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CMA Pre Exam Test PDF
CMA Pre Exam Test PDF
edu)
Status : Pass
Assessment Date : 09-09-2020 18:24:21 (GMT+05:30)
Performance Level : Low
53.00 L
Your Performance
Percentage Category
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Performance Categories
Based on the performance of the students, we have framed the following categories to place you in accordance with your performance
Excellent
Outstanding level of performance indicates that the candidate has done excellent work and mastered the concepts.
High
High level of performance indicates that the candidate has done above average work and mastered almost all the concepts.
Moderate
Acceptable level of performance indicates that the candidate has done average work and has mastered many of the concepts.
Low
Needs improvement in performance indicates that the candidate has done and mastered very few or none of the concepts.
Performance Criteria
Section (Group) 91.00 and above 81.00 to 90.00 61.00 to 80.00 Below 60.00
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SECTION (GROUP) EXCELLENT HIGH MODERATE LOW
Overall Score 91.00 and above 81.00 to 90.00 61.00 to 80.00 Below and equal to 60.00
SECTION MARKS TIME SPENT YOUR SECTION YOUR TOTAL MAX NO OF QUESTIONS MARKED
(GROUP) SCORED BY YOU (IN PERCENTAGE SECTION QUESTIONS QUESTIONS - TO ATTEMPTED CORRECT INCORRECT UNANSWERED FOR
BY YOU MINS) ACCURACY ATTEMPT REVIEW
/
SECTION MARKS TIME SPENT YOUR SECTION YOUR TOTAL MAX NO OF QUESTIONS MARKED
(GROUP) SCORED BY YOU (IN PERCENTAGE SECTION QUESTIONS QUESTIONS - TO ATTEMPTED CORRECT INCORRECT UNANSWERED FOR
BY YOU MINS) ACCURACY ATTEMPT REVIEW
Section
53.00 26:17 53.00% 62.00% 50 50 50 31 18 0 1
(Group)
Note:The percentage (%) and accuracy below the prescribed values (60 %) are shown in red color
Section-wise marks
Section, 53
Section
/
Impact of Incorrect Responses
Below table provides the marks lost due to incorrect responses.
SECTION(GROUP) NUMBER OF INCORRECT RESPONSES MARKS LOST DUE TO INCORRECT RESPONSES TOTAL SCORE IF INCORRECT RESPONSES WERE NOT MARKED
Section(grp1) 18 9 62
Overall 18 9 62.00
In order to attempt more accurately, consider the following suggestions while attempting the questions:
1. If you are not able to solve a question correctly or have doubts in your approach towards the solution, skip it for later.
2. Quickly revise the steps for avoiding calculation or casual mistakes.
3. Avoid guesswork.
Time Management
Below table shows the time you spent in each section.
/
SECTION (GROUP) TIME SPENT BY YOU (IN MINS)
Recommendations
1. It is essential for each aspirant to plan and schedule time for each section diligently. This is important to score well in each section and ultimately meet the cut-
off.
2. This will also help you in attempting all the questions in each section and hence not missing the opportunity to score more.
SECTION(GROUP) CORRECT TO INCORRECT INCORRECT TO CORRECT INCORRECT TO INCORRECT CORRECT TO UNANSWERED INCORRECT TO UNANSWERED
Section (Group) 0 0 0 0 0
Overall 0 0 0 0 0
It is suggested that guesswork should be avoided for any type of response changes. It has been observed that more often than not, guesswork leads to an incorrect
response thereby inviting negative marks which in turn has an adverse effect on the overall rank.
/
You must use your knowledge observation and elimination skills to arrive at the correct answer
You must use your knowledge, observation and elimination skills to arrive at the correct answer.
Overview: Section
The below table provides your marks in Section along with the average marks scored by the others (students who cleared this assessment) and the marks scored by
the topper.
