Free Practice Questions for CMA Inter Paper 6
Exam-style questions and explanations by OpenExamPrep.
Loading practice questions...
Explore More ICMAI Cost and Management Accountancy (India)
Continue into nearby exams from the same family. Each card keeps practice questions, study guides, flashcards, videos, and articles in one place.
Key Facts: CMA Inter Paper 6 Exam
100 marks
Paper 6 Total Marks
ICMAI 2022 Syllabus
3 hours
Exam Duration
ICMAI 2022 Syllabus
Group I
Paper Group
ICMAI Intermediate Course
40% / 50%
Paper and Group Pass Marks
ICMAI Passing Criteria
20%
Accounting Standards Weight
ICMAI 2022 Syllabus
100 MCQs
Free Practice Questions
OpenExamPrep
CMA Inter Paper 6 Financial Accounting is a 100-mark, 3-hour descriptive written paper in Group I of the ICMAI 2022 syllabus. Official sections and marks weightings are Accounting Fundamentals 15%, Accounting for Special Transactions 10%, Preparation of Financial Statements 20%, Partnership Accounts 20%, Branch/Departmental plus Lease, Hire Purchase and Insurance Claims, and Accounting Standards 20%. Although the real exam is descriptive, ICMAI publishes an official MCQ Question Bank, so this free bank delivers 100 MCQs as knowledge prep. The pass standard is 40% in the paper and 50% aggregate in the group.
Sample CMA Inter Paper 6 Practice Questions
Try these sample questions to review concepts for the CMA Inter Paper 6 exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.
1Under the dual aspect concept of accounting, every business transaction affects:
2The going concern assumption justifies which of the following accounting practices?
3A company recognises revenue only when goods are delivered, even though the order and advance were received earlier. Which concept does this follow?
4Which of the following is a real account under the traditional classification of accounts?
5The convention of conservatism in accounting is best reflected by:
6Outstanding salary appearing in the trial balance is treated in final accounts as:
7A trial balance shows total debits of Rs 5,00,000 and total credits of Rs 5,00,000. This confirms:
8Goods costing Rs 10,000 were taken by the proprietor for personal use. The correct journal entry is:
9Which financial statement is prepared by a not-for-profit organisation in place of a profit and loss account?
10In a Receipts and Payments Account of a club, the opening and closing balances represent:
About the CMA Inter Paper 6 Exam
CMA Intermediate Paper 6 (Financial Accounting) is a Group I paper under the ICMAI 2022 syllabus testing accounting fundamentals, Accounting Standards, special transactions, financial statement preparation, partnership accounts, company accounts, branch and departmental accounts, and lease, hire purchase and insurance claims.
Exam sponsor: The Institute of Cost Accountants of India (ICMAI). The requirements and fees below concern the certification or admission exam, separate from our free practice resources.
Assessment
Question count not published by the exam provider
Time Limit
3 hours
Passing Score
40% in the paper and 50% aggregate in the group
Exam / Certification Fees
Included in the ICMAI CMA Intermediate registration and term examination fees; no separate per-paper fee
Exam sponsor websiteReported exam pass rate: Not published per paper. ICMAI does not publish a Paper 6 specific pass rate; only term-wise CMA Intermediate group results are released. Exam sponsor website
Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.
Our practice resources: topics covered
We aim to reflect publicly available exam outlines and topic information in our study resources. Coverage, format, and difficulty may differ from the actual exam, and we cannot guarantee that every detail is accurate or current. Confirm exam requirements, fees, and policies with the official exam sponsor.
Accounting Fundamentals
Accounting concepts, conventions, GAAP, capital and revenue items, depreciation methods, rectification of errors, bank reconciliation, and trial balance preparation.
Accounting for Special Transactions
Bills of exchange, accommodation bills, consignment accounting with normal and abnormal loss, and joint venture accounting with and without separate books.
Preparation of Financial Statements
Final accounts of commercial entities, not-for-profit organisations, and accounts from incomplete records under the single entry system.
Partnership Accounts
Admission, retirement, death, goodwill, revaluation, profit-sharing ratios, dissolution, and the Garner v. Murray rule on partner insolvency.
Company Accounts (Shares and Debentures)
Issue, forfeiture and re-issue of shares, securities premium, pro-rata allotment, and issue of debentures including collateral security and loss on issue.
Branch and Departmental Accounts
Dependent and independent branches, debtors and stock-and-debtors systems, foreign branch conversion, and departmental apportionment with inter-department transfers.
Lease, Hire Purchase and Insurance Claims
AS 19 lease classification, hire purchase interest and repossession, and insurance claims for loss of stock and loss of profit under the average clause.
Preparing for the CMA Inter Paper 6 Exam
What You Need to Know
- Passing score: 40% in the paper and 50% aggregate in the group
- Assessment: Question count not published by the exam provider
- Time limit: 3 hours
- Exam / certification fees: Included in the ICMAI CMA Intermediate registration and term examination fees; no separate per-paper fee Official sources
Using Our Practice Resources
- Work through all 100 available questions
- Review every answer and explanation
- Track weak areas and revisit them
- Use our AI tutor for tough concepts
CMA Inter Paper 6: Suggested Study Strategy
Frequently Asked Questions
Is CMA Inter Paper 6 a multiple-choice exam?
No. ICMAI Paper 6 Financial Accounting is a 100-mark descriptive written paper requiring full working notes. ICMAI, however, publishes an official MCQ Question Bank, so MCQ practice is a useful and recognised way to build conceptual accuracy and speed.
What is the marks weightage of CMA Inter Paper 6?
Under the ICMAI 2022 syllabus, the broad weightings are Accounting Fundamentals 15%, Special Transactions 10%, Preparation of Financial Statements 20%, Partnership Accounts 20%, Accounting Standards 20%, and the Lease, Branch and Departmental Accounts group 15%.
How much time is given for CMA Inter Paper 6?
Candidates get 3 hours to attempt the 100-mark Paper 6 Financial Accounting examination conducted offline at ICMAI centres.
What is the passing criteria for CMA Inter Paper 6?
A candidate must score a minimum of 40% in the individual paper and 50% in aggregate across the group to pass under ICMAI rules, with exemptions granted for papers scoring 60% or more.
Which Accounting Standards are important for Paper 6?
Frequently tested standards include AS 1, AS 2, AS 3, AS 4, AS 5, AS 9, AS 10, AS 11, AS 12, AS 13, AS 16, AS 19, and AS 26, covering policies, inventories, cash flows, revenue, fixed assets, and leases.
Is Paper 6 in Group I or Group II of CMA Inter?
Financial Accounting is Paper 6 and falls under Group I of the CMA Intermediate course in the ICMAI 2022 syllabus.
Are company accounts (shares and debentures) covered in Paper 6?
Yes. Paper 6 covers the basics of company accounts including issue, forfeiture and re-issue of shares and the issue of debentures, while more advanced corporate accounting appears in later CMA papers.
How should I prepare for the computational parts of Paper 6?
Practise partnership, consignment, branch, hire purchase, and insurance-claim sums with full working notes, then test recall with MCQs to verify conceptual accuracy before timed mock papers.