Max.

Marks: 100

ITO Paper II (Advanced Accountancy) (Without Books)

Important Instructions: All questions carry one mark each. For every incorrect
attempt 1/8th mark shall be deducted. In case of any doubt, the English version
may be taken as authentic. Wherever Assessment Year is not given, it may be taken
as A.Y. 2022-23. In case of doubt in respect of the answer, choose the most
appropriate option for the given question.
1. At the balance sheet date, the balance on the rqyu&i= frfFk ij] ewY;gzkl
Accumulated Provision for Depreciation [kkrs gsrq lafpr mica/k ij ‘ks”k
Account is d;k gS&
a) rqyu&i= dh vkfLr esa ls
a) Simply deducted from the asset in the lk/[Link];k ?kVkrs gq,s
Balance Sheet b) ykHk ,oa gkfu [kkrs esa
b) Transferred to Profit and Loss Account
c) Transferred to the Asset Account
varfjr djrs gq,
c) vkfLr [kkrs esa varfjr
d) Transferred to Depreciation Account
djds
d) ewY;gzkl [kkrs esa varfjr
djds
2. In the situation of bankruptcy, a stock which is fnokfy;k dh fLFkfr esa og LVkWd]
recorded above common stock and below debt ftls lkekU; LVkWd ds Åij ntZ
account is fd;k tkrk gS vkSj _.k [kkrs esa
a) Preferred Stock uhpsa] mls D;k dgrs gS\
b) Debt Liabilities a) vf/kekuh LVkWd
c) Common Liabilities b) _.k ns;rk,W
d) Hybrid Stock
c) lkekU; ns;rk,a
d) fefJr LVkWd
3. A company issued 20,000 preference shares at ,d daiuh us 5% fizfe;e ij]
the rate of Rs. 100 each at 5 % premium and izR;sd ‘ks;j 100@& :- dh nj
2,00,000 equity shares at the rate Rs. 10 each ls 20000 vf/kekuh ‘ks;j vkSj
at 10% premium. What is the net amount of
securities premium?
10 % izhfe;e ij] izR;sd ‘ks;j
a) Rs. 1,00,000 10@& :- dh nj ls 200000
b) Rs. 2,00,000 bfDoVh ‘ks;j tkjh fd;sa izfrHkwfr
c) Rs. 2,40,000 izhfe;e dh ‘kq) jkf’k D;k
d) Rs. 3,00,000 gksxh\
a) 1]00]000@& :-
b) 2]00]000@& :-
c) 2]40]000@& :-
d) 3]00]000@& :-
4. A company forfeited 2,000 shares of Rs.10 ,d daiuh us 4@& :- izfr ‘ks;j
each (which were issued at par) held by Mr. dh nj ls vkcaVu jkf’k tek u
John for non-payment of allotment money of djokus ds fy;s] Jheku tkWu ds
Rs.4 per share. The called-up value per share 10@& :- izR;sd ewY; ds
was Rs.9. On forfeiture, the amount debited to ¼leewY; ij tkjh½] 2000 ‘ks;j
share capital? tCr dj fy;sA izR;sd ‘ks;j dk
a) Rs.10,000
b) Rs.8,000
dkWYM&vi ewY; 9@& :- FkkA
c) Rs.2,000 tCrh ds ckn ‘ks;j dSfiVy ls
d) Rs.18,000 ?kVkbZ xbZ jkf’k D;k gksxh\
a) 10]000@& :-
b) 8]000@& :-
c) 2]000@& :-
d) 18]000@& :-
5. In case of ....................., one existing company &&&& ds ekeysa esa ,d fo|eku
takes over the business of another company daiuh nwljh daiuh ds O;kikj dks
and no new company is formed. Vsd vksoj dj ysrh gS vkSj blls
a) Amalgamation dksbZ ubZ daiuh ugha curh gS
b) Absorption a) lekesyu
c) Reconstruction
 d) None of the above b) vkesyu
c) iqufuZek.k
d) mi;qZDr esa ls dksbZ ugha
6. The three fundamental accounting assumptions Rkhu ewyHkwr ys[kkdj.k ekU;rk,a
are D;k gS\
(i) Accrual (i) lekesyu
(ii) Conservatism (ii) dlajosfVLe
(iii) Going Concern (iii) Xkksbax daluZ
(iv) Consistency (iv) fujrjark
(v) Matching
(v) feyku
a) (ii), (iii) and (iv)
b) (i), (iii) and (iv) a) (ii), (iii) vkSj (iv)
c) (ii), (iv) and (v) b) (i), (iii) vkSj (iv)
d) (iii), (iv) and (v) c) (ii), (iv) vkSj (v)
d) (iii), (iv) vkSj (v)
7. Rustom Ltd. forfeited 300 equity shares of :Lre fyfeVsM us] ‘ks;j /kkjd
Rs.10 each issued at par for non-payment of }kjk 4@& :- izR;sd ‘ks;j dh nj
Rs. 4 per share by the holder. These shares are ls Hkqxrku u djus ij] 10@&
reissued at Rs.5 share as fully paid. What is the :- ds ¼leewY; ij tkjh½] 300
amount to be transferred to capital reserve bDoVh ‘ks;j tCr dj fy;sA ;s
A/c? ‘ks;j] [Link] Hkqxrku ekus tkus ij]
a) Rs. 300
5@& : izfr ‘ks;j dh nj ls iqu%
b) Rs. 500 tkjh fd;s x;sA dSfiVy fjtoZ
c) Rs. 600 [kkrs esa varfjr dh tkus okyh
d) Rs. 800 jkf’k D;k gksxh\
a) 300@& :-
b) 500@& :-
c) 600@& :-
d) 800@& :-
8. Accounting for amalgamation is governed by lekesyu gsrq ys[kkdj.k dks
_____ fdlds }kjk fu;af=r fd;k tkrk
a) AS 1 gS\
b) AS 14 a) AS 1
c) AS 13
b) AS 14
d) AS 11
c) AS 13
d) AS 11
9. X&Y are partners in the business sharing X vkSj Y O;kikj es lk>snkj gS
Profit & Loss in the ration 3:2. They admitted vkSj 3%2 ds vuqikr esa ykHk o
Z as a new partner with 1/5th share in the gkfu lk>k djrs gSaA mUgkasusa u,
profit. Calculate the new profit sharing ratio of
the partners?
lk>snkj ds :Ik esa Z dks ‘kkfey
a) 12 : 8 : 5 fd;k ftldk ykHk esa 1@5oka
b) 12 : 8 : 6 fgLlk gksxkA lk>snkjksa ds u,
c) 12 : 7 : 6 ykHk vuqikr dh [Link] dhft,\
d) 12 : 3 : 7 a) [Link]
b) [Link]
c) [Link]
d) [Link]
10. Financial statements differ from management foRrh; fooj.k] izca/ku [kkrs ls
account because – fHkUu gS D;ksafd &
a) They are mainly prepared for external a) D;ksafd os eq[;r% foRrh;
 users of financial information tkudkjh ds ckg~;
b) They are more complex and hard to mi;ksxdrkZvksa ds fy,
prepare rS;kj fd;s tkrs gS
c) They are the summary of accounting b) os vf/kd tfVy gksrh gSa
data vkSj rS;kj djuk dfBu
d) They are prepared on the basis of gksrk gS
actual concept
c) os ys[kkdj.k MkVk dk
lkjka’k gksrk gS
d) mUgsa okLrfod vo/[Link] ds
vk/kkj ij rS;kj fd;k
tkrk gS
11. The relationship between two financial nks foRrh; ifjorhZ dkjdksa ds
variables can be expressed in : ijLij laaca/k dks dSls vfHkO;Dr
a) Pure ratio fd;k tk ldrk gS\
b) Percentage a) ‘kq) vuqikr
c) Rate or time b) izfr'kr
d) All of the above c) nj ;k le;
d) mi;qZDRk lHkh
12. Which one of the following will lead the fuEufyf[kr esa ls fdlls ‘kq)
understatement of net profit? ykHk dk U;wu dFku gksxk\
a) Transfer of General Reserve a) lkekU; fjtoZ dk varj.k
b) Treating capital expenditure as b) iwathxr O;; dh jktLo
revenue expenditure O;; ekuuk
c) Amortization of fictitious asset c) dkYifud vkfLr dk
d) Treating revenue expenditure as
capital expenditure
vikdj.k
d) jktLo O;; dks iwathxr
O;; ekuuk
13. Rajat Ltd. has taken a loan of USD 20,000 on jtr fyfeVsM us ,d fof’k”V
01.04.2017 for a specific project at an interest ifj;kstuk ds fy, 01-04-2017
rate of 2.5% p. a payable annually. On dks 2.5% okf”kZd ns; C;kt ij
01.04.2017, the exchange rate between the
currencies was Rs.55 per USD. The exchange
USD 20]000@& dk _.k fy;kA
rate as on 31.3.2018 was Rs.49 per USD. The 01-04-2017 dks fofue; nj
corresponding amount was borrowed by the 55@& :- izfr USD FkhA 01-04-
company in local currency at an interest rate of 2018 dks fofue; nj 49@& :-
5% as on 01.04.2017. What will be the izfr USD FkhA daiuh }kjk 01-
increase/decrease in the liability towards the 04-2017 dks 5% dh C;kt nj
principal amount? ij LFkkuh; eqnzk esa rRleku
a) Increase by Rs. 24,500/-
jkf’k m/kkj yhA ewy/ku dh ns;rk
b) Decrease by Rs. 24,500/- ds fy;s D;k o`f)@deh gksxh\
c) Decrease by Rs. 1,20,000/- a) 24]000@& :- dh o`f)
d) Increase by Rs. 1,20,000/- b) 24]500@& :- dh deh
c) 1]20]000@& :- dh deh
d) 1]20]000@& :- dh o`f)
14. A motor car of the value of Rs.15 lakhs was ,d Mhyj us ,d xzkgd dks
sold by a dealer to a customer in April, 2021. vizSy] 2021 esa 15 yk[k :-
Rs. 9 lakhs was received in cash and the dher dh ,d eksVj dkj csphA
balance by account payee cheque. Which of 9 yk[k : udn fy;s vkSj
the following statements is correct? vdkmaV esa is;h psd }kjk cdk;k
jkf’k izkIr dhA fuEukafdr esa ls
a) Tax @ 1% has to be collected on Rs.
dkSu lk dFku lgh gS\
 15 lakhs. a) 15 yk[k :- ij 1% dh
b) Tax @ 1% has to be collected on Rs. 9 nj ls dj
lakhs only.
b) 9 yk[k :- ij 1% dh nj
c) Tax @ 1% has to be collected on Rs. 6
lakhs only.
ls dj
d) No tax collection at source is required c) dsoy 6 yk[k :- ij 1%
in this case, since the amount received dh nj ls dj
in cash does not exceed Rs. 10 lakhs. d) bl ekeysa esa lzksr ij dj
laxzg.k dh vko’;drk ugha
gS] D;ksafd udn esa izkIr
jkf’k 10 yk[k :- ls
vf/kd ugha gS
15. NMC Ltd. manufactures cotton trousers and NMC fyfeVsM lwrh VªkÅtj cukrh
exports the products to various countries. The gS vkSj fofHkUu ns’kksa esa mRikn
company has valued its inventory of finished fu;kZr djrh gSA daiuh us rS;kj
goods at realizable value, inclusive of profit eky dh bl laifr lwph dh
and export cash incentives. The ownership of
dher dks ykHk ,oa fu;kZr udn
these goods is yet to be passed to the buyers. Is
the valuation method adopted by the company,
izksRlkgu lfgr olwyuh; ewY;
correct? If it is not correct, how should the ij yxk;kA bl eky ds Lokeh
closing inventory be valued? dks vHkh dszrk dks fHktokuk gSA
a) Yes, the policy adopted for valuing the D;k daiuh }kjk viuk;k x;k
closing inventory is correct. ewY;kadu rjhdk lgh gS\ ;fn
b) No, the closing inventory should be lgh ugha gS rks vfUre laifr
valued at net realizable value, lwph dk ewY; fdl izdkj gksuk
however, export incentives should be pkfg,\
recorded at the time of export. a) gka] vafre laifr lwph ds
c) No, the closing inventory should be ewY; fu/kkZj.k ds fy,
valued at lower of cost or net viuk;h xbZ ikWfylh lgh
realizable value and export incentives gS
should be recorded at the time of
b) ugha] ‘kq) olwyuh; ewY;
export.
d) No, the closing inventory should be ij vafre laifr lwph dk
valued at lower of cost or net ewY; fu/kkZj.k djuk pkfg,
realizable value and export incentives rFkkfi fu;kZr izksRlkgu dks
should also be recorded at the time of fu;kZr ds le; fjdkMZ
valuation of closing inventory. djuk pkfg,
c) ugha] U;wure ewY; ij
vFkok ‘kq) olwyuh; ewY;
ij vafre laifr lwph dk
ewY; gksuk pkfg, vkSj
fu;kZr izksRlkgu dks fu;kZr
ds le; ntZ fd;k tkuk
pkfg,
d) ugha] vafre laifr lwph dk
ewY; fu/kkZj.k U;wure ewY;
ij vFkok ‘kq) olwyuh;
ewY; ij gksuk pkfg, vkSj
fu;kZr izksRlkgu Hkh vafre
laifr;ksa lwph ds ewY;kadu
ds le; ntZ fd;k tkuk
pkfg,
16. A non-cancellable lease cannot be cancelled ,d xSj&fujLrh; iV~Vk dks fujLr
a) Upon the occurrence of any ugha fd;k tk ldrk gS
contingency. a) vkdfLedrk ds vkus ij
b) With the permission of the lessor. b) iV~Vknkrk dh vuqefr ls
c) On the request of the lessee upon c) iV~Vk/kkjh ds vuqjks/k ij
payment of an additional amount. vfrfjDr jkf’k ds Hkqxrku
d) If the lessee enters into a new lease for
different asset with the same lessor.
ds ckn
d) ;fn iV~Vk/kkjh mlh
iV~Vknkrk ls nwljh vkfLr
ds fy, u;k iV~Vk djrk gS
17. Abhishek Constructions undertook a vfHk”ksd dkWUlVªDlal us 22-12-
construction contract of a dam for Rs. 200 2017 dks ,d cka/k ds fuekZ.k
crores on 22.12.2017. On 22.02.2018, the ds fy, 200 djksM :- esa lafonk
company found that it had already spent Rs. yh gSA 22-02-2018 dks daiuh
175 crores on the construction. A prudent dks ;g irk pyrk gS fd mlus
estimate of additional cost for completion was vHkh rd fuekZ.k ij igys gh
Rs. 37 lakhs. When should the company
recognize the provision of expected loss?
175 djksM+ :- [kpZ dj fn;k gSA
fuekZ.k iwjk djus ds fy,
a) The company will recognize the vfrfjDr ewY; dk ,d
expected loss at the time of conclusion foosdhvuqekur% 37 yk[k :-
of contract. FkkA daiuh dks vuqekfur gkfu ds
b) The company will recognize the izko/kku dks dc ls ekuuk
expected loss for the year ended on pkfg,\
31.3.2018. a) daiuh lafonk dh lekfIr
c) The company will not recognize the ds le; vuqekfur gkfu
expected loss. dks ekusxh
d) The company will proportionately b) 31-03-2018 dks lekIr
recognize the expected loss when the Ok”kZ ij daiuh vuqekfur
loss becomes probable and balance gkfu dks ekusxh
shall be recognized at the time of
c) daiuh vuqekfur gkfu dks
conclusion of contract.
ugha ekusxh
d) gkfu laHkkor gksus ij
daiuh vuqekfur gkfu dks
;Fkkuqikr Lohdkj djsxh
vkSj lafonk dh lekfIr ds
le; cdk;k Lohdkj fd;k
tk,xk
18. A foreign currency transaction should be ,d fons’kh eqnzk laO;ogkj dks
recorded in the reporting currency using fjiksZfVax eqnzk vkSj fons’kh eqnzk ds
exchange rate between the reporting currency e/; fofue; nj dk iz;ksx djrs
and the foreign currency gq, fjiksfVZax eqnzk esa ntZ fd;k
tkuk pkfg,A
a) At the date of settlement a) le>kSrs dh frfFk ij
b) At the last date of the month of
b) laO;ogkj ds ekg dh
transaction
c) At the date of transaction vafre frfFk ij
d) None of the above c) laO;ogkj dh frfFk ij
d) mijksDr esa ls dksbZ ugha
19. As per AS-11, the process of converting AS-11 ds vuqlkj] fons’kh&lgk;d
foreign-subsidiary financial statements into the foRrh; fooj.k dh ?kjsyw eqnzk esa
home currency is known as:- cnyus dh izfdz;k dks tkuk tkrk
 a) Consolidation gS%&
b) Translation a) lesdu
c) Transmission b) vuqokn
d) Reconstruction c) lapj.k
d) iqufuZekZ.k
20. X has closing stock which cost Rs. 38,750/-. X ds ikl 38]750@& :- ewY;
This includes some damaged items which cost dk vafre LVkWd gSA blesa
Rs. 3660/-. It will cost ‘X’ Rs. 450/- to repair {kfrxzLr oLrq,as Hkh ‘kkfey gS
these damaged items. He will be able to sell ftudk ewY; 3]660@& :- gSA
them for Rs. 1500/- after the repairs are
bu {kfrxzLr oLrqvksa dh ejEer
completed. What is the correct value of closing
stock? ds fy, X dks 450@& :- pqdkusa
gksaxsA ejEer gksus ds ckn og
a) Rs. 38,750/- bls 1]500@& :- esa csap ik;sxkA
b) Rs. 36,590/- can LVkWd dk lgh ewY; D;k gS\
c) Rs. 36,140/- a) 38]750@& :-
d) Rs. 36,000/- b) 36]590@& :-
c) 36]140@& :-
d) 36]000@& :-
21. Advance received from a customer is not taken fdlh xzkgd ls izkIr vfxze vk;
as income or sale. State the accounting concept ;k fcdzh ugha ekuh tkrh gSA ;gka
/convention involved dkSu lk ys[kk fl)kar @ifjikVh
ykxw gksxk
a) Revenue recognition concept a) jktLo ekU;rk vo/[Link]
b) Money Measurement Concept b) /ku vkdyu fl)kar
c) Conservatism Concept
c) laj{k.k dk fl)kar
d) None of the above
d) mijksDr esa ls dksbZ ugha
22. Following the physical stock taking, the value izR;{k LVkWd dks ns[krs gq, dqy
of total stock is Rs. 1,22,357/-. The auditors LVkWd dk ewY; 1]22]357@& :
found the following additional information: gSA ys[kk ijh{kd us fuEukafdr
(i) 370 units of stock which cost Rs. 0.04 vfrfjDr lwpuk gkfly dh%&
per unit have been valued @Rs. 4.00 (i) LVkWd dh 370 ;wfuV
each ftldh ykxr 0-04 :-
(ii) The stock value including damaged
goods at their original cost of Rs.
izfr ;wfuV gS] izfr ;wfuV
2885/-. These goods could be sold for 4-00@& :- dh nj ls
Rs. 3600/- after incurring repairing ewY;kafdr dh xbZ
cost of Rs. 921/-. The correct value of (ii) {kfrxzLr eky ds lkFk
year end stock is: LVkWd ewY;] ewy ykxr ij
a) Rs. 1,20,877/- 2]885@& dk gSA 921@&
b) Rs. 1,20,671/- :- dh ejEer dh dher
c) Rs. 1,20,819/- gVkus ds ckn ;s 3]600@&
d) Rs. 1,20,000/- :- ij csps tk ldrs FksaA
o”kZ var ds LVkWd dk
lVhd ewY; gksxk&
a) 1]20]877@& :-
b) 1]20]671@& :-
c) 1]20]819@& :-
d) 1]20]000@& :-
23. Kushal Ltd. is a trading company from Jalna in dq'ky fyfeVsM tkyuk] egkjk”Vª
Maharashtra, and is in the business of dh ,d O;olkf;d daiuh gSA ;g
purchasing turbo machines and selling in VcksZ e’khu [kjhnrh gS vkSj mls
 Madhya Pradesh, Mizoram and Meghalaya. e/; izns’k] fetksje ,oa es?kky;
The company has incurred IGST on supply to esa cspus dk O;kikj djrh gSA
other states. The business units purchasing daiuh us nwljs jkT;ksa dks vkiwfrZ
these machines are eligible to claim credit for ij IGST dj fn;kA bu e’khuksa
this IGST. Also, Kushal Ltd. claims inputs tax
dh [kjhnus okyh O;kikfjd
credit for taxes paid on inward supplies. It also
pays sales commission to its agents in those bdkb;k¡ bl IGST ds fy, dzsfMV
states to promote sales and is required to incur dk nkok dj ldrh gSA dq’ky
handling cost as well. Which of the following vkarfjd vkiwfrZ;ksa ij vnk fd,
will be included in its cost of inventory? x, dj ij dj&dszfMV dk Hkh
nkok djrh gSA mu jkT;kas es
a) GST, Handling costs and sales fcdzh c<kus ds fy, ;g vius
commission ,tsaVksa dks fcdzh deh’ku Hkh nsrh
b) GST gS vkSj lkFk gh eky&<qykbZ dk
c) Handling Costs [kpZ Hkh mBkrh gSA bl dh
d) GST and Handling Cost leku&lwph dh ykxr es
fuEufyf[kr esa D;k&D;k ‘kkfey
gksxk\
a) GST, eky&<qykbZ ykxr
,oa fcdzh deh’ku
b) GST
c) eky&<qykbZ ykxr
d) GST ,oa eky&<qykbZ ykxr
24. The calculation of the income recognized in 5 o”kZ dh fuekZ.k lafonk ds
the third year of a 5-year construction contract rhljs o”kZ esa ekuh xbZ vk; ds
accounted for using the percentage-of- ifjdyu gsrq lekiu dh
completion method includes the ratio of: izfr’krrk i)fr dk bLrseky
a) Costs incurred in Year 3 to total fd;k tkrk gSA blesa fuEukafdr
billings esa ls dkSu lk vuqikr ‘kkfey
b) Costs incurred in Year 3 to total
estimated costs
gksrk gS%&
a) rhu lky dh ykxr vkSj
c) Total cost incurred till the end of Year
3 to total billings dqy fcfyax dk vuqikr
d) Total costs incurred till the end of b) rhu lky dh ykxr vkSj
Year 3 to total estimated costs dqy vuqekfur ykxr dk
vuqikr
c) rhljs lky ds var rd
[kpZ gqbZ dqy ykxr rFkk
dqy fcfYkax dk vuqikr
d) rhljs lky ds var rd
[kpZ gqbZ dqy ykxr rFkk
dqy vuqekfur ykxr dk
vuqikr
25. Firm A is planning to acquire Firm B. If Firm QeZ A, QeZ B dks vftZr djus
A prefers to make a cash offer for the merger it dh ;kstuk cuk jgh gSA ;fn QeZ
indicates that:
A foy; ds fy, uxn izLrko
a) Firm A's managers are optimistic
about the post merger value of A
dk fodYi pqurh gS rks ;g ladsr
b) Firm A's managers are pessimistic djrk gS fd%&
about the post merger value of A a) QeZ A ds izca/kd foy;
c) Firm A's managers are neutral about ds i’pkr A ds ewY; ds
the post merger value of A fo”k; esa ldkjkRed gS
d) None of the above
 b) QeZ A ds izca/kd foy;
ds i’pkr A ds ewY; ds
fo”k; esa udkjkRed gS
c) QeZ A ds izca/kd foy;
ds i’pkr A ds ewY; ds
fo”k; esa fujis{k gS
d) mijksDr esa ls dksbZ ugha
26. Shares of P Ltd. and Q Ltd. are currently P fyfeVsM ,oa Q fyfeVsM ds
traded at Rs. 100 and Rs. 25 respectively. The ‘ks;j bl le; dze’k% 100@&
share swap ratio based on market price would :- ,oa 25@& :- esa VªsM fd, tk
be jgh gSA cktkj ewY; ij vk/kkfjr
‘ks;j LoSi vuqikr D;k gksxk\
a) 1 share for every 4 share
a) izfr 4 ‘ks;j ds fy, 1
b) 4 share for every 1 share
c) 1 share for every 8 share ‘ks;j
d) 8 share for every 1 share b) izfr 1 ‘ks;j ds fy, 4
‘ks;j
c) izfr 8 ‘ks;j ds fy, 1
‘ks;j
d) izfr 1 ‘ks;j ds fy, 8
‘ks;j
27. Which of the following statement is correct? fuEufyf[kr esa ls dkSu lk dFku
a) Goodwill = Net Assets – Purchase lgh gS\
price a) xqMfoy = dqy
b) The face value of shares of purchasing vkfLr;kWa&dz; dher
company will be taken in to account
b) dz; izfrQy dk fglkc
while calculating purchase
consideration.
yxkrs le; [kjhnus okyh
c) The amount of Goodwill or Capital daiuh ds ‘ks;jksa dk vafdr
Reserve is recorded in the books of ewY; /;ku esa j[kk tk,xk
Vendor Company only. c) xqMfoy ;k iwath lap; dh
d) The amount of Goodwill or Capital jde osaMj dh cgh esa gh
Reserve is recorded in the books of ntZ gksxh
purchasing company only d) xqMfoy ;k iwath lap; dh
jde [kjhn djus okyh
daiuh dh cgh esa gh ntZ
gksxh
28. Read the following propositions carefully: fuEufyf[kr dFkuksa dks /;ku ls
(i) In case of amalgamation in the nature i<sa%&
of merger, difference between the (i) foy; ds le; ,dhdj.k
purchase consideration and net assets ds ekeysa esa dz; izfrQy
taken over is treated as goodwill or ,oa dqy vkfLr;ksa ds ewY;
capital reserve. esa varj dks xqMfoy ;k
(ii) In case of amalgamation in the nature
of purchase, difference between the
iwath lap; dgsaxs
(ii) foy; ds le; ,dhdj.k
purchase consideration and net assets
taken over is adjusted in general ds ekeysa esa dz; izfrQy
reserves or other reserves. ,oa dqy vkfLr;ksa ds ewY;
Which of the above statements are true? lkekU; fjtoZ ;k vU;
fjtoZ cSad esa lek;ksftr
a) Only (i) is true fd;k tk,xk
b) Only (ii) is true mijksDr esa ls dkSu lk dFku
c) Both (i) and (ii) are true lR; gS\
 d) Both (i) and (ii) are false. a) dsoy (i) lR; gS
b) dsoy (ii) lR; gS
c) (i) ,oa (ii) nksuksa lR; gSa
d) (i) ,oa (ii) nksuksa vlR; gSa
29. H Ltd agrees to absorb J Ltd with itself. The H fyfeVsM vius lkFk J fyfeVsM
consideration for the transaction is (i) Payment dks vkesfyr djus ij lger
of Rs. 10 cash per share for shareholders of J gksrk gSA bl laO;ogkj dk
Ltd, (ii) Issuance of 2 shares of Rs. 10 each of
H Ltd for every 10 shares of J Ltd. J Ltd
izfrQy gS (i) J fyfeVsM ds ‘ks;j
currently has 1 lakh equity shares of Rs. 10 /kkjdksa ds fy, izfr ‘ks;j 10@&
each with aggregate paid-up capital of Rs. 10 :- udn Hkqxrku (ii) J fyfeVsM
lakhs. What is the Purchase Consideration as ds izR;sd 10 ‘ks;j ds fy, H
per AS-14 prescribed by ICAI? fyfeVsM dk 10@& :- izfr’ks;j
dh nj ls 2 ‘ks;j tkjh djukA
a) Rs. Nil orZeku esa J fyfeVsM ds ikl
b) Rs. 2,00,000
c) Rs. 10,00,000
10 yk[k :- dh ldy leknÙk
d) Rs. 12,00,000 iwath ds lkFk 10@& : izfr ‘ks;j
dh nj ls 1 yk[k bfDOkV ‘ks;j
gSA Hkkjrh; pkVZM ,dkmaVsaV laLFkku
}kjk fofgr AS-14 ds vuqlkj]
dz; izfrQy D;k gS\
a) ‘kwU;
b) 2]00]000@& :-
c) 10]00]000@& :-
d) 12]00]000@& :-
30. C Ltd and D Ltd are two different companies C fyfeVsM ,oa D fyfeVsM nks
carrying on same business. The paid-up capital vyx&vyx daifu;k gS tks ,d
of C Ltd is Rs. 1,00,000/- while that of D Ltd
gh O;olk; djrh gSA C fyfeVsM
is Rs. 2,00,000/- (sub-divided into equity
shares of Rs. 10 each). Both the companies
dh iznÙk iwath 1]00]000@& :-
decide to amalgamate into CD Ltd. While the gS tcfd D fyfeVsM dh
shares of C Ltd are valued at Rs. 12 per share, 2]00]000@& :- gS ¼10@& :-
the shares of D Ltd are valued at Rs. 15 per izfr bfDoVh ‘ks;jksa es izfoHkkftr
share. What is the purchase consideration for gS½ nksuksa daifu;k CD fyfeVsM esa
the purpose of amalgamation? foy;u djus dk [Link]; ysrh gSA
tgka C fyfeVsM izfr ‘ks;j ewY;
a) Rs. 3,00,000
b) Rs. 3,20,000 12@& :- gS ogh D fyfeVsM dk
c) Rs. 4,00,000 izfr ‘ks;j ewY; 15@& : gSA
d) Rs. 4,20,000 foy;u ds iz;kstu ls dz;
izfrQy D;k gksxk\
a) 3]00]000@& :-
b) 3]20]000@& :-
c) 4]00]000@& :-
d) 4]20]000@& :-
31. X Ltd acquires the business of Y Ltd. On the Y fyfeVsM ds O;olk; dk X
date of absorption, Y Ltd owes Rs. 1,000 to X fyfeVsM vtZu dj ysrh gSA
Ltd on account of past purchases. X Ltd passes
foy;u dh frfFk dks] Y fyfeVsM
the following entry in its books:
fiNys [kjhnnkjh ds dkj.k X
Sundry Creditors A/c Dr. 1,000 fyfeVsM dk 1]000@& :- dk
To Sundry Debtors A/c 1,000 m/kkj gSa X fyfeVsM vius cgh
 Which of the following are correct? [kkrs es fuEufyf[kr izfof”V djrk
gS%
a) The above journal entry is required to
be passed. fofo/k dzsfMVlZ [kkrk MsfcV
b) No journal entry is required for this 1]000
purpose. fofo/k MsVlZ [kkrk 1]000
c) Sundry Debtors a/c needs to be debited
and Sundry Creditors a/c needs to be
credited. fuEufyf[kr esa ls dkSu lgh gS\
d) The Realization account should be a) mi;qZDr tuZy izfof”V ikl
debited and Reserves account should fd, tkus dh t:jr gS
be credited. b) bl iz;kstu ds fy, tuZy
izfof”V dh dksbZ t:jr
ugha gS
c) fofo/k MsVLkZ [kkrk dks MsfcV
fd, tkus dh vko’;drk
gS vkSj fofo/k MsVlZ [kkrk
dks dzsfMV fd, tkus dh
vko’;drk gS
d) olwyh [kkrk dks MsfcV
fd;k tkuk pkfg, vkSj
vkjf{kr [kkrk dks dszfMV
fd;k tkuk pkfg,

32. X Ltd has taken over Y Ltd. The book value of X fyfeVsM us Y fyfeVsM dks Vsd
assets is Rs.100, while the market value is Rs. vksoj dj fy;k gSA ifjlaifr;ksa
110/. The statutory rate prescribed by dk cgh ewY; 100@& :- gS
regulatory authority is Rs. 115/-. Under the tcfd ekdsZV ewY; 110@& :-
Pooling of Interests method, at what value will
gSA fofu;ked izkf/kdkjh }kjk
these assets be recorded in the books of X Ltd?
Assume NIL liabilities.
fu/kkZfjr oS/kkfud nj 115@& :-
gSA iwfyax vkWQ baVjsLV esFkkWM ds
a) Rs. 100 varxZr X fyfeVsM dh cfg;ksa esa
b) Rs. 110 bu ifjlaifr;ksa dk D;k ewY;
c) Rs. 115 fjdkMZ fd;k tk,xk\ ns;rk dks
d) Average of all 3 rates ‘kwU; ekuk tk,A
a) 100@& :-
b) 110@& :-
c) 115@& :-
d) lHkh rhuksa nj dh vkSlr
nj
33. Certain factors which may be considered in lekesyu ij mikftZr lk[k dh
estimating the useful life of goodwill arising mi;ksxh thou dky dk vanktk
on amalgamation are listed below: yxkusa esa le>s tkus okys
(i) the foreseeable life of the business or dfri; dkjd uhps fn;s x;s gSa
industry &&&
(ii) the effects of product obsolescence,
(i) fdlh O;kikj vFkok m|ksx
changes in demand and other
economic factors
dk iwoZdfYir thou dky
(ii) mRikn ds vizpyu ls
(iii) the service life expectancies of key
individuals or groups of employees mRiUu izHkko] ekax es
(iv) expected actions by competitors or ifjorZu ;k vU; vkfFkZd
potential competitors dkjd
 (v) legal, regulatory or contractual (iii) eq[; O;fDr;ksa vFkok
provisions affecting the useful life dkfeZd lewgksa dk lfoZl
thou dky dh izR;k’kk
Which of the above factors are relevant for this (iv) izfrLi/kkZ vFkok laHkkfor
purpose? izfrLi/khZ }kjk izR;kf’kr
dkjZokbZ
a) (i), (ii), (iv)
(v) mi;ksxh thou&dky dks
b) (i), (ii), (v)
c) (i), (ii), (iv), (v) izHkkfor djus okys] fof/kd
d) (i), (ii), (iii), (iv), (v) fofu;ked vFkok
lafonkRed izko/kku
mijksDr esa ls dkSu ls dkjd
bl mns’; ds fy, izkflax gS
a) (i), (ii), (iv)
b) (i), (ii), (v)
c) (i), (ii), (iv), (v)
d) (i), (ii), (iii), (iv), (v)
34. F Ltd agrees to absorb G Ltd, with the F fyfeVsM] G fyfeVsM dks
consideration fixed as follows: vkesfyr djus ds fy, lger
(i) Assumption of trade liabilities of Rs. gksrk gS%
10,000/- (i) 10]000@& :- ds O;kikj
(ii) Payment of liquidation costs of Rs.
ns;rkvksa dk vuqeku
1,000/-
(ii) 1]000@& :- ds
(iii) Issuance of equity shares of F Ltd
valued at Rs. 2,00,000/- to ifjlekiu ykxr dk
shareholders of G Ltd. Hkqxrku
What is the purchase consideration as per AS- (iii) G fyfeVsM ds ‘ks;j gksYMlZ
14? dsk F fyfeVsM ds
a) Rs. 2,00,000/- 2]00]000@& :- ewY; ds
b) Rs. 2,01,000/- bfDOkVh ‘ks;jksa dks tkjh
c) Rs. 2,10,000/- djuk
d) Rs. 2,11,000/-
AS 14 ds vuqlkj dz; izfrQy
D;k gS
a) 2]00]000@& :-
b) 2]01]000@& :-
c) 2]10]000@& :-
d) 2]11]000@& :-
35. In case of amalgamation, the transferor lekesyu ds ekeysa esa varj.k
company has to wind up its business and djus okyh daiuh dks viuk
hence, it will dispose off its assets, pay its O;kikj can djuk gS vkSj blfy;sa
liabilities and distribute the surplus if any viuh vkfLr;ksa dk fodz; djuk
among its shareholders. It is done through gS] viuh ns;rkvksa dk Hkqxrku
opening a new account known as djrh gS vf/kHkkj dks ;fn dksbZ
____________.
gS] vius ‘ks;j /kkjdksa esa ckaV
a) Goodwill Account nsrh gSA ;g lc dqN ,d u;k
b) Capital Reserves Account [kkrk [kksydj fd;k tkrk gSA bl
c) Realisation Account u;s [kkrs dks D;k dgk tkrk
d) General Reserved Account gS&&&&
a) xqMfoy [kkrk
b) vkjf{kr iwath [kkrk
c) clwyh [kkrk
d) lkekU; vkjf{kr [kkrk
36. A company “B Ltd” is having huge dksbZ ^^ B fyfeVsM** daiuh dks
accumulated losses and book values of assets cMs iSekus ij lafpr gkfu gqbZ gS
are not shown at their true value. The company rFkk ifjlaifr;ksa dk cgh ewY;
decides to reorganize itself and start afresh. mlds okLrfod ewY; esa ugha
Accordingly, a new company “New B Ltd” is
fn[kk;k x;k gSA daiuh Lo;a dks
formed in order to take over the business of “B
Ltd”. This is an example of:
iquxZBu dk [Link]; ysrh gS ,oa
u;s fljs ls izkjaHk djrh gSA
a) Strategic Alliance rnuqlkj ^^ B fyfeVsM** ds O;kikj
b) Spin off dks Vsd vksoj djus ds fy, u,
c) Internal Reconstruction daiuh ^^U;w B fyfeVsM** cukbZ
d) External Reconstruction tkrh gSA ;g mnkgj.k gksxk&
a) LVªSVsftd vyk;Ul
b) fLiu vkWQ
c) vkarfjd iquZxBu
d) ckg; iquZxBu
37. Which of the following are true? fuEufyf[kr esa ls dkSu ls dFku
(i) A new company is formed in the case lR; gS\
of amalgamation in the nature of (i) lfEeJ.k izd`fr ds
merger foy;hdj.k ekeys esa ,d
(ii) The term “assets taken over by a ubZ daiuh dk xBu fd;k
Transferee company” shall not include tkrk gSA
any fictitious assets.
(ii) ^^varfjrh daiuh }kjk
a) Only (i) vf/kdkj esa yh xbZ
b) Only (ii) vkfLr** ds vFkZ esa dksbZ
c) Both (i) & (ii) dkYifud vkfLr lfEEkfyr
d) Neither (i) nor (ii) ugha gksxhA
a) dsoy (i)
b) dsoy (ii)
c) (i) vkSj (ii) nksuksa
d) u (i) vkSj u (ii)
38. A shareholder is holding 30 shares in B Ltd, ,d ‘ks;j/kkjd ds ^B* fyfeVsM es
which is getting amalgamated with C Ltd. C 30 ‘ks;j gSa] tks ^C* fyfeVsM ds
Ltd is issuing 1 share for every 8 shares held
by shareholders in B Ltd. What is the most lkFk foy; gksus tk jgh gSA ^C*
probabilistic scenario as regards to what this fyfeVsM ^B* fyfeVsM ds
shareholder will get? ‘ks;j/kkjdksa ds izR;sd 8 ‘ks;j ds
fy, 1 ‘ks;j tkjh dj jgh gSA
a) Shareholder has to buy more shares to bl ‘ks;j/kkjd dks D;k feysxk ds
make it a multiple of 8 laca/k esa lcls laHkkfor fLFkfr
b) Shareholder has to sell some shares to D;k gS\
make it a multiple of 8 a) ‘ks;j/kkjd dks bls 8 xquk
c) 3¾ shares cukus ds fy, vksj ‘ks;j
d) 3 shares and cash equivalent for [kjhnus gksaxsA
fractional shares
b) ‘ks;j/kkjd dks bls 8 xquk
cukus ds fy, dqN ‘ks;j
cspus gksaxs
c) 3¾ ‘ks;j
d) 3 ‘ks;j vkSj izHkktu va’k
‘ks;j ds fy, cjkcj udn
jkf’k
39. AB Ltd holding 30 shares from XY Ltd for ₹ ^AB fyfeVsM us ^XY* fyfeVsM
4,50,000/-. AB Ltd immediately paid ₹ ls :0 4]50]000@& esa ,d
90,000/- by Bank Draft and the balance by
e’khujh [kjhnh ^AB* fyfeVsM
issue of preference share of ₹ 100/- each at
20% premium for the purchase consideration ^XY* fyfeVsM dks e’khujh [kjhn
of Machinery to XY Ltd. Shares issued by AB ds fy, :0 90]000@& dk cSad
Ltd? Mªk¶V }kjk rqjar Hkqxrku dj fn;k
a) 3,000 preference shares rFkk ‘ks”k ds fy, 20% izhfe;e
b) 30,000 preference shares ij izR;sd :0 100@& ds
c) 3,600 preference shares vf/kekuh ‘ks;j tkjh djds ^XY*
d) 36,000 preference shares fyfeVsM dks Hkqxrku dj fn;kA
a) 3000 vf/kekuh ‘ks;j
b) 30]000 vf/kekuh ‘ks;j
c) 3]600 vf/kekuh ‘ks;j
d) 36]000 vf/kekuh ‘ks;j
40. Board of directors has to give at least _______ funs'kd cksMZ }kjk ‘ks;j dkWy /ku
days notice to the defaulting members for the ds Hkqxrku esa pwddrkZ lnL; dks
payment of the share call money: de ls de ______ fnu dk
a) 19 days uksfVl nsuk gksxk%
b) 10 days
a) 19 fnu
c) 14 days
b) 10 fnu
d) 16 days
c) 14 fnu
d) 16 fnu
41. Which of the following is/are the advantage/s Ø; }kjk okil ysus ds
of buy-back? fuEufyf[kr esa ls D;k@dkSu ls
a) Free reserves which are utilized for Qk;ns gSa\
buy-back instead of dividend enhance a) ykHkka’k dh ctk; Ø; }kjk
the value of the company’s shares and ckbZ&cSd ds fy, iz;qDr dh
improve earnings per share xbZ [kqyh vkjf{kfr;ks ls
b) Surplus cash may be utilized by the
company for buy-back and avoid the
daiuh gS ‘ks;j esa o`f)
payment of dividend tax gksrh gSa vkSj izfr ‘ks;j
c) Buy-back may be used as a weapon to vkenuh esa lq/kkj gksrk gS
frustrate any hostile take-over of the b) daiuh }kjk vfrfjDr
company by undesirable persons ¼ljIyl½ udnh dk mi;ksx
d) All of the above ckbZ&cSd ds fy;s fd;k tk
ldrk gS vkSj ykHkka’k dj
ds Hkqxrku ls cpk tk
ldrk gSA
c) fdlh vokafNr O;fDr }kjk
daiuh dk ‘k=qrk iwoZd Vsd
vksoj djus dks foQy
djus ds fy;s gfFk;kj ds
:Ik esa iz;ksx fd;k tk
ldrk gSA
d) mi;qZDr lHkh
42. Premium on redemption of redeemable ekspu ;ksX; vf/kekuh ‘ks;jksa ds
preference shares can be paid out of? ekspu ij izhfe;e dks fdl ls
a) Capital Redemption Reserve account vnk fd;k tk ldrk gS\
b) Existing shares premium account a) iwath ekspu vkjf{kr [kkrs
c) Proceed of fresh issue of shares esa lsA
d) All of the above
b) ekStwnk ‘ks;j izhfe;e [kkrs
 esa lsA
c) ‘ks;jksa dk u;k fuxZe djus
ls
d) mi;qZDr lHkh
43. Which of the following is not a contingent fuEufyf[kr esa ls dkSu lk ,d
liability? vkdfLed nkf;Ro ugha gS\
a) vkaf'kd leknr ‘ks;j ij
a) Uncalled liability on partly paid shares vukgwr nkf;RoA
b) Claims against the company not b) _.k ds :Ik essa vHkhLohd`r
acknowledged as debts u fd, x, daiuh ij nkos
c) Arrears of cumulative fixed dividends
c) lap;h fu;r ykHkka’k dk
d) Debts included in debtors which are
doubtful in nature cdk;k
d) lUnsgkLin izd`fr ds =qf.k;ksa
esa fufgr _.k
44. The accountant for RYK Ltd (RYK) is RYK fyfeVsM dk ys[kkdkj 31
preparing the financial report for the period fnlacj] 2016 dks lekIr vof/k
ended 31 December 2016. The accountant dh foRRkh; fjiksVZ rS;kj djrk gSA
notes that an electricity invoice for the last six ys[kkdkj uksV djrk gS fd fiNys
months' usage has not been received. Which of
Ng ekg dk fctyh miHkksx dk
the following is most correct for recognising
the liability?
fcy izkIr ugha gqvk gSA nkf;Ro
fu/kkZj.k ds fy, fuEufyf[kr esa
a) A present obligation exists and RYK ls dkSu&lk lcls lVhd gS\
should recognise a liability based on a a) ekStwnk ck/;rk gS vkSj
reliable estimate. RYK dks fo’oluh;
b) As the invoice has not yet been vuqeku ds vk/kkj ij
received, no present obligation exists nkf;Ro fu/kkZfjr djuk
so RYK cannot recognise a liability. pkfg,
c) A possible obligation exists, however b) pwafd fcy vHkh ugha feyk
it is not certain when the invoice will gS] blfy;s orZeku esa dksbZ
be received so the accountant should
ck/;rk ugha gS blfy;s
recognise a provision.
d) A present obligation exists, however RYK ds dksbZ nkf;Ro
as the amount of usage cannot be fu/kkZfjr ugha
reliably measured, the estimated costs c) laHkkfor ck/;rk gS ;|fi
can only be disclosed as a contingent ;g fuf’pr ugha fd fcy
liability. dh izkfIr dc gksxh]
blfy;s ys[kkdkj dks dksbZ
izko/kku dj ysuk pkfg,A
d) ck/;rk ekStwnk gS] ;|fi
mi;ksx jkf’k dks
fo’oluh;rk ls ugha ekih
tk ldrk vr,o
vuqekfur ykxr dks dsoy
vkdfLed ns;rk ds :Ik esa
izdV fd;k tk ldrk gSA
45. Which of the following items are included in fdlh foRRkh; daiuh ds fy,
‘Revenue from operations’ for a financial fuEufyf[kr esa ls dkSu lk en
company: ^izpkyu ls jktLo* esa ‘kkfey
1) Dividend received gS\
2) Refund of income tax
1) izkIRk ykHkka’k
3) Sales
4) Sale of scrap 2) vk;dj izfrnk;
 5) Interest earned 3)fcØh
6) Profit on sale of fixed asset 4)dckM+ dh fcØh
7) Profit on sale of investments
Select the correct code: 5)vftZr C;kt
6)LFkk;h vkfLr dh fcØh ls
a) 1, 5, 6, 7 ykHk
b) 1, 2, 6, 7 7) fuos'k dh fcØh ls ykHk
c) 1, 5, 3, 7 lgh dwV dk p;u djs%
d) 1, 2, 6, 7 *
a) 1, 5, 6, 7
b) 1, 2, 6, 7
(*Clarification: In this Q. Option d) may be
read as 1, 2, 3 ,4 rather than 1, 2, 6, 7 in both c) 1, 5, 3, 7
English and Hindi Version.) d) 1, 2, 6, 7

46. Bad debts are apportioned among departments v’kks/; _.kksa dks foHkkxksa ds chp
in the proportion of: fdl vuqikr esa izHkkftr fd;k
tk,xk%&
a) Sales of each department a) izR;sd foHkkx dk fodz;
b) Number of units sold by each b) izR;sd foHkkx }kjk csph gqbZ
department bdkbZ;ksa dh la[;k
c) Cost of sales of each department
c) izR;sd foHkkx ds fodz; dh
d) None of the above
ykxr
d) mi;qZDr esa ls dksbZ ugha
47. Pre-incorporation profits are transferred to : fuxeu iwoZ ykHk dks dgka varfjr
a) Profit & loss A/c fd;k tkrk gS%&
b) Goodwill a/c a) ykHk o gkfu [kkrk
c) Indirect Income a/c b) xqMfoy [kkrk
d) Capital Reserve a/c c) vizR;{k [kkrk
d) iwath fjtoZ [kkrk
48. When forfeited shares are re-issued the amount tc tCr fd;s x, ‘ks;jksa dks
of discount allowed on these shares cannot iqu% tkjh fd;k tkrk gS rks] bu
exceed: ‘ks;jksa ij NwV jkf’k ls vf/kd
a) 10% of called-up capital per share. ugha gks ldrh%
b) 6% of paid-up capital per share. a) izR;sd ‘ks;j dh dkWYM vi
c) The amount received per share on
forfeited shares.
