CPT Online Exam Dates

When will Chartered Accountant Common Proficiency Test online exam conducted, give date???

[Quick Sam]

Here are Chartered Accountant Common Proficiency Test dates;

14th December, 2014 ( Sunday )
First Session ( i.e. Morning Session )
10.30 AM to 12.30 PM ( IST )
Section - A Fundamentals of Accounting
Section - B Mercantile Laws

Second Session (Afternoon Session)
2.00 PM to 4.00 PM ( IST )
Section - C General Economics
Section - D Quantitative Aptitude

Eligibility:

For getting registered for the CA CPT course

A pass at the 10th class examination conducted by an examining body constituted by law in india (an examination recognized by the central government as equivalent thereto).

For appearing at the CA CPT main examination

Appearance at the Senior secondary (10 + 2/intermediate) examination conducted by an examining body constituted by law in india or an examination recognised by the central government as equivalent thereto.
CA CPT Details
Common Proficiency Test (CPT)  Common Proficiency Test (CPT) is a centralized eligibility test to do CA course, which is conducted by Institute of Chartered Accountants of India (ICAI).  The test is taken after 10+2 for admission into Chartered Accountancy course.  The FOUR hour CPT test consists of objective questions covering on FUNDAMENTALS OF ACCOUNTS, MARCANTILE LAW, GENERAL ECONOMICS & QUANTITATIVE APTITUDE.  The CPT test is divided in to TWO sessions; each session contains 100 objective questions.  Session-I contains 100 objective questions; 60 from FUNDAMENTALS OF ACCOUNTS and 40 from MARCANTILE LAW. Each correct answer carries 1 mark, for every wrong answer ¼ mark will be deducted.  Session-II contains 100 objective questions; 50 from GENERAL ECONOMICS and 50 from QUANTITATIVE APTITUDE. Each correct answer carries 1 mark, for every wrong answer ¼ mark will be deducted.  CPT Registration fee will be Rs.6200/- should be paid in the form of DEMAND DRAFT of any Nationalized Bank, in favour of THE SECRETARY, ICAI, CHENNAI.  The application and prospectus cost is Rs.100/- can be paid in cash.  Examination frequency – twice a year – JUNE & DECEMBER every year.  Last date for CPT Registration is - APRIL 4th for JUNE attempt and OCTOBER 4th for DECEMBER attempt.  Examination fee is Rs.1000/- can be paid in cash between APRIL 4th and APRIL 25th for JUNE attempt; between OCTOBER 4th and OCTOBER 25th for DECEMBER attempt.  Results will be announced in the last week of JULY for JUNE attempt and in the last week of JANUARY for DECEMBER attempt. Eligibility Eligibility: 10 + 2 Examination (with any group) or equivalent examination pass/appeared. Age limit: No age limit to appear CPT exam. Examination pattern  Total Marks - 200  Mode of exam - objective  No. of Questions - 200  Duration - 4 hours (in TWO sessions of 2hours each)  Timing - session 1 (10.00 am to 12.00am) - Session 2 (2.00pm to 4.00pm)
SYLLABUS SESSION – I Section A: Fundamentals of Accounting (60 Marks) Objective: To develop conceptual understanding of the fundamentals of financial accounting system. Contents 1. Theoretical Framework (i) Meaning and Scope of accounting (ii) Accounting Concepts, Principles and Conventions (iii) Accounting Standards – concepts, objectives, benefits (iv) Accounting Policies (v) Accounting as a measurement discipline – valuation principles, accounting estimates 2. Accounting Process: Books of Accounts leading to the preparation of Trial Balance, Capital and revenue expenditures, Capital and revenue receipts, Contingent assets and contingent liabilities, Fundamental errors including rectifications thereof. 3. Bank Reconciliation Statement 4. Inventories: Basis of inventory valuation and record keeping. 5. Depreciation accounting: Methods, computation and accounting treatment of depreciation, Change in depreciation methods. 6. Preparation of Final Accounts for Sole Proprietors 7. Accounting for Special Transactions (a) Consignments (b) Joint Ventures (c) Bills of exchange and promissory notes (d) Sale of goods on approval or return basis. 8. Partnership Accounts: Final accounts of partnership firms – Basic concepts of admission, retirement and death of a partner including treatment of goodwill. 9. Introduction to Company Accounts: Issue of shares and debentures, forfeiture of shares, re-issue of forfeited shares, redemption of preference shares Section B: Mercantile Law (40 Marks) Objective: To test the general comprehension of elements of mercantile law Contents 1. The Indian Contract Act , 1872: An overview of Sections 1 to 75 covering the general nature of contract , consideration , other essential elements of a valid contract , performance of contract and breach of contract. 2. The Sale of Goods Act, 1930: Formation of the contract of sale – Conditions and Warranties –Transfer of ownership and delivery of goods – Unpaid seller and his rights. 3. The India Partnership Act, 1932: General Nature of Partnership – Rights and duties of partners –Registration and dissolution of a firm.
