
	Trending ▼ ICSE CBSE 10th ISC CBSE 12th CTET GATE UGC NET Vestibulares ResFinder

CA CPT : Volume 1 - Model Test Paper 4 (with Answers)

31 pages, 200 questions, 2 questions with responses, 2 total responses,

	CA CPT CA Common Proficiency Test (CPT), Mumbai	+Fave Message
	Profile Timeline Uploads

Home > ca_cpt >

Formatting page ...

BOARD OF STUDIES THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA COMMON PROFICIENCY TEST Model Test Paper BOS/CPT 4 Time : 4 hours Maximum Marks : 200 The test is divided into four sections. Every correct answer carries + 1 mark each and 0.25 mark will be deducted for each wrong answer. SECTION A : FUNDAMENTALS OF ACCOUNTING (60 MARKS) 1. In the books of manufacturing concern, opening inventory consists of (a) (c) 2. Work-in-progress All of the above Both opening stock and closing inventory do not appear in the trial balance Closing inventory is shown in the trial balance and not the opening inventory Opening inventory is shown in the trial balance and not the closing inventory Both opening and closing inventory appear in the trial balance Following is the example of external users of financial statements: (a) (c) 4. (b) (d) When adjusted purchase is shown on the debit column of the trial balance then (a) (b) (c) (d) 3. Raw materials Finished goods Government Management (b) (d) Owners Employees Business unit is separate and distinct from the person who supply capital to it , is based on (a) (c) Money measurement concept Business entity concept Common Proficiency Test (CPT) Volume - I The Institute of Chartered Accountants of India (b) (d) Going concern concept Dual aspect concept 85 MODEL TEST PAPER - 4 5. State the case where the going concern concept is applied? (a) (b) (c) (d) 6. If two or more transactions of the same nature are journalised together having either the debit or the credit account common is known as (a) (c) 7. At the time of preparation of the trial balance Without waiting the accounting year to end After the preparation of final accounts In the next accounting year Drawer Payee (b) (d) Drawee All of the above Trading account Balance Sheet (b) (d) Profit and loss account Either to (a) or (b) A _______ is sent to a customer when he returns the goods. (a) (c) 12. Higher than the balance shown by the cashbook by the amount of unpresented cheque Lower than the balance shown by the cashbook by the amount of unpresented cheque Same as shown by the cashbook None of the above All the expenditures and receipts of revenue nature go to (a) (c) 11. Separate journal entry None of the above Parties to a bill of exchange are (a) (c) 10. (b) (d) Whenever errors are noticed in the accounting records, they should be rectified (a) (b) (c) (d) 9. Compound journal entry Posting If the cheque issued is not presented for the payment upto the date of the preparation of the Bank Reconciliation Statement, then the balance as per Pass Book will be (a) (b) (c) (d) 8. When an enterprise was set up for a particular purpose, which has been achieved, or to be achieved shortly When a receiver or liquidator has been appointed in case of a company which is to be liquidated Fixed assets are acquired for use in the business for earning revenues and are not meant for resale When an enterprise is declared sick Debit note Proforma invoice (b) (d) Credit note None of the above Noting charges are paid at the time of _______ of a bill. (a) (c) Retirement Dishonour 86 The Institute of Chartered Accountants of India (b) (d) Renewal None of the above Common Proficiency Test (CPT) Volume - I 13. Depreciation of fixed assets is an example of _______ expenditure. (a) (c) 14. Accounts of A and B both Cash account (b) (d) A s account only B s account only Working hours method Revaluation method (b) (d) Replacement method Production units method A bill drawn outside India and made payable outside India A bill drawn outside India and made payable in India A bill drawn outside India on a person resident in India A bill drawn in India on a person resident outside India and made payable outside India Profit and Loss adjustment Account Old partners capital accounts Revaluation account Memorandum revaluation account A suspense account facilitates the preparation of ______ even when the ______ has not tallied. (a) (b) (c) (d) 20. Expense None of the three General reserve at the time of admission of a new partner is transferred to ______. (a) (b) (c) (d) 19. (b) (d) As per section 12 of Negotiable Instruments Act, which of the following is not a foreign bill? (a) (b) (c) (d) 18. Loss Gain In _______ method, depreciation is charged by allocating depreciable cost in proposition of the annual output to the probable life-time output. (a) (c) 17. Deferred revenue None of the above An amount of Rs.200 received from A credited to B would affect _______ (a) (c) 16. (b) (d) Interest on drawings is _______ for the business. (a) (c) 15. Revenue Capital Ledgers; Trial balance Financial statements; Trial Balance Trial balance; Financial statements Journal; Trial balance Recording of a transaction in the ledger is called ______ . (a) (c) Costing Journalizing Common Proficiency Test (CPT) Volume - I The Institute of Chartered Accountants of India (b) (d) Balancing Posting 87 MODEL TEST PAPER - 4 21. Accounting has certain norms to be observed by the accountants in recording of transactions and preparation of financial statements. These norms reduce the vagueness and chances of misunderstanding by harmonizing the varied accounting practices. These norms are (a) (c) 22. (b) (d) Historical cost concept Revenue recognition Rs. 20,000 Rs. 1,00,000 (b) (d) Rs. 24,000 Nil Rs.1,045 Rs.1,100 (b) (d) Rs.2,750 Rs.2,760 A firm purchases a 5 years lease for Rs. 40,000 on 1st January. It decides to write off depreciation on the Annuity method, presuming the rate of interest to be 5% per annum. The annuity for it is 0.230975. The amount of annual depreciation will be (a) (c) 26. Money measurement principle Full disclosure principle Trade receivables on 31st March 2010 are Rs.55,200. Further bad debts are Rs.200. Provision for doubtful debts are to be made on Trade receivables @ 5% and also provision of discount is to be made on Trade receivables @ 2%. The amount of provision of doubtful debts will be (a) (c) 25. Accounting notes Accounting framework Mr. A started a business on 1st January 2009 with Rs. 5,00,000. During the year he bought goods worth Rs. 1,00,000 on credit and sold 80% of the same goods at profit of 20% on