iawth dk 10%
d) The unpaid amount per share on b) izR;sd ‘ks;j dh isM vi
forfeited shares. iwath dk 6%
c) tCr fd;s x, ‘ks;jksa ij
izR;sd ‘ks;j dh izkIr jkf’k
d) tCr fd;s x, ‘ks;jksa ij
izR;sd ‘ks;j dh viznRr
jkf’k
49. A shareholder to whom 9,000 shares of ₹ 10/- ,d ‘ks;j /kkjd] ftldks 10@&
per share were allotted, failed to pay first & :- izfr ‘ks;j ds fglkc ls
final call of ₹ 2/- per share. ₹ 18,000/- to be 9000 ‘ks;j vkcafVr fd, x,
recorded in the books of company with _____ Fks] 2 :- izfr ‘ks;j dh igyh o
a) Dr. to Calls-in Arrears A/c vafre dkWy dk Hkqxrku djus esa
b) Dr. to Share Forfeiture A/c
vlQy jgkA daiuh ds cgh [kkrs
c) Cr. to Calls-in Arrears A/c
d) Cr. to Share Forfeiture A/c
esa 18]000@& :- dks ntZ djk;k
tk,xk&
a) dky bu cdk;k [kkrs esa
 fudklh
b) ‘ks;j tCrh [kkrs esa
fudklh
c) ‘ks;j bu cdk;k [kkrs esa
dszfMV
d) ‘ks;j tCrh [kkrs esa dszfMV
50. Present liability of an uncertain amount, which vfuf'pr jkf’k dh orZeku ns;rk]
can be measured reliably by using a ftls izpqj vkdyu ds ek/;e ls]
substantial degree of estimation, is termed as: fo’oluh;rkiwoZd ekik tk lds]
mls D;k dgsaxs\
a) Provision a) izko/kku
b) Liability b) ns;rk
c) Contingent Liability
c) vkdfLed ns;rk,Wa
d) None of the above
d) mi;qZDr esa ls dksbZ ugha
51. 600 boxes of good are consigned at a cost of 250@& :- izR;sd dh ykxr ls
Rs. 250/- each. Consignor’s expenses lkeku ds 600 fMCcksa dks iszf”kr
amounted to Rs. 3,000/-. 5/6th of the boxes fd;k x;kA izs”kd dk [kpkZ
received by consignee are sold at Rs. 300/- 3]000@& :- gSA izsf”kfr }kjk
each. The value of goods in transit will be:- izkIr 5@6 fMCcksa dks 300@& :-
a) Rs. 25,000/-
izR;sd ds fglkc ls cspk x;kA
b) Rs. 25,500/-
c) Rs. 3,000/-
ikjxeu esa ‘ks”k lkeku dk ewY;
d) Rs. 40,000/-
D;k gksxk%&
a) 25]000@& :-
b) 25]500@& :-
c) 3]000@& :-
d) 40]000@& :-
52. Regarding depreciation, which of the ewY;gzkl ds lac/k esa]
following statement is not correct? fuEufyf[kr esa ls dkSu lk dFku
lgh ugha gS\
a) Depreciation is calculated as per a) ewY;gzkl dh [Link]] daiuh
straight line method under Company dkuwu ds varxZr lh/kh
Law. js[kk i)fr vuqlkj dh
b) Depreciation is calculated as per
W.D.V. Method under Income Tax
tkrh gS
b) ewY;gzkl dh [Link]]
Act.
c) The higher the residual value, the vk;dj ds varxZr]
higher will be the depreciation. W.D.V. i)fr ds vuqlkj
d) Depreciation is a process of allocation dh tkrh gS
of cost of fixed asset over useful life of c) vof’k”V ewY; ftruk
an asset. vf/kd gksxk] ewY;gzkl Hkh
mruk vf/kd gksxk
d) ewY; gzkl] vkfLr dh
mi;[Link] dkykof/k ij
LFkk;h vkfLr dh ykxr
fu;ru dh izfdz;k gSA
53. A and B are partners sharing profits in the A vkSj B lk>snkj gSa tks 5%3 ds
ration of 5:3. They admit C and the new profit- vuqikr esa ykHk lk>k djrs gSaA
sharing ratio is agreed at [Link]. The sacrificing
os C dks vius lkFk tksMrs gSa
ratio will be
vkSj 4%2%1 ds u, ykHk vuqikr
a) 5:3 dh lgefr curh gSA R;kx
b) 3:5 vuqikr D;k gksxk&
 c) 1:1 a) 5%3
d) 2:1 b) 3%5
c) 1%1
d) 2%1
54. P & Q entered into a joint venture. P purchased P & Q ,d la;qDr uoksn~;e izkjaHk
5000 units of goods at Rs. 30 each. Q sold Rs. djrs gSaA P us 30@& :- izR;sd
4800 units at Rs. 50 each. The remaining
dh nj ls lkeku dh 5000
goods were taken over by Q at a value of Rs.
5,000. P is allowed a commission of 2% on bZdkbZ;ka [kjhnhA Q us 50 :-
purchases and Q is allowed a commission of izR;sd dh nj ls 4800 bdkbZ;ka
1% on sales. What will be the share of Q in csp nhA cps gq, lkeku dks Q
profit in Joint venture? }kjk 5]000@& :- es ys fy;k
x;kA P dks [kjhn ij 2% dk
a) Rs. 46,300 deh’ku vuqeR; gSA la;qDr
b) Rs. 44,800
c) Rs. 46,000
uoksn~;e esa Q dk ykHk esa
d) Rs. 45,000 fdruk Hkkx gksxk\
a) 46]300@& :-
b) 44]800@& :-
c) 46]000@& :-
d) 45]000@& :-
55. About inventory valuation, which of the oLrq lwph ds ewY;kadu ds laca/k
following statement is false: esa fuEufyf[kr esa ls dkSu lk
dFku xyr gS%
a) The financial statements should a) forh; fooj.k esa oLrq lwph
disclose the total carrying amount of dh dqy jkf’k izdV gksuh
inventories pkfg,
b) The financial statements should
b) forh; fooj.k esa oLrq lwph
disclose the account policies adopted
in measuring inventories, including the dk vadu djus gsrq
cost formula used viukbZ xbZ [kkrk fufr;kWa
c) The financial statements should izdV gksuh pkfg,] mi;ksx
disclose classification of inventories fd, x, ykxr lw= lfgr
appropriate to the enterprise. c) forh; fooj.k esa m|e ds
d) The financial statements should fy, mi;qDr oLrq lwph dk
disclose the accounting policies oxhZdj.k Li”V gksuk pkfg,
adopted in measuring inventories, d) forh; fooj.k esa oLrq lwph
excluding the cost formula used. dk vadu djus gsrq
viukbZ xbZ [kkrk uhfr;kWa
izdV gksuh pkfg,] mi;ksx
fd, x, ykxr lw= dks
NksM+dj
56. The difference between Department & Branch foHkkx vkSj ‘kk[kk ds chp dk
is that varj gS%
a) Branch is part of the Department. a) ‘kk[kk] foHkkx dk ,d Hkkx
b) Department is part of the Branch. gksrh gS
c) Departments are part of the business b) foHkkx] ‘kk[kk dk ,d Hkkx
under same roof and branches at gksrk gS
difference places.
c) foHkkx] ,d gh Nr ds
d) Branches are part of the business under
same roof and Departments at uhps fdlh O;olk; dk
difference places. Hkkx gksrk gS vkSj ‘kk[kksa
fofHkUUk LFkkuksa ij gksrh gSA
d) ‘kk[kk;sa ,d Nr ds uhps
 fdlh O;olk; dk Hkkx
gksrh gS vkSj foHkkx fofHkUUk
LFkkuksa ij gksrs gSa
57. Goods are sold by the Branches: oLrqvksa dks ‘kk[kkvksa }kjk cspk
tkrk gS%
a) As per company’s policy. a) daiuh dh uhfr ds vuqlkj
b) in cash only. b) dsoy uxn esa
c) On cash & credit c) uxn vkSj m/kkj esa
d) (a) & (c)
d) (a) vkSj (c)
58. When goods are invoiced to the branch at tc ‘kk[kk dks] ykxr ls vf/kd
higher value then the cost, the adjustment of ewY; ij eky dks chtd esa
the value of closing stock is done fn[kk;k tkrk gS rks] vafre LVkWd
a) Debiting the P & L A/c. directly. dh dher esa lek;kstu fd;k
b) Debit Branch A/c. and Credit Branch tkrk gSA
Stock Reserve A/c. a) lh/ks ykHk ,oa gkfu [kkrs
c) Credit Branch Stock Reserve A/c. and
Debit Branch A/c.
dks MsfcV djds
d) None of the above.
b) ‘kk[kk [kkrs dks MsfcV djds
rFkk ‘kk[kk LVkWd fjtoZ
(Clarification: Both Options (b) & (c) are [kkrs dks ØsfMV djds
correct in this Question) c) ‘kk[kk LVkWd fjtoZ [kkrs dks
ØsfMV djds rFkk ‘kk[kk
[kkrs dks MsfcV djds
d) mijksDr esa dksbZ ugha
59. M/s. Rama International transferred the stock eSllZ jkek baVjus’kuy us ykxr
to its Branch with 50% loading on the cost ewY; ij 50% Hkkj ds lkFk
price at Rs. 1,50,000/-. The entire stock was fdlh LVkWd dks viuh ‘kk[kk esa
sold for Rs. 2,08,000/.- after incurring a branch :0 1]50]000@& esa LFkkukarfjr
expenses of Rs.16,000/-. What is the profit
fd;kA iwjs LVkWd dk foØ;] :0
earned by Branch & Head office respectively?
16]000@& ‘kk[kk O;; dks ogu
a) 92,000/- & 42,000/- djrs gq,] :0 2]08]000@& esa
b) 82,000/- & 52,000/- gqvkA ‘kk[kk vkSj eq[; dk;kZy;
c) 42,000/- & 92,000/- }kjk Øe’k% vftZr ykHk D;k gS\
d) 52,000/- & 82,000/- a) 92]000@&vkSj 42]000@&
b) 82]000@&vkSj 52]000@&
c) 42]000@&vkSj 92]000@&
d) 52]000@&vkSj 82]000@&
60. Which of the following accounting methods fuEufyf[kr esa ls dkSu&lh
are not used in Branch accounting? ys[kkdj.k [Link] dk iz;ksx ‘kk[kk
a) Stock & Debtor Method. ys[kkdj.k esa ugha fd;k tkrk gS\
b) Debtor’s Method. a) LVkWd vkSj _.kh [Link]
c) Hybrid Method. b) _.kh [Link]
d) Memorandum Branch Trading & P&L
c) gkbZfczM [Link]
A/c.
d) Kkiu ‘kk[kk VªsfMax ,oa
ykHk ,oa gkfu [kkrk
61. Separate accounts for each Department are izR;sd foHkkx ds fy, fHkUUk
necessary because: [kkrksa dh vko’;drk gS D;ksafd
a) Comparing inter Departmental results a) fofHkUUk vof/k;ksa ds
for different periods. varj&foHkkxh; [Link] ds
b) Formulating policy to expand business vkdyu ds fy,
on proper lines/strategy. b) mfpr fn’kk@[Link] ds
 c) Rewarding the Managers/employees vuqlkj O;kikj dk foLrkj
on the basis of [Link] results. djus ds fy, ikWfylh
d) All the above. fuekZ.k gsrq
c) foHkkxh; ys[kk [Link] ds
vk/kkj ij izcU/kksa@deZpkfj;ksa
dks ikfjrksf”kd nsus ds fy,
d) mijksDr lHkh
62. When goods are invoiced at cost or selling tc ‘kk[kkvksa dks oLrq,sa ykxr ;k
price to the branches, the method of foØ; ewY; ij miyC/k djk;h
accounting which is not followed is:- tkrh gS rks ys[kkdj.k dh dkSu
a) Debtors Method. lh [Link] dk vuqikyu ugha
b) Whole sale branches Method. gksrk gS%&
c) Stock & Debtors Method.
