Cpt 2011 June Session 1 with Key
No.1 for CA/CWA & MEC/CEC
MASTER MINDS
Disclaimer: Questions asked in the examination may have wrong/inadequate information and/or ambiguous language. In that case the answers provided by the institute may differ from these ideal answers. Every effort has been made taken to give best answers. Still if you find some errors please bring them to our notice through e-mail. Mail id: gunturmasterminds@yahoo.com
1 ___________________________________________1 noisseS_1102_enuJ_ TPC
CPT – June 2011 Question Paper (Based on Memory) 1st session Marks: 100 Marks
Part A – Fundamentals of Accounting
1. Which method of depreciation is approved as per the income tax rules? a) Sinking fund method b) Written Down Value Method c) Annuity Method d) None of the above 2. Capital A/c is a _______ A/c. a) Personal b) Real c) Nominal d) None 3. Cash A/c is a ________ A/c. a) Personal b) Real c) Nominal d) None 4. Which is not only a subsidiary book, but also a principal book? a) Cash book b) Sales book c) Purchase book d) Bills receivable book 5. The principle “Debit the receiver and credit the giver” is related to_____ a) Personal a/c b) Real a/c c) Nominal a/c d) None 6. If shares are forfeited, Share Capital a/c is debited with ________ a) Called up face value b) Face value c) Paid up face value d) none of these 7. Wages paid for erection of machinery is debited to _____ a) Machinery A/c b) Wages A/c c) Cash A/c d) None of these 8. Share Premium A/c appears in the Balance Sheet under the heading. a) Current liabilities b) Reserves & Surplus c) Miscellaneous expenditure d) None of the above 9. The goods or cash taken by the proprietor for his personal use will be debited to _____ a) Expenditure a/c b) Debtors a/c c) Drawings a/c d) None of these 10. Interest on drawings is a ___ to the business a) Expenditure b) Gain c) Liability d) Loss 11. If a contingent liability becomes probable, it has to be: a) Shown in notes on accounts b) Provided in the books of accounts c)
MASTER MINDS
Disclaimer: Questions asked in the examination may have wrong/inadequate information and/or ambiguous language. In that case the answers provided by the institute may differ from these ideal answers. Every effort has been made taken to give best answers. Still if you find some errors please bring them to our notice through e-mail. Mail id: gunturmasterminds@yahoo.com
1 ___________________________________________1 noisseS_1102_enuJ_ TPC
CPT – June 2011 Question Paper (Based on Memory) 1st session Marks: 100 Marks
Part A – Fundamentals of Accounting
1. Which method of depreciation is approved as per the income tax rules? a) Sinking fund method b) Written Down Value Method c) Annuity Method d) None of the above 2. Capital A/c is a _______ A/c. a) Personal b) Real c) Nominal d) None 3. Cash A/c is a ________ A/c. a) Personal b) Real c) Nominal d) None 4. Which is not only a subsidiary book, but also a principal book? a) Cash book b) Sales book c) Purchase book d) Bills receivable book 5. The principle “Debit the receiver and credit the giver” is related to_____ a) Personal a/c b) Real a/c c) Nominal a/c d) None 6. If shares are forfeited, Share Capital a/c is debited with ________ a) Called up face value b) Face value c) Paid up face value d) none of these 7. Wages paid for erection of machinery is debited to _____ a) Machinery A/c b) Wages A/c c) Cash A/c d) None of these 8. Share Premium A/c appears in the Balance Sheet under the heading. a) Current liabilities b) Reserves & Surplus c) Miscellaneous expenditure d) None of the above 9. The goods or cash taken by the proprietor for his personal use will be debited to _____ a) Expenditure a/c b) Debtors a/c c) Drawings a/c d) None of these 10. Interest on drawings is a ___ to the business a) Expenditure b) Gain c) Liability d) Loss 11. If a contingent liability becomes probable, it has to be: a) Shown in notes on accounts b) Provided in the books of accounts c)