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

38 pages, 199 questions, 0 questions with responses, 0 total responses,

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BOARD OF STUDIES THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA COMMON PROFICIENCY TEST Model Test Paper BOS/CPT 2 Time : 4 hours Maximum Marks : 200 The test is divided into four sections. Questions 1 to 200 have only one correct answer and carry + 1 mark for each correct answer and 0.25 mark for each wrong answer. SECTION A : FUNDAMENTALS OF ACCOUNTING (60 MARKS) 1. Present liability of uncertain amount, which can be measured reliably by using a substantial degree of estimation is termed as (a) (c) 2. Liability Reserve There are many views about accounting principles Accounting is based on accounting equation Accounting is commonly treated as language of business None of the above For charging depreciation, on which of the following assets, the depletion method is adopted? (a) (c) 4. (b) (d) Which one of the following statement is FALSE : (a) (b) (c) (d) 3. Contingent liability Provision Wasting Assets (Mines) Goodwill (b) (d) Land All of the above Cost of Machinery Rs. 75,000, salvage value Nil, estimated life 4 years. Depreciation for the first year by sum of digit method is a) c) Rs. 30,000 Rs. 12,000 Common Proficiency Test (CPT) Volume - II The Institute of Chartered Accountants of India b) d) Rs. 15,000 Rs. 7,500. 29

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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.

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