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No.1 for CAICWA & MECICEC MASTER MINDS June 2015, CA-CPT Question Paper (Based on Memory) N MASTER MINDS" HYDERABAD, TIRUPATHI, VUAYAWADA. MASTER MINDS IS THE BIGGEST CA COACHING INSTITUTION IN SOUTH INDIA. WITH MORE THAN 20,000 ADMISSIONS. FOR VIDEO PRESENTATION ON ‘COMPLETE DETAILS ABOUT IPCC COACHING IN MASTER MINDS’ VISIT THE WEBSITE WWW.MASTERMINDSINDIA.COM. FOR IPCC ADMISSIONS CALL: 9885125025/26 Disclaimer: We have compiled this Question Paper, based on the memory of students who have appeared for, PT exam. Questions asked in the examination may have wrong/inadéauate infgfmation and/or ambiguous language. In that case the answers provided by the institute may differ ‘MINBS IS NOT RESPONSIBLE FOR ANY ERY ow . , are errors please bring them to our notice from these ideal answe' MISTAKES IN THIS Ques best answers. Still it Ou fi very effort has been taken to give _ (through e-mail. Mail id:¥nssprakash2012@gmail.com Also send your feedback to this mail id. CA - CPT_June-2015 Question Paper Session 1 1 Ph: 0863 - 22 42 355 www.gntmasterminds.com CA - CPT - June 2015 Question Paper (Based on Memory 1* session Marks: 100 Marks Time: 2 hi Part A - Fundamentals-of Accounting VY, ~ 8) 1. On the death of partner his executors are paid, the share of deceased partner in the profitsoh\) the firm till the date of his death. This apgquht is recorded in Profit and Loss “y 7 a) Adjustment b) Appropridt x ¢) Suspense 2. X Ltd makes an issue of 1, of Rs. 10 each payable as follows On Application ~ Rs. 5 On Allotment - Rs. 2.5 On Call - Rs. 2.5 One shareholder, holding 5,000 shares did not pay the call money. His shares were forfeited and out of them 3,000 shares were reissued at Rs. 8 per share as fully paid. The amount of Capital Reserve will be Rs, a) 16,500 b) 31,500 ¢)22,500 _d) None 3. Premium on Redemption of Debentures A/c is —_ Ae a) Personal ) Nominal (Income) b) Real ) Nominal (Expense) 4, The capital of a sole trader is affected by _ a) Purchase of raw material ) Commission received ) Cash received from trade receivables 4d) Purchase of an asset for cash 5. BRSis a part of a) Bank Account b) Cash Book ©) Financial Statements d) None 6. A Bill of Exchange matures Suddenly it was declared ast the next day is Sunday, Than}the d@@ Yate @f the bill will be__ I ers a) 15" July ) 18" July & b) 17" July 4d) 16 July 7. Salary payable to an employee Rs. 50,000. Which account is to be credited? a) Cash A/c b) Salaries A/c ) Outstanding Salaries A/c d) None CA - CPT_June-2015 Quest n Paper _Session 1. 11. 12. 15. Accord(fig to the Companies Act, 2013, prefétence shares are to be redeemed with in years B25 )30.— od) 35 Trial balance is prepared to locate__ a) Clerical errors b) Ommission errors ©) Principle errors) Allof the above. If there is no partnership deed, the profits will be shared by the partners_ a) As per capitals ratio. b) Equally ©)Asper seniority d) None of the above Cost of acquisition, which is yet to be allocated a) Accumulated cost bb) Written down value ) Net realizable value d) None For the year ended 31" March 2011, sales amounted to Rs. 20,00,000 (at 20% profit on cost), of which goods sold for Rs. 1,00,000 are lying in the godown of the seller at buyer's risk, These goods are treated as a part of _ a) Sales b) Inventory ) Sales returns d) None of these . All fixed assets are put together and all current assets are put together, under which of the folloyjingaccounting stages? a) Recording b) Communication GpAralysis d) Interpretation and Y are partners sharing profits and losses in the ratio of 3:2. They admitted Z for % th share. The new profit sharing ratio will be a) 9: b)9BS —) 95:6 d) 5:6:9 The Suspense A/c facilitates the preparation of even if the ___ has not been balance. a) Trial Balance and Financial Statements b) Ledger and Trial Balance ) Trial Balance and Ledger 4) Financial Statements and Trial Balance No.1 for CAICWA & MECICEC MASTER MINDS 16. A decrease in the provision for bad and doubtful debts results in __ a) Increase in Net Profit b) increase in Equity ©) Decrease in Net profit d) Both a) & b) 1, Calulate deprecation forthe 4 year undet~ sum of years digits method Cost of the asset Rs. 10,00,000 Life Time 5 years Salvage value 10% Le a) Rs. 60,000 b) Rs. hos LS ) Rs. 2,40,000 4) Ree Ho.00 Y wT @& o& 18, Mr. Z purchased goods for Rs. 20;0¢ 000;and sold 4/5 th of goods for Rs. 22,00,000,a¢ which he received Rs. 20,00,000 in cash. His Expenses amounted