CS Executive Company Accounts & Auditing Practices PYQ December 2016: Question Paper and Available Answers
CS Executive
Company Accounts & Auditing Practices
PYQS Series
December 2016
30 Questions Indexed
ICSI Examination Archive & Suggested Answers: This directory contains indexed questions from the paper for CS Executive Company Accounts & Auditing Practices PYQS (December 2016). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.
Indexed questions
- Enumerate disclosure requirements in the financial statements in respect of impairment of assets.
- On 1 st January, 2016, Tulip Ltd. offered 100 shares of ₹10 each to each of its 500 employees at ₹30 per share. The employees were given time up to 31 st March, 2016 to accept the
- State the conditions to be fulfilled for issue of bonus shares by a company.
- Mars Ltd. obtained an overdraft of ₹5,00,000 on 31 st March, 2016 from a bank by issuing and securing 6,000, 12% debentures of ₹100 each as collateral security. Show necessary jour
- From the following information in respect of Sun Ltd., prepare value added statement and its distribution for the period ended 31 st March, 2016: (in lakh) Gross sales 1,250 Discou
- Jupiter Ltd. issued 10,000 equity shares at ₹20 per share for cash and 20,000 equity shares to suppliers of plant costing ₹4,50,000. Assuming face value of shares at ₹10 each, show
- Josh Ltd. issued 2,000, 10% debentures of ₹100 each at a discount of 10%. These debentures are redeemable at a premium of 10% after 8 years. You are required to Show journal entrie
- Josh Ltd. issued 2,000, 10% debentures of ₹100 each at a discount of 10%. These debentures are redeemable at a premium of 10% after 8 years. You are required to Compute the loss on
- What is meant by 'B-List Contributories'? State their liability in the case of winding-up of a company.
- Distinguish between 'equity shares' and 'preference shares'.
- Compute the amount of goodwill based on 3 years' purchase of super profit from the following: Future maintainable profit after tax : ₹15,00,000 Normal pre-tax rate of return : 20%
- Beta Ltd. has following balances as on 1 st April, 2015: ₹ 15% Debentures 8,00,000 Sinking fund (represented by 10% bonds, face value: ₹7,20,000) 6,00,000 Bank balance 3,28,000 Oth
- Orchid Ltd. holds 80% shares in its subsidiary Tulip Ltd. From the following information calculate minority interest at the end of each year: Share capital of Tulip Ltd. was ₹10,00
- Lily Ltd., having sufficient balance to the credit of general reserve and ₹1,00,000 balance in securities premium account, decides to : Redeem 5,000, 10% redeemable preference shar
- Metal Ltd. issued 1,25,000 shares of ₹10 each to public. The issue was underwritten by Gold, Silver, Bronze and Copper as under: Gold 30%, Silver 25%, Bronze 25% and Copper 20%. Th
- Following are the details of various balances relating to Strong Ltd. which went into liquidation on 31 st March, 2016: Liquidator realised ₹5,25,000 from sale of assets and paid-o
- Corporate restructuring is carried out to make a company more effective. Discuss.
- Tanu Ltd. and Manu Ltd. carrying on business of similar nature agreed to amalgamate. A new company TM Ltd. is to be formed to which assets and liabilities of the existing companies
- Tanu Ltd. and Manu Ltd. carrying on business of similar nature agreed to amalgamate. A new company TM Ltd. is to be formed to which assets and liabilities of the existing companies
- From the following details related to Best Ltd., compute the value of each equity share on the basis of productivity: Year ended 31 st March Average net worth (₹) Adjusted taxed pr
- "Audit is advantageous even to those enterprises and organisations where it is not compulsory." Discuss.
- As an auditor of a company, how will you instruct and guide your assistants about special considerations to be borne in mind in the course of vouching ?
- Directors of Secure Ltd. are of the opinion that section 138 of the Companies Act, 2013 regarding appointment of internal auditor is not applicable to them. State the provisions of
- You are the auditor of a company covered under the Companies (Auditor's Report) Order, 2015. Describe the matters you will cover in your report in respect of Inventory.
- You are the auditor of a company covered under the Companies (Auditor's Report) Order, 2015. Describe the matters you will cover in your report in respect of Maintenance of cost re
- What do you mean by 'materiality' in auditing? As an auditor of a company, how will you comply with materiality concept in auditing ?
- An auditor is required to maintain audit working papers in shape of permanent audit file and current audit file. List out any ten documents finding place in the current audit file.
- Distinguish between 'internal check' and 'internal audit'.
- List out five factors that influence the reliability of audit evidence as per SA 500.
- An auditor appointed under the Companies Act, 2013 shall provide only such other services as are approved by the Board of directors or audit committee but shall not include some se
How to Prepare for CS Executive Company Accounts & Auditing Practices
Use past questions to practise the paper format and review available answers. Check the current syllabus, applicable law and examination duration before attempting a timed paper.