Trending ▼   ResFinder  

CA CPT : Volume 2 - Model Test Paper 5 (with Answers & Explanations)

42 pages, 200 questions, 0 questions with responses, 0 total responses,    0    0
CA CPT
CA Common Proficiency Test (CPT),  Mumbai  		+Fave Message
ProfileTimelineUploads
 Home > ca_cpt >

Formatting page ...

BOARD OF STUDIES THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA COMMON PROFICIENCY TEST Model Test Paper BOS/CPT 5 Time : 4 hours Maximum Marks : 200 The test is divided into four sections. Questions 1 to 200 have only one correct answer and carry + 1mark for each correct answer and 0.25 mark for each wrong answer. SECTION A : FUNDAMENTALS OF ACCOUNTING (60 MARKS) 1. Profit and Loss account is prepared for a period of one year by following (a) (c) 2. Business entity concept None of the above. Conservatism concept Going concern concept (b) (d) Business entity concept Both (b) or (c) (b) (d) Decrease assets Increase assets Purchases for cash (a) (c) 4. (b) (d) Basic concepts related to Balance Sheet are (a) (c) 3. Periodicity concept Accrual concept Increase liability No change in the total assets Difference in bank balance as per bank pass book and cash pass book may arise on account of (a) (b) (c) (d) Cheque deposited but not collected Direct payment by customer in bank Cheque issued but not presented All of the three Common Proficiency Test (CPT) Volume - II The Institute of Chartered Accountants of India 109 MODEL TEST PAPER - 5 5. Trade discount allowed at the time of sale of goods is (a) (c) 6. Decrease assets Both (a) and (c) 4 April 2010 1 April 2010 (b) (d) 31 March 2010 None of the above Holder of the bill Drawee (b) (d) Drawer of the bill Either (a) or (b) Lower profit Higher sales (b) (d) Higher profit No change in sales Trade Receivables Goodwill (b) (d) Long term Investment Inventories Provision for doubtful debt A/c Bad debt A/c (b) (d) P & L A/c Customers (Trade receivables) A/c Goods distributed as free samples is debited to (a) (c) 14. (b) (d) Bad debts recovered account will be transferred to (a) (c) 13. Increase liability Increase assets Which of the following assets are to be valued at the lower of cost and net realizable values (a) (c) 12. Inventory Cash Under inflationary conditions, FIFO method will lead to (a) (c) 11. (b) (d) The noting charges levied on dishonour of an endorsed bill by the notary public are to be finally borne by (a) (c) 10. P & L A/c (Cr. balance) Goodwill A bill of exchange is drawn on 1 January 2010 payable after 3 month. The maturity date of the bill is (a) (c) 9. Not recorded on book of accounts Recorded in Sales book Purchases of goods on credit (a) (c) 8. (b) (d) Which of the following is not an asset (a) (c) 7. Recorded in Journal Recorded in Cash book Advertisement A/c Purchases A/c (b) (d) Charity A/c Goods A/c State which of the following is not a foreign bill? (a) (b) (c) (d) A bill drawn outside India and made payable outside A bill drawn outside India and made payable in India A bill drawn in India and made payable in India A bill drawn in India on a person resident outside India and made payable outside India. 110 The Institute of Chartered Accountants of India Common Proficiency Test (CPT) Volume - II 15. Which of the following enhances the earning capacity of an asset? (a) (b) (c) (d) 16. Depreciation is a process of (a) (c) 17. 21. Closing Inventory Prepaid Expenses (b) (d) Fixed deposits in Bank (for 3 years) Patents P & L A/c is debited with Rs. 1,400 (b) Both (a) and (b) (d) Rs. 400 is shown as current assets None of the above. Gross profit will decrease by Rs. 4,000 Gross profit will increase by Rs. 3,500 Gross profit will decrease by Rs. 3,500 None of the above Gross profit is equal to (a) Opening Inventory + purchases closing Inventory (b) Net profit Expenses (c) Sales Closing Inventory + purchases (d) Sales Cost of goods sold Sohan as a trader purchased goods for Rs. 5,00,000 and sold 70% of such goods during the accounting year ended 31st December 2009. The Market value of the remaining goods was Rs. 1,00,000. He valued the closing Inventory at Rs. 1,00,000 and not Rs. 1,50,000 due to (a) (c) 22. Valuation of expenses Appropriation of profit If goods worth Rs. 2,000 returned to a supplier is wrongly entered in sales return books as Rs. 1,500 then (a) (b) (c) (d) 20. (b) (d) A Club paid subscription fee of Rs. 1,800 out of which Rs. 400 is prepaid. In such case (a) (c) 19. Allocation of profit Segregation of profit Which of the following are fixed assets (a) (c) 18. Reduction in operating costs Increase in working capacity of an assets Replacing damage parts of an assets Both (b) and (c) Conservatism concept Money measurement (b) (d) Cost concept None of the above Narain Brothers which was registered in the years 2009, has been following FIFO method for valuation of shares. It changed its method from FIFO to LIFO method in the year 2010. The auditor raised objection to this change in the method of valuation of investments. (a) (b) (c) (d) Method can not be changed under any circumstances Change in the method should be done only if it is required by some statute and change would result in appropriate presentation of financial statement Change in the method should be done only with consent of the auditor None of the above. Common Proficiency Test (CPT) Volume - II The Institute of Chartered Accountants of India 111 MODEL TEST PAPER - 5 23. The opening Inventory of the current year is over stated by Rs. 10,000. and closing inventory is over stated by 17,000. These errors will lead the net income for the current year to be (a) (c) 24. C A (b) (d) Bank None of the above 1st June, 2010 5th June, 2010 (b) (d) 4th June, 2010 None of the above. 13 September, 2009 14 September, 2009 (b) (d) 10 September, 2009 12 September, 2009 Capital expenditure Revenue expenditure Deferred revenue expenditure None of the above If repairs cost is Rs. 30,000 white wash expenses are Rs. 5,000, cost & extension of building is Rs. 3,00,000 and cost of improvement in electrical wiring system is Rs. 30,000 the amount of revenue expenses will be (a) (c) 30. Deducted by Rs.1,500 Added by Rs.3,000 Rs.40,000 spent by a factory in overhauling of its existing plant & machinaries. It has enhanced its working life by five years. The aforesaid expenditure is (a) (b) (c) (d) 29. (b) (d) On 10.05.09 Ramesh draws a bill on Suresh for 4 months for Rs. 4,000. 13 September is a public holiday, due date of the bill will be (a) (c) 28. Added by Rs.1,500 Deducted by Rs.3,000 On 1.04.2010 Ram draws a bill on Rahim for 2 months for Rs. 1,000, 4th June was a sudden holiday. Maturity date of the bill will be (a) (c) 27. Rs. 17,000 overstated Rs. 17,000 understated A draws a bill on B for Rs. 5,000. A endorsed it to C. B will pay the amount of the bill on maturity to (a) (c) 26. (b) (d) When the overdraft as per cash book is the starting point and a cheque of Rs. 1,500 deposited into bank has not been recorded in cash book, then in the bank reconciliation statement it will be (a) (c) 25. Rs. 7,000 understated Rs. 7,000 overstated Rs. 35,000 Rs. 3,65,000 (b) (d) Rs. 65,000 Rs. 3,35,000 Rajesh returned goods amounting Rs. 5,200 to us but was recorded Rs. 2,500 in his account. In the rectifying entry, Rajesh A/c will be credited with (a) (c) Rs. 2,500 Rs. 7,700 112 The Institute of Chartered Accountants of India (b) (d) Rs. 2,700 Rs. 5,200 Common Proficiency Test (CPT) Volume - II 31. A Bill Receivable of Rs. 4,000 was dishonoured and credited as Rs. 400. The error will be rectified by (a) (b) (c) (d) 32. Opening Inventory = Closing Inventory + ? Purchases (a) (c) 33. Rs. 12,000 Rs. 1,40,000 (b) (d) Rs. 1,75,000 Rs. 1,05,000 Rs. 38,250 Rs. 1,35,000 (b) (d) Rs. 45,000 Rs. 32,512.50 Rs. 70,000 Rs. 60,000 (b) (d) Rs. 50,000 None of the above X sends out goods costing Rs. 2,00,000 to Y. Consignor expenses Rs. 5,000. Consignee s expenses in relation to sales Rs. 3,000. 4/5th of the goods were sold at 20% above cost. The profit on consignment will be (a) (c) 37. Gross profit Net Profit What would be the amount of sales when opening Inventory is Rs. 20,000. Purchase Rs. 50,000 wages Rs. 10,000. Closing Inventory Rs. 20,000 and gross profit is 1/7th of sales. (a) (c) 36. (b) (d) Original cost of an asset was Rs. 3,00,000. Salvage value was 40,000. Depreciation for 3rd year @15% p.a. under W.D.V method will be (a) (c) 35. Cost of goods sold Sales The following information pertaining to a firm as on 31 December 2009 Opening Inventory Rs. 20,000 Purchases Rs. 1,50,000 Sales Rs. 1,40,000 Gross profit on sales has been 25%. The cost of goods sold during the year will be (a) (c) 34. Debiting Bill by Rs. 3,600 Debiting Bill Rs. 4,400 Crediting Bill Rs. 3,600 Crediting Bill Rs. 4,400 Rs. 20,000 Rs. 25,000 (b) (d) Rs. 30,000 Rs. 40,000 R & S entered into a joint venture. They purchased a piece of land for Rs. 60,000 and sold it for Rs 80,000 in 2009. Originally R had contributed Rs. 40,000 and S Rs 20,000. What will be the profit on venture? (a) (c) Rs. 25,000 Rs. 60,000 Common Proficiency Test (CPT) Volume - II The Institute of Chartered Accountants of India (b) (d) Rs. 20,000 Rs. 80,000 113 MODEL TEST PAPER - 5 38. Following trading results are available 2006 Loss Rs. 20,000 2007 Loss Rs. 5,000 The value of goodwill on the basis of 3 will be (a) (c) 39. (b) (c) (d) (b) (d) 1:1:2 None of the above Rs. 15,000 Rs. 25,000 (b) (d) Rs. 10,000 None of the above 400 Share Capital A/c Dr. To Share premium A/c To share allotment A/c Share Capital A/c Dr. To Share forfeiture To Share allotment A/c Share Capital A/c Dr. To Share forfeiture A/c To Share allotment A/c None of the above. 150 250 400 250 150 500 250 250 Preference shares of Rs. 3,00,000 are redeemed at par for which fresh equity shares of Rs. 1,20,000 are issued at 20% premium. What amount should be transferred to capital redemption reserve account? (a) (c) 43. 1:2:1 2:1:1 Jain & Co. forfeited 50 shares of Rs. 10 each. Rs.8 called up on which application money of Rs. 5 per share was paid. The entry for forfeiture is (a) 42. Rs. 14,000 Rs. 70,000 X, Y and Z are partners sharing profit and losses in the ratio of 5:3:2. Z retires and goodwill of the firm is to be valued at Rs. 50,000 find the amount payable to retiring partner on account of goodwill. (a) (c) 41. (b) (d) M and N share profit in the ratio of 2:1. O has been admitted with 1/4th share in profit. The new profit sharing ratio of partner will be (a) (c) 40. Rs. 20,000 Rs. 15,000 in respect of the business carried on by a firm 2008 Profit Rs. 30,000 2009 Profit Rs. 15,000 years purchases of average profit of the business Rs. 60,000 Rs. 36,000 (b) (d) Rs. 24,000 Rs. 1,80,000 Goodwill of a firm of Sanju and Manju is valued at Rs. 45,000. It is appearing in the books at Rs. 15,000. Anju is admitted for 1/4th share. The amount of goodwill, which she is supposed to bring will be (a) (c) Rs. 11,250 Rs. 7,500 114 The Institute of Chartered Accountants of India (b) (d) Rs. 15,000 None of the above Common Proficiency Test (CPT) Volume - II 44. X Ltd. issued 5,000 10% debentures of Rs. 125 each at a discount of 5% payable at a premium of 5% at the end of 5 years. The loss on issue of debentures will be (a) (c) 45. (b) (c) (d) Profit & Loss A/c Suspense A/c Goodwill A/c Dr. To O s Capital A/c To P s Capital A/c Goodwill A/c Dr. To O s Capital A/c To P s Capital A/c P s Capital A/c Dr. To O s Capital A/c None of the above 75,000 56,250 18,750 75,000 46,875 28,125 9,375 9,375 Old ratio New ratio (b) (d) Gaining ratio Sacrificing ratio Rs. 4,800 Rs. 8,400 (b) (d) Rs. 6,600 None of the above Bank reconciliation statement is prepared with the balance of (a) (c) 50. (b) (d) Purchased goods from Maya for Rs. 2,400 but was recorded as Rs. 4,200 to the debit of Maya. In the rectifying entry Maya s A/c will be credited with (a) (c) 49. Trading A/c Capital A/c In the absence of any agreement, it is presumed that the new partner acquires his share in profit from the old partner in the (a) (c) 48. Rs. 12,500 Rs. 25,000 The capital of O and P are Rs. 60,000 and Rs. 20,000 respectively with the profit sharing ratio 3:1. They decide to change the ratio to 5:3. On the date of change goodwill is valued at Rs. 75,000. Goodwill account will not appear in the books. Journal entry to give the above effect will be (a) 47. (b) (d) In case a trial balance does not agree the difference is put to (a) (c) 46. Rs. 62,500 Rs. 37,500 Pass book Either (a) or (b) (b) (d) Cash book None of the above If a bill is drawn on 28th January 2010 for 1 month, it will mature on (a) (c) 28 February 2010 2nd March 2010 Common Proficiency Test (CPT) Volume - II The Institute of Chartered Accountants of India (b) (d) 3rd March 2010 None of the above 115 MODEL TEST PAPER - 5 51. A machinery was purchased for Rs. 50,000 on which depreciation was provided @ 15% by SLM method. The book value of the asset at the end of 2nd year will be (a) (c) 52. Disclosure of Accounting Policies Valuation of Inventories Revenue Recognition Change in Financial Position of an Entity Rs. 12,000 Rs. 48,000 (b) (d) Rs. 10,000 Rs. 58,000 Rs. 30,000 Rs. 35,000 (b) (d) Rs. 45,000 Rs. 25,000 Rs. 6,000 Rs. 8,000 (b) (d) Rs. 11,000 Rs. 9,000 Preference shares amounting Rs. 50,000 are redeemed at a premium of 5% by issue of equity shares amounting to Rs. 25,000 at a premium of 10%. The amount to be transferred to capital redemption reserve (a) (c) 58. Rs. 10,000 Rs. 30,000 A machinery purchased for Rs. 40,000 and paid Rs. 5,000 on its installation. The useful life of plant is 5 years and its estimated scrap value is Rs. 5,000. Annual depreciation under the fixed instalment method would be (a) (c) 57. (b) (d) In case opening Inventory was Rs. 15,000, purchases Rs. 25,000, factory lighting Rs. 5,000 and closing Inventory Rs. 10,000. Then, the cost of goods sold had been (a) (c) 56. Rs. 40,000 Rs. 2,000 A machinery purchased for Rs. 30,000 had its book value Rs. 18,000 was sold for Rs. 40,000 the capital profit will be (a) (c) 55. Rs. 36,125 Rs. 50,000 The first Accounting Standard (AS-1) issued by the Institute of Chartered Accountants of India is on (a) (b) (c) (d) 54. (b) (d) Goods purchased for Rs. 80,000; sales Rs. 60,000; Margin 20% on cost; closing Inventory will be (a) (c) 53. Rs. 35,000 Rs. 42,500 Rs. 75,000 Rs. 10,000 (b) (d) Rs. 25,000 Rs. 50,000 (b) (d) An Asset A Revenue Account receivable is (a) (c) A Liability An Expense 116 The Institute of Chartered Accountants of India Common Proficiency Test (CPT) Volume - II 59. If total assets of the firm is Rs. 2,00,000; outside liabilities is Rs. 1,60,000, then capital contributed by the owner will be (a) (c) 60. Rs. 60,000 Rs. 3,60,000 (b) (d) Rs 40,000 None of the above Sales to Ranjan Rs. 600 was not recorded in the book. This will affect (a) (c) Ranjan A/c Neither (a) nor (b) (b) (d) Sales A/c Both (a) and (b) SECTION B : MERCANTILE LAWS (40 MARKS) 61. According to the Indian Contract Act 1872, an agreement in restraint of trade is valid if relates to (a) (b) (c) (d) 62. An agreement to do an impossible act itself is (a) (c) 63. Void Illegal Wagering agreements Agreement contingent upon impossible events Uncertain agreements None of the above Restraint of marriage Restraint of personal liberty Interference with the course of Justice All of the above An illegal agreement is void. However, a collateral transaction to an illegal agreement e.g. money borrowed to carry on an illegal business, is (a) (c) 66. (b) (d) Which of these are opposed to public policy? (a) (b) (c) (d) 65. Valid Voidable Which of the following agreements are valid? (a) (b) (c) (d) 64. Sale of goodwill Mutual agreement Business contingency All of above Void Voidable (b) (d) Valid Uncertain Where the parties to the contract mutually agree to cancel the contract, it is called(a) (c) Remission Novation Common Proficiency Test (CPT) Volume - II The Institute of Chartered Accountants of India (b) (d) Rescission Alteration 117 MODEL TEST PAPER - 5 67. A contingent contract to do or not to do anything, if an impossible event happens, is (a) (c) 68. A third person Representative of the promisor (b) (d) Promisor himself None of the above Joint Joint or several (b) (d) Several Joint and several The entire world A particular person (b) (d) Any person Both (b) & (c) Only agreement to sell is possible Both sale and agreement to sell is possible They are owned by the seller at the time of sale None of the above Partnership is the_____between persons who have agreed to share the profits of a business (a) (c) 75. The act of parties None of the above In case of future goods (a) (b) (c) (d) 74. (b) (d) Quasi contractual right is a right, which is available against (a) (c) 73. Operations of law (a) or (b) The right of joint promisees to demand performance is (a) (c) 72. All the joint promisors to perform Any one of them to perform Some of them to perform Any of the above Contract to marry a person shall be performed by (a) (c) 71. Void Illegal Assignment of contract may be by (a) (c) 70. (b) (d) In case of joint promise, a promisee can compel (a) (b) (c) (d) 69. Valid Voidable Business Trade (b) (d) Relation Venture A partner who has actively engaged in the conduct of partnership is called (a) (c) Nominal partner Sleeping partner 118 The Institute of Chartered Accountants of India (b) (d) Working partner Dormant partner Common Proficiency Test (CPT) Volume - II 76. A firm is the name of (a) (b) (c) (d) 77. The ratio in which partners share profits and losses are (a) (b) (c) (d) 78. (b) (d) By lapse of time By all of the above Rescission Alteration of contract (b) (d) Novation Waiver Rescission Specific performance (b) (d) Injunction Quantum meruit There are special circumstances There is special loss There is notice of the likely special loss In all cases Passing of property implies passing of (a) (c) 84. By operation of law By performance Where there is breach of contract, special damages are awarded only when _________. (a) (b) (c) (d) 83. Maharashtra Goa ________ means termination of contract. (a) (c) 82. (b) (d) On substitution of a new contract, the old contract is discharged is known as ______. (a) (c) 81. Uttar Pradesh Jammu and Kashmir A contract can be discharged (a) (c) 80. Based on agreement Based on the contract Act Equal Based on the decision of the registrar of firms. The Partnership Act extends to the whole of India except the state of (a) (c) 79. The partners The minors in the firm The business under which the firm carries on business The collective name under which partners carry on business. Ownership Ownership & Possession (b) (d) Possession Benefit & Possession The goods which have not been identified and agreed upon at the time of contract of sale are _________ goods. (a) (c) Contingent Unascertained Common Proficiency Test (CPT) Volume - II The Institute of Chartered Accountants of India (b) (d) Future Unappropriated 119 MODEL TEST PAPER - 5 85. An auctioneer is an agent governed by the (a) (c) 86. Alternation Implied contract Void Voidable (b) (d) Valid Illegal Is presumed Is not applicable (b) (d) Is applicable Does not exist Sub-partnership Partnership at will (b) (d) Partnership by estoppels None of the above Contract or understanding Mutual agency (b) (d) Status or contract Either (a) or (b) Collaborative Conclusive (b) (d) Confirmative Not a Conclusive Goods means every kind of movable property excluding _________. (a) (c) 94. (b) (d) Sharing of profits is __________ evidence of existence of partnership. (a) (c) 93. Contingent Contract Quasi Contract Co-ownership may arise either by ___________. (a) (c) 92. Valid Voidable Partnership by holding out is also known as (a) (c) 91. (b) (d) The implied condition as to quality or fitness __________ where the buyer contracts for a specified article under its patent or other trade name not relying on the spill and judgment of the seller. (a) (c) 90. Real Real and valid Implied contract even if not is writing or express words, is perfectly __________ if other conditions are satisfied. (a) (c) 89. Law of partnership Law of mutual consent A contract implied by law is known as __________. (a) (c) 88. (b) (d) A Quasi Contract is not a _________ contract. (a) (c) 87. Law of agency Law of limitaiton Stock and shares Both (a) and (b) (b) (d) Growing crops, grass Actionable claims and currency money Where the contingency of event merely indicates the mode or manner of performance, the contract is not _________. (a) (c) Valid contingent 120 The Institute of Chartered Accountants of India (b) (d) Void Lawful Common Proficiency Test (CPT) Volume - II 95. The event upon which performance of a contingent contract depends must not depend on the __________ of the promisor. (a) (c) 96. (b) (d) Void Unenforceable Fraud Mistake (b) (d) Error Misrepresentation Beneficial owner Quasi owner (b) (d) Absolute owner All of the above A invites B to stay with him during winter vacation B accepts the invitation and informs A accordingly when B reaches A s house he finds it locked and he has to stay in a hotel. Can B claim damages from A. (a) (c) 100. Valid Voidable In a contract of sale of goods, the seller can sell only such goods of which he is the (a) (c) 99. Deeds Principles Under Sec. 10 of the partnership Act, 1932 every partner shall indemnify the firm for loss caused to it by his __________. (a) (c) 98. (b) (d) Sale by an Official Receiver/Liquidator of the company or finder of goods is (a) (c) 97. Will Rules B can claim damages B can file a suit against A (b) (d) B cannot claim any damages None of these A and B , co-owners of a house, let it to a paying guest. They divide the net rents between them. Are they partners? (a) (c) A and B are partners A and B are half partners (b) (d) A and B are not partners None of these SECTION C : GENERAL ECONOMICS (50 MARKS) 101. Who said Economics is a science of dynamic growth and development ? (a) (c) 102. (b) (d) Paul A. Samuelson Robbins Who Said Economics should be neutral between ends ? (a) (c) 103. J. B. Say Alfred Marshal J. B. Say Robbins (b) (d) Alfred Marshall A. C. Pigou If marginal opportunity cost is falling , the PPF would be: (a) (c) Straight line Backward bending Common Proficiency Test (CPT) Volume - II The Institute of Chartered Accountants of India (b) (d) Concave Convex 121 MODEL TEST PAPER - 5 104. Which of the following would result in a rightward shift of PPF? (a) (b) (c) (d) 105. Calculate Income-elasticity for a household when the income of this household rises by 5% and the demand for buttons does not change at all. (a) (c) 106. (b) (d) One None of the above What a consumer is ready to pay + what he actually pays What a consumer is ready to pay what he actually pays What he actually pays - what a consumer is ready to pay None of the above Falling MRS Constant MRS (b) (d) Rising MRS None of the above Savings Mobilisation of Saving (b) (d) Mobilisation of Income Investment Which of the following in correct? (a) (b) (c) (d) 111. Infinite Zero Which of the following is not included in the stages of capital formation? (a) (c) 110 . 1 Zero Indifference curve is convex to the origin due to: (a) (c) 109. (b) (d) Consumer Surplus is: (a) (b) (c) (d) 108. Infinity 5 If the goods are perfect substitutes for each other then cross elasticity is (a) (c) 107. An increase in investment in speculative activities by diverting funds from other productive activities. A reduction in unemployment rate The discovery of new gold reserves in the country Increase in number of people taking leisure activities by taking early retirement from their jobs Disinvestment and Privatisation are separate Privatisation is a narrower concept as compared to disinvestment Privatisation and Disinvestment mean the same Disinvestment is a narrower concept than privatisation The cost of tax collection was more than _________ in 2011-12 (a) (c) 543 crs 8000 crs 122 The Institute of Chartered Accountants of India (b) (d) 7100 crs 8300 crs Common Proficiency Test (CPT) Volume - II 112. SEZ stands far (a) (c) 113. (d) 4.5% 3% (b) (d) 5.6% 2.1% 26 percent 49 percent (b) (d) 74 percent 100 percent 1990 1992 (b) (d) 1991 1993 In 1991 foreign exchange reserves were just sufficient to finance imports of 3 days. In 1991 foreign exchange reserves were just sufficient to finance imports of 3 weeks. In 1991 foreign exchange reserves were just sufficient to finance imports of 3 months In 1991 foreign exchange reserves were just sufficient to finance oil import bill of 3 weeks. DFEC stands far: (a) (c) 120. 1991 2000 Which of the following statement is correct? (a) (b) (c) (d) 119. (b) (d) Economic Reforms in India were started in the year: (a) (c) 118. 1992 1994 FDI permitted in defense sector in India (a) (c) 117. Revenue-Led Fiscal Consolidation Rationalisation of Tax Regime Improve competitiveness of domestic goods and services in a globalised economic environment Capital led fiscal consolation As far as the agro-imports are concerned they constituted less than ______ % of national import in 2011-12 (a) (c) 116. Special Economic Zones Software Efficiency Zone Tax Reform Committee was set up in: (a) (c) 115. (b) (d) FRBMA, 2003 emphasises on the following except: (a) (b) (c) 114. Software Economic Zones Special Efficiency Zone Duty Freedom Export Credit Direct Foreign Exchange Control (b) (d) Duty Free Export Credit Duty Free Exchange Credit FIEO Stands for (a) (b) (c) (d) Federation of Indian Export organisation Federation of Export organisation Foreign Import Export organisation Financial Import Export organisation Common Proficiency Test (CPT) Volume - II The Institute of Chartered Accountants of India 123 MODEL TEST PAPER - 5 121. Rupee was devalued in: (a) (c) 122. (b) (d) 5 8 World Bank IMF (b) (d) UNO WTO RBI NABARD (b) (d) WTO SEBI Insurance Hotels and Tourism (b) (d) Banking SEBI Education should be made job oriented Vocational education should be discouraged The standard of education should be raised Expansion of education should be carefully planned since it is costly NIXI stands for: (a) (b) (c) (d) 129. 3 7 Which of the following is not the suggestion for improving education system? (a) (b) (c) (d) 128. 10 9 100% FDI is allowed in ____________. (a) (c) 127. (b) (d) To mee the requirements of farmers and villagers _____ was set up as an apex Bank. (a) (c) 126. 6 18 If any country needs funds for long term development of the nation, then the country should approach___________. (a) (c) 125. July 1992 July 1994 At present _____________ industries are reserved for the public sector. (a) (c) 124. (b) (d) At present there are only _____________ industries for which licensing in compulsory. (a) (c) 123. July 1990 July 1991 National Internet Exchange of India New Information Exchange of India National Information Exchange of India Nutrition Information Exchange of India NHPC stand for: (a) (b) (c) (d) Nuclear Hydroelectric Power Corporation National Hydro Power Corporation National Hydro Public Corporation National Hydroelectric Power Corporation 124 The Institute of Chartered Accountants of India Common Proficiency Test (CPT) Volume - II 130. Non-Commercial traditional sources of energy are (a) (c) 131. 20-30% 40-50% (b) (d) 30-40% 50-60% Second Fifth (b) (d) Third Ninth They are labour intensive and India is a labour surplus economy They are capital intensive and India is a capital surplus economy They offer method of inequitable distribution of income and wealth None of the above 2001-02 2002-03 (b) (d) 2000-01 2004-05 India s debt service ratio is ______ in 2011-12 (a) (c) 138. Large number of industries face under utilization of production capacity The incremental capital output ratio has been falling over the planning period Industrial Development is balanced in all regions None of the above CENVAT was introduced in the year: (a) (c) 137. Second Plan Fourth Plan Small units exist in India because: (a) (b) (c) (d) 136. (b) (d) At present, India has the ________ largest scientific and technical manpower in the world (a) (c) 135. First Plan Third Plan Nearly _______ % of labour force is engaged in service sector (a) (c) 134. Dung Cakes All of the above Which of the following statements in correct? (a) (b) (c) (d) 133. (b) (d) Three steel plants in Bhilai, Raurkela and Durgapur were set up in the: (a) (c) 132. Fire wood Agricultural wastes 11.5% 13.5% (b) (d) 6% 10.2% Advalorem duty means duty imposed on the basis of: (a) (b) (c) (d) Percentage of price of the commodity Per unit on the commodity Both (a) and (b) None of the above Common Proficiency Test (CPT) Volume - II The Institute of Chartered Accountants of India 125 MODEL TEST PAPER - 5 139. We mainly study the following in Micro Economics : (a) (c) 140. (b) (d) MC = AC AC = AR AVC and AC AC and AFC (b) (d) AFC and AVC All the above Normal Profits Less production (b) (d) Super Normal Profit Cost will be falling Monopolist can earn only profits Firms in a perfectly competitive market are price maker Industry in a perfectly competitive market is a price taker AR curve and demand curve are same Oligopoly Monopolistic competition (b) (d) Perfect competition Monopoly A purely competitive firm s supply schedule in the short run is determined by: (a) (c) 147. AR = MR MC = MR Soap industry is an example of: (a) (c) 146. Micro Economics None of the above Which of the following statements is correct? (a) (b) (c) (d) 145. (b) (d) In perfect competition in the long run there will be ___________ . (a) (c) 144. Macro Economics Both (a) and (b) MC curve cuts ______________ curves at their minimum points. (a) (c) 143. Study of firms All of the above When ______________, we know that firms are earning just normal profits (a) (c) 142. (b) (d) When we study why saving rates are high or low , we are studying: (a) (c) 141. Location of a Industry Factor pricing Its average revenue Its marginal cost curve (b) (d) Its marginal revenue Marginal utility for money curve When price is less than average variable cost at the profit maximizing level of output, a firm should: (a) (b) (c) (d) Shut down, since it cannot recover its variable cost Produce where MC = MR, if operating in short run Produce where MC = MR, if operating in long run None of the above 126 The Institute of Chartered Accountants of India Common Proficiency Test (CPT) Volume - II 148. A firm encounters its shut down point when: (a) (b) (c) (d) 149. In which form of the market structure is the degree of control over the price of its product by a firm is very large? (a) (c) 150. Average total cost equals price at the profit maximising level of output Average variable cost equals price at the profit maximising level of output Average fixed cost equals price at the profit maximising level of output Marginal cost equals price at the profit maximising level of output Imperfect competition Oligopoly (b) (d) Monopoly Perfect competition For the Price taking firm: (a) (b) (c) (d) Marginal Revenue is less than price Marginal revenue is greater than price The relationship between marginal revenue and price is not clear Marginal revenue is equal to average revenue SECTION D : QUANTITATIVE APTITUDE (50 MARKS) 151. A fraction is such that if the numerator is multiplied by 3 and the denominator is reduced by 3, we get 18/11, but if the numerator is increased by 8 and the denominator is doubled, we get 2/5. Then the fraction is (a) (c) 152. 17/25 None of these 1:2 2:3 (b) (d) 1:3 None of these The sum of three consecutive even numbers is 15 less than three fourth of 60. What is middle number? (a) (c) 154. (b) (d) When a number is added to another number the total becomes 150 percent of the second number. What is the ratio between the first and the second number. (a) (c) 153. 13/25 12/25 15 12 (b) (d) 10 None of these Five years ago, I was thrice as old as my son and ten years later I shall be twice as old as my son. How old are we now ? (a) (c) 50, 20 65, 25 Common Proficiency Test (CPT) Volume - II The Institute of Chartered Accountants of India (b) (d) 45, 15 None of these 127 MODEL TEST PAPER - 5 155. The compound ratio of 4: 3, 9:13, 26 : 5 and 2 : 15 is (a) (b) 16 25 (c) 156. 4 25 18 27 (d) None of these If 56 Pr+6 : 54 Pr+3 = 30800 : 1 then the value of r is (a) (c) 157. (b) (d) 20160 None of these 40 48 (b) (d) 42 None of these 2598960 5298216 (b) (d) 1506210 None of these Sum of the digits of a two digits number is 9. The number obtained by reversing the order of digits of the given number exceeds the given number by 27. Then the given number is (a) (c) 161. 