
(c) Input and output
(d) None of the above
35. The reason for increasing returns is :
(a) Indivisibility of factors
(b) Greater specialization of factors of production
(c) Fuller Utility of fixed factors
(d) All of the above
36. Due to inflation which of the following group suffers more ?
(a) Real asset holders (b) Debtors
(c) Creditors (d) None of the above
37. Bank rate is to :
(a) The rate at which Central Bank discounts the bills of commercial banks
(b) The rate at which Commercial Banks discounts the bills of Central Bank
(c) Both a and b
(d) None of the above
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38. The curve which is down ward sloping to right through out its entire length but donot touch the
x-axis is _______
(a) Average Variable cost (b) Average fixed cost
(c) Marginal cost (d) All of the above
39. The total cost of production of a Firm is Rs.1,25,000 out of which Implicit cost is Rs.35,000 and
Normal Profit is Rs.25,000 . What is the Explicit cost of commodity ?
(a) Rs.1,25,000 (b) Rs.70,000
(c) Rs.65,000 (d) Rs.1,90,000
40. If you have given employment to 400 workers as a factory owner, if 10 workers are dismissed by
you without loss of production then this situation may be described as ______
(a) Structural Unemployment
(b) Technoligical Unemployment
(c) Frictional Unemployment
(d) Disguised Unemployment
41. Deductive method and Inductive method are complementory to each other. This statement is :
(a) Absolutely correct (b) Absolutely Incorrect
(c) Cannot be said (d) None of the above
42. The indiffernce curve is in case of Perfect Complements :
(a) U shaped (b) L shaped
(c) Straight Line (d) Convex
43. What is the shape of indifference curve if Marginal Rate of Substitution is Increasing ?
(a) Convex (b) Concave
(c) U shaped (d) All of the avove
44. Opportunitunity cost is relevant for _______ .
(a) Resources having Limited uses (b) Resources having no uses
(c) Resources having alternative uses (d) None of the above
45. External Diseconomies may lead to _____
(a) Increase in cost of technology
(b) External Assistance
(c) Increase in the price of factors of production
(d) None of the above
46. The following are related to Tenancy Reforms expect :
(a) Consolidation of holdings (b) Regulation of rent
(c) Security of tenure
(d) Confirmant of Ownership Rights on Tenants
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47. If the original price is Rs.500 and original quantity demanded is 20 kgs . If the price raises to Rs.750
and changed quantity demanded is 15 kgs then elasticity is_______.
(a) 0.5 (b) 1
(c) 0.25 (d) 1.50
48. If the price of the commodity increases from Rs.5 to Rs.6 and the demand decreases from 8 units to
4 units then price elasticity of demand is _____
(a) 1.5 (b) 1.0
(c) 2.0 (d) 2.5
49. The following are objectives of RBI except :
(a) Monetory Stability
(b) Maintaining of Foreign Exchange Reserves
(c) Issue of Currency
(d) Lending to the Public
50. Direct costs are also known as _______.
(a) Real costs (b) Indirect costs
(c) Traceable costs (d) Opportunity costs
SECTION-D QUANTITATIVE APTITUDE
51. If
1
( ) log
1
x
f x
x
+ | |
=
|

\ .
, then
2
2
1
x
f
x
| |
|
+
\ .
is equal to
(a) ( ) f x (b) 2 ( ) f x
(c) 3 ( ) f x (d) None of the above
52. If log ,
t
x t y e = = then
dy
dx
=
(a) 1/t (b)
t
te
(c)
2
1
1

(d) None of the above


53.
3 2
2 3 5
x x x
dx =
}
_____
(a) (b)
3 2
2 3 5
log(360)
x x x
C +
(c) (d) None of the above
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54. The union forbids employer to employ less than two experienced persons (x) to each fresh person (y).
this situation can be expressed as :
(a) / 2 x y s (b) / 2 y x s
(c) / 2 y x > (d) None
55. A polygon has 44 diagonals then the number of its sides are
(a) 8 (b) 9 (c) 10 (d) 11
56.
1
1
0
2 3
lim
x
x
x
e x
e x
+