cost. At the end of the year 2009, the amount of opening inventory to be shown in the trial balance of Mr. A will be (a) (c) 24. (b) (d) RPG Ltd. purchased equipment from PQR Ltd. for Rs.50,000 on 1st April, 2009. The freight and cartage of Rs.2,000 is spent to bring the asset to the factory and Rs.3,000 is incurred on installing the equipment to make it possible for the intended use. The market price of machinery on 30th April, 2010 is Rs.60,000 and the accountant of the company wants to disclose the machinery at Rs.60,000 in financial statements. However, the auditor emphasizes that the machinery should be valued at Rs.55,000 (50,000+2,000+3,000) according to: (a) (c) 23. Accounting regulations Accounting standards Rs. 8,000 Rs. 9,239 (b) (d) Rs. 2,000 Rs. 6,000 The balance of machine on 31st March 2010 is Rs.72,900 (after charging depreciation of the year). The machine was purchased on 1st April 2007 charging depreciation @10% p.a. by diminishing balance method. The cost price of the machine as on 1st April 2007 would be (a) (c) Rs. 1,00,000 Rs. 81,000 88 The Institute of Chartered Accountants of India (b) (d) Rs. 90,000 Rs. 72,900 Common Proficiency Test (CPT) Volume - I 27. On May 01, 2009, Y Ltd. issued 7% 40,000 convertible debentures of Rs.100 each at a premium of 20%. Interest is payable on September 30 and March 31, every year. Assuming that the interest runs from the date of issue, the amount of interest expenditure debited to Profit and Loss Account for the year ended March 31, 2010 will be (a) (c) 28. 7 years 20 years 60 shares; Rs.120 320 shares; Rs.200 (b) (d) 340 shares; Rs.160 300 shares; Rs.240 Debited by Rs. 2,000 Credited by Rs. 1,600 (b) (d) Debited by Rs. 1,600 Debited by Rs. 1,200 Rs. 6,000 Nil (b) (d) Rs. 1,500 Rs. 2,000 A company sends its cars to dealers on sale or return basis. All such transactions are however treated like actual sales and are passed through the sales day book. Just before the end of the financial year, two cars which had cost Rs.55,000 each have been sent on sale or return and have been debited to customers at Rs.75,000 each, cost of goods lying with the customers will be (a) (c) 33. (b) (d) R, J and D are partners sharing profits in the ratio 7:5:4. D died on 30th June 2010 and profits for the accounting year 2009-2010 were Rs. 24,000. How much share in profits for the period 1st April 2010 to 30th June 2010 will be credited to D s Account? (a) (c) 32. 6 years 8 years Z Ltd. issued 10,000 shares of Rs.10 each. The called up value per share was Rs.8. The company forfeited 200 shares of Mr. A for non-payment of 1st call money of Rs.2 per share. He paid Rs.6 for application and allotment money. On forfeiture, the share capital account will be _________. (a) (c) 31. Rs. 2,33,333 Rs.2,56,667 E Ltd. had allotted 10,000 shares to the applicants of 14,000 shares on pro-rata basis. The amount payable on application is Rs.2. F applied for 420 shares. The number of shares allotted and the amount carried forward for adjustment against allotment money due from F will be (a) (c) 30. (b) (d) A company cannot issue redeemable preference shares for a period exceeding (a) (c) 29. Rs. 2,80,000 Rs. 3,36,000 Rs.1,10,000 Rs. 75,000 (b) (d) Rs. 55,000 None of the above A second hand car is purchased for Rs. 10,000, the amount of Rs. 1,000 is spent on its repairs, Rs. 500 is incurred to get the car registered in owner s name and Rs. 1,200 is paid as dealer s commission. The amount debited to car account will be (a) (c) Rs. 10,000 Rs. 11,500 Common Proficiency Test (CPT) Volume - I The Institute of Chartered Accountants of India (b) (d) Rs. 10,500 Rs. 12,700 89 MODEL TEST PAPER - 4 34. A bill of Rs. 12,000 was discounted by A with the banker for Rs. 11,880. At maturity, the bill returned dishonoured, noting charges Rs 20. How much amount will the bank deduct from A s bank balance at the time of such dishonour? (a) (c) 35. Rs. 2,500 None of the above Rs. 65 Rs. 60 (b) (d) Rs. 55 Rs. 50 Rs.14,000 Rs.21,000 (b) (d) Rs.27,375 Nil Rs.500 Rs.600 (b) (d) Rs.400 Rs.1,000 Balance as per cash book is Rs. 5,000. Cheques issued but not presented for payment Rs. 2,000 and cheques sent for collection but not collected Rs. 1,500. The Bank had wrongly debited the account of firm by Rs. 20. Balance as per pass book will be (a) (c) 40. (b) (d) A to whom 100 shares of Rs.10 each was allotted at par, paid Rs.3 on application, Rs.3 on allotment but could not pay the first and final call money of Rs.4. His shares were forfeited by the directors. The amount to be credited to shares forfeited account will be (a) (c) 39. Rs. 3,125 Rs. 3,000 Mohan and Sohan are partners in a firm sharing profits and losses in the ratio 5:3. The firm earned profits during last four years amounting Rs.18,000, Rs.8,500 (loss), Rs.30,000 and Rs.16,500 respectively. The value of goodwill on the basis of one and a half year s purchase of average profits of last four years will be (a) (c) 38. Rs. 11,880 Rs. 11,900 Mr. X is a partner in a firm. He withdraws Rs.200 at the end of each month. If rate of interest on drawings is @ 5% p.a., the interest on drawings is (a) (c) 37. (b) (d) In a joint venture between A and B, A purchased goods costing Rs.42,500. B sold goods costing Rs. 40,000 at Rs. 50,000. Balance goods were taken over by A at same gross profit percentage as in case of sale. The amount of goods taken over by A will be: (a) (c) 36. Rs. 12,000 Rs. 12,020 Rs. 5,500 Rs. 5,700 (b) (d) Rs. 5,480 Rs. 8,300 Following are the extracts from the trial balance of a firm as on 31st December, 2009: Particulars Dr. Investments in 6% Debentures of A Ltd. (Interest Rs. 30,000 payable on 31st March and 30th September) Interest on investments The amount of accrued interest on 31st December will be (a) (c) Rs. 1,800 Rs. 450 90 The Institute of Chartered Accountants of India (b) (d) Cr. Rs. 900 Rs. 900 None of the above. Common Proficiency Test (CPT) Volume - I 41. Following are the extracts from the Trial Balance of a firm as on 31st December, 2009. Particulars Rs. Trade receivables 30,000 Bad debts 5,000 Additional information: (i) (ii) (a) (c) 42. After preparing the trial balance, it is learnt that a customer, Mohan became insolvent and therefore, the entire amount of Rs.3,000 due from him was irrecoverable. 