Daily Test For CPT

10 Questions | Total Attempts: 129

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CPT Quizzes & Trivia

Daily test for ICAI - CPT. This test contains questions from all papers.


Questions and Answers
  • 1. 
    The difference between subscribed capital and called up capital is:
    • A. 

      Paid Up Capital

    • B. 

      Calls in Arrear

    • C. 

      Calls in Advance

    • D. 

      Uncalled Capital

  • 2. 
    Cost or market price which ever is lower is ________ Concept.
    • A. 

      Conservatism

    • B. 

      Going Concern

    • C. 

      Consistency

    • D. 

      Materiality

  • 3. 
    A second hand computer is purchased from soft tech company by a cloth merchant is entered in _________.
    • A. 

      Purchase Day Book

    • B. 

      Journal

    • C. 

      Cash Book

    • D. 

      None of the above

  • 4. 
    Under the Indian Contract Act 1872, a completed gift have ______________
    • A. 

      No Consideration

    • B. 

      Less Consideration than the value of gift

    • C. 

      More consideration than the value of gift

    • D. 

      Equal consideration to the value of gift

  • 5. 
    According to Indian Partnership act 1932; The Person who contributes capital & share profits but takes no active interest in efforts of business:
    • A. 

      Active Partner

    • B. 

      Nominal Partner

    • C. 

      Dormant Partner

    • D. 

      Partner's in Profits only

  • 6. 
    The finder of lost of goods under the contract act 1872 he can sell the goods if they are:
    • A. 

      Ascertained

    • B. 

      Unascertained

    • C. 

      Valuable

    • D. 

      Perisiable

  • 7. 
    Time Reversal and Factor Reversal test satisfied by :
    • A. 

      Paasche's Index

    • B. 

      Laspeyre's Index

    • C. 

      Fisher's Index

    • D. 

      None of the above

  • 8. 
    Fisher's Ideal Index no is :
    • A. 

      AM of Laspeyre's and Paasche's Method

    • B. 

      HM of Laspeyre's and Paasche's Method

    • C. 

      GM of Laspeyre's and Paasche's Method

    • D. 

      Median of Laspeyre's and Paasche's Method

  • 9. 
    Who expressed the view that "Economics is neutral between ends".
    • A. 

      Robbins

    • B. 

      Marshall

    • C. 

      Pigou

    • D. 

      Adam smith

  • 10. 
    The Branch of Economic theory that deals with the problems of allocation of resource  is:
    • A. 

      Micro - Economic Theory

    • B. 

      Macro - Economic Theory

    • C. 

      Econometrics

    • D. 

      None of the above