CUET Accountancy 2025 PYQs29 May Shift 2. Free, no login required.

Which of the following will lead to dissolution of partnership firm by agreement?

On the retirement of an existing partner, an increase in the value of a liability will be credited to :-

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In the case of retirement of a partner, the item to be deducted from partner's capital account is.

The number of shares to be issued to a vendor for consideration other than cash is calculated as follows:

In which of the following case court can order dissolution of a partnership firm.

Profit on reissue of shares is transferred to

Executor account is prepared on

Which of the following are shown under capital account in case capital of partner's are fixed?

(A) Fresh capital introduced

(B) Permanent capital withdrawn

(C) Interest on capital

(D) Amount of capital brought down from the previous year

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Choose the correct statement :-

Various accounting aspects involved on retirement or death of a partner are as follows

(A) Adjustment in respect of unrecorded assets and liabilities

(B) Treatment of goodwill

(C) Preparation of Realization A/c

(D) Preparation of Executor's A/c

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Kim and Sim are partners in a firm sharing profits in 4:3 ratio. They admitted Pim as a new partner for 1/4 share in the profits, which he acquired in the ratio of 3:2 from Kim and Sim. Determine the new profit sharing ratio of the partners.

The maximum limit for the number of partner is decided by.

When Calls in Advance Account is adjusted _______ is credited and _______ is debited.

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Dissolution of a partnership firm may be ordered by the court on the following grounds:

(A) when a partner becomes insane.

(B) when a partner becomes permanently incapable of performing his duties as partner