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

Which combination of statements are false about partnership-

(A) Interest on partner's loan is to be given @ 12% p.a. If the deed is silent about the rate.

(B) If the deed is silent, interest at the rate of 6% p.a. would be charged on the drawings made by the partner.

(C) Methods of settlement of dispute among the partners can't be part of the partnership deed.

(D) Each partner carrying on the business is the principal as well as the agent for all the other partners

Choose the correct answer from the options given below:

1. (A), (B) and (D) only
2. (A), (B) and (C) only
3. (A), (B), (C) and (D)
4. (B), (C) and (D) only

Match List-I with List-II

Choose the correct answer from the options given below:

1. (A) - (II), (B) - (III), (C) - (IV), (D) - (I)
2. (A) - (II), (B) - (III), (C) - (I), (D) - (IV)
3. (A) - (II), (B) - (I), (C) - (IV), (D) - (III)
4. (A) - (III), (B) - (IV), (C) - (I), (D) - (II)

If the partnership deed is silent on interest on capital, then:

Unrecorded Liabilities when paid are shown in:

Which of the following is not a way of issuing debentures-

Select the pair which is true about debentures-

(A) Debenture is a part of owned capital.

(B) The payment of interest on debentures is a charge on the profits of the company.

(C) The debentures cannot be issued at a discount of more than 10% of the face value.

(D) Redeemable debentures are those debentures, which are payable on the expiry of the specific period.

Choose the correct answer from the options given below:

1. (B) and (D) only
2. (A) and (D) only
3. (C) and (D) only
4. (A) and (B) only

Which of the following statements results in the reconstitution of a partnership firm :-

(A) Change in profit sharing ratio among partners.

(B) Admission of a new partner.

(C) Dissolution of a partnership firm.

(D) Dissolution of a partnership.

Choose the correct answer from the options given below:

1. (A), (B) and (C) only
2. (A), (B) and (D) only
3. (A), (B), (C) and (D)
4. (B), (C) and (D) only

Cronic Limited issued 10,000 equity shares of Rs. 10 each payable as Rs. 2.50 on application, Rs. 3 on allotment, Rs. 2 on first call, and the balance of Rs. 2.50 on second and final call. All the shares were fully subscribed and paid except by a shareholder having 100 shares who could not pay for second and final call. Call in Arrears A/c will be debited with-

Murli, Naveen and Omprakash are partners sharing profits in the ratio of 3 /8 , 1/2 and 1/8 . Murli retires and surrenders 2/3rd of his share in favour of Naveen and the remaining share in favour of Omprakash. The gaining ratio of the remaining partners is-

On the admission of a new partner increase in the value of assets is debited to:

The balance in the securities premium account can not be used ------------?

Match List-I with List-II

Choose the correct answer from the options given below:

1. (A) - (IV), (B) - (III), (C) - (I), (D) - (II)
2. (A) - (IV), (B) - (III), (C) - (II), (D) - (I)
3. (A) - (II), (B) - (I), (C) - (IV), (D) - (III)
4. (A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Dissolution by Court happens:

Partner's current accounts are transferred to respective________ partner's accounts.

Arrange the following in correct order for issue of shares-

(A) Share forfeiture

(B) Share Application

(C) Share Allotment

(D) Unpaid Call

Choose the correct answer from the options given below:

1. (B), (A), (C), (D)
2. (B), (C), (D), (A)
3. (B), (A), (D), (C)
4. (C), (B), (D), (A)

Balance of share forfeiture account is shown in the balance sheet under the item:

On dissolution of a firm, bank overdraft is transferred to:

Which of the following statement is incorrect -

A private company is one which by its articles of association:

1. Restricts the right to transfer its shares
2. A private company must have at least 2 persons, except in case of one person company
3. Its paid up share capital is not more than Rs. 50 Lakhs
4. Limits the number of its members to 200 (excluding its employees)

Arrange the various accounting aspects involved on retirement or death of a partner-

(A) Ascertainment of share of profit or loss up to the date of retirement/death

(B) Ascertainment of new profit sharing ratio and gaining ratio

(C) Distribution of accumulated profits and losses

(D) Settlement of the amounts due to retired/deceased partner

Choose the correct answer from the options given below:

1. (B), (C), (D), (A)
2. (B), (C), (A), (D)
3. (B), (A), (D), (C)
4. (C), (B), (D), (A)

Which of the following is not included in the Contents of the Partnership Deed-

The director of Poly Plastic Limited resolved that 200 equity shares of Rs.100 each be forfeited for non-payment of the second and final call of Rs.30 per share. Out of these, 150 shares were re-issued at Rs.60 per share to Mohit. Profit on reissue of forfeited shares transferred to capital reserve. Amount credited to capital reserve account is-

Excess value of net assets over purchase consideration at the time of purchase of business is credited to

X Limited Issued 10,000, 12% debentures of Rs. 100 each payable Rs. 40 on application and Rs. 60 on allotment. The public applied for 14,000 debentures. Applications for 9,000 debentures were accepted in full, applications for 2,000 debentures were allotted 1,000 debentures and the remaining applications, were rejected. All money was duly received. 12% Debenture Application A/c will be credited with -

According to section ....... of The Companies Act, 2013 'Debenture' includes debenture inventory, bonds and any other securities of a company whether constituting a charge on the assets of the company or not.