to Rs. 2,50,000 durig@the year. Mr. Z counted the net profit as RS. 1,50,000 for that year. Which concept is violated? a) Entity b) Periodicity ) Conservatism 4) Accrual 19. As per Section 133 of the Companies Act, 2013, companies cannot use the securities premium for a) The premium payable on redemption of debentures b) Bonus shares ) Commission or expenses on issue of securities d) Loss on issue of debentures 20. When the shares are issued to promoters for the services rendered by them Ale will be debited. a) Cash or Bank A/c b) Goodwill A/c ©) Preliminary expenses A/c d) None 21, of cash book is transferred to 6 a) Credit side of Discount allowed A/c 7). ) Credit side of Discount received A/e \F ¢) Debit side of Discount allowed é d) Debit side of Discount recehgiils ay Y w & ‘he 22. When recording of a transaction, substante of that transaction should be considered:apid not its legal form. This statement is 2cporting to 2) Substance over form ») Disclosure of Accounting Policy ) Both a) & b) d) None of the above CA - CPT_June-2015 Quest The total of Discount column on the debit sie) 23, All of the following are the advantages of accounting standards, except a) Accounting standards cannot override the statute b) Accounting standards reduce to a reasgpgble extent confusing variations in the iting treatments. ox ‘ey Accounting standards call for disclosure eyond that required by law KS )7 d) Accounting standards facilitate comparison of financial statements of companies 24, Bill at sight means the instance at which a) No time for payment is mentioned in the bill b) The payment is to be made on demand at any time ¢) The payment is made after a particular time d) Both a) & b) 25, The following are the features of perpetual inventory system except a) Inventory control can be achieved under this system b) Inventory cannot be determined without affecting the operations of the business ©) This provides information about the cost of goods sold d) This is costlier method than periodic inventory system 26. A sent to B goods of the invoice price of Rs. 2,00,000. 4/5" of these goods were sold by B for 1,76,000. Commission is to be paid at 2% 2. upto invoice price and 10% on any surplus price realized, What is the amount of commission? a) Rs. 4800 b) Rs. 3,640 4) ©) Repo 4) Rs, 8,000 xs 0 n e absence of agreement, the partners are titled to ‘) Interest on loan ) Salary b) Interest on capital d) Commission 28. As per the Companies Act, 2013 which of the following statements is false in respect of a Small Company? a) Paid up capital is less than Rs. $0,00,000 'b) Public company can be a small company ¢) Turnover is less than Rs. 2,00,00,000 d) Small company is not required to prepare cash flow statement as a part of financial statements. n Paper _Session 1. 3 Ph: 0863 - 22 42 355 www.gntmasterminds.com 29, An inexperienced accountant prepared the following trial balance a) 3,300 Dr. ) 3,500 Dr. 30. is liable from 2) After the date of admission b) Before the date of admission ©) Before and after the date of admission d) None 31. What will be the effect on Capital a/c after rectifying the following errors i) Purchase of a cycle for Rs. 3,000 was debited to Conveyance A/c (Fixed assets are depreciated at 10%) i) Credit purchase of goods from x for Rs. 2,500 was wrongly entered in the sales book (iil) Cash received from Mr. A Rs. 1,500 was posted to the A/c of Mr. B 2) Debited with Rs. 2,300 b) Credited with Rs. 2,300 c) Debited with Rs. 2,700 d) Credited with Rs. 3,800 32, List price of the machinery purchased Less: - Trade discount Delivery Charges Erection Charges Annual "ate actor ae 380 100, ‘Additional Spares to increase earning ¢ Rs, 40 Annual insurance premium R§(26,000 Calculate depreciation for the 3“-Year under WDV method a) Rs. 51,840 ©) Rs. 56,295 eh oD city bb) Rs. $4,270 d) Rs. $7,105 CA - CPT_June-2015 Question Paper Session 1 33, 34, 35, Cash received from Ramesh Rs. 1,500, is recorded correctly in cash book, but debited to his account. Because of this error. Particulars Debit | Credit Provision for bad debts | 450 ~ a) Trial balance shows Rs. 3,000 more on the Bank Overdraft 1600 | _- S debit side Capital eT b) Trial balance shows Rs. 3,000 more on the Trang DOL = | A> vo edly Discount allowed B00] QW” _ Q A Tr@palance shows Rs. 1,500 more on the » ebit side Opening stock G qe Trial balance shows Rs. 1,500 more on the )) Veredit side Government raised funds through taxes and spent them for the public expenditure. The deficit or surplus at the end of the year is a) Transaction b) An event ¢) Transaction as well as event d) Neither a transaction, nor an event As per trial balance on 31-03-2014 Provision for bad debts Rs.1000 Bad debts Rs, 2000 Sundry debtors Rs. 30,600 Additional Information: - Further Bad debts - Rs, 600 = Make provision for doubtful debts ~ 5% = Make provision for Discount on debtors - 2.