CS Executive Corporate and Management Accounting PYQ December 2022: Question Paper and Available Answers
CS Executive
Corporate and Management Accounting
PYQS Series
December 2022
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 2022). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.
Indexed questions
- Accounting __________ of a business entity.
- Which of the following statements is correct in relation to Trade Discount?
- Journal Proper contains __________ that cannot be entered in any other subsidiary book.
- For disclosure requirement, list of share-holders holding __________ of shares as on the balance sheet date should be given.
- A limited company issued 10,000 equity shares of ₹100 each, payable ₹25 on application, ₹25 on allotment, ₹25 on first call and ₹25 on final call. One shareholder to whom 800 share
- A company invited applications for 50,000 shares of ₹10 each at a premium of ₹2 per share, payable as ₹3 on application, ₹5 on allotment (including premium) and the balance on call
- The minimum time interval between two successive buy-back offers is __________ from the closure of the preceding offer of buy-back.
- A company cannot issue bonus shares to its members:
- A company can issue shares under Employees Stock Option Scheme (ESOS) to the permanent employees of:
- RR Ltd. has a paid-up equity share capital of ₹50 Crores in the year 2022-23. During the year, the company wants to issue sweat equity shares to its employees. Previously, if the c
- The acronym XBRL stands for:
- G Ltd. wants to issue Redeemable Preference Shares to mobilize funds to carry out an airport development project. In this case, what should be the maximum redemption period ?
- PK Ltd. issued 20,000 equity shares of ₹25 each for public subscription. The issue was underwritten by P, Q and R as 25%, 30% and 25% respectively. The company received 13,000 appl
- Appointment of Debenture Trustee is a pre-condition to give invitation for subscribing of debentures to public when the invitation is given to :
- The amount remaining invested or deposited in the specified securities shall not, at any time, fall below __________ of the amount of debentures maturing during the year ending on
- SS Ltd. purchased ₹15,000, 8% own debentures of ₹1,000 each on 30th September at ₹960 cum-interest. If interest is payable on 30th June and 31st December, the amount debited to Own
- A company planned to buy-back its own shares for a consideration of ₹200 crores. For this, as per the SEBI Regulations 2018, the escrow amount that should be payable is:
- A company can issue debentures :
- In case of Companies other than listed companies, __________ has the right to determine the exercise price under the Employees Stock Option Scheme (ESOS).
- The voting power, in respect of shares with differential rights, of a company shall not exceed __________ of total voting power including voting power in respect of equity shares w
- According to Ind ASI, the basis for presentation of general purpose financial statements is to ensure:
- Cash Flow Statement, as a part of financial statements, helps in assessing the __________ of an enterprise.
- Consider the following information : Paid-up share capital 30 Long-term loan repayable after 3 years 10 Accumulated losses 7 Share application money 0.5 Preliminary expenses 0.8 Re
- T Ltd. provided the following information from its records as on 31-03-2022. Total Turnover ₹870 crores Gross Profit ₹11 crores Net Profit ₹4.7 crores Paid-up share capital ₹400 cr
- The Director or an employee of a company, who __________ with related party against the provisions of Section 188 of The Companies Act, 2013 shall be liable for a penalty.
- Sitting fee to directors for attending Board or Committee meeting shall be decided by:
- If a company spends any amount as CSR expenditure in a year in excess of the requirement provided u/s 135(5), the said excess amount shall be set-off against the requirement to spe
- A holding company can hold shares of subsidiary, but a subsidiary cannot hold shares of its holding company. This restriction does not apply to:
- S Ltd. has a capital of ₹4,00,000 in shares of ₹100 each, out of which H Ltd. purchased three-fourths of the shares at ₹4,80,000. The profit of S Ltd. at the time of purchase of sh
- Unrealized profit included in stock of goods sold by holding company to subsidiary or subsidiary company to holding company should be __________ while preparing consolidated financ
- The share capital of H Ltd. and S Ltd., constituted in shares of ₹10 each, was respectively ₹5,00,000 and ₹1,00,000 as on 31st March, 2022. S Ltd., had a credit balance of ₹30,000
- The fundamental accounting assumption(s) to be followed to avoid specific disclosure of accounting policies in financial statements include:
- The most important traditional performance measure for shareholder value creation is :
- In case of Government Company, the Comptroller and Auditor General of India, within __________ from the date of receipt of audit report, has the right to conduct a supplement audit
- Which of the following is the newly added reporting clause in Companies (Auditor's Report) Order 2020 ?
- As provided by the Companies Act, 2013, under corporate governance, out of the total number of directors, at least two of them should be independent directors in case of :
- Compliance Report on Corporate Governance in Annexure II format shall be given :
- According to value added concept, gross value added is distributed to :
- EC Ltd., has an Economic Value addition of ₹40,000 as on 31st March, 2022. During the year, its net operating profit before tax is ₹72,00,000 and Weighted Average Cost of Capital i
- Which of the following is a corrective measure to increase the Economic Value Added of a business concern ?
- __________ method of valuation integrates profit and loss account, balance sheet and cash flow statement of a business entity.
- Usage of Shareholder Value Added as a performance measure is advisable to:
- Cash equivalents are investments:
- The net income reported in the income statement of the year was ₹1,75,000 and depreciation on fixed assets for the year was ₹40,000. The balances of current assets and current liab
- From the following information, find out the cash flow from Investing activities. Furniture in the beginning of the year (net) ₹3,50,000 Furniture at the end of the year (net) ₹4,1
- M Ltd. provides the following details : Items 2020 (₹) 2021 (₹) Share Capital 8,00,000 12,00,000 12% Debentures 4,00,000 3,00,000 Share premium 60,000 1,00,000 Int. on debentures p
- In the following situations, when there will be a flow of fund for the purpose of Fund Flow Statement ?
- You are given with the following information : Items 2020 (₹) 2021 (₹) Building 50,000 66,000 Stock 80,000 90,000 Debtors 1,20,000 1,15,000 Cash 30,000 47,000 Total 2,80,000 3,18,0
- The balance in Plant & Machinery account at the beginning of the accounting year was ₹1,80,000 and at the end was ₹2,60,000. During the year, an old machinery which had cost of ₹12
- In India, accounting standards are issued by:
- When a very small proportion of the activities of an enterprise is considered to be commercial, industrial or business in nature then the Accounting Standards would apply to:
- AS 3 shall not apply to small and medium company (SMC) if it is a :
- When there is a conflict between the provisions of any applicable Act and the Accounting Standard, then :
- As per the provisions of AS 02, inventories should be valued at :
- The provisions of AS 19 related with leases are not applicable in accounting relating to :
- The strategic objective of __________ is strengthening Public Financial Management globally.
- Scheduled commercial banks excluding regional rural banks, are required to apply Indian Accounting Standards (Ind ASs) for preparing their financial statements for the period endin
- Ind AS 27 prescribes the accounting and disclosure requirements for investments in __________ when an entity prepares separate financial statements.
- __________ prohibits presentation of any item as extraordinary item in the statement of profit and loss or in the notes.
- Ind AS 33 requires presentation of basic and diluted Earnings Per Share from:
- Match List-I with List-II: List-I (a) Staff Services (b) Current Market Price (c) Make or buy decisions (d) Conveniently identifiable List-II (i) Replacement Cost (ii) Direct Cost
- Which of the following techniques of material control analyses items of material based on their criticality to production ?
- Time recording is necessary in case of :
- The need for classifying overheads into fixed and variable is essential to:
- If cost of production is ₹1,87,500; opening stock of finished goods is ₹72,800; closing stock of finished goods is ₹44,000; sales return is ₹12,500 and purchase return is ₹8,000; t
- A company specified in item (A) of Rule 3 of the Companies (Cost Records and Audit) Rules, 2014 shall get its current year cost records audited when the overall annual turnover of
- Which of the following is not applicable to forecast ?
