2Common Proficiency Test Model Paper 3

BOARD OF STUDIES THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA COMMON PROFICIENCY TEST Model Test Paper – BOS/CPT – 9 Time : 4 hours Maximum Marks : 200 The test is divided into four sections. Questions 1 to 200 have only one correct answer and carry + 1 mark for each correct answer and – 0.25 mark for each wrong answer. SECTION – A : FUNDAMENTALS OF ACCOUNTING (60 MARKS) 1. Carriage inwards is debited to (a) Trading A/c (b) P & L A/c (c) P & L appropriation A/c (d) Balance Sheet 2. A bill was drawn on 20.1.2010 payable after 60 days, the maturity date of the bill will be (a) 24.4.2010 (b) 21.3.2010 (c) 24.3.2010 (d) None of the above 3. Amount spent for the construction of temporary huts which were necessary for construction of the overbridge (flyover) and demolished when the flyover was ready is a (a) Capital expenditure (b) Deferred Revenue expenditure (c) Revenue expenditure (d) Both (a) and (c) 4. Difference of total of debit and credit side of the trial balance is transferred to (a) Suspense A/c (b) Difference A/c (c) P & L A/c (d) Trading A/c Common Proficiency Test (CPT) Volume - II 219 © The Institute of Chartered Accountants of India MODEL TEST PAPER - 9 5. In the absence of any partnership agreement, profits and losses are shared among the partners (a) Equally (b) In the ratio of capital (c) In the ratio of loan given by them to the partnership firm (d) Either (a) or (b) 6. Which of the following statement is not true? (a) Petty cash is an asset (b) In case of debt becoming bad the amount should be credited to bad debts A/c (c) Plant & Machinery is a fixed asset (d) Goods distributed as sample is credited to Purchases A/c 7. Returns inward is debited to (a) P & L A/c (b) Balance Sheet (c) Trading A/c (d) None of the above 8. Carriage outward is debited to (a) Balance Sheet (b) P & L A/c (c) P & L appropriation (d) All of the above 9. Which of the following is correct? (a) Liabilities = Capital + Assets (b) Capital = Assets – Liabilities (c) Capital = Assets + Liabilities (d) Assets = Liabilities – Capital 10. Material costing Rs. 4,000 and labour charges Rs. 3,000 paid for the erection of the building is debited to (a) Purchases A/c (b) Material A/c (c) Building A/c (d) Wages A/c 11. Fundamental accounting assumptions are (a) Consistency concept (b) Going concern concept (c) Accrual concept (d) All of the above 12. Writing of transaction in the Ledger is called (a) Casting (b) Balancing (c) Posting (d) Journalizing 13. Municipal tax Rs. 6,000 under dispute is a (a) Contingent Liability (b) Revenue expenditure (c) Current Liabilities (d) Current assets 220 Common Proficiency Test (CPT) Volume - II © The Institute of Chartered Accountants of India 14. Purpose of accommodation bill is (a) To facilitate trade transaction (b) When both parties are in need of fund (c) Provide loan for actual purchases or sales of goods (d) All of the above 15. In the Journal there are (a) 4 columns (b) 5 columns (c) 6 columns (d) 7 columns 16. In the ledger there are (a) 5 columns (b) 6 columns (c) 7 columns (d) 8 columns 17. Joint Venture account is a (a) Nominal A/c (b) Personal A/c (c) Real A/c (d) Dummy A/c 18. Freight charges paid on purchase of a new motor will be debited to (a) Carriage A/c (b) Motor A/c (c) Freight A/c (d) Freight & Motor A/c 19. Capital expenditure provides benefit (a) Very short-term (b) Long term (c) Short term (d) All of the above 20. Capital expenditures are recorded in the (a) Trading A/c (b) P & L A/c (c) Balance sheet (d) All of the above 21. Arjun purchased goods for Rs. 10,00,000 and sold 70% of such goods during the year ended 31st December 2009. The market value of the remaining goods was Rs. 2,00,000. He valued the closing stock at cost. He violated the concept of (a) Periodicity (b) Money measurement (c) Conservatism (d) Cost 22. A building was purchased for Rs. 4,00,000 on 1.04.2009. 31st March, 2010, its net realizable value was Rs. 5,00,000. The value of building to be shown in the books as on 31st March, 2010 will be (a) Cost price (b) Net realisable value (c) Cost or Net realisable value which ever is less (d) Cost or Net realisable value which ever is more Common Proficiency Test (CPT) Volume - II 221 © The Institute of Chartered Accountants of India MODEL TEST PAPER - 9 23. Cash sales Rs. 70,000 Cash collected from debtors Rs. 2,00,000 Bad debts Rs. 7,000 Opening Debtors - Rs. 30,000 Closing Debtors Rs. 16,000 Total sales will be (a) Rs. 2,33,000 (b) Rs. 2,63,000 (c) Rs. 2,43,000 (d) Rs. 2,60,000 24. A cheque of Rs. 6,000 received from X was dishonoured and had been posted to debit of Sales returns account. Rectifying journal entry will be (a) X A/c Dr. 6,000 To Sales Returns A/c 6,000 (b) Sales Return A/c Dr. 6,000 To X A/c 6,000 (c) Sales Return A/c Dr. 6,000 To Suspense A/c 6,000 . (d) None of the above 25. Ram and Shyam entered into a joint venture. Ram purchased goods costing Rs. 52,500. Shyam sold goods costing Rs. 45,000 at Rs. 60,000. Balance goods were taken over by Ram at Rs. 10,000. The profit on Joint Venture is (a) Rs. 15,000 (b) Rs. 17,500 (c) Rs. 7,500 (d) Rs. 25,000 26. K and L are equal partners. They admitted M for 1/4 share in future profit. New profit sharing ratio will be (a) 2:2:1 (b) 3:3:1 (c) 3:3:2 (d) none of the above 27. X, Y and Z are partners sharing profits in the ratio of 4:3:2. Y retires, X and Z decide to share future profits in the ratio of 5:3. Gaining ratio between X and Z will be (a) 12:10 (b) 10:12 (c) 13:11 (d) None of the above 28. A machinery is purchased for Rs. 60,000. Depreciation is to be provided annually on the basis of fixed instalment method. Useful life of the asset is 8 years and the residual value is Rs. 10,000. Rate of depreciation will be (a) 10.416% (b) 10% (c) 9.416% (d) 11% 29. Goods worth Rs. 7,000 given as charity should be credited to (a) Trustee A/c (b) Sales A/c (c) Purchases A/c (d) Charity A/c 222 Common Proficiency Test (CPT) Volume - II © The Institute of Chartered Accountants of India 30. Perpetual inventory valuation system entails (a) Maintenance of records of each receipts and issues. (b) Direct determinatin of cost of goods issued and closing stock is taken as residual figure. (c) Reconciliation of physical stocks with the stock as per records. (d) All of the above 31. Ram, Shyam and Mohan are partners sharing profits in the ratio of 4:3:2. Sohan is admitted for 1/3 share in future. Profit sacrificing ratio will be (a) 2:3:2 (b) 4:3:2 (c) 3:2:3 (d) None of the above 32. Y and Z are partners sharing profit in the ratio of 3:2. X is admitted as a partner. The new profit sharing ratio among Y, Z and X is 5:3:2. Sacrificing ratio will be (a) 2:3 (b) 1:1 (c) 3:2 (d) None of the above 33. On admission of a partner, unrecorded investment worth Rs. 10,000 and unrecorded liability toward suppliers for Rs. 4,000 will be recorded in (a) Capital A/c (b) Realization A/c (c) Revaluation A/c (d) None of the above 34. M, N and O are partners with capitals of Rs. 10,000, Rs. 7,500 and Rs. 5,000 respectively. On O’s retirement his share is acquired by M and N in the ratio of 3:2 respectively. Gaining ratio will be (a) 2:2 (b) 2:3 (c) 1:2 (d) 3:2 35. Goodwill is to be calculated at one and half years purchases of average profit of last 6 years. The firm earned profit during the first 3 years as Rs. 30,000, 20,000 and 20,000 and suffered losses of Rs. 5000, 3000 and 2000 in the last 3 years. Goodwill amount will be (a) Rs. 10,000 (b) Rs. 15,000 (c) Rs. 20,000 (d) Rs. 25,000 36. X started business with Rs. 1,00,000 cash and furniture Rs. 20,000. He bought goods worth Rs. 3,00,000 on credit basis. Sales amount to Rs. 5,00,000 including Rs 50,000 cash sales. Out of credit sales, Rs. 1,00,000 were outstanding at the end of the year. Cash balance after giving affect of above transactions will be (a) Rs 4,50,000 (b) Rs 3,50,000 (c) Rs 5,00,000 (d) Rs 2,00,000 Common Proficiency Test (CPT) Volume - II 223 © The Institute of Chartered Accountants of India MODEL TEST PAPER - 9 37. An old furniture appearing in the books at Rs. 10,000 is to be exchanged for a new furniture of Rs. 10,000. The old furniture has been valued at Rs. 2,000 for exchange purpose. Loss on exchange will be (a) Rs. 18,000 (b) Rs. 22,000 (c) Rs. 8,000 (d) Rs. 7,000 38. Goods of Rs. 30,000 ( sales price ) sent on approval or return basis were included in the sales book. The profit included in the sales was 20% on cost. Stock with the party will increase closing stock by (a) Rs. 25,000 (b) Rs. 30,000 (c) Rs. 20,000 (d) Rs. 24,000 39. Which of the following is a non cash expense (a) Depreciation (b) Salary paid (c) Rent paid (d) Carriage 40. Salary paid to employee Rs. 10,000 debited to Employee A/c by Rs. 1,000. Rectifying entry will be (a) Salary A/c Dr 10,000 To Employee A/c 10,000 (b) Salary A/c Dr 10,000 To Employee A/c 1,000 To Suspense A/c 9,000 (c) Salary Dr 10,000 To Employee A/c 1,000 (d) None of the above 41. In the trial balance of joint stock company the following balances are given i. 10% Mortgage debentures 4,00,000 (payable after 4 years) ii. Discount allowed on issue of debenture 10,000 Amount of discount written off per year will be (a) Rs. 2,400 (b) Rs. 2,500 (c) Rs. 3,000 (d) Rs. 2,600 42. Recovery of bad debt is a (a) Revenue expenditure (b) Revenue receipt (c) Deferred revenue expenses (d) Capital receipt 224 Common Proficiency Test (CPT) Volume - II © The Institute of Chartered Accountants of India 43. Capital on April 1, 2009 Rs. 20,000 Capital on April 1, 2010 Rs. 25,000 Drawings during the year Rs. 5,000 Additional capital introduced Rs. 6,000 during the year Net Profit of the year will be (a) Rs. 6,000 (b) Rs. 5,000 (c) Rs. 4,000 (d) Rs. 3,000 44. Raj draws a bill on Rohan for Rs. 1,00,000 for mutual accommodation. Raj discounted the bill for Rs. 98,000 from Bank and remitted Rs. 49,000 to Rohan. On the due date Raj will send to Rohan (a) Rs. 49,000 (b) Rs. 42,000 (c) Rs. 47,000 (d) Rs. 50,000 45. In bank reconciliation statement, when balance as per cash book is taken as the starting point, then interest collected by the bank Rs.9,000 and direct deposit by a customer into his bank Rs. 18,000 will be (a) Ignored (b) Added (c) Subtracted (d) deducted 46. The expired portion of capital expenditure is (a) An Asset (b) A Liability (c) An Income (d) An Expense 47. On 10.05.2010, A draws a bill on B for Rs. 50,000 for 40 days. June 22 is a public holiday. The maturity date of the bill will be (a) 21 June, 2010 (b) 23 June, 2010 (c) 22 June, 2010 (d) 19 June, 2010 48. Which of the following errors will effect the trial balance (a) Repairs to motor plant wrongly debited to motor plant account (b) Total of purchases journal is short by 70,000 (c) Wages paid on purchase of new motor plant debited to wages a/c (d) None of three 49. Rohit acceptance to Sumit for Rs. 15,000 renewed at 6 month on the condition that Rs. 10,000 be paid in cash immediately and a new bill of 6 months will be drawn for the remaining amount which will carry interest @ 10% p.a. The amount of interest will be (a) Rs. 100 (b) Rs. 150 (c) Rs. 250 (d) Rs. 200 Common Proficiency Test (CPT) Volume - II 225 © The Institute of Chartered Accountants of India MODEL TEST PAPER - 9 50. Goods destroyed by fire Rs. 80,000 and insurance company admitted 50% claim. The loss on insurance claim will be entered in (a) Balance Sheet (b) Trading A/c (c) P & L A/c (d) All of the above. 51. Following balances are given in trial balance 10% loan on (1.04.2009) Rs. 70,000 (Cr.) Interest on loan 3,500 Interest outstanding at the end of the year will be (a) Rs. 3,500 (b) Rs. 10,500 (c) Rs. 7,000 (d) Rs. 3,000 52. Furniture bought on 1st October 2008 for Rs. 40,000 was sold on 31st March, 2010 for Rs.36,000. Depreciation is charged @ 10% p.a. on original cost. Accounting year closes on 31st March every year . Profit on sales will be (a) Rs. 3,000 (b) Rs. 1,000 (c) Rs. 4,000 (d) Rs. 2,000 53. Following figures have been taken from the book of a trader Purchases 1,00,000 Purchases returns 9,000 Sales returns 8,000 Sales 1,60,000 Carriage outward 5,000 Office rent 4,000 Amount of gross profit will be (a) Rs. 60,000 (b) Rs. 61,000 (c) Rs. 52,000 (d) Rs. 70,000 54. The profit for the last four years are given as follows Years Rs. 2006 10,000 2007 15,000 2008 20,000 2009 15,000 The value of goodwill on the basis of three years purchases of average profit based on last four years will be (a) Rs. 15,000 (b) Rs. 60,000 (c) Rs. 20,000 (d) Rs. 45,000 226 Common Proficiency Test (CPT) Volume - II © The Institute of Chartered Accountants of India 55. Which of the following is a fixed asset? (a) Cash (b) Building (c) Stock (d) Debtors 56. General Reserve at the time of admission of a new partner is transferred to (a) Capital A/c of partners (b) Trading A/c (c) P & L adjustment (d) Balance Sheet 57. Which of the following is a current asset? (a) Plant & Machinery (b) Land & Building (c) Debtors (d) Furniture 58. Preliminary expenses in connection with flotation of a new company is (a) Miscellaneous capital expenditure (b) Current assets (c) Fixed assets (d) All of the above 59. Goods costing Rs. 30,000 were sold at 25% profit on selling price. Sales price will be (a) Rs. 7,500 (b) Rs. 22,500 (c) Rs. 37,500 (d) Rs. 40,000 60. On April, 2009, Gita invested capital of Rs. 60,000. She withdrew Rs. 5,000 on the first day of each month interest on drawing is provided @ 20%. The amount of interest on drawings deducted from capital will be (a) Rs. 6,000 (b) Rs. 12,000 (c) Rs. 6,500 (d) Rs. 1,000 SECTION – B : MERCANTILE LAWS (40 MARKS) 61. Actual breach may be (a) During the course of performance (b) On the date of performance (c) (a) and (b) (d) (a) or (b) 62. A contract implied by law is known as (a) Contingent contract (b) Alternation (c) Quasi contract (d) Implied contract 63. Specific performance may be ordered by court if (a) There is no standard for ascertain actual damage (b) Pecuniary compensation is not adequate relief Common Proficiency Test (CPT) Volume - II 227 © The Institute of Chartered Accountants of India MODEL TEST PAPER - 9 (c) The act is done wholly on part of trust (d) (a) or (b) or (c) 64. Which of the following is not referred to as goods (a) Stock (b) Shares (c) Money (d) Grass 65. A contract can be performed by (a) An agent of the promisor (b) The promisor himself (c) (a) or (b) (d) Both (a) and (b) 66. Which of the following statement is false? Consideration (a) Must be of some value (b) Must not of the desire of the promisor (c) May move from any person (d) Must be illusory 67. An executory consideration (a) Is a promise for a promise (b) Consists of a promise in future (c) Is an outstanding liability on both the parties (d) All of the above 68. _________ of a firm means the breaking up or extinction of the relationship which subsisted between all the partners of the firm (a) Registration (b) Dissolution (c) Amalgamation (d) Demerger 69. Publishing defamatory statements or agreements which are opposed to public policy are (a) Valid (b) Voidable (c) Illegal (d) Void 70. Following is not a mode of delivery (a) Statutory delivery (b) Constructive delivery (c) Actual delivery (d) Symbolic delivery 71. In a breach of contract, if the promisee did not suffer any real damage, he can claim (a) Exemplary damages (b) General damages (c) Nominal damages (d) No damages 72. In an agreement one party agrees to assist the other in recovering property, with a view to sharing the profits of litigation. It is (a) Maintenance (b) Champerty (c) Stifling litigation (d) None of the above 228 Common Proficiency Test (CPT) Volume - II © The Institute of Chartered Accountants of India 73. Risk prima facie passes with (a) Payment of price (b) Property or ownership (c) Completed agreement (d) Verification and delivery of goods 74. When the seller fails to give notice to the buyer under Section 39(3), the risk during sea- transit lies with the (a) Seller (b) Buyer (c) Carrier (d) Insurer 75. A pen or pencil that will not write, a watch that will not keep time, a rubber that will not help to erase cannot be considered as (a) Presentable (b) Whole some (c) Merchantable (d) None of the above 76. Audit of a partnership firm’s account is compulsory under the Partnership Act, 1932 (a) Yes (b) Partly yes (c) No (d) Partly No 77. Seller has right of resale where (a) Goods are perishable. (b) Seller has reserved such right (c) Seller gives notice (d) All of these. 78. Competitions involving games of skill are (a) Illegal & void (b) Voidable (c) Unlawful (d) Valid 79. A contingent contract is (a) Void from beginning (b) Void if based on happening of an impossible event (c) Enforceable if the contingent event is under the control of the promisor (d) Wagering agreement 80. Champerty and maintenance are the ____________agreement. (a) Lawful (b) Void (c) Valid (d) Unlawful 81. When both the benefits & burden devolve on the legal heir, it would be called (a) Will (b) Assignment (c) Delegation (d) Succession Common Proficiency Test (CPT) Volume - II 229 © The Institute of Chartered Accountants of India MODEL TEST PAPER - 9 82. _________cannot enter with a contract. (a) Partner (b) Agent (c) Lunatic (d) Sole Trader 83. The objects of an agreement shall not be unlawful if ___________. (a) It is forbidden by law (b) It defines the provisions of law (c) It is for legal consideration (d) It is fraudulent 84. A __________ agreement is one, which is enforceable at the option of one party. (a) Voidable (b) Void (c) Valid (d) Illegal 85. Under the Sale of Goods Act, 1930, the property in goods passes when________. (a) Payment is made (b) Goods are ascertained (c) The contract is made (d) None of the above 86. Privity of contract is subject to the exception ___________. (a) Where a trust or charge is created (b) Where payment is made to a third party (c) Where payment is made by a third party (d) None of the above 87. A contract involving two promises is called: (a) A contract having reciprocal promises (b) A bilateral contract (c) A contract having cross promises (d) An unenforceable contract 88. Partnership deed is also called________. (a) Partnership Agreement (b) Constitution of Partnership (c) Articles of Partnership (d) All of the above 89. Property of the firm shall be held by use of the partners ___________. (a) For charitable purposes (b) For private purposes of the partners (c) For business purposes as well as private purposes (d) Exclusively for business purposes 90. Section 10 of the Sale of Goods Act 1930 deals with fixation of price of goods by __________. (a) The Judge (b) The Arbitrator (c) The Central Government (d) The valuation of a third party. 