% Provision for discount on sundry debtors will be 612 b) 600 570d) 560 . Amit & Anil are partners in the ratio of 5:3, Their capitals are Rs. 2,50,000, & Rs. 2,00,000 respectively. Atul was admitted and he brings Rs. 50,000 as capital and Rs.16, 000 as his share Gf goodwill for 1/5 th share of profits. Bafaheb of Capital Accounts will be 260,000 : 2, 06,000 : 50,000 2,20,000 : 1,82,000 : 66,000 ‘) 2,92,000 : 2,25,500 : 50,000 ) 2,82,500 : 2,19,500 : 66,000 The cash book showed a credit balance of Rs. 9,000, but the pass book made up to the same date revealed that a cheque of Rs. 2,000 had not been presented for payment and a cheque of Rs. 3,000 paid into account had not been cleared. The balance as per pass book will be a) Rs. 8, 000 'b) Rs.10, 000 ¢) Rs. 14, 000 d) None No.1 for CAICWA & MECICEC MASTER MINDS 38. HDC Ltd. Issued 10,000 — 12% Debentures of 100 each at Rs. 94, on 1 Jan, 2010. Under the terms of issue 1/5" of the debentures are 42, When goods are sold on sale or return basis casually and if the buyer accepted goods the entry will be redeemed annually. First. redemption on a) Trades receivables A/c Dr. 31/12/10. Calculate discount to be written off .)~ To Sales A/c in 2013 DS & ~) b)sifesVe_e. MS oO 2) 8,000 b) 16,000 c) 20,000 ays299) g Ufo Trades receivables A/c ar oe oYsaesale or 59.4.8 care pars ina tm. 8 resto > eae the firm. Old profit sharing ratioig22:1. atten) <7 e retirement A & C decide to2share pidtits GO” d) No entry equally. They had taken a {eis life Rs.2,00,000 with the ¢sutrendé\value? 5.40000. What will bethe amount credited to the partners’ capital ac receiving the JLP amount, maintained at surrender value? a) Rs.2,00,000 b) Rs.40,000 ©) Rs.1,60,000 d) None of these 40. Indian oil is a bulk distributor of petrol. A perpetual inventory of petrol on hand is taken when the books are closed at the end of each month, The following summary of information is available of month Sales Rs.37,80,000 General Administration cost Rs.1,00,000 Opening inventory: 1 lakh liters @ 12/- per liter Rs.12,00,000 Purchases (including freight inward) June-1 2 lakh liters @ 11.40 Rs. Per liter. June -30 1 lakh liters @ 12.12 Rs. Per liter. June—30 closing inventory. 1,30,000 liters. Using the information given above compute the amount of cost of goods sold for the month of June using IFO method. a) Rs.31,50,000 6) Rs.27,00,000 _(\S ) Rs.32,60,000 a) Rs.31,20,000 Oo I 31.03.2015 \ Inventory on 1" Jan.2014 Purchases Manufacturing expenses Administrative expenses Financial expenses ‘Annual insurance 41. y Sales 7,00,000 G.P is 20% on sales. Find net profit a) 8,000 b) 89,000 ) 83,000 4d) 1,01,000 CA - CPT_June-2015 Question Paper Session 43. Which of the following statements is false? a) Loss on reissue should not exceed the amount forfeited b} When shares are reissued ata loss such loss is debited to Forfeited shares a/c c) If loss on reissue is less than the amount. forfeited the surplus should be transferred to Capital reserve a/c d)if the and. forfeited amount exceeds the face value of shares reissued the excess amount is always credited to Share forfeited a/c reissued amount 44, Profits & Losses of Mr. Rathore were - 2011-12 4,00,000 Profit 2012-13 3,60,000 Profit 2013-14 60,000 Loss 2014-15 5,00,000 Profit Capital employed is Rs.15,00,000. Market rate of interest on investment is 10%. Rate of risk return on capital invested is 2%. Remuneration of alternative employment of the proprietor if not engaged in business is Rs. 60,000 p.a. Calculate the value of goodwill at 5 years purchag@s of super profits on the basis of Q verapnprot of the last 4 years. 