SESSION – II Section C: General Economics (50 Marks) Objective: To ensure basic understanding of economic systems, economic behavior of individuals and Organizations. Contents (I) Micro Economics: 1. Introduction to Micro Economics (a) Definition, scope and nature of Economics (b) Methods of economic study (c) Central problems of an economy and Production possibilities curve. 2. Theory of Demand and Supply (a) Meaning and determinants of demand, Law of demand and Elasticity of demand ─ Price, income and cross elasticity (b) Theory of consumer’s behavior – Marshallian approach and Indifference curve approach (c) Meaning and determinants of supply, Law of supply and Elasticity of supply. 3. Theory of Production and Cost (a) Meaning and Factors of production (b) Laws of Production – The Law of variable proportions and Laws of returns to scale (c) Concepts of Costs ─ Short-run and long-run costs, Average and marginal costs, Total, fixed and variable costs. 4. Price Determination in Different Markets (a) Various forms of markets – Perfect Competition, Monopoly, Monopolistic Competition and Oligopoly (b) Price determination in these markets. (II) Indian Economic Development 5. Indian Economy – A Profile (a) Nature of the Indian Economy (b) Role of different sectors – Agriculture, Industry and Services in the development of the Indian economy, their problems and growth (c) National Income of India – Concepts of national income, Different methods of measuring national income, Growth of national income and per capita income in various plans. (d) Basic understanding of tax system of India – Direct and Indirect Taxation 6. Select Aspects of Indian Economy (a) Population – Its size, rate of growth and its implication for growth (b) Poverty – Absolute and relative poverty and main programs for poverty alleviation (c) Unemployment – Types, causes and incidence of unemployment (d) Infrastructure ─ Energy, Transportation, Communication, Health and Education (e) Inflation (f) Budget and Fiscal deficits (g) Balance of payments (h) External debts. 7. Economic Reforms in India (a) Features of economic reforms since 1991
(b) Liberalization, Privatization and Disinvestment(c) Globalization. 8. Money and Banking (a) Money – Meaning and functions (b) Commercial Banks – Role and functions (c) Reserve Bank of India – Role and functions, Monetary policy Section D: Quantitative Aptitude (50 Marks) Objective: To test the grasp of elementary concepts in Mathematics and Statistics and application of the same as useful quantitative tools. Contents 1. Ratio and proportion, Indices, Logarithms 2. Equations: Linear – simultaneous linear equations up to three variables, quadratic and cubic equations in one variable, equations of a straight line, intersection of straight lines, graphical solution to linear equations. 3. Inequalities: Graphs of inequalities in two variables ─ common region. 4. Simple and Compound Interest including annuity ─ Applications 5. Basic concepts of Permutations and Combinations 6. Sequence and Series – Arithmetic and geometric progressions 7. Sets, Functions and Relations 8. Limits and Continuity ─ Intuitive Approach 9. Basic concepts of Differential and Integral Calculus (excluding trigonometric functions) 10. Statistical description of data (a) Textual, Tabular & Diagrammatic representation of data. (b) Frequency Distribution. (c) Graphical representation of frequency distribution – Histogram, Frequency Polygon, Ogive 11. Measures of Central Tendency and Dispersion Arithmetic Mean, Median – Partition Values, Mode, Geometric Mean and Harmonic, Mean, Standard deviation, Quartile deviation 12. Correlation and Regression 13. Probability and Expected Value by Mathematical Expectation 14. Theoretical Distributions Binomial, Poisson and Normal. 15. Sampling Theory: Basic Principles of sampling theory, Comparison between sample survey and complete enumeration, Errors in sample survey, Some important terms associated with sampling, Types of sampling, Theory of estimation, Determination of sample size. 16. Index Numbers

What is the date of Upcoming CPT Online Exam? Will you please tell me.