=
+
(a) -3 (b) 0 (c) 2 (d) None
57. The value of x in the equation
2
(log 2) log 2
x
x
=
(a) 16 (b) 32
(c) 8 (d) None
58. Let A={1,2,3} then the relation R={(1,1), (2,3), (2,2), (3,3)(1,2) is
(a) Symmetric (b) Transitive
(c) Reflexive (d) None
59. The mean proportional between 24 and 54 is
(a) 33 (b) 34 (c) 35 (d) 36
60. If
n
S of an A.P is
2
3n n
and its common difference is 6, then its first term is
(a) 2 (b) 3 (c) 4 (d) None
61. The number of arrangements that can be formed out of the letters of the word ARTITCLE so that
vowels occupy even places is :
(a) 36 (b) 144 (c) 574 (d) None
62. If o and | are the roots of the equation
2
7 12 0 x x + + =
, then the equation whose roots are
2
( ) o | +
and
2
( ) o | is:
(a)
2
14 49 0 x x + + =
(b)
2
24 144 0 x x + =
(c)
2
50 49 0 x x + =
(d) None
63. If the sum of the 4th term and the 12th term of an A.P is 8, what is the sum of the first 15 terms of the
progression?
(a) 60 (b) 120 (c) 110 (d) None
64. The type of Quadrilateral formed by the vertices (1,1), (4,4), (4,8), (1,5)
(a) Parallelogram (b) Square
(c) Rhombus (d) Rectangle
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65. If three points (1,3) (-2,1) and (k,1) are collinear then the value of k is
(a) 0 (b) 5 (c) -5 (d) None
66. If log
y
y x = , then
dy
dx
is equal to:
(a)
1
log x y +
(b)
1
log x x y +
(c) (d) None
67. In a group of 10 persons, the number of ways of shaking hands is
(a) 45 (b) 54 (c) 90 (d) 10
68.
2
1
{log ( )}
( 1)
n
e
ex
dx n
x
=
}
(a)
1
[{log (2 )} 1]
1
n
e
e
n
+

+
(b)
(c) (d) None
69. Evaluate
( 2)! (n 1)!
lim
( 2)! (n 1)!
n
n
n

+ + +
+ +
(a) 1 (b) 2 (c)

(d) 0
70. The triplicate ratio of 4:5 is _______
(a) 125:64 (b) 16:25 (c) 64:125 (d) 120:46
71. A pie diagram is used to represent the following data
source customs excise incometax wealth tax
Revenue in
Million Rupees: 120 180 240 180
The central angles in the pie diagram corresponding the income tax and wealth tax are respectively
(a)
0 0
(120 , 90 ) (b)
0 0
(90 ,120 )
(c)
0 0
(60 ,120 ) (d) None
72. A sampling technique is used to estimate for popualtion means for different segments and also an
overall estimate is :
(a) Systematic sampling (b) Stratified sampling
(c) Multistage sampling (d) Simple random sampling
73. If n A.Ms means are inserted between 7& 71 and 5th A.M is 27, then n is
(a) 15 (b) 16 (c) 17 (d) None
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74. If
6
T of G.P is 729 and the common ratio is 3, then the first term of G.P is
(a) 2 (b) 3 (c) 4 (d) None
75. If ( ) 2, ( ) 7
x
f x x g x = + = then ( ) gof x =______
(a) (b)
7 2
x
+
(c) 49(7 )
x
(d) None
76. The difference between compound and simple interest on a certain sum of money for 2years at 4%
p.a. is Rs. 1. The sum is
(a) 625 (b) 630 (c) 640 (d) None
77. A sum of money when compounded annually becomes Rs. 1,140 in two years and Rs. 1,710 in three
years. Then the rate of interest per annum is
(a) 80% (b) 40% (c) 50% (d) None
78. Mean = 4 and Variance = 3 of binomial distribution, then mode is
(a) 4 (b) 4.25 (c) 4.1 (d) 4.5
79. The probability of selecting a sample of size n of population N by SRSWR is:
(a)
1
N
n
C
(b)
1
N
(c)
1
n
N
(d) None
80. If sum of squares of the values = 3390, SD = 7, N = 30, then Mean =
(a) 113 (b) 8 (c) 210 (d) None
81. If r be the Karls Pearsons coefficient of correlation in a bivariate distribution then the two regression
lines are at right angle if:
(a) r = 0 (b) r =

