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CUET Accountancy 2022 PYQs20 July Shift 1. Free, no login required.

Financial Statements

past year questions, CUET Accountancy 2022 20 July Shift 1

Nature/Structure

past year questions, Financial Statements, CUET Accountancy 2022 20 July Shift 1

Easy

Income ad Expenditure Account is prepared on (a)_________ basis, while Receipts and Payments Account is prepared on (b)_________ basis.

Solution

✅ Correct Option: 3

Income and Expenditure Account is based on accrual concept, matching revenues earned with expenses incurred during the period. Receipts and Payments Account is based on cash, recording only actual receipts and payments irrespective of the period they relate to.

Related questions:

2026: 29 May Shift 1

The financial statements of a business enterprise does not include:

2025: 27 May Shift 1

Arrange the following in correct sequence in preparation of the Balance sheet of a company.

(A) Non-current Liabilities

(B) Shareholder's Funds

(C) Current Liabilities

(D) Contingent liabilities

Choose the correct answer from the options given below:

  1. (D), (B), (C), (A)
  2. (B), (A), (C), (D)
  3. (B), (A), (D), (C)
  4. (C), (B), (D), (A)

2023: 28 May Shift 1

Find out cost of medicine consumed during 2020-21.

ParticularsAmount (Rs.)
Payment to creditors of medicines3,70,000
Creditors for medicines purchased on 1.04.202025,000
Creditors for medicines purchased on 31.03.202117,000
Stock of Medicines on 1.04.202062,000
Stock of Medicines on 31.03.202154,000
Advance to suppliers on 1.04.202011,000
Advance to suppliers on 31.03.202118,000

2022: 20 July Shift 1

The Receipts and Payments Account of Lead Sports Club showed payment for sports materials as Rs. 46,000 for the year ended 31st March 2022.

Additional Information provided is as follows :

Details31st March 202131st March 2022
Stock of sports MaterialsRs. 8,000Rs. 6,000
CreditorsRs. 18,000Rs. 5,000

Calculate the amount of Sports Materials consumed during the year ended 31st March 2022.

2025: 16 May Shift 1

Auditor issues Annual report of company refering to___.

2025: 13 May Shift 2

Match List-I with List-II

List-IList-II
(A) SHAREHOLDERS FUND(I) Non-current investments
(B) CURRENT LIABILITIES(II) Reserves and Surplus
(C) CURRENT ASSET(III) Trade Payables
(D) FIXED ASSET(IV) Inventories

Choose the correct answer from the options given below:

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CUET Accountancy Past Year Questions (Topic-Wise)