a) _.kh [Link]
d) Trading & Profit & Loss A/c. Method.
b) foØ; ‘kk[kk [Link]
c) LVkWd vkSj _.kh [Link]
d) O;kikj vkSj ykHk ,oa gkfu
ys[kk [Link]
63. Which of the following are reasons for vafre rkjh[k dks eq[;ky; dh
disagreement between Branch A/c. in Head cfg;ksa esa ‘kk[kk ys[kk rFkk ‘kk[kk
office books and Head office A/c. in Branch cfg;ksa esa eq[;ky; ys[kk ds chp
books on the closing date varj ds fy, fuEufyf[kr esa ls
a) Goods dispatched by H.O. not dkSu ls dkj.k gSA
received by the Branch. a) eq[;ky; }kjk izsf”kr fd;k
b) Goods returned by the Branch to H.O.
but not received by H.O.
x;k eky ‘kk[kk dks izkIr
c) Amount remitted H.O. to Branch or
ugha gqvk
Vice Versa remaining in transit on b) eky ftls ‘kk[kk us
closing date. eq[;ky; dks okfil ykSVk
d) All the above. fn;k ysfdu eq[;ky; dks
izkIr ugha gqvk
c) eq[;ky; }kjk ‘kk[kk dks
Hksth xbZ jkf’k ;k blds
foykser] tks vafre frfFk
ds fnu ekxZLFk esa jgh
d) mijksDr lHkh
64. The account prepared for ascertaining the LVkWd vkSj _.kh i)fr ds rgr
amount of Gross Profit earned by the Branch ‘kk[kk }kjk vftZr fd;s x;s
under Stock & debtor system is ldy ykHk dh jkf’k dk irk
a) Branch Stock A/c. yxkus ds fy, rS;kj fd;k x;k
b) Branch Adjustment A/c. [kkrk gksrk gSA
c) Goods sent to Branch A/c.
a) ‘kk[kk LVkWd [kkrk
d) Branch Debtor A/c.
b) ‘kk[kk lek;kstu [kkrk
c) ‘kk[kk dks Hksts x, eky
dk [kkrk
d) ‘kk[kk _.k [kkrk
65. Under Companies Act 2013, the depreciation daiuh vf/kfu;e] 2013 ds rgr
should be provided based on ewY; ãl fdl vk/kkj ij eqgS;k
a) The useful life of the assets djk;k tkuk pkfg,sA
b) The block of assets a) vkfLr;ksa dk mi;ksxh thou
c) Both useful life & block of asset dky
d) Residual value
b) vkfLr;ksa dk CykWd
 c) vkfLr;ksa ds mi;ksx dk
thoudky vkSj vkfLr;ksa
dk CykWd nksuksa
d) vof’k”V ewY;
66. The difference in the amount of depreciation as daiuh vf/kfu;e] 2013 rFkk
per Companies Act 2013 and Income Tax Act vk;dj vf/kfu;e] 1961 ds
1961 are quantified as vuqlkj ewY; ãl jkf’k ds varj
a) Deferred tax assets dks [Link] fd;k tkrk gS
b) Deferred tax liabilities a) vkLFkfxr dj vkfLr;kWa
c) Either deferred tax assets or liabilities
b) vkLFkfxr dj ns;rk,Wa
d) Neither deferred tax assets nor
c) vkLFkfxr dj vkfLr;kWa ;k
liabilities
ns;rk,Wa esa ls ,d
d) u rks vkLFkfxr dj
vkfLr;kWa u gh ns;rk,Wa
67. As per section 8 of the Finance Act 2021, no foÙk vf/kfu;e 2021 dh /kkjk
depreciation will be allowed with effect from 8 ds vqulkj fu/kkZj.k o”kZ
AY 2021-22 on which one of the following 2021&22 ls fuEufyf[kr esa ls
intangible assets? fdl vewrZ vkfLr;ksa ij fdlh
a) Patents and copyrights rjg dk ewY;gzkl ykxw ugha
b) Trademark, Licenses
gksxk\
c) Franchises
a) isVsaV ,oa dkWihjkbZVl
d) Goodwill
b) VªsMekDZl ykblsaLk
c) fo'ks”kkf/kdkj (Franchises)
d) xqMfoy
68. When there is a change in the method of tc ewY;gzkl dh i)fr esa
depreciation, then cnyko gksrk gS] rc&
a) There should be retrospective a) Hkwry{kh ifjdyu gksuk
calculation pkfg,
b) There should be prospective b) Hkfo”;y{kh ifjdyu gksuk
calculation pkfg,
c) Enterprise can decide based on the
c) ifjfLFkfr ds vk/kkj ij
situation
d) No change is required
m|e [Link]; ys ldrs gS
d) fdlh ifjorZu dh
vko’;drk ugha gS
69. Which one of the following statement is fuEufyf[kr esa ls dkSu lk dFku
incorrect? xyr gS\
a) If the cost of machinery is more than a) ;fn e’khujh dh ykxr
the book value, then depreciation need vafdr ewY; ls vf/kd gS
not be provided rks ewY;gzkl nsus dh
b) When the plant and machinery are
vko’;drk ugha gksxh
maintained in good condition, through
b) ;fn ejEer ,oa cnyko
repairs and renewals, depreciation
need not be provided }kjk la;= ,oa e’khusa Bhd
c) In the absence of any legal provisions gkyr esa j[kh tkrh gSa rks
if the auditor finds that provision made ewY;gzkl dh vko’;drk
for depreciation is inadequate, then he ugha gksxh
is not required refer to it in his report c) ;fn ys[kk fu;a=d fdUgha
d) Depreciation is not the process of fof/kd izko/kkuksa ds vHkko
valuation of assets rather it is a process esa ewY;gzkl gsrq cuk, x,
of allocation of cost of asset over the izko/kkuksa dks vuqi;qDr
period of its economic life. ikrk gS rks] mls bldks
 viuh fjiksVZ esa mfYyf[kr
djus dh vko’;drk ugha
gS
d) ewY;gzkl vkfLr;ksa ds
ewY;kadu dh izfdz;k ugha
gS] cfYd ;g bldh
vkfFkZd thoukof/k esa
vkfLr;ksa ds ewY; vkcaVu
dh izfdz;k gSA
70. An asset can be depreciated at 10% p.a. by the fdlh vkfLr dk ljy js[kk i)fr
straight-line method or at 25% p.a. under the ls 10% izfro”kZ ;k fyf[kr ewY;
written down value method. The straight-line
i)fr ls 25% izfro”kZ ewY;gzkl
method will give higher amount of
depreciation from the
fd;k tk ldrk gSA ljy js[kk
a) Fourth year i)fr fdl o”kZ ls mPprj
b) Fifth year ewY;gzkl iznku djsxkA
c) Sixth year a) pkSFks o”kZ ls
d) Seventh year b) ikapos o”kZ ls
c) NBsa o”kZ ls
d) Lkkros o”kZ ls
71. The assets which were earlier revalued upward vkfLr;ksa dk igys m/oZeq[kh ,oa
and now revalued downward, to the extent of vc v/kkseq[kh iquZewY;kadu fd;k
earlier upward revaluation amount should be. x;kA igys fd;s x;s m/oZeq[kh
a) Credited to Revaluation Reserve ewY;kadu gksus pkfg,&
Account a) iquZewY;kadu vkjf{kr ys[kk
b) Debited to Revaluation Reserve
esa dszfMV gksus pkfg,
Account
b) iquZewY;kadu vkjf{kr ys[kk
c) Credited to Profit and loss account
d) Debited to Profit and Loss Account
esa MsfcV gksus pkfg,
c) ykHk ,oa gkfu ys[kk esa
dszfMV gkus pkfg,
d) ykHk ,oa gkfu ys[kk esa
MsfcV gksus pkfg,
72. A machine was purchased for Rs 10,00,000. ,d e’khu 10]00]000@& :- esa
An amount of Rs 40,000 was spent on [kjhnh xbZA 40]000@& :-
transportation and Rs 20,000 on installation of e’khu dh <qykbZ vkSj 20]000@&
the machine. The useful life of the machine is :- mldks yxkus esa yxsA e’khu
estimated to be 10 years and scrap value at dh mi;ksxh gkyr esa vuqekfur
Rs.1,00,000. What will be the annual vk;q 10 o”kZ dh gS ,oa bldk
depreciation at the end of 5th year?
a) Rs 84,000/-
dckM+ ewY; 1]00]000@& :- gSA
b) Rs 80,000/-
5osa o”kZ ds var rd okf”kZd
c) Rs 96,000/- ewY;gzkl D;k gksxk\
d) Rs 90,000/- a) 84]000@& :-
b) 80]000@& :-
c) 96]000@& :-
d) 90]000@& :-
73. Value of an asset after 3 years of depreciation vodkjd larqyu i)fr
on the Reducing Balance Method @10% is Rs (Reducing Balance Method) ij 3
35,450. What was its original value?