10% provision for bad and doubtful debts is generally created. The amount of provision for bad and doubtful debts to be charged to profit and loss account will be Rs. 3,000 Rs. 2,500 (b) (d) Rs. 975 Rs. 1,800 Rs.260 to A and Rs.390 to B Rs.390 to A and Rs.260 to B Rs.2,340 to A and Rs.1,560 to B Rs.1,560 to A and Rs.2,340 to B Advertisement expenditure of Rs.10,000 paid on 30.12.2009, the advertisement in respect of which has appeared in the magazines of January, 2010. This expenditure will be (a) (b) (c) (d) 45. Rs. 650 Rs. 900 A and B are partners in a firm sharing profits and losses in the ratio of 3:2. They have invested capitals of Rs.40,000 and Rs.25,000 respectively. As per the partnership deed, they are entitled to interest on capital @ 5% p.a. before dividing the profits. During the year, the firm earned a profit of Rs.3,900 before allowing interest. The net profit will be apportioned as (a) (b) (c) (d) 44. Rs. 2,700 None of the three A and B are partners in a firm. During the year 2009, A withdrew Rs.1,000 p.m. and B withdraw Rs.500 p.m. on the first day of each month for personal use. Interest on drawings is to be charged @ 10% p.a. The interest on drawings will be (a) (c) 43. (b) (d) Shown as expense in the financial statements of the year ended 31st December, 2009 Shown as liability in the financial statements of the year ended 31st December, 2009 Shown as prepaid expense in the financial statements of the year ended 31st December, 2009 None of the three Our acceptance to Mr. A for Rs.8,000 renewed for 3 months on the condition that Rs.2,000 is paid in cash immediately and the new bill to be drawn for remaining balance to carry out interest at 18% p.a. The amount of the renewed bill of exchange will be (a) (c) Rs.6,270 Rs.8,000 Common Proficiency Test (CPT) Volume - I The Institute of Chartered Accountants of India (b) (d) Rs.8,270 None of the three 91 MODEL TEST PAPER - 4 46. On 1st January, 2009, Alpha Ltd. purchased a machine for Rs.50,000 and spent Rs.4,000 on its carriage and Rs.2,000 on its installation. On the date of purchase, it was estimated that the effective life of the machine will be 10 years and after 10 years its scrap value will be Rs.6,000. Depreciation is charged on straight line basis. Depreciation for the year 2009 will be (a) (c) 47. (b) (d) Rs.820 Rs.960 Rs.2,500 Rs.4,500 (b) (d) Rs.2,000 None of the above Rs.20,000 Rs.10,000 (b) (d) Rs.15,000 None of the above. A transport company purchases a truck for Rs.2,00,000 on 1st January, 2009. It charges 20% depreciation p.a. according to w.d.v. method. The truck was sold on 1st July, 2010 for a sum of Rs.1,60,000. The profit or loss on sale of truck is (a) (c) 51. Rs.840 Rs.720 A firm has an average profit of Rs.60,000. Rate of return on capital employed is 12.5% p.a. Total capital employed in the firm was Rs.4,00,000. Goodwill on the basis of two years purchase of super profits is (a) (c) 50. Rs.5,000 Rs.4,500 Mr. A is a partner in a firm along with Mr. B. Both contributed capitals of Rs.40,000 and Rs.50,000 respectively on the 1st of July, 2009. Interest on capital is to be charged @ 10% p.a. Books of account are to be closed on 31st December, 2009. Interest on capital is (a) (c) 49. (b) (d) Ram and Gopal are partners sharing profits and losses in the ratio of 2:1. Gopal gave a loan of Rs.12,000 to the firm. They did not have any specific agreement about interest on loan mentioned in the partnership deed. Gopal claims interest on loan @ 10% p.a. The interest on loan as per the rules of the Partnership Act, 1932 will be: (a) (c) 48. Rs.4,600 Rs.4,800 Loss of Rs. 16,000 Profit of Rs. 12,000 (b) (d) Profit of Rs. 16,000 Loss of Rs. 12,000 Ram started business with cash Rs.50,000 Purchased goods from Mohan on credit Rs.20,000 Sold goods to Shyam (costing Rs.3,000) for cash Rs.3,600 The accounting equation on the basis of the above transactions will be (a) (b) (c) (d) Assets Rs.70,600 = Laibilities Rs.3,600+Owner s equity Rs.67,000 Assets Rs.70,600 = Liabilities Rs.50,600+Owner s equity Rs.20,000 Assets Rs.70,600= Liabilities Rs.20,000+Owner s equity Rs.50,600 None of the three 92 The Institute of Chartered Accountants of India Common Proficiency Test (CPT) Volume - I 52. Value of physical inventory on 15.4.2010 was Rs.3,00,000. Sales amounting Rs.1,00,000 and purchases worth Rs.50,000 were held between 31.3.2010 and 15.4.2010. Goods are sold at a profit of 20% on sales. Value of inventory as on 31.3.2010 is (a) (c) 53. (b) (c) (d) Profit of Rs.20,000 Loss of Rs.20,000 (b) (d) Profit of Rs.15,000 Profit of Rs.20,250 Rs. Dr.1,000 Sales Returns A/c To Ramesh Ramesh To Sales Return A/c Ramesh Sales Returns A/c To Suspense A/c None of the above Rs. 1,000 Dr.1,000 1,000 Dr.1,000 Dr.1,000 2,000 Record of purchase of T.V.parts. Date Quantity Price per unit Units Rs. March 4 900 5 March 10 400 5.50 Record of issues March 5 600 March 12 400 The value of T.V. sets on 15 March, as per LIFO will be (a) (c) 56. Rs.2,70,000 Rs.3,00,000 A cheque of Rs.1,000 received from Ramesh was dishonoured and had been posted to the debit of sales returns account. The rectifying journal entry will be (a) 55. (b) (d) A and B entered into a joint venture agreement to share the profits and losses in the ratio of 2:1. A supplied 100 radio sets worth Rs.1,00,000 to B incurring expenses of Rs.5,000 for freight and insurance. B sold 95 radio sets for Rs.1,20,000. 5 radio sets were taken over by B. The profit/loss on venture will be (a) (c) 54. Rs.3,50,000 Rs.3,30,000 Rs.1,500 Rs.1,575 (b) (d) Rs.1,650 None of the three A purchased a computer costing Rs.10,000. Repairing expenses Rs.1,000 and miscellaneous expenses Rs.500 were incurred by him. He sold the computer at 20% margin on selling price. The sales value will be (a) (c) Rs.12,500 Rs.14,375 Common Proficiency Test (CPT) Volume - I The Institute of Chartered Accountants of India (b) (d) Rs.11,000 Rs.13,800 93 MODEL TEST PAPER - 4 57. Priya sold goods to Nidhi for Rs.1,00,000. Priya will grant 5% discount to Nidhi. Nidhi requested Priya to draw a bill. The amount of the bill will be (a) (c) 58. Rs.95,000 Rs.90,000 1st May, 2010 5th May, 2010 (b) (d) 28th April, 2010 2nd May, 2010 Under mutual accommodation, Mohan drew a bill on Shyam for Rs.50,000 for 3 months. Proceeds are to be shared equally. Mohan got the bill discounted at 12% p.a. and remits required proceeds to Shyam. The amount of such remittance will be (a) (c) 60. (b) (d) A bill is drawn on 28th March, 2010 for one month after sight. The date of acceptance is 2nd April, 2010. The maturity date of the bill will be (a) (c) 59. Rs.1,00,000 Rs.93,800 Rs.24,250 Rs.16,167 (b) (d) Rs.25,000 Rs.32,333 Goods costing Rs. 10,000 were sold at 1/6 profit on selling price. The sale value