CS Executive Company Accounts & Auditing Practices PYQ June 2021: Question Paper and Available Answers
CS Executive
Company Accounts & Auditing Practices
PYQS Series
June 2021
37 Questions Indexed
ICSI Examination Archive & Suggested Answers: This directory contains indexed questions from the paper for CS Executive Company Accounts & Auditing Practices PYQS (June 2021). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.
Indexed questions
- What are the minimum disclosure of notes and explanatory statements should be required as per AS-25 "Interim Financial Reporting"?
- State the conditions for payment of underwriting commission as per the Companies (Prospectus and Allotment of Securities) Rule, 2014.
- Classify the following into either operating or finance lease: Lessee has option to purchase the asset at lower than the fair value at the end of the lease term.
- Classify the following into either operating or finance lease: Lease income is being recognized in the statement of Profit and Loss Account by the lessor.
- Classify the following into either operating or finance lease: Economic life of the asset is 7 years, lease term is 6 years, but asset is not acquired at the end of the lease term.
- Classify the following into either operating or finance lease: The lessor presents the asset in its balance sheet under fixed asset.
- Classify the following into either operating or finance lease: Economic life of the asset is 6 years, but the asset is of special nature and has been procured only for use of the l
- The following particulars are available in relation to A Ltd. : (i) Equity Share Capital - 8,000 equity shares of ₹100 each fully paid. (ii) 2,000, 8% Preference Shares of ₹100 eac
- R Ltd. was incorporated with an authorised capital of ₹4,00,00,000 consisting of 20,00,000 equity shares of ₹10 each and 2,00,000, 8% preference shares of ₹100 each. Other details
- Give two examples on each of the following items: Change in accounting estimate.
- Give two examples on each of the following items: Extra-ordinary items.
- Give two examples on each of the following items: Prior period items.
- Z Ltd. provides you the following information: Equity Share Capital ₹200 lakh; 8% Secured Loan ₹40 lakh; 10% Unsecured Loan ₹60 lakh; Total Capital Employed ₹300 lakh; Profit After
- A company went into liquidation whose creditors are ₹36,000 which includes ₹6,000 on account of wages of 15 men at ₹100 per month for 4 months immediately before the date of windin
- State how you will treat the following transaction while preparing the final accounts of a company for the year ending 31st March, 2020. Subsidy ₹2,50,000 received from Government
- State how you will treat the following transaction while preparing the final accounts of a company for the year ending 31st March, 2020. The market value of the quoted investment i
- State how you will treat the following transaction while preparing the final accounts of a company for the year ending 31st March, 2020. While preparing the accounts of the previou
- The following items were extracted from the Balance Sheet of Z Ltd. as on 01.04.2019: Particulars: Equity share capital fully paid up ₹12,00,000; 12% preference share capital ₹5,00
- RG Ltd. had an authorised equity capital of ₹20 lakh divided into shares of ₹100 each. The paid-up capital was ₹12,50,000. Besides this, the company had 9% Redeemable Cumulative Pr
- Discuss the circumstances under which evaluation of Goodwill of a Joint Stock Company is necessary.
- Mohan Ltd. went into voluntary Liquidation on 31st December, 2018 when the following Balance Sheet was prepared: Particulars Amount (₹) I. EQUITY AND LIABILITIES (1) Shareholders'
- D Ltd. furnished the following summarised Balance Sheet as at 31st March, 2020: Particulars Amount (₹'000) I. EQUITY AND LIABILITIES (1) Shareholders' Funds : (a) Share Capital: Au
- Sai Deep Industries Private Ltd. was incorporated on 1st February, 2019. It took over the proprietary business of Sai Deep, with effect from 1st January, 2019. The Balance Sheet of
- Sai Deep Industries Private Ltd. was incorporated on 1st February, 2019. It took over the proprietary business of Sai Deep, with effect from 1st January, 2019. The Balance Sheet of
- Sai Deep Industries Private Ltd. was incorporated on 1st February, 2019. It took over the proprietary business of Sai Deep, with effect from 1st January, 2019. The Balance Sheet of
- Due to inadequacy of profit during the year ended 31st March, 2020, Z Ltd proposes to declare 10% dividend out of general reserve. From the following particulars, ascertain the amo
- On 31st March, 2019 A Ltd. was acquired by X Ltd., which paid ₹14,00,000 in all ₹12,00,000 in fully paid ₹10 shares and the balance in cash. There was a contingent liability in res
- The Balance Sheet of H Ltd. and S Ltd. as on 31.03.2020 were as follows: Particulars Note No. H Ltd. (₹) S Ltd. (₹) I. EQUITY AND LIABILITIES (1) Shareholders' Funds (a) Share Capi
- What do you mean by 'Efficiency Audit'? State the objective of efficiency audit.
- What is Inter-Firm Comparison? Explain the main advantage of Inter-Firm Comparison.
- What are the points to be considered while carrying out the internal control review of working environment, safety and security?
- "An auditor appointed Under Rule 3 of the Companies (Audit and Auditors) Rules, 2014 is required to submit a Certificate and notice to the Registrar of Companies." State the matter
- What are the important points to be considered while reviewing the internal control in the area of sales return?
- "Test checking is a system of sampling employed by the auditor for the purpose of reducing the volume of detail checking involved in the audit." In view of the above statement expl
- What are the Powers or Rights of Auditors prescribed under Section 143(1) of Companies Act 2013?
- What are the objectives of review of "Employee Relation" and draw an internal control questionnaire on it?
- Write briefly about 'communications with those charged with governance'-(SA-260).
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.