AfterBoards Logo
Skip to main contentSkip to solution

CUET Accountancy 2025 PYQs27 May Shift 1. Free, no login required.

Partnership

past year questions, CUET Accountancy 2025 27 May Shift 1

Accounting

past year questions, Partnership, CUET Accountancy 2025 27 May Shift 1

Medium

common

Under which Section & Act, the Central Government is empowered to prescribe a maximum number of partners in a firm, but the number of partners can not be more than 100?

Solution

✅ Correct Option: 2

Section 464 of the Companies Act 2013 empowers the Central Government to prescribe the maximum number of partners in a partnership firm, with the ceiling limit of 100 partners.

This provision replaced the earlier restrictions under the Companies Act 1956 (which limited partnerships to 10 partners for banking business and 20 for other businesses). The 2013 Act provides more flexibility by allowing up to 100 partners, recognizing the need for larger partnership structures in modern business scenarios.

It's important to note that there is no Companies Act 1932 - the earlier relevant act was the Companies Act 1956, which has now been superseded by the Companies Act 2013.

Related questions:

2026: 20 May Shift 1

Match List-I with List-II

List-IList-II
(A) Gaining Ratio(I) Average Profit X 100/Normal rate of return
(B) Value of Goodwill(II) Old Ratio - New Ratio
(C) Sacrificing Ratio(III) Super Profit X 100/Normal rate of return
(D) Capitalised Value of average profit(IV) New Ratio - Old Ratio

Choose the correct answer from the options given below:

2026: 29 May Shift 2

In respect of Accounting of Partnership firm, under fixed capital method, all items like share of profit or loss, interest on capital, drawings, interest on drawings will be recorded in:

2025: 3 June Shift 2

The Profit and Loss Appropriation Account is merely an extension of the Profit and Loss Account of the firm, which, among the following, is not shown in the Profit and Loss Appropriation Account?

2023: 28 May Shift 1

Partnership deed should be drafted and prepared as per :

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: 3 June Shift 2

The clauses of a partnership deed can be altered with the consent of ________.

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)