will be (a) (c) Rs.12,000 Rs. 10,000 (b) (d) Rs. 12,500 None of the three SECTION B : MERCANTILE LAWS (40 MARKS) 61. Cross Offers means (a) (b) (c) (d) 62. Valid Contract: (a) (b) (c) (d) 63. Exchanging identical offers by two parties in ignorance Offer made to the public in general Offer allowed to remain open for acceptance over a period of time Offer made to a definite person In case of this collateral agreements are void. Not enforceable in a court of law. An agreement enforceable by law at the option of one or more of the parties thereon but not at the option of the other or others Enforceable at the option of both the parties Which of the following is a requirement for misrepresentation to exist? (a) (b) (c) (d) Misrepresentation should relate to a material fact The person making a misrepresentation should not believe it to be true It must be made with an intention to deceive the other party All of the above 94 The Institute of Chartered Accountants of India Common Proficiency Test (CPT) Volume - I 64. Which of the following agreements is void? (a) (b) (c) (d) 65. Which of the following offers constitute a valid offer? (a) (b) (c) (d) 66. (c) (d) Misrepresentation Bilateral Mistake Can rescind the contract No remedy available (b) (d) To claim compensation Can t be determined Desires Consideration (b) (d) Wishes Promise Goods must be the same as wanted by the seller. This is (a) (c) 71. (b) (d) What is legal terminology for the doing or not doing of something which the promisor desires to be done or not done? (a) (c) 70. Fraud Coercion Suppose the time fixed for performance of the contract has expired but the time is not essential. What is the remedy of the promisee in the circumstances? (a) (c) 69. Even if a proposal is not accepted properly it becomes a valid contract The agreements which are against the public policy can be enforced if the parties are willing to contract A contract can consist of an offer or an acceptance only Two are more persons are said to consent when they agree upon the same thing in the same sense Contract caused by which of the following is void? (a) (c) 68. An auctioneer displays a TV. set before a gathering in an auction sale Ram who is in possession of three cars purchased in different years says I will sell you a car A says to B, Will you purchase my motor cycle for Rs. 20,000? All of the above Which of the following statements is true? (a) (b) 67. Agreements made under the unilateral mistake of fact Agreements made under the bilateral mistake of fact Agreements made under the influence of fraud Contingent agreement Condition as to description Condition as to wholesomeness (b) (d) Condition as to sample Condition as to title Goods dependant upon certain events which may or may not happen. (a) (c) Unascertained goods Contingent Goods Common Proficiency Test (CPT) Volume - I The Institute of Chartered Accountants of India (b) (d) Future goods Existing Goods 95 MODEL TEST PAPER - 4 72. Which of the following is a not document of title to goods? (a) (c) 73. Felled and ascertained Counted and ascertained (b) (d) Not felled but earmarked Both (b) and (c) Arises by operation of law Comes into existence only after registration Can arise by agreement or otherwise Arise by way of an agreement only Partners Labourers (b) (d) Carpenters Master-Servant Registration Separate Legal Entity (b) (d) Test of Mutual Agency All of the above Which of the following acts are not included in the implied authority of a partner? (a) (b) (c) (d) 80. Delivery of goods to buyer Delivery of goods to carrier Tender of price by buyer All of these Which of the following is an essential feature of partnership? (a) (c) 79. Actionable claims None of these X and Y agree to work together as carpenters but X shall receive all profit and shall pay wages to Y. The relation between X and Y is that (a) (c) 78. (b) (d) Partnership (a) (b) (c) (d) 77. Money Growing crops, grass In case of sale of standing trees, the property passes to the buyer when trees are (a) (c) 76. Railway Receipt Performa invoice In which of the following cases, the unpaid seller loses his right of lien? (a) (b) (c) (d) 75. (b) (d) The term goods for the purpose of Sale of Goods Act, includes (a) (c) 74. Bill of Lading Dock Warrant To buy or sell goods on accounts of partners To borrow money for the purposes of firm To enter into partnership on behalf of firm To engage a lawyer to defend actions against firm Implied contract, even if not in writing or express words, is perfectly ________if other conditions are satisfied (a) (c) Void Voidable 96 The Institute of Chartered Accountants of India (b) (d) Valid Illegal Common Proficiency Test (CPT) Volume - I 81. R, an optical surgeon, employs S as the assistant for a term of three years and S agrees not to practice as a surgeon during this period. This contract is _________ (a) (c) 82. Quasi Contract Wagering Agreement (b) (d) Contingent Contract Voidable Contract Standing, open or continuing offer Cross Offers (b) (d) Counter Offer Special Offer Void Valid (b) (d) Voidable Illegal Mutual and concurrent Conditional and dependent Mutual and independent Can t be determined The basis of quasi contractual relations is the __________. (a) (b) (c) (d) 88. Present Past and Present Where the performance of a promise by one party depends on the prior performance of promise by the other party, such reciprocal promises fall under the category of __________. (a) (b) (c) (d) 87. (b) (d) When after the formation of a valid contract, an event happens which makes the performance of contract impossible, and then the contract becomes ___________. (a) (c) 86. Past Future When the offeree offers to qualified acceptance of the offer subject to modifications and variations he is said to have made a ___________. (a) (c) 85. Void Illegal A agrees to pay Rs. 500 to B if it rains, and B promises to pay a like amount to A if it does not rain, this agreement is called ___________. (a) (c) 84. (b) (d) ________ consideration is no consideration in England. (a) (c) 83. Valid Voidable Existence of a valid contract between the parties Prevention of unjust enrichment at the expense of others Provisions contained in Section 10 of the Contract Act Existence of a voidable contract between the parties A agrees to pay Rs. 1000 to B if a certain ship returns within a year. However, the ship sinks within the year. In this case, the contract becomes __________ (a) (c) Valid Voidable Common Proficiency Test (CPT) Volume - I The Institute of Chartered Accountants of India (b) (d) Void Illegal 97 MODEL TEST PAPER - 4 89. Where an agreement consists of two parts once legal and the other illegal, and the legal part is separable from the illegal one, such legal part is __________. (a) (c) 90. (b) (d) Illegal Voidable Invalid and ineffective Conditional (b) (d) Valid and effective None of these Possession of goods Ownership of goods (b) (d) Custody of goods Both (a) and (b) An agreement to sell A breach of condition (b) (d) A breach of warranty All the above Right of indemnification Right of stoppage in transit (b) (d) Right to compensation All of the above Discharge by mutual agreement may involve__________. (a) (c) 98. Void Conditional The rights of an agent against the principal are the following __________. (a) (c) 97. Executory Contract Executed Contract Executory Contract or Executed Contract None of the above Untill goods are ascertained there is merely __________. (a) (c) 96. 1st July, 1930 30th June, 1930 The property in the goods means the __________. (a) (c) 95. (b) (d) Where the goods are delivered to a carrier or wharfinger for the purpose of transmission to the buyer, the delivery is __________. (a) (c) 94. 15th March, 1930 30th July, 1930 Where in an auction sale, the seller appoints more than one bidder, the sale is __________. (a) (c) 93. Valid Illegal Contract of Sale is __________. (a) (b) (c) (d) 92. (b) (d) The Sale of Goods Act, 1930 came into force on __________. (a) (c) 91. Void Voidable Novation Alteration (b) (d) Recission All of the above A enquires from B, Will you purchase my cow for $ 100? B replies, I shall purchase your cow for $ 100 provided you purchase my parrot for $ 120. In this case __________. (a) (c) B has accepted the offer of A A is bound by the actions of B 98 The Institute of Chartered Accountants of India (b) (d) B has made a counter offer to A B cannot make such an offer Common Proficiency Test (CPT) Volume - I 99. A sold 1000 tins of oil to B without appropriating any particular oil to the contract. B sold 600 tins out it to C and gave delivery order addressed to A. C lodged the delivery order with A requesting him to await his orders. Meanwhile, B became insolvent and thus A became the unpaid seller. (a) (b) (c) (d) 100. A can exercise his right of lien and refuse to make delivery to C A cannot exercise his right of lien and refuse to make delivery to C C has claim over the goods in possession of A None of the above X fraudulently induced Y to enter into partnership with him and Y pays a premium of Rs.5,000/- to A. Within three months the firm incurs liabilities to the extent of Rs.10,000/-. On discovering the fraud, Y files a suit for the rescission of the contract creating partnership and contract is rescinded. The creditors of the firm also levy attachment on Y who pays Rs.3,000/- to them as well. Which of the following is correct? (a) (b) (c) (d) Y can obtain a decree for Rs.8000/- against A Y can obtain a decree for Rs.5000/- against A Y can obtain a decree for Rs.3000/- against A Y cannot obtain a decree for either Rs.5,000/- or Rs.3,000/- or Rs.8000/- against SECTION C : GENERAL ECONOMICS(50 MARKS) 101. Find the correct match: (a) (b) (c) (d) 102. Suppose the demand for meals at a medium-priced restaurant is elastic. If the management of the restaurant is considering raising prices, it can expect a relatively: (a) (b) (c) (d) 103. large fall in quantity demanded large fall in demand small fall in quantity demanded small fall in demand Which of the following is not a characteristic of a price taker ? (a) (c) 104. An enquiry into the nature and causes of the wealth of the nation: A.C.Pigou. Science which deals with wealth: Alfred Marshall. Economics is the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses: Robbins. The range of our enquiry becomes restricted to that part of social welfare that can be brought directly or indirectly into relation with the measuring rode of money: Adam Smith. TR = P x Q Negatively sloped demand (b) (d) AR = Price Marginal Revenue = Price Which cost increases continuously with the increase in production? (a) (c) Average cost Fixed cost Common Proficiency Test (CPT) Volume - I The Institute of Chartered Accountants of India (b) (d) Marginal cost Variable cost 99 MODEL TEST PAPER - 4 105. Which one is not an assumption of the theory of demand based on analysis of indifference curves? (a) (b) (c) (d) 106. Which of the following statements is correct? (a) (b) (c) (d) 107. (b) (c) (d) The demand and the supply of fuel are almost equal Our import bill on account of oil has been decreasing since 1990 Oil prices have been decreasing since 1973 Transmission and distribution losses of power companies are very high Jet Airways and Kingfisher are examples of: (a) (c) 110. there has been an increased in the use of high yielding varieties of seeds, fertilizers, pesticides etc. there has been noticeable positive change in the attitude of farmers towards new techniques of production farmers are increasingly resorting to intensive cultivation, multiple cropping, scientific water management all of the above Which of the following statements is correct? (a) (b) (c) (d) 109. Under zamindari system, farmers directly paid land revenue to the state. At present, income tax revenues from the agriculture sector are negligible. Commercial banks are providing loans to the agriculture sector at zero interest rate None of the above We can say Indian agriculture has become modern since: (a) 108. Given scale of preferences as between different combinations of two goods Diminishing marginal rate of substitution Constant marginal utility of money Consumers would always prefer more of a particular good to less of it, other things remaining the same Private Schools Private Ships (b) (d) Private Airlines Private Railways All of the following developments were noticed during 1991(when economic reforms were enforced) except one. Identify it. (a) (b) (c) (d) National debt was nearly 60 percent of the GNP of India Inflation crossed double digits Foreign reserves were maintained at a very high level None of the above 100 The Institute of Chartered Accountants of India Common Proficiency Test (CPT) Volume - I 111. All of the following statements except one are correct about the foreign trade policy, 2004-09. Identify the incorrect statement: (a) (b) (c) (d) 112. The economic reforms have failed to: (a) (b) (c) (d) 113. removal of control by a few provision of credit to big industries