[Kiran Chandar]

CPT Exam is held twice a year in the month of June and December and the next CPT will hold on Sunday, 14th December 2014.

Important Dates-

The forms available from-
7th October 2014 (10:00 AM)

Last date of submission of form-
28th Oct 2014 (05:30 PM).

CPT Exam Eligibility-

For Registering for CPT-

10th Standard Examination or any other examination as recognized by the central government as equivalent thereto.

For Appearing at CPT-

10 + 2 examination or any other examination as recognized by the central government.

There is no restriction on age for registering for the course.


1. Which of the following should be valued
compulsory at the time of admission of a
partner______
a) Goodwill b) Plant & machinery
c) Land & Buildings d) Furniture & fillings
2. Which Accounts are used to prepare Bank
Reconciliation statement?
a) Cash column & Bank statement
b) Bank column & Bank Statement
c) Cash column & Bank Balance
d) None of the above
3. The opening stock is overstated by Rs.10,000
and closing stock is understated by Rs.15,000.
The impact on the net profit of the current
year is
a) Rs.5,000 overstated
b) Rs.25,000 overstated
c) Rs. 5,000 understated
d) Rs.25,000 understated
4. If nothing is given in the financial statements
about the three accounting assumptions then
it is to be treated as it
a) Is assumed that it is not followed
b) Is assumed to be followed
c) Is assumed to be followed to some extent
d) None of the above
5. A & B have started a Joint Venture for
purchase & Sale of garments. Initial capital
contribution was Rs.25,000 & Rs.50,000. There
is no written agreement about share of P & L
among them. They purchased garments worth
Rs.50,000 & sold for Rs.75,000, the profit to be
shared among them is
a) Rs.8,333 & Rs.16,667
b) Rs.10,000 & Rs.15,000
c) Rs.12,500 & Rs.12,500
d) Rs.20,000 & Rs.5,000
6. Preference shares can be redeemed, unless
they are
a) Partly paid b) Fully paid
c) Transferred d) Re-Issued
7. On 1st April, Mr.A sold goods of Rs.10,000 to B
and drew a bill for 3 months. Mr. A discounted
the bill with bank at 15%. Amount of discount
will be?
a) Rs. 125 b) Rs.250 c) Rs.375 d) None
8. Underwriting commission will not be paid on
shares taken by
a) Promoters b) Employees
c) Directors d) All of these
9. Renewal fee of patents is a ____ expenditure.
a) Capital b) Revenue
c) Differed revenue d) Development
11. The proprietor of the business is treated as
creditor for the capital introduced by him due
to_____ concept.
a) Money measurement b) Cost
c) Entity d) Dual aspect
12. Where a machine produces products of
uniform size, the method of depreciation to be
applied ______
a) Machine Hour method
b) Annuity method
c) Sinking fund method
d) Production units
13. Debentures are shown under the heading____
a) Secured Loans b) Reserves & surplus
c) Capital Reserve d) Current liabilities
14. Fixed assets are held by business for _____
a) Converting into cash
b) Generating revenue
c) Resale
d) None of the above
15. Net realizable value is _______
a) Estimated selling price
b) Estimated cost price plus marketing cost
c) Estimated selling price less cost incurred in
order to make sale
d) Estimated selling price plus cost incurred in
order to make sale
16. In Joint Venture the minimum number of coventureres
is :
a) 2 b) 5 c) 7 d) 4
17. Retirement of a Bill means _____
a) Discounting a Bill
b) Dishonour of a bill
c) Renewal of a bill
d) Payment made before due date
18. What are the options available to the holder of
a bill in the bills of exchange (Besides retaining
the bill, till the due date)?
a) Discount with bank
b) Sent to bank for collection
c) Endorse it to his creditor
d) All of these
19. A Bill is Discounted Rs.10,000. Where is it
shown at the time of preparation of balance
sheet?
a) Liability side of balance sheet
b) Assets side of balance sheet
c) Foot note to Balance sheet
d) Debit side of profit & loss A/c
20. Expenditure spend for Increasing the cinema
hall seats is called_____
a) Capital expenditure
b) Revenue expenditure
c) Deferred revenue expenditure
d) None of the above
21. Which of the following is the meaning for the
entry recorded in the machinery A/c?
Dr Machinery A/c Cr
