CA Final Paper 3

ICAI MCQ Booklet

9 Questions from ICAI MCQ Booklet

Questions

9

Est. Time

18 min

Source

ICAI Booklet

Sample Questions: ICAI MCQ Booklet

Preview 3 of 9 questions from ICAI MCQ Booklet

1. M/s JKL & Associates, Chartered Accountants were acting as the statutory auditors of M/s IBS Bank Limited. Interest income included: (1) Rs. 5 lakh relating to a short-term crop loan where instalment ...

A) Nil
B) Rs. 8.5 lakh
C) Rs. 5 lakh ✓
D) Rs. 3.5 lakh

Topic: Bank Audit - NPA Classification

2. What could be the possible amount classified as NPA relating to the accounts with respect to observation regarding the inclusion of interest income given below: - Rs. 5 lakh relating to a short-term c...

A) Rs. 12 lakh
B) Rs. 8.5 lakh
C) Rs. 7 lakh
D) Rs. 3.5 lakh ✓

Topic: Bank Audit - NPA Classification

3. A 25 month old NPA account worth Rs. 43 lakh (net book value) was sold to an asset reconstruction company for Rs. 45 lakh. The profit from the above transaction was taken to the P&L account. The NPA w...

A) The NPA had not completed 30 months
B) Sale was made 'without recourse'
C) Sale was made for cash basis
D) The profit of Rs. 2 lakh was taken to P&L account ✓

Topic: Bank Audit - NPA Sale

About CA Final Auditing MCQs

These 9 MCQs cover essential topics in CA Final Advanced Auditing & Professional Ethics including Bank Audit NPA classification, professional misconduct penalties, going concern audit opinions, and forensic audit skills. The questions test practical application of audit standards (SAs) and ICAI Code of Ethics.

All questions are from the official ICAI MCQ Booklet. The CA Final exam includes 30 marks of case-based MCQs in Auditing. Practicing these helps you understand ICAI's question patterns and improve speed for the objective section.

Source: ICAI Board of Studies – MCQ Booklet for Advanced Auditing & Professional Ethics