CS Executive Corporate and Management Accounting PYQ December 2020: Question Paper and Available Answers

CS Executive Corporate and Management Accounting PYQS Series December 2020 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 2020). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.

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Indexed questions

Current Assets are those assets :
The figures appearing in the Financial Statements may be rounded off to the nearest crore, only if Turnover is ............
Which of the following is correct?
Financial statements are used by :
The Escrow account under Regulation 9(xi) of SEBI (Buy back of securities) Regulations, 2018 does not include :
Every Company having Net Worth of ₹ ............ shall constitute a corporate social responsibility committee of the Board.
On 30th June, 2018, two-third of the shares of S Ltd. (with total capital of ₹48,00,000) was acquired by H Ltd. The balance sheet of S Ltd. showed a debit balance ₹24,00,000 on 1st
CARO 2016 is applicable to :
On 31st March, 2019, X Ltd. has 8% fixed Deposit (Date of FD 1 st March, 2019, maturing on 31 st May, 2019) of ₹3,00,000. Interest is received on monthly basis. While preparing Cas
Which of the following is a Small and Medium Sized Company (SMC) as per the Companies (Accounting standards) Rules, 2006:
"Satyam Vada, Dharam Chara" is :
Under Ind AS 1, presentation of any items of income or expense as extraordinary item is:
A person who owes money to the business is a ............
A Company shall disclose by way of notes, additional information regarding aggregate expenditure and income on any item of income or expenditure which exceeds :
If the Articles of Association are silent regarding interest on calls-in-arrears, the minimum rate of interest which can be charged on calls-in-arrears is :
Which of the following is not a method of redemption of debentures ?
Every company required to create/maintain Debenture Redumption Reserve shall before the 30 th day of April of each year, deposit or invest (as the case may be) at least ...........
Every non-listed public company must have at least one woman director, if it has:
The areas of corporate governance included in Companies Act, 2013 are:
Which of the following is not a cash flow for a company ?
AS 3 and AS 17 are not applicable in their entirety to:
IASB stands for :
The structure of IFRS Foundation consists of:
Ind AS 20 requires government grants of the nature of promoters contribution :
Provision is :
A balance sheet has two parts to it, i.e. I. Equity and Liabilities and II. ............
The maximum amount of capital a company can issue is called ............
Neel Ltd. purchased a building worth ₹99,00,000 and issued 12% Debentures of ₹100 each at a premium of 10%. What will be the amount of premium ?
The Chief Accountant of TT Ltd. gives the following data regarding its six segments: Particulars M N O P Q R Total Segment Assets 9 9 55 9 9 9 100 Segment Results -19 -162 18 10 -1
Market Value Added is :
What is the full form of CARO ?
Cash payments to and on behalf of employees is an example of ............
AS 18 and AS 24 are not applicable in their entirety to:
AS-7 issued by ICAI deals with ............
The Advisory Council is the formal advisory body to the :
Ind AS 11 requires contract revenue to be measured at ............
Share Options Outstanding Account will be shown in the Balance Sheet of a company under the heading
Forfeited shares can be re-issued at ............
Saket Ltd. purchased a machinery worth ₹1,20,000 and building worth ₹2,00,000 from Rashmi Ltd. for an agreed purchase consideration of ₹3,00,000 to be satisfied by the issue of 3,0
Ind AS 34 requires the following in the contents of an interim financial report in addition to what was required under previous standard AS 25:
Shareholder Value Added (SVA) is :
In case of a financial enterprise, Interest received on Debentures held as Investment is ............
GAAP stands for :
............ are set of accounting standards notified by the Ministry of Corporate Affairs which are converged with International Financial Reporting Standards.
Public Interest Committee (PIC) established by IPSASB consists of individuals from the:
No issue of bonus shares shall be made by a company out of:
The Association of International Certified Professional Accountants launched in 2017, bringing together the expertise and capabilities of the:
Preliminary expense is a ............ asset.
Ind AS 113 deals with:
The words 'To Balance b/f' or 'By Balance b/f' are recorded in the 'Particulars Column' at the time of posting of:
Five years ago X Ltd. had issued 12% Debentures of ₹30 lakh (redeemable in six equal annual Installments). These Debentures will be shown in the Balance Sheet of a company under th
The Institute of Chartered Accountants in Australia and the New Zealand Institute of Chartered Accountants amalgamated to become one body:
Loans from banks repayable on demand will be classified in the Balance Sheet of a company as :
X Ltd. has 5,000 AC in stock on 31st March, 2019. The cost of each AC amount to ₹10,000. There is firm commitment of sale of 1,000 AC by the company in April, 2019 @ ₹15,000 per AC