9) %50,000 b) 7,50,000 ) 3,00,000 . X and ¥ entered in a joint venture X supplied goods worth Rs. 60,000 and paid Expenses Rs. 6,000 Y supplied goods worth Rs, 14,000 and paid Expenses Rs. 1,000 Y sold the goods for Rs.1,00,000 and he is entitled to a commission of 5% on sales. Find the profit on Joint Venture a) 14,400 b) 14,000 ©) 13,000 4) 13,200 1, —______$ Ph: 0863 - 22 42 355 www.gntmasterminds.com 46, A firm has 8 employees, each getting a salary of Rs. 8,000 p.m. After Ist Jan 2014 their salaries increased by 10%. On 1" July, 2014 they employed two trainees at salary of Rs. 2,500 each per month. The firm paid 11 months salaries only and has to pay the last cone month's salaries. The amount of total «(> salary paid and outstanding salaries as on 310" Y however, treated like actual sales andlare passed through the day book. Just end of the financial year, i.e., on O: 2011, 300 such accounting machi ‘out at an invoice price of Rs( 280 each, Out which only 90 accountiig mack )artner without having real interest, can give (ake name to the partnership? ©) a) Active partner b) Dormant partner Nominal partner d) None of the above 65, Damages which are in the nature of penalty. accepted by the customers at Rs. 250 eagHand a) Vindictive damages b) Nominal damages as to the rest no report is forthcoming Wat is ) Ordinary damages d) None of the above total effect on sales? > a) Sales will be reduced by Rs. 61, $00" 66, When partnership is compulsory dissolved? b) Sales will be increased by Rs. 61,500 a) All the partners are insolvent ) Sales will be increased by Rs. 60,000 b) Firms business become unlawful d) No effect ¢) All but not one becomes insolvent 4d) Allof the above CA - CPT_June-2015 Quest n Paper _Session 1. 7 Ph: 0863 - 22 42 355 www.gntmasterminds.com 67.___ is a stipulation collateral to the main Purpose of the contract which creates right to claim damages and not to rescind the contract a) Condition b) Warranty ©) Both condition and warranty d) Neither condition nor warranty 68. An unregistered firm is not a a) Legal association ») Illegal association ©) Association of person d) None of the above 68. Under Indian Partnership AQ)’ yi932.cn absence of any agreement the ia the partners of the firm are NO a) Entitled to profits in capital ratio S) o b) Entitled to profits according to seority ©) Entitled to profits equally ~ d) Entitled to profits according to their balance in current account. 70, Under the sale of goods act, 1930. The risk prima facie passes with _ a) Ownership b) Transit ) Discharge of contract d) Delivery of goods 71. The liability of a newly admitted partner in a partnership firm __ a) Liable to the debts before admission b) Liable to debts after admission ©) Any time after his retirement upto death d) Liable before or after admission 72, The court in a case, may order specific performance of the promise made by a party in acontract a) When a contract is voidable ~¥ b) When damages are adequate remedy ) When defaulting party is not Fa damages Oo” & a) Buyer should not be careful while cele b) Buyer should be careful while buying \” ) Seller is responsible to tell the beg d} None of these 73, 74, In which of the following cases restraint of trade is valid? a) Mutual agreement b) Sale of good will ©) Business contingency d) All of the above (OF. One person wants to travel from Tirupathi to Chittgony, The bus traveling from Tirupathi to Q erin comeste the bus station. Rison a) ie fied offer b) Express offer r gieresiic offer d) None warranty? a) Warranty as to undisturbed possession b) Warranty as to dangerous nature of goods ¢) Warranty as to existence of encumbrances d) Warranty as to custom or usage of trade 77. In the absence of partnership deed partners are entitled to a) Salary ¢) Interest on capital 4d) Share of profits in capital ratio b) Interest on loan agreed to purchase a ring from ‘S’. x believed that ring was a diamond. S knows that X was under a mistake and did not disclose the fact. Then xcan__ a) Cannot cancel the contract b) Can cancel the contract ©) Can cancel the contract under fraud d) Can claim for damage 79. X & Y entered into a contract, one part is legal and another is illegal the legal & illegal, part is not separable than the contract is ®) b)Void —¢) Voidable _d) None denotes that the parties to a contract are t bound under the contract. Vey Breach of contract b) Waiver of contract ©) Rescission of contract, d) Discharge of contract 81. A partner cannot demand his proportionate share of premium from other partners at the time of dissolution of partnership a) In case of premature dissolution b) By death of one partner ¢) Mainly due to misconduct of partner paying premium 4d) Any of the above CA - CPT_June-2015 Question Paper Session 1 8 No.1 for CAICWA & MECICEC MASTER MINDS 82. On a dissolution of a firm the partners selling the goodwill ofa firm cannot a) Carry on a similar business b) Compete with the business sold by them to purchaser ore? c) Represent themselves as