CA Final | MCQ Answers - Nov 24 :



Each question in case scenarios bifurcated & Chapter names also mentioned.

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📍FR :


📍AFM :


📍Audit :


📍DT :


📍IDT :


📍IBS :



All Subjects Chapterwise weightage - Trend Analysis (Included New Course also)


(Must Refer)

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Kudos to every student out there who didn't give up and studied day & night!

Irrespective of results, give yourself a pat on the back for all your hard work & dedication.

Now is the time to take a well deserved break & enjoy.

Use your energy to explore new hobbies, work on developing your skills, or if pending with any group, start preparation after week.

I have tried my best to provide every possible free resource that can help in your exam preparation, such as Notes, important topics, Strategy, Guidance and more.

Further also many more excellent resources & content will be uploaded, so stay connected!!

You can also connect with me on Instagram :


Thank You all ❤️

I know some of you might not be confident about your answers,

But don't worry if you have attempted them at your best.

Champions look forward to what's coming, not what's gone!!

Take some rest or complete some easy chapter of IDT

This is the subject to maximize the group 2 aggregate.

I have also secured 73 marks in IDT.

Already uploaded video for IDT Important topics & My 73 Marks Scoring Strategy.

Finding it difficult to complete DT ?

First, avoid studying every chapter in too much detail now.

It should not happen that you leave a easy & scoring chapter.

You have to understand from which particular question you will score maximum marks.

Like, Q.3a comes from Charitable Trust/Exit Tax - 8 Marks
Q.4a from TDS TCS - 8 Marks.

Identify your strengths, then focus on scoring well in those areas.

Don’t Panic, 100% in DT is tough for everyone.

Cover as many chapters as possible, especially the key topics I've shared here.


In video i have given question wise pattern analysis - Strictly follow it..

You still have good time left! Rukna nahi hai 🏆

Some Common Keywords to be used in Audit Paper 

👨🏻‍🎓

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- Limitation on scope of audit due to circumstances
- Inquiry of management and TCWG
- Internal control system
- Consider impact on audit opinion as per SA 705
- Alternate audit procedures
- Sufficient and appropriate audit evidence
- Compliance with laws and regulations
- Material misstatement
- Existence and completeness
- Independence, integrity, and objectivity of auditor
- Operating effectiveness of controls
- Auditor's responses to the assessed risks
- Assertions regarding transactions, balances, and disclosure
- Substantive procedures/test of details
- Compliance procedures/test of controls to be used while answering on further audit procedures
- Nature, timing, and extent of audit procedures
- Re-evaluate reliability and integrity of management
- Discuss the matter with those charged with governance
- Going concern considerations
- Analytical review procedures for financial statements and in relation to material transactions

Must Read - When to use such keywords






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Taking Time in Completing Chapters?

I know it happens in audit.

See, now you can't remember everything line by line.

Try to get conceptual understanding & remember only the main keyword points.

Don't waste too much time on any one chapter.

Speed up!

Strictly follow the strategy & cover all Scoring Topics told in the video in the same sequence.


You're almost there.

A little more effort, and you are going to Rock!! ❤️

68 Marks AFM Paper Questions were asked from Important List provided

Here i have covered only those question which were same from Limited imp given - other questions were also manageable if you have covered all imp bcz it was of similar concept only.

Check that Important Questions List


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📍Q.1b - Derivative (4 mark) - Illustration 5

📍Q.1c - Financial Policy & Corporate Strategy (4 mark) - Q.2 in Theory booklet

📍Q.2a - Mutual Funds  (6 mark) - TYK 14

📍Q.3a -  IRRM (6 mark) - TYK 1

📍Q.3b - FOREX  (8 mark) - TYK 51

📍Q.4a - Derivative  (6 mark) - Similar to TYK 13

📍Q.4b - Business Valuation (4 mark) - TYK 10

📍Q.4c - IRRM (4 mark) - TYK 5

📍Q.4c Startup Finance (4 mark) - Q.4 in Theory booklet

📍Q.5a -  International Financial Mgt (6 mark) - TYK 1

📍Q.5b - Security Valuation   (4 mark) - TYK 18

📍Q.6b - Forex  (6 mark) - TYK 50

📍Merger Case Scenario (6 Mark) - TYK 5

Other MCQ Case Scenarios were also from imp & study material but it was drafted differently.

Note - I haven't given 300-400 imp questions. Very limited number of questions were given as highly important from each chapter.

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56 Marks FR Questions were asked from Important List provided

Very limited number of questions given in list & then also exact same questions came 😍

Check that Important Questions List


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📍 Q.1 - Ind As 110 (14 Mark) - drafted from TYK 5

📍 Q.3a - Ind As 40 (8 Mark) - TYK 8

📍 Q.4a - Ind As 16 (6 Mark) - Similar to Illustration 13

📍 Q.4b - Ind As 102 (8 Mark) - Similar to Illustration 10 & TYK 8

📍 Q.5a - Ind As 115 (5 Mark) - RTP May 19 - Q.4

📍 Q.5c - Ind As 1 (4 Mark) - TYK 9

📍 Q.6b - Ind As 16 (5 Mark) - TYK 9

MCQs Case Study - Tara Ltd. (6 Mark)
Below Same Questions were asked
IND AS 37 - TYK 1
IND AS 115 - Illustration 65
IND AS 108 - TYK 4


Remaining question concepts were also covered in Imp, but only questions with the exact same wording are listed here.

Note - I haven't given 300-400 imp questions. Very limited number of questions were given as highly important from each chapter.

Download AFM All Resources





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IDT subject can make your group 2 aggregate,

Don't give excessive time on low weightage chapters like FTP, it carry only 2-4 mark

Instead, focus first on other topics that are scoring & require less effort.

Strictly Follow Most Scoring Strategy & Prioritise Imp Topics told in the video.

Summary of IND AS 115 – Revenue from Contracts with Customers

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FR Important Questions List for Nov 24


1. If the variable consideration is constraint then don’t include in transaction price. If the Variable consideration is not constraint (That is there Is High probability that significant reversal will not Occur) then we will include it in the transaction price.

2. The consideration for the goods which will be returned will not be recognised.

3. Discount rate to be taken In case of significant financing component

- The rate that would be applied if a separate financing transaction was done (INCREMENTAL BORROWING RATE)
- If not available then IRR.

4. Non cash consideration (that is in case of barter) Lacks commercial substance - NO REVENUE RECOGNITION

Has commercial substance-

- FAIR VALUE of consideration received
- If not available then STANDALONE SELLING PRICE OF ASSET GIVEN UP

5. Subsequent changes in the fair value of the non cash consideration due to change in its form cannot be adjusted to its transaction price

6. In case of sale and repurchase revenue should not be recognised

- If repurchase price > selling price : Loan (Since we are paying back more it will be considered as paying back the loan along with the interest )

- If repurchase price < selling price : Lease (Since we are paying back less we will assume that we have given it for lease so we are deducting lease rent and only balance security deposit we are giving back)

7. In case of discount voucher or points we need to credit LIABILITY ON CUSTOMER LOYALTY PROGRAM account and transfer to revenue only when it is redeemed or when the voucher has expired.

8. In case of contract acquisition cost - recognise as an asset and amortise over the period of the contract (including renewal period)

9. In Case of contract fulfilment cost

- If covered under other Ind as - as per other Ind as
- If not covered-recognise as an asset and amortise over the period of the contract (including renewal period)

10. Service concession (Eg toll road)

- If unconditional right to receive cash-Financial assets
- Right to operate or collect toll-Intangible asset



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CA Final || FR Most Important Questions for Nov 24 :

A Google Drive link of past papers mentioned in list is provided on last page of PDF.



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FR Chapterwise Marks - Trend Analysis

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