CS Executive Corporate and Management Accounting PYQ December 2019: Question Paper and Available Answers
CS Executive
Corporate and Management Accounting
PYQS Series
December 2019
100 Questions Indexed
ICSI Examination Archive & Suggested Answers: This directory contains indexed questions from the paper for CS Executive Corporate and Management Accounting PYQS (December 2019). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.
Indexed questions
- Mines as asset is an example of :
- At the time of preparation of Balance Sheet, Capital Work-in-progress is shown in the head of:
- As per ICAI Guidance Note, at the end of the year, balance of Share Options Outstanding Account should be shown under the:
- Shiva Ltd. forfeited 4,500 equity shares of ₹10 each (which are issued on 40% pro-rata (basis) for non-payment of allotment @₹6 (including premium of ₹2.50) and first and final cal
- P Ltd. forfeited 5,000 equity shares of ₹10 each for non-payment of first and final call of ₹2.50 per share which were issued at a premium of ₹3 per share receivable at allotment.
- C Ltd. invited applications for the issue of 20 Lakh equity shares of ₹10 each payable ₹3 on application and ₹7 on allotment. Applications were received for 35 Lakh equity shares.
- Rule 17 of the Companies (Share Capital and Debenture) Rule, 2014, is related to:
- In case of buy-back of shares, passing of the special resolution is not required if:
- For the companies whose financial statements comply with the accounting standards as prescribed in Section 133 of the Companies Act, 2013, the premium payable on redemption of pref
- The Capital Redemption Reserve Account may be used by the company :
- A company offered 2,50,000 equity shares to public for subscription. 70% of public issue was underwritten by G. Her firm underwritten was for 40,000 shares. Public subscribed for 1
- The entry "Debentures Suspense A/c Dr., To Debentures A/c" can be passed/done:
- C Limited issued 8% Debentures of ₹65,00,000 at 5% discount which are redeemable at a premium of 10%. On recording the transaction "Loss on Issue of Debentures Account" will be:
- M Ltd. issued 8% Debentures of ₹60 Lakh on 1st January, 2019 at a discount of 10%. The debentures are redeemable in three equal instalments of ₹20 Lakh each payable on 31st Decembe
- S Ltd. had issued 80,000, 8% Debentures of ₹100 each redeemable on 31st December, 2019 at a premium of 20%. The company offered three options to debentureholders, out of which one
- G Ltd. has 8,00,000, 12% Debentures of ₹100 each. During the year 2018-2019 the company purchased its own debentures from the open market for immediate cancellation are as follows:
- The profit on cancellation of debentures should be transferred to:
- Every buy-back shall be completed within a period of ............ from the date of the resolution or special resolution, as the case may be, passed by the Board.
- Written down value of a machine as on 31st March 2019 is ₹6,65,558. Rate of depreciation on the basis of written down value method is 15%. What will be the cost of this machine pur
- In G Ltd., there is one whole-time director and three part-time directors. The maximum rate of remuneration payable to all directors will be :
- When the effective capital of a company is ₹100 crore and above but less than ₹250 crore, the maximum remuneration payable as per Part-II of Schedule V of the Companies Act, 2013,
- Every company having turnover of ............ during the immediately preceding financial year shall constitute a Corporate Social Responsibility Committee.
- Which of the following is not a type of segment as per AS-17?
