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

Related questions:

16 May Shift 1

While settlement of Accounts, what should be the order of application of assets of Firm

(A) In paying the debts of the firm to the third parties

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

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

Choose the correct answer from the options given below:

2 June Shift 2

On dissolution of a firm, the amount of loan taken from partner by firm will be transferred to

24 May Shift 1

Dissolution of a firm takes place on the happening of certain contingencies. Choose them from the following :

(A) By the death of a partner

(B) By the adjudication of a partner as an insolvent

(D) If constituted for a fixed term, by the expiry of that term

Choose the correct answer from the options given below:

CUET Accountancy PYQs