AfterBoards Logo
Skip to main contentSkip to solution

CUET Accountancy 2022 PYQs15 July Shift 2. Free, no login required.

Partnership

past year questions, CUET Accountancy 2022 15 July Shift 2

Accounting

past year questions, Partnership, CUET Accountancy 2022 15 July Shift 2

Easy

Identify a characteristics not applicable in partnership

Solution

✅ Correct Option: 3

A partnership is formed to carry on a lawful business with the objective of earning profits. Social or religious purposes are not the aim of a partnership firm and are handled through trusts or societies. The other options (maximum 50 members, partnership agreement, and principal-agent relationship) are genuine features of a partnership.

Related questions:

2025: 2 June Shift 2

Match List-I with List-II

List-IList-II
(Different accounts. )(Related transaction.)
(A) profit and loss account.(I) dissolution of partnership.
(B) profit and loss appropriation account.(II) dissolution of firm.
(C) revaluation account(III) interest on loan to partner.
(D) realization account.(IV) transfer to reserve.

Choose the correct answer from the options given below:

2026: 13 May Shift 2

The books of a business showed that the firm's capital employed is Rs. 2,50,000 and the profits for the last five years were: 2021–Rs. 20,000; 2022-Rs. 25,000; 2023-Rs. 27,500; 2024- Rs.35,000 and 2025-Rs. 42,500. What will be the value of Super Profit, when the goodwill valuation is done on the basis of 3 years' purchase of super profits of the business, given that the normal rate of return is 10%.

2026: 29 May Shift 2

Varun and Karan are partners sharing profits and losses in the ratio of 2:1. Their capitals at the end of the financial year 2024-25 were Rs. 1,80,000 and Rs. 90,000. During the year 2024-25, drawings of Varun and Karan were Rs. 30,000 and Rs. 10,000 respectively, which had been duly debited to partner's capital accounts. Profit before charging interest on capital for the year was Rs. 24,000, the same had also been distributed in their profit sharing ratio. Further Karan brought additional capital of Rs. 20,000 on December 31, 2024. Calculate interest on capital for Varun @ 10% p.a. for the year 2024-25.

2026: 11 May Shift 2

Which of the following item will not be shown on the credit of partner's current A/c?

2026: 31 May Shift 1

Reconstitution of a partnership firm takes place when:

2025: 13 May Shift 1

The total amount of interest on drawings will be:

Keyboard Shortcuts

  • Left arrow: Previous question
  • Right arrow: Next question
  • S key: Jump to solution
  • Q key: Jump to question

CUET Accountancy Past Year Questions (Topic-Wise)