20000 21160 Find the number of different poker hands in a pack of 52 playing cards. (a) (d) 160. 41 None of these There are 6 students of whom 2 are Indians, 2 Americans, and the remaining 2 are Russians. They have to stand in a row for a photograph so that the two Indians are together, the two Americans are together and so also the two Russians,. Find the number of ways in which they can do so. (a) (c) 159. (b) (d) When John arrives in New York, he has eight shops to see, but he has times only to visit six of them. In how many different ways can he arrange his schedule in New York? (a) (c) 158. 42 45 30 40 (b) (d) 36 None of these 9x 3x Evaluate lim x x 0 4 2 x 3 2 (a) log3 log2 (b) log (c) log 6 (d) None of these 128 The Institute of Chartered Accountants of India Common Proficiency Test (CPT) Volume - II 162. (5x 1)2 Evaluate log e (1 + x) (a) (c) 163. (log 5)2 None of these 2 Does not exist (b) (d) 2 None of these If f(x) = x 1; if 1 < x < 2 , f(x) = 2x 3; if 2 < x < 3, then given function is (a) (c) 165. (b) (d) f(x) If f(x) = x + 1; for x < 1 and f(x) = 3 x2; for x > 1 find lim x 1 (a) (c) 164. log 5 2log 5 Continuous at x = 2 Cannot say (b) (d) Discontinuous at x = 2 None of these 3x 2 + 2x + 7 is The points of discontinuity of the function 2 x 3x + 2 (a) (c) 1, 2 1, 2 (b) (d) 1,2 None of these (a) x2 log log + c 2 (b) log (log x ) + c (c) log (log x2 ) + c (d) None of these (b) (d) log10 e(x log x x) + c None of these 1 166. 167. Evaluate Evaluate (a) (c) 168. x log x dx log 10 x dx log10(x log x x) + c log10 e(x log x 10) + c 4e x + 6e x dx Evaluate x 9e 4e x ( ) (a) 3 35 log e 2x + log 9e 2x 4 + c 4 36 (b) 9 36 log e x + log 4e x + 6e x + c 8 35 ( ) Common Proficiency Test (CPT) Volume - II The Institute of Chartered Accountants of India 129 MODEL TEST PAPER - 5 (c) (d) 169. 3 35 log e x + log ( 9e x 4e x ) + c 2 36 None of these Evaluate (a) (b) (c) (d) 170. dx x2 a2 ( log ( x log ( x + ) log x x 2 a 2 + c 2 ) a2 + c ) x2 a2 + c None of these Evaluate (x - 3) x 2 6x + 100 dx (a) (b) (c) 171. 3/2 1 2 x 6 x + 100 ) + c ( 3 2/3 1 3 x 6x 2 + 100 ) + c ( 3 (d) 63 60 (b) (d) 64 None of these In an examination a candidate has to pass in each of the 4 papers. In how many different ways can be failed? (a) (c) 173. None of these In how many different ways can I invite one or more of my 6 friends? (a) (c) 172. 2/3 1 3 x 6x 2 + 100 ) + c ( 6 14 15 (b) (d) 16 None of these In an election the number of candidates is one more than the number of members to be elected. If a voter can vote in 254 different ways; find the number of candidates. (a) (c) 8 7 130 The Institute of Chartered Accountants of India (b) (d) 10 None of these Common Proficiency Test (CPT) Volume - II 174. From 17 consonants and 5 vowels, how many words of 3 consonants and 2 vowels can be made if all the letters are different? (a) (c) 175. It should not be purchased It should be purchased Cannot determined None of these 1% 2% (b) (d) 0.5% None of these 10% 15% (b) (d) 5% None of these 7% 5% (b) (d) 6% None of these If Simple Interest on Rs. 2,000 increases by Rs. 40, when the rate percent increases by 2% per annum. Find the time (in years)? (a) (c) 181. 1700 None of these If the simple interest on Rs. 1,200 be more the interest on Rs. 1,000 by Rs. 30 in 3 years. Find the rate percent per annum. (a) (c) 180. (b) (d) A man deposits Rs. 2,000 in a bank at 4% per annum and Rs. 3,000 in UTI at 14% per annum. Find the rate of interest for the whole sum. (a) (c) 179. 1720 1728 If simple interest on Rs. 2,000 increases by Rs. 40, when the time increases by 4 years. Find the rate percent per annum. (a) (c) 178. 816000 None of these Earnings from a new machine after taxes (cost savings or profits) are expected to be Rs. 34,000 per year. The machine costs Rs. 1,50,000 and after 5 years, it has no resale value. A loan can be made for this amount payable in five equal annual instalments at 5% p.a. on the unpaid balance of the loan. Should management buy the machine? (a) (b) (c) (d) 177. (b) (d) A boat is to be manned by 8 men of which 3 can row only one side and 2 only on the other. In how many ways can the crew be arranged? (a) (c) 176. 810000 815000 1 1 (b) (d) 2 None of these The average of 2 numbers is 20 and their Standard Deviation is 5. Find the two numbers. (a) (c) 15, 25 10, 15 Common Proficiency Test (CPT) Volume - II The Institute of Chartered Accountants of India (b) (d) 30, 40 None of these 131 MODEL TEST PAPER - 5 182. In series of 5 observations, the values of mean and variance are 4.4. and 8.24 respectively. If three observations are 1, 2 and 6 then the value of other two observations are (a) (c) 183. 3, 2 10, 4 (b) (d) 4, 9 None of these For individual series, the rank of the median is th th (a) N +1 term 4 (b) N +1 term 2 (c) 3 ( N + 1) term 2 (d) None of these th 184. Find the rank of the Median in the given series 3, 2, 4, 6, 5, 7 (a) (c) 185. (b) (d) 30 None of these 4 Cannot determined (b) (d) 5 None of these 1/2 (bxy + byx) = r 1/2 (byx + byx) > r (b) (d) 1/2 (bxy+ byx) < r None of these The correlation between two variables x and y is found to be 0.4. What is the correlation between 2x and ( y) ? (a) (c) 189. 20 25 Which one of the following is a true statement? (a) (c) 188. 4 None of these The two regression lines are 5x = 22 + y & 64x = 24 + 45y. Find the Standard Deviation of y from the given information. (a) (c) 187. (b) (d) The relation between two variables is 2x + 3y 10 = 0. If mean of y is 50, then mean of x is (a) (c) 186. 3.5 4.5 0.4 0.6 (b) (d) 0.4 None of these Find the coefficient of correlation between the following set of observation: X: 85 Y: (a) (c) 69 70 87 1 0 132 The Institute of Chartered Accountants of India (b) (d) -1 None of these Common Proficiency Test (CPT) Volume - II 190. Find the correlation coefficient between the following set of observation. X: 191. (b) (d) U Shaped None of these 1 0 (b) (d) 2 None of these touch either (a) or (b) (b) (d) never touch None of these 7.05 8.05 (b) (d) 6.05 None of these 5, 10, 0, 100 0, 10, 0, 300 (b) (d) 10, 6, 0, 200 None of these 90% 95% (b) (d) 99% 99.73% (b) (d) Statistic None of these (b) (d) Non random sampling None of these Sample mean is a (a) (c) 198. Bell J shaped The most commonly used confidence limit is (a) (c) 197. 1 None of these For a normal distribution, the first moment about origin is 35 and the second moment about 35 is 10. Find the first four central moments. (a) (c) 196. (b) (d) For a normal distribution with mean 2 and variance 9, find the value of x such that the probability of the interval (2, x) is 0.4115. (a) (c) 195. 