MARKS SCORED BY YOU YOUR SECTION PERCENTAGE YOUR SECTION ACCURACY TIME SPENT BY YOU (IN MINS)
/
MARKS SCORED BY YOU YOUR SECTION PERCENTAGE YOUR SECTION ACCURACY TIME SPENT BY YOU (IN MINS)
Note:The percentage (%) and accuracy below the prescribed values (60%) are shown in red color
Correct, 31
InCorrect, 18
= Not Evaluated = Evaluated = Correct = Incorrect = Not Attempted = Marked for Review
= Answered = Correct Option = Your Option
Question Details
Status : Answered
Options :
Timespent (in sec): 18 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
/
Q2. An investor wants to invest in the equity shares of ABC Ltd. for one year. The company is expected to declare a dividend of Rs. 4
per share. Further a financial analyst has projected the yearend target price of this company’s share is Rs. 220. Assuming that the
required rate of return is 10%, calculate the fair price of the share.
Status : MarkedForReview
Options :
1. Rs. 204
2. None of the above
3. Rs 220
4. Rs. 224
Timespent (in sec): 112 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Q3. Profit or Loss attributable to “Minority Interest” and to owners of the parent in the statement of Profit and Loss shall be presente
as ……………………for the period
Status : Answered
Options :
Timespent (in sec): 25 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
/
Q4. In case of inter lending transaction between Holding & Subsidiary…………………………… will be eliminated.
Status : Answered
Options :
Timespent (in sec): 18 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Q5. B Ltd. issued 5,000, 6% Debentures of Rs.100 each at 5% discount repayable after 5 years at a premium of 5%. What will be the
total loss on debentures?
Status : Answered
Options :
1. 50000
2. 60000
3. 40000
4. 70000
Timespent (in sec): 139 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Q6. Goodwill, preliminary expenses, etc. when written off against profits, need to be _________________in Cash flow Statement.
Status : Answered
Options :
1. Shown as extraordinary item
2. Added in Cash from financing activity
3. Added in Cash from operating activity
4. Subtracted in Cash from operating activity
Timespent (in sec): 20 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
/
Q7. What is/are the attachment in CRA-4?
Status : Answered
Options :
1. Details of observation of cost audit report
2. XBRL document in respect of the cost audit report and Company’s information
3. None of the above
4. Details of cost auditor(s) appointment
Timespent (in sec): 112 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Q8. Which section of the Companies Act, 2013 covers definition of Holding Company?
Status : Answered
Options :
1. Section 2 (48)
2. Section 2 (49)
3. Section 2 (47)
4. Section 2 (46)
Timespent (in sec): 31 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Q9. How much should be maximum remuneration payable by a company to its managerial personnel where effective capital is Rs.5
crores & above but less than Rs.100 crores ?
Status : Answered
Options :
1. Rs. 42 lakh
2. Rs. 60 lakh
3. None of the above
4. Rs. 30 lakh
Timespent (in sec): 43 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
/
Q10. F Ltd. purchased Machinery from G Company for a book value of Rs.4,00,000. The consideration was paid by issue of 10%
debentures of Rs.100 each at a discount of 20%. The debenture account was credited with…………
Status : Answered
Options :
1. Rs.3,20,000
2. Rs.4,80,000
3. Rs.4,00,000
4. Rs.5,00,000
Timespent (in sec): 93 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Q11. For Cash Settled Awards, the basis of measurement for non-employee is :
Status : Answered
Options :
1. All of the above
2. Fair value of equity instruments awarded
3. Fair value of Liability
4. Fair value of goods or services received
Timespent (in sec): 9 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Q12. In a Cash Flow Statement decrease in a current liability will result in:
Status : Answered
Options :
Timespent (in sec): 19 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
/
Q13. When debentures are issued as collateral security, interest is paid on:
Status : Answered
Options :
Timespent (in sec): 24 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Q14. On March 31, 2018 , the following balances were extracted 12% debentures Rs. 50,00,000 Debenture redemption fund Rs.
50,00,300 Debenture redemption fund Investment Rs. 42,00,000 On 1st April,2018, all the investments were sold for Rs. 41,16,000
and the debentures were redeemed at par. The company had sufficient bank balance. What will be the loss / profit on sale of
investment?
Status : Answered
Options :
1. 85,000 (profit)
2. 84,000 (profit)
3. 84,000 (loss)
4. 85,000 (loss)
Timespent (in sec): 101 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
/
Q15. The failure, if any, to complete the buy-back within the time is to be specified by board’s report. Is this a mandatory disclosure?
