CS Executive Corporate and Management Accounting PYQ June 2023: Question Paper and Available Answers

CS Executive Corporate and Management Accounting PYQS Series June 2023 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 2023). 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

Measurement, Forecasting, Decision Making, Comparison and Evaluation, Control and Government Regulation and Taxation are the functions of .........
Capital, Reserves and Undistributed Profits are the examples of .........
......... is an activity concerned with recording and classifying financial data related to business operations in order of occurrence.
General ledger is further divided into two categories namely:
The revenue expenditure results .........
Financial Statements may be rounded off to the nearest hundreds, thousands, lakhs or millions, or decimals thereof where the turnover of the company .........
Profit on Re-issue of forfeited shares is a profit of a capital nature and, hence, it should be credited to .........
Subscribed Share Capital is "that portion of the issued Share Capital which has actually been subscribed by the public and subsequently allotted to the shareholders by the entity".
If expenses or income that do not arise in the ordinary course and are material, they should be stated separately in the profit and loss account under the heading:
Where any company fails to comply with the provisions of this section 53(3) of the Companies Act, 2013 in respect of the issue of shares at discount, such company and every officer
As per Table F of the Companies Act, 2013, the maximum rate of interest on calls in advance prescribed is ......... p.a.
ABC Limited issued at par 2,00,000 equity shares of ₹ 10 each payable at ₹ 3 on application, ₹ 2.5 on the allotment, ₹ 2 on the first call and remaining on the final call. All the
In the case of shares, the rate of underwriting commission paid or agreed to be paid shall not exceed :
In case the shares are bought back at discount, the amount of discount on buy-back will be credited to .........
Vesting has two components .........
Which debentures are paid on the basis of priority as compared to other debentures ?
PQR Ltd. had issued ₹ 1,00,000, 8% debentures on which interest was payable half-yearly on 30th September and 31st March. Tax deducted at source is 10%. The necessary journal entri
When debentures are issued at a discount and are redeemable at a premium, which of the following accounts is debited at the time of issue ?
If the sinking fund is non-cumulative, the interest received on Sinking Fund Investment .........
ABC Ltd. purchase a building for ₹ 25,00,000 payables as 20% as cash and balance by allotment of 10% debentures of ₹ 100 each at a premium of 25%. Calculate the number of debenture
Discount on the issue of debentures is ......... and can be written off against .........
In which case, a special resolution is not required at a general meeting of the company to buy-back the shares :
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. [Section 68(4)]
The amount credited to the Debenture Redemption Reserve shall be utilized by the company for the purpose of .........
Underwriter Ltd. issued 1,25,000 shares which were underwritten as follows : P : 40%, Q : 40% and R : 20% Details of the marked application are : P : 40,000 shares, Q : 32,000 shar
Option discount under Employees Stock Option Scheme (ESOS) means:
The name of statement which is used as a temporary statement to judge a company's financial position until the full annual statements to be issued.
A liability which can be measured only by using a substantial degree of estimation is called .........
LMN Limited has a managing director and one part-time director. Net profit before provision for income tax and managerial remuneration is ₹ 2,25,00,000. The eligible amount of mana
Following are the data extracted from the financial statement of ABC Limited: Authorized capital 50 crore Paid up share capital 30 crore Reserve & surplus 10 crore Revaluation
ABC Ltd. is a manufacturing company having a turnover of ₹ 2,100 crore during the financial year 2021-22. ABC Ltd. has a profit for the financial year 2021-22 ₹ 210 crore, financia
A ......... is a business segment or a geographical segment identified on the basis of the foregoing definitions for which segment information is required to be disclosed by this s
The dividend received out of post-acquisition profits of the subsidiary is .........
If the net cost of investment of the holding company in the equity and preference shares of the subsidiary company is more than the share of the holding company in the net assets o
H Ltd. acquires 70% of the equity shares of S Ltd. on 1-1-2022. On that date, the paid up capital of S Ltd. was 5,00,000 equity shares of ₹ 10 each; the accumulated reserve balance
Which Accounting Standard was issued by ICAI on 'consolidated financial statement'?
Stock Reserve for unrealised profit in respect of inter-company transactions should be created by .........
Which statement is true in respect of the treatment of equity dividend proposed by the subsidiary company during the current year ?
What is the treatment requirement for revenue dividend received by the minority ?
Shareholder Value Added (SVA) is .........
If the sales are ₹ 50,00,000, operating expenses ₹ 38,50,000, Tax paid ₹ 3,58,800 and dividend paid ₹ 1,22,000. What will be Net Operating Profit After Tax ?
Non-listed public companies appoint at least one-woman director as per Section 149(1) of the Companies Act, 2013 read with Rule 3 of Companies (Appointment and qualifications of di
Companies (Auditor's Report) Order, 2020 (CARO 2020), clause (vii) related to :
While preparing the Cash Flow Statement, adjustment for Proposed Dividend is :
While preparing the cash flow statement 'Interest paid to debentureholders' will be considered as a .........
In the Balance Sheet of ABC Ltd. A provision for taxation of ₹ 4,00,000 and ₹ 5,00,000 on 31-03-2021 and 31-03-2022 respectively. It made a provision for taxation of ₹ 4,50,000 dur
Profit during the year ₹ 2,20,000. During the year, there was an increase in stock by ₹ 72,000 and a decrease in creditors by ₹ 48,000. What is the amount of cash from operating ac
ABC Limited purchased machinery for ₹ 50,00,000 and sold an old plant with a book value of ₹ 13,20,000 at a loss of ₹ 1,30,000. ABC Limited also received a dividend of ₹ 1,20,000 o
Cash collected from debtors is .........
Corporate entities are required to follow accounting standards while preparing their financial statements as per ......... of the Companies Act, 2013.
As per AS-2, Inventory should be valued at .........
Which of the following is a Level-1 enterprise ?
Components of financial statements as per IFRS is .........
Match List I with items in List II: List I List II (a) IFRS 2 (i) Lease (b) IFRS 4 (ii) Share-Based payments (c) IFRS 8 (iii) Operating Segment (d) IFRS 16 (iv) Insurance Contract
IFRS Advisory Council meets in London at least .........
The structures and processes that support the operations of the international public sector accounting standards board (IPSASB) are facilitated by the .........
The IFRS Foundation has a three-tier governance structure namely:
Existing AS 14 requires amortization of goodwill arising on amalgamation in the nature of the purchase. Whereas .........
"To establish principles for the financial reporting of financial assets and financial liabilities that will present relevant and useful information to users of financial statement
The objectives of Ind As 103, Business Combinations are .........
The techniques and processes of ascertaining costs are called .........
The example of notional expenses is .........
The department which prepares plans and specifications for each job, supervises production activities, undertakes time and motion studies, performs job analysis, etc. is .........
How to calculate the cost per unit to find the value of the closing stock of finished goods ?
Cost of sales is .........
From the following data, calculate Prime Cost: The Raw material consumed is ₹ 20,00,000, Opening stock of finished goods ₹ 1,00,000, closing stock of finished goods ₹ 1,40,000. Dir
Any casual vacancy in the office of a Cost Auditor shall be filled by the .........
CRA-1 prescribe the form related to .........
Match List I (Item) with items in List II (Budget Factor or Key Factor): List I (Item) (a) Material (b) Labour (c) Plant & Machinery (d) Sales List II (Budget Factor or Key Fac
The formula of capacity ratio is .........
While preparing the production budget, the unit to be produced is equal to .........
Which is not the method of preparation of cash budget ?
"De nova budgeting" is a better term of .........
From the following, calculate the Debt-Equity Ratio: 10,000 Equity Shares @ 10 each ₹ 1,00,000 General Reserves ₹ 50,000 Debentures ₹ 75,000 Sundry Trade Creditors ₹ 37,500
From the following data, calculate Inventory Turnover Ratio: Cost of goods sold ₹ 3,00,000, Purchases ₹ 3,30,000, opening stock ₹ 60,000.
From the following data, calculate the earnings per share (EPS) 50,000 Equity shares of ₹ 10 each ₹ 5,00,000 9% Debentures ₹ 2,00,000 Net profit after tax ₹ 1,18,000
Current liabilities of a company are ₹ 3,00,000. Its current ratio is 3: 1 and the liquid ratio is 1: 1. The value of the stock is .........
If sales are ₹ 13,20,000 sales returns are ₹ 1,20,000 and cost of goods sold ₹ 6,00,000 and closing stock of finished goods is ₹ 2,00,000, gross profit ratio will be .........
If the current ratio is very high, then .........
Higher level of management reports are .........
Sales minus (-) variable cost is equal to .........
If the Marginal Cost is ₹ 2,400 and the P/V Ratio is 20%. Sales value will be .........
The following figures are available from the records of book of account as on 31st March: March 2021 March 2022 ₹ lakh ₹ lakh Sales 50 200 Profit 30 50 Calculate Profit Volume Rati
If Fixed expenses is ₹ 4,000 and Break-even point is ₹ 10,000. What will be the profit when sales are ₹ 20,000 ?
Following are not true in respect of absorption costing:
Which formula is used to calculate cost under Activity Based Costing?
The correct stages in developing an Activity Based Costing System are .........
Total assets is ₹ 22,50,000, Fixed assets ₹ 20,00,000 valued at 10% above the book value and miscellaneous expenditure is ₹ 2,50,000 and 12% Debentures ₹ 4,00,000. The value of NAV
In the capitalization of Earning method, the Capitalization rate is .........
The formula of Price-Earning Ratio is:
The formula using for calculating diluted earnings per share is:
The following data available from the record of ABC Limited : 10,000, 9% Preference Shares of ₹ 100 each fully paid and 80,000 equity shares of ₹ 10 each fully paid, Reserves and S
As per valuation guidelines prescribed by RBI under the Foreign Exchange Management Act, 1999, the price for the transfer of shares by a non-resident to an Indian resident shall no
The total capital employed in the firm is ₹ 15,00,000. The Normal Rate of return is 12% and the profit for the year is ₹ 1,50,000. Calculate the value of goodwill as per the Capita
The date at which entity and counterparty have a shared understanding of the terms and conditions of the agreement is called .........
The company is required to recognize employees stock compensation expenses :
Cash flows become logically comparable when they are appropriately adjusted for their difference in .........
(Net Operating Profit after Taxes) - (Equity Capital × % Cost of Equity Capital) is the formula of .........
......... represents the economic profits generated by a business above and beyond the minimum return required by all the providers of capital.
Prospective Price Earnings Ratio/Prospective average earnings growth is a formula for calculation of .........

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