1
(c) r =

any finite value < 1 (d) None


82. G M of 8, 4, 2 is:
(a) 2 (b) 4
(c) 8 (d) None
83. Which of the following measure of Central tendency cannot be measured by through graph.
(a) Mean (b) Median
(c) Geometric mean (d) Mode
84. Mean = 100, C.V. = 45% then S.D. =
(a) 0.45 (b) 4.5
(c) 45 (d) None
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85. In a poisson distribution:
(a) Mean and S.D. are equal (b) Mean and Variance are equal
(c) (d) S.D. and Variance are equal
86. Time reversal test is satisfied by
(a) Laspeyres Formula (b) Paasches Formula
(c) Fishers Formula (d) None
87. The probability of drawing two spades one after the other with out replacement is
(a) 2/51 (b) 3/51 (c) 4/51 (d) 5/51
88. The odds in favour of three independent reviewers are 5 to 2, 4 to 3, and 3 to 4 respectively. What is
the probability that out of the three reviewers a majority will be :
(a) 209/350 (b) 209/443
(c) (d) 209/343
89. Two variables X and Y are related by a linear equation 4X + 3Y = 7. Then X and Y are:
(a) Positively correlated (b) Negatively correlated
(c) Not related (d) None
90. The coefficient of corelation between two variables is 0.28. Covariances = 7.6, Variance of x = 9, S.D
of Y =
(a) 8.048 (b) 9.048 (c) (d) None
91. A player tosses 3 coins. He wins Rs.5 if 3 heads appear, Rs.3 if 2 heads appear, Rs.1 if 1 heads appear
and he losses Rs.15 if 3 tails occur. Find the expected mean.
(a) 0.15 (b) 0.45 (c) 0.25 (d) None
92. Laspayers index = 180, Bowley index = 150, Pasches index =
(a) 30 (b) 120 (c) 150 (d) None
93. If the regression equations are 8x - 3y + 50 = 0 and 14x - 7y - 60 = 0. S.D = 1, r = ?
(==(a) (a) 0.87 (b) -0.87 (c) None (d)
94. A box contains 2 red, 3 green and 2 blue balls. Two balls are drawn a at random. What is the probability
that none of the balls drawn are blue?
(a) 10/21 (b) 11/21 (c) 2/17 (d) None
95. The average age of 15 students in a class is 15 years. Out of these 9 students, average age is 16 years.
The other 5 students average age is 14 years. The age of 15th student is:
(a) 15 years (b) (c) 11 years (d) None
96. In a B.D of 5 independent trials, probability of 2 and 3 successes are 0.4362 and 0.2181. Value of p is
(a) 3/4 (b) 1/3
(c) 2/3 (d) None
All India8th Rank in
DOUBLE
RANK
HOLDER
All India13th Rank in
A. MADHANI
CA-CPT - 2011
- H.T. No. 154936
CA-IPCC - 2012
- H.T. No. 252378
11 NoPh
Ph : 98490 74331 ; 88855 74331
Tapasya Educational Institutions Learning is Awakening
visit us : www.tapasyaforca.com
CA-CPT JUNE-2013 Question Paper
97. In the year 2005 the whole sale price index is 286 with 1995 as base. By how much the prices have
increased in 2005 with respect to the base year.
(a) 86% (b) 186%
(c) 286% (d) None
98. The 99% confidence limits for population mean are:
(a)
X
1.96 S.E. (b)
X
2.58 S.E.
(c)
X
3.00 S.E. (d) None
99. An approximate relation between Q.D. and S.D. of normal distribution is:
(a) 3 QD = 2 SD (b) 2 QD = 3 SD
(c) 4 QD = 5 SD (d) None
100. Which of the following is not a characteristics of a normal distribution.
(a) It is Symmetric (b) Mean = Median = Mode
(c) (d) It is a multi modal
*****
PRIYANKA VERMA
STATE1st Rank in
Jr. Intermediate- 2013
- H.T. No. 1328122068
12 NoPh
Ph : 98490 74331 ; 88855 74331
Tapasya Educational Institutions Learning is Awakening
visit us : www.tapasyaforca.com
CA-CPT JUNE-2013 Question Paper
PART- B
1-B 2-A 3-A 4-B 5-B 6-C 7-D 8-C 9-D 10-C 11-B 12-A 13-D 14-B
15-A 16-B 17-D 18-A 19-B 20-A 21-B 22-C 23-A 24-C 25-D 26-B 27-C 28-C
29-B 30-D 31-D 32-B 33-B 34-B 35-D 36-C 37-A 38-B 39-C 40-D 41-A 42-B
43-B 44-C 45-C 46-A 47-A 48-D 49-D 50-C 51-B 52-B 53-B 54-B 55-D 56-C
57-A 58-C 59-D 60-A 61-B 62-C 63-A 64-A 65-C 66-B 67-A 68-A 69-A 70-C
71-A 72-B 73-A 74-B 75-C 76-A 77-C 78-A 79-C 80-B 81-A 82-B 83-A 84-C
85-B 86-C 87-B 88-D 89-B 90-B 91-C 92-B 93-A 94-A 95-C 96-B 97-B 98-B
99-A 100-D
NEW BATCHES
CA - IPCC
26
th
JULY 2013
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CA - CPT
LONG TERM
LONG TERM
27th June 2013
[for Dec 2013 Attempt]

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