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1. Which of the following can be used to pay the premium on redemption of redeemable preference shares?

Capital Redemption Reserve Account Existing Shares Premium Account Proceed of fresh issue of shares All of the above

2. Which of the following is not part of the Cash Flow Statement?

Cash payments to suppliers for goods and services Charging of Depreciation Cash advances and loans made to third parties Cash repayments of amounts borrowed

3. The Electricity Act, 2003 replaced which of the following three existing legislations?

The Indian Electricity Act, 1910 The Electricity (Supply) Act, 1948 The Electricity Regulatory Commissions Act, 1998 All of the above

4. Which of the following does not appear in the General Ledger of a Banking Company?

Control Accounts of all personal ledgers Assets Accounts Contra Accounts Balance Sheet

5. Which of the following is a fundamental principle of insurance?

Principle of indemnity Insurable interest Principle of uberrimae fidei All of the above

6. What is the underwriting commission payable on the shares taken up by the promoters?

2.5% 2% 5% Nil

7. If Debentures are issued as collateral security to Banks or Creditors, the Auditor needs to ensure that such issue is approved by:

Shareholders Board of Directors Debenture Trustee Audit Committee

8. As per SQC 1, Audit working papers should be retained for a period of:

2 years 5 years 7 years 10 years

9. The Current Audit files contain:

Articles of Association and Memorandum of Association Analysis of significant ratios and trends Notes regarding significant Accounting policies Audit Programme

10. The form for maintenance of Cost Records of a Company is:

CRA-1 CRA-2 CRA-3 CRA-4

11. Secretarial Audit is applicable to every Public Company having a turnover of:

₹ 100 crores ₹ 150 crores ₹ 250 crores ₹ 200 crores

12. The Statutory Auditor is appointed by the Shareholders in the:

General Meeting Statutory Meeting EGM Board Meeting

June 2018 CAA Paper

The Number of MCQs are limited as per ICMAI Past Paper in Syllabus 2016