CA Foundation suggested answers May 2026 PDF: all 4 papers
CA Foundation suggested answers May 2026 are out on ICAI's site for all four papers: one PDF each for Accounting, Business Laws, Quantitative Aptitude and Business Economics, plus one full volume with the examiners' comments. The paper-wise links are in the first table below and open ICAI's own PDFs. Each paper's PDF reprints ICAI's questions along with its answers or key, so one file per paper is enough.
May 2026 is the latest Foundation attempt on ICAI's Foundation suggested answers page (opens in a new tab) (checked 29 October 2026). Below you also get January 2026, September 2025 and May 2025, the notes ICAI prints in the Maths and Economics answer keys, one Law answer that has changed since, and a dated order for solving these papers before CA Foundation starts on 3 January 2027.
CA Foundation suggested answers May 2026 PDF, paper-wise
| Paper | Suggested answers May 2026 | What's inside | Practise it |
|---|---|---|---|
| 1. Accounting | PDF (opens in a new tab) | Questions with full answers and working notes | Accounting mock tests |
| 2. Business Laws | PDF (opens in a new tab) | Questions with answers, some with an alternate answer | Business Laws mock tests |
| 3. Quantitative Aptitude | PDF (opens in a new tab) | All 100 MCQs and the answer key | Maths mock tests |
| 4. Business Economics | PDF (opens in a new tab) | All 100 MCQs and the answer key | Economics mock tests |
| Full volume, with examiners' comments | PDF (opens in a new tab) | All four papers in one file |
ICAI's page: Suggested Answer, Foundation Course, May 2026 (opens in a new tab). The full volume says "Edition : July, 2026", and its contents list the four papers followed by "Examiners' comments on the performance of the examinees" on pages 131 to 133.
CA Foundation suggested answers Jan 2026, Sep 2025 and May 2025
The three attempts before May 2026 follow the same four-paper pattern. Every link is ICAI's own PDF.
| Paper | Jan 2026 | Sep 2025 | May 2025 |
|---|---|---|---|
| 1. Accounting | PDF (opens in a new tab) | PDF (opens in a new tab) | PDF (opens in a new tab) |
| 2. Business Laws | PDF (opens in a new tab) | PDF (opens in a new tab) | PDF (opens in a new tab) |
| 3. Quantitative Aptitude | PDF (opens in a new tab) | PDF (opens in a new tab) | PDF (opens in a new tab) |
| 4. Business Economics | PDF (opens in a new tab) | PDF (opens in a new tab) | PDF (opens in a new tab) |
| Full volume | PDF (opens in a new tab) | PDF (opens in a new tab) | Contents (PDF) (opens in a new tab) |
| Examiners' comments | PDF (opens in a new tab) | PDF (opens in a new tab) | PDF (opens in a new tab) |
ICAI's pages: January 2026 (opens in a new tab), September 2025 (opens in a new tab), May 2025 (opens in a new tab). January 2026 and September 2025 are also published in Hindi on the Foundation suggested answers page (opens in a new tab).
Looking for Jan 2025 or Sep 2024? ICAI's pages for those attempts (January 2025 (opens in a new tab), September 2024 (opens in a new tab)) carry Paper 1 and Paper 2 only: January 2025 Accounting (opens in a new tab) and Business Laws (opens in a new tab); September 2024 Accounting (opens in a new tab) and Business Laws (opens in a new tab). The question papers themselves, attempt by attempt, are on our CA Foundation past year question papers page.
CA Foundation suggested answers Sep 2026: what ICAI has published
ICAI has published the September 2026 Foundation question papers, but not the suggested answers or answer keys. All four papers are on ICAI's Foundation question papers page (opens in a new tab) under "September 2026", from Paper 1: Accounting (opens in a new tab) to Paper 4: Business Economics (opens in a new tab). They are scanned question papers only.
ICAI hasn't announced a date for the September 2026 answers. For reference only, the last three full volumes print "Edition : November, 2025" (September 2025, PDF (opens in a new tab)), "Edition : March, 2026" (January 2026, PDF (opens in a new tab)) and "Edition : July, 2026" (May 2026, PDF (opens in a new tab)); an edition month is not a release date, and nothing in them tells you when September 2026 will come. Until the answers come, use the September 2026 papers as question practice, and check them against the study material.
Papers 3 and 4: the answer key, and the notes ICAI prints
For Quantitative Aptitude and Business Economics, ICAI gives the 100 questions and an answer key, with no worked solutions. The key is a table of question number and correct option at the end of each PDF. Read the notes under it: in five of the eight MCQ papers below, ICAI flagged at least one question.
| Attempt | Paper 3: Quantitative Aptitude | Paper 4: Business Economics |
|---|---|---|
| May 2026 | "Q No: 41 and Q No 69: None of the options are correct" | No note |
| Jan 2026 | Q48 key: (B) and (D) both given | Q50 key: "(C) & (D)" |
| Sep 2025 | Q14: "None of the options were correct", with "Correct answer is 1,53,832" | No note |
| May 2025 | No note | Q51: "No correct option"; Q94 key: "(A & B)" |
Two things follow. First, when your answer to a flagged question doesn't match any option, don't count it as a mistake; ICAI says no option was right. Second, when you mark your attempt, deduct a quarter mark for every wrong answer, as in the real exam: the CA Foundation exam pattern and marking post has the full rule. Since the PDFs have no workings, solve every wrong MCQ again from the study material before you move on.
Are the older Law and Accounts answers still right for Jan 2027?
For method, yes. For figures that come from the law, check them first. ICAI's study material notice for January 2027 (PDF) (opens in a new tab) lists the August 2024 edition (Reprint August 2025 and onwards) for all four papers, "+ RTP for January 2027" for Papers 1 and 2. So the RTP carries the changes for your attempt.
One example shows why this matters. The January 2026 and May 2025 Business Laws answers define a small company under Section 2(85) of the Companies Act, 2013 with paid-up capital up to 4 crore rupees and turnover up to 40 crore rupees (Jan 2026 Paper 2, PDF (opens in a new tab); May 2025 Paper 2, PDF (opens in a new tab)). ICAI's September 2026 RTP for Paper 2 (PDF) (opens in a new tab) lists, under "Amendments for September 2026 examinations", Notification G.S.R. 880(E) dated 1 December 2025, which sets the limits at ten crore rupees and one hundred crore rupees. If you learn the limits from an older answer, you learn the old law.
The latest Foundation RTP on ICAI's RTP page (opens in a new tab) is January 2027. Read its amendments part before you trust any Law figure in a past answer (RTP Paper 2, January 2027, PDF (opens in a new tab)). The paper-wise rules are in what's applicable for your CA attempt. Accounting answers change less, but read every "Alternatively" note: ICAI often shows a second accepted way; the January 2026 Paper 1, for example, shows another way to route the surrender value of a joint life policy.
Which attempt to solve first before 3 January 2027
Start with May 2026, then January 2026; use September 2025 and May 2025 as question banks. The newest papers are closest to what ICAI asks now. Write each one by hand, in full time, in the real exam slot (ICAI's January 2027 schedule, PDF (opens in a new tab)): Papers 1 and 2 from 1:45 PM (15 minutes' reading time, then 2 to 5 PM), Papers 3 and 4 from 2 to 4 PM with no reading time.
One paper a Sunday fits beside the chapter-by-chapter plan in our CA Foundation revision planner:
| Date | Write | Why then |
|---|---|---|
| Sun 18 Oct | May 2026 Papers 3 and 4 | A baseline for the MCQ papers; the key takes minutes to check |
| Sun 25 Oct | May 2026 Paper 1 | At the end of company accounts and partnership in the planner |
| Sun 1 Nov | May 2026 Paper 2 | After Contract Act; read the examiners' comments the same evening |
| Sun 8 Nov | Jan 2026 Papers 3 and 4 | Shows whether your MCQ guessing rule improved |
| Sun 15 Nov | Jan 2026 Paper 1 | After final accounts and depreciation |
| Sun 22 Nov | Jan 2026 Paper 2 | The day before full mocks begin |
| 23 Nov to 29 Dec | Sep 2025 and May 2025 questions, chapter by chapter | Only the chapters your mock copies flag |
From 23 November the full mocks take over: three rounds per paper, dated in our CA Foundation Jan 2027 mock test plan. Past papers then become targeted practice, not full sittings.
How to check yourself with the suggested answers
The short version: finish the whole paper before you open the PDF, mark the MCQs against ICAI's key, and compare each written answer step by step, not only the final figure. The full five-step method, with a table for sorting every lost mark, is in how to check your answers with ICAI suggested answers.
Paper by paper, look for these in ICAI's answer:
| Paper | Check this in ICAI's answer |
|---|---|
| Accounting | The format, every working note, and any "Alternatively" line |
| Business Laws | The Act and section named, how it is applied to the facts, and the conclusion |
| Quantitative Aptitude | Your score after the quarter-mark deduction, and every flagged question |
| Business Economics | The chapter each wrong answer came from, for your revision list |
ICAI's volumes also say the suggested answers "do not constitute the basis for evaluation of the students' answers in the examination". They show a complete answer, not the marks for each step; step marking in CA exams explains how part marks work. CA Final students will find the same paper-wise set in CA Final suggested answers May 2026 PDF.
Frequently asked questions
Are the CA Foundation suggested answers May 2026 released?
Yes. ICAI's May 2026 Foundation page (opens in a new tab) has all four papers and the full volume, which carries "Edition : July, 2026".
Where can I download the CA Foundation May 2026 Accounts and Law suggested answers?
From the first table above: Accounting (PDF) (opens in a new tab) and Business Laws (PDF) (opens in a new tab). Both open on ICAI's own site.
Is there a CA Foundation answer key for May 2026 Maths and Economics?
Yes. The Paper 3 (PDF) (opens in a new tab) and Paper 4 (PDF) (opens in a new tab) suggested answers end with the key for all 100 questions. In Paper 3, ICAI notes that none of the options are correct for Q41 and Q69.
Are the CA Foundation suggested answers Sep 2026 out?
Not as of 29 October 2026. ICAI has published the September 2026 question papers (opens in a new tab), but its suggested answers page still lists May 2026 as the latest attempt.
Do the CA Foundation suggested answers include the questions?
Yes. Each paper-wise PDF prints every question, MCQs included, followed by ICAI's answer or the answer key.
Practise on a fresh paper, checked for you
Past papers show how ICAI asks; before January you also need papers you haven't seen. Our CA Foundation mock tests for January 2027 are brand-new full-syllabus papers set at the real ICAI exam standard: descriptive questions in Papers 1 and 2, MCQs in Papers 3 and 4, with every amendment applicable for January 2027 tested. 15+ qualified CA faculty set the papers. You write by hand, upload one PDF, and get your checked copy within 24 hours, with ICAI-style step-wise marks and the reason for every mark cut.
ICAI's MTPs, RTPs and past papers are on our CA Foundation free resources page. Every level's CA test series is on our CA mock tests home page.