a) Portion of sale of machinery transferred to
Profit & Loss A/c
b) Machinery of Rs.5,000 sold
c) Machinery of Rs.5,000 purchased
d) Loss on sale of machinery transferred to P &
L A/c
22. Which accounting concept specifies the
practice of crediting closing stock to the
trading account?
a) Cost b) Realisation
c) Going concern d) Matching
23. A LTD before commencing business, can it
issue the shares at discount?
a) Possible
b) Not possible
c) Possible with the permission of stock
exchange
d) Possible With the approval of shareholders
and with the permission of Government.
24. In Balance sheet ______ is not shown
a) Authorised Capital
b) Un-issued capital
c) Subscribed capital
d) Paid-up capital
25. Provision for depreciation A/c is created by
debiting to
a) Machinery A/c
b) Profit & Loss A/c
c) Profit & Loss Appropriation A/c
d) None of these
26. Amount spent to increasing the earning
capacity is a ______ expenditure
a) Capital b) Revenue
c) Deferred revenue d) Capital Loss
27. Which of the following is true?
a) Co-venturers always share profits equally
b) Number of Co-venturers can never be more
than two
c) Relation between co-Venturers is principal
and Agent
d) Co-ventures may provide funds
28. Change in the capital A/c of proprietor may
occur due to ______
a) Profit earned b) Loss incurred
c) Capital Introduced d) All of the above
29. If the goods sent on approval, two vehicles of
Rs.55,000 each, are recorded as Rs.75,000
each, then the cost of goods lying with
customers is
a) Rs.1,10,000 b) Rs.55,000
c) Rs.75,000 d) Rs.1,50,000
30. Which of the following is not correct for
debentures Issue?
a) They can be issued for cash
b) They can be issued for consideration other
than cash
c) A company can buy its own debentures
d) Can be issued in lieu of dividend
31. Goods purchased costing Rs.60,000 and cash
paid Rs.45,000 after receipt of a cash discount
Rs.9,000. What is the percentage of trade
discount got___
a) 15 % b) 10% c) 7½% d) 25%
32. _____ is prepared to ascertain the arithmetical
accuracy of posting & balancing of accounts.
a) Cash book
b) Journal
c) Trial Balance
d) Bank Reconciliation statement
33. If depreciation is charged at a fixed rate, then
depreciation in SLM method, when compared
to WDV is
a) Equal in the first year & Less in subsequent
years
b) Less in the first year & More in subsequent
years
c) Equal in the first year & More in subsequent
years
d) More in the first year & Less in subsequent
years
34. Consistency with reference to application of
accounting procedures means
a) All companies in the same Industry should
use identical accounting procedures
b) Income & assets have not been overstated
c) Accounting methods & procedures shall be
followed uniform basis year after year
d) Any accounting method can be followed as
per convenience
35. The manager earned a commission of
Rs.25,000, which is based on 10% of Net Profit.
If sales is Rs.3,50,000 is more than purchases.
No opening & closing stock. Find Direct &
Indirect expenses?
a) Rs.75,000 b) Rs.1,00,000
c) Rs.2,50,000 d) Not attainable
36. Which is not a feature of company
a) Separate legal entity
b) Perpetual existence
c) Incorporated Association
d) No separation between management &
Ownership
37. Delcredere commission 10% is to be calculated
on Rs.1,00,000 of cash sales and on Rs.50,000
of credit sales, then the commission will be
a) Rs.10,000 b) Rs.15,000
c) Rs.5,000 d) None of the above
38. For a depreciable asset, obsolescence is due to
a) Passage of time
b) Wear & Tear
c) Technological Changes
d) None of the above
39. Salaries paid Rs.4,500 is shown on credit side
of Trail Balance. The Debit side of Trial Balance
will be ______
a) Short by Rs.4,500
b) Excess by Rs.4,500
c) Short by Rs.9,000
d) Excess by Rs.9,000
40. The value of inventory as on Apr.04 is
Rs.1,60,000. The following transactions takes
place during Apl.01 to Apl.04. The value of
stock sold is Rs.40,000. The mode of sale is as
follows:-
i) The damaged goods are sold for Rs.15,000,
Sold at 25% below cost.
ii) The remaining goods are sold at cost plus
25%.
The value of stock as on 31st March is
(Damaged goods valued at NRV) ______
a) Rs.2,00,000 b) Rs.1,95,000
