Dear friends ,
kindly ,Download CPT Exam paper of chapter 1st for Accounts(2006-2012 june) compiled by me.
Chapter:1- Meaning and Scope of Accounting
1.The main objectives of Book Keeping are:(CPT-2006 NOV)
a) Ascertainment of Financial effect on business
b) Complete record of transaction
c) Analysis and interpretation of data
d) Both a & b
2. After sale of goods worth Rs.2,00,000 there was closing stock of Rs.10,000 at the end of financial year.This is:(CPT-2006 NOV)
a) Event b) Transaction
c) Both a&b d) None
3. Financial statements are part of:(CPT-2007 FEB)
a).Book-keeping b) Accounting
c) Both a & b d)None
4.____________ of American Institute of Certified Public Accountants enumerated functions of Accounting: :(CPT-2007 FEB)
a) Accounting Principles Board b) Accounting Standards Board
c)Accounting policies Board d) Accounting Principals Board
5.Which of the following is not a Real Account? :(CPT-2011 DEC)
a) Cash A/c b) Investments A/c
c) Out standing rent A/c d) Purchases A/c
6.Management Accounting is:(CPT-2007 MAY)
a)Analysis of past business activities b) a Clerical work
c) Accounting for future d)Recording of management related transactions
7.The direct Advantage of Accounting excludes: (CPT-2007 AUG)
a) competitive advantage b)preparation of financial statements c)Ascertaining Profit or Loss d) communication of information to interested parties
8.Double Entry Accounting System owe its origin to:(CPT-2007 NOV)
a)Locus Pacilio b)Adam Smith
c) Pascal d)karl marx
9.On 31st December 2007,Ashok.ltd purachased machine from Mohan Ltd.for Rs.1750,000 year ended on 31st dec.This is: (CPT-2007 NOV)
a)An Event b)Transaction
c)Both a&b d)None
10.The problems related to price rise are handled under: (CPT-2007 FEB)
a)inflation A/C b)Cost A/C
c)Financial A/C d)Management A/C
11.Financial statement user includes: (CPT-2008 JUNE)
a)Government b)Vendors
c)shareholder d)All of the above
12.Which of these is not available in Financial Statements of a company: (CPT-2008 JUNE)
a)Total sales b)Total Profit & Loss
c)Capital d)Cost of Production
13.Rs.5,000 paid as rent of office premises is an: (CPT-2009 JUNE)
a)Event b)Transaction
c)Both d)None
14.Which of these is correct?Owners Equity equals to: (CPT-2009 JUNE)
a)(Current Assets + Fixed assets)+(Current liabilities + Long term liabilities)
b) (Current Assets + Fixed assets)-(Current liabilities + Long term liabilities)
c) (Current Assets-Fixed assets)-(Current liabilities +Long term liabilities) d)None of the above
15.If owners Capital is Rs.50,000,Liability is Rs.30,000 and Fixed Assets is Rs.70,000.Then what is the value of current Assets? : (CPT-2009 JUNE)
a)Rs.10,000 b)Rs.40,000
c)Rs.80,000 d)Rs.1,00,000
16.Profit / Loss is calculated at the stage of : (CPT-2012 JUNE)
a) Recording b) Classifying
c) Interpretation d) Summarising
17. Which of the following is not the main objective of accounting? (CPT-2012 JUNE)
a) Systematic recording of transactions
b) Ascertainment of profit or loss
c) Ascertainment of a financial position
d) Solving tax disputes with tax authorities
18. A trader calculated his profit at Rs. 38,750 on 31-03-2012. It is (CPT-2012 JUNE)
a) A transaction b) An event
c) Transaction as well as event
d) Neither transaction nor event
19. Which of the following is not a Nominal A/c? (CPT-2012 JUNE)
a) Outstanding salaries A/c b) Salaries A/c
c) Interest paid A/c d) Commission received A/c
20. For every debit there will be an equal credit according to which concept?(CPT-2012 JUNE)
a) Matching b) Cost
c) Money Measurement d) Dual aspect
21. Working capital is equal to: (CPT-2011 DEC)
a) Current assets – current liabilities b) Fixed assets – fixed liabilities
c) Fixed assets - current liabilities d) Current assets – fixed liabilities
Please Look below for answers…
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Answers 1.d 2.a 3.b 4.a 5.c 6.d 7.a 8.a 9.c 10.a 11.d 12.d 13.b 14.b 15.a 16.d 17.d 18.b 19.a 20.d 21.a
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