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Old January 2nd, 2014, 01:16 PM
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Join Date: Nov 2011
Default CPT Entrance Exam Question Paper

I am going to participate in Common Proficiency Test so need previous question paper, will you please provide here?

Below I am providing you some questions of from question paper of CPT Entrance Exam and attaching a PDF attachment which has detail information regarding this that you can down load for free:

Part A - Economics
1. Allocation of resources is the subject matter
of _____
a) Micro economics b) Macro economics
c) Development economics
d) Welfare economics
2. Micro Economics is connected with ____
a) Consumer’s Behaviour b) Product pricing
c) Factor pricing d) all of these
3. Fixed costs are also called ____
a) direct costs b) prime costs
c) supplementary costs d) opportunity costs
4. Direct costs are also known as ____
a) traceable costs b) indirect costs
c) opportunity costs d) none of these
5. OPEC is an example for
a) monopoly
b) monopolistic competition
c) perfect competition d) oligopoly
6. The firms AFC is Rs.200 for 10 units. What
will be the average fixed costs at 20 units?
a) 500 b) 100 c) 150 d) 300
7. Long run price is also known as ____
a) administered price b) market price
c) normal price d) none
8. Toothpaste industry is an example for ____
a) monopoly b) monopolistic competition
c) oligopoly d) perfect competition
9. AR & MR are same in ____ market
a) oligopoly b) monopoly
c) perfect competition d) none
10. In monopoly when price elasticity is 1, then
the MR is___
a) 1 b) 0 c) negative d) positive
11. Amount paid to the outside factors of
production are known as ___
a) implicit costs b) explicit costs
c) traceable costs d) opportunity costs
12. An increase in demand with unchanged
supply leads to ____
a) rise in price b) fall in price
c) no change in price
d) an increase in supply
13. When supply curve takes a rightward shift,
then supply ____
a) decreases b) contracts
c) expands d) increases
14. When the income increases, then demand
decreases for ____
a) veblen goods b) conspicuous goods
c) normal goods d) inferior goods
15. Which of the following are not true?
a) Wants are limited
b) resources are scarce
c) resources have alternative uses
d) both (b) & (c)
16. Average revenue curve is also known as ___
a) profit curve b) demand curve
c) supply curve d) none of these
17. Which of the following statements is in
correct?
a) Competitive firms are price takers and not
price makers
b) Price discrimination is possible in
monopoly only
c) Duopoly may lead to monopoly
d) Competitive firms always try to
discriminate prices
18. Find AFC of 2 units by using the table given
below:
Output 0 1 2
TC 580 690 850
a) 105 b) 135 c) 290 d) 161
19. If the total utility of a commodity is 5 and
marginal utility is 1, a person consumes 3
units. What is consumer’s surplus?
a) 6 b) 8 c) 2 d) 3
20. The first stage of law of variable proportions
is known as _____
a) increasing returns b) diminishing returns
c) constant returns d) none
21. Primary sector includes ____
a) Transport and shipping
b) banking and financial institutions
c) mining and quarrying d) insurance
22. The IRDP was started in ____ plan
a) 5th b) 6th c) 7th d) 8th
23. Which is the regulatory authority of telecom
in India
a) BSNL b) MTNL c) SEBI d) TRAI
24. GNP = ____ + NFIA
a) NNP FC b) NNP MP
c) GDP d) National Income
25. National Income is measured by _____
a) Ministry of finance b) CSO
c) RBI d) SBI
26. The difference between narrow money and
broad money is _____
a) Time deposits b) Saving deposits
c) Post office saving deposits
d) none of these
27. Which of the following related to financial
reforms _____
a) Banking b) Insurance
c) Capital d) All of these
28. The main reason behind the implementation
of economic reforms in the year 1991 is ____
a) Indication from world bank
b) Failure of economic policies of present
government
c) low foreign exchange reserves
d) none of these
29. National Bank for agriculture and rural
development (NABARD) is _____
a) a commercial bank
b) a co-operative bank
c) an apex bank set up for rural & agriculture
credit d) a subsidiary of SBI
30. In India, most of the unemployment is _____
a) Disguised b) Open
c) Cyclical d) Urban
31. Personal disposable income is _______
a) Personal Income – net indirect taxes
b) Personal Income – Indirect taxes
c) Personal Income – personal taxes
d) none of these
32. Fiscal policy refers to ____
a) Public debt b) public revenue
c) public expenditure d) all of the above
33. The systematic record of all receipts and
payments of international trade is known as _
a) Balance of Trade
b) Balance of Payment
c) Balance of current account
d) Balance of capital account.
34. 1921 is termed as ____ in the history of
Indian population
a) beginning census b) big divide
c) beginning registration system
d) beginning of family planning
35. Trade disputes in international trade are
settled by ____
a) WTO b) ILO c) IBRD d) UNO
36. The static function of money is____
a) store of value b) medium of exchange
c) standard of differed payments
d) all of these
37. The apex bank for industrial finance in India
is ____
a) IDBI b) RBI
c) SBI d) Ministry of Finance
38. The main cause for unemployment in India is
____
a) raising prices
b) increase in public expenditure
c) defective mandatory policy
d) unproper utilization of resources
39. Devaluation of currency stands for _____
a) increase in the value of domestic currency
in terms of foreign currency
b) decrease in the value of domestic
currency in terms of foreign currency
c) keeping value of domestic currency as
constant in terms of foreign currency
d) none of these
40. Purchasing power of a consumer is low when
rise in the general price level is a situation
relates to ____
a) inflation b) deflation
c) stagflation d) none
41. Measurement of value of goods and services
is ____ function of money
a) medium of exchange b) unit of account
c) standard of differed payments
d) store of value
42. Important problem in calculating GNI is ____
a) double counting b) smuggling
c) black marketing d) unorganized market
Attached Files Available for Download
File Type: pdf CPT Entrance Exam Question Paper-.pdf (240.5 KB, 44 views)