carrying on ads y business d) All of the aboves(\\ Q 83. A entered into partnership asreer Cdith 8. In which A makes an ed addition of capital to be condi after dissolution of firm a) A is not entitled to 4 advances 88. b) After dissolution of firm A's right i to his capital only not to advances ©) A will be entitled to interes frm earn profits d) A is entitled to claim interest till date of dissolution 84, Ais a manufacturer of Ball Pens. He advertises in the trade press that in future the retail price 89, of his pen will be Rs.5 and strict action will be taken against who is not observing this price. B had read the advertisement, but he forget and retails the Pen at Rs.8. Advice A? a) A can take a serious action against ‘8’ because it was clearly written in the advertisement b) A cannot take any action as there is no privity of contract between A and B. ©) A cannot take any action as it is an unintentional mistake d) A can take a serious action because B had reed the advertisement before retailing 85. X nephew ran away from house. Y the serv of X find the X's nephew without knowing t is X reward for finding nephew. Os a) Y cannot recover because he can erccen 9 the offer ae b) ¥ cannot recover any exper(iiture ores IV by him. WwW & y ) J ¥ can recover from X 7 ot. d) Y can recover by order of court. =o) of) 86. 'N’ singer contracted with a thea(¢e\tnanager to sing a song, Due to her illness she failed to perform the contract, she received 20,000 as advance 2) N must refund Rs.20,000 CA - CPT_June-2015 Question Paper Session 1 b) N need not refund Rs.20,000 c) They must enter into new agreement d} None of these X is minor who had broken his left arm then doctor, had treated him. How can the doctor regain his cost of treatment {@) Minor parents are liable os b) Minor is liable )He cannot recover because the agreement with minor is void-ab-initio 4) Minor personal property is liable Viru agrees to buy the crop of rice that would yield in Y's farm located in Punjab at the rate of Rs.2,000 per 100 kg. This deals under the sale of goods act 1930 a) Agreement for sale of present goods b) Contract of sale ©) Agreement to sale of future goods d) None of the above 1 %V,Z are partners and Z is murdered by ‘W’ W comes with a proposal to enter into partnership and Y objects. What is the situation? a) Estate of ‘W'is liable after 2's death b) Wis liable after 7's death ¢) Z's estate is liable for the debts before his death d) Z's estate is not liable for the debts after his death |. A,B,C and D are carrying on business of mobile exports. A was well aware of the price of mobile and good knowledge in the purchasing of mobiles. A made personal transaction in the nnaméjof the firm, Ya) wil not be liable for firm 6) It is enough to inform about his private \ business ) Ahas to account personal profits to firm dd} Ahas done fraud Mohan invited Sohan for a dinner, Sohan by expending Rs.200 went to Mohan’s house. By the time Sohan reached Mohan’s house it was locked and Sohan stayed in a hotel. Can Sohan a) Sue Mohan for damages b) Cannot Sue against Mohan ) Sue Mohan for the total charges d) None Ph: 0863 - 22 42 355 www.gntmasterminds.com 92. Peter buys a mosquito killer machine assuming 97. An agreement with minor is that it is worth 50,000/-. But actually it costs a) Valid b) Void ab initio 5000/-. The remedy available to peter ©) Voidable agreement —_d) None of these a) He can avoid contract on the ground of mistake b) He can’t avoid contract on the ground of mistake ©) He can claim Rs.5,000 ) He can claim Rs.50,000 93, A share of parersinaparnersinso? <6 2) Gan be transferred according the wis andconditions ofdeed = SY IF b) Can be transfer with neice Grong» partners Oe ¢) Cannot be transfer at all or 4) Can be transfer with the cofont of recognized stock exchange (Cu 94. If any one of the joint promisors makes a default in making contribution. How will it be settle down by other promisors? a) Representative of promisor will be liable to contribution b) Contribution will be dismissed automatically ¢) Representative of a promisor will be liable along with other joint promisors d) The remaining joint promisors will be liable to contribute. 