only provision of adequate credit for agriculture, small industry and export units encouragement of a new class of entrepreneur reduce CRR sell securities in the open market (b) (d) increase CRR increase Bank rate The Indian road net work is one of the longest in the world The rural road network connects around 65 percent of all weather roads Most of the State Road Transport Corporations are running on profits The National highways carry more than 40 percent of the total road traffic expressed the view that Economics is neutral between end . (a) (c) 118. M2 M4 Which of the following statements is incorrect? (a) (b) (c) (d) 117. (b) (d) In order to encourage investment in the country, the RBI may: (a) (c) 116. M1 M3 Nationalization of banks aimed at all of the following except: (a) (b) (c) (d) 115. keep fiscal deficits to the targeted levels fully implement industrial deregulation fully open the economy to trade all of the above Broad money refers to (a) (c) 114. Certain thrust areas like agriculture, handlooms, handicrafts etc have been identified Vishesh Krishiupaj Yojana has been started Served from India scheme has been started The entry of FDI in India has been restricted Robbins Pigou (b) (d) Marshall Adam Smith (b) (d) price-cost relationship price-income relationship The law of demand refers to . (a) (c) price-supply relationship price-demand relationship Common Proficiency Test (CPT) Volume - I The Institute of Chartered Accountants of India 101 MODEL TEST PAPER - 4 119. Increasing returns imply . (a) (b) (c) (d) 120. In monopolistic competition, a firm is in long run equilibrium . (a) (b) (c) (d) 121. (b) (d) about 1000 persons about 5800 persons 45 27 (b) (d) 51 10 Globalization Disinvestment (b) (d) Privatization Liberalization 5 8 (b) (d) 7 3 At present, Bank rate is percent. (July, 2013) (a) (c) 127. about 100 persons more than 7800 At present only industries are reserved for the public sector. (a) (c) 126. Cochin Mumbai refers to the transfer of assets or services functions from public to private ownership. (a) (c) 125. (b) (d) At present, nearly percent of the energy consumed is obtained from noncommercial traditional sources. (a) (c) 124. Paradip Kandla On an average, one post office in India serves . (a) (c) 123. at the minimum point of the LAC curve in the declining segment of the LAC curve in the rising segment of the LAC curve when price is equal to marginal cost Of the major 12 ports, has been top traffic handler for the last five years. (a) (c) 122. constant average cost diminishing cost per unit of output optimum use of capital and labour external economies 5 6.5 (b) (d) 10.25 5.5 is the official minimum rate at which the central bank of a country is prepared to rediscount approved bills held by banks. (a) (c) CRR Bank rate 102 The Institute of Chartered Accountants of India (b) (d) SLR Repo rate Common Proficiency Test (CPT) Volume - I 128. EPCG stands for . (a) (b) (c) (d) 129. The area under irrigation has over the years in India. (a) (b) (c) (d) 130 . more than 80 percent of GDP more than 70 percent of GDP more than 50 percent of GDP more than 90 percent of GDP is the Banker s Bank in India. (a) (c) 132. remained constant decreased increased. first increased and then decreased The service sector in India now accounts for . (a) (b) (c) (d) 131. Export Promotion Capital Goods Expert Programme for Credit Generation Exchange Programme for Consumer Goods Export Promotion Consumer Goods SBI RBI (b) (d) PNB OBC According to the 2001 census the total literacy ratio is (a) (c) 32.5% 52.1% (b) (d) 65.4% 75.8% Price Questions 133 to 137 are based on the demand and supply diagrams in Figure 1. D1 and S1 are the original demand and supply curves. D2, D3, S2 and S3 are possible new demand and supply curves. Starting from initial equilibrium point (1) what point on the graph is most likely to result from each change? Quantity Common Proficiency Test (CPT) Volume - I The Institute of Chartered Accountants of India 103 MODEL TEST PAPER - 4 133. Assume X is a normal good. Holding everything else constant, assume that income rises and the price of a factor of production also increases. What point in Figure 1 is most likely to be the new equilibrium price and quantity? (a) (c) 134. Point 4 Point 7 (b) (d) Point 5 Point 8 Point 6 Point 7 (b) (d) Point 3 Point 8 Assume that consumers expect the prices on new cars to significantly increase next year. What point in Figure 1 is most likely to be the new equilibrium price and quantity? (a) (c) 137. Point 5 Point 2. Heavy rains in Maharashatra during 2005 and 2006 caused havoc with the rice crop. What point in Figure 1 is most likely to be the new equilibrium price and quantity? (a) (c) 136. (b) (d) We are analyzing the market for good Z. The price of a complement good, good Y, declines. At the same time, there is a technological advance in the production of good Z. What point Figure 1 is most likely to be the new equilibrium price and quantity? (a) (c) 135. Point 9 Point 3 Point 6 Point 3 (b) (d) Point 5 Point 8 What combinations of changes would most likely decrease the equilibrium quantity? (a) (b) (c) (d) When supply increases and demand decreases When demand increases and supply decreases When supply increases and demand increases When demand decreases and supply decreases 104 The Institute of Chartered Accountants of India Common Proficiency Test (CPT) Volume - I Use Table 1 to answer questions 138 - 141 Table 1 Quantity - - - 80.00 100.00 20 2 40.00 58.00 17 3 26.66 44.00 15 4 20.00 36.25 13 5 16.00 31.40 12 6 13.33 28.33 13 7 11.42 26.29 14 8 10.00 26.13 25 9 8.88 26.56 30 10 8.00 27.30 34 11 7.27 28.45 40 12 6.66 30.00 47 13 6.15 31.92 55 Refer to Table 1 which lists the average costs of a perfectly competitive firm. If the price of the good is Rs 13, the firm will be produce (a) (c) 4 units at a loss of Rs. 93 zero units at a loss of Rs. 80 (b) (d) 6 units at a loss Rs. 92 8 units at a profit of Rs. 9 Refer to the competitive firm in Table 1. If the market price is Rs 31, the firm will produce: (a) (b) (c) (d) 140. Marginal cost 1 139. Average Total cost 0 138. Average Fixed cost 9 units at an economic profit of Rs. 40 10 units at an economic profit of Rs. 67 9 units at an economic profit of Rs. 81 Zero units of output and lose its fixed cost In Table 1, if price is Rs 26, the perfectly competitive firm will: (a) (b) (c) (d) shut down in the short run produce 8 units at an economic loss of Rs. 9 produce 9 units at an economic loss of Rs. 