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An Overview and Some Essential Questions Across All Subjects CA Final Exam

1. The following inherent limitations in an audit affect the auditor’s ability to detect material misstatements except

(a) Test and sampling (b) Audit process permeated by judgment (c) Poor corporate governance (d) Audit evidence Checkout Last Page for Answer

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2. As per the Companies Act, 2013, every petition filed before the Tribunal shall be disposed of

(a) Within 1 month from the date the application is admitted (b) within 2 months from the date of the first hearing (c) within 3 months from the date of its presentation (d) within 6 months of its filing Checkout Last Page for Answer

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3. What is the penalty leviable u/s 270A as a consequence of assessment u/s 143(3), if the addition was not on account of misreporting?

(a) 52,500 (b) 54,600 (c) 1,09,200 (d) 2,18,400 Checkout Last Page for Answer

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4. What is the penalty leviable u/s 270A at the time of passing of the order u/s 147 considering that all additions are on account of misreporting of income?

(a) 7,48,800 (b) 5,20,000 (c) 1,87,200 (d) 3,74,400 Checkout Last Page for Answer

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5. Determine the value of outward supplies made by STAL which are exempt from GST.

(a) 35,00,000 (b) 15,00,000 (c) 16,00,000 (d) 5,50,000 Checkout Last Page for Answer

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6. Alcoholic liquor for human consumption is

(a) exempt from GST. (b) subject to both GST and central excise duty. (c) outside the realm of GST. (d) subject to GST only. Checkout Last Page for Answer

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7. Anti-dumping duty is calculated as follows

(a) Higher margin of dumping or injury margin (b) Lower margin of dumping or injury margin (c) Higher export price or normal value (d) Lower export price or normal value Checkout Last Page for Answer

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8. Trial of an offense under the Companies Act, by a special court shall be of such an offense

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(a) which is punishable with imprisonment for a term exceeding one year (b) which is punishable with imprisonment for a term not exceeding one year (c) which is punishable with imprisonment for a term exceeding three years (d) which is punishable with imprisonment for a term not exceeding three years Checkout Last Page for Answer

Answer key 1. Ans. C 2. Ans. C 3. Ans. B 4. Ans. A 5. Ans. A 6. Ans. C 7. Ans. B 8. Ans. D

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