o”kZ ds voewY;u ds i'pkr 10%
a) Rs. 40,000/- dh nj ls fdlh vkfLr dk ewY;
b) Rs. 45,000/- 35]450@& :- gSA bldk
c) Rs. 50,000/- okLrfod ewY; D;k Fkk\
 d) Rs .72,450/- a) 40]000@& :-
b) 45]000@& :-
c) 50]000@& :-
d) 72]450@& :-
74. As per Schedule II of the Companies Act 2013, daiuh vf/kfu;e] 2013 dh II
depreciation is the systemic --------- of the vuqlwph ds vuqlkj ewY;gzkl
depreciable amount over the useful life of the fdlh vkfLr ds mi;ksxh dky ij
asset. ewY;gzkl ;ksX; ykxr dk
a) Amortization
b) Allocation
O;ofLFkr &&& gksrk gSA
a) ifj'kks/ku
c) Annualization
d) None of the above b) vkcaVu
c) okf”kZdhdj.k
d) mijksDr esa ls dksbZ ugha
75. Depreciation on an asset is provided with the vkfLr dk ewY; gzkl fuEufyf[kr
objective of esa ls fdl mn~ns’; ls fd;k tkrk
a) To accumulate funds for replacement of gS&
the asset a) vkfLr ds izfrLFkkiu gsrq
b) To ascertain true cost of production dks”k lap;u ds fy,
c) To present true and fair view of the
b) mRiknu dh lgh dher
financial position
d) All of the above
fu/kkZfjr djus ds fy,
c) foÙkh; fLFkfr dh lgh ,oa
okLrfod rLohj izLrqr
djus ds fy,
d) mijksDr lHkh
76. Under Income Tax provision 50% of ;fn vkfLr dk ,d o”kZ esa 180
depreciation is allowed if the asset is used for fnuksa ls de mi;ksx gqvk gks] rks
less than 180 days in a year whereas under vk;dj ds izko/kkuksa ds rgr
accounting depreciation is charged? 50% ewY;gzkl dh vuqefr gS]
a) Proportionately
tcfd ys[kkdj.k ewY;gzkl ds
b) Fully without any restriction
c) As per the policy of the company
varxZr fdl izdkj pktZ fd;k
tkrk gS
d) None of these a) vkuqikfrd :Ik ls
b) [Link]% fcuk fdlh izfrca/k
ds
c) daiuh dh uhfr ds vuqlkj
d) buesa ls dksbZ ugha
77. M/S Daga & Co. installed a machinery on eSllZ Daga ,.M daiuh us
01.01.2015 at a cost of Rs.5,00,000. Useful life 01-01-2015 dks 5]00]000@&
of the machine is estimated at 10 years. :- dher dh ,d e’khujh
Depreciation is charged under straight line yxkbZA e’khu dk mi;ksxh dky
method. In December, 2021, they found that
10 o”kZ vkadk tkrk gSA ljy
the machine became obsolete and could not be
used. It was sold for Rs.50,000. There will be
ys[kk ek/;e ds rgr ewY;gzkl
Hkkfjr fd;k tkrk gSA fnlacj
a) Capital loss of Rs.1,50,000 2021] esa mUgsa irk pyrk gS fd
b) Revenue loss of Rs.1,00,000 e’khu vizpfyr gks pqdh gS vkSj
c) Capital loss of Rs.1,00,000 mi;ksx ugha dh tk ldrh gSA
d) Revenue loss of Rs.1,50,000 bls 50]000@& :- esa cspk x;kA
D;k gksxk&
a) 1,50,000/- :- dh iwathxr
gkfu
 b) 1,00,000/- :- dh jktLOk
gkfu
c) 1,00,000/- :- dh iwathxr
gkfu
d) 1,50,000/- :- dh jktLo
gkfu
78. A and B agreed to enter a joint venture and A vkSj B ,d la;qDr m|e
agreed to share profit and losses equally. ‘A’ yxkrs gSa vkSj ykHk vkSj gkfu ds
supplied goods worth of Rs 250/- and incurred cjkcj ckaVus ij lger gksrs gSA
expenses amounting to Rs 20. ‘B’ supplied
goods worth of Rs 200/- and incurred expenses
A 250 :- ewY; ds eky dh
amounting to Rs 20. ‘B’ sold the entire goods vkiwfrZ djrk gS vkSj 20 :-
on behalf of the joint venture and realized Rs O;; ij djrk gSA B 200@& :-
600/-. ‘B’ was entitled to a commission of 5% ewY; ds eky dh vkiwfrZ djrk gS
on sales. ‘B’ settled his Account by Bank draft. vkSj 20 :- O;; ij djrk gSA
What is the profit of ‘A’ from the Joint B us la;qDr m|e dh vksj ls
venture? iwjk eky csp fn;k vkSj 600@&
a) Rs. 100
b) Rs. 80
:- owly fy;sA fcdzh ij B dks
c) Rs. 40 5% deh’ku dh gdnkjh FkhA B
d) None of the above. us cSad MªkQV }kjk vius [kkrs dks
lsVy dj fy;kA la;qDr m|e ls
A dk ykHk D;k gS\
a) 100@& :-
b) 80@& :-
c) 40@& :-
d) mijksDr esa ls dksbZ ugha
79. Memorandum Joint Venture Account is la;qDr m|e Kkiu [kkrk D;k
prepared to find out – izkIr djus ds fy, rS;kj fd;k
a) Amount due from the Co-venturers tkrk gSa&
b) Profit and loss account on the joint a) Lkg&m|fe;ksa ls ns; vk;
venture b) la;qDr m|e ij ykHk vkSj
c) Both of the above
gkfu [kkrk
d) None of the above
c) mijksDr nksuksa
d) mijksDr esa ls dksbZ ugha
80. In Memorandum Joint Venture Account la;qDr m|e Kkiu [kkrk ek/;e
Method, the Co-venturer records the following esa lg&m|eh fuEufyf[kr
transactions – laO;ogkj fjdkMZ djrk gS&
a) His transactions only a) dsoy vius laO;ogkjksa dks
b) Other Co-venturers transactions only b) dsoy nwljs lg&m|fe;ksa ds
c) All the transactions of the Joint
laO;ogkj dks
Venture
c) la;qDr m|e ds LkHkh
d) All of the above
laO;ogkj dks
d) mijksDr lHkh
81. Which of the following statements is true – fuEufyf[kr esa ls dkSu lk dFku
(i) Consignor always consigns goods at lgh@lR; gS&
invoice price (i) izs"kd ges’kk buokbl ewY;
(ii) Sending goods at invoice price shalI ij eky Hkstrk gSa
result in less profit in the Consignment (ii) ;fn yksfMax ds fy;s dksbZ
Account, if no adjustment is made for lek;kstu ugha fd;k tkrk
the loading.
(iii) Invoice price is always equal to selling
gS rks buokbl ewY; ij
 price eky Hkstus dk [Link]
(iv) Consignor consigns the goods at izs”k.k [kkrs esa de ykHk
invoice price to conceal the actual gksxk
profit earned on consignment (iii) buokbl ewY; ges’kk fodz;
a) (i) and (iii) ewY; ds cjkcj gksrk gS
b) (ii) and (iv) (iv) isz”k.k ij izkIr okLrfod
c) All of the above
d) None of the above
ykHk dks Nqikus ds fy,
izs”kd buokbl ewY; ij
eky Hkstrk gS
a) (i) vkSj (iii)
b) (ii) vkSj (iv)
c) mijksDr lHkh
d) mijksDr esa ls dksbZ ugha
82. 1000 tonnes of limestone is consigned at Rs. 20@& :- izfr Vu dh nj ls
20 per tonne. Freight thereon is Rs. 4,000. 600 1000 VUk ykbZe LVksu Hkstk
tonnes of limestone is sold, leaving 350 tonnes tkrk gSA ml ij HkkMk 4]000@&
unsold and normal loss of 50 tonnes. What is :- gSaA 600 Vu ykbZe LVksu csp
the cost of closing stock? fn;k tkrk gS] 350 Vu cspus ds
a) Rs. 8,400
fy, jg tkrk gS vkSj 50 Vu
b) Rs. 8,842
c) Rs. 7,000
dh lkekU; gkfu gksrh gSA vafre
d) Rs. 7,369
LVkWd dh dher D;k gksxh\
a) 8]400@& :-
b) 8]842@& :-
c) 7]000@& :-
d) 7]369@& :-
83. A of Bangalore enters into a joint venture with cSaxykSj ds A eqEcbZ ds B ds lkFk
B of Mumbai to ship cotton bales to C in tkiku esa C dh dikl&xV~Bk
Japan. A sends cotton of the value of Rs.
Hkstus ds fy,] ,d la;qDr m|e
30,000, pays railway freight of Rs. 1,500 and
sundry expenses of Rs. 1,575. B sends goods ‘kq: djrs gSA A 30]000@& :-
valued at Rs. 20,750 and pays freight and dher dh dIkkl Hkstrk gS
insurance of Rs. 1,200, dock dues of Rs. 200, 1]500@& #- dk jsy HkkMk vkSj
customer charges of Rs. 500 and other sundry 1]575@& :- dh QqVdj O;; dk
expenses of Rs. 500. A advances to B Rs. Hkqxrku djrk gSA B 20]750@&
6,000 on account of the venture. B receives :- dher dk eky Hkstrk gS vkSj
Account sale and remittance of the net 1]200@& :- HkkMk vkSj chek ij
proceeds from C for the whole of the goods 200@& :- dk canjxkg ns;]
amounting to Rs. 80,000. What is the profit of 500@& : dk xzkgd pktZ vkSj
Joint Venture?
a) Rs. 22,775
500@& :- ds vU; QqVdj O;;
b) Rs. 23,775 ij Hkqxrku djrk gSA A m|e
c) Rs. 24,775 [kkrs ij B dks 6]000@& :-
d) Rs. 25,775 vfxze nsrk gSA B, C ls
80]000@& :- dher ds [Link]
eky ds fy, ,dkmaV lsy vkSj
‘kq) vkxe izs”k.k izkIr djrk gSA
la;qDr m|e dk ykHk fdruk gS\
a) 22]775@& :-
b) 23]775@& :-
c) 24]775@& :-
d) 25]775@& :-
84. Which of the following is a correct journal eky izs”k.k ij gqbZ gkfu dks
entry to record the loss incurred by a fjdkMZ+ djus gsrq fuEufyf[kr esa
consignment: ls dkSu lh lgh tuZy izfof”V gS%
a) Profit and loss on consignment Dr.& a) eky isz”k.k ij ykHk o
Consignment Cr. gkfu MsfcV RkFkk eky isz”k.k
b) Consignment Dr.& Profit and loss on
dsfz MV
consignment Cr.
b) eky izs”k.k MsfCkV rFkk eky
c) Profit and loss on consignment Dr.&
Consignee Cr. isz”k.k ij ykHk gkfu dszfMV
d) Consignee Dr.& Profit and loss on c) eky isz”k.k ij ykHk gkfu
consignment Cr. MsfcV rFkk ftldks eky
Hkstk x;k dszfMV
d) ftldks eky Hkstk x;k
MsfCkV rFkk eky isz”k.k ij
ykHk gkfu dszfMV
85. A consignee is entitled to a 10% ordinary and a ,d izsf”krh 10% lk/kkj.k vkSj 5%
5% Del credere commission. If cash sales are izR;kid deh’ku dk gdknkj gSA
Rs. 50,000 and credit sales are Rs. 25,000, the ;fn udn fodz; 50]000@& :-
total commission would be: vkSj dszfMV fodz; 25]000@& :-
a) Rs.8,750
gS] rks dqy deh’ku gksxk&
b) Rs. 6,250
a) 8]750@& :-
c) Rs. 7,500
d) Rs. 11,250 b) 6]250@& :-
c) 7]500@& :-
d) 11]250@& :-
86. Which of the following statement is true? fuEufyf[kr esa ls dkSu lk¼ls½
When separate set of books is maintained, dFku lR; gS\ tc cfg;ksa dk
expenses paid by venturer will be credited to: ,d i`Fkd lsV j[kk tkrk gS rks
m|eh }kjk fd, x, Hkqxrku dks
a) When separate set of books is dszfMV fd;k tk,xk
maintained, expenses paid by venturer a) tc cfg;ksa dk ,d i`Fkd
will be credited to venturer's capital
account.
lsV j[kk tkrk gS rks m|eh
b) When separate set of books is
}kjk Hkqxrku fd, x, O;;
maintained, expenses paid by venturer dks m|eh ds iwath [kkrs es
will be credited to Jt. venture account. tek dszfMV fd;k tk,xk
c) When separate set of books is b) tc cfg;ksa dk ,d i`Fkd
maintained, expenses paid by venturer lsV j[kk tkrk gS] rks
will be credited to Outstanding m|eh }kjk Hkqxrku fd,
Expenses Account. x, O;; dks la;qDr m|e
d) None of the above. [kkrs esa dszfMV fd; tk,xk
c) tc cfg;ksa dk ,d i`Fkd
lsV j[kk tkrk gS] rks
m|eh }kjk Hkqxrku fd,
x, O;; dk cdk;k O;;
[kkrs esa dszfMV fd;k tk,xk
d) mi;qZDr esa ls dksbZ ugha
87. A minor can join as a co-venture in a joint la;qDr m|e O;kikj esa ,d
venture business: vO;Ld m|edrkZ cu ldrk gS%
a) Yes, if accepted by all co-ventures. a) gka] ;fn lHkh lg
b) Yes, if accepted by competent m|edrkZvksa dks Lohdkj gks
authority b) gka] ;fn l{ke izkf/kdj.k
c) Cannot become co-ventures.
 d) Yes, for the benefit of joint venture. dks Lohdkj gks
c) lg m|edrkZ ugha cu
ldrk
d) gka] la;qDr m|e ds ykHk
ds fy,
88. For material supplied from own stock by any fdlh Hkh lg m|edrkZ }kjk
of the co-venturer, the correct journal entry vius LVkWd ls vkiwfrZ dh xbZ
will be: lkexzh ds fy;s tuZy esa lgh
a) Joint venture Account Dr.; To izfof”V gksxh%
concerned venture’s capital account a) la;qDr lkgl [kkrs ls
b) Joint venture Account Dr.; To Joint
MsfcV lacaf/kr m|e ds
Bank account
c) Joint venture Account Dr.; To material
iwathxr ys[kk es
b) la;qDr lkgl [kkrs ls
account
d) Joint Bank account Dr.; To Joint MsfcV la;qDr cSad [kkrs esa
venture account c) la;qDr lkgl [kkrs ls
MsfcV lkexzh [kkrs esa
d) la;qDr cSad [kkrs ls MsfcV(
la;qDr lkgl [kkrs esa
89. During the process of dissolution of lk>snkjh ds fo?kVu dh izfdz;k ds
partnership, carrying value of machinery is of nkSjku e’khujh dk ewY;
Rs 5,000 and building Rs 20,000. While both 5]000@& :- vkSj fuekZ.k ewY;
fixed assets are disposed at cumulative price of 20]000@& :- gSA tcfd nksuksa
Rs 10,000 and realisation cost was up to Rs LFkk;h vkfLr;ksa dk fuiVku
2000. Identify the total amount needed to be 10]000@& :- ds lap;h ewY;
debited or credited to the partners’ capital
account.