c) Rs.2,05,000 d) None of the above
41. An Asset purchased for Rs.60,000 and paid
Rs.10,000 and remaining amount is payable in
installments. This effect leads to ______
a) Both assets & Liabilities increased by
Rs.50,000
b) Both assets & Liabilities Decreased by
Rs.50,000
c) Assets Increased by Rs.10,000 & Liabilities
Decreased by Rs.10,000
d) Assets Increased by Rs.50,000 & Liabilities
Decreased by Rs.50,000
42. A company issued shares for 5,000 but
applications are received for 7,500 shares. Mr.
X applied for 600 shares. How many shares he
will get & how much amount is transferred to
allotment money, where application money is
Rs.3 per share?
a) 400 shares & Rs.600 b) 600 shares & Rs.600
c) 500 shares & Rs.300 d) None of the above
43. On 31-03-13 balance of Cash book is Rs.7,074
(Credit), balance as per bank statement is
Rs.3,159 (Debit). On scrutiny it was found that,
it was due to cheques issued but not yet
presented.
Bank balance on 31-03-13 to be shown in
Balance sheet is _____
a) Bank O.D. Rs.3,159
b) Cash at Bank Rs.7,074
c) Bank O.D. Rs.7,074
d) Cash at Bank Rs.3,159
44. Karthik and Dhoni entered into Joint venture,
sharing profits & Losses in the Ratio of 2:1.
Karthik purchased goods Rs.2,00,000 and
entitled to 1% commission on purchases.
Dhoni sold goods for Rs.2,50,000 and entitled
to get a commission 5% on sales. The profit on
venture will be _____
a) Rs.35,500 b) Rs.34,000
c) Rs.36,000 d) Rs.38,000
45. ______ method is used when repairs and
Maintenance goes on increase.
a) SLM method
b) WDV method
c) Machine hours method
d) Production units method
46. Wages paid Rs.2,500 for Installation of new
machinery wrongly debited to wages A/c
instead of machinery A/c. It is an error of ____
a) Omission b) Commission
c) Principle d) Clerical errors
47. Which of the following are current assets?
1) Accounts receivable
2) Salaries paid-in-advance
3) Bank Loan for 3 years
4) Preliminary expenses
a) 1 & 2 b) 2 & 3
c) 3 & 4 d) All of the above
48. Overriding commission is a commission, that
is____
a) Calculated on gross sales
b) Calculated on credit sales
c) Allowed for selling goods above invoice price
d) None of the above
49. On 31-3-13, prepaid expenses A/c (2012-13)
shows a closing balance of Rs.5,000. It means
a) Expenses transferred from previous years
for Accounting in current year
b) Expenses transferred to next year for
Accounting in that year only
c) Expenses transferred to next year for
accounting in that (or) future year
d) Expenses to be transferred to P & L A/c of
current year.
50. Petty cash book is used to record ____
a) Expenses for postage and conveyance
b) Purchase of Raw material
c) Paid salaries
d) None of the above
51. Ram Ltd. has issued 15% Debentures of
Rs.20,00,000 at a Discount of 10% on April,
2012. The company pays interest half yearly on
June 30th & Dec 31st every year. On March 31st ,
2013. The amount shown as interest accrued is
______
a) Rs.2,25,000 b) Rs.75,000
c) Rs.3,00,000 d) Rs.1,50,000
52. In Profit & Loss a/c, Selling & Distribution
expenses does not include______
a) Commission on sale
b) Packing expenses c) Legal expenses
d) Advertisement expenses
53. The credit balance as per pass book of ‘X’ was
Rs.65,000. Cheques issued but not paid
Rs.75,800.
Cheques deposited by one of the customers of
bank but wrongly credited in ‘X’ A/c Rs.20,600.
The balance as per cash book is _____
a) Rs.31.400 Debit b) Rs.31,400 Overdraft
c) Rs.1,20,000 Debit d) Rs. 10,400 Overdraft
54. Rectification of errors are first entered in:
a) Journal proper b) Subsidiary books
c) Trial balance d) Ledger
55. Which of the following are not miscellaneous
expenses?
a) Preliminary expenses
b) Amount spent for research & development
c) Brokerage on Issue of shares & Debentures
d) Goodwill yet to be written off.
56. Uma, being a holder of 1000 shares of Rs.20
each issued at a discount of 10% per share. She
did not pay the allotment money of Rs.4 per
share and first call of Rs.8 per share. At the
time of forfeiture, the discount on the shares
must be_____
a) Credited Rs.2,000 b) Debited Rs.2,000
c) Credited Rs.1,000 d) None of these
57. C & D are the partners of a firm, who share
