CUET Accountancy 2025 26 May Shift 2 PYQs

(A) - (II), (B) - (IV), (C) - (I), (D) - (III)

(A) - (II), (B) - (I), (C) - (III), (D) - (IV)

(A) - (IV), (B) - (II), (C) - (I), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

The partners' capital accounts will always show a credit balance.

All adjustments for drawings, salary, interest on capital, etc., are posted in the current accounts.

Under this method, two capital accounts are maintained for each partner.

The partners' current account may show a debit or a credit balance.

Capital

Realisation

Current

Bank

(A) - (II), (B) - (III), (C) - (IV), (D) - (I)

(A) - (II), (B) - (I), (C) - (III), (D) - (IV)

(A) - (II), (B) - (I), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

A company is an artificial person.

Company's shares are generally transferable.

Every member of a company is entitled to take part in its management.

The director of a company is always a shareholder.

Average profit method

Super profits method

Capitalisation method

Average super profit capitalization method

Shareholders

Auditors

Directors

Management

(A) - (II), (B) - (III), (C) - (I), (D) - (IV)

(A) - (II), (B) - (III), (C) - (IV), (D) - (I)

(A) - (I), (B) - (II), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

One third of total profit.

One fourth of total profit.

Half of total profit.

Two third of total profit.

Government Authority

Registrar of Firms

All the partners

State Government

(B) and (D) only

(A), (B) and (D) only

(C) and (D) only

(A) and (C) only

9%, Rs 750

10%, Rs 833

11%, Rs 917

12%, Rs 1000

Stock turnover ratio

Debtor turnover ratio

Debt-equity ratio

Current ratio

(A) - (IV), (B) - (III), (C) - (II), (D) - (I)

(A) - (II), (B) - (IV), (C) - (III), (D) - (I)

(A) - (II), (B) - (I), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

55,000

82,500

75,000

50,000

1,000

3,000

2,000

1,500

Statement of profit and loss.

Debentures applications and allotment account.

Loss on issue of debentures account

Debenture Redemption Reserve

Debit Side of Realisation Account, Credit side of Realisation Account

Credit Side of Realisation Account, Debit side of Realisation Account

Credit Side of Realisation Account, Debit side of Capital Account

Credit Side of Realisation Account, Credit side of Current Account

Rs. 1485

Rs. 1755

Rs. 1795

Rs. 1685

Profit and Loss Appropriation A/c Dr. To Profit and Loss A/c

Profit and Loss A/c Dr. To Profit and Loss Appropriation A/c

Profit and Loss Appropriation A/c Dr. To Partner's Capital/Current A/c's

Partner's Capital/Current A/c Dr. To Profit and Loss Appropriation A/c

(C), (B), (A), (D)

(B), (A), (D), (C)

(B), (A), (C), (D)

(C), (B), (D), (A)

(A) - (IV), (B) - (II), (C) - (III), (D) - (I)

(A) - (II), (B) - (I), (C) - (III), (D) - (IV)

(A) - (III), (B) - (II), (C) - (IV), (D) - (I)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Current liabilities and provisions

Reserves and surpluses

Share capital

Unsecured loans

Rs. 20,000

Rs. 40,000

Rs. 60,000

Rs. 70,000

(A), (B) and (C) only

(A), (B) and (D) only

(A), (B), (C) and (D)

(B), (C) and (D) only

(A) - (IV), (B) - (I), (C) - (II), (D) - (III)

(A) - (I), (B) - (II), (C) - (III), (D) - (IV)

(A) - (I), (B) - (II), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Bank Loan Mortgage

Bills Payable

Furniture and Fittings

Partners' Loan

(A), (B) and (D) only

(B), (C) and (D) only

(A), (B) and (C) only

(B), (C) and (D) only

Share Forfeiture A/c will be credited with 1,00,000

Share Forfeiture A/c will be debited with 1,00,000

Share Forfeiture A/c will be credited with 80,000

Share Forfeiture A/c will be debited with 80,000

New profit sharing Ratio of Sindhu and Priya = 1:2, Gaining Ratio of Sindhu and Priya = 3:2

New profit sharing Ratio of Sindhu and Priya = 3:2, Gaining Ratio of Sindhu and Priya = 5:2

New profit sharing Ratio of Sindhu and Priya = 5:2, Gaining Ratio of Sindhu and Priya = 5:2

New profit sharing Ratio of Sindhu and Priya =7:2, Gaining Ratio of Sindhu and Priya = 4:3

Profit and Loss Adjustment account

Assets account

Revaluation Account

Old partner's capital account

100

120

140

160

general reserve

capital redemption reserve

capital reserve

reserve capital

All adjustments in respect of partner's salary.

All adjustments in respect of payment to Vendor.

All adjustments in respect of interest on capital

All adjustments in respect of interest on drawings

2:3

3:2

1:2

2:1

Credit standard

Collection period

Credit terms

Collection policy

(A), (B) and (D) only

(A), (B) and (C) only

(B) and (D) only

(A) and (C) only

(A), (C), (D), (B)

(B), (D), (A), (C)

(B), (A), (C), (D)

(C), (B), (D), (A)

Sharing of profits and losses

Relationship of mutual agency among the partners.

Liability of partners is always unlimited.

Agreement to carry lawful business

Valid partnership can be formulated even without a written agreement between the partners.

Each partner carrying on the business is the principal as well as the agent for all the other partners.

Mere co-ownership of a property can amount to partnership.

Persons who have entered into partnership with one another are individually called 'partners' and collectively called 'firm'.

11:21

21:11

11:12

12:11

Capital Accounts in Profit Sharing Ratio

Realisation Account in Profit Sharing Ratio

Capital Accounts in Equal Ratio

Realisation Account in Equal Ratio

11:4:5

11:5:4

9:4:5

7:3:5

By debiting all partners' capital accounts in their old profit-sharing ratio.

By debiting remaining partners' capital accounts in their new profit sharing ratio.

By debiting retiring partners' capital accounts from his share of goodwill.

By debiting the retiring partners' current account from his share of goodwill.

Rs. 60,333

Rs. 73,333

Rs.50,300

Rs. 80,333

5.65 Times

4.95 Times

6.55 Times

5.15 Times

(B), (A), (D), (C)

(B), (A), (C), (D)

(B), (C), (D), (A)

(C), (B), (D), (A)

Cash revenue from operations.

Cash receipt from trade receivables

Selling and distribution expenses paid.

Proceeds from sale of old machinery.

(A) - (II), (B) - (III), (C) - (I), (D) - (IV)

(A) - (II), (B) - (III), (C) - (IV), (D) - (I)

(A) - (I), (B) - (II), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Liquidity

Activity

Debt

Profitability

Sales and Accounts Receivable Sub System

Purchase and Accounts Payable Sub System

Inventory Sub System

Expense Sub System

Expense Accounting Sub System

Tax Accounting Sub System

Final Accounts Sub System

Costing Sub System

Fixed Assets Accounting

Purchase and Accounts Payable

Pay Roll Accounting

Inventory

Password

Encryption

Grouping

Classification

Timely generation of reports and information in desired format.

Ensures effective control over the system.

Efficient record keeping.

Generation of non-programmed reports.