CUET Accountancy PYQs

Libraries run by charitable trusts are an example of:

The main source of revenue for 'not for profit' organisation is:

Which of the following would affect the Revaluation Account at the time of reconstitution of a partnership firm?

Window dressing is a practice

Calculate the resulting cash flow and state the nature of cash flow from the following information: Acquired machinery for ₹ 3,50,000 by issuing cheque.

Oversubscription is a situation where the

400 shares of ₹ 50 each issued at par were forfeited for non-payment of final call of ₹ 10 per share. These shares were reissued at ₹ 45 per share as fully paid-up. The amount transferred to capital reserve is:

If a delay occurs beyond 8 days in refunding the subscription amount, failing to gather the minimum subscription, from the date of closure of the subscription list, the company shall be liable for interest at the rate of:

A company can accept calls in advance, if authorised by:

A, B and C are partners sharing profits in the ratio of 3:2:1. C died on 1st July, 2023. On this date, final accounts were prepared to ascertain profits for the period. It resulted in a profit of ₹ 1,75,000 to the firm. To give effect to the above:

On the date of admission of a partner there was a balance of ₹ 45,000 in the account of machinery. It was found undervalued by 10%. The value of machinery will appear in the new Balance Sheet at:

Dividend received is

A partnership can have maximum 50 partners. This limit has been set by the:

Which of the following is an example of sequential code?

If there is no claim against Workmen Compensation Reserve, it is __________ at the time of admission of a partner.

A, B and C are partners sharing profits in the ratio of 3:3:4. They decide to share the future profits equally. The sacrifice or gain of partners are:

Kavita and Lalita are partners, sharing profits in the ratio of 2:1. They decide to admit Mohan for 1/4th share in profits with a guaranteed amount of ₹ 25,000. Both Kavita and Lalita undertake to meet the liability arising due to the guaranteed amount to Mohan in their respective profit sharing ratio. The firm earned profits of ₹ 76,000 for the year 2022-23. The deficiency borne by Kavita is:

Anshu and Nitu are partners, sharing profits in the ratio of 3:2. They admitted Jyoti as a new partner for 3/10 share which she acquired 2/10 from Anshu and 1/10 from Nitu. Calculate the new profit sharing ratio of Anshu, Nitu and Jyoti.

While preparing Cash Flow Statement, purchase of goodwill is treated as:

The components of Computerised Accounting System are:

The Sales and Accounts Receivable Subsystems deals with:

The common fields used in a relationship between tables are called:

On dissolution of a firm, bank overdraft is transferred to: