CS Executive Corporate and Management Accounting PYQ June 2022: Question Paper and Available Answers
CS Executive
Corporate and Management Accounting
PYQS Series
June 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 (June 2022). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.
Indexed questions
- Who originated the accounting concept based on double entry system ?
- Which of the following is an example of fictitious asset ?
- What is the nature of a Cash Book ?
- In the context of filing of financial statements by a company, the term "XBRL" means __________.
- As per ICAI Guidance Note on ESOP, Share Options Outstanding Account should be shown in the Balance Sheet of a company as follows:
- According to Section 128(1) of the Companies Act, 2013 every company shall prepare and keep its books of account and other relevant books and papers and financial statements for ev
- As per Companies Act, 2013, the prescribed form for Statement of Profit and Loss is given in :
- The nature of shares of a company is considered as a/an __________.
- What will be the rate of interest on calls-in-advance in the absence of any provision in the Articles of Association of a company ?
- Rule 12 of the Companies (Share Capital and Debentures) Rule, 2014 is related to __________.
- Bonus shares cannot be issued by a company out of __________.
- The maximum amount of discount on re-issue of forfeited shares shall be __________.
- X applied for 200 shares of ₹10 each in ABC Ltd., but he was allotted only 160 shares. After having paid ₹1 on application he did not pay the allotment money of ₹2 per share and fi
- P Ltd. has a total subscribed capital of ₹10,00,000 in equity shares of ₹10 each of which ₹7.50 were called up. A final call of ₹2.50 was made and all amounts paid except the two c
- When debentures are issued as collateral security, the account to be debited to record in the books of account is __________.
- When there is profit on cancellation of debentures, the amount of profit is transferred to __________.
- As per Section 68(2) of the Companies Act, 2013, post buy-back debt-equity ratio should be __________.
- 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 of Directors.
- A company cannot issue a prospectus or make an offer or invitation to __________ for subscribing to debentures unless the company has before issuing such a prospectus, appointed on
- X Ltd. purchased a building worth ₹4,50,000 and furniture worth ₹2,50,000 from Z Ltd. for an agreed purchase consideration of ₹6,60,000 to be satisfied by issue of 8% debentures of
- ABC Ltd. issued 10%, 10,000 debentures of ₹100 each at a discount of 8% and which are redeemable at a premium of 5%. What is the amount of loss on issue of debentures ?
- As per the provisions of the Companies Act, 2013, it is required that if the company is not able to collect __________ of the offer amount, then it needs to compulsorily return the
- In 2016, A Ltd. issued 12% ₹50,00,000 debentures at a discount of 8%; the debentures were redeemable in 2020. In 2020, the company gave the debenture-holders the option of converti
- In case of buy-back of shares, passing of special resolution by a company is not required if :
- The Escrow account under Regulation 9(xi) of SEBI (Buy-Back of Securities) Regulations, 2018, does not include :
- In case of issue of equity shares with differential rights as to dividend, voting or otherwise, the shares with differential rights shall __________ of the total post-issue paid up
- Public companies are required to issue audited financial statements to the public at least __________.
- Financial statements are prepared with an objective to provide information about the __________.
- When the effective capital of a company is ₹5 crore and above but less than ₹100 crore, the maximum remuneration payable by the company to its managerial personnel when the company
- Every company having turnover of __________ during the immediately preceding financial year shall constitute a Corporate Social Responsibility Committee of the Board.
- A company in which only the majority of shares (more than 50%) are owned by the holding company, it is said to be a/an __________.
- The main purpose of the preparation of consolidated statements is:
- If the holding company's year-end stock includes ₹2,70,000 goods invoiced to it by its 60% owned subsidiary at cost plus 25%, what is the amount of unrealized profit ?
- Company Auditor's Report Order (CARO), 2016 was issued by __________.
- CARO, 2016 applies to a private limited company which has a total revenue disclosed in Schedule III to the Companies Act, 2013, including revenue from discontinuing operations exce
- Every non-listed public company must have at least one woman director, if it has :
- Debenture interest paid is ₹1,20,000, Provision for taxation is ₹1,10,000, Preference share dividend paid is ₹80,000, Proposed dividend on equity shares is ₹1,80,000, then the Cash
- Plant and machinery original costing ₹13,55,000 (accumulated depreciation ₹7,28,000) was sold at a profit of ₹1,59,000 during the year 2019-20. The amount of cash flow from this tr
- Z Ltd. had the investment of ₹34 lakh as on 31st March, 2020 and that of ₹40.50 lakh as on 31st March, 2021. During the year the company sold 30% of its original investments at a p
- Cash inflow before working capital changes is ₹12,00,000, decrease in inventory is ₹1,50,000, increase in receivables position is ₹2,00,000 and increase in payables position is ₹1,
- X Ltd. purchased goods at the cost of ₹60 lakh in November, 2020. Till March, 2021, 75% of the stock was sold. The company wants to disclose stock at ₹15 lakh. The expected sale va
- AS-7 issued by the ICAI deals with __________.
- Stakeholders Grievance Committee is headed by __________.
- Shareholder Value Added (SVA) is equal to:
- Excess of Company's total market value over Capital invested is __________.
