CA Foundation Question Paper
Dear CA Foundation Students,
We are excited to announce that we are conducting daily revision tests for the CA Foundation June 2024 batch.
This is a great opportunity for you to evaluate your CA Foundation exam preparation level. Daily we will upload a new ca foundation question paper, you have to answer the same and send it to us on our students whatsapp group. We will check your answers and mark areas for improvements for you. This CA Foundation question paper and checking is provided by koncept education to all students for FREE.
Details of CA Foundation Daily Test Program:
CA Foundation Students WhatsApp Group Link: Join here
We encourage you to make the most of this opportunity to enhance your preparation. Regular practice through these CA Foundation question papers will help you identify your strengths and areas that need more focus.
Stay committed, stay focused, and let's aim for success together!
Best regards,
Koncept Education Team
Paper 1: Accounting
1. Gopal and Govind are partners sharing profits and losses in the ratio 60:40. The firms’ balance sheet as on 31.03.20X4 was as follows:
|
Liabilities |
(₹) |
Assets |
(₹) |
|
Capital accounts: |
|
|
|
|
Gopal |
1,20,000 |
Fixed assets |
3,00,000 |
|
Govind |
80,000 |
Investments |
50,000 |
|
Long term loan |
2,00,000 |
Current assets |
2,00,000 |
|
Current liabilities |
2,50,000 |
Loans and advances |
1,00,000 |
|
|
6,50,000 |
|
6,50,000 |
Due to financial difficulties, they have decided to admit Guru as partner in the firm from 01.04.20X4 on the following terms:
Guru will be paid 40% of the profits.
Guru will bring in cash ₹ 1,00,000 as capital. It is agreed that goodwill of the firm will be valued at 2 years’ purchase of 3 years’ normal average profits of the firm and Guru will bring in cash his share of goodwill. It was also decided that the partners will not withdraw their share of goodwill nor will the goodwill appear in the books of account.
The profits of the previous three years were as follows:
For the year ended 31.3.20X2: profit ₹ 20,000 (includes insurance claim received of ₹ 40,000).
For the year ended 31.3.20X3: loss ₹ 80,000 (includes voluntary retirement compensation paid ₹1,10,000).
For the year ended 31.3.20X4: profit of ₹1,05,000 (includes a profit of ₹ 25,000 on the sale of assets).
It was decided to revalue the assets on 31.03.20X4 as follows:
|
|
(₹) |
|
Fixed Assets (net) |
4,00,000 |
|
Investments |
Nil |
|
Current Assets |
1,80,000 |
|
Loans and advances |
1,00,000 |
The new profit sharing ratio after the admission of Guru was 35:25:40.
Pass journal entries on admission, show goodwill calculation and prepare revaluation account, partners’ capital accounts and balance sheet as on 01.04.20X4 after the admission of Guru.
(MARKS 10)
Paper 2: Business Laws
2. What do you understand by “Caveat-Emptor” under the Sale of Goods Act, 1930? What are the exceptions to this rule?
(Marks 6)
Paper 3: Quantitative Aptitude
1. A man is facing towards west and turns through 45° clock wise, again 180° clock wise and then turns through 270° anticlockwise. In which direction is he facing now?
(A) West
(B) North-West
(C) North
(D) South-west
2. A rat run for 20 kms towards East and turns to right run 10 kms and turns to right runs 9 Kms and again turn to left and run 5 Kms and then turn to left run 12 Kms and finally turns to left and run 6 Kms. Now what direction rat is facing?
(A) East
(B) North
(C) West
(D) South
3. K is a place which is located 2 km away in the north-west direction from the capital P. R is another place that is located 2 km away in the south-west direction from K. M is another place and that is located 2 km away in the north-west direction from R. T is yet another place that is located 2 km away in the South-West direction from M. In which direction is T located in relation to P?
(A) South-west
(B) North-west
(C) West
(D) North
4. One evening, Raju started to walk toward the sun. After walking a while, he turned to his right and again to his right. After walking a while, he again turns right. In which direction is he facing?
(A) South
(B) East
(C) West
(D) North
5. Daily in the morning the shadow of Gol Gumbaz falls on Bara Kaman and in the evening the shadow of Bara Kaman falls on Gol Gumbaz exactly. So in which direction is Gol Gumbaz to Bara Kaman?
(A) Easter side
(B) Wester side
(C) Northern Side
(D) Southern side
6. A walks 3 kms north ways and then he turns left and goes 2 km. He again turns left and goes 3 km. He turns right and walks straight. In which direction is he walking now?
(A) East
(B) West
(C) North
(D) South
7. You go north, turn right, then right again and then go to the left. In which direction are you moving now?
(A) South
(B) East
(C) West
(D) North
(Marks 7)
Paper 4: Business Economics
1. Comparative advantage refers to
(A) a country’s ability to produce some good or service at the lowest possible cost compared to other countries
(B) a country’s ability to produce some good or service at a lower opportunity cost than other countries.
