CUET Accountancy 2023 PYQs20 June Shift 2. Free, no login required.

Match List I with List II

Choose the correct answer from the options given below:

Match List I with List II

Choose the correct answer from the options given below:

Which of the following item is not a tool of financial statement analysis?

Which of the following items are part of Intangible non current Assets:

A. Patents

B. Furniture

C. Statement of Profit & Loss A/c (Dr)

D. Goodwill

E. Trademark

Choose the correct answer from the options given below:

The following are the items appearing in Equities and Liabilities side of Balance Sheet

A. Deferred tax Assets (Net)

B. Reserve and Surplus

C. Deferred tax Liabilities (Net)

D. Long term borrowings

E. Long term loans and Advances

Choose the correct answer from the options given below:

Arrange the following in the context of Statement of Profit and Loss.

A. Other income

B. Expenses

C. Total Revenue

D. Revenue from operation

E. Profit before tax and extra-ordinary item

Choose the correct answer from the options given below:

The dissolution of Partnership may take place due to:

A. Retirement of Partner

B. Death of Partner

C. Insolvency of Partner

D. Admission of New Partner

E. Completion of Venture, if partnership formed for that purpose

Choose the correct answer from the options given below:

A, B, C were partners in a partnership firm their profit sharing ratio was 5:3:2. B retires and the new profit sharing ratio between A and C was 3:2. Calculate gaining ratio.

Vikas and Rahul are partners who shared profits in the ratio of 2:3. They admitted Sunil as a partner for $\frac{3}{7}$ th share in future profits who brings Rs.37,500 as his share of Goodwill. Half of which is withdrawn by sacrificing partners. Record Journal entry for Goodwill withdrawn by Partners.

A and B are partners sharing profits in the ratio of 2:1. C is admitted for the 1/4th share of profits, who brings Rs.20,000 as capital. After all adjustments related to goodwill, revaluation of assets and reassessment of liabilities etc, Capital of A and B are Rs.45,000 and Rs.15,000 respectively. It is agreed that partners capitals should be according to the new profit sharing ratio.

Determine the new capital of B.

Arrange the following statements in proper sequence in context of admission of partner.

A. Finalising terms for admission of new partner

B. Calculation of sacrificing/ gaining ratio

C. Finalising balance in partner's capital A/c

D. Calculation of new profit sharing ratio

E. Valuation and adjustment of goodwill

Choose the correct answer from the options given below:

If at the time of admission, some positive balance of Profit and Loss A/C appears in the books, it will be transferred to:

A, B and C are partners sharing profits in the ratio of 3:2:1. D is admitted into firm for $\frac{1}{4}$ th share of profit, which he gets $\frac{1}{8}$ from A and $\frac{1}{8}$ from B. Calculate new profit sharing ratio of all the partners.

Select the partner(s) who will compensate the deceased partner for the share of goodwill at the time of death.

Select out of the following that is not considered as one of the modes of reconstitution of a partnership firm.

Profits made on Revaluation of Assets and Reassessment of Liabilities is distributed among whom?

Salary of a partner is shown in

Select the conditions required for computing interest on drawings using average period method:

A. Equal amount of drawings

B. Fixed interval of drawings

C. Varying amounts of drawings

D. Different interval of drawings

E. Rate of Interest

Choose the correct answer from the options given below:

The content of Partnership deed includes:

A. Name and address of all partners

B. Method of settlement of disputes among partners

C. Deed once made cannot be altered

D. Rules regarding operation of Bank account

E. Verbal agreement between partners is considered as deed

Choose the correct answer from the options given below:

Match List I with List II

Choose the correct answer from the options given below:

Arrange the following in the context of "Buy Back of Shares".

A. Articles of Association must authorise Buy Back of share

B. Buy Back should be completed within 12 months

C. Maintaining debt equity ratio of not more than 2:1 after Buy Back

D. Passing Special Resolution in annual general meeting

E. Filing solvency declaration with registrar and SEBI

Choose the correct answer from the options given below:

Securities premium cannot be used:

Balance of Share Forfeiture account is shown in the Balance Sheet under the item:-

When a company reserve a portion of its uncalled capital to be called in the event of winding up, such uncalled capital is known as:-

The process of receiving minimum subscription of 90% of the entire issue must be completed within ______ days from date of issue of prospectus

Identify which of the following will lead to dissolution of partnership but NOT dissolution of the firm

Arrange the following in the context of dissolution of partnership firm.

A. Payment of loan from Partners

B. Payment of secured outsider's liabilities

C. Realisation of assets into cash

D. Settlement of partner's capital

E. Payment of unsecured outsider's liability

Choose the correct answer from the options given below:

Match List I with List II

Choose the correct answer from the options given below:

Unrecorded assets when taken over by a partner on dissolution are shown in:

Arrange the following in the context of Cash Flow Statement

A. Calculation of cash flow from Operating Activities

B. Calculation of cash flow from Financing Activities

C. Calculations of net increase/decrease in cash and cash equivalent during the year

D. Calculation of cash flow from Investing Activities

E. Calculation of net profit before tax and extraordinary item

Choose the correct answer from the options given below:

Match List I with List II

Choose the correct answer from the options given below:

Cash paid for inventory is:

The current version of Excel 2007 is now designed with a series of horizontal tables knows as ______

In total how many "Rows" are there in a spreadsheet?

MS Access is a

Identify the way by which the clauses of partnership deed can be altered.

Which of the following option regarding issue and redemption of debenture is not possible in general?

Calculate the Normal Rate of Return if normal profit is Rs.30,000, Assets Rs.5,30,000 and liabilities Rs.30,000, while calculating the value of goodwill of the firm at the time of admission of a partner.

Pie charts don't have more than ______ categories.

A newly admitted partner has the right to -