Existing Profit and Loss Account in the books of the firm will be shared/borne by partners in the ratio: Option 1: 5 : 3 : 2 Option 2: Equal Ratio Option 3: 4 : 3 : 2 Option 4: Ratio of closing capital claims

The answer is '5 : 3 : 2'. View full solution:

CUET Accountancy - Existing Profit and Loss Account in the books of the firm will be shared/borne by partners in the ratio: | PYQs + Solutions

CUET Accountancy

Partnership

Easy

5 : 3 : 2

Equal Ratio

4 : 3 : 2

Ratio of closing capital claims

✅ Correct Option: 1

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4 June Shift 2

Which of the following combination of statements are true about dissolution-

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(B). Dissolution of a partnership is different from dissolution of a firm.

(C). A partnership is dissolved when there is a death of a partner.

(D). Dissolution of a firm necessarily involves dissolution of partnership.

Choose the correct answer from the options given below:

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(A). In paying to each partner proportionately what is due to him on account of capital.

(B). The residue, if any, shall be divided among the partners in their profit sharing ratio.

(C). In paying the debts of the firm to third parties.

(D). In paying each partner proportionately what is due to him/her from the firm for advances as distinguished from capital (i.e. partner loan).

Choose the correct answer from the options given below:

13 May Shift 1

The assets of the firm, including any sum contributed by the partners to make deficiencies of capital, shall be applied first for paying ...........

CUET Accountancy PYQs

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