Financial Statements

Nature/Structure

Easy

Match List I with List II

List I List II
A. Intangible Assets I. Provision for taxation
B. Short term provision II. Trade creditor
C. Long term borrowings III. 10% debentures
D. Current liabilities IV. Goodwill

Choose the correct answer from the options given below:

List I	List II
A. Intangible Assets	I. Provision for taxation
B. Short term provision	II. Trade creditor
C. Long term borrowings	III. 10% debentures
D. Current liabilities	IV. Goodwill

A-IV, B-I, C- III, D- II

A-I, B- III, C- IV, D- II

A-II, B- III, C- IV, D-I

A- I, B- IV, C-III, D-II

✅ Correct Option: 1

Goodwill is a classic intangible asset (A-IV). Provision for taxation is classified as a short term provision (B-I). 10% debentures are a form of long term borrowings (C-III). Trade creditors fall under current liabilities (D-II). Therefore the correct matching is A-IV, B-I, C-III, D-II.

2022: 30 Aug Shift 2

Match List I with List II

	LIST I: Major Head		LIST II: Sub Head
A.	Fixed assets	I.	Short term provisions
B.	Current Assets	II.	Money received against share warrants
C.	Current Liabilities	III.	Non current investment
D.	Shareholder's Funds	IV.	Inventories

Choose the correct answer from the options given below:

2022: 16 July Shift 2

Receipt and Payment a/c for the year ending 31.3.22.

Locker Rent	Rs.17,050

Additional Information:

Locker rent Rs.3,050 outstanding for the year 2020-21 and Rs.1,500 for 2021-22.

Locker rent received on advance at the end of current year i.e on 31.3.22 is Rs.1,000.

What amount of Locker Rent will be shown in Income and Expenditure A/c?

Choose the correct option:

2025: 13 May Shift 2

Arrange As Appear in Balance sheet as prescribed in part I of schedule III of the Companies act 2013-

(A) Non-current liabilities

(B) Current liabilities

(D) Shareholders fund

Choose the correct answer from the options given below:

2022: 8 Aug Shift 2

Which one of the following is not true?

2025: 24 May Shift 1

Match List-I with List-II

List-I	List-II
Expenses incurred to earn the income	Explanation
(A). Purchase of Stock-in-trade	(I). Expenses towards interest charges during the year on the borrowings
(B). Employees benefit expenses	(II). Diminution in the value of fixed assets
(C). Finance cost	(III). Purchases of goods for the purpose of trading
(D). Depreciation	(IV). Expenses incurred on employees towards salary, wages, leave encashment, staff welfare, etc

Choose the correct answer from the options given below:

2023: 28 May Shift 1

Find out cost of medicine consumed during 2020-21.

Particulars	Amount (Rs.)
Payment to creditors of medicines	3,70,000
Creditors for medicines purchased on 1.04.2020	25,000
Creditors for medicines purchased on 31.03.2021	17,000
Stock of Medicines on 1.04.2020	62,000
Stock of Medicines on 31.03.2021	54,000
Advance to suppliers on 1.04.2020	11,000
Advance to suppliers on 31.03.2021	18,000

Match List I with List II List IList IIA. Intangible AssetsI. Provision for taxationB. Short term provisionII. Trade creditorC. Long term borrowingsIII. 10% debenturesD. Current liabilitiesIV. Goodwill Choose the correct answer from the options given below:

Solution

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CUET Accountancy Past Year Questions (Topic-Wise)

Match List I with List II

List I List II
A. Intangible Assets I. Provision for taxation
B. Short term provision II. Trade creditor
C. Long term borrowings III. 10% debentures
D. Current liabilities IV. Goodwill

Choose the correct answer from the options given below: