CS Executive Corporate and Management Accounting PYQ June 2024: Question Paper and Available Answers
CS Executive
Corporate and Management Accounting
PYQS Series
June 2024
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 2024). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.
Indexed questions
- The Amount available for distribution to owners at the time of closure of business after payment of all liabilities.
- A purchased goods for the list price of ₹ 60,000 with a trade discount @ 20% and cash discount @ 5%. A paid 40% on the date of purchase. The amount of cash discount will be :
- Salary Payable A/c is an example of:
- Purpose of Trial Balance is :
- If the turnover of a company is Rs. Hundred crore or more then these companies can round off:
- X Ltd. paid ₹ 20 Lakh as advance to the vendor to install a Hydro Power Plant. This amount is to be disclosed in the balance sheet as per Schedule III of the Companies Act, 2013 un
- This share capital in respect of dividend, in addition to the preferential right to the payment of dividends, has the right to participate, whether fully or to a limited extent, wi
- A company has 10,00,000 equity shares of ₹ 100 each. The company wants to buyback 1,00,000 equity shares from the market. For this:
- Employees Stock Option Scheme must be:
- A Ltd. has 20,00,000 outstanding equity shares of ₹ 100 each. What is the provision for the issue of sweat equity shares and how many sweat equity shares can be issued by A Ltd. ?
- In case of the issue of debentures as collateral securities the holder is entitled to:
- As per SEBI (Issue and Listing of Debt Securities), Regulations 2008 for manufacturing companies, infrastructure companies, and privately placed debentures by listed companies or u
- Premium on redemption of debentures is :
- A Ltd. is a listed public company in which Mr. X is working as Managing Director, 120 Permanent Employees including 10 directors, 75 contractual employees, and 3 Independent direct
- Which of the following statements is true?
- A company issued a prospectus inviting applications for 2,00,000 equity shares of ₹ 100 each. The whole issue was fully underwritten by three underwriters: A - 1,00,000 shares, B -
- These reports complete the fundamental purpose of financial accounting by providing information that is helpful in the financial decision-making process.
- Which of the following options are INCORRECT ? A Reserve : (i) an appropriation on the profit (ii) is created to cover a known liability or expected future loss (iii) is a charge a
- Every company shall constitute a Corporate Social Responsibility Committee of the Board consisting of three or more directors, out of which at least one director shall be an indepe
- Net profit for the year is ₹ 2,00,000. During the period, Trade Payable decreased by ₹ 10,000, inventory increased by ₹ 6,000 and Trade Receivables increased by ₹ 15,000. The amoun
- For the accounting period beginning on or after 1st April 2019, NBFCs will be required to follow Ind ASs if :
- When an entity provides goods or services to customers at a price or rate that is subject to rate regulation is known as:
- ............ provides explanation about inventories of service providers.
- The ledger where all transactions relating to assets and liabilities are recorded is called :
- In case of the purchase of debentures in the open market for immediate cancellation, if there is any difference between the nominal value of the debentures cancelled and the price
- When a company purchases its own shares out of free reserves, then a sum equal to the nominal value of the shares so purchased shall be transferred to the :
- If there are profits and the dividends on cumulative preference shares are in arrears, the arrears of dividends on preference shares held by the Minority shareholders should be :
- H Ltd. acquires 75% of the equity shares of S Ltd. on 1-4-2023. On that date, the paid-up capital of S Ltd. was 20,000 equity shares of ₹ 100 each; the accumulated reserve balance
- Non-listed public companies having paid-up share capital of ₹ 100 crores or more or having a turnover of ₹ 300 crores or more are required to appoint :
- Shareholder value added is :
- Following is the information of ABC Limited : Equity Share Capital = ₹ 1,200 lakhs 12% Debenture = ₹ 600 lakhs WACC = 12% Financial Leverage 1.5 times (Assume a 30% tax rate) EVA i
- Profits are meant for shareholders whereas value added is meant for:
- To establish principles for reporting financial information, about the different types of products and services an enterprise produces and the different geographical areas in which
- The objective of Accounting Standard-23 (Accounting for Investments in Associates in Consolidated Financial Statements) is :
- The focus of the IFRC Advisory Council is to provide strategic support and advice to the IFRS Foundation, and it meets in:
- The total number of members normally the Australian Accounting Standards Board (AASB) has:
- The International Public Sector Accounting Standards Board's (IPSASB) structures and processes are facilitated by the :
- The following are the extracts of the current liabilities of a limited liability company : 31-3-2022 31-3-2023 Provision for Taxation 50,000 75,000 An income tax of ₹ 65,000 was pa
- The focus of AS-20 is on denominator of the ............ calculation.
- The expected sales value of stock is ₹ 20 lakhs and a commission of 10% on sale is payable to the agent. Calculate Net Realisable Value (NRV) as per AS-2?
- ICSI functions under the jurisdiction of the :
- ............ represents the economic profits generated by a business above and beyond the minimum return required by all providers of capital.
- CSR stands for ............
- Which type of committee is not required to be formed for compliance with provisions of Corporate Governance under the Companies Act, 2013 and SEBI Regulations ?
- Pre-acquisition dividend received by Holding Company is credited to ............
- Holding Company holds more than ............ voting power in subsidiary company.
- The net profit on forfeiture and reissue of equity shares is transferred to ............
- Final Accounts of companies are prepared according to ............ of the Companies Act, 2013.
- Sale of copyright is concerned with cash flow from ............
- A person who undertakes to take up the whole or a portion of the offered shares or debentures as may not be subscribed for by the public is called ............
- As per SEBI Regulations, the merchant banker shall underwrite at least ............ itself or jointly with other merchant bankers associated with the issue.
- Under ESOS employees are given an option to purchase shares at ............
- If interest on calls-in-advance is not mentioned in the articles then the rate must be decided by the Board of Directors subject to a maximum of 12% p.a. as per :
- Sagar Ltd. purchased a machinery worth ₹ 1,20,000 and building worth ₹ 2,00,000 from Radha Ltd. for an agreed purchase consideration of ₹ 3,00,000 to be satisfied by the issue of 3
- Instalment of principal amount of long term loan payable within next 12 months is shown under Balance Sheet of a company under the heading ............
- A special bank account with schedule bank is to be opened if buyback of shares is given :
- A company may allot fully paid shares to promoters or any other party for the services rendered by them, share capital account is credited and ............ debited.
- The following is not an advantage of Double entry system:
- At the time of forfeiture of shares, the share capital account will be ............
- This Standard deals with the preparation of financial statements on a going concern basis using the accrual basis of accounting, materiality and aggregation issues, offsetting of a
- Direct materials include: (i) All materials specifically purchased for a particular job/process (ii) All material acquired and later requisitioned from stores (iii) Components purc
- According to CIMA, the prime cost is:
- Any casual vacancy in the office of a Cost Auditor, whether due to resignation, death or removal, shall be filled by the ............ within ............ of the occurrence of such
- The form that required intimation of the appointment of a cost auditor by the company to the central government :
- What is the amount of variable cost per unit and fixed cost? Volume of output 80,000 units 1,20,000 units Total Production overheads ₹ 4,00,000 ₹ 5,50,000
- Budgeted Hours = 1,25,000 Actual Production = 20,000 Standard hours per unit = ₹ 5 Actual hours = 90,000 Activity ratio is:
- All items in this statement are expressed as a percentage of the base item. This is a :
- Net Profit before tax = ₹ 2,00,000 Taxation @ 50% of Net Profit 20% Preference Capital = ₹ 75,000 10,000 Equity shares of ₹ 10 each = ₹ 1,00,000 Earnings per share from the data is
- Total Assets = ₹ 1,25,000 Total debts = ₹ 1,00,000 Current Liabilities = ₹ 50,000 The Debt-Equity ratio will be :
- Which ratio is the barometer of the market sentiment ?
- Proprietary funds is:
- The reports which are to be presented after investigating the problem which requires to be scrutinized is called :
- The Higher Level of Management Reports are:
- Only variable costs are considered as:
- The data of a Limited company Year 2022 Year 2023 Sales (lakhs) 300 400 Cost (lakhs) 240 300 The P/V Ratio is :
- Under absorption costing the stocks are valued at:
- Direct Material = ₹ 40 Direct Labour @ ₹ 10 per hour = ₹ 20 Variable overheads = ₹ 20 Selling price = ₹ 100 If labour hours are the key factor, what is the contribution per key fac
- Approaches of valuation are :
- An investor wants to invest in an equity share of ABC Ltd. The company's last EPS was ₹ 40 per share and the dividend payout ratio is 35%. The required rate of return from equity i
- Diluted earnings per share shall be calculated :
- The approaches which are used in valuation of intangible assets are:
- The average profit of a firm is ₹ 75,000. The rate of capitalization is 12%. The assets and liabilities of the firm are ₹ 6,80,000 and ₹ 4,30,000 respectively. The value of goodwil
- Valuation of Shares is to be done by:
- Asset backing or intrinsic value or break-up value method is also called :
- Ind AS 102 applies to:
- An investor wants to invest in the equity shares of XYZ Ltd for one year. The company is expected to declare a dividend of ₹ 3 per share. Further, a leading security analyst has pr
- The P/E ratio (also known as the P/E multiple) is the method most widely used by finance managers, investment analysts and equity shareholders to arrive at:
- Systematic risk of a security is indicated by:
- Economic Value Added (EVA) is :
- The opportunity cost of making a component part in a factory with no excess capacity is the :
- Pick out the correct statement:
- The difference between variable costs and fixed costs is :
- If the budget of a company is reviewed and updated at regular intervals, it is known as :
- Which of the following is not a part of operating budget ?
- In the cost Audit report Abnormal Non- Recurring cost relates to :
- Which of the following is not a method of business valuation?
- Which of the following is not the method of valuation of goodwill?
- The ratio that explains how efficiently companies use their assets to generate sales is ............
- (1) To determine Fair value. (2) To set out a single Ind AS framework for measuring fair value. (3) To require disclosures with respect to fair value measurements. Above objectives
- The date that award exercised satisfied conditions of agreement is called:
How to Prepare for CS Executive Corporate and Management Accounting
Use past questions to practise the paper format and review available answers. Check the current syllabus, applicable law and examination duration before attempting a timed paper.