profits & losses in the ratio of 5:3. D is entitled
to get 5% commission. The net profit of the
year is Rs.33,600 before charging such
commission. Find the share of the profits of C
& D.
a) C 20,000 & D 12,000
b) C 19,950 & D 11,970
c) C 21,000 & D 12,600
d) C 21,600 & D 12,000
58. Which of the following is false?
a) Assets can be arranged in the order of their
liquidity.
b) Balance sheet can be prepared vertically
c) Intangible asset is not an asset
d) None of these
59. In which method, Joint life policy premium
paid is treated as an expense and not as an
asset?
a) Ordinary expense method
b) Surrender value method
c) Joint life policy reserve method
d) None of the above.PART B – MERCANTILE LAWS
61. In case of unenforceable contract with some
technical defect, then the parties _____
a) Can sue
b) Cannot sue
c) Should be considered as illegal
d) None of the above
62. _____ Contracts are also known as Contracts
with executed consideration
a) Unilateral b) Completed
c) Bilateral c) Executory
63. An Advertisement for sale of an old Flat which
is published in leading newspaper. This kind of
offer is _____
a) Specific Offer b) Continuing Offer
c) Open Offer d) General Offer
64. There is no binding contract in case of ____ as
one’s offer cannot be construed as acceptance
by the other.
a) Cross Offer b) Standing Offer
c) Counter Offer d) Special Offer
65. A offers B to supply Books at Rs.100 each
Book. B accepts the same with condition of
10% discount. It is _____
a) Counter Offer b) Cross Offer
c) Specific Offer d) General Offer
66. In case of counter offer is made, the original
offer stands _____
a) Rejected b) Accepted Automatically
c) Accepted with modifications and variations
d) None
67. Which of the following is not an exception to
the rule “No Consideration, No Contract”?
a) Love & affection
b) Compensation for past Voluntary services
c) Contract of agency d) None of the above
68. G paid Rs.1,00,000 to H to influence the head
of the Government Organisation in order to
provide him some employment. On his failure
to provide the job, G sued H for recovery of
the amount. Which of the following is correct?
a) G can recover the amount of Rs.10,000.
b) G can recover the amount of Rs.10,000 with
interest. c) G can file a suit.
d) G cannot recover the amount.
69. A stronger party is able to dominate the will of
the weaker party, then it is known as _____
a) Undue influence b) Coercion
c) Mistake d) All of the above
70. Karthik is the coach of Sachin a minor, who
joined for Hockey coaching. The Fees is 10,000.
The Contract is _____
a) Void Agreement
b) Contingent Contract
c) Quasi Contract d) Wagering Agreement
71. _______ is a game of chance.
a) Conditional Contract
b) Contingent Contract
c) Wagering Agreement d) Quasi Contract
72. A, B, C are partners. They promised to give
60,000 to D. If C dies, who will Perform the
Contract?
a) A, B b) A, B and C’s legal representatives
c) A, B do not perform
d) None of the above
73. A contract entered between promisor and
promisee becomes impossible to perform due
to destruction of subject matter. In this case __
a) Promisee is entitled for compensation
b) Contract continues to be valid
c) Contract becomes void
d) None of the above
74. X & Y entered into an agreement to buy an
imported car for Rs.30,000. Later on they
cancelled the agreement. This is known as ___
a) Rescission b) Remission
c) Alteration d) Novation
75. A holds a house on lease. After that he buys
the house and became owner. The contract is
discharged by _____
a) Rescission b) Merger
c) Waiver d) Remission
76. Which of the following Damages are
punishment in nature?
a) Vindictive Damages b) Nominal Damages
c) Special Damages d) Ordinary Damages
77. Under Indian partnership act 1932, the
Partnership can be formed between ____
a) One Indian & Two Foreigners
b) One major person and one unsound mind
person
c) Convicts undergoing Imprisonment
d) None of the above
78. The Mode of determining the existence of
partnership is ___
a) Real relation between them
b) Sharing of profits
c) Business is to carried on by all (or) any of
them acting for all. d) All of the above
79. Each partner in a firm is in the position of ____
a) Only agent b) Only principal
