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MCQ Solution | CA Inter | Advanced Accounting - Sep 24
For the first time ICAI has officially released MCQ paper. A detailed discussion on MCQ solution is available at the following link.
Click here to access Discussion and Video Solution
The order of questions is different for different students.
| Question | Option | Answer |
| Kay Ltd | ||
| 1 | C | Create a provision for Rs. 45,000 and Disclosure of contingent liability Rs. 5,00,000 |
| 2 | A | Adjusting event - full adjustment of Rs. 75,000 |
| 3 | A | Revenue - 23,50,000 22,00,000 + 75% of 2,00,000 |
| 4 | B | 60,000 |
| 5 | B | 1,65,500 1,50,000 x 12/12 + 50,000 x 5/12 - 32,000 x 2/12 |
| 6 | C | Q Ltd & R Ltd |
| Jay Ltd | ||
| 7 | D | Cash flow from investing - 22,000 |
| 8 | A | Cash & Cash equivalent - 192,500 |
| 9 | C | Equity Share CApital after reconstruction 5,50,000 |
| 10 | B | Cash flow from Operating - 5,000 |
| 11 | B | FA Held for sale Current Asset |
| Mr. Vikram | ||
| 12 | C | 3,05,000 |
| 13 | A | 12,500 to be capitalised and 27,500 to be expensed |
| 14 | D | Carrying amount of investment is Rs. 82,000 |
| 15 | B | RM - Rs. 50,000 and FG Rs. 3,00,000 |
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