08.08.2019-327 views -Florida Cpt 2012
Downloaded via http://www.cacracker.com, check out http://CAcracker.com for more.. CA - CPT – December 2012 Question Daily news (Based about Memory)
1st session Signifies: 100 Signifies Time: two hrs.
Part A – Fundamentals of Accounting
1 ) When delcredere commission is usually allowed simply by consignor to consignee, then simply amount of abnormal damage will be borne by: a) Consignor b) consignee c) Both consignor and consignee in the same proportion d) Either consignor or consignee 2 . The Rule " Debit almost all expenses and losses, credit all Incomes and gains” is relates to: a) Personal a/c b) real airconditioning c) Nominal a/c d) all the above 3. A and B will be partners sharing profits and losses inside the ratio of 5: several, C was admitted because new partner and getting capital Rs. 70, 000 and goodwill Rs. twenty four, 000. The modern profit ratio between A: B: C is six: 5: four. The compromising ratio of A and B is: b) 3: you c) five: 4 d) 3: five a) 1: 3 four. Estimated useful life of the machine is definitely 5 years. Depreciation is written away in 2nd year underneath sum with the years numbers method: c) 2/15 d) 1/15 a) 4/15 b) 3/15 your five. How many no . of grace times allowed, when ever bill for sight is: a) several days b) 2 days and nights c) 1 day d) not any days six. Which statement is directed by retenue to consignor: a) proforma invoice b) account product sales c) Back to the inside invoice d) outward invoice 7. Returns inward is deducted kind a) Product sales b) Acquisitions c) Results outwards d) Closing stock 8. Krishna Ltd. Released 1, 55, 000 stocks and shares of Rs. 100 every, at discount of 10% Mr. Memory to whom 300 shares had been allotted, failed to pay the final call of Rs. 30 per share and hence most his shares were given up. At the time of forfeiture, what amount will be used in share injury account. a) Rs. on the lookout for, 000 b) Rs. 18, 000 c) Rs. twenty one, 000 d) Rs. twenty-seven, 000 being unfaithful. A company forfeited 1000 stocks of Rs. 10 every, on which Rs. 6, 000 have been received. The forfeited shares had been reissued pertaining to Rs. several, 000 because full account. How much quantity is utilized in capital arrange account. a) Rs. a thousand b) Rs. 3, 500 c) Rs. 4, 1000 d) Rs. 6, 1000 10. A and W sharing
C and G are sharing in the rate of 3: 2 . Find the ratio of A: B: C: M a) installment payments on your 5: 2 . 5: three or more: 2 b) 5: 5: 3: two c) four: 3: several: 2 d) 5: 3: 2: a few 11. Complementing concept means: a) Assets = financial obligations + capital. b) Ventures are recorded at accrual concept. c) Anticipate simply no profit although recognize almost all losses d) Expenses must be matched while using revenue from the period. 12. Discount upon reissue of forfeited stocks cannot exceed: a) fifty percent of confront value b) Face worth of stocks c) 50% of amount forfeited d) Amount given up 13. When the bill can be endorsed, which account must be credited? a) Bills receivable a/c b) Endorsee airconditioning c) Endorser a/c d) None of such 14. The moment equity stocks are released to marketers for the skills rendered by them ______ a/c is usually debited. a) Capital hold b) Promoters a/c c) Equity discuss capital d) Good will a/c 12-15. According to companies Take action 1956, Affinity for calls- in -arrears and calls- in –Advance, the maximum rate is definitely a) 4% p. a and five per cent p. a b) five per cent p. a and 4% p. a c) 6% p. a and 5% p. a d) five per cent p. a and 6% p. a
2 rd. of revenue of the company and three or more
Downloaded from http://www.cacracker.com FLORIDA - CPT _December_2012 Problem Paper_Session 1_________________________ 2
Downloaded from http://www.cacracker.com, visit http://CAcracker.com for more.. 16. Final accounts of a organization are prepared in respect to _____ of the provider's act 1956. a) Securities and exchange commission's iv b) Sec versus c) Securities and exchange commission's vi d) Sec vii 17. Which type of mistake occurs, once credit deal is wrongly entered in purchases book. a) Error of percentage b) Mistake of omission c) Compensating error d) Error of principle 18. On thirty first March, Ranis final a/c's condition subsequent information cost of goods sold Rs. 35, 000, final stock Rs. 8, 500 opening stock Rs. 15, 000, order returns Rs. 5, 000. Calculate expense of goods purchased were: a) Rs. 33, 000 b) Rs. twenty-eight, 000 c) Rs. 37, 000 d) Rs. thirty seven, 000 19. On thirty-one. 3. 2011, the catalogs of Ajit shows a net revenue of Rs. 84, 500, later in it is discovered that the concluding stock was overvalued by Rs. some, 000 as well as the discount received...