1 0 The two tails of the normal curve extend infinitely on both sides of the curve . The horizontal axis. (a) (c) 194. 48 The total area of the normal curve or for that any probability curve is taken to be (a) (c) 193. 50 The normal curve is . Shaped. (a) (c) 192. 109 Y: (a) (c) 102 Parameter Both Deliberate sampling is a (a) (c) Random sampling Both (a) and (b) Common Proficiency Test (CPT) Volume - II The Institute of Chartered Accountants of India 133 MODEL TEST PAPER - 5 199. Stratified random sampling is used for .. Population. (a) (c) 200. Homogeneous Either (a) or (b) (b) (d) Non homogeneous None of these Random sampling is also called lottery sampling. (a) (c) False Both (b) (d) True None of these YYY 134 The Institute of Chartered Accountants of India Common Proficiency Test (CPT) Volume - II Answer of Model Test Papers Model Test Paper BOS/CPT 5 SECTION A : FUNDAMENTALS OF ACCOUNTING 1. (a) 2. (d) 3. (c) 4. (d) 5. (b) 6. (a) 7. (d) 8. (a) 9. (c) 10. (b) 11. (d) 12. (b) 13. (a) 14. (c) 15. (d) 16. (a) 17. (d) 18. (c) 19. (b) 20. (d) 21. (a) 22. (b) 23. (c) 24. (b) 25. (a) 26. (c) 27. (d) 28. (c) 29. (a) 30. (b) 31. (c) 32. (a) 33. (d) 34. (d) 35. (a) 36. (c) 37. (b) 38. (c) 39. (c) 40. (b) 41. (b) 42. (d) 43. (a) 44. (a) 45. (d) 46. (c) 47. (a) 48. (b) 49. (c) 50. (b) 51. (a) 52. (d) 53. (a) 54. (b) 55. (c) 56. (c) 57. (b) 58. (b) 59. (b) 60. (d) SECTION B : MERCANTILE LAWS (40 MARKS) 61. (a) 62. (b) 63. (d) 64. (d) 65. (a) 66. (b) 67. (b) 68. (d) 69. (c) 70. (b) 71. (a) 72. (c) 73. (a) 74. (b) 75. (b) 76. (d) 77. (a) 78. (c) 79. (d) 80. (b) 81. (a) 82. (c) 83. (a) 84. (c) 85. (a) 86. (a) 87. (c) 88. (b) 89. (c) 90. (b) 91. (b) 92. (d) 93. (d) 94. (c) 95. (a) 96. (a) 97. (a) 98. (b) 99. (b) 100. (b) Common Proficiency Test (CPT) Volume - II The Institute of Chartered Accountants of India 283 ANSWERS Answer of Model Test Papers Model Test Paper BOS/CPT 5 SECTION C : GENERAL ECONOMICS (50 MARKS) 101 (b) 111 (b) 121 (c) 131 (b) 141 (d) 102 (c) 112 (b) 122 (a) 132 (a) 142 (a) 103 (d) 113 (d) 123 (a) 133 (a) 143 (a) 104 (c) 114 (b) 124 (a) 134 (b) 144 (d) 105 (d) 115 (c) 125 (c) 135 (a) 145 (c) 106 (a) 116 (a) 126 (c) 136 (b) 146 (c) 107 (b) 117 (b) 127 (b) 137 (b) 147 (a) 108 (a) 118 (b) 128 (a) 138 (a) 148 (b) 109 (b) 119 (b) 129 (d) 139 (d) 149 (b) 110 (d) 120 (a) 130 (d) 140 (a) 150 (d) SECTION D : QUANTITATIVE APTITUDE (50 MARKS) 151. (c) 152. (a) 153. (b) 154. (a) 155. (b) 156. (b) 157. (b) 158. (c) 159. (a) 160. (b) 161. (a) 162. (d) 163. (a) 164. (a) 165. (a) 166. (b) 167. (b) 168. (a) 169. (c) 170. (a) 171. (a) 172. (c) 173. (a) 174. (b) 175. (c) 176. (a) 177. (b) 178. (a) 179. (c) 180. (a) 181. (a) 182. (b) 183. (b) 184. (a) 185. (d) 186. (c) 187. (c) 188. (b) 189. (a) 190. (b) 191. (a) 192. (a) 193. (b) 194. (b) 195. (c) 196. (c) 197. (b) 198. (b) 199. (b) 200. (b) 284 The Institute of Chartered Accountants of India Common Proficiency Test (CPT) Volume - II 200. Mean and variance never be equal Statement is false Ans. (b) False Model Test Paper BOS/CPT 5 151. Let the fraction be x/y. Then according to the given condition of the problem, 3x 18 = y 3 11 33x = 18y 54 33x 18y+54 = 0 11x 6y+18 = 0 and .................... (i) x+8 2 = 2y 5 5x + 40 = 4y 5x 4y+40 = 0 .....................(ii) (i) 2 22x 12y+36 = 0 .....................(iii) (ii) 3 15x 12y+120 = 0 .... ................(iv) (iii) (iv),we get 7x 84 = 0 7x= 84 x = 84/7 = 12 (i) (11) (12) 6y + 18 = 0 132 6y + 18 = 0 6y = 150 y =150/6 = 25 Hence, the required fraction is 12/25 Ans. (c) 152. Let the two numbers are x and y Given x + y = 150 % of y Common Proficiency Test (CPT) Volume - II The Institute of Chartered Accountants of India 351 ANSWERS 150 y 100 = x + y = 1.5y x = 0.5 y x = 1 y 2 Ans. (a) 153. Let three consecutive even numbers are x, x + 2, x + 4. 3 Given condition is x + (x+2) + (x+4) = 60 15 4 3x + 6 = 30 3x = 24 x= 24 =8 3 The middle number = x + 2 = 8 + 2 = 10 Ans. (b) 154. Suppose my present age is x years and my sons present age is y years Five years ago my age = (x 5) years my son's age = (y 5) years According to the first condition of the problem, x 5= 3(y 5) x 5 = 3y 15 x 3y = 15 + 5 x 3y = 10 .................(i) Ten years later my age = (x+10) years my son's age = (y+10) years According to the second condition of the problem, x+10 = 2(y+10) x+10 = 2y+20 x-2y = 20 10 352 The Institute of Chartered Accountants of India Common Proficiency Test (CPT) Volume - II x 2y = 10 ..................(i i) (i) (ii) y = 20 (i) x 60 = 10 x = 60 10 = 50 Hence, my presence age = 50 years and my son's present age = 20 years Ans. (a) 155. The compound ratio of 4:3, 9:13, 26:5 and 2:15 is = 4 9 26 2 3 13 5 15 = 16 25 Ans. (b) 156. We know nPr = 56 Pr + 6 = = n! (n 4 ) ! 56 ! {56 (r + 6 )}! 56 ! (50 r )! 54 Pr + 3 = 54 ! {54 (r + 3 )}! 54 ! (51 r )! = Thus, 56 Pr +3 56 ! (51 r )! = 54 Pr +3 (50 r )! 54 ! = 56 55 54 ! (51 r ) (50 r )! (50 r )! 54 ! = 56 55 (51 r ) 1 But we are given the ratio as 30800 : 1 56 55 (51 r ) 30800 = 1 1 Common Proficiency Test (CPT) Volume - II The Institute of Chartered Accountants of India 353 ANSWERS (or) (51 r)! = 30800 = 10 r = 41 56 55 Ans. (b) 157. He can arrange his schedule in 8P6 = 8 7 6 5 4 3 = 20160 ways. Ans. (b) 158. The two Indians can stand together in 2 P 2 = 2! = 2 ways. So is the case with the two Americans and the two Russians. Now these 3 groups of 2 each can stand in a row in 3 P 3 = 3 2 = 6 ways. Hence by the generalized fundamental principle, the total num ber of ways in which they can stand for a photograph under given conditions is 6 2 2 2 = 48 Ans. (c) 159. This is the number of combination of 52 cards taken five at a time. Now applying the formula. 52C 5 = 52 ! 5!(52 5 )! = 52 ! 5! 47 ! = 52 51 50 49 48 47 ! 5 4 3 2 1 47 ! = 2598960 Ans. (a) 160. Let the unit's digit of the number be x and the ten's digit by y. Then x + y = 9 (1) and the number = 10y + x Reversing the order of digits of the given number, Unit's digits becomes y and ten's digits becomes x Now number = 10x + y According to the given condition of the problem, 354 The Institute of Chartered Accountants of India Common Proficiency Test (CPT) Volume - II (10x + y) (x+10y) = 27 10x + y x 10y = 27 9x 9y = 27 x y = 3 (2) Adding (1) and (2), 23 get 2 = 12 12 =6 2 x= (1) 6 + y = 9 y=9 6=3 The given number is 36 Ans. (b) x 161. 