c) Agent as well as principal
d) Neither agent nor principal
80. Which of the following is a form in which all
the partners are signed?
a) Pronote b) Partnership Deed
c) MOA d) None
81. The Un-registered firm does not have a _____
a) Right to file a suit on third party
b) Right to acquire property
c) Right to Transfer property
d) All of the above
82. Dormant partner is also known as ____
a) Sleeping Partner b) Active partner
c) Nominal Partner d) Sub – Partner
83. In which of the following, the partnership
duration is not fixed?
a) Particular Partnership
b) Partnership at will
c) Fixed term partnership d) None of these
84. Robert is a sleeping partner in a firm. He
detected a wrong in the accounts of the firm.
So he wants to check the complete accounts of
the firm. But the other partners objected it.
Can the objection made by the other partners
is correct or not?
a) Void, their objection is wrong.
b) Valid, they can object.
c) Valid, they have the right not to give the
accounts to the sleeping partner.
d) None of the above
85. The status of a partner making advances to the
firm in addition to his capital, then he is _____
a) A Partner of the firm
b) Employee of the Firm
c) Creditor of the firm d) All of the above
86. As per the agreement, profits should be shared
equally but loss shall be borne by one partner.
Then the partnership agreement is _____
a) Lawful b) Illegal c) Void d) Voidable
87. Which of the following is with in the scope of
implied authority of a partner in a partnership
firm?
a) Enter into partnership on behalf of the firm.
b) Admit any liability in a suit or proceeding
against the firm;
c) Acquire immovable property on behalf of
the firm d) Purchasing & selling goods,
in which the firm deals.
88. The liability of newly admitted partner arise
from ____
a) The Date of his admission
b) As per agreement
c) For the pre-existing debts of the firm
d) All of the above
89. For Dissolution of a firm, partners may apply
to the court on the ground of _______
a) Insanity of partner
b) Misconduct of Partner
c) Perpetual Losses in Business
d) All of the above
90. The mode of dissolution of firm under Indian
partnership Act 1932 is_____
a) Illustrative b) Inclusive
c) Exhaustive d) None of the above
91. Under the sale of goods act 1930, the seller in
a contract of sale transfers the ______ in
goods to the buyer for a price.
a) Possession b) Control
c) Rights d) Property
92. If the goods completely perish before contract
of sale, the contract becomes.
a) Valid b) Void
c) Voidable d) Unenforceable
93. A stipulation in a contract of sale with
reference to the goods which may be ____
a) Fair price b) Lawful price
c) Condition (or) warranty d) Delivery
94. Conditions which are presumed by law to be
present in a contract are ______
a) Express Conditions b) Implied Conditions
c) Qualified Conditions
d) Unqualified Conditions
95. When a person sells the goods by infringing
the copyright or trademark of the others, there
is breach of an implied _______
a) Condition as to title
b) Condition as to description
c) Condition as to merchantability
d) None of these
96. The Doctrine of Caveat Emptor applies to the
sale where ______
a) The Buyer Expressly informed the seller the
particular purpose for which the goods are
being bought
b) Sale under a Patent or Trade Name
c) When the good is of merchantable quality
and the buyer has examined the good.
d) None of the above
97. The Goods are damaged after Sale. The Risk is
to be borne by ______
a) Buyer only b) Seller only
c) Both (a) & (b) d) None of the above
98. Q sells 100 tones of rice to P at Rs.50,000 per
tone. P makes the full payment and says that
he will take the goods on next week. Before P
could take the goods, the goods are destroyed.
The loss will be borne by _____
a) P b) Q c) Both P & Q equally d) None
99. Seller sends the goods to the buyer at larger
(or) smaller quantity than ordered quantity.
The option to the buyer is _____
a) Reject the whole quantity
b) Accepts the whole quantity
c) Accept (or) Reject the whole quantity
d) All of the above
100. Right of general lien cannot be exercised by __
a) Factor b) Banker
c) Auctioneer d) All of these