95. Kedar promised to pay Rs.5000 to car repairer the car repairer incurred expenses but Kedar refused to pay the agreed amount. Is the car repairer can? a) Car repairer can claim incurred expenses bb) The car repairer can claim Rs.5000 ©) Car repairer cannot claim Rs.5000 d) Car repairer cannot file a suit OS. 96. Under the sale of goods act 1930, We theo | seller delivers to the buyer a quantityless than” (2 the goods broueht under the sohtrace the, As uyer Wy @ & a) May reject the whole good delneed 6 b) Should not reject the goods deliver more quality might he demanded { c) May resell the goods delivered (C50 d) Gives price less than contracted price for the goods delivered. as CA - CPT_June-2015 Quest n Paper _Session 1. 10 No.1 for CAICWA & MECICEC MASTER MINDS Key - Part A - FUNDAMENTALS OF ACCOUNTING CA - CPT_June-2015 Question Paper Session 1 1. c 2. A 3. A 4 B 5. D 6. c 7. c 8. A 9. A 10. B 11. B 12. A 13, € ta. A 15. D 16. o 17. D ‘ig. D 19. A 20. B 21, c 22, A 23¢ A 24, D 25. B 26. A 27. A 28. B 29. A 30. A 31, A 32. 8 330 A 34. B 35. c 36. A 37. 8 38. A 39. o 40. A 41. c 42. D 43. D 44. D 45. B 46. B 47. 8 48. D 49. c 50. D 51, B 52. A 53. D 54. A 55. A 56. c 57. 58. 59. 60. Part B ~ MERCANTILE LAWS 61, c 62. D 63. D 64. ¢ 65. A 66, D 67. 8 68. B 69. c 70. A 71. B 2. D B. B 74. 8 75. A 76. c 77. 8 78. A 79. B 80. D 81, D 82. c 83. D 84. B 85. A 86. A 87. D 88. c 89. D 90. c 91, B 92. 8 93. & 94. o 95. B 96. A 97. 8 98. 99, 100. THE END. a1 ICWA’ ] ICWA FINAL Bil: FINAL ure bet" RANK =F 457 RANK 4 RANK : ™\ - ICWA FINALS 1° RANK aes Dy» 1° RANK J y ICWA wre) ’ ' ICWA FINAL 17RANK 680%) 41s" RANK Pate tt ie Hh Ca : e a _ CA - CMA « CS e MEC « CEC GUNTUR | RAJAHMUNDRY | KURNOOL | VIZAG | NELLORE HYDERABAD | VIJAYAWADA | TIRUPATHI PIONEEAR THEN, LEADER NOW CPT JUNE_35/15 | FINAL@ > H.T. No.: 34380 icwn 6 M. Deepthi H.T. No.: 128626 MARCH - 2014 és asBons! iewn be (CMA) FINAL LEELA NAG KUMAR DODO? 17 No.: 091407 £ 201 13 i FEB & = a5H00n) CA Le! Pcc ,. 0,080 HT. No: 412670 A 28 \ yy \ hr Pe) ae |) ts, OUR CMA FINAL ALL INDIA 1ST RANKER TULAJA BAVANI IS HONOURED BY ei ee Pe estes) Hon’ble Unior ister for “jnorit, ‘9 ° \ Zz "id i? Q 2014 FEB 65 Institute of Chartered Accountants of India President mez eer Rocker serene CeO EE eRe orale nino akan kci a 2 HETSO 13 WO 8 2@S6 2015 «= ern OAD 0260 - thotamt atogSHS: SD-Ld5 sows wHo ard | Sapo’ Gas oryow ArGods Sor Q5Qo0E, Darg D.SmVSrwPSH aSdeopgS wh wyh | EF oGod) wh goddi (oddn) Nore SH SoHoSa Sos BSS Leys) ArseS BOrr&. Beso 115 SrsAHS° a6As addon 65S arOs HS srepesmos® erxorr dos How Sasrh Mood Stoo Sverre Oay6 sSosharsed aormh Sd¥o, Bod so wodooarysa APES Modardo BO drv. GY arsGorr x6As mo-Hde8 Sde Seo Dears exessErre NOSE weyySS AAcsoa Eo W oB HoBrR Aas wHSoGowrso OQSGoer &. a NOTE: 09,0500 Davan® DAB ae 0g Qe AeEP,©0 THIER) BATA Bae HxsoO0d0G. 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NO.: 130870 ttt.no.: 132012 IcWA q La ww eed ae h cuca KUMAR ya \ VC A. 7" / | \ = p A , e p Y 2 ; © . 4 iG : WES The pees ee — pe CHL. SRINIVASA’REDDY — a Si). Hany PRIYA ‘ sy a he ee gn Aad \CWA, | HIT. NO.: 139297 | HT NONI134912 a > ‘e i f Foundation enyeSySab INDIA A598 C ae §9.90A% ~ ~ ~~ | ; i\" eu Note : a 10th class, Intermediate & emo CA Quiz 4 MP 10 O60 “allan @ ea i Clo Oe “aay Babols, Rita Pen teco Esra) Maeva Par iitiers] laces COACHING FOR CPT FAILED STUDENT Todays CPT question paper with answers key will be available @ CPT FREE | for download after 3 days in www.mastermindsindia.com J IN CPT - REVISION BATCH (CONDITIONS APPLY JAJARITY OF THEM ARE FROM COBATCH | = 1. Soto Hoan? aoagtven view, hth Sova oyotoen day, Himrmot Seximiiain? JS Goto Dwctoo mowidabein? 2. 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Prk 4 ; SirbH ado Sog srt Gdar Hiaryora SsSohotioys. 7 AGASSS ays worth Sao, goths sors Cass Seo, ser DEC 20155 CPT dS apatod8ob Ee hoy eat OME ero Nee, wis dyes Sis ooeenes DOS BS Exes! nxkevBowsar Sry. NES syVOE Savy novest SOS OoryB HASLG eixyeho Rrdorerh grid EisoG) DDGES* ePoGod a5 (Brrr Sortaryo. Reo wssosstio DEAE GP. 6 Of SASS eBiyho SDspocioryes. NEXT IPCC REGULAR | BaTcH UNEQ y ® are CPT REVISION EXAMS & STUDY HOURS BATCH. 