Hey Guys look At Once C.A CPT Question paper

Question 1. 1. External Econimics Is Form Of--

1. Firm
2. Group Of Firm
3. Society
4. None Of These

2. Which Of Market Structure Is Known As Ideal Market Structure ?

1. Monopoly
2. Monopoly Competitation
3. Perpect Competation
4. OligopolY




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Question 2. 1. External Econimics Is Form Of--

1. Firm
2. Group Of Firm
3. Society
4. None Of These

2. Which Of Market Structure Is Known As Ideal Market Structure ?

1. Monopoly
2. Monopoly Competitation
3. Perpect Competation
4. OligopolY




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Question 3. 1. External Econimics Is Form Of--

1. Firm
2. Group Of Firm
3. Society
4. None Of These

2. Which Of Market Structure Is Known As Ideal Market Structure ?

1. Monopoly
2. Monopoly Competitation
3. Perpect Competation
4. OligopolY




Posted By: AMIT SHILIMKAR Answer Count : [0] Post Your Answer
Question 4. I need CPT sample question papers, can anyone help me out?

Answer:
thank you from sushnat


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Question 5. I need CPT entrance exams past solved papaers plz help me




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Question 6. j

Answer:
j


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Question 7. Revenue from sale of products, is generally, recognized in the period in which

(a)Sale is made.
(b)Cash is collected
(c) Products are manufactured.
(d) None of the above.

Answer:
sales made


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Question 8. Hello everybody,

I want to give CPT exam in Dec 2008. Can anyone provide me CPT papers in Hindi language?

Answer:
i have some model papers in hindi language ,but how ui give u my number is 9352894700 ok i m waiting ur responce bye have a good day


Posted By: nilam parab Answer Count : [1] Post Your Answer
Question 9. 1. if A=B/2=C/5, then A:B:C is
(a)3:5:2 (b) 2:5:3 (c) 1:2:5 (d) none of the above
(plese give the solution for the above)

2.P,Q & R are three cities. the ratio of average tempareture between P and Q is 11:12 and that between P and R is 9:8. the ration between the average temparature of Q and R is
(a)22:27 (b) 27:22 (c) 32:33 (d) none of the above
(plese give the solution for the above)

Answer:
(a)-c
(b)-b


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Question 10. I need Solved Past CPT Papers.. Can anyone please
help me out??

Answer:
please sir i prepaid cpt examination plz send sir model paper


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Question 11. I need quantitative aptitude question paper




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Question 12. Sales for the year ended 31st march,2005 amounted to rs.10,00,000.sales included goods sold to mr.A for rs.50,000. at a profit on cost.Such goods are still lying in the godown at the buyer's risk.Therefore,such goods should be treated as part of....?

(a) Sales
(b)closing stock
(c)Goods in Transit
(d)None of these

Answer:
(a) is correct anshwer because the goods is the risk of buyer's then the risk of buyer so the goods is treated by sales ok


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Question 13. A new firm commenced business on 1st January, 2006 and purchased goods costing Rs. 90,000 during the year. A sum of Rs. 6,000 was spent on freight inwards. At the end of the year the cost of goods still unsold was Rs. 12,000. Sales during the year Rs.1,20,000. What is the gross profit earned by the firm?

(a) Rs. 36,000
(b) Rs. 30,000
(c) Rs. 42,000
(d) Rs. 38,000

Answer:
a is correct answer.


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Question 14. Original cost = Rs 1,26,000. Salvage value = 6,000. Useful Life = 6 years. Annual depreciation under SLM will be

(a) Rs.21,000
(b) Rs.20,000
(c) Rs.15,000
(d) Rs.14,000

Answer:
b is correct.


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Question 15. If Cost of goods sold is Rs.80,700, Opening stock Rs.5,800 and Closing stock Rs.6,000. Then the amount of purchase will be

(a) Rs.80,500
(b) Rs.74,900
(c) Rs.74,700
(d) Rs.80,900.

Answer:
d is correct.


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Question 16. Line Method (SLM) of depreciation. In the current year it changed its method from straight Line to Written Down Value (WDV) Method, since such change would result in the additional depreciation of Rs. 200 lakhs as a result of which the firm would qualify to be declared as a sick industrial unit. The auditor raised objection to this change in the method of depreciation.

The objection of the auditor is justified because

(a) Change in the method of depreciation should be done only with the consent of the auditor
(b) Depreciation method can be changed only from WDV to SLM and not vice versa
(c) Change in the method of deprecation should be done only if it is required by some statute and change would result in appropriate presentation of financial statement
(d) Method of depreciation cannot be changed under any circumstances.

Answer:
c is correct.


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Question 17. Mr. A purchased a machinery costing Rs. 1,00,000 on 1st October, 2005. Transportation and installation charges were incurred amounting Rs. 10,000 and Rs. 4,000 respectively. Dismantling charges of the old machine in place of which new machine was purchased amounted Rs. 10,000. Market value of the machine was estimated at Rs. 1,20,000 on 31st March 2006. While finalising the annual accounts, A values the machinery at Rs. 1,20,000 in his books.