Last edited by Aakashd; February 28th, 2020 at 12:53 PM.
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  #2  
Old January 2nd, 2014, 03:46 PM
Super Moderator
 
Join Date: Jun 2013
Default Re: CPT Entrance Exam Question Paper

The CPT is an entry level test for Chartered Accountancy Course.

The Common Proficiency Test will be an objective types multiple choice based examination.

You need the Common Proficiency Test question paper, here i am giving solved paper:

1. Which of the following should be valued
compulsory at the time of admission of a
partner______
a) Goodwill b) Plant & machinery
c) Land & Buildings d) Furniture & fillings

2. Which Accounts are used to prepare Bank
Reconciliation statement?
a) Cash column & Bank statement
b) Bank column & Bank Statement
c) Cash column & Bank Balance
d) None of the above

3. The opening stock is overstated by Rs.10,000
and closing stock is understated by Rs.15,000.
The impact on the net profit of the current
year is
a) Rs.5,000 overstated
b) Rs.25,000 overstated
c) Rs. 5,000 understated
d) Rs.25,000 understated

4. If nothing is given in the financial statements
about the three accounting assumptions then
it is to be treated as it
a) Is assumed that it is not followed
b) Is assumed to be followed
c) Is assumed to be followed to some extent
d) None of the above

5. A & B have started a Joint Venture for
purchase & Sale of garments. Initial capital
contribution was Rs.25,000 & Rs.50,000. There is no written agreement about share of P & L among them. They purchased garments worth Rs.50,000 & sold for Rs.75,000, the profit to be
shared among them is
a) Rs.8,333 & Rs.16,667
b) Rs.10,000 & Rs.15,000
c) Rs.12,500 & Rs.12,500
d) Rs.20,000 & Rs.5,000

6. Preference shares can be redeemed, unless
they are
a) Partly paid b) Fully paid
c) Transferred d) Re-Issued

7. On 1st April, Mr.A sold goods of Rs.10,000 to B
and drew a bill for 3 months. Mr. A discounted
the bill with bank at 15%. Amount of discount
will be?
a) Rs. 125 b) Rs.250 c) Rs.375 d) None

8. Underwriting commission will not be paid on
shares taken by
a) Promoters b) Employees
c) Directors d) All of these

9. Renewal fee of patents is a ____ expenditure.
a) Capital b) Revenue
c) Differed revenue d) Development

for detailed paper here is attachment:
Attached Files Available for Download
File Type: pdf CPT Solved Question paper.pdf (1.34 MB, 56 views)
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