CA Final Financial Reporting MTP May 2025: Question Paper and Solutions

How to Prepare for CA Final Financial Reporting

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Question directory and available solutions

35 indexed questions. Open a question to read its full statement and available answer.

1. M Ltd. is engaged in production and agricultural activities. It also runs a chain of gyms. M Ltd. prepares its financial statements following Indian…
2. P Ltd. is a multi-national company and prepares and presents its financial statements following Indian Accounting Standards as its securities are…
3. ABC Ltd. acquires XYZ Ltd. in a business combination on 15th January, 20X1. Few days before the date of acquisition, one of XYZ Ltd.'s customers had…
4. Mercury Ltd. has sold goods to Mars Ltd. at a consideration of 10 lakhs, the receipt of which receivable in three equal installments of 3,33,333…
5. _______ and _______ are technologies that enable computers to learn and perform tasks without being explicitly programmed to do so. They are having…
6. A Ltd. and B Ltd. are companies registered under the Companies Act, 2013. A Ltd. is an Ind AS compliant entity and follows year ended March as its…
7. ABC Ltd. issues 4% 1,00,000 OCPS at a face value of 100 per share on 1st April, 20X1 and these are redeemable after 5 years, ie, on 31st March,…
8. ABC Inc., incorporated in a foreign country has a net worth of 700 crores. It has two Indian subsidiaries X Ltd. whose net worth as on 31st March…
9. X Ltd. has taken a plant on lease from Y Ltd. for 5 years to use in its manufacturing process for which it has to pay annual rentals in arrears of…
10. Infotech Global Ltd. has a functional currency of USD and needs to translate its financial statements into the functional and presentation currency…
11. To reward its employees, the Company had launched a scheme effective 1st April, 20X1, in which the employees will be granted equity shares of the…
12. On 1st April, 20X1, A Ltd. contracted for the construction of a building for 22,00,000. The land under the building is regarded as a separate asset…
13. A Ltd. is a company which is in the business of manufacturing engineering machines and providing after sales services. The company entered into a…
14. Either A post-employment medical plan reimburses 10 percent of an employee's post-employment medical costs if the employee leaves after more than…
15. Sunshine Ltd., a listed company in the cosmetics industry, has debt covenants attached to some of its borrowings which are included in Financial…
16. Mathur India Private Limited has to present its first financials under Ind AS for the year ended 31st March, 20X3. The transition date is 1st April,…
17. ABC Ltd. acquired 5% equity shares of XYZ Ltd. for 10 crores in the year 20X1-20X2. The company is in process of preparing the financial statements…
18. A Ltd. is engaged in multi production/construction and service activities. A Ltd. prepares its financial statements following Indian Accounting…
19. X Ltd. is engaged in the construction industry and prepares its financial statements up to 31st March each year. (i) On 1st April, 20X1, X Ltd.…
20. G Ltd. is currently engaged in different business segments and is also looking to expand its operations overseas. G Ltd. is also exploring…
21. X Ltd. is a first-time adopter of Ind AS. The date of transition is 1st April, 20X1. It has given 200 stock options to its employees. Out of these,…
22. A Chartered Accountant might face a situation in which complying with one fundamental principle conflicts with complying with one or more other…
23. The balance sheet of Professional Ltd. and Dynamic Ltd. as of 31st March, 20X2 is given below: Assets in lakhs Professional Ltd. Dynamic Ltd.…
24. Company A, an Indian company whose functional currency is ₹, enters into a contract to purchase machinery from an unrelated local supplier, company…
25. Sports Team D enters into a three-year agreement to license its team name and logo to Apparel Maker M. The licence permits M to use the team name…
26. Following is the balance sheet of Kuber Limited for the year ended 31 March, 20X2 20 X2 20 X1 ASSETS Non-current assets Property, plant and…
27. Heaven Ltd. had purchased a machinery on 1.4.2X01 for 30,00,000, which is reflected in its books at written down value of 17,50,000 on 1.4.2X06. The…
28. On 1st April 20X1, S Ltd. leased a machine over a 5 year period. The present value of lease liability is 120Cr (discount rate of 8%) and is…
29. Following is the data for company XYZ in respect of number of equity shares during the financial year 20X1-20X2. Find out the number of shares for…
30. X Solar Power Ltd., a power company, has a present obligation to dismantle its plant after 35 years of useful life. X Solar Power Ltd. cannot cancel…
31. Marine Transport Limited ordered 3 ships for its fleet on 1st April, 20X0. It pays a down payment of 25% of the contract value of each of the ship…
32. One of the senior engineers at XYZ has been working on a process to improve manufacturing efficiency and, consequently, reduce manufacturing costs.…
33. The company has made sales of 60,00,000 to a customer SS LLP on 31st December 20X2. The normal credit is for one month. However, sometimes, it goes…
34. An entity provides broadband services to its customers along with voice call service. Customer buys modem from the entity. However, customer can…
35. On 5th April, 20X2, fire damaged a consignment of inventory at one of the Jupiter's Ltd.'s warehouse. This inventory had been manufactured prior to…