230 Common Proficiency Test (CPT) Volume - II © The Institute of Chartered Accountants of India 91. In an agreement to sell the property (ownership) in the goods passes __________. (a) Immediately (b) At a future date (c) Either immediately or future date (d) Never 92. A contract of sale may be__________. (a) Conditional (b) Absolute (c) Written (d) All of the above 93. Under the Sale of Goods Act, 1930, goods may be _________. (a) Existing (b) Future (c) Contingent (d) All of the above 94. Where the unpaid seller has attained a decree for the price of the goods, the right of lien _________. (a) Is lost (b) Is at the optioning the court (c) Is at the optioning the seller (d) Can be exercised 95. The rights available to an unpaid seller against the buyer are right to sue for ________. (a) Price (b) Damages (c) Interest (d) All of the above 96. An agreement to sell in respect of goods is an executory contract which creates ___________. (a) A just in personam (b) A just in rem (c) Both (a) and (b) (d) Neither (a) nor (b) 97. A contract of sale of contingent goods is _________. (a) Sale (b) Agreement to sell (c) Unlawful (d) All of the above 98. In a contract of sale of goods, if the seller is not the owner of goods, then the title of the buyer shall: (a) Be same as that of the seller (b) Not be same as that of the seller (c) Be better than that of the seller (d) None of the above 99. ‘A’ buys a readymade shirt for his son, The shirt does not exactly fit his son. Decide. (a) A has no right to return or exchange the same (b) A has right to return the same (c) He will demand for damages (d) He may file a suit for exchange Common Proficiency Test (CPT) Volume - II 231 © The Institute of Chartered Accountants of India MODEL TEST PAPER - 9 100. ‘A’ buys a T.V. set from ‘B’. ‘B’ agrees to deliver the set to ‘A’. After some time during the day, B sells the same to ‘C’ at a higher price. Decide title of the good. (a) ‘C’ gets a good title (b) A gets a good title (c) Nobody gets a goods title (d) None of these SECTION – C : GENERAL ECONOMICS (50 MARKS) 101. If budget deficit is Rs. 11,350 crore and borrowings are Rs. 33,300 crore, what is fiscal deficit? (a) Rs. 11,350 crore (b) Rs. 44,650 crore (c) Rs. 33,300 crore (d) Rs. 21,950 crore 102. Sir Robert Giffen was surprised to find out relationship of price with two other goods, which were: (a) Bread and Rice (b) Meat and Rice (c) Bread and Meat (d) Cheese and Meat 103. If the proportion of income spent on a good remains the same as income increases, then income elasticity for the good in: (a) More than one (b) One (c) Less than one (d) Zero 104. Marginal utility analysis was mainly propounded by: (a) J.B. Say (b) Robbins (c) Adam Smith (d) Alfred Marshall 105. Indifference curve analysis is propounded by: (a) Alfred Marshall (b) Adam Smith (c) Hicks and Allen (d) None of the above 106. Cardinal Measurability of utility means: (a) Utility can be measured (b) Utility cannot be measured (c) Utility can be ranked (d) Utility can be measured in some case 107. Which of the following statements is false? (a) An indifference curve is concave to the origin (b) An indifference curve is convex to the origin (c) A higher indifference curve is better than a lower indifferent curve (d) An indifference curve is a curve which represents all those combinations of two goods which give same satisfaction to the consumer. 232 Common Proficiency Test (CPT) Volume - II © The Institute of Chartered Accountants of India 108. Identify the factor which generally keeps the price-elasticity of a demand for a good high. (a) Its very high price (b) Its very low price (c) Large number of substitutes (d) None of the above 109. Suppose price of fashionable Shirts rises from Rs. 400 per piece to Rs. 700 per piece. The Shopping Mall manager observes that the rise in price causes demand for shirts to fall from 500 shirts per week to 300 shirts per week. What is the price elasticity of demand for shirts? (a) 0.916 (b) 1.5 (c) 1 (d) 1.667 110. The basic distinction between M1 and M2 is in the: (a) Treatment of post office deposits (b) Treatment of time deposits of banks (c) Treatment of saving deposits of banks (d) Treatment of currency 111. After 1950, commercial banks in India were nationalized: (a) Once in 1969 (b) Twice in 1969 and 1980 (c) Thrice in 1969, 1980 and 1991 (d) None of the above 112 In order to increase money supply in the country, the RBI may: (a) Reduce CRR (b) Increase CRR (c) Sell securities in the open market (d) Increase Bank Rate 113 Monetary Policy is given by: (a) RBI (b) Planning Commission (c) Finance Minister (d) Monetary Bank of India 114 Which of the following is incorrect? (a) The shape of the average cost and marginal cost curve is ‘U’ (b) The AR and MR curves of a firm under perfect competition are parallel to X-axis. (c) At Equilibrium AR=MR (d) At Equilibrium MC=MR 115 The slope of indifference curve indicates: (a) Price ratio between two commodities (b) Marginal rate of substitution (c) Factor substitution (d) Level of indifference Common Proficiency Test (CPT) Volume - II 233 © The Institute of Chartered Accountants of India MODEL TEST PAPER - 9 116 If the quantity of Banana demanded in 100 kg and quantity supplied is 50 kg, then price per kg of Banana is: (a) Rs.18 (b) Rs.24 (c) Less than equilibrium price (d) Greater than equilibrium price 117. Suppose Mohan & Co. produces 10 units of output and incurs Rs. 30 per unit of variable cost and Rs. 5 per unit of fixed cost. In this case, total cost is: (a) Rs. 300 (b) Rs. 35 (c) Rs. 305 (d) Rs. 350 118. A condition needed for a perfectly competitive industry to exist is that: (a) Buyers are able to influence the price of the commodity (b) Any units of commodity are considered by buyers to be different (c) Buyer discriminates in their purchases based on non-price factors. (d) There are no obstacles to the free mobility of resources. 119. If the price of petrol rises by 25% and demand for car falls by 40% then, cross elasticity between petrol and car is: (a) -1.6 (b) 1.6 (c) -2.6 (d) 2.6 120. Which of the following statements is correct? (a) Economic laws are mere statement of tendencies (b) Economics laws are as exact as physical laws (c) Economics laws are permanent (d) All of the above 121. If after selling 10 units, a seller realises Rs. 12, 000 and after selling 15 units he realises Rs.20, 000 what is the marginal revenue here? (a) Rs. 1500 (b) Rs. 1600 (c) Rs. 8000 (d) Rs. 2000 122. Under which market structure, the control of firm over price is nil? (a) Perfect competition (b) Monopoly (c) Oligopoly (d) Monopolistic Competition 123. If as a result of 80 percent increase in all inputs, the output increases by 25 percent, this is a case of: (a) Increasing return to scale (b) Decreasing return to factor (c) Decreasing returns to scale (d) Diminishing return to factor 234 Common Proficiency Test (CPT) Volume - II © The Institute of Chartered Accountants of India 124. When marginal product is negative, then total product is: (a) Maximum (b) Decreasing (c) Constant (d) None of the above 125. In the long run, a firm in monopolistic competition: (a) Always earns super profits (b) Incurs losses (c) Earns normal profit only (d) May earn normal profits, super normal profits or incur losses. 126. Assume that when price is Rs.40 quantity demanded is 9 units, and when price is Rs. 38, quantity demanded is 10 units. Based on this information, what is the marginal revenue resulting from an increase in output from 9 units to 10 units? (a) Rs.20 (b) Rs.40 (c) Rs.38 (d) Rs.1 127. Suppose a firm is producing at level of output, such that MR>MC what should be the firm do to maximise profit? (a) The firm should increase output (b) The firm should do nothing (c) The firm should hire less labour (d) The firm should decrease price 128. Marginal Revenue is equal to (a) Change in quantity, divided by the change in price (b) Change in price divided by change in output (c) The change in PxQ due to a one unit change in output (d) None of above 129. Suppose that an owner is earning total revenue of Rs.1,00,000 and is increasing explicit cost of Rs.60,000. If the owner could work for another company for Rs.30,000 a year, we would conclude that: (a) The firm is earning economic profit or Rs. 10,000 (b) The firm is earning accounting profit or Rs. 40,000 (c) The firm is earning economic profit of Rs. 40,000 (d) Both (a) and (b) 130. Which is not the essential condition of pure competition? (a) Large number of buyers and sellers (b) Homogeneous product (c) Freedom of entry (d) Perfect knowledge among buyers and sellers Common Proficiency Test (CPT) Volume - II 235 © The Institute of Chartered Accountants of India MODEL TEST PAPER - 9 131. What is the shape of A R curve faced by a firm under perfect competition? (a) Horizontal (b) Vertical (c) Positively sloped (d) Negatively sloped 132. Which of the following is the condition for equilibrium of a firm? (a) AC = AR (b) MR = AR (c) MC = MR (d) AC = MR 133. ___________________ measure estimates the number of persons who may be said to be chronically unemployed. (a) Usual Status (b) Current Weekly Status (c) Current Daily Status (d) Current Yearly Status 134. When due to introduction of new equipments, some workers tend to be replaced by equipments; their unemployment is termed as __________ (a) Structural (b) Seasonal (c) Frictional (d) Technological 135. Every__________ person in the world is an Indian (a) Second (b) Sixth (c) Fifth (d) Ninth 136. __________ measures generally gives the lowest estimate of unemployment. (a) CWS (b) Usual Status (c) CDS (d) CMS 137. Which of the following statements is correct? (a) Countries which are industrially well-developed generally have higher per-capital income than countries which are not. (b) India is a capital surplus economy (c) Agriculture sector need not depend upon industrial sector for its growth (d) None of the above 138. Mahalanobis model stressed upon the establishment of: (a) Consumer goods industries (b) Export oriented industries (c) Agro-based industries (d) Capital and basic goods industries 236 Common Proficiency Test (CPT) Volume - II © The Institute of Chartered Accountants of India 139. If income elasticity of the household for good X is 3 then it is a: (a) Normal Good (b) Necessity Good (c) Luxury Good (d) Inferior Good 140. Which of the following is not included in foreign exchange reserves? (a) Foreign currency assets held by RBI (b) Gold holding of the RBI (c) Special Drawings Rights (d) None of the above 141. Based II framework is for: (a) Banks (b) Insurance Companies (c) RBI (d) None of the above 142. The total area under the demand curve of good measures: (a) Marginal utility (b) Total utility (c) Consumers surplus (d) Producer surplus 143. Which of the following is not a quantitative measure of credit control? (a) Bank rate policy (b) Open market operation (c) Margin requirement (d) Variable reserve requirement 144. Integration of the domestic economy with the world economy is called____. (a) Liberalisation (b) Globalisation (c) Privatisation (d) Disinvestment 145. Which of the following is not an indirect Tax Reform? (a) Reducing the peak rate of custom duties (b) Rectifying anomalies like inverted duty structure (c) Introduction of VAT for achieving harmonized taxation regime (d) The tax rate on foreign companies has also been reduced from 55% to 40% 146. Occupational structure refers to the: (a) Number of workers living in a country. (b) Size of working population in the industrial sector (c) Distribution of working population among different occupations (d) Nature of different occupation in the economy 147. Which of the following is not a characteristic of a price taker? (a) Negatively Sloped Demand Curve (b) TR = P x Q (c) AR = Price (d) MR = AR Common Proficiency Test (CPT) Volume - II 237 © The Institute of Chartered Accountants of India MODEL TEST PAPER - 9 148. All are features of monopoly except: (a) There is a single seller (b) The firm is a price taker (c) The firm produces a unique product (d) The existence of some advertising 149. A monopolist is able to maximize his profits when: (a) His output is maximum (b) He charges a higher price (c) His average cost is minimum (d) His marginal cost is equal to marginal revenue 150. ___________ is the difference between total receipts and total expenditure (a) Fiscal Deficit (b) Budget Deficit (c) Capital Deficit (d) Revenue Deficit SECTION – D : QUANTITATIVE APTITUDE (50 MARKS) x 17 x+y = 151. If x+y 23 , what is x−y equal to 11 17 (a) (b) 23 32 23 (c) (d) None of these 11 25 x 152. If 1+ =1+ , then x is 144 12 (a) 1 (b) 2 (c) 3 (d) None of these ( ) 8 153. If (4)3 × 2 = 2n, then n is (a) 10 (b) 12 (c) 13 (d) None of these 154. A number of men went to a hotel and each spent as many rupees as there were men. If the money spent was Rs. 15625; find the number of men. (a) 110 (b) 125 (c) 145 (d) None of these 238 Common Proficiency Test (CPT) Volume - II © The Institute of Chartered Accountants of India 155. A, B and C have to distribute Rs. 1,000 between them, A and C together have Rs. 400 and B and C Rs. 700. How much does C have? (a) Rs. 100 (b) Rs. 200 (c) Rs. 150 (d) None of these a+b 1 = 156. If log (log a + log b), the value of a2 + b2 is 2 2 (a) 6ab (b) 8ab (c) 6a262 (d) None of these 157. If log x = 4, then the value of x is 10 (a) 100 (b) 1000 (c) 10000 (d) None of these 158. If log 2 = 0.301 and log 3 = 0.477, then the value of log 225 is: (a) 2.352 (b) 3.452 (c) 7.452 (d) None of these 159. If log 2 = 0.3010, find the number of digits in 2100 (a) 36 (b) 31 (c) 38 (d) None of these 160. If nP = 60, then the value of n is 3 (a) 3 (b) 10 (c) 5 (d) None of these ax +bx −2 161. Evaluate lim x→0 x a (a) log ab (b) log b (c) log (a – b) (d) None of these 10x −5x −2x +1 162. Evaluate lim x→0 x (a) 1 (b) 0 (c) log 5 × log 2 (d) None of these Common Proficiency Test (CPT) Volume - II 239 © The Institute of Chartered Accountants of India MODEL TEST PAPER - 9 10x −5x −2x +1 163. Evaluate lim x→0 x2 (a) log 5 × log 2 (b) log 5 + log 2 (c) 0 (d) None of these e5x −e3x −e2x +1 164. Evaluate lim x→0 x (a) 6 (b) 0 (c) 1 (d) None of these e5x −e3x −e2x +1 165. Evaluate lim x→0 x (a) 6 (b) 0 (c) 1 (d) None of these 1 ∫ dx 166. Evaluate: x2 +a2 ( ) ( ) (a) log x+ x2 +a2 +c (b) log x+ x2 −a2 +c ( ) (c) log x− x2 −a2 +c (d) None of these 1 ∫ dx 167. Evaluate: x2 −a2 ( ) ( ) (a) log x− x2 −a2 +c (b) log x+ x2 +a2 +c ( ) (c) log x+ x2 −a2 +c (d) None of these 1 ∫ 168. Evaluate dx 9x2 −1 1 ⎛3x+1⎞ 1 ⎛3x−1⎞ (a) log⎜ ⎟ +c (b) log⎜ ⎟ +c 6 ⎝3x−1⎠ 6 ⎝3x+1⎠ 1 ⎛3x+2⎞ (c) log⎜ ⎟ +c (d) None of these 3 ⎝3x+2⎠ 240 Common Proficiency Test (CPT) Volume - II © The Institute of Chartered Accountants of India x-1 ∫ dx 169. Evaluate x2 +1 ( ) (a) x2 +1−log x+ x2 +1 +c ( ) (b) x−1−log x+ x−1 +c ( ) (c) x2 +1−log x+ x−1 +c (d) None of these 170. Evaluate ∫ (1−x2)logx dx ( ) ⎛ x2 ⎞ 1−x2 x log x−⎜1− ⎟+c (a) ⎝ 9 ⎠ ( ) ⎛ x2 ⎞ 1−x2 log x−⎜1+ ⎟+c (b) ⎝ 9 ⎠ ⎛ x2 ⎞ ⎛ x3 ⎞ ⎜1− ⎟xlogx−⎜x− ⎟+c (c) ⎝ 3 ⎠ ⎝ 9 ⎠ (d) None of these 171. From a panel of 4 doctors, 4 officers and one doctor who is also an officer, how many committee of 3 can be made if it has to contain at least one doctor and one officer? (a) 76 (b) 78 (c) 80 (d) None of these 172. In an election, there are five candidates contesting for three vacancies; an elector can vote any number of candidates not exceeding the number of vacancies. In how many ways can one cast his votes? (a) 12 (b) 14 (c) 25 (d) None of these 173. In how many ways can 12 different things be equally distributed among 4 groups? (a) 15,400 (b) 15,000 (c) 14,400 (d) None of these Common Proficiency Test (CPT) Volume - II 241 © The Institute of Chartered Accountants of India MODEL TEST PAPER - 9 174. The number of factors of 420 is (a) 20 (b) 22 (c) 25 (d) None of these 175. Five balls of different colours are to be placed in three boxes of different sizes. Each box can hold all the five balls. In how many different ways can we place the balls so that no box remains empty? (a) 100 (b) 120 (c) 150 (d) None of these 176. Find the sum of the series. 243 + 324 + 432 + …………………. to n terms ⎛ 4n ⎞ ⎛ 4n ⎞ 36⎜ −1⎟ 34⎜ −1⎟ (a) (b) ⎝3n ⎠ ⎝3n ⎠ ⎛ 3n ⎞ 36⎜ −1⎟ (c) (d) None of these ⎝4n ⎠ 177. The sum of the first eight terms of a G.P. is five times the sum of the first four terms; then the common ratio is – (a) 2 (b) – 2 (c) ± 2 (d) None of these 178. The sum of the following series 4 + 44 + 444 + ………… to n term is: 4 ⎡ 10(10n −1) ⎤ 4 ⎡ 10(10n −1) ⎤ ⎢ −n⎥ ⎢ +n⎥ (a) (b) 9⎣ 9 ⎦ 9⎣ 9 ⎦ 10(10n −1) (c) +n (d) None of these 9 179. The Arithmetic Mean between two numbers is 15 and their G.M. is 9; then the numbers are (a) 27,3 (b) 9, 9 (c) 16, 9 (d) None of these 180. The product of n G.M.s between the two given numbers is equal to the n power of the single G.M. between them. This statement is – (a) True (b) False (c) Cannot say (d) None of these 242 Common Proficiency Test (CPT) Volume - II © The Institute of Chartered Accountants of India 181. The weighted arithmetic mean of first n natural numbers whose weights are equal to the corresponding numbers is equal to: 2n+1 2(2n+1) (a) (b) 3 2 n(n+1) (c) (d) None of these 2 182. The mean weight of 15 persons is 110 kg. The mean weight of 5 of them is 100 and another 5 is 125 kgs. What is the mean weight of the remainder? (a) 110 kgs. (b) 105 kgs. (c) 100 kgs. (d) None of these 183. The sum of diviations of certain number of items measured from 2.5 is 50 and the sum of deviations of the same series measured from 3.5 is –50. Find the number of observations and their mean? (a) 100, 3 (b) 200, 6 (c) 100, 4 (d) None of these 184. The most reliable central value is (a) Mean (b) Median (c) Mode (d) (a) and (b) both 185. In which Central value arranging is required. (a) Mean (b) G.M. (c) Median (d) H.M. 186. The chance of 53 Tuesdays in a year is 2 1 (a) (b) 7 7 3 (c) (d) None of these 7 187. Two unbiased dice are thrown. Find the probability that sum of the faces is not less than 10. 1 5 (a) (b) 6 6 2 (c) (d) None of these 3 Common Proficiency Test (CPT) Volume - II 243 © The Institute of Chartered Accountants of India MODEL TEST PAPER - 9 1 2 188. The probability that a person travels by a plane is and that he travels by train is Find 5 3 the probability of his traveling neither by plane nor by train? 13 2 (a) (b) 15 15 1 (c) (d) None of these 15 189. A card is drawn from a well shuffled pack of playing cards. Find the probability that it is either a diamond or a king. (a) 5/13 (b) 3/13 (c) 4/13 (d) None of these 190. A problem in statistics is given to two students A and B. The odd in favour of A solving the problem are 6 to 9 and against B Solving the problem are 12 to 10. If both A and B attempt, find the probability of the problem being solved. (a) 0.673 (b) 0.237 (c) 0.255 (d) None of these 191. For a binomial distribution is 7 and its Standard Deviation is 8 . This statement is (a) True (b) False (c) Cannot say (d) None of these 192. The mean and variance of a binomial distribution and 3 and 2 respectively. Find the probability that the variate takes values less than or equal to 2. (a) 0.3767 (b) 0.3760 (c) 0.3067 (d) None of these 193. Two digits are selected at random from the digits 1 through 9. Find the probability that their sum is even. 2 7 5 5 (a) , (b) , 9 18 9 18 4 5 (c) , (d) None of these 9 18 244 Common Proficiency Test (CPT) Volume - II © The Institute of Chartered Accountants of India 194. A die is thrown twice and the sum of the number appearing is observed to be 6. What is the conditional probability that the number 4 has appeared at least once? 3 2 (a) (b) 5 5 4 (c) (d) None of these 5 195. It is observed that 80% of television viewers watch “Kahani Ghar Ghar Ki” Programme. What is probability that at least 80% of the viewers in a random sample of five watch this programme? (a) 0.7021 (b) 0.73728 (c) 0.63728 (d) None of these 196. A simple random sample of size 36 is drawn from a finite population consisting of 101 units. If the population Standard Deviation is 12.6, find the Standard Error of sample mean when the sample is drawn with replacement. (a) 2.1 (b) 1.69 (c) 2.23 (d) None of these 197. A simple random sample of size 36 is drawn from a finite population consisting of 101 units. If the population Standard Deviation is 12.6, find the Standard Error of sample mean when the sample is drawn without replacement. (a) 2.1 (b) 1.69 (c) 2.45 (d) None of these 198. A random sample of size 9 is drawn without replacement from a finite population consisting of 25 units. If the number of defective units in the population be 5, find the Standard Error of the sample proportion of defectives. (a) 0.1288 (b) 0.1088 (c) 0.0588 (d) None of these 199. A population consists of 4 numbers. Find the number of sample of size 2 for with replacement condition. (a) 16 (b) 6 (c) 10 (d) None of these 200. A population consists of 4 numbers. Find the number of sample of size two for without replacement condition. (a) 16 (b) 6 (c) 10 (d) None of these ❖❖❖ Common Proficiency Test (CPT) Volume - II 245 © The Institute of Chartered Accountants of India © The Institute of Chartered Accountants of India BOARD OF STUDIES THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA COMMON PROFICIENCY TEST Model Test Paper – BOS/CPT –10 Time : 4 hours Maximum Marks : 200 The test is divided into four sections. Questions 1 to 200 have only one correct answer and carry + 1 mark for each correct answer and – 0.25 mark for each wrong answer. SECTION – A : FUNDAMENTALS OF ACCOUNTING (60 MARKS) 1. Cash discount allowed to a debtors should be credited to (a) Debtors A/c (b) Purchase A/c (c) Discount A/c (d) Sales A/c 2. On 31st December, 2009 Ashok Ltd. purchased a machine from Mohan Ltd., for Rs. 1,75,000. This is (a) A transaction (b) An event (c) None of these (d) A transaction as well as an event 3. Prepaid commission has a (a) Negative balance (b) Debit balance (c) Credit balance (d) None of these 4. The following account will have debit balance (a) Loan to other party (b) Capital A/c (c) Outstanding salary (d) Reserve for doubtful debts C24o7mmon Proficiency Test (CPT) Volume - II 247 © The Institute of Chartered Accountants of India MODEL TEST PAPER - 10 5. A sum of Rs. 50,000 was spent on painting the new plant. It is a (a) Revenue expenditure (b) Capital expenditure (c) Deferred revenue expenditure (d) None of these 6. Bills receivables is a (a) Intangible fixed assets (b) Tangible fixed assets (c) Current assets (d) Investment 7. Prepaid insurance account is a (a) Nominal A/c (b) Personal A/c (c) Real A/c (d) None of the above 8. Under annuity method, interest is calculated on (a) Written down value (b) Original cost (c) Scrap value (d) None of the above 9. Stock should be out of godown in the sequence in which they arrive is based on (a) HIFO (b) FIFO (c) Weighted overage (d) LIFO 10. All the expenditures of revenue nature go to (a) Balance Sheet (b) Trading A/c (c) Profit & Loss A/c (d) Either (b) or (c) 11. Memorandum joint venture account is prepared (a) When each co-venturer keeps records of their own joint venture transactions (b) When separate set of joint venture books is prepared (c) When each co-venture keep records of all the joint venture transaction himself (d) None of the three 12. The party who sends the goods for sales on fixed commission basis is known as (a) Drawer (b) Drawee (c) Payee (d) Consignor 13. Endorsement, discounting and collection of bills of exchange is made by (a) Debtors (b) Creditors (c) Drawee (d) Drawer 14. Returns Inward, appearing in the trial balance are deducted from (a) Purchases (b) Capital (c) Sales (d) None of the above 248 Common Proficiency Test (CPT) Volume - II © The Institute of Chartered Accountants of India 15. Drawings is deducted from (a) Capital (b) Sales (c) Purchases (d) None of the above 16. Purchase of Plant & Machinery on credit basis is recorded in (a) Cash book (b) Journal proper (c) Purchases (d) Both (a) and (b) 17. The trial balance of Rajesh Ltd. shows closing inventories of Rs. 90,000. It will be recorded in (a) Profit & Loss A/c (b) Trading A/c (c) Balance Sheet (d) None of the above 18. Loss on issue of debentures is treated as (a) Miscellaneous capital expenditure (b) Current assets (c) Intangible assets (d) Current Liabilities 19. A proforma invoice is sent by (a) Debtors to consignee (b) Debtors to consignor (c) Consignor to consignee (d) None of three 20. Noting charges are paid at the time of (a) Renewal of the bill (b) Retirement of the bill (c) Dishonour of the bill (d) None of the three 21. Accounting has certain norms to be observed by the accountants in recording of transactions and preparation of financial statement. These norms reduce the vagueness and chances of misunderstanding by harmonizing the varied accounting practices. These norms are (a) Accounting Standards (b) Accounting framework (c) Accounting regulations (d) Accounting guidance notes 22. An undervaluation of previous year’s opening inventory will (a) Cause current year’s net income to be overstated (b) Cause previous years net income to be understated (c) Cause previous years net income to be overstated (d) None of the above Common Proficiency Test (CPT) Volume - II 249 © The Institute of Chartered Accountants of India MODEL TEST PAPER - 10 23. Parul accepted a bill for 90 days of Rs. 10,000 drawn by Rahul on 10 Feb., 2010. On 18th March, 2010, Parul wished to retire the bill, Rahul offered rebate @ 12% p.a. considering the year of 360 days rebate amount will be (a) Rs. 184 (b) Rs. 150 (c) Rs. 180 (d) None of the above 24. Sohan draws a 40 days bill on Rohan on 20th Jan 2010. The bill matures on (a) March 4, 2010 (b) February 29, 2010 (c) March 1, 2010 (a) None of these 25. The trial balance checks (a) Valuation of closing stock (b) valuation of assets (c) valuation of liabilities (d) Arithmetical accuracy of books of accounts. 26. If total sales during the year Rs. 1,00,000; Cash sales Rs. 20,000 and outstanding debtors at the end of the year Rs. 30,000 then cash received from debtors during the year will be (a) Rs. 70,000 (b) Rs. 50,000 (c) Rs. 1,10,000 (d) Rs. 90,000 27. Cost of goods sold Rs. 1,50,000 Closing stock Rs. 40,000 Opening stock Rs. 60,000 Amount of purchases will be (a) Rs. 1,30,000 (b) Rs. 1,70,000 (c) Rs. 50,000 (d) None of the above 28. If a bill of exchange will mature on 15th August but it is a public holiday then the bill will mature on (a) 15 August (b) 16 August (c) 14 August (d) 18 August 29. A, B and C are partners in a firm sharing profits and losses in the ratio of 2:3:5. The firm took separate life policy of Rs. 50,000, Rs. 1,00,000 and Rs. 1,50,000 for A, B and C respectively. The share of B in the policy will be (a) Rs. 90,000 (b) Rs. 1,50,000 (c) Rs. 3,00,000 (d) Rs. 60,000 30. A company purchased a motor car for Rs. 5,00,000. Estimated useful life of the motor car is 15 years and residual value is Rs. 50,000. Rate of depreciation will be (a) 9% (b) 6% (c) 10% (d) 15% 250 Common Proficiency Test (CPT) Volume - II © The Institute of Chartered Accountants of India 31. A company issued Rs. 20,000, 15% debentures at a discount of 10% redeemable after 15 year at a premium of 5%. Loss on issue of debentures will be (a) Rs. 1,400 (b) Rs. 1,000 (c) Rs. 3,000 (d) None of the above 32. Raj Ltd. purchased machinery for Rs. 20,000 payable Rs. 6,500 in cash and the balance by an issue of 10% debentures of Rs. 100 each at a discount of 10%. Discount on issue of debentures will be (a) Rs. 1,000 (b) Rs. 1,500 (c) Rs. 1,400 (d) None of these 33. A firm had an unrecorded investment of worth Rs. 50,000. Entry in the firms journal on admission of a partner will be (a) Partner Capital A/c Dr. 50,000 To Revaluation A/c 50,000 (b) Revaluation A/c Dr. 50,000 To Partner’s capital 50,000 (c) Unrecorded investment A/c Dr. 50,000 To Revaluation A/c 50,000 (d) Revaluation A/c Dr. 50,000 To Unrecorded investment A/c 50,000 34. Gaining ratio is applied when (a) A partner is insolvent (b) A partner is admitted (c) A partner retires (d) All of the above 35. Interest on capital at 12% p.a. is to be allowed. Capital in the beginning was Rs. 6,00,000. Interest amount will be (a) Rs. 70,000 (b) Rs. 72,000 (c) Rs. 60,000 (d) Rs. 75,000 36. Lal & Co. issued 10,000 debentures of Rs. 100 each at a discount of 4% redeemable after 5 years at a premium of 6%. Loss on issue of debentures will be (a) Rs. 60,000 (b) Rs. 1,60,000 (c) Rs. 1,00,000 (d) Rs. 40,000 37. Dismantling and demolition charges is a (a) Deferred Revenue expenditure (b) Capital expenditure (c) Revenue expenditure (d) None of the above Common Proficiency Test (CPT) Volume - II 251 © The Institute of Chartered Accountants of India MODEL TEST PAPER - 10 38. On equity share of Rs.20, the company has called up Rs.18 but actually received Rs. 16. The share capital would be credited by (a) Rs. 20 (b) Rs. 18 (c) Rs. 16 (d) Rs. 10 39. Net salary paid to employees Rs. 5,00,000 in cash after deducting income tax Rs. 50,000 professional tax Rs. 10,000. Salary A/c will be debited with (a) Rs. 5,00,000 (b) Rs. 4,40,000 (c) Rs. 5,60,000 (d) Rs.4,50,000 40. Ram and Mohan are partners sharing profits equally. They admitted Sohan for 1/3 share in the firm. The new profit sharing ratio will be (a) 2:2:1 (b) 1:1:1 (c) 1:2:3 (d) 3:2:1 41. A, B and C are partners sharing profits and losses in the ratio of 5:4:3. C retires and if A and B share profits of C in 4:3 then new profit sharing ratio will be (a) 5:4 (b) 4:3 (c) 5:3 (d) 47:37 42. Following figures have been taken from the trial balance of a trader: Cost of goods sold 45,000 Sales 60,000 Closing Stock 10,000 The amount of gross profit will be (a) Rs. 15,000 (b) Rs. 25,000 (c) Rs. 5,000 (d) None of those 43. In January 2007, a trader purchased machinery for Rs. 1,00,000 depreciation is charged @ 20% by diminishing balance method. At the end of the third year it was sold for Rs. 31,000. Profit or loss on sale will be (a) Loss Rs.20,200 (b) Loss Rs.40,000 (c) Profit Rs.20,000 (d) Profit Rs.20,200 44. Net profit before charging manager’s commission is Rs. 24,000 and the manager is to be allowed a commission of 20% on the profit after charging such commission. Commission amount will be (a) Rs. 4,000 (b) Rs. 4,800 (c) Rs. 4444.44 (d) None of the above 252 Common Proficiency Test (CPT) Volume - II © The Institute of Chartered Accountants of India 45. Amount spent on “Structural alteration” under pressure of law is a (a) Capital loss (b) Revenue expenditure (c) Capital expenditure (d) Deferred revenue expenditure 46. M, N and O share profits and losses in the ratio of 3:2:1. Upon admission of D, they agreed to share 5:4:2:1. The sacrificing ratio will be (a) Nil : Nil : 1/l2 (b) Nil : 1/12 : Nil (c) 1/12 : Nil : Nil (d) None of the above 47. A was holding 100 shares of Rs. 10 each of a company on which he had paid Rs. 4 on application and Rs. 3 allotment, but could not pay Rs. 2 on first call. Forfeited share A/c will be credited with (a) Rs. 500 (b) Rs. 400 (c) Rs. 700 (d) Rs. 600 48. The following information pertains to Arjun Ltd. (1) Equity share capital called up Rs. 1,00,000 (2) Calls in arrear Rs. 10,000 (3) Calls in advance Rs. 10,000 (4) Proposed dividend 15% The amount of proposed dividend payable is (a) Rs. 15,000 (b) Rs. 13,500 (c) Rs. 85,000 (d) None of the above 49. Ram Ltd. purchased the business of Rahim Ltd. for Rs. 9,00,000 payable in fully paid shares of Rs. 100 each. Shares were issued at a premium of 25%. Number of shares issued against purchased consideration will be (a) 7,200 shares (b) 10,800 shares (c) 2,250 shares (d) 6,750 shares 50. Credit balance in the ledger will be (a) A revenue or an asset (b) A revenue or a liability (c) An expenses or an asset (d) None of the above 51. Gross profit is the difference between (a) Sales and cost of goods sold (b) Sales and total expenses (c) Sales and purchases (d) None of the above 52. Closing entry for transfer of net profit Rs. 6,300 to the capital a/c will be (a) Trading A/c 6,300 Dr. To Balance sheet 6,300 (b) Trading A/c 6,300 Dr. To Profit & Loss A/c 6,300 (c) P & L A/c 6,300 Dr. To Capital A/c 6,300 (d) Capital A/c 6,300 Dr. To P& L A/c 6,300 Common Proficiency Test (CPT) Volume - II 253 © The Institute of Chartered Accountants of India MODEL TEST PAPER - 10 53. The total of “Discount allowed” column in the Cash book for the month of July, 2010 amounting to Rs. 10,000 was not posted. Rectifying entry for the same will be (a) Discount A/c Dr. 10,000 To Suspense A/c 10,000 (b) Suspense A/c Dr. 10,000 To Discount A/c 10,000 (c) Customer A/c Dr. 10,000 To Discount A/c 10,000 (d) None of the above 54. After preparing the trial balance the accountant find that the total of the credit side is short by Rs. 2,000. This difference will be (a) Debited to Suspense A/c (b) Credited to suspense A/c (c) Adjusted to any of the credit balance A/c (d) Adjusted to any of the debit balance A/c 55. Goods purchased for Rs. 2,00,000 and were sold for Rs. 1,60,000. Margin 20% on sales. Closing stock is …. (a) Rs. 32,000 (b) Rs. 72,000 (c) Rs. 50,000 (d) None of the above 56. Journal entry for wages paid Rs. 3,000 for installation of plant will be (a) Dr. Plant repairs A/c and Cr. Cash A/c Rs. 3,000 (b) Dr. Wages A/c and Cr. Cash A/c Rs. 3,000 (c) Dr. Plant A/c and Cr. Cash A/c Rs. 3,000 (d) None of the above 57. On June 1, Sahil paid salary amounting Rs. 20,000. This is (a) A transaction (b) An event (c) Both (a) and (b) (d) None of the above 58. Ram sells goods at cost plus 40%. Total sales were Rs. 21,000. Cost price of the goods will be (a) Rs. 8,400 (b) Rs. 15,000 (c) Rs. 12,600 (d) Rs. 20,000 59. Bright stationery used stationery for business purposes Rs. 500. Amount will be credited to (a) Purchases A/c (b) Sales A/c (c) Cash A/c (d) None of the above 60. Goods destroyed by fire Rs. 50,000 and insurance company admitted full claim. Claim receivable will be recorded in (a) Trading A/c (b) P & L Appropriation A/c (c) P & L A/c (d) Balance Sheet 254 Common Proficiency Test (CPT) Volume - II © The Institute of Chartered Accountants of India SECTION – B : MERCANTILE LAWS (40 MARKS) 61. Under the Sale of Goods Act, 1930 price means (a) Consideration in money (b) Transfer value of goods (c) Revenue consideration (d) Economic Exchange Value 62. An agreement to share the benefits of a public office (a) Valid (b) Voidable (c) Void (d) None of the above 63. Agreement which are in nature of bets and gambling are called (a) Invalid agreements (b) Voidable contracts (c) Contingent contracts (d) Wagering agreements 64. Offer implied from conduct of parties or from circumstances of the case is called (a) General offer (b) Specific offer (c) Express offer (d) Implied offer 65. Consideration without agreement are valid in case (a) Out of love and affection (b) Compensation for past voluntary series (c) Promise to pay time barred debt (d) All of the above 66. In case of sale on approval, the ownership is transferred to the buyer when he (a) Accepts the goods (b) Adopts the transaction (c) Fails the return goods (d) In all the above cases 67. Novation may take place between (a) Different parties (b) The same parties (c) (a) or (b) (d) (a) and (b) 68. Recission of a contract means (a) The renewal of original contract (b) Cancellation or termination of contract (c) Substitution of new contract (d) Alteration of contract 69. Discharge of contracts by implied consent does not include (a) Novations (b) Actual performance (c) Merger (d) Waiver Common Proficiency Test (CPT) Volume - II 255 © The Institute of Chartered Accountants of India MODEL TEST PAPER - 10 70. On the valid performance of the contractual obligation by the parties, the contract (a) Is discharged (b) Becomes enforceable (c) Becomes void (d) None of above 71. A contract is discharged by alteration which means the (a) Acceptance of loser performance (b) Cancellation of the existing contract (c) Change in one or more terms of contract (d) abandonment of rights by a party 72. A change in nature of obligation of contract known as (a) Alteration (b) Repudiation (c) Innovation (d) Rescission 73. Which of the following persons can perform the contract? (a) Promisor alone (b) Agent of the promisor (c) Legal representatives of promisor (d) All of these 74. Which of the remedies not available to a defrauded party? (a) Consideration of the contract (b) Rescind the contract (c) Insistence on specific performance (d) Suit for