## Welcome to Elite Online MCQs Test

Elite CA CAP I Online MCQs Test

1 / 52

1. The method applied for deriving regression equations is known as:

2 / 52

2. Laspeyre's method and Paasche's method do not satisfy.

3 / 52

3. For two events A, B, if P(A) = 2/3, P(B) =3/8 and P(A∩B) = ¼ then A and B are:

4 / 52

4. Which of the following type of sampling is suitable when the population consists of well - defined groups such that the elements of each group are homogenous and the groups vary from each other?

5 / 52

5. For the given five values 15, 24, 18, 33, 42, the three years moving averages are:

6 / 52

6. For a group of 10 items,

, ∑X2=24,270 and mode = 43.7. The Pearsonian coefficient of skewness is

7 / 52

7. For the following data, the coefficient of rank correlation is:

Rank in Botany : 1 2 3 4 5

Rank in Chemistry 1 2 3 4 5

8 / 52

8. There are 3 mangos, 4 apples, 5 oranges and 1 each of 3 other varieties of fruits. The number of ways of selecting one fruit of each kind is

9 / 52

9. A man can move from A to B at the speed of 6 km per hour. Had he moved at the speed of 4 km per hour, he would have taken 5 hours more to cover that distance, then the distance between A and B is

10 / 52

10. Rs. 68,000 has been divided among A, B and C in such a way that A gets 2/3 of what B gets and B gets 1/4 of what C gets. Then B's share is

11 / 52

11. The sum of all the three digit numbers, which leave the remainder 3 when divided by 5 is

12 / 52

12. 8% of a number is 39920, then what percent of the number is 74850?

13 / 52

13. Rita Saves Rs.320 During the first year, Rs. 360 in the next year, Rs. 400 in the third year and so on. This way she will save sum of Rs. 2000 in :

14 / 52

14. A machine in a factory is valued at Rs. 150,000. When will be the value of it reduced to Rs. 42,000 if annual simple depreciation is Rs.12,000

15 / 52

15. 10. What happens to total revenue when price increases?

16 / 52

16. 9. A short run supply curve of a market is:

17 / 52

17. 8. What happens to the supply of a good when the price of other related goods rises?

18 / 52

18. 7. When supply increases more than the increase in demand.

19 / 52

19. 6. Which one is not the exception of law of demand?

20 / 52

20. 4. Which of the following does not include as basic issues in economics:

21 / 52

21. 3. When the marginal rate of transformation is declining, PPF will have …. Shape.

22 / 52

22. 2. Economics is the positive science rather than normative according to …..

23 / 52

23. 1. A free-market economy solves its central problems through --------

24 / 52

24. A agrees to pay B Rs 10 Lakhs and B promises to bring for A, stars from heaven. The agreement is –

25 / 52

25. Execution of a agreement (bond) requiring employees leaving the organisation before the expiry of the term of service to pay compensation to the employer is considered as –

26 / 52

26. Which of the following statements is not correct?

27 / 52

27. Which of the following statement is not true about the minor?

28 / 52

28. Agreement without consideration is valid, when made-

29 / 52

29. Which of the following is not correct?

30 / 52

30. Which of the following is not correct?

31 / 52

31. Which of the following is valid offer?

32 / 52

32. Which of the following agreements is valid?

33 / 52

33. On the death of partner, profit (or) loss on revalution of assets and liabilities is transferred to the capital accounts of partners as per ______

34 / 52

34. Valuation of stock in accounting follows the principle of cost price or ____ which ever is lower.

35 / 52

35. Dishonour of a cheque deposited in bank is recorded in:

36 / 52

36. Which one of the following methods of Inventory Valuation matches current cost with Current Revenues?

37 / 52

37. Goods worth Rs.1,200 bought from Narayan have remained unrecorded. What will be the effect of the error on trial balance?

38 / 52

38. If a contingent liability becomes probable, it has to be:

39 / 52

39. Which is not only a subsidiary book, but also a principal book?

40 / 52

40. ________ is allowed by the consignor to the consignee to put hard work while introducing a new product in the market.

41 / 52

41. Fixed assets are double of the current assets and half of the capital. The current assets are Rs.3,00,000 and investments are Rs.4,00,000. Then the liabilities recorded in balance sheet will be

42 / 52

42. Cost concept basically recognises ____

43 / 52

43. According to which concept, the proprietor pays interest on drawings

44 / 52

44. The success of perpetual inventory system depends upon

45 / 52

45. If the opening stock is understated by Rs.10,000 and closing stock is understated by Rs.15,000, the effect on profit will be ____

46 / 52

46. Life Insurance premium paid by the partnership firm on the joint life policy of partners is

47 / 52

47. A, B & C were partners in a firm. For financial year 2015-16 the profits were Rs.180,000. The partners shared the profits in the ratio of 2:2:1. The Partnership deed is silent about profit sharing ratio. The adjustment entry will be ___

48 / 52

48. A Cloth merchant purchased furniture and recorded it in purchase day book. It is an error of ____

49 / 52

49. Depletion method of depreciation is applied in case of ___

50 / 52

50. Total Debtors of a firm is Rs.48000 before deduction of bad debts and after allowing discount. Bad debts Rs.2000 and discount allowed Rs.100. PBD is to be created at 5%. The amount to be debited to P&L A/C for PBD is_____

51 / 52

51. Salaries paid Rs.2,00,000 includes Rs.10,000 for last year, Rs.20,000 for next year and current year’s outstanding salaries Rs.15,000. Amount of salaries to be debited to P & L A/c of current year is ____

52 / 52

52. Discount allowed by Arun to Varun. Which is the Correct entry to be made by Arun?