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CUET Accountancy 2022 PYQs8 Aug Shift 2. Free, no login required.

Partnership

past year questions, CUET Accountancy 2022 8 Aug Shift 2

Accounting

past year questions, Partnership, CUET Accountancy 2022 8 Aug Shift 2

Easy

Which from the following is not a feature of a partnership firm?

Solution

✅ Correct Option: 3

Existence of a lawful business, sharing of profits, and unlimited liability are core features of a partnership. Interests in a partnership, however, cannot be freely transferred; a partner cannot transfer his share to an outsider without the consent of all other partners. Free transferability is a feature of companies.

Related questions:

2026: 13 May Shift 1

At the time of change in profit sharing ratio, what will be the impact of reduction in the value of investment by 20% assuming existing book value of investments in balance sheet as Rs. 2,40,000 and there is an investment fluctuation reserve existing in balance sheet at Rs. 30,000?

2026: 20 May Shift 1

Radha and Rani are partners in a firm. Their capital accounts as on April 01, 2024 showed a balance of Rs. 2,00,000 and Rs. 3,00,000 respectively. On July 01, 2024, Radha introduced additional capital of Rs. 50,000. On October 01, Radha withdrew Rs. 30,000, from her capital. Interest is allowed @ 8% p.a. Calculate the interest payable to Radha on her capital during the financial year 2024–2025.

2025: 26 May 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:

2025: 22 May Shift 1

Which of the following statement is incorrect?

2025: 22 May Shift 2

Which of the following are charges against profits?

(A) Rent paid to partners

(B) Interest on loan, paid to partners

(C) Interest on Capital

(D) Manager's commission

Choose the correct answer from the options given below:

2026: 21 May Shift 1

Partnership deed should be properly drafted and prepared as per the provisions of:

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