cpt exam june-2010 answer,,,,,,,,,

Hello,

 please any help to solve following qusation

1) Calculate closing stock if --

       opening stock = 60,000

       Purchesed = 90,000

       sales = 1,20,000

      Gross profit on cost =  33 1/3  %

      cost of goods lost in Rs- 15,000  Insurance Claim Received Rs- 5,000

  A)  40,000

  B) 45,000

 C) 55,000

 D) 60,000

 ( Please post here how calculate closing stock for above qusation )

2) If the market value of closing invetory is less then its cost price, inventory will be shown at -------

   A) Market price

   B) Net reasonble price

   C) Book value

   D) None of these

3)  If a Partnership exceed the minimum number of persons that  called------

    A) Illegal

    B) Legal

    C) Unlawful

    D) Company

4) Fixed asset are double the current asset and half the capital. the current assets are Rs-3,00,000 and investments are Rs-4,00,000 then the current liabilities recorded in balance sheet  will be ?

     A) 2,00000

    B) 1,00000

   C) 3,00,000

   D) 4,00,000