damages 75. A seller is an unpaid seller (a) When only a part of the price has been paid (b) When a cheque has been issued and the payment of the same is stopped (c) When whole of the price has not been tendered (d) Any one of the above 76. When property in goods has not passed to the buyer, the unpaid seller has a right of (a) With holding delivery (b) Stoppage in transit (c) (a) and (b) (d) (a) or (b) 77. A seller agrees to supply a crop which is to be grown by him. This is a (a) An agreement to sell (b) Sale (c) Bailment (d) Contract for work & labour 78. A notice given to a partner is deemed to be a notice given to the firm when notice is given to (a) Any active partner (b) Any partner (c) Sleeping partner (d) All the partner 256 Common Proficiency Test (CPT) Volume - II © The Institute of Chartered Accountants of India 79. On the insolvency of a partner, the insolvent ceases to be a partner in the firm whether the firm is dissolved or not (a) Yes (b) No (c) Practically dissolved (d) Dissolve in capital ratio 80. A contract for sale of certain goods to be manufactured by a seller is a (a) Void contract (b) Future contract (c) Contingent contract (d) Implied contract 81. For loss caused to the firm by his fraud in the conduct of the business, every partner shall identify as a ________. (a) Firm (b) The other partners (c) Only the working partners (d) All the retiring partners 82. A partner may be expelled from the firm by any majority of the partners ________. (a) In good faith (b) Based on the contract between partners (c) Either (a) or (b) (d) Both (a) and (b) 83. A person who lends his name to the firm, without having any real interest in it is called (a) A nominal partner (b) A sleeping partner (c) A working partner (d) A active partner 84. On the valid performance of the contractual obligations by the parties, the contract __________. (a) Becomes enforceable (b) Is discharged (c) Becomes void (d) None of these 85. A partnership firm cannot use ___________ the words as part of its name. (a) Limited (b) Co-operative (c) Enterprises (d) Both (a) and (b) 86. Which of the following needs to be given to the partners even after dissolution of the firm (a) Interest on advances (b) Interest on capital (c) Remuneration (d) None of the above. 87. ___________ makes the agreement void and neither party can enforce the contract against the other (a) A misrepresentation (b) A mistake (c) An object (d) A consideration Common Proficiency Test (CPT) Volume - II 257 © The Institute of Chartered Accountants of India MODEL TEST PAPER - 10 88. A contract of sale is a contract for sale by sample if it is__________. (a) By operation of law (b) By way of custom or usage of trade (c) By way of an express or implied term in the contract, to that effect (d) By decision of the seller 89. In case of ______________, the term of contract may be altered by mutual consent, but the parties to the contract will remain the same (a) Novation (b) Remission (c) Rescission (d) Alteration 90. Consent should be given ___________. (a) By the person to whom offer is made (b) Without condition (c) In clear terms either oral or written (d) All of the above 91. Revocation of offer can be done by __________. (a) Lapse of time (b) Death of the offeror (c) Counter offer (d) All of the above 92. The terms of offer must be _____________. (a) Definite (b) Certain (c) Unambiguous (d) All the above 93. A proposal when accepted becomes a _____________. (a) Promise (b) Agreement (c) Contract (d) None of the above 94. Under ______________, the goods passes to the buyer only upon payment of last instalment (a) Hire purchase (b) Sale (c) Leasing (d) Instalment purchase. 95. Communication of offer may be by ___________. (a) Words only (b) Conduct only (c) Words or conduct (d) None of the above 96. In case letter of acceptance is lost in transit, it will be deemed to be a valid acceptance if it is proved that the letter___________. (a) Sufficiently stamped (b) Correctly addressed (c) Posted (d) All the above 258 Common Proficiency Test (CPT) Volume - II © The Institute of Chartered Accountants of India 97. The juristic concept of contract consists of __________. (a) Offer and acceptance (b) Consideration and coercion (c) Agreement and obligation (d) Free consent and capacity 98. Advertisement inviting tender is __________. (a) An offer (b) A counter offer (c) An agreement (d) An invitation to offer 99. ‘A’, as surety ‘B’, makes a bond jointly with ‘B’, to ‘C’, to secure a loan from ‘C’ to ‘B’, afterwards, ‘C’ obtains from ‘B’ a further security for the same debt. Subsequently, ‘C’ gives up the further security. Decide. (a) A is discharged (b) A is not discharged (c) B cannot file a suit (d) None of the above 100. ‘A’ and ‘B’ bet as to whether it would rain on a promising to pay Rs. 100 to ‘B’, if it rained, and, ‘B’ promising an equal amount to ‘A’, if it did not. Decide the type of agreement. (a) Contingent contract (b) Quasi contract (c) Wagering contract (d) Implied contract SECTION – C : GENERAL ECONOMICS (50 MARKS) 101. If the proportion of income spent on a good increase as income increases, then income elasticity for the good is: (a) Greater than one (b) Less than one (c) One (d) Infinite 102. Which is not the assumption of marginal utility analysis? (a) Cardinal measurability of utility (b) Constancy of the marginal utility of money (c) Rationality of human behaviour (d) Ordinal Measurability of utility 103. Law of diminishing marginal utility may not apply to: (a) Money (b) Butter (c) Pepsi, Coke etc. (d) Ice cream 104. Which is not the assumption of the law of diminishing marginal utility? (a) The different units consumed should be identifiable in all respects (b) The different units consumed should consist of standard units (c) There should be time gap or interval between consumption of one unit and another unit (d) The law may not apply to hobbies, music etc. Common Proficiency Test (CPT) Volume - II 259 © The Institute of Chartered Accountants of India MODEL TEST PAPER - 10 105. Concept of consumer surplus was evolved by: (a) Allen and Hicks (b) Adam Smith (c) Alfred Marshall (d) Robbins 106. Contraction of demand is the result of: (a) Increase in the price of other good (b) Increase in the price of substitute goods (c) Decrease in the income of the consumer (d) Increase in the price of the good concerned 107. Which of the following method is not used for measuring elasticity of supply? (a) Arc Method (b) Percentage Method (c) Total outlay Method (d) Point Method 108. If the local ice-cream shop raises the price of a ice cream cup from Rs 10 per cup to Rs. 15 per cup, and quantity demanded falls from 500 cups per day to 300 cups per day, the price elasticity of demand for ice-cream cup is: (a) 1 (b) 2.5 (c) 2 (d) 1.25 109. SGSY stands far: (a) Self Gram Swarozgar Yojna (b) Swarnajayanti Gram Swarozgar Yojna (c) Swarnajayanti Gram Sadak Yojna (d) Swarna Gram Swarozgar Yojna 110. Which of the following is not included in M1? (a) Currency (b) Demand Deposits (c) Other deposits with RBI (d) Other deposits with post office 111. In order to increase money supply in the country RBI may: (a) Buy securities in the open market (b) Sell securities in the open market (c) Increase CRR (d) Increase Bank rate 112. Which is not near money? (a) Balance in saving account (b) Balance in current account (c) Both (a) and (b) (d) Time deposits 260 Common Proficiency Test (CPT) Volume - II © The Institute of Chartered Accountants of India 113. Monopoly power refers to the firm’s ability to: (a) Earn economic Profit (b) Restrict entry into the industry (c) Set prices above marginal cost (d) Possess economies of scale 114. In the long run monopolistic competitive firm has: (a) Excess Capacity (b) Excess Profits (c) Zero Fixed cost (d) All of the above 115. Which of the following is a normative statement? (a) Planned economies allocate resources via government departments (b) Reducing inequality should be a major priorities for mixed economies (c) There is greater degree of consumer sovereignty in market economies (d) Most economies have experienced problems of falling output and rising prices 116. The market of computers is not in equilibrium, then which of the following statements is definitely true? (a) The prices of computer will rise (b) The prices of computer will fall (c) The prices of computers will change, but not enough information is given to determine the direction of the change (d) None of the above 117. As the price of Bananas rises: (a) The quantity demanded for bananas increases (b) The demand curve for bananas shifts to the right (c) The quantity demanded for bananas decreases (d) The demand curve far bananas shifts to the left 118. Suppose the short run cost function can be written as TC=250+10Q. Average Fixed cost equals: (a) 250/Q (b) 250 (c) 10 (d) 250/Q+10 119. Gopal inherited 1 acre of land from his father in 1960. Today the value of that land is Rs 90 lakh per acre. What is the opportunity cost to Gopal for keeping that land? His father paid Rs. 50, 000 for this land. (a) Nothing, since the land was inherited (b) Rs.50, 000 which his father paid (c) Rs.90 lakh, since this amount Gopal