Status : Answered
Options :
1. None of the above
2. Mandatorily
3. Statutorily
4. Voluntarily
Timespent (in sec): 12 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Q16. Which of the following statement/s is/are true? (i) Under provision for taxation, liabilities on account of gratuities, arrears of
preference dividends, etc., are instances, of what may not appear in books.;(ii) If the company has equity shares of varying fully paid-
up values, the total value should not be allocated to the different paid-up value groups; (iii) Valuation of shares on net asset basis, also
called asset backing or intrinsic value or breakup value method.
Status : Answered
Options :
1. Both (ii) & (iii)
2. All of the above
3. Both (i) & (iii)
4. Both (i) & (ii)
Timespent (in sec): 44 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
/
Q17. Which is not an essential characteristic of a good report?
Status : Answered
Options :
1. Reader- orientation
2. Detailed
3. Precision
4. Relevancy
Timespent (in sec): 27 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Status : Answered
Options :
1. Profit and loss
2. Balance sheet
3. Ledger
4. Journal
Timespent (in sec): 8 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Q19. Assets which are held for a short period called ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ .
Status : Answered
Options :
1. Intangible assets
2. Contingent assets
3. Current assets
4. Tangible assets
Timespent (in sec): 6 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
/
Q20. Which of the following statement/s are correct to examine the Balance Sheet of the company?
Status : Answered
Options :
1. Assets = Liabilities + Shareholders’ Equity
2. None of the above
3. Both of the above
4. Assets = Liabilities + Share Capital + Retained Earnings - Amount in Treasury Shares
Timespent (in sec): 15 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Q21. What is the impact on fixed cost per unit with the increase in output?
Status : Answered
Options :
1. None of the above
2. Decrease
3. Increase
4. Constant
Timespent (in sec): 12 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Status : Answered
Options :
1. None of the above
2. Share capital
3. Dividend paid
4. Unclaimed dividend
Timespent (in sec): 11 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
/
Q23. As per Ind AS 113, the valuation techniques for fair value measurement are
Status : Answered
Options :
1. None of the above
2. Market approach, cost approach, income approach
3. DCF, NAV, WACC
4. Income approach, earning approach, market approach
Timespent (in sec): 9 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Status : Answered
Options :
Timespent (in sec): 40 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Status : Answered
Options :
Timespent (in sec): 11 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
/
Q26. A co. has liquid ratio of 3:1. Its stock is Rs. 1,20,000 and current liabilities are Rs. 2,40,000. Calculate the current ratio.
Status : Answered
Options :
1. 3.5:1
2. 2.5:1
3. 1.5:1
4. 0.0840277777777778
Timespent (in sec): 58 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Status : Answered
Options :
1. None of the above
2. Capital
3. Shares
4. Guarantee
Timespent (in sec): 37 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Q28. The Australian Accounting Standards Board comprises -----------members including the Chair:
Status : Answered
Options :
1. 14
2. 11
3. 15
4. 12
Timespent (in sec): 5 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
/
Q29. What is the full form of FCRN?
Status : Answered
Options :
1. None of the above
2. Federally Company Registration Number
3. Foreign Company Registration Number
4. Fund Classification Reference Number
Timespent (in sec): 15 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Status : Answered
Options :
1. I t is non-physical in nature.
2. It is identifiable as monetary asset
3. It gives the specific rights to the holders over several future years.
4. I t is possible for multiple uses at the same time.
Timespent (in sec): 26 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Status : Answered
Options :
1. Expense
2. Loss
3. Revenue
4. All of the above
Timespent (in sec): 11 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
/
Q32. The features of Corporate Financial Reporting are :- (i) Reliability ; (ii) Comparability ; (iii) Understandability
Status : Answered
Options :
1. Both (i) & (ii)
2. Both (i) & (iii)
3. All (i), (ii) & (iii)
4. Only (ii)
Timespent (in sec): 11 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Status : Answered
Options :
1. Flexible budgets are widely used in production and service department
2. A formula used in developing flexible budget is : Total Budgeted Cost = Fixed Cost + Total Variable Cost
3. Flexible budgets can be prepared for each of the types of budgets included in master budget
4. All of the above
Timespent (in sec): 20 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Q34. If the nominal value of the debentures cancelled is more than the price paid for them, the same has to be treated as ………….
on cancellation.