I want to register for CPT Exam so please give me all important details including date of CPT exam?

[Kiran Chandar]

The Institute of Chartered Accountants of India (ICAI), Delhi conducts Common Proficiency Test (CPT). CA-CPT is conducted for taking admission to admission to Chartered Accountancy (CA) program.

Application Procedure:
Applications form obtained from the Additional Secretary (Examinations), The Institute of Chartered Accountants of India, ICAI Bhawan, Indraprastha Marg, New Delhi-110002 on payment of Rs. 1000/- (Rs. 500/- towards examination fee and Rs. 500/- towards cost of application form and Information brochure)

Last date for registration was: October 07, 2014.

Important Tentative Dates:
Availability of online application form: October 07, 2014
Last date for submission of application form: October 28, 2014
Date of CPT: December 14, 2014

CA CPT Syllabus
Fundamental Accounting:
Introduction to Company Accounts, Partnerships Accounts Theoretical Framework, Depreciation Accounting, and Bank Reconciliation Statement etc.

Mercantile Law:
Different types of acts like goods act 1930, Indian contract act 1872 and Partnership act 1932.

Quantitative Aptitude:
basic concepts of differential and integral calculus, sets, functions and relations, simple and compound interest, ratio and proportion, logarithms and Indices.

General Economics:
Economy reforms in India, theories on production and cost, demand & supply and micro economics.

Paper Pattern:
Accounting
Mercantile Laws
General Economics
Quantitative Aptitude

SESSION – I
Section A: Fundamentals of accounting (60 marks)
Section B: Mercantile Laws (40 marks)

SESSION – II (Two Sections – Two hours – 100 marks)
Section C: General Economics (50 marks)
Section D: Quantitative Aptitude (50 marks)

Contact Details:
The Additional Secretary (Exams)
The Institute of Chartered Accountants of India
ICAI Bhawan
Indraprastha Marg
New Delhi 110 002
0120-3054 851

Will you tell me what will be the last date for online registration for CA CPT (Common Proficiency Test) exam of ICAI , as I am looking for the same ?

[Arun Vats]

Candidate can apply online for CA CPT (Common Proficiency Test) exam of ICAI for 2015 exam from 7th April, 2015 (10.00 hrs) to 28th April, 2015.

CA CPT June 2015 will be held on Sunday, 14th June, 2015.

Paper Pattern:

It is an entry level test for Chartered Accountancy Course, which is held twice a year in June and December for registered students of Common Proficiency Course (CPC).
The test comprises of four subjects viz.,
Accounting, Mercantile Laws, General Economics and Quantitative Aptitude with an objective to test basic knowledge in these subject areas.
This test is for 200 marks and is divided into two sessions of two hours each with a break in between.
CPT is an objective type test with negative marking. Subjects are to be studied in CPT as follows:
SESSION – I ( Two Sections – Two hours – 100 marks )
Section A: Fundamentals of Accounting ( 60 marks ) Section B: Mercantile Laws ( 40 marks )

SESSION – II ( Two Sections – Two hours – 100 marks) S
ection C: General Economics ( 50 marks )
Section D: Quantitative Aptitude ( 50 marks)

CA CPT Syllabus :

Syllabus for all the mentioned subjects is as given below:-

Fundamental Accounting: - Introduction to Company Accounts, Partnerships Accounts Theoretical Framework, Depreciation Accounting, Bank Reconciliation Statement etc.

Mercantile Law:- Different types of acts like goods act 1930, Indian contract act 1872 and Partnership act 1932.

Quantitative Aptitude: - basic concepts of differential and integral calculus, sets, functions and relations, simple and compound interest, ratio and proportion, logarithms and Indices.

General Economics: - Economy reforms in India, theories on production and cost, demand & supply and micro economics.