- The difference between fixed and variable cost has a special significance while preparing :
- The budget which is very useful to identify alternative methods for utilization of scarce resources in effective attainment of selected benefits is:
- The following details are given for March 2022: Budgeted production 200 units. Actual production 250 units. Budgeted working days 24 Actual days worked 27 Standard time per unit 1.
- Which of the following techniques for analyzing financial statements shows the nature and rate of movement of various financial items?
- Interest cover ratio is an example of :
- Cash sales ₹1,50,000 Cost of goods sold ₹7,00,000 Debtors turnover ratio 2.5 times Gross profit ₹2,00,000 If closing debtors are ₹80,000 more than the opening debtors, the average
- The following information is given : Cost of goods sold ₹7,20,000 Sales returns ₹20,000 Capital employed ₹2,80,000 Gross profit ratio 25% on cost Working capital ₹60,000 Fixed asse
- If current ratio is 2.5, Acid test ratio is 1.2 and net working capital is ₹1,80,000, the value of liquid assets would be :
- From the following information find out the return on capital employed : Net profit after tax ₹2,40,000 (Tax Rate 40%) 10% Convertible debentures ₹5,15,000 Fixed assets at cost pri
- The following information is provided : Net profit after tax ₹80,000 Tax Rate 30% 11% Preference share capital (₹10 each) ₹5,00,000 Equity share capital (₹100 each) ₹4,00,000 Worki
- Middle level management needs :
- In marginal costing, __________ are valued at marginal cost.
- If a firm has low margin of safety, this can be improved by:
- The following information is given : Fixed expenses ₹1,75,000 Variable cost per unit ₹10 Selling price per unit ₹16 What should be the selling price per unit to reduce the break-ev
- K Ltd. has fixed expenses of ₹1,00,000, sales of ₹3,60,000 and profit of ₹80,000 during the first half of a year. In the next half year, if the company suffers a loss of ₹40,000, t
- The P/V ratio and margin of safety of E Ltd. are respectively 40% and 30%. If the sales volume is ₹40,00,000, the profit would be :
- AK Ltd. produces a component B by using a machine working to full capacity. One unit of B takes 5 hours to produce and has a selling price of ₹50 and variable cost of ₹25. Another
- The following information relates to production and sale of product R in April and May 2022 : Items April (₹) May (₹) Sales 40,000 70,000 Profit/Loss (3,500) 5,500 Find out the Bre
- The following are obtained from the records of a company: Sales (4,000 units @ ₹25 p.u.) ₹1,00,000 Variable cost ₹72,000 Fixed cost ₹16,000 Find the additional units to be sold to
- If a company has a P/V ratio of 40%, by what percentage sales must be increased to offset 10% reduction in selling price ?
- In absorption costing, all of the manufacturing costs are absorbed by the total no. of units :
- Transfer price covers transactions between :
- In Activity Based Costing (ABC), as many costs of production as possible are accounted as:
- In Activity Based Costing (ABC), __________ is a factor that causes a change in the cost of an activity.
- In general, among all the measures of value of a business, the value under this measure is most likely to be least ?
- The equity shares of a company are currently selling at ₹80 per share and the company is expected to pay a dividend of ₹5 per share. If the rate of return is calculated as 16%, wha
- When an entity presents both, consolidated financial statements and separate financial statements as per Ind AS; the disclosures required under Ind AS 33 shall be given in:
- Fair value as per Ind AS 113 is the price that would be received to sell an asset or paid to transfer a liability in a transaction between market participants on the:
- The value of a share under yield basis is calculated by finding out the capitalization factor. For the computation of the capitalization factor, __________ is used as a base.
- The total value of assets and liabilities of a firm are respectively as ₹24,00,000 and ₹10,00,000 and its average profit is ₹3,50,000. If the value of goodwill of the firm is calcu
- G Ltd. has initiated a share-based payment arrangement with its employees. Accordingly, an employee who remains in service for at least five years from the grant date can exercise
- Which of the following is not a disclosure required under Ind AS 102 in share based payment arrangement ?
- From the following, find out the expected rate of return when the security is correctly priced : Expected rate on market portfolio 16% Risk free rate of return 7% Beta factor of th
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