ij dj fn;k x;k vkSj olwyh
a) Rs. 12,000 debit
ykxr 2]000@& :- FkhA
b) Rs. 13,000 credit lk>snkjksa ds iwathxr [kkrs esa
c) Rs. 13000 debit MsfcV ;k dzsfMV dh tkus okyh
d) None of the above ldy jkf’k dks crk,saA
a) 12]000@& :- MsfcV
b) 13]000@& :- dszfMV
c) 13]000@& :- MsfcV
d) mi;qZDr esa ls dksbZ ugha
90. Identify the correct double entry for realization lk>snkjh ds fo?kVu ds le; ykHk
of profit at the time of dissolution of dh olwyh gsrq lgh nksgjh izfof”V
partnership. crk,asA
a) Debit realization account and credit a) olwyh [kkrs es MsfcV djsa
bank account vkSj cSad [kkrs esa dszfMV
b) Debit bank account and credit
djsa
realization account
b) cSad [kkrs esa MsfcV djsa vkSj
c) Debit realization account and credit
partners’ capital account olwyh [kkrs esa dszfMV djsa
d) None of the above c) olwyh [kkrs esa MsfcV djsa
vkSj lk>snkjksa ds iwathxr
[kkrs esa dszfMV djsa
d) mi;qZDr esa ls dksbZ ugha
91. On dissolution of a firm, its Balance Sheet fdlh QeZ ds fo?kVu gksus ij
revealed total creditors of Rs. 50,000, Total mldk rqyu i= esa 50]000@&
Capital Rs. 48,000, Cash Balance Rs. 3,000. Its :- ds dszfMVlZ] 48]000@& :-
assets were realised at 12% less. Loss on dh ldy iwath] udn ‘ks”k
realisation will be- 3]000@& :- fn[kk;s x;sA bldh
a) Rs. 11,740
 b) Rs. 11,400 vkfLr;ka 12% de ij olwyh
c) Rs. 11,620 x;haA olwyh ij uqdlku gksxk&
d) Rs. 3,600 a) 11]740@& :-
b) 11]400@& :-
c) 11]620@& :-
d) 3]600@& :-
92. Good will brought in by incoming partner in ,d lk>snkjh QeZ ls tqMus gsrq
cash for joining in a partnership firm is taken uxnh nsdj lk>snkj gksdj cuk;h
away by the old partners in their………ratio. xbZ xqMfoy dks iqjkus lk>snkjksa
}kjk muds &&& fdl vuqikr esa
a) Capital fy;k tk,xk
b) New Profit Sharing a) iwath
c) Sacrificing
b) ubZ ykHk fgLlsnkjh
d) Gaining
c) R;kx
d) ykHk gksuk
93. At the time of dissolution of the firm if the QeZ ds fo?kVu ds le; ;fn
goodwill appears in the balance sheet, it is to rqyu i= esa xqMfoy fn[kkbZ tkrh
be transferred to which account- gS rks mls fdl [kkrs esa varfjr
a) Revaluation A/c fd;k tk,xk
b) Capital A/c a) iquEkwZY;kadu [kkrk
c) Realisation A/c
b) iwathxr [kkrk
d) Current A/c
c) olwyh [kkrk
d) pkyw [kkrk
94. On the basis of the following data, the final fuEufyf[kr MkVk ds vk/kkj ij]
payment to a partner on firm’s dissolution will QeZ ds fo?kVu ij lk>snkj dks
be made. vafre Hkqxrku fd;k tk,xk&
Capital Account: Rs.14,000 (Dr. balance) iwathxr [kkrk % 14]000@& :-
Share of his profit on realisation: ¼MsfcV ‘ks”k½
Rs.43,000/- olwyh ij mlds fgLls dk ykHk %
Firm’s asset taken over by him: Rs.17,000/-
Please identify the correct answer.
43]000@& :-
mlds }kjk vf/kx`fgr dh xbZ
a) Rs. 81,000 QeZ dh vkfLr;ksa % 17]000@&
b) Rs. 26,800 :-
c) Rs. 12,000 d`i;k lgh mRrj dh igpku djsa
d) Rs. 60,000 a) 81]000@& :-
b) 26]800@& :-
c) 12]000@& :-
d) 60]000@& :-
95. R, J and D are the partners sharing profits in R, J vkSj D lk>snkj gSa tks 7%5%4
the ratio[Link]. D died on 30th June 2020. It ds vuqikr esa ykHk lk>k djrs
was decided to value the good will on the basis
gSaA 30 twu 2020 dks D dh
of three year’s purchase of last five years
average profits. If the profit share 29,600;
e`R;q gks tkrh gSA vafre ikap
28,700; 28,900; 24,000 and 26,800. What will o”kksZa ds vkSlr ykHk dk rhu o”kksZa
be D’s share of goodwill? ds dz; ds vk/kkj ij xqMfoy dk
a) Rs. 20,700. ewY;kadu djus dk [Link]; fy;k
b) Rs. 27,600. x;kA ;fn ykHk fgLlsnkjh
c) Rs. 82,800. 29]600@&( 28]700@&(
d) Rs. 67,500 28]900@&( 2]4000@& vkSj
26]800@& gS rks xqMfoy es D
dk fgLlk D;k gksxk\
 a) 20]700@& :-
b) 27]600@& :-
c) 82]800@& :-
d) 67]500@& :-

96. A, B and C take a Joint Life Policy, after five A, B vkSj C la;qDr thou chek
years, B retires from the firm. Old profit- ikWyhlh ysrs gS] ikap o”kksZ ds ckn]
sharing ratio is [Link]. After retirement A and C
B QeZ ls lsokfuo`Rk gks tkrk gSA
decide to share profits equally. They had taken
a Joint Life Policy of 2,50,000 with the
iqjkuk ykHk fgLlsnkjh vuqikr
surrender value 50,000. What will be the 2%2%1 gSA lsokfuo`fr ds mijkar
treatment in the partner’s capital account on A vkSj C ykHk dks cjkcj ckaVus
receiving the JLP amount if joint life policy is dk [Link]; djrs gSA mUgksaus
maintained at the surrender value? 50]000 ljsUMj ewY; ds lkFk
2]50]000 dk la;qDr thou
a) 50,000 credited to all the partners in chek fy;k FkkA ;fn thou chek
old ratio. ikWyhlh dks ljUMj ewY; ij
b) 2,50,000 credited to all the partners in cjdjkj j[kk tkrk gS rks la;qDr
old ratio. thou ikWyhlh jkf’k izkIr gksus ij
c) 3,00,000 credited to all the partners in
lk>snkj ds iwathxr [kkrs esa
old ratio.
d) No treatment is required.
fu:i.k D;k gksxk\
a) iqjkus vuqikr esa lHkh
lk>snkjksa dks 50]000
dzsfMV fd;s x;s
b) iqjkus vuqikr esa lHkh
lk>snkjksa dks 2]50]000
dzsfMV fd;s x;s
c) iqjkus vuqikr esa lHkh
lk>snkjksa dks 3]00]000
dzsfMV fd;s x;s
d) fdlh fu:i.k dh
vko’;drk ugha gS
97. A and B are partners sharing profits and losses A vkSj B lk>snkj gS vkSj 5%3
in the ratio 5:3. They admitted C and agreed to ds vuqikr esa ykHk vkSj gkfu dks
give him 3/10th of the profit. What is the new
lk>k djrs gSA os C dks ‘kkfey
ratio after C’s admission?
a) [Link].
djrs gS vkSj mls ykHk dk 3@10
b) [Link]. nsus ij lger gksrs gSA C ds
c) [Link]. ‘kkfey gksus ds ckn Uk;k vuqikr
d) [Link] D;k gksxk\
a) [Link].
b) [Link].
c) [Link].
d) [Link]
98. Mohan and Sohan were in a joint venture eksgu vkSj lksgu la;qDr m|e esa
sharing profits and losses in the ratio of 3:2. 3%2 vuqikr esa ykHk o gkfu
Mohan supplied goods of the value of Rs. 6000 lk>k djrs FksA eksgu us
and incurred an expenditure of Rs. 200. Sohan 6]000@& :- ewY; ds lkeku
supplied goods of the value of Rs. 5,000 and dh vkiwfrZ dh vkSj 200@& :-
his expenses were Rs. 300. Sohan sold all the O;; fd;kA lksgu us 5]000@&
goods for a sum of Rs. 18,000. Sohan is
entitled to a commission of 4% on sales and he
:- ewY; ds lkeku dh vkiwfrZ
 settled his account by sending a bank draft to dh vkSj mldk O;; 300@& :-
Mohan. What is the profit of Joint venture? FkkA lksgu us 18]000@& :- esa
a) Rs. 15,000 lkjk lkeku csp fn;kA lksgu
b) Rs. 12,000 fodz; ij 4% deh’ku dk gdnkj
c) Rs. 5,780
gSA vkSj mlus eksgu dks cSad
d) Rs. 6,500
Mªk¶V Hkstdj viuk [kkrk lSvy
dj fy;k\ la;qDr tksf[ke ykHk
d;k gS\
a) 15]000@& :-
b) 12]000@& :-
c) 5]780@& :-
d) 6]500@& :-
99. A new partner may be admitted to a lk>snkjh esa u, lk>snkj dks
partnership: ‘kkfey fd;k tk ldrk gS%
a) With the consent of all the partners a) lHkh lk>snkjksa dh lgefr
b) With the consent of two third of old ls
partners b) nks frgkbZ lk>snkjksa dh
c) With the consent of one third of old
lgefr ls
partners
c) ,d frgkbZ iqjkus lk>snkjksa
d) Without consent of old partners
dh lgefr ls
d) iqjkus lk>snkjksa dh lgefr
ds fcuk
100. Adam, Brain and Chris were equal partners of ,SMe] czk;u vkSj fdzl ,d QeZ
a firm with goodwill 1,20,000 shown in the esa cjkcj ds lk>snkj gSa ftuds
balance sheet and they agreed to take Daniel as rqyu i= esa 1]20]000 xqMfoy
an equal partner on the term that he should n’kkZ;h xbZ gS vkSj os Msfu;y dks
bring 1,60,000 as his capital and goodwill, his cjkcj dk lk>snkj cukus gsrq bl
share of goodwill was evaluated at 60,000 and ‘krZ ij lger gq, gSa og xqMfoy
the goodwill account is to be written off before
admission. What will be the treatment for
vkSj iwath ds :Ik esa 1]60]000
goodwill? yk,xkA mldh xqMfoy dk
a) Write off the goodwill of 1,20,000 in ewY;kadu 60]000 fd;k x;k Fkk
old ratio. vkSj izos’k ls iwoZ mldk xqMfoy
b) Cash brought in by Daniel for [kkrk cV~Vs [kkrs Mkyuk gksxkA
goodwill will be distributed among old mldh xqMfoy dk fu:i.k D;k
partners in sacrificing ratio. gksxk\
c) Both (a) & (b) a) iqjkus vuqikr esa
d) None of the above. 1]20]000 dh xqMfoy dks
cV~Vs [kkrs Mkyuk
b) xqMfoy gsrq Msfu;y }kjk
yk, x, udn dks iqjkus
lk>snkjksa esa R;kx vuqikr
esa ckaVuk gksxk
c) (a) vkSj (b) nksuksa
d) mi;qZDr esa ls dksbZ ugha

[Link].45

(*Clarification: In this Q. Option d) may be read as 1, 2, 3 ,4 rather than 1, 2, 6, 7 in both English and
Hindi Version.)
[Link]. 58

(*Clarification: Both Options (b) & (c) are correct in this Question)