CA Inter MCQ question paper Sep 2026 with answer key: all 6
The CA Inter MCQ question paper Sep 2026 is out for all six papers, with ICAI's answer key on the last page of each file. ICAI posted them on its website, icai.org, under "MCQ Questions and Keys - September 2026 Intermediate Exams" (ICAI page (opens in a new tab)). Papers 1, 2, 4 and 5 have 15 MCQs and Papers 3 and 6 have 16, always 30 marks, with no negative marking. In three papers, one MCQ had no correct option and ICAI gave two marks to everyone who appeared.
Below: every paper's MCQ file and suggested answers in one table, what each paper's MCQs tested, six real MCQs worked with ICAI's key, how to score yourself, and a short plan to turn these 92 questions into marks in January 2027.
CA Inter MCQ question paper Sep 2026 with answer key: paper-wise
Each file is a scan of the real question paper booklet (Part I MCQs, then Part II descriptive), and its last page is the Set A key: booklet code, exam date, and the correct option for each MCQ. The suggested answers print the same MCQs again, with an "Answer Key" table at the end of Part I (ICAI suggested answers, September 2026 (opens in a new tab)).
| Paper (exam date) | MCQs and marks | MCQ booklet + key | Suggested answers |
|---|---|---|---|
| 1. Advanced Accounting (1 Sep) | 15 × 2 = 30 | PDF (opens in a new tab) | PDF (opens in a new tab) |
| 2. Corporate and Other Laws (3 Sep) | 15 × 2 = 30 | PDF (opens in a new tab) | PDF (opens in a new tab) |
| 3. Taxation (6 Sep) | 16: 2 sections × (7 × 2 + 1 × 1) = 30 | PDF (opens in a new tab) | PDF (opens in a new tab) |
| 4. Cost and Management Accounting (8 Sep) | 15 × 2 = 30 | PDF (opens in a new tab) | PDF (opens in a new tab) |
| 5. Auditing and Ethics (10 Sep) | 15 × 2 = 30 | PDF (opens in a new tab) | PDF (opens in a new tab) |
| 6. FM and SM (12 Sep) | 16: 2 sections × (7 × 2 + 1 × 1) = 30 | PDF (opens in a new tab) | PDF (opens in a new tab) |
The MCQ files are large scans (about 2 to 6 MB), so download them on Wi-Fi if you can.
ICAI's MCQ booklet: why your question numbers may not match
ICAI's page says: "The MCQ booklet with the respective answer key appearing at the end of each MCQ booklet is hosted for the purpose of guidance of students. The students can check the question as per this master set in their respective MCQ booklet." The key is for Set A. If your booklet was a different set, match each question by its text, not its number, before you compare options.
CA Inter MCQ answer key Sep 2026: the MCQs marked for all, and double answers
Three MCQs had no correct option, and ICAI gave two marks to every candidate who appeared in that paper. The key page for each carries the same footnote, naming its paper: "Examination Committee has reviewed that none of the options align with the intended academic outcome and awarded two marks to all the candidates who appeared in Paper 2." (Paper 5 and Paper 6 on the other two.)
| Paper | MCQ (Set A) | What the key says |
|---|---|---|
| 2. Law | Q4 (FEMA case) | No correct option, two marks to all |
| 2. Law | Q7 (shares with differential rights) | "B OR D" in the booklet key; the suggested answers print (D) |
| 3. Taxation | Q5 (clubbing of a minor's income) | "C OR D" in the booklet key; the suggested answers print "(C) or (D)" |
| 5. Audit | Q5 (use of capital and revenue reserves) | No correct option, two marks to all |
| 6. FM and SM | Q7 (number of equity shares from cost of equity) | No correct option, two marks to all |
| 6. FM and SM | Q9 (assertion and reason, SM) | "A OR B" in the booklet key; the suggested answers print "(A) & (B)" |
When you total your Part I, add the two marks for those three questions whatever you ticked, and count either listed option as correct where the key gives two.
What the CA Inter MCQs tested in September 2026
Most MCQs came in case scenarios: a page of facts, then two to six questions on it. Here is how each booklet was built, read from ICAI's files.
| Paper | How Part I was set |
|---|---|
| 1. Advanced Accounting | Case I (Q1–4): forward contract, refund of a government grant, return on plan assets, warranty provision. Q5 alone (sabbatical leave under AS 15). Case II (Q6–9): borrowing costs, current investment, a lawsuit and a clean-up, inventory at NRV. Q10 alone (Framework). Case III (Q11–14): buy-back. Q15 alone (dividend out of reserves) |
| 2. Law | Six cases, each on one law: dividend (Q1–3), FEMA (Q4–6), share capital and transfer (Q7–9), debentures and deposits (Q10–11), LLP Act (Q12–13), General Clauses Act (Q14–15) |
| 3. Taxation | Section A: capital gains case (Q1–3), a family case on capital gains, clubbing and revised return (Q4–6), advance tax (Q7), unexplained gold (Q8, 1 mark). Section B: GST from Q9, with Q16 for 1 mark |
| 4. Costing | Customer profitability case (Q1–5), production and raw material budgets case (Q6–10), five on their own: process costing, Halsey plan, FIFO issues, overtime premium, capacity |
| 5. Audit | Two cases of six (Q1–6, Q7–12), then three on their own: bank interest, client integrity under SQC 1, government expenditure audit |
| 6. FM and SM | Section A: start-up project case (Q1–5), Q8 for 1 mark (asset turnover). Section B: a retail shop case (Q9–13, Q9 an assertion-reason), Q16 for 1 mark |
For which chapters the 70 descriptive marks came from, see CA Inter chapter wise weightage Jan 2027. The full paper format is in CA Inter exam pattern Jan 2027.
Six Sep 2026 MCQs worked with ICAI's key
Short versions of the questions; the figures and answers are ICAI's. The working is ours, and it reaches ICAI's option each time.
1. Advanced Accounting, Q1 (key A). An asset bought for US$3,00,000 on 1 January 2026, with a six-month forward contract at ₹93 when the spot rate was ₹90. Premium = 3 × 3,00,000 = ₹9,00,000, spread over six months; three fall in 2025-26, so loss of ₹4,50,000 this year. The trap is option C, the full ₹9,00,000.
2. Advanced Accounting, Q6 (key C). A ₹50,00,000 loan at 12% from 1 April 2025 for a plant ready on 31 January 2026, with ₹40,000 earned on parked funds. Interest for 10 months = ₹5,00,000, less ₹40,000 = ₹4,60,000. Capitalisation stops when the asset is ready, not when production starts (1 April 2026).
3. Taxation, Q8 (1 mark, key C). Five gold bars of ₹3,50,000 each, ₹12 lakh explained. Unexplained ₹5,50,000 is taxed at 60% plus 25% surcharge and 4% cess, an effective 78%: ₹4,29,000.
4. Costing, Q11 (key B). FIFO equivalent units for conversion: finish opening WIP (8,000 × 80% = 6,400), units started and completed (46,000 − 8,000 = 38,000), closing WIP (12,000 × 40% = 4,800). Total 49,200.
5. Costing, Q12 (key C). Halsey plan, standard 72 hours, ₹60 an hour, effective rate ₹75. 75T = 60T + 50% × (72 − T) × 60, so 45T = 2,160 and T = 48 hours.
6. FM, Q1 (key B). A start-up with a three-year tax holiday borrows at 10%. With no tax to save, the cost of debt is 10% for three years, then 7% at a 30% tax rate. Applying the tax shield from year 1 is the trap.
And one to read slowly, from Audit Q3 (key B): when profit swings sharply, the benchmark for overall materiality was normalised profit before tax from past results, not this year's figure.
How to check your answers with the CA Inter MCQ key
- Write first, check later. Print or open the booklet, cover the last page, and answer all MCQs in one sitting on a sheet numbered like the OMR.
- Mark against the key. Add two marks for Law Q4, Audit Q5 and FM Q7; accept either option for Law Q7, Taxation Q5 and SM Q9.
- Remember the 1-mark questions in Papers 3 and 6 (Q8 and Q16) when you total out of 30.
- Tag every wrong or guessed MCQ: concept not known, misread fact, calculation slip, or ran out of time. A lucky guess goes in the log too.
- Read ICAI's suggested answer for the descriptive part of the same paper, so the session covers the whole 100 marks. Our method for checking with ICAI suggested answers shows how to mark steps.
The cover of every paper says: "There is no negative marking for a wrong answer," and no mark is given if no circle or more than one circle is darkened (Paper 2 booklet, PDF (opens in a new tab)). So in practice and in January, never leave an MCQ blank.
CA Inter MCQ practice for Jan 2027: a short plan
Group I is on 2, 4 and 6 January 2027 and Group II on 8, 10 and 12 January (ICAI schedule, PDF (opens in a new tab)).
| When | What to do with the MCQs |
|---|---|
| This week | Write all six Sep 2026 booklets, timed, and score them with the key |
| By mid-November | Revise the chapters your log shows; redo every wrong MCQ without looking |
| Late November to December | Practise MCQs inside full 3-hour papers, the way the exam sets them |
| Last ten days of December | No new MCQ sets; re-read your log and your traps list |
A rule of thumb: Part I is 30% of the marks, which is about 54 minutes of 180. Note how long your MCQs take in each paper, and keep enough time for the descriptive part. When to write each full paper before January is in our CA Inter mock test plan for Jan 2027.
Older MCQ booklets and question papers are on ICAI's Intermediate question papers page (opens in a new tab), on icai.org, and we list them paper-wise on our CA Inter past year question papers page. Revision Test Papers, with fresh MCQs, are on boslive.icai.org (ICAI Intermediate RTPs (opens in a new tab)). For the full Sep 2026 descriptive answers and older attempts, see CA Inter suggested answers Sep 2026.
Practise MCQs paper by paper
New MCQs, set on the latest ICAI pattern, come in every full mock of our subject pages: Advanced Accounting, Corporate and Other Laws, Taxation, Cost and Management Accounting, Auditing and Ethics and FM and SM.
Frequently asked questions
Where is the CA Inter MCQ question paper Sep 2026 PDF with answers?
On ICAI's page "MCQ Questions and Keys - September 2026 Intermediate Exams" (link (opens in a new tab)). Each paper's PDF is the question paper booklet with the Set A key on its last page. The table at the top of this post links all six directly.
Is there negative marking in CA Inter MCQs?
No. The cover of each paper says: "There is no negative marking for a wrong answer." A question with no circle or more than one circle darkened gets no mark.
How many MCQs are in each CA Inter paper?
Papers 1, 2, 4 and 5 have 15 MCQs of 2 marks. Papers 3 and 6 have 16: in each section, seven of 2 marks and one of 1 mark. Part I is always 30 marks.
Which CA Inter Sep 2026 MCQs got marks for all?
Law Q4, Audit Q5 and FM Q7 (Set A numbers). ICAI awarded two marks to all candidates who appeared in those papers.
Are CA Inter MCQs case scenario based?
Mostly. In September 2026, Law was all cases. Accounts, Costing and Audit mixed cases with a few stand-alone questions. Papers 3 and 6 had case scenarios in each section, a few stand-alone questions and one 1-mark question per section.
Turn these MCQs into January marks
Write the six booklets this week, score them honestly with ICAI's key, and fix what your log shows before your first full mock. When you want fresh full papers with a checked copy, our CA Inter test series for Jan 2027 has full-syllabus mocks for every paper: 30% MCQs and 70% descriptive on the latest ICAI pattern, every amendment applicable for January 2027, and your handwritten copy back within 24 hours. You get ICAI-style step-wise marks, the reason for every mark cut, and suggested answers with MCQ reasoning. Every level's CA test series and CA mock tests are on the home page.