(C) Choosing a productive method which uses minimum of the abundant factor
(D) (a) and (b) above
2. A tax applied as a percentage of the value of an imported good is known as
(A) preferential tariff
(B) ad valorem tariff
(C) specific tariff
(D) mixed or compound tariff
3. Escalated tariff refers to
(A) nominal tariff rates on raw materials which are greater than tariffs on manufactured products
(B) nominal tariff rates on manufactured products which are greater than tariffs on raw materials
(C) nominal tariff rates on manufactured products which are greater than tariffs on raw materials
(D) none of the above
4. SPS measures and TBTs are
(A) permissible under WTO to protect the interests of countries
(B) may result in loss of competitive advantage of developing countries
(C) increases the costs of compliance to the exporting countries
(D) All the above
5. The most controversial topic in the yet to conclude Doha Agenda is
(A) trade in manufactured goods
(B) trade in intellectual property rights-based goods
(C) trade in agricultural goods
(D) market access to goods from developed countries
6. An increase in the supply of foreign exchange
(A) shifts the supply curve to the right and as a consequence, the exchange rate declines
(B) shifts the supply curve to the right and as a consequence, the exchange rate increases
(C) more units of domestic currency are required to buy a unit of foreign exchange
(D) the domestic currency depreciates and the foreign currency appreciates
7. Which type of investment is more influenced by government regulations and policies?
(A) FDI
(B) FPI
(C) Both FDI and FPI equally
(D) Neither FDI nor FPI
(Marks 7)
Hey everyone the link to recent past daily test is - Question paper for 17/18-06-2024
Thank You for all the love you have shown us. You make us work even more
"I must say Yash Sir (who teaches practical subjects) has a very unique auro when it comes to teaching."
" The overall experience at Koncept has been amazing. The videos deliver a great content. Special thanks to Ruchika mam."
"At the end I would to conclude. "Koncept is what koncept does", also they are here for the people in need, classes are super affordable."
"The law concept explained by Ruchika ma'am where just awesome, all the concept where crystal clear."
Ruchika Saboo
An All India Ranker (AIR 7 - CA Finals, AIR 43 - CA Inter), she is one of those teachers who just loved studying as a student. Aims to bring the same drive in her students.
Ruchika Ma'am has been a meritorious student throughout her student life. She is one of those who did not study from exam point of view or out of fear but because of the fact that she JUST LOVED STUDYING. When she says - love what you study, it has a deeper meaning.
She believes - "When you study, you get wise, you obtain knowledge. A knowledge that helps you in real life, in solving problems, finding opportunities. Implement what you study". She has a huge affinity for the Law Subject in particular and always encourages student to - "STUDY FROM THE BARE ACT, MAKE YOUR OWN INTERPRETATIONS". A rare practice that you will find in her video lectures as well.
She specializes in theory subjects - Law and Auditing.
Yashvardhan Saboo
A Story teller, passionate for simplifying complexities, techie. Perfectionist by heart, he is the founder of - Konceptca.
Yash Sir (As students call him fondly) is not a teacher per se. He is a story teller who specializes in simplifying things, connecting the dots and building a story behind everything he teaches. A firm believer of Real Teaching, according to him - "Real Teaching is not teaching standard methods but giving the power to students to develop his own methods".
He cleared his CA Finals in May 2011 and has been into teaching since. He started teaching CA, CS, 11th, 12th, B.Com, M.Com students in an offline mode until 2016 when Konceptca was launched. One of the pioneers in Online Education, he believes in providing a learning experience which is NEAT, SMOOTH and AFFORDABLE.
He specializes in practical subjects – Accounting, Costing, Taxation, Financial Management. With over 12 years of teaching experience (Online as well as Offline), he SURELY KNOWS IT ALL.
"Koncept perfectly justifies what it sounds, i.e, your concepts are meant to be cleared if you are a Konceptian. My experience with Koncept was amazing. The most striking experience that I went through was the the way Yash sir and Ruchika ma'am taught us in the lectures, making it very interesting and lucid. Another great feature of Koncept is that you get mentor calls which I think drives you to stay motivated and be disciplined. And of course it goes without saying that Yash sir has always been like a friend to me, giving me genuine guidance whenever I was in need. So once again I want to thank Koncept Education for all their efforts."
"Hello everyone, I am Kaushik Prajapati. I recently passed my CA Foundation Dec 23 exam in first attempt, That's possible only of proper guidance given by Yash sir and Ruchika ma'am. Koncept App provide me a video lectures, Notes and best thing about it is question bank. It contains PYP, RTP, MTP with soloution that help me easily score better marks in my exam. I really appericiate to Koncept team and I thankful to Koncept team."
"Hi. My name is Arka Das. I have cleared my CMA Foundation Exam. I cleared my 12th Board Exam from Bengali Medium and I had a very big language problem. Koncept Education has helped me a lot to overcome my language barrier. Their live sessions are really helpful. They have cleared my basic concepts. I think its a phenomenal app."
"I cleared my foundation examination in very first attempt with good marks in practical subject as well as theoretical subject this can be possible only because of koncept Education and the guidance that Yash sir has provide me, Thank you."
.webp)
.webp)
.webp)
.webp)