- Equity holder of a company who does not have the voting control of the company, by virtue of his or her below fifty percent ownership of the company's equity capital, termed as:
- H Ltd. is a holding company of S Ltd. During the year 2018-19, Bills Receivable amounted to ₹4,00,000, out of total bills receivable of ₹5,00,000 received from S Ltd., were discoun
- On 1st April, 2019, H Ltd. purchased 16,00,000 equity shares out of 20,00,000 equity shares of S Ltd. Following information is provided as on 31st March, 2019, by S Ltd.: Equity Sh
- Holding of H Ltd. was 75% in S Ltd. Other information obtained from the books of S Ltd. were as under: 31st March, 2019 (₹ in Lakh) Share Capital 150, General Reserve 25, Surplus :
- The main purpose of the preparation of consolidate statements is:
- Company Auditor's Report Order, 2016, was issued by the:
- Company Auditor's Report Order (CARO), 2016 is not applicable to:
- As per Section 149(1) of the Companies Act, 2013, the paid-up share capital requirement for non-listed company, having at least one woman director is :
- As per the concept of value added statement, "Gross value Added" is:
- The term 'Calls in Arrears' is shown in the company's balance sheet:
- At the time of forfeiture of shares the share capital account will be :
- The loss/discount on re-issue of forfeited shares may be :
- When the forfeited shares were originally issued at premium, the maximum permissible discount on re-issue shall be :
- Z Ltd. issued 5,000 equity shares of ₹10 each at 10% premium which is payable on allotment. The company received application money @₹3 per share and allotment money received on onl
- The capital structure of KC Ltd. is : Equity Share Capital ₹250 lakh, Long-term Debt ₹110 lakh, Bank Overdraft ₹40 lakh. The average rate of return on similar types of companies is
- The difference between the Company's total market value and Capital invested is a :
- Pooja Ltd. had the investment of ₹68 lakh as on 31st March, 2018 and that of ₹81 lakh as on 31st March, 2019. During the year the company had sold 30% of its original investment at
- During the year 2018-19, a company redeemed its 10% debenture of ₹8,00,000 at 10% premium and after some time a fresh issue was made of new 10% debenture of ₹7,50,000 at a premium
- In the case of financial enterprises, cash flows arises from interest paid should be classified as cash flow from:
- Balance of Provision for Taxation as on 1-4-2018 and 31-3-2019 were ₹13,72,000 and ₹14,55,000 respectively. During the year ₹12,05,000 were paid towards income tax. The amount of p
- Plant Original Costing ₹1,35,500 (accumulated depreciation ₹72,800) was sold at a profit of ₹15,900 during the year 2018-19. The amount of cash flow from the transaction would be :
- Mithu Ltd. had the investment as on 31-3-18 and 31-3-19 were ₹10,95,000 and ₹10,82,000 respectively. During the year interest on investment received ₹77,000 which was used in writi
- Following information were provided by a trading company to you: Net profit after tax for the year 2018-19 ₹18,35,000. During the year 2018-19: Depreciation written off ₹1,08,000,
- The Accounting Standards Board was constituted by the Institute of Chartered Accountants of India in the year:
- Which of following Section of Companies Act, 2013, is required that the auditor has to report whether in his opinion the financial statements comply with the Accounting Standards r
- Which of the following is not included in the conditions satisfied by the small and medium companies (SMCS) with reference to applicability of Accounting Standards?
- Which of the following International Accounting Standard (IAS) is related to 'Earning per share'?
- Which of the following institute formerly was established as a registered company under the Companies Act ?
- The Institute of Chartered Accounts of India is the...... professional body of Chartered Accountants in the world.
- "The Association of International Certified Professional Accountants" launched by the:
- Mandatory applicability of Ind AS to all Banks, NBFCS (Non-Banking Finance Companies), and Insurance Companies is from:
- Which of the following Ind AS is related to Consolidated Financial Statements?
- A simplified financial statement that shows how much wealth has been created by a company is called ............
- The following is not an advantage of Double entry system:
- As per Companies Act, 2013, the prescribed form of Balance Sheet of a Company is given in:
- The Corporate Social Responsibility Committee shall consist of...........directors, out of which at least ............ director(s) shall be independent director(s).
- Financial Reporting Council is an organisation of which country?
- Companies (Cost Records and Audit) Rules, 2014, came into force on :
- Which of the following Form is used for filing Cost Audit Report with the Central Government?
- Which of the following steps are required for Budgetary Control ?
- A factor which will limit the activities of an undertaking and which is taken into account in preparing budgets, is termed as :
- Which of the following is/are purpose(s) of "Time Recording"?
