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

Financial Statements

past year questions, CUET Accountancy 2025 13 May Shift 1

Nature/Structure

past year questions, Financial Statements, CUET Accountancy 2025 13 May Shift 1

Easy

Read the information carefully and answer the given questions

ParticularsAmount (Rs.)
Inventories50,000
Trade Receivables50,000
Advance Tax4,000
Cash and Cash Equivalents30,000
Trade Payables1,00,000
Bank overdraft4,000

Amount of Total current liabilities are:

Solution

✅ Correct Option: 3

Current Liabilities are obligations that need to be settled within one year or the operating cycle of the business.

From the given information, identifying the current liabilities:

Current Liabilities:

  • Trade Payables = Rs. 1,00,000
  • Bank Overdraft = Rs. 4,000

Calculation:

Total Current Liabilities = Trade Payables + Bank Overdraft

Total Current Liabilities = Rs. 1,00,000 + Rs. 4,000 = Rs. 1,04,000

Note: The other items listed are Current Assets, not liabilities:

  • Inventories, Trade Receivables, Advance Tax, and Cash and Cash Equivalents are all assets owned by the business

Bank overdraft is treated as a current liability because it represents money owed to the bank that needs to be repaid on demand.

Answer: Option 3 - Rs. 1,04,000

Related questions:

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2025: 30 May Shift 1

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2026: 13 May Shift 2

Arrange the following in a correct sequence to prepare liabilities side of balance sheet as per Schedule III of Companies Act, 2013:

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2025: 15 May Shift 2

Match List-I with List-II

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Choose the correct answer from the options given below:

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CUET Accountancy Past Year Questions (Topic-Wise)