PDF · Test Series
CA Inter Advanced Accounting Test: AS 1, AS 3 and AS 17 with Answers
- Shared by
- Kavyansh
- Course
- CA Inter
- Subject
- Advanced Accounting
- Added
- 1 Nov 2026
Part of: CA InterAdv Accounting
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This is a chapter test for CA Inter Advanced Accounting covering AS 1 (Disclosure of Accounting Policies), AS 3 (Cash Flow Statements) and AS 17 (Segment Reporting). It has three questions worth 20 marks in total. The first asks you to calculate net cash flow from operating activities from given particulars and working capital changes. The second is a true or false set on fundamental accounting assumptions and policy disclosure, with reasons. The third applies the 10 percent quantitative thresholds of AS 17 to decide which segments are reportable. Each question is followed by a worked answer, so the page suits students revising these standards for the exam.
What the test covers
The cash flow question walks through adjustments to retained earnings for depreciation, losses and profits on sale, dividends, tax provisions and changes in trade receivables, trade payables and outstanding expenses. The AS 1 question tests your understanding of fundamental assumptions such as going concern, consistency and accrual, and when a change in accounting policy must be disclosed. The AS 17 question shows the revenue, profitability and asset tests applied to six segments, with the conclusion on which segments qualify. Working through these gives practice on the layout of answers as well as the concepts.
How to use it for revision
Attempt the test within the given time, about 15 minutes for reading and 40 minutes for solving, and then compare your workings with the answers step by step. Pay particular attention to the sign conventions in the operating cash flow statement, where additions and deductions are easy to mix up. For AS 17, check each percentage against the threshold and note how a segment can be reportable under one test even if it fails the others. Revisiting the true or false reasons helps you write precise one-line justifications in the exam.
Who should read it
This page suits CA Inter students preparing Advanced Accounting who want practice on AS 1, AS 3 and AS 17 in a test format. It is useful for anyone who has studied the standards and needs to check application skills before a mock or the final paper. Students revising cash flow statements and segment reporting thresholds will find the worked steps particularly helpful.
Key topics in these notes
- Cash flow from operating activities
- Adjustments for depreciation and losses on sale
- Changes in working capital
- AS 1 fundamental accounting assumptions
- Disclosure of accounting policies
- AS 17 quantitative thresholds
- Reportable segments
- Revenue profit and asset tests
Related notes
Frequently asked questions
What standards does this CA Inter test cover?
The test covers AS 1 Disclosure of Accounting Policies, AS 3 Cash Flow Statements and AS 17 Segment Reporting.
How is operating cash flow calculated in this test?
The answer starts from retained earnings, adds back non-cash and non-operating items, then adjusts for changes in working capital and deducts tax paid.
Which segments are reportable under AS 17 in this question?
The answer concludes that all six segments, L, M, N, O, P and Q, are reportable, based on the revenue, profit and asset thresholds.
How many marks is the test worth and how long does it take?
The test is worth 20 marks, with 15 minutes reading time and 40 minutes solving time.
How can I get the full PDF?
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