- X Ltd. has a cash sales of ₹15,00,000. Cash expenses are ₹7,00,000 and depreciation ₹1,25,000. Cash from Operating Activities of the company is :
- In case of financial enterprises, cash flows arise from interest paid should be classified as cash flow from:
- Which of the following Section of the Companies Act, 2013, requires that the auditor has to report whether in his opinion the financial statements comply with the Accounting Standa
- Which of the following International Accounting Standard (IAS) is related to Employee Benefits?
- The IFRS Advisory Council is the formal advisory body to the:
- The Association of International Certified Professional Accountants launched in 2017, bringing together the expertise and capabilities of the __________.
- External Reporting Board (XRB) belongs to :
- Public Interest Committee (PIC) established by International Public Sector Accounting Standards Board (IPSASB) consists of individuals from the :
- Financial Reporting Council (FRC) of the UK is a/an __________.
- Who notified the adoption and applicability of Indian Accounting Standards (Ind ASs) to Indian companies ?
- Ind AS 110 deals with:
- For the accounting period beginning on or after 1st April, 2019, all unlisted NBFCs whose net worth is more than or equal to __________ but less than __________ shall mandatorily f
- 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:
- Govind is the holder of 200 shares of ₹10 each. He had paid on these shares application money of ₹2 each, allotment money of ₹2 each and first call money of ₹3 each. He has failed
- The opportunity cost of the equity capital invested in a business is considered in the computation of __________.
- __________ is a process to ensure that appropriate action is taken if costs exceed a pre-set allowance or actions to be taken if costs are expected to exceed the expected levels.
- Primary packing material is an example of __________.
- Which of the following is the purpose of 'Time Recording'?
- Companies (Cost Records and Audit) Rules, 2014, came into force on __________.
- Which of the following is the social purpose of Cost Audit ?
- Which of the following is the General Information attached with the Annexure to the Cost Audit Report ?
- Which of the following Form is used for filing Cost Audit Report with the Central Government?
- __________ is a budget which can be attained under standard conditions.
- If the Activity Ratio and Efficiency Ratio of a factory are 80% and 66.67% respectively, then the Capacity Ratio will be :
- The following information is estimated for the year 2022: Normal loss in production will be 5% of input Sales (in units) as per Sales Budget 76,700 units Closing stock will be 1320
- Which of the following would be found in a Cash Budget?
- The Budgeted Sales for the next 4 months are - ₹96,000; ₹1,44,000; ₹1,44,000 and ₹1,68,000 respectively. It is estimated that sales will be paid for as follows: 75% of the sales wi
- The ideal norm preferred by Banks for current ratio is __________.
- If Gross Profit is 1/4th of cost, Sales is ₹4,00,000 and Indirect Expenses are ₹24,000, what will be the Net Profit Ratio?
- The following information is given : Current Ratio: 3 Acid Test Ratio: 1.8 Current Liabilities: ₹20 lakh What is the value of Inventory?
- __________ examines the policy of the company regarding dividend and retained earnings.
- Interest Coverage Ratio = 7. It indicates that __________.
- Which of the following is NOT included in the activity ratios ?
- Which of the following set of reports is classified according to their contents ?
- Which of the following is NOT an advantage of effective Management Reporting System ?
- Selling price of a product is ₹40 per unit. Variable cost ratio is 50%. Fixed cost is ₹1,20,000 and units sold are 10,000. What is the Margin of Safety in percentage?
- Which of the following is a method of transfer pricing considered when the supplier division is a monopoly producer ?
- If Break Even Sales is 60% of current sales and profit is ₹4,000, then what is the amount of contribution?
- From the following information, calculate the amount of profit : Sales ₹16,00,000; Fixed cost ₹4,00,000; P/V Ratio 30%.
- P/V Ratio of A Ltd. is 50% and Margin of Safety is 40%. What is the amount of Break Even Point and Net Profit if the sales volume is ₹50 lakh ?
- If total cost is ₹30,000 for the sales of ₹50,000 and ₹22,000 for the sales of ₹30,000, then the Profit Volume (P/V) Ratio is:
- Ind AS 33 deals with __________.
- Which of the following is NOT a valuation approach?
- A Ltd. has the following details: Return on Equity 15% Expected Earnings per share ₹5 Expected Dividend per share ₹3 Required Rate of Return 10% p.a. What is the expected growth ra
- Average profits, Super profits and Capital employed of Z Ltd. are ₹7,80,000; ₹2,40,000; and ₹45,00,000 respectively. Normal rate of return is 12%. The Value of Goodwill on the basi
- Under Section 247 of the Companies Act, 2013, a Registered Valuer shall be appointed by the __________.
- Which of the following methods of valuation of shares is suitable for ascertaining the market value of shares which are quoted in a recognized stock exchange ?
- With reference to Ind AS 102, what does SBP stand for?
- Beta of market portfolio is always __________.
- The relationship between risk and return established by the security market line is called as:
- Under Arbitrage Pricing Theory, it is assumed that the markets are frictionless because of the fact that there are :
- An investor expects a dividend of ₹8 per share for each of 5 years and a selling price of ₹120 at the end of 5th year. If his required rate of return is 10%, the share is a good bu
- Among all measures of business value, the __________ of business is likely to be the least value.
- Current market rate of X Ltd.'s equity share is ₹80 per share. The company is expected to pay a dividend of ₹4 per share with an annual growth of 10%. In this case the rate of retu
- As per Sec. 54 of the Companies Act, 2013, a company can issue sweat equity shares of a class of shares already issued only after __________ from the date of commencement of busine
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