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  #2  
24th November 2014, 09:42 AM
Super Moderator
 
Join Date: Apr 2013
Re: ICWAI Exam Question Paper

ICWAI (Institute of Cost and Works Accountants of India) is an accountancy body and is involved in finding out scientific methods in cost and accountancy.

Below I am listing some of the questions from the question paper of ICWAI Financial Accounting, and for details I am uploading a file that you can download for free:

1(a). Distinguish Between Liability and Provision. (3 marks)
(b).A & B are two partners of a firm sharing the profits & losses in the ratio of 7/12 and
5/12 respectively. On Ist April 2009,they take C as a partner giving him 1/6 share. A & B
agreed further to share the C future profits in the ratio of 13/12 & 7/24 resp.C,in addition to
his capital, brings in Rs96000 as his goodwill for 1/6 share. The goodwill is amount to be
shred between A & B.
The share of goodwill amount of A & B respectively will be
A: Rs24000 & Rs72000
B: Rs72000 & Rs24000
C: Rs56000 & Rs40000
D: Rs52000 & Rs44000
Choose the correct answer. (3 marks)
©Match the following
(i) AS-4 (1) Disclosure of Accounting Policies
(ii) AS-10 (2) Contingencies & Events occurring after the Balance Sheet Date
(iii)As-26 (3) Accounting for Fixed Assets
(iv)AS-1 (4) Intangible Assets (4 marks)
(d) Match the following
(i) Cash Reserve (1)Electricity Supply Co
(ii)Clear Profit (2) Construction Co
(iii)Escalation Clause (3)Banking Co (3 marks)
(e) Can a company change the method of providing Depreciation? (3 marks)

ICWAI Exam Question Paper




  #3  
19th February 2016, 01:35 PM
Unregistered
Guest
 
Re: ICWAI Exam Question Paper

Hello sir, I’m going to attempt ICWAI entrance exam. For this program I want some previous year question paper of ICWAI exam please provide me?
  #4  
19th February 2016, 01:40 PM
Super Moderator
 
Join Date: Apr 2013
Re: ICWAI Exam Question Paper

The Institute of Cost Accountants of India (ICAI) hasn’t held CMA/ICWAI inter question papers of December 2015 term. ICWAI inter question papers of Dec 2015 paper provided after CWA Inter Dec 2015 Exams.

Question paper of ICWAI exam







Question of ICWAI;

1.(a) From the following two groups of words, match each item in Group I with the suitable item in Group II as per their relevance:
Group I
A. Step Cost
B. Limiting Factor
C. Flux Method
D. Blanket rate
E. Volume variance
Group II
(a) Supervisory expenses
(b) Labour Turnover
(c) Marginal Costing
(d) Remuneration system
(e) Long Term solvency
(f) Standard costing
(g) Apportionment of overheads

(b)State whether the following statements are TRUE (T) or FALSE (F) :
(i)ABC analysis is made on the basis of unit prices of material.
(ii)When maximum stock level is fixed, the stock in hand should not exceed that level.
(iii)Primary packing material is considered as indirect material.
(iv)Under inflationary condition, use of FIFO method of pricing material issues results in overstatement of profit.
(v)Integrated accounts merge the cost and financial accounts in one set of accounts.

(c)In each of the cases given below one out of four alternative answers is correct. Indicate the correct answer (= 1 mark) and give workings/reasons in support of your answer (= 1 mark) : 2x5
(i)In a product, 4 kgs of material X is used. While minimum and maximum production vary between 250 units and 400 units, this average production is maintained at 300 units per week. Delivery period varies between 2 to 4 weeks. Re–order level of Material X is
A. 4000; B. 5800; C. 6400; D. None of these.

(ii)Cost per unit of a product manufactured in a factory amounted to Rs.80(70% variable) when production volume was 6,000 units. If production is increased by 20%, the unit cost of production without change in Fixed Costs, will be
A. Rs.74; B. Rs.75; C. Rs.76; D. None of these.

(iii)Sales and Profit of a Company for two consecutive periods are Period I – Sales Rs.20,000, Profit Rs.2,000; Period II – Sales Rs.30,000, Profit Rs.4,000 Its P/V ratio is
A. 20% B. 25% C. 30%; D. None of these

(iv)The following data relate to a manufacturing company:
Budgeted overhead – Rs.50,000, Budgeted production – 5000 units
Actual production – 4000 units, Actual overhead – Rs.42,000
Under recovery of overhead would be
A. Rs.8000; B. Rs.1000; C. Rs.2000; D. None of these.

(v)When the capacity ratio and the activity ratio of a manufacturing shop are 95% and 105% respectively, the Efficiency ratio would be
A. 90.47%; B. 103%; C. 110.52%; D. None of these.

Here I’m attaching PDF format of ICWAI account paper:
Attached Files
File Type: pdf Financial accounting.pdf (1.57 MB, 63 views)


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