Status : Answered
Options :
1. Loss
2. Premium
3. Profit
4. Discount
Timespent (in sec): 35 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
/
Q35. Which Accounting Standard deals with Contingencies and Events occurring after Balance Sheet date?
Status : Answered
Options :
1. Accounting Standard 04
2. None of the above
3. Accounting Standard 07
4. Accounting Standard 02
Timespent (in sec): 7 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Q36. Which of the following is not an example of Verbal presentation of the information?
Status : Answered
Options :
1. Written Report
2. Group Meeting
3. Interview
4. Conference
Timespent (in sec): 27 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Status : Answered
Options :
1. Cost of packaging
2. All of the above
3. Costs incurred in resuming operations
4. Cost of Advertisement
Timespent (in sec): 17 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
/
Q38. ……………… ratio measures the interest on long term debt servicing capacity of the firm.
Status : Answered
Options :
1. Debt Service ratio
2. Capital gearing ratio
3. Debt – equity ratio
4. Fixed asset ratio
Timespent (in sec): 9 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Status : Answered
Options :
1. Miscellaneous Expenditure
2. Current Liabilities & Provisions
3. Not shown
4. By way of foot note only
Timespent (in sec): 23 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
/
Q40. Bajaj Ltd. issued 25,000 equity shares of Rs.10 each payable as Rs.2 on application, Rs.3 on allotment, Rs.2 on first call & the
balance in the final call. Archit, who has 1,000 shares paid full value of shares with allotment money. The amount to be debited to
bank account at the time of receipt of first call money will be.
Status : Answered
Options :
1. Rs.48,000
2. Rs.47,000
3. Rs.50,000
4. Rs.49,000
Timespent (in sec): 119 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Status : Answered
Options :
1. Cash Flow statement
2. Property, Plant and Equipment
3. Disclosure of Policies
4. Valuation of inventories
Timespent (in sec): 5 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
/
Q42. Select the correct statement-
Status : Answered
Options :
1. To determine the required rate of return, beta of a firm’s share is required
2. In a well diversified portfolio, the variances of individual securities would be quite insignificant
3. Systematic risk can be diversified
4. The risk of a portfolio of securities is measured by covariance
Timespent (in sec): 21 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Q43. What is the condition to Receive Share-Based when the entity receives the services that entitle the counterparty to the share-
based payment and condition on which the exercise price, vesting or exercisability of an equity instrument depends relate to the
market price of the entity’s equity instruments, either directly or indirectly exist?
Status : Answered
Options :
Timespent (in sec): 40 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
/
Q44. . ………………. is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between
market participants at the measurement date.
Status : Answered
Options :
1. Original cost
2. Fair value
3. Market value
4. None of the above
Timespent (in sec): 23 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Status : Answered
Options :
1. Capital loss
2. Revenue profit
3. Revenue loss
4. Capital profit
Timespent (in sec): 17 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Q46. In how many hours the listed entity shall submit to the stock exchange on, the conclusion of its General Meeting, details
regarding the voting results in the format specified by the Board?
Status : Answered
Options :
1. 24 hours
2. 12 hours
3. 36 hours
4. 48 hours
Timespent (in sec): 9 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
/
Q47. Which is not to be disclosed in the Balance Sheet of a Company?
Status : Answered
Options :
1. Subscribed Capital
2. Reserve Capital
3. Issued Capital
4. Authorised Capital
Timespent (in sec): 20 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Q48. Non-production overhead costs are not considered in stock valuation, because
Status : Answered
Options :
1. They are outside the control of production manager
2. They are incurred after stock has been brought to its present location and condition
3. They cannot be identified with individual product
4. They are fixed period costs
Timespent (in sec): 20 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Status : Answered
Options :
1. Profit & Loss Adjustment a/c
2. None of the above
3. Profit & Loss Appropriation a/c
4. Profit & Loss a/c
Timespent (in sec): 26 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
/
Q50. ……………….. budget helps managers in choosing a level of operations for planning sales volume.
Status : Answered
Options :
1. Performance
2. Fixed
3. Master
4. Flexible
Timespent (in sec): 17 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
CORRECT TO INCORRECT INCORRECT TO CORRECT INCORRECT TO INCORRECT CORRECT TO UNANSWERED INCORRECT TO UNANSWERED
0 0 0 0 0