Which of the following concepts was violated by A?

(a) Cost concept
(b) Matching concept
(c) Realisation concept
(d) Periodicity concept.

Answer:
a is correct.


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Question 18. The number of production or similar units expected to be obtained from the use of an asset by an enterprise is called as _________

(a) Unit life
(b) Useful life
(c) Production life
(d) Expected life

Answer:
b is correct.


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Question 19. The purpose of accommodation bill is_______

(a) To finance actual purchase or sale of goods
(b) To facilitate trade transmission
(c) When both parties are in need of funds
(d) None of the above

Answer:
c is correct.


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Question 20. The parties to joint venture is called_________

(a) Co-venturers
(b) Partners
(c) Principal & Agent
(d) Friends

Answer:
a is correct.


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Question 21. The owner of the consignment stock is________

(a) Consignor
(b) Consignee
(c) Debtors
(d) None

Answer:
a is correct.


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Question 22. Interest on capital will be paid to the partners if provided for in the agreement but only from________

(a) Profits.
(b) Reserves.
(c) Accumulated Profits.
(d) Goodwill.

Answer:
a is correct answer.


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Question 23. Profit or loss on revaluation is shared among the partners in _______ ratio.

(a) Old Profit Sharing.
(b) New Profit Sharing.
(c) Capital.
(d) Equal.

Answer:
a is correct.


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Question 24. At the time of death of a partner, firm gets ________ from the insurance company against the Joint Life Policy taken jointly for all the partners.

(a) Policy Amount.
(b) Surrender Value.
(c) Policy Value for the dead partner and Surrender Value for the rest.
(d) Surrender Value for all the partners.

Answer:
a is correct.


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Question 25. Dividends are usually paid as a percentage of ______

(a) Authorized share capital
(b) Net profit
(c) Paid-up capital
(d) Called-up capital

Answer:
c is correct.


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Question 26. Loss on issue of debentures is treated as ____________.

(a) Intangible asset
(b) Current asset
(c) Current liability
(d) Miscellaneous expenditure

Answer:
d is correct.


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Question 27. Discount on issue of debentures is a __________

(a) Revenue loss to be charged in the year of issue
(b) Capital loss to be written off from capital reserve
(c) Capital loss to be written off over the tenure of the debentures
(d) Capital loss to be shown as goodwill

Answer:
c is correct.


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Question 28. Which of the following statement is not true:

(a) If del-creder’s commission is allowed, bad debt will not be recorded in the books of consignor
(b) If del-creder’s commission is allowed, bad debt will be debited in consignment account
(c) Del-creder’s commission is allowed by consignor to consignee
(d) Del-creder’s commission is generally relevant for credit sales

Answer:
b is correct.


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Question 29. Which of the following are of capital nature?

(a) Purchase of a goods
(b) Cost of repair
(c) Wages paid for installation of machinery
(d) Rent of a factory

Answer:
c is correct.


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Question 30. Which of the following errors are not revealed by the Trial Balance:

(a) compensating errors;
(b) errors of commission;
(c) wrong balancing of an account;
(d) wrong totalling of an account

Answer:
a is correct.


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Question 31. Fundamental accounting assumptions are

(a) Materiality.
(b) Business entity.
(c) Going concern.
(d) Dual aspect

Answer:
c is correct.


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Question 32. In the absence of any provision in the partnership agreement, profits and losses are shared

(a) In the ratio of capitals.
(b) Equally.
(c) In the ratio of loans given by them to the partnership firm.
(d) None of the above.

Answer:
b is correct.


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Question 33. While finalizing the current year’s profit, the company realized that there was an error in the valuation of closing stock of the previous year. In the previous year, closing stock was valued more by Rs.50,000. As a result

(a) Previous year’s profit is overstated and current year’s profit is also overstated
(b) Previous year’s profit is understated and current year’s profit is overstated
(c) Previous year’s profit is understated and current year’s profit is also understated
(d) Previous year’s profit is overstated and current year’s profit is understated

Answer:
d is correct answer.


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Question 34. A Bank Reconciliation Statement is prepared to know the causes for the difference between:

(a) the balances as per cash column of Cash Book and the Pass Book.
(b) the balance as per bank column of Cash Book and the Pass Book.
(c) the balance as per bank column of Cash Book and balances as per cash column of Cash Book
(d) None of the above.

Answer:
b is correct.


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Question 35. Purchases book records:

(a) All cash purchases.
(b) All credit purchases.
(c) Credit purchases of goods in trade.
(d) None of the above.

Answer:
B is correct.


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Question 36. A change in accounting policy is justified

(a) To comply with accounting standard.
(b) To ensure more appropriate presentation of the financial statement of the enterprise.
(c) To comply with law.
(d) All of the above.

Answer:
D is correct.


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Question 37. RPC Ltd. follows the written down value method of depreciating machinery year after
year due to
(a) Comparability.
(b) Convenience.
(c) Consistency.
(d) All of the above.

Answer:
C is correct.