CUET Accountancy - Outstanding Salaries for the current year is shown A. In the Opening Balance Sheet, as an asset B. In the Closing Balance Sheet, as an asset C. In the Income and Expenditure A/c by adding to the expense 'salary' D. In the Closing Balance Sheet, as a liability Choose the correct answer form the options given below: | PYQs + Solutions

CUET Accountancy 2022 15 July Shift 2

Partnership

Easy

B only

B and C only

C only

C and D only

✅ Correct Option: 4

Related questions:

31 May Shift 1

Which combination of statements is true about partnership-

(A) Valid partnership can be formulated even without a written agreement between the partners.

(B) Methods of settlement of disputes among the partners can't be part of the partnership deed.

(D) Each partner carrying on the business is the principal as well as the agent for all the other partners.

Choose the correct answer from the options given below:

20 July Shift 1

Interest on drawings of a partner has been calculated Rs. 3,000 @ 8% p.a. who has drawn equal amount in each quater; commencing from end of the first quarter throughout the year. The amount of drawing of partner per quarter would be :

16 July Shift 2

A firm which maintains fixed capital had two partners Vimla and Kamla sharing profits in the ratio 1:1 The firm credited the partners with profit without interest on Capital which is allowed in the deed. Choose the correct option to pass a journal entry for the past adjustment if the Interest on capital Rs.2000 for Vimla Rs.3000 for Kamla

CUET Accountancy 2022 15 July Shift 2 PYQs

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