0, CPT Saf exsiit0 Sti, Soo Sbyen ss PES SY crew omwod oragho HH HE Sorm ABS Daas and. Oo #@ Revision Exams & Study hours A6gxoShod Sy6q06, ato India Ga THE BEST. pe Syllabus © $55 dixie CPT Public Examinations 8 Htxxn 25 Revision Exams soc» Pre Final Exams (pe Hoon $H5 Dw), @ 6 Revision Exams a0 008 soa doatpen All India vate aepoert. #@ Experts £6,8%n68 Study hours sooctw Doubts Clarification. Neiute R 1 Gi Both Groups x (at Guntur, Hyderabad, Vizag, / @ Expert Team of Faculty 3 0089 Research wa Saint Jas Question papers. Ta cee at Nellore, Rajahmundry | Oo ae Doe cane, Performance ® Monitor Doin. OGIOBER 1 fe) Kurnool, Vijayawada, Tirupathi) # CPT & wits S208 Sxvtos, avdar 8 batched Join Osscy. # Hostel Wesd.0 Sot. A, Sushma Sireesh G, Sandesh Reddy V. CN pt M. SAI BRAHMA Tey aes HT.NO. 27101 _ HT.NO. 139129 as i \\HT.NO. 132860 / ss f . per ANK ae RAN RAN 192/200 197/200 194/200 CELEBRATING THE INDOMITABLE SPIRIT OF ENTREPRENEURSHIP IN EDUCATION ar nl a ee We} ee pee eA ee to) , Ciel, mT eniolo loan ; 206) lela teleN Sh 5 GUNTUR VIZAG RAJAHMUNDRY KURNOOL NELLORE TIRUPATHI VUAYAWADA HEAD OFFICE: DHABA GARDENS, BRANCH: BRANCH: BRANCH: BRANCH: BRANCH: 3/11, BRODIPET, Te SRI VENKATESWARA ABOVE MORE SUPER MARKET, § CHINNI KRISHNA PARADISE, HATHIRAMJI COLONY, REC COMPLEX, GAYATHRI NILAYAM, OPP NUOKALAMMA TEMPLE, COMPLEX, REVENUE COLONY, JAMES GARDENS, ANNAMAIAH CIRCLE, NEAR KOTHAVANTHENA BUS STOP, GUNTUR -522.002. JB year post oFFice a0 Floor, fy THADITHOTAJUNCTION, NANDYAL ROAD, NEAR PSR BUS COMPLEX, J AIRBYE-PASS ROAD. CLL: 50m mao onl CELL : 98851 25025/26/03 GOPALAPATNAM " RAJAHMUNDRY -533103. KURNOOL -518002. CELL: 87906 59656 ) CELL: 8978180843 ) CELL: fiey ans CELL :92487 333 25/03 CELL : 92487 333 73/70 ) CELL : 92487 333 42/65 92487 33308 92487 33377 @ S.R.NAGAR (Admin Office) : D.No.: 7-1-621/107, OM PLAZA, 2nd Floor, Opp. $.R. Nagar community hall. Near SR.Nagar Police station. 2 _, @ Ameerpet : D.No.: 7-1-613&614, Jhansi Lakshmi Bhai Bhavan, Beside SBI, Opp. Vellanki Foods, Near Elephent House. Call: oe a ® Dilshukhnagar : D.No.: 16-11-741/5/1 C&D, Moosh ram bagh road. Vasan Eye care lane, Opp: Noble Degree College. 97487 92487 ce € @ Vanasthalipuram : Sri Ganesh colony, Saheb nagar khurdu. Near pannamo busstop, Opp: Mega Mart show room. 33361 33362 o = @ Hyderguda : D.No.: 3-5-865 Lakshman bapuji bhavan, 4th Floor, Near Appollo Hospitals. <= 8 @ LL.B. Nagar : Mother Terasa Bhavan, Road No.1, Chandrapuri Colony, Sitara hotel back side, Vijayawada National Highway, Ring Road, L.B. Nagar. ®@ Kukatpalli : Basara Bhavan, Sai Nagar, Nizampet 'X' Road, Near Kukatpally. i => 7 r\ rw. \ =a IPCC LONG TERM BATCH. CENTRAL IPCC S98 2 Hayat S208 a8 ao SxmSSd00 2@Gre OT = a] Cc ot DOG, DeAKhow Gécavrisad a LONG TERM S208. a 3 26° Academic Programme gs60 May 2016 & Gln IT TUR: So Ay LS Students wes Group-1 Exam apanoxséoo atotbéoo8. NOV Sleeve 2016 & Group-2 Exam gronoditoo axnrnesvod. S00 IP(*C1 & ve Group-1 8 singsab 82.908 ain Students si svar, 0° — ws SY = Denswoewey, 52206 Group-1 8208S deen Group-2 Fen 74 Accounts Paper Svea SO& S5206 Badd ator ehow, HOSTEL & pe) 8 2m Seo Guntur (Head office) & amgab sor. (SEPARATELY FOR BOYS & GIRLS) | celal) ne 1st t ime in a: a eI ha Wr) ae inai, Bang ae oF | er ns anches ee uding at Guntur, OUR Cental I.C. Batch S soMaso C.O. Batch & CPT & Sw aAweto, orf wo Admission Mio Btorpesoow. Ss erie Academic programme Store e@oe&o0®. C.0. Batch od Central Ofice Batch. Rm SSoo mootowdiods SHuegsao Sotso. Aeqrtesorr CPT 53 160 Saw woSSo oH Awt,eo Sw aeos C.O. Batch S® Admission Maj~bo etoroeso0@. I.C. Batch #08 Intensive Care Batch. R@ Soo Coodmtod sesso Sod. Aoqedesom CPT H 140 Saw WOSEOS DER Hvet,0 SWS aveod |.C. Batch 6? Admission geXsi,0 BtoeHo0H. L A.C. Class Rooms. | An exclusive programme to crack top 10 ranks in CA-IPCC exams. ) Integrated syllabus with research oriented teaching. | 2:1 system of academics which means that out of total working hours 1/3rd will be used for revision and counselling by senior expert faculty. | CDF Programme (Concepts, Definitions and Formulae) to strengthen the Fundamentals. }| Mind Space increasing programme to focus on mental ability and quantitative aptitude. -) Language enrichment programme to develop communication skills. | Separate Academic Programme under the Guidance of CA Directors. 4 Motivation Programmes by eminent personalities like Sri Yandamoori veerendranath, Sri B.V. Pattabhiram, Sri Gampa Nageswararao, Sri Jaysimha, Sri Rajesh Murthy, Sri Satya Nagesh, Sri Akella Raghavendra, Sri K.P. Pradeep etc. ~ Available only at Guntur (Central office). 4 Besides Materials, Students are encouraged to read additional Text books. / Students are encouraged to read personality development books just like their course material. | Separate question papers and separate track sheet for exams. U Student can become an all rounder and not just a good scorer. SOME OF OUR GUEST FACULTY FROM OTHER STATES SRI. P. SUBBARAMAN (CHENNAI) BCOM, MBA, MET TEACHING EXPERIENCE - 12 YEARS HE HAS BEEN TEACHING TAXATION FOR BOTH LEVELS OF THE CHARTERED ACCOUNTANCY COURSE IN MANY INSTITUTIONS IN CHENNAI, KARNATAKA, MUMBAI. HE IS ALSO KNOWN AS TAX MASTER BY STUDENTS SRI. CA. C.V. LOKESH (BENGALURU) TEACHING EXPERIENCE - 8 YEARS. HE IS TEACHING AUDITING FOR BOTH LEVELS OF CHARTERED ACCOUNTANCY COURSE. HE IS VISITING FACULTY FOR SO MANY REPUTED INSTITUTIONS IN BENGALURU, CHENNAI, HYDERABAD AND MUMBAI. CA. ALOK AGARWAL (HYDERABAD) TEACHING EXPERIENCE - 10 YEARS HE HAS BEEN TEACHING INDIRECT TAXES IN CA-FINAL FOR MORE THAN 10 YEARS IN SO MANY REPUTED INSTITUTIONS IN A.P. & TELANGANA M.COM.. CM TEACHING EXPERIENCE - 15 YEARS MR. BALALOGANATHAN IS A QUALIFIED COST ACCOUNT AND wer BALALOGANATHAN (CHENNA UNIA,, SRI. CA. K.SHANMUGANADHAM (CHENNAI) TEACHING EXPERIENCE-MORE THAN 15 YEARS. HE TEACHES ACCOUNTANCY AND ADVANCED ACCOUNTANCY FOR IPCC AND FINANCIAL REPORTING FOR FINAL AT ICAI-CHENNAI, BENGALURU, CALICUT, ERNAKULAM, MYSORE, COIMBATORE, TRIVANDRUM, VIJAYAWADA , ERODE, PONDICHERRY AND ALLEPPEY AND OTHER REPUTED INSTITUIONS AT BANGALORE, HYDERABAD, COCHIN, CALICUT, CHENNAI, COIMBATORE AND MUMBAI. CA. RAMANATHAN MEYYAPPAN (CHENNAI) TEACHING EXPERIENCE - 4 YEARS. TRAINER IN FINANCIAL REPORTING FOR CA-FINAL. HE IS ALSO VISITING FACULTY FOR SO MANY REPUTED INSTITUTIONS IN CHENNAI, VIJAYAWADA & GUNTUR. SRI. CA. G.SAIMUKUNDHAN (CHENNAI) TEACHING EXPERIENCE -7 YEARS HE HAS BEEN TEACHING ACCOUNTANCY, ADVANCED ACCOUNTANCY, FINANCIAL MANAGEMENT FOR IPCC AND SFM FOR FINAL IN MANY INSTITUTIONS AT BENGALURU, CHENNAI. SRI. CA. RAJEEV RABINDRAN (COCHIN) TEACHING EXPERIENCE - MORE THAN 15 YEARS SENIOR FACULTY FOR SIRC OF ICAI COCHIN AREA FROM JUNE 2000. HE TEACHES COMPANY LAW, CORPORATE LAW AND ALLIED LAWS. A REPUTED FACULTY IN THE LOCALITY OF KILPAUK, CHENNAI, FONDLY HAILED REMEMBERED AND CELEBRATED BY THE STUDENTS AS BALA SIR. HE HAS MORE THAN 15 YEARS OF EXPERIENCE IN TEACHING PROFESSIONAL STUDIES IN THE STREAM OF CA AND CMA. HE IS WELL KNOWN FOR HIS SIMPLIFIED AND EASY WAY OF TEACHING SFM & AMA BY THE STUDENTS OVER THE PAST ONE AND HALF DECADE. & STILL LOT MORE....... "This is not a document for legal purpose. This is only for your information". No.1 for CAICWA & MECICEC MASTER MINDS June 2015, CA-CPT Question Paper (Based on Memory) N MASTER MINDS" HYDERABAD, TIRUPATHI, VUAYAWADA. MASTER MINDS IS THE BIGGEST CA COACHING INSTITUTION IN SOUTH INDIA. WITH MORE THAN 20,000 ADMISSIONS. FOR VIDEO PRESENTATION ON ‘COMPLETE DETAILS ABOUT IPCC COACHING IN MASTER MINDS’ VISIT THE WEBSITE WWW.MASTERMINDSINDIA.COM. FOR IPCC ADMISSIONS CALL: 9885125025/26 Disclaimer: We have compiled this Question Paper, based on the memory of students who have appeared for GPT exam. Questions asked in the examination may have wrong/inadéquate infofmation and/or ambiguous language. In that case the answers provided by the institute may differ from these ideal answe' _ (through e-mail. Mail id:ynssprakash2012@gmail.com Also send your feedback to this mail id. CA - CPT _June-2015 Question Paper _Session 2. 1 Ph: 0863 - 22 42 355 www.gntmasterminds.com CA - CPT — June 2015 Question Paper (Based on Memo! 2% Session Marks: 100 Marks ime: 2 hrs. Part A- General £cor onomics Oy 4. When the price of a commodity increases from{\” 9) Horigff@l Demand curve, Parallel to Xaxis Rs to Rs then the demand decreases SS. indicat, that the elasticity of Demand is__ 10%. The price Elasticity of demand is__/) @re b)infinite ead ded joe ost G . 39. the meaning of time element in economics 2 is, show. a) Calendar time b) Clock time a) Price & output, ©) Operational time which supply adjusts with ) Price leadership the market demand d) None of these d) Collusion among rivals ( 11. An IC curve is a curve which represents all 3. Which of the following is not a constimption? those combinations of two goods which give 2) Burning of gas when cooking of food satisfaction to the consumer. ») Burning of furniture in an accident of fire a) Greater b) Increasing ) Eating of an Ice-Cream ) Decreasing d) Equal d) Burning of crackers on Diwali 12, __isthe another name of PPC. 4. When TU is maximum, MU is, 2) indifference curve a) Zero b) Negative b) ISO - Product curve ) Fall d) Positive ) Transformation curve 4d) Dimension utility curve 5. Planning curve is related to which of the following? 13, All wants of an individuals are not of: a) Short-run average cost curve a) Equal importance b) Long-run average cost curve b) Immediate importance ) Fixed cost curve ¢) Fixed importance 4d) Allof the above d) Average variable cost curve es a, Change in demand due to change in price is 6. Long-period production function is related