is getting now if he sells it (d) Both (b) and (c) Common Proficiency Test (CPT) Volume - II 261 © The Institute of Chartered Accountants of India MODEL TEST PAPER - 10 120. Suraj is a high school senior thinking about becoming an economic research assistant. Shyam just graduated from college with an economic degree and is looking for a job as an economic research assistant. For whom is the college tuition an opportunity cost? (a) Suraj (b) Shyam (C) Both Suraj and Shyam (d) Neither Suraj nor Shyam 121. Which of the following is incorrect? (a) The shape of average cost is U-shaped (b) MC Curve cuts AC curve at the minimum level of AC (c) The AR and MR curves of the industry under perfect competition are parallel to X-axis (d) MC curve cuts AVC curve at the minimum level of AVC 122. Other things remaining constant, the law of supply states: (a) Supply for commodities is directly related to its price (b) Price is not related to supply (c) As supply rises, price also rises (d) Supply is not related to factors other than price 123. Kinked demand curve in oligopoly market explains: (a) Price and output determination (b) Existence of very few firms in the market (c) Price rigidity (d) Price leadership 124. Right to own private property is found in: (a) Socialism (b) Capitalism (c) Mixed Economy (d) Both (b) and (c) 125. Which of the following is not a factor of production? (a) Man (b) Labour (c) Capital (d) Entrepreneurs 126. ___________ shows the relationship of output with given inputs. (a) Demand Function (b) Production Function (c) Cost function (d) PPC function 127. TC –TC =which cost function? n n-1 (a) Marginal Cost (b) Average Cost (c) Total Cost (d) None of the above 262 Common Proficiency Test (CPT) Volume - II © The Institute of Chartered Accountants of India 128. Shares traded in the stock market depict characteristics close to_________. (a) Perfect competition (b) Oligopoly (c) Monopolistic Competition (d) Monopoly 129. Assume that when price is Rs.20, quantity demanded in 10 units, and when price is Rs. 19 quantity demanded in 11 units. Based on this information, what is the marginal revenue resulting from an increase in output from 10 units to 11 units. (a) Re.1 (b) Rs.9 (c) Rs.19 (d) Rs.10 130. Which of the following is not a characteristic of a price taker? (a) Positively sloped demand curve (b) TR = PxQ (c) AR = Price (d) Marginal Revenue = Price 131. The cost of one thing in terms of the alternative given up is known as (a) Production cost (b) Real cost (c) Opportunity cost (d) Physical cost 132. With a given supply curve, a decrease in demand causes: (a) An overall decrease in price but an increase in equilibrium quantity (b) An overall increase in price but a decrease in equilibrium quantity (c) No change in overall price but a reduction in equilibrium quantity (d) An overall decrease in price and a decrease in equilibrium quantity 133. ___________ measure generally gives the highest estimate of unemployment especially for poor economy (a) CDS (b) CMS (c) Usual Status (d) CWS 134. IAY stands for: (a) Indira Accomodation Yojana (b) India Awas year (c) Indira Awas Yojana (d) None of the above 135. The measure of absolute poverty is: (a) Used only by India (b) Not related to the income or consumption expenditure distribution (c) Related to the distribution of income or consumption expenditure (d) None of the above Common Proficiency Test (CPT) Volume - II 263 © The Institute of Chartered Accountants of India MODEL TEST PAPER - 10 136. National Population Policy was announced in: (a) 2001 (b) 1999 (c) 2000 (d) 2005 137. Unproductive consumers consist of: (a) Children upto 15 years (b) Adults above 60 years (c) Both (a) and (b) (d) Adults above 65 years 138. Which of the following statements is correct? (a) Agriculture occupies 20% population of India (b) Merely 15% population is below the poverty line (c) The production techniques in India are very advance (d) None of the above 139. ______________ is the top most bank for agricultural loans in India. (a) NABARD (b) RBI (c) SIDBI (d) SBI 140. MR curve and AR curves coincide in (a) Monopoly (b) Monopolistic Competition (c) Oligopoly (d) Perfect Competition 141. Law of increasing return operates due to: (a) Indivisibility of Fixed Factors (b) Division of Labour and specialization (c) Both (a) and (b) (d) Misuse of machinery 142. Law of variable proportion is applicable in: (a) Short run (b) Long run (c) Both Short run and Long run (d) Very Short run 143. Which of the following statements is incorrect? (a) Both AP and MP can be calculated from TP (b) When AP rises then MP>AP (c) When AP is maximum then MP = AP (d) When AP falls, MP also falls but MP>AP 144. Supply of a Commodity is a : (a) Flow concept (b) Stock concept (c) Both stock and flow concepts (d) None of these 264 Common Proficiency Test (CPT) Volume - II © The Institute of Chartered Accountants of India 145. If two goods are perfect substitutes to each other, then is necessarily follows that. (a) An indifference curve relating to the two goods will be curvilinear (b) An indifference curve relating to the two goods will be linear (c) An indifference curve relating the two goods will be concave to the origin (d) An indifference curve relating the two goods will be convex to the origin 146. When the price of a substitute of X commodity falls, the demand for X commodity: (a) Falls (b) Rises (c) Remains unchanged (d) Any of the above 147. Generally supply curve of industrial products is (a) Positively sloped (b) Negatively sloped (c) Both (a) and (b) (d) Parallel to Y axis 148. Which of the following is not a fixed cost? (a) Payment of interest on loan (b) Cost of electricity and fuel (c) Depreciation on building (d) Rent of go down. 149. The relationship between the AC and MC is that (a) MC will always be less than the AC (b) MC will be more than AC when MC is falling (c) AC may be more than MC when MC is rising (d) None of the above 150. Which of the following is not included in M2? (a) M1 (b) Time liabilities portion of saving deposits with bank (c) Certificate of deposits issued by banks (d) Term deposits with banks with maturity over one year SECTION – D : QUANTITATIVE APTITUDE (50 MARKS) 151. The value of 33 + 43 + 53 + …………..+ 113 (a) 4356 (b) 4348 (c) 4347 (d) 4374 152. The sum of two numbers is 75 and their difference is 20. Find the difference of their squares. (a) 1500 (b) 1600 (c) 1550 (d) None of these Common Proficiency Test (CPT) Volume - II 265 © The Institute of Chartered Accountants of India MODEL TEST PAPER - 10 153. The sum of two numbers is 13 and the sum of their squares is 85. Find the numbers. (a) 7, 6 (b) 8, 10 (c) 5, 4 (d) None of these 154. The difference between the squares of two consecutive numbers is 37. Find the numbers. (a) 19, 18 (b) 20, 19 (c) 10, 9 (d) None of these 155. The denominator of a fraction is 3 more than its numerator. If the numerator is increased by 7 and the denominator is decreased by 2, we obtain 2. The fraction is – 3 5 (a) (b) 8 8 7 (c) (d) None of these 8 1 156. If logx 3 = find the value of x 6 (a) 9 (b) 27 (c) 18 (d) None of these 157. The value of alogax is (a) x (b) logx a (c) x2 (d) None of these 158. The value of 32-log36 is 9 3 (a) (b) 5 2 9 (c) (d) None of these 4 159. If log 2 = 0.3010, log 3 = 0.04771 and log 5 = 0.6990, there log 30 (a) 2.5717 (b) 2.4771 (c) 1.4771 (d) None of these 160. If log 12.45 = 1.0952 and log 3.79 = 0.5786, find the value of 10 10 log 124.5 + log 379. 10 10 (a) 5.3782 (b) 4.6738 (c) 2.6738 (d) None of these 266 Common Proficiency Test (CPT) Volume - II © The Institute of Chartered Accountants of India 161. If np : np = 2:1; then the value of n is 5 3 (a) 4 (b) 5 (c) 10 (d) None of these 162. A room has 10 doors. In how many ways can a man enter the room by one door and come out by a different door. (a) 90 (b) 100 (c) 50 (d) None of these 163. How many numbers greater than 1000 can be formed with the digits of the number 23416; if the digits are not repeated in the same number. (a) 120 (b) 200 (c) 240 (d) None of these 164. How many numbers can be formed with the digits of the number 112321 that are greater than one lakh? (a) 60 (b) 80 (c) 70 (d) None of these 165. In how many different ways can 17 billiard balls be arranged, if 7 of them are black, 6 red and 4 white. (a) 408408 (b) 4084080 (c) 4004080 (d) None of these xex ∫ dx 166. Evaluate ( x+1 )2 1 (a) ( x+1 )2 ex+c (b) x 1 +1 ex +c 2x e2x +c (c) ( x+1 )2 (d) None of these x-1 ∫ ex dx 167. Evaluate ( x+1 )3 e2x ex +c +c (a) ( x+1 )3 (b) ( x+1 )3 ex (c) ( x+1 )2 (d) None of these Common Proficiency Test (CPT) Volume - II 267 © The Institute of Chartered Accountants of India MODEL TEST PAPER - 10 ∫2 x2dx 168. Evaluate 0 x2 +(2−x)2 (a) 1 (b) 0 (c) 2 (d) None of these dx ∫ 169. Evaluate: x2 −a2 1 x−a 1 x+a log +c log +c (a) (b) 2a x+a 2a x−a 1 x−a − log +c (c) (d) None of these 2a x+a 1 ∫ 170. Evaluate: dx a2 −x2 1 a+x −1 a−x log +c log +c (a) (b) 2a a−x 2a a+x 1 x − a log (c) (d) None of these 2a x + a dy 171. If ex–y + log xy + xy = 0, then is dx y –y (a) (b) x x –x (c) (d) None of these y 268 Common Proficiency Test (CPT) Volume - II © The Institute of Chartered Accountants of India