AfterBoards Logo
Skip to main contentSkip to solution

CUET Accountancy 2025 PYQs13 May Shift 1. Free, no login required.

Partnership

past year questions, CUET Accountancy 2025 13 May Shift 1

Accounting

past year questions, Partnership, CUET Accountancy 2025 13 May Shift 1

Medium

Match List-I with List-II

List-IList-II
(A) Admission of a partner(I) Executor Accounts
(B) Retirement of a partner(II) Sacrificing Ratio
(C) Death of a partner(III) Realisation Account
(D) Dissolution of a partnership(IV) Gaining Ratio

Choose the correct answer from the options given below:

Solution

✅ Correct Option: 2

Looking at each scenario and identifying the relevant accounting concept:

(A) Admission of a partner → (II) Sacrificing Ratio

When a new partner is admitted, the existing partners give up (sacrifice) a portion of their profit share to the incoming partner. The proportion in which they sacrifice is calculated using the Sacrificing Ratio.

Sacrificing Ratio = Old Ratio - New Ratio

(B) Retirement of a partner → (IV) Gaining Ratio

When a partner retires, the remaining partners acquire (gain) the retiring partner's share. The proportion in which they gain is calculated using the Gaining Ratio.

Gaining Ratio = New Ratio - Old Ratio

(C) Death of a partner → (I) Executor Accounts

When a partner dies, all amounts due to the deceased partner (capital, share of goodwill, share of profits, etc.) are transferred to the Executor's Account or Legal Representative's Account. This account represents the heir or legal representative of the deceased partner.

(D) Dissolution of a partnership → (III) Realisation Account

When the partnership firm is dissolved, all assets are sold and liabilities are paid off. The Realisation Account is prepared to record the sale of assets, payment of liabilities, and calculation of profit or loss on realisation.

Correct matching:

  • (A) → (II)
  • (B) → (IV)
  • (C) → (I)
  • (D) → (III)

Correct Option: 2

Related questions:

2022: 8 Aug Shift 2

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

2025: 15 May Shift 2

Accounting treatment for a partnership firm is similar to that of a sole proprietorship business except the following aspects:

(A) Distribution of Profit and Loss among the partners

(B) Dissolution of Partnership Firm

(C) Raising Capital through public offering

(D) Adjustments for Wrong Appropriation of Profits in the Past

Choose the correct answer from the options given below:

2025: 30 May Shift 2

Aashish withdrew Rs. 10,000 per month from the firm for his personal use during the year ending March 31, 2017. What will be the amount of interest if the amount is withdrawn at the beginning of each month and rate of interest on drawings is 8% per annum?

2025: 2 June Shift 2

Match List-I with List-II

List-IList-II
(Different accounts. )(Related transaction.)
(A) profit and loss account.(I) dissolution of partnership.
(B) profit and loss appropriation account.(II) dissolution of firm.
(C) revaluation account(III) interest on loan to partner.
(D) realization account.(IV) transfer to reserve.

Choose the correct answer from the options given below:

2025: 24 May Shift 1

The Partnership Deed usually contains the following details:

(A) Amount of capital to be contributed by each partner

(B) The accounting period of the firm

(C) Profit and loss sharing ratio

(D) The rights, duties and liabilities of each partner

Choose the correct answer from the options given below:

2025: 3 June Shift 1

Which of the following will lead to the Reconstitution of a partnership Firm?

(A) Admission of a new partner

(B) Change in the profit sharing ratio among the existing partners

(C) Retirement of an existing partner

(D) Death of a partner

Choose the correct answer from the options given below:

Keyboard Shortcuts

  • Left arrow: Previous question
  • Right arrow: Next question
  • S key: Jump to solution
  • Q key: Jump to question

CUET Accountancy Past Year Questions (Topic-Wise)