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CUET Accountancy 2022 PYQs16 July Shift 2. Free, no login required.

Partnership

past year questions, CUET Accountancy 2022 16 July Shift 2

Accounting

past year questions, Partnership, CUET Accountancy 2022 16 July Shift 2

Medium

Find the right sequence of appropriation of profits

A. Profits transferred to P and L appropriation A/c.

B. Interest on capital

C. Profits distributed to partner after appropriation

D. Interest on partner loan A/c

Choose the correct answer from the options given below

Solution

✅ Correct Option: 3

Interest on partner's loan (D) is a charge on profit recorded in P and L A/c (before appropriation). Then net profit is transferred to P and L Appropriation A/c (A). Then appropriations such as interest on capital (B) are made. Finally, the remaining profit is distributed among partners (C). Correct sequence: D, A, B, C.

Related questions:

2026: 20 May Shift 1

Ansh and Abhi are partners sharing profits and losses in the ratio of 3 : 2. Their capital accounts showed balances of Rs. 3,00,000 and Rs. 4,00,000 respectively on April 01, 2024. Calculate interest on Ansh's Capital for the year ending March 31, 2025, if the partnership deed provides for interest on capital @ 8% p.a. and the firm earned a profit of Rs. 14,000 during the year.

2025: 27 May Shift 1

If the partnership deed is silent on interest on capital, then:

2023: 20 June Shift 2

Match List I with List II

LIST ILIST II
A. Only Capital A/c existI. Credited to partner's capital account
B. Capital account balance remain unchangedII. Debited to Partner's Capital Account
C. Fresh/additional capital brought in by partnerIII. Fixed Capital Account
D. Permanent withdrawalIV. Fluctuating Capital Account

Choose the correct answer from the options given below:

2026: 6 June Shift 1

If partnership deed is silent, what is the interest on capital payable to the partners?

2025: 3 June Shift 2

Match List-I with List-II

List-IList-II
(A) Bank (fresh capital introduced)(I) Debit side of Partner's Current Account
(B) Interest on drawings(II) Debit side of Partner's Capital Account
(C) Bank (permanent withdrawal of capital)(III) Credit side of Partner's Current Account
(D) Commission(IV) Credit side of Partner's Capital Account

Choose the correct answer from the options given below:

2026: 13 May Shift 2

Select the correct statements from the following related to the partnership.

(A) Rent paid to a partner is always an appropriation of profit.

(B) Interest on Loan from Partner is always a charge against profit.

(C) Interest on Partner's Capital is an appropriation of profit.

(D) Interest on Loan to Partner is not a charge against profit.

Choose the correct statements from the given options below :-

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