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CA Foundation
Paper 1 : 

Principles and Practice of Accounting


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Practice before writing your exam

Series -1

Series -2

Mock Test Paper-1

Mock Test Paper-2

Question Paper -2021(dec)

 Question Paper -2021(july)

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Test your preparation


State with reasons whether the following statements are True or False:

(I)Prior Period Items need not be separately disclosed in the current statement of profit and loss.

(ii)Capital + Long Term Liabilities= Fixed Assets + Current Assets + Cash- Current Liabilities.

(iii) The sale value of the by-product is credited to Trading Account.

(iv) Discount at the time of retirement of a bill is a gain for the drawee.

(v)If a partner retires, then other partners have a gain in their profit sharing ratio.

(vi)Net income in case of persons practicing vocation is determined by preparing profit and loss account


Discuss the limitations which must be kept in mind while evaluating the Financial Statements

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