- If the Capacity Ratio and Efficiency Ratio of a factory are 95% and 125% respectively, then Activity Ratio will be :
- Following information estimated for the year 2020-21: Normal loss in production will be 5% of input. Sales (in units) as per Sales Budget 38,350 units. Closing stock will be 6600 u
- Puvi Ltd. provides the following information for the quarter ending 31 st March, 2020: Expected Sales : January, 2020 ₹ 25 lakh February, 2020 ₹ 28 lakh March, 2020 ₹ 30 lakh Rough
- ............ is a method of budgeting whereby all activities are re-evaluated each time a budget is set. Discrete levels of each activity are valued and a combination is chosen to
- N Ltd. has Net working capital of ₹119 Lakh, Total Liabilities ₹225 Lakh and Non-current liabilities are ₹140 Lakh. The Current Ratio will be :
- A company's purchases are ₹385 Lakh, Sales ₹510 Lakh and closing stock ₹58 Lakh. If the rate of gross profit is 25% on cost, then Stock Turnover Ratio will be:
- Mahi Ltd. has closing stock ₹648 Lakh and prepaid expenses ₹32 Lakh. Total liquid assets were ₹1,830 Lakh. If the liquid ratio is 1.5: 1, then working capital will be:
- Which of the following is not included in the activity ratios?
- The ideal norm preferred by Banks for current ratio is:
- Which of the following set of report is classified according to their contents ?
- Which of the following is not a step taken towards implementing an effective management reporting programme ?
- A low margin of safety usually indicates :
- Which of the following is not a method of transfer pricing considered in normal course ?
- Following data provided by M Ltd. : First Six Months (₹) Last Six Months (₹) Profit 10,00,000 14,00,000 Cost of Sales 70,00,000 76,00,000 Fixed cost for the year will be :
- Which of the following are examples of key factors ? (1) Sales value/quantity (2) Raw material quantity (3) Raw material quality (4) Labour hours availability (5) Plant capacity (6
- Match the following List-I with List-II : List-I (P) Profit earned (Q) Classification of costs into fixed and variable costs (R) Both fixed and variable costs are charged to produc
- Information provided by S Ltd. are given below : Fixed Cost ₹ 24 lakh Profit ₹ 12 lakh Break-even point ₹ 60 lakh When sales are ₹120 Lakh, then calculate the profit :
- In an Activity Based Costing System, the allocation basis that are used for applying costs to services or procedures are called :
- Inspection of products is an example of :
- Which of the following is not a valuation approach ?
- A deposit to be made on 1 st January, 2020, into bank that will earn an interest of 7% compound annually. It is desired to withdraw ₹60,000 on 31 st December, 2023 and ₹1,00,000, o
- Cost of Sales - Selling and Distribution Overhead + Closing Stock of Finished Goods - Opening Stock of Finished Goods = ............
- Following information provided by B Ltd. : Last Earning Per Share (EPS) of the company = ₹75 per share Company's dividend pay-out ratio = 40% Required rate of return from equity in
- P Ltd. has 12% Debentures of ₹40 Lakh and 13% Debentures of ₹60 Lakh. If the corporate tax rate is 30%, then combined cost of debt after tax will be :
- Which of the following Ind AS deals with "Financial Instruments : Presentation"?
- Following information is provided by A Ltd. : in lakh 2,00,000, 8% Preference Shares of 100 each fully paid-up 200 60,00,000 Equity Shares of 10 each fully paid-up 600 Reserves and
- Which of the following is not a method used for valuation of shares ?
- Which of the following method of valuation of shares is/are suitable for ascertaining the market value of shares which are quoted on a recognized stock exchange ?
- Average profit, Superprofit and Capital employed of a firm are ₹15,60,000; ₹4,80,000; and ₹90,00,000 respectively. Normal rate of return is 12%. The value of goodwill on the basis
- As per Section 247 of the Companies Act, 2013, the Registered Valuer shall be appointed by the :
- The risk free rate is 8%, return on a broad market index is 15%. The actual return provided by the security is 18%. What must be its beta, by using CAPM if the security is correctl
- The relationship between risk and return established by the security market line is called:
- Following are the details of Beta Limited: in lakh Equity Share Capital (Shares of ₹10) 1500 8% Preference Share Capital 400 12% Debentures 250 Profit before interest and tax 590 D
- Match the following—I with II : I (a) Direct Cost (b) Indirect Cost II (i) Raw material (ii) Showroom expenses (iii) Drawing Office Expenses (iv) Carriage inwards (v) Carriage outw
- According to Behavioural Analysis, the overheads may be classified as:
How to Prepare for CS Executive Corporate and Management Accounting
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