CA Intermediate Exam: Concise Overview and Some Key Questions for All Subjects

1. According to the provisions of the Indian Contract Act, of 1872, do you think the tailor has a right of lien over the cloth?

(a) Yes, he is entitled to retain the coat until he is paid. (b) No, he has not completed the work within the agreed time (c) Yes, in case of particular lien he can retain the cloth. (d) No, but he is not required to return the advance amount.

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2. A Private Company cannot issue securities.

(a) By way of rights issue (b) By way of bonus issue (c) By way of private placement (d) By issue of Prospectus in Public

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3. The concept of materiality is applied by the auditor.

(a) in planning and performing the audit (b) in evaluating the effect of identified misstatements on the audit (c) both in planning and performing the audit, and in evaluating the effect of identified misstatements on the audit (d) none of the above is correct

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4. The term “Drawing Power” is associated with which of the following facilities as sanctioned by any Bank.

(a) Letter of Credit (b) Term Loan (c) Staff Advances (d) Cash Credit Limit

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5. Big Billion Days sale by Flipkart is an example of which type of strategic marketing technique?

(a) Synchro Marketing (b) Concentrated Marketing (c) Demarketing (d) Enlightened Marketing

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6. The business news anchor said that “chillflix’s dead business is worth more than alive”. What did she hint at?

(a) Restructuring Business (b) Liquidation (c) Business Process Re-engineering (d) Divestment

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7. Dogs in BCG Matrix can be minimized through?

(a) Converting to Cash Cows (b) Liquidating or Divesting (c) Foreign Direct Investment Opportunity (d) Bad Debt Writing off

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8. Kanchan is the finance head for marketing strategies of a company. Which level of management is she working at?

(a) Corporate Level (b) Functional Level (c) Shopfloor Level (d) Consultant Level

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9. A bill of exchange is due on 2nd January 2023. How many days of grace shall be provided to this bill of exchange due at maturity.

(a) 1 day (b) 2 days (c) 3 days (d) 5 days

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10. Free gifts of value of 50,000 provided by Sarabhai Associates to each of its employee is

(a) considered as supply of goods (b) considered as supply of services (c) exempt from GST (d) not a supply as per Schedule I of the CGST Act, 2017

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Answer Key 1. Ans. B 2. Ans. D 3. Ans. C 4. Ans. D 5. Ans. A 6. Ans. B 7. Ans. B 8. Ans. B 9. Ans. C 10. Ans. D

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