5 produce 8 units at an economic loss of Rs. 1.04 Common Proficiency Test (CPT) Volume - I The Institute of Chartered Accountants of India 105 MODEL TEST PAPER - 4 141. In Table 1, if price is Rs 34, the perfectly competitive firm will: (a) (c) shut down produce 11 units (b) (d) produce 10 units produce 13 units. Read the following paragraph and answer Questions number 142-147 Anisha quit her job at a private company where she earned Rs. 2,90,000 a year. She withdrew Rs. 4,00,000 in a savings account that earned 10% interest annually to buy a second hand mini bus to commune passenger between Cannaught Place and Noida. There are 1000 passengers who will pay Rs. 4000 a year each for commuter services; Rs. 2800 from each passenger goes for petrol, maintenance, depreciation etc. 142. What is Anisha s total revenue from her commuter service? (a) (c) 143. (b) (d) Rs. 3,30,000 Rs.28,00,000 Rs. 40,000 Rs. 31,30,000 earned economic profits but suffered accounting loss earned economic profits and accounting profits suffered economic loss and accounting loss earned accounting profits but suffered economic loss Rs. 40,00,000 Rs. 8,70,000 (b) (d) Rs. 12,00,000 Rs. 2,90,000 (b) (d) Rs. 30,000 Rs. 8,70,000 Calculate Anisha s economic profit/loss? (a) (c) 148. Rs. 40,00,000 Rs. 8,70,000 Calculate Anisha s accounting profit/ loss? (a) (c) 147. (b) (d) Rs. 12, 00,000 Rs. 28, 00,000 We can say that Anisha: (a) (b) (c) (d) 146. Rs.2, 90,000 Rs 31,30,000 Calculate Anisha s economic cost? (a) (c) 145. (b) (d) Calculate Anisha s accounting costs? (a) (c) 144. Rs. 40,00,000 Rs. 28, 00,000 Rs. 12,00,000 Rs. 31,30,000 If the local pizzeria raises the price of a medium pizza from Rs.60 to Rs.100 and quantity demanded falls from 700 pizzas a night to 100 pizzas a night, the price elasticity of demand for pizzas is: (use arc Elasticity Method) (a) (c) .67 2.0 106 The Institute of Chartered Accountants of India (b) (d) 1.5 3.0 Common Proficiency Test (CPT) Volume - I 149. Suppose a consumer s income increases from Rs.30,000 to Rs.36,000. As a result, the consumer increases her purchases of compact discs (CDs) from 25 CDs to 30 CDs. What is the consumer s income elasticity of demand for CDs? (a) (c) 150. 0.5 1.5 (b) (d) 1.0 2.0 If the quantity demanded of beef increases by 5% when the price of chicken increases by 20%, the cross-price elasticity of demand between beef and chicken is (a) (c) -0.25 -4 (b) (d) 0.25 4 SECTION D : QUANTITATIVE APTITUDE (50 MARKS) 151. The entire upper part of a table is known as (a) (c) 152. (b) (d) Bar diagram None Any of the two middle-most value The simple average of these two middle values The weighted average of these two middle values Any of these 6 and 7 10 and 3 (b) (d) 9 and 4 8 and 5 If all the observations are increased by 10, then (a) (b) (c) (d) 156. Line diagram Both If the A.M. and G.M. for two numbers are 6.50 and 6 respectively then the two numbers are (a) (c) 155. Stub Body In case of an even number of observations which of the following is median? (a) (b) (c) (d) 154. (b) (d) Ogive is a (a) (c) 153. Caption Box head Standard Deviation would be increased by 10 Mean deviation would be increased by 10 Quartile deviation would be increased by 10 All these three remain unchanged Mode of 0, 3, 5, 6, 7, 9, 12, 0, 2 is (a) (c) 6 3 Common Proficiency Test (CPT) Volume - I The Institute of Chartered Accountants of India (b) (d) 0 5 107 MODEL TEST PAPER - 4 157. What is spurious correlation? (a) (b) (c) (d) 158. The line x = a + by represents the regression equation of (a) (c) 159. 100 125 (b) (d) 15 25 Class width Class limit (b) (d) Class boundary Class frequency G.M. Median (b) (d) H.M. G.M. and H.M. Positive Zero (b) (d) Negative One Mutually exclusive Equally likely (b) (d) Exhaustive Independent (b) (d) Binomial None of above In ______ distribution, mean = variance. (a) (c) 166. Symmetrical. None of above. B) = 0, then the two events A and B are ______ . If P(A (a) (c) 165. (b) (d) In case The ages of husbands and wives correlation is ______ . (a) (c) 164. Asymmetrical Both of above. ______ always lies in between the arithmetic mean & mode. (a) (c) 163. x on y None of above Tally marks determines ______ . (a) (c) 162. (b) (d) A population comprises 5 members. The number of all possible samples of size 2 that can be drawn from it with replacement is (a) (c) 161. y on x Both of above When p = 0.5, the binomial distribution is (a) (c) 160. It is a bad relation between two variables It is very low correlation between two variables It is the correlation between two variables having no causal relation It is a negative correlation Normal Poisson A______ distribution is a theoretical distribution that expresses the functional relation between each of the distinct values of the sample statistic and the corresponding probability. (a) (c) Normal Poisson 108 The Institute of Chartered Accountants of India (b) (d) Binomial Sampling Common Proficiency Test (CPT) Volume - I 167. If an investment of Rs.1000 and Rs.100 yield an income of Rs.90 and Rs.20 respectively, for earning Rs.50 investment of Rs.________ will be required. (a) (c) 168. If 18 (a) (c) 169. (b) (d) 2 None of above (n/2) (n+1) [(n/2) (n+1)]2 (b) (d) (n/6) (n+1) (2n+1) None of above Real, Unequal Irrational, Unequal (b) (d) Real, Equal Rational, Unequal There has been on the average a 255% increase in prices There has been on the average a 355% increase in price There has been on the average a 250% increase in price None of these 6 6 or 12 (b) (d) 12 10 The mean proportional between 1.4 gms and 5.6 gms is (a) (c) 174. 0 8 The sum of a series in A.P. is 72 the first term being 17 and the common difference 2. The number of terms is (a) (c) 173. Cn = 18 Cn+2 then the value of n is ________ . The index number of prices at a place in 1998 is 355 with 1991 as base. This means (a) (b) (c) (d) 172. Over Rs.500 Rs.486 If b2 4ac = 0 the roots are ______ and ______. (a) (c) 171. (b) (d) The sum of square of first n natural number is ________. (a) (c) 170. Less than Rs.500 Rs.485 28 gms. 3.2 gms. (b) (d) 2.8 gms. None of these (b) 2 < 1 2 (d) None of these Which is True ? (a) (c) ( ) 2 = ( 1 2 ) 2 > 1 2 Common Proficiency Test (CPT) Volume - I The Institute of Chartered Accountants of India ( ) 109 MODEL TEST PAPER - 4 175. 8 is the solution of the equation (a) (b) x + 4 x +10 + =8 2 9 (c) 176. x+4 x 5 + = 11 4 3 x + 24 x = 4+ 5 4 (d) x 15 x + 5 + =4 10 5 The sum of the digits of a two digit number is 10. If 18 be subtracted from it the digits in the resulting number will be equal. The number is (a) (c) 177. 