CA Foundation 2025
Contingent Assets and Contingent Liabilities – CA Foundation Accounts Question 1.Contingent liability.Answer:Contingent liability:(a) A contingent liability is a possible obligation that arises from past events and the existence of which will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the enterprise. Possible […]
Capital and Revenue Expenditure – CA Foundation Accounts Question 1.Capital ExpenditureAnswer:Capital Expenditure: Any amount spent by actual payment or for which a liability is incurred is known as an expenditure. Capital Expenditure is that expenditure which results in the acquisition of an asset (tangible or intangible) which can be later sold and converted into cash […]
Accounting Concepts, Principles and Conventions – CA Foundation Accounts Study Material Question 1.What are Accounting Concepts, Principles & Conventions?Answer:Usually, accounting theories are expressed (referred) as Postulates, Concepts, Principles, Doctrines, Axioms, Rules, Standard, Assumptions, Canon etc. These are basic assumptions & norms on which the whole system of accounting is developed. These gives the basic structure […]
Meaning and Scope of Accounting – CA Foundation Accounts Study Material Question 1.What do you mean by Accounting? Give its definition.Answer:According to AICPA, “Accounting” is the art of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least, of a financial character, and […]
Business Cycles CA Foundation MCQ Economics Chapter 5 1. The term business cycle refers to _________.(a) The ups and downs in production of commodities.(b) The fluctuating levels of economic activity over a period of time.(c) Decline in economic activities over prolonged period of time.(d) Increasing unemployment rate and diminishing rate of savings.Answer:(b) The fluctuating levels […]
Linear Inequalities mcqs Question 1 If ∣∣3x−44∣∣≤512, the solution set is:(a) {x: 1918 ≤ x ≤ 2918}(b) {x: 79 ≤ x ≤ 179}(c) {x: −2918 ≤ x ≤ −1918}(d) None of these [1 Mark, Feb. 2007]Answer:(b) is correct Question 2 On solving the inequalities 6x + y ≥ 18; x + 4y ≥ 12; 2x + y ≥ 10, we get the following situation: (а) (0, […]
Matrices mcqs Question 1.The value of k for which the points (k, 1)., (5, 5) and (10, 7) may be collinear if: (a) k = -5(b) k = 7(c) k = 9(d) k = 1Answer:FormulaPoints (x1; y1) ; (x2; y2) and (x3; y3) are collinear; if∣∣∣∣x1x2x3y1y2y3111∣∣∣∣ = 0 ⇒ ∣∣∣∣K510157111∣∣∣∣ = 0or; K(5 – 7) – 1(5 – 10) […]
Equations mcq Question 1.A man went to the Reserve Bank of India with ₹ 1,000. He asked the cashier to give him ₹ 5 and ₹ 10 notes only in return. The man got 175 notes in all. Find how many notes of ₹ 5 and ₹ 10 did he receive? (a) (25,150)(b) (40,110)(c) (150,25)(d) NoneAnswer:Tricks […]
Measures of Dispersion MCQS Question 1.A student obtained the mean and standard deviation of 100 observations as 40 and 5.1 respectively. It was later discovered that he had wrongly copied down an observation as 50 instead of 40. The correct standard deviation is _______ (a) 5(b) 6(c) 3(d) 7Solution:N = 100, In correct X¯¯¯¯ = 40 & σ […]
Measures of Central Tendency MCQS Question 1.If X and Y are related by X – Y – 10 = 0 and mode of X is known to be 23, then the mode of Y is : (a) 20(b) 13(c) 3(d) 23Solution:(b) 13(b) is correctGiven Relation is x – y – 10 = 0XM0 = 23 (given)∴ 23 […]