Match List-I with List-II

Choose the correct answer from the options given below:

1. (A) - (IV), (B) - (I), (C) - (III), (D) - (II)
2. (A) - (II), (B) - (I), (C) - (IV), (D) - (III)
3. (A) - (IV), (B) - (II), (C) - (I), (D) - (III)
4. (A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Gobind, Hari and Pratap are partners. On retirement of Gobind, the goodwill already appears in the Balance Sheet at Rs. 24,000. The goodwill will be written-off -

Lalit, Pankaj and Rahul are partners sharing profits in the ratio of 4 : 3 : 3. After all adjustments, on Lalit's retirement with respect to general reserve, goodwill and revaluation etc., the balances in their capital accounts stood at Rs. 70,000, Rs. 60,000 and Rs. 50,000 respectively. It was decided that the amount payable to Lalit will be brought by Pankaj and Rahul in such a way as to make their capitals proportionate to their profit sharing ratio. After Lalit's retirement, the new profit sharing ratio between Pankaj and Rahul is 1:1. New Capital of the firm will be-

In the case of a dissolution of a firm, accumulated losses are transferred to:

Unrecorded assets when taken over by a partner are shown on:

When a new partner brings his share of goodwill in cash, the amount is credited to-

Sameer and Yasmin are partners with capitals of Rs 15,00,000 and Rs 10,00,000 respectively. They agreed to share profits in the ratio of 3:2. The books are closed on March 31, every year. They admit Ravi on October 1, 2019 in the partnership, who bring Rs 12,00,000 as capital and Sameer also introduced additional capital Rs 3,00,000 on that date. Interest on partner's capital is provided @5% p.a. The amount of interest on the capital of Sameer for the year 2019-20 is-

Arrange the following in correct sequence in the case of dissolution of a partnership.

(A) Preparing a Bank account

(B) Realizing assets and payments of liabilities.

(C) Transferring of assets and liabilities in realization account.

(D) Preparation of capital account of partners.

Choose the correct answer from the options given below:

1. (A), (C), (B), (D)
2. (B), (C), (D), (A)
3. (B), (A), (D), (C)
4. (C), (B), (D), (A)

Correct Journal entry for transferring interest on capital to Profit and Loss Appropriation Account is-

Which of the following is NOT a method of valuation of goodwill?

Choose the wrong statements about company-

(A) A company is an artificial person.

(B) The company's shares are generally transferable.

(C) Shareholders of a company are liable for the acts of the company

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

Choose the correct answer from the options given below:

1. (B) and (D) only
2. (A), (B) and (D) only
3. (B), (C) and (D) only
4. (C) and (D) only

At the time of admission of a partner, undistributed profits appearing in the balance sheet of the old firm is transferred to the capital account of:

Arrange the steps involved under the super profit method of calculating goodwill-

(A) Calculate the normal profit on the firm's capital on the basis of the normal rate of return

(B) Calculate the average profit

(C) Calculate goodwill by multiplying the super profits by the given number of years' purchase

(D) Calculate the super profits by deducting normal profit from the average profits

Choose the correct answer from the options given below:

1. (A), (B), (C), (D)
2. (B), (C), (A), (D)
3. (B), (A), (D), (C)
4. (C), (B), (D), (A)

Choose combination of statements that are true about dissolution-

(A) Dissolution of partnership can not take place without intervention of the court.

(B) Court can order a firm to be dissolved when a partner becomes insane.

(C) A firm is compulsorily dissolved when a partner decide to retire.

(D) A partnership is dissolved when there is a death of a partner.

Choose the correct answer from the options given below:

1. (B) and (D) only
2. (A), (B) and (D) only
3. (A) and (D) only
4. (B), (C) and (D) only

Calculate interest on drawing if Ram withdrew Rs. 3,000 per month at the beginning of each month for the whole year, if interest on drawing is charged @ 9 % per annum.

Arrange in correct sequence at a time of admission of partner-

(A) Adjustments of capital accounts.

(B) Valuation of goodwill

(C) Calculation of new profit sharing ratio and sacrificing ratio.

Choose the correct answer from the options given below:

1. (A), (B), (C)
2. (A), (C), (B)
3. (B), (A), (C)
4. (C), (B), (A)

In which of the following situation compulsory dissolution of partnership can be done?

Das and Sinha are partners in a firm sharing profits in 4:1 ratio. They admitted Pal as a new partner for 1/4th share in the profits, which he acquired wholly from Das. The new profit sharing ratio of the partners is-

Which of the following is not the feature of fluctuating capital in partnership-

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?

Gaining share of Continuing Partner =

Arrange the following in correct sequence in preparation of the Balance sheet of a company.

(A) Non-current Liabilities

(B) Shareholder's Funds

(C) Current Liabilities

(D) Contingent liabilities

Choose the correct answer from the options given below:

1. (D), (B), (C), (A)
2. (B), (A), (C), (D)
3. (B), (A), (D), (C)
4. (C), (B), (D), (A)

Which of the following is not true about Comparative Statements-

Which of following is not Cash Inflows from Investing Activities

Match List-I with List-II

Choose the correct answer from the options given below:

1. (A) - (II), (B) - (IV), (C) - (I), (D) - (III)
2. (A) - (IV), (B) - (II), (C) - (I), (D) - (III)
3. (A) - (II), (B) - (III), (C) - (IV), (D) - (I)
4. (A) - (III), (B) - (IV), (C) - (I), (D) - (II)

The two basic measures of liquidity are:

$C4 or C$4 is an example of __________ reference.

__________ are numbered numerically from top to bottom while __________ are referred by alpha characters from left to right.

__________ is the function which adds the cells as per given specified criteria.

A cell reference identifies the location of a cell or group of cells in the spreadsheet also referred as a

By default cell reference is