PDF · Test series
CA Inter Advanced Accounting Test: AS 2, AS 10 and AS 13 Questions
- Shared by
- Kavyansh
- Course
- CA Inter
- Subject
- Advanced Accounting
- Added
- 4 Nov 2026
Part of: CA InterAdv Accounting
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This is a chapter test for CA Inter Advanced Accounting covering three accounting standards: AS 2 on valuation of inventories, AS 10 on property, plant and equipment, and AS 13 on accounting for investments. The questions are practical and ask students to calculate amounts and explain the treatment in the books. It suits students who want to practise application-based questions from this part of the syllabus and check how well they handle normal and abnormal loss, depreciation on land and building, and reclassification of investments.
What the test covers
The first question deals with normal and abnormal wastage in raw material under AS 2, where students calculate the abnormal loss from a 5 per cent normal wastage norm and explain how each type of loss is treated. The second question checks the correct accounting for land cost included in a building account and depreciation charged on it, which relates to AS 10. The third and fourth questions focus on AS 13, covering the carrying value of shares, gold and silver, and the transfer of investments between long term and current categories with their market and fair values.
How to use it for revision
Attempt the paper within the given time of about 40 minutes, keeping 15 minutes for reading the questions. Work out the numerical parts first, such as the abnormal loss quantity and the amounts to be transferred on reclassification, and then write the explanations in standard accounting language. Compare your answers with the standard provisions of each accounting standard, paying attention to how the lower of cost and market value rule applies to each category of investment.
Who should read it
This test is useful for CA Inter students preparing Advanced Accounting who are working through chapters on inventories, fixed assets and investments. It is also helpful for students who need a quick self-check before moving on to combined application questions that mix several accounting standards in one paper.
Key topics in these notes
- Normal and abnormal loss under AS 2
- Valuation of inventories and wastage
- Land cost and depreciation under AS 10
- Accounting for investments under AS 13
- Carrying amount of shares gold and silver
- Reclassification of long term and current investments
- Market value and fair value of investments
Related notes
- CA Inter Advanced Accounting – Model Test Paper Analysis (MTP 1–8)
- AS 2 Valuation of Inventories
- TEST 3 Questions of AS 24,AS 25
- ca inter advanced accounting jan 2026 exam question paper by icai 1767702846
- Finance and Accounting Basics Interview Questions and Answers Sonu Thomas
- TEST 2 Questions of AS 18,AS 20
- Questions of TEST 1 AS 1,3,17
- ca inter advance accounting question bank by ca aakash kandoi 1769758673
Frequently asked questions
What accounting standards does this test cover?
The test covers AS 2 on inventories, AS 10 on fixed assets and AS 13 on accounting for investments.
How is abnormal loss treated in this test?
The test asks students to calculate the abnormal loss beyond the normal wastage of 5 per cent and explain its treatment under AS 2.
Does the test include reclassification of investments?
Yes, question 4 asks students to decide and state the amount of transfer when long term investments become current and current investments become long term under AS 13.
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