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CA Foundation — free MCQ practice

Choose from 4,755 questions across 13 subjects and 136 topics. Open any question for its answer and worked solution, or keep learning through bite-sized lessons and reviews with Quill.

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CA Foundation subjects

Quantitative Aptitude (1,234)Businesslaw (1,176)Accounting (1,006)Business Economics (867)Economics (219)Accountancy (110)Mathematics (65)General Knowledge (28)Business Studies (26)Business Laws (20)Statistics (2)Physics (1)Reasoning (1)

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EconomicsPartnershipPartnership AccountsAccounting ConceptsCompany AccountsBills of Exchange and Promissory NotesQuantitative MethodsTime Value of MoneyNegotiable Instruments Act 1881Nature of ContractsCorrelation and RegressionDepreciation and AmortisationAgencyPrice-Output Determination under Different Market FormsFinal Accounts of Sole ProprietorsInventoriesPublic FinanceRatio and Proportion, Indices and LogarithmsSets, Relations and FunctionsContract of Indemnity and GuaranteeThe Limited Liability Partnership Act 2008Breach of Contract and its RemediesPerformance of ContractMeasures of Central Tendency and DispersionStatistical Representation of Data and SamplingCompanies Act 2013Sequence and SeriesBailment and PledgeNumber Series, Coding and DecodingBank Reconciliation Statement

Try a CA Foundation question

The accounting equation isRead the answer and worked solution →According to the modern rules, an increase in an asset is recorded as aRead the answer and worked solution →Which of these is a real account?Read the answer and worked solution →A machine costing ₹1,00,000 with ₹10,000 salvage and 9-year life: annual depreciation under the straight-line method isRead the answer and worked solution →

Worked practice questions

The accounting equation is

  1. Assets = Capital − Liabilities
  2. Capital = Assets + Liabilities
  3. Assets = Liabilities + Capital
  4. Assets = Liabilities − Capital
Show answer and solution

Correct answer: C. Assets = Liabilities + Capital

The fundamental accounting equation: Assets = Liabilities + Capital (Owner's Equity).

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According to the modern rules, an increase in an asset is recorded as a

  1. contra entry
  2. suspense entry
  3. credit
  4. debit
Show answer and solution

Correct answer: D. debit

Under modern rules, assets increase on the debit side ('debit what comes in / increase in asset').

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Which of these is a real account?

  1. Salary A/c
  2. Capital A/c
  3. Rent A/c
  4. Machinery A/c
Show answer and solution

Correct answer: D. Machinery A/c

Real accounts relate to assets (Machinery). Salary/Rent are nominal; Capital is personal.

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How to practise

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