............ prescribes the basis for presentation of general purpose financial statement to ensure comparability both with the entity's financial statements of previous periods an
In the Balance Sheet of a company which item shall be sub-classified as: (i) Secured, considered good; (ii) Unsecured, considered good; (iii) Doubtful.
External Reporting Board (XRB) belongs to:
The total capital of subsidiary company is ₹3,00,000 and out of this, ₹2,40,000 is owned by holding company. What is the amount of minority interest, if % of outside shareholder is
Profit on revaluation of assets to be shown as ............ in the consolidated Balance Sheet.
The Board of Directors of the Company, who has to form a Corporate Social Responsibility Committee, shall make sure that the company spends in every financial year, minimum .......
Which of the following is the social purpose of Cost Audit ?
Following is not an advantage of effective Management reporting system:
A company has Profit/Volume (P/V) Ratio 40 percent. By what percentage must variable cost be decreased to offset 25% reduction in selling price, so as to maintain the same P/V Rati
MOON Ltd. is developing a new production process. During the financial year ended 31st March, 2018, the total expenditure incurred on the process was ₹60 lakh. The production proce
Risk-Free Rate of Interest on Govt. Treasury Bonds 5.5%, Average Return on Market Portfolio 18%. Beta is 1.8. Security is said to be overpriced, if actual return is :
Production 11,000 units @ ₹11.50 per unit, Closing Stock of finished Goods 3,000 units. Opening Stock 2,000 units @ ₹14 per unit, Selling and Distribution Expenses 20% of Cost of S
Which section of the Companies Act, 2013 deals with audit of cost accounting records ?
Sales Management is more concerned with:
XYZ Ltd. manufactures three products X, Y and Z. The Sales Value Mix Ratio of these products are 20%, 30% and 50% respectively. The corresponding Variable Cost to Sales Ratio is 50
Risk-Free Rate of Interest on Govt. Treasury Bonds 5%, Average Return on Market Portfolio 17.5%. What must be the beta, if the security is correctly priced with actual return of 25
Cost Audit Report is required to be prepared in:
Which of the following is not a method of Transfer Pricing?
Top Management is more concerned with:
Sales (in units): Jan. 1,000, Feb. 2,000, Mar. 3,000, Apr. 4,000. 20% of the Sales are on cash basis and the balance on credit basis. Uniform Selling Price ₹20 per unit. 50% of cre
Sales (in units): Jan. 1,000, Feb. 2,000, Mar. 3,000, Apr. 4,000, May 5,000. 25% of the Purchases are on cash basis and the balance on credit basis. Uniform Selling Price ₹20 per u
A company sells two products, J and K. The sales mix is 4 units of J and 3 units of K. The contribution margin per unit are ₹40 for J and ₹20 for K. Fixed costs are ₹3,08,000 per m
Which of the following is true ?
Under section 247 of The Companies Act, 2013, a Registered Valuer shall be appointed by the Company's:
SEBI (Share Based Employee Benefits) Regulations, 2014 apply to the :
P purchased business from Q on 30th June, 2019. Profit earned by Q for the preceding years ending on 31 st December every year were: 2016- ₹41,000, 2017-₹40,000 and 2018- ₹42,000.
The relationship between the risk and return established by the security market line is called ............
Ind AS 33 deals with ............
Which of the following is not an objective of Activity Based Costing ?
Which of the following is also known as working capital ratio ?
A ............ is a booklet specifying the objectives of an orgnaisation in relation to its spending strategy.
From the following information, calculate net profit ratio : Gross Profit is 1 / 4 th of cost and sales is ₹2,00,000. Indirect expenses is ₹12,000 :
Beta of Market portfolio is always ............
Average profit of a firm is ₹48,000. The rate of capitalisation is 12%. Assets and liabilities of the firm are ₹4,00,000 and ₹1,70,000 respectively. Find value of Goodwill:
Value of share based on earning basis method is calculated as:
Selling price of a product is ₹32/unit. Variable cost ratio is 50%. Fixed cost is ₹96,000. Units sold are 10,000. Calculate Margin of Safety in percentage:
From the following, calculate production for the 4th quarter: Units Sold Q 1 12,000 Q 2 15,000 Q 3 16,500 Q 4 18,000 Opening units 10,000 at the beginning of Q1 and closing units 1
............ is regarded as a specialised branch of accounting which involves classification, accumulation, assignment and control of costs.
Margin of Safety may be improved by:
Primary packaging material is an example of :
If sales in an organisation is ₹1,00,000, fixed cost is ₹12,000 and profit is ₹8,000, Profit/ Volume ratio is ............
What is the General information attached in the Annexure to Cost Audit Report ?
Current ratio is 2.5: 1 and Liquid ratio is 1: 1. Stock is ₹60,000. Calculate current liability:
Monsoon is an example of key factor in which of the following indsutries ?
Activity Based Costing assigns costs to products by tracing expenses to ............
With reference to Ind AS 102, what does SBP stand for?

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