9 3 Lt x 0 x 4x 2x (9 x 1) (3 x 1) x Lt x x x 0 ( 4 1) ( 2 1) x 9 x 1 3 x 1 log 9 log 3 x x Lt x x x 0 4 1 2 1 log 4 log 2 x x 2 log 3 log 3 log 3 = 2 log 2 log 2 log 2 Ans. (a) 162. Lt x 0 log 3 log 2 (5 x 1) 2 5 2 x 2 .5 x + 1 = log (1 + x) log (1 + x) Lt x 0 (25 x 2 .5 x + 1) log (1 + x) 25 x 1 5 x 1 x 2 x Lt log(1 + x) x 0 x App Lt Common Proficiency Test (CPT) Volume - II The Institute of Chartered Accountants of India 355 ANSWERS log 25 2 . log 5 log 25 log 25 = =0 1 1 Ans. (d) None of these 163. Lt f(x) Lt (x+1) x 1 x 1 App Lt 1+1=2 Ans. (a) 2 164. LHL Lt (x 1) x 2 App Lt 2 1 = 1 LHL = 1 RHL Lt (2x 3) x 2 App. Lt LHL 2.2 3 = 1 LHL = RHL = f(2) f(2) = 2.2 3 = 1 f(x) Continuous at x = 2 Ans. (a) Continuous x = 2 2 3x + 2x + 7 165. f(x) = x2 3x + 2 = 3x2 + 2x + 7 ( x 2 ) ( x 1) To be continuous (x 2) 0 & (x 1) 0 x 2&x 1 Points of discontinuity = 1, 2 Ans. (a) 1, 2 166. Let z = log x dz = 1 dx x dx = x dz I= = 1 1 x log x dx = x.z xdz 1 z dz 356 The Institute of Chartered Accountants of India Common Proficiency Test (CPT) Volume - II = log z = log (log x) + c ans. (b) log10 167. Let I = x dx = log e . log10 dx = e log10 log x.1 dx = 1 e log10 log x.x x dx I= e [x log x x] + c log10 x 4 e x + 6e x 9e x 4 e x 168. Let I = e I= dx 4e 2x + 6 9e 2 x 4 dx Let t = e 2 x dt = 2 e 2 x dx = 2t dx I= 4 t + 6 dt 2t + 3 = dt 2t t (9 t 4 ) 9t 4 0+3 2 (4 / 9 ) + 3 3 35 = + dt t (0 4 ) 4 / 9 (9 t 4 ) = + dt 4 t 4 (9 t 4 ) = 3 35 log(9 t 4 ) log t + . +c 4 4 9 = ( ) 3 35 log e 2 x + log 9 e 2 x 4 + c 4 36 Ans. (a) 169. See formula from the text book Ans. (c) Common Proficiency Test (CPT) Volume - II The Institute of Chartered Accountants of India 357 ANSWERS 170. Put x 2 6 x + 100 = t x 2 6 x + 100 = t 2 (2x 6) dx = 2t dt (x 3) dx = t dt (x 3) x 2 6 x + 100 dx = = t x 2 6 x + 100 ( x 3 ) dx t.tdt = 2 dt t3 +c 3 = = 1 2 x ( x 6 + 100 ) 3 / 2 + c 3 Ans. (a) 171. No. of ways in which one or more friends may invited = 6 C1 + 6 C 2 + 6 C 3 + 6 C 4 + 6 C 5 + 6 C 6 = 2 6 1 = 63 ways. Ans. (a) 63 ways. 172. No. of ways of failure of candidate. = 4 C1 + 4 C 2 + 4 C 3 + 4 C 4 = 2 4 1 = 15 ways. Ans. (c) 15 358 The Institute of Chartered Accountants of India Common Proficiency Test (CPT) Volume - II 173. A voter can vote in the following ways 254 = n C1 + n C 2 + n C 3 + n C 4 + n C 5 + n C 6 + n C 7 .... n C n 1 254 = 2 n (n C n + 1) = 2 n (1 + 1) 256 = 2 n 2 8 = 2 n n = 8 Total candidate s = 8 Ans. (a) 8 174. No. of words of 3 consonants and 2 vowels among 17 consonants and 5 vowels are = 17 C 3 5 C 2 5 ! = 816000 Ans. (b) 81,6000 176. The present value of annual profit V = A.P. (ni) = 34000 3.7079 V = 128886 which is less than initial cost of machine. Machine must not be purchased Ans. (a) Machine should not be purchased. 177. 40 = 2000 r 4 100 r = -0.5% Ans. (b) 0.5% Common Proficiency Test (CPT) Volume - II The Institute of Chartered Accountants of India 359 ANSWERS 178. I1 = 2000 I2 = 3000 4 1 = 80 100 14 1 = 420 100 Total Interest = 500 rate of interest = 500 100 = 10% 5000 1 r = 10% Ans. (a) r = 10% 179. I1 I 2 = 30 1200 R R 3 1000 3 =30 100 100 36R 30R = 30 6R = 30 R = 5% Ans. (c) 5% 180. 40 = 2000 2 n 100 n = 1 yr. Ans. (a) = 1 yr. 181. a +b = 20 a + b = 40 2 SD = 5 (1) a b =5 2 a b = 10 (2) 2a = 50 a = 25 b = 15 Ans. (a) 25, 15 360 The Institute of Chartered Accountants of India Common Proficiency Test (CPT) Volume - II x 182. Mean = n 1+ 2 + 6 + a + b 5 4.4 = a + b = 13 (1) 2 x2 x2 = N x 2 ( 4 .4 ) 2 8.24 = x2 5 = 138 1 + 4 + 9 + a 2 + b 2 = 138 a 2 + b 2 = 138 a 2 + (13 a) 2= 138 a 2 13a 36 = 0 a = 9, 4 Nos 9, 4 th N +1 183. For individual series, the rank of the median is = term 2 th Ans. (b) N +1 term 2 184. Rank of the median of the series 2, 3, 4, 5, 6, 7 th th = N +1 6 +1 term = term 2 2 = 3.5 th term Ans. (a) 3.5 185. Regression Eq. 2x + 3y 10 = 0 If y = 50 2x = +10 3 50 = 140 x = 70 None of these Ans. (d) None of these. Common Proficiency Test (CPT) Volume - II The Institute of Chartered Accountants of India 361 ANSWERS 186. Ans. (c) Refer Properties 187. Ans. (c) Refer Properties 188. Given r (x, y) = 0.4 (1) a c .r ( x, y ) (2) | a | | c | We know that r (a X, cY) = Using (2) in (1), we get r (2x, y) = r (2x, 1y) = 2 ( 1) .r ( x, y ) | 2 | | 1 | = 2 0 .4 2 1 r (2x, y) = 0.4 Ans. (b) 189. Computation of Correlation Coefficient x y xy x2 y2 69 85 70 87 4830 7395 4761 7225 4900 7569 157 12225 11986 12469 Total 154 154 157 x= = 77 , y = = 78 .5 2 2 Cov (x,y) = = x iy i n xy = 12225 (77) (78.5) 2 68 Sx = = = n= = 11986 (77 ) 2 2 y i2 y 2 = 12469 (78 . 5 ) 2 = 8 .5 2 8 Sy x i2 x 2 n n Cov (x, y ) 68 68 = = =1 Sx Sy 8 8 .5 68 Ans. (a) 362 The Institute of Chartered Accountants of India Common Proficiency Test (CPT) Volume - II 190. Computation of correlation Co efficient. x x= x2 y2 50 48 5100 5232 10404 11881 2500 2304 211 98 10332 22285 4804 211 98 = 105 .5 , y = = 49 2 2 Cov (x, y) = = xi yi x y = 10332 (105 .5 ) (49 ) n 2 5166 5169.5 = 3.5 Sx = xi2 x 2 n Sy = Sx = xy 102 109 Total y n= = yi2 y 2 n 22285 (105 .5 )2 = 3 . 5 2 = 4804 (49 )2 = 1 2 Cov (x, y ) 3 .5 = = 1 (3 .5 ) (1) Sx Sy Ans. (b) 191. Ans. (a) Refer Properties 192. Ans. (a) Refer Properties 193. Ans. (b) Refer Properties 194. Given X ~ N ( , 2), where = 2 and 2 = 9 =3 We want x so that P(2 < < x) = 0.4115 (1) When X = 2, Z = x 2 2 = =0 3 When x = x, Z = x 2 = Z1 (Say) (2) 3 From (1), we get P (0 < Z < Z 1 ) = 0.4115 Z 1 = 1.35 (from Normal Table) Common Proficiency Test (CPT) Volume - II The Institute of Chartered Accountants of India 363 ANSWERS Substituting in (2), we get x 2 = 1.35 3 x = 2+3 (1.35) x = 6.05 Ans. (b) 195. Mean = First moment about origin = 35 (given) (1) Second moment about 35 = 10 (given) Second moment about mean = 10 2 = 0 (2) Since the given distribution is normal, 1 = 0 and 2 = 3 1 = 2 = 32 23 4 2 2 = 0 3 = 0 2 = 3 4 = 3 2 2 = 3 10 = 300 1=0 (always), 2 = 10, 3 = 0, 4 = 300 Ans. (c) 196. The most commonly used confidence limit is Ans. (c) 95% 95% 197. Sample mean is statistic Ans. (b) Statistic 198. Deliberate sampling is Non \random sampling Ans. (b) Non random sampling 199. Stratified random sampling issued for Non Homogeneous population. Ans. (b) Non homogeneous 200. Random Sampling is also called lottery sampling Ans. True 364 The Institute of Chartered Accountants of India Common Proficiency Test (CPT) Volume - II

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

Formatting page ...

 

  Print intermediate debugging step

Show debugging info


 


Tags : 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.  

© 2010 - 2025 ResPaper. Terms of ServiceContact Us Advertise with us

 

ca_cpt chat