7% 7.10% (b) (d) 7.5% None of these Rs. 75,000 Rs. 76,382.80 (b) (d) Rs. 76,000 None of these 136 125 (b) (d) 130 None of these 2500 2400 (b) (d) 2450 None of these The sum of 3 numbers of a G.P. is 39 and their product is 729. The numbers are (a) (c) 183. ( 1, 12) ( 1,12) If there are 50 stations on a railway line how many different kinds of single first class tickets may be printed to enable a passenger to travel from one statin to other? (a) (c) 182. (b) (d) The ways of selecting 4 letters from the word EXAMINATION is (a) (c) 181. (1,12) (1, 12) A person bought a house paying Rs. 20000 cash down and Rs. 4000 at the end of each year for 25 yrs at 5% p.a. compound interest. The cash down price is (a) (c) 180. 73 None of these The effective rate of interest corresponding a nominal rate of 7% p.a convertible quarterly is (a) (c) 179. (b) (d) The values of x for the equation x2+ 9x + 18 = 6 4x are (a) (c) 178. 37 64 3, 27, 9 3, 9, 27 (b) (d) 9, 3, 27 None of these Find the four numbers in A.P. with the sum of second and third being 22 and the product of the first and fourth being 85. (a) (c) 3, 5, 7, 9 5 ,9, 13, 17 110 The Institute of Chartered Accountants of India (b) (d) 2, 4, 6, 8 None of these Common Proficiency Test (CPT) Volume - I 184. The sum of n terms of the series 2 + 6 + 10 + . is (a) (c) 185. 2n n /2 lim x 1 12 10 lim x t (b) (d) 74 None of these (b) (d) 1/4 None of these x2 1 is evaluated to be 3x + 1 5x - 1 (a) (c) 187. n 4n B has 62 elements, the number of elements in If A has 32 elements, B has 42 elements and A B is A (a) (c) 186. (b) (d) 4 4 x3 t 3 is evaluated to be x2 t 2 (a) (b) 2/3t (c) 188. 3/2 3 t 2 (d) None of these (b) eax (d) None of these (b) e (d) None of these (b) (d) x5/5 2/3 x3 + x None of these If f(x) = eax2 +bx+c the f (x) is 2 + bx + c (a) (c) 189. eax 2ax +b If y = e 2x (a) (c) 190. e , 2x 2x 2x 2x Evaluate result of (a) (c) (2ax + b) dy is calculated as dx 2x e 2 + bx + c (x 2 1) dx is 2 x5/5 2/3 x3 + x + k 2x Common Proficiency Test (CPT) Volume - I The Institute of Chartered Accountants of India 111 MODEL TEST PAPER - 4 4 191. Evaluate ( 2x + 5 ) dx and the value is 1 (a) (c) 192. 3 30 (b) (d) 10 None of these The following data relate to the marks of a group of students: Marks : Below 10 Below 20 No. of students: 15 38 How many students got marks more than 30? (a) (c) 193. Below 30 65 50 43 65 35 (b) (d) 2.00 (b) 3.33 (c) 2.90 (d) 3 80 50 1 0 (b) (d) +1 None of these 1/6 1/3 (b) (d) 1/2 1/4 The chance of getting a sum of 6 in a single throw with two dice is (a) (c) 198. (b) (d) If two letters are taken at random from the word HOME, what is the Probability that none of the letters would be vowels? (a) (c) 197. 200/9 400/9 Maximum value of Rank Correlation coefficient is (a) (c) 196. 30 The coefficient of mean deviation about mean for the first 9 natural numbers is (a) (c) 195. Below 50 100 The harmonic mean for the numbers 2, 3, 5 is (a) 194. Below 40 84 3/36 6/36 (b) (d) 4/36 5/36 What is the number of trials of a binomial distribution having mean and Standard Deviation as 3 and 1.5 respectively? (a) (c) 2 8 112 The Institute of Chartered Accountants of India (b) (d) 4 12 Common Proficiency Test (CPT) Volume - I 199. If the price of all commodities in a place has increased 125 times in comparison to the base period prices, then the index number of prices for the place is now (a) (c) 200. 100 225 (b) (d) 125 None of the above. If the amount of an annuity for 25 years at 5% p.a. C.I. is Rs. 50,000 the annuity will be (a) (c) Rs. 1,406.90 Rs. 1,146.90 Common Proficiency Test (CPT) Volume - I The Institute of Chartered Accountants of India (b) (d) Rs. 1,047.60 None of these. 113 MODEL TEST PAPER BOS/CPT-4 SECTION A : FUNDAMENTALS OF ACCOUNTING 1 (d) 2 (b) 3 (a) 4 (c) 5 (c) 6 (a) 7 (a) 8 (b) 9 (d) 10 (d) 11 (b) 12 (c) 13 (a) 14 (c) 15 (a) 16 (d) 17 (c) 18 (b) 19 (b) 20 (d) 21 (c) 22 (b) 23 (d) 24 (b) 25 (c) 26 (a) 27 (d) 28 (d) 29 (d) 30 (b) 31 (b) 32 (a) 33 (d) 34 (c) 35 (a) 36 (b) 37 (c) 38 (c) 39 (b) 40 (c) 41 (b) 42 (b) 43 (b) 44 (c) 45 (a) 46 (b) 47 (c) 48 (c) 49 (a) 50 (b) 51 (c) 52 (c) 53 (d) 54 (b) 55 (a) 56 (a) 57 (b) 58 (c) 59 (a) 60 (a) SECTION B : MERCANTILE LAWS 61 (a) 62 (d) 63 (a) 64 (b) 65 (c) 66 (d) 67 (d) 68 (b) 69 (c) 70 (a) 71 (c) 72 (d) 73 (c) 74 (d) 75 (a) 76 (d) 77 (d) 78 (b) 79 (c) 80 (b) 81 (a) 82 (a) 83 (c) 84 (b) 85 (a) 86 (b) 87 (b) 88 (b) 89 (b) 90 (b) 91 (c) 92 (d) 93 (b) 94 (c) 95 (a) 96 (d) 97 (d) 98 (b) 99 (a) 100 (a) Common Proficiency Test (CPT) Volume - I The Institute of Chartered Accountants of India 569 ANSWERS SECTION C : GENERAL ECONOMICS 101 (c) 102 (a) 103 (c) 104 (d) 105 (c) 106 (b) 107 (d) 108 (d) 109 (b) 110 (c) 111 (d) 112 (d) 113 (c) 114 (b) 115 (a) 116 (c) 117 (a) 118 (c) 119 (b) 120 (b) 121 (c) 122 (c) 123 (c) 124 (b) 125 (d) 126 (b) 127 (c) 128 (a) 129 (c) 130 (c) 131 (c) 132 (b) 133 (d) 134 (c) 135 (b) 136 (b) 137 (d) 138 (c) 139 (a) 140 (d) 141 (b) 142 (a) 143 (c) 144 (d) 145 (b) 146 (b) 147 (d) 148 (d) 149 (b) 150 (b) SECTION D : QUANTITATIVE APTITUDE 151 (c) 152 (a) 153 (b) 154 (b) 155 (d) 156 (b) 157 (c) 158 (b) 159 (b) 160 (d) 161 (d) 162 (c) 163 (a) 164 (a) 165 (c) 166 (d) 167 (d) 168 (c) 169 (b) 170 (b) 171 (a) 172 (c) 173 (b) 174 (c) 175 (b) 176 (b) 177 (b) 178 (d) 179 (c) 180 (a) 181 (b) 182 (c) 183 (c) 184 (a) 185 (a) 186 (c) 187 (c) 188 (b) 189 (a) 190 (a) 191 (c) 192 (c) 193 (c) 194 (c) 195 (b) 196 (a) 197 (d) 198 (d) 199 (c) 200 (b) 570 The Institute of Chartered Accountants of India Common Proficiency Test (CPT) Volume - I

Formatting page ...

Top Contributors
to this ResPaper
(answers/comments)

Adarsh Shah
(1)

Parshuram Rampurkar
(1)

Formatting page ...

Additional Info : Chartered Accountancy ICAI India : Common Proficiency Test CPT - Volume 1, Model Test Paper 4 with Answers
Tags : Chartered Accountancy, CA, Institute of Chartered Accountants of India, ICAI, Common Proficiency Test, CPT, CA Entrance Examination, ca cpt notes, ca cpt papers, cpt exam, pe-i, ca foundation, chartered accountant, volume 1, solved model test paper with answers, CA CPT 2017-2018, sample / model / mock / past / previous / old / online test papers, fundamentals of accounting, accounts, accountancy, mercantile laws, business law, general economics, micro / macro economics, indian economic development, quantitative aptitude, maths, mathematics, Common Proficiency Test.

ca_cpt chat

Horizontal lines at:
Guest Horizontal lines at:
AutoRM Data:
Box geometries: