CUET Accountancy 2022 30 Aug Shift 2 PYQs

As per Receipts and Payments Account for the year ended on March 31, 2020, subscriptions received were Rs. 2,50,000 subscriptions outstanding on 1-04-2019 Rs. 50,000, Subscriptions received in advance as on 31-3-2020 are Rs. 30,000. Subscriptions for the year 2019-20 will be:

At the time of admission of a new partner general reserve appearing in the old balance sheet is transferred to _______

Match List I with List II | | LIST I: Basis of Debenture | | LIST II: Types of Debenture | |---|---|---|---| | A. | Tenure | I. | Zero coupon rate | | B. | Interest rate point of view | II. | Irredemable | | C. | Security | III. | Registration | | D. | Bearer | IV. | Secured | Choose the correct answer from the options given below:

On retirement of a partner, the retiring partner's capital account will be credited with _____

Journal entry to be passed for unrecorded assets for preparing Revaluation A/C at the time of Retirement of a partner will be ____

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:

Match List I with List II | | LIST I | | LIST II | |---|---|---|---| | A. | Cash Equivalents | I. | Interim Dividend paid | | B. | Financing Activities | II. | Selling & Distribution expenses paid | | C. | Operating Activities | III. | Marketable securities | | D. | Investing Activities | IV. | Dividend received on Shares held as investment | Choose the correct answer from the options given below:

At the time of retirement of a Partner the remaining gaining partners should compensate the ______

If a partner retires in the middle of the year his/her share of profit from the date of last balance sheet till the date of retirement will be transferred to : ____

If debentures are converted into equity shares, it is a/an : _____

Match List I with List II in context of not having partnership deed. | | LIST I | | LIST II | |---|---|---|---| | A. | Interest on loan | I. | Equal | | B. | Interest on drawings | II. | Will not be charged | | C. | Salary | III. | @ 6% p.a. | | D. | Profit sharing ratio | IV. | Will not be allowed/provided | Choose the correct answer from the options given below:

What is the correct sequence of allotment of shares A. Allotment money received B. Inviting applications from investors C. Allotment Due D. Application money Received E. Share Call Money Due Choose the correct answer from the options given below :

What is the correct sequence of types of capital in company's Balance sheet while preparing notes to accounts. A. Issued Capital B. Subscribed and fully paid up capital C. Share forfeited Balance D. Authorised Capital E. Subscribed but not fully paid up capital Choose the correct answer from the options given below:

Identify the correct sequence to find out profit after tax while preparing comparative income statement A. Deduct expenses B. Find out total revenue by adding other incomes to revenue from operations C. Find out profit after tax D. Deduct tax E. Calculate profit before tax Choose the correct answer from the options given below:

If net profit made during the year are Rs. 50,000 and the bills receivables have decreased by Rs. 10,000 during the year then the cash flow from operating activities will be:

The capital accounts of partners will always show a ____ balance under fixed capital account method

Aman and Mohan, partners of a firm decided to dissolve the business on 31-03-22. The firm decided to pay realisation expenses of Rs. 1,000 on behalf of Mohan. Rs.1000 will be debited to

Common size analysis is also known as

Calculate the amount of yearly interest payable on 9% debentures (10,000 debentures of Rs. 100) issued as collateral security.

If the net profit earned during the year is Rs. 1,00,000 and the amount of Bills receivables in the beginning and the end of the year is Rs. 20,000 and Rs. 40,000 respectively, then cash flow from operating activities will be:

Sale of copy rights are considered as a part of

Romi Ltd. purchased building worth Rs. 1,50,000 machinery worth Rs. 1,40,000 and furniture worth Rs. 10,000 from xyz co. and took over its liabilities of Rs. 20,000 for a purchase consideration of Rs. 3,15,000. They paid the purchase consideration by issuing 12% debentures of Rs. 100 each at a premium of 5%. What will be the number of debentures issued by Romi Ltd.

Securities premium Reserve can be utilised ___ A. to return excess money received on application B. to write off preliminary expenses C. to issue partly paid bonus shares D. for premium paid on Redemption of Debentures or preference shares E. for buy back of shares Choose the correct answer from the options given below:

What are different types of debentures from the view point of registration A. Convertible B. Bearer C. Redeemable D. Secured E. Registered Choose the correct answer from the options given below:

Identify the steps in preparation of final accounts of not for profit organisation (NPO) A. Prepare Balance Sheet of NPO B. Prepare Income and Expenditure Account from Receipts and payment Account C. Prepare Receipts and payment Account D. Adjust outstanding/prepaid expenditure/Income and determine surplus/ Deficit E. Prepare cash book Choose the correct answer from the options given below:

Match List I with List II in context g cashflow statement | | LIST I | | LIST II | |---|---|---|---| | A. | Sale of fixed asset | I. | Outflow in operating activities | | B. | Purchase of Goodwill | II. | Inflow in Investing Activities | | C. | Tax Paid | III. | Outflow in Investing Activities | | D. | Dividend Paid | IV. | Outflow in Financing Activities | Choose the correct answer from the options given below:

Identify the limitations of financial statements : A. Can be biased B. Report on stewardship function C. Aggregate information D. Only interim reports E. Basis of fiscal policies Choose the correct answer from the options given below:

What are the different types of liquidity ratios A. Interest coverage ratio B. Current ratio C. Inventory turnover ratio D. Gross profit ratio E. Acid test ratio Choose the correct answer from the options given below:

Identify the components of equity: A. Money received against share warrants B. Working capital C. Share capital D. Reserves & surplus E. Cash Revenue from operations Choose the correct answer from the options given below:

Identify the correct sequence of current assets in company's Balance sheet? A. Bills Receivables B. Cash & cash equivalents C. Short term loans & advances D. Inventories E. Current investments Choose the correct answer from the options given below:

When debentures are issued at premium with the term of redeeming them at par. The amount of premium received at the time of issue will be:

While preparing common-size Balance sheet, each item of Balance sheet is expressed as % of

It is the amount-paid to the person who is not the regular employee of the institution.

When the total amount withdrawn is given but the date of withdrawal is not given then interest on drawings is charged for a period of:

At the time of admission of partner if goodwill exist in the books of account it will be written off among:

Rani, Sandhya and Kangana are partners sharing profits in the ratio of 4:3:2 Rani retires. Sandhya and Kangana decided to share profits in future in the ratio of 5:3. Gaining ratio of Sandhya and Kangana will be

What are the internal controls designed to do ?

How many blank worksheets are shown when a new workbook is created.

Which of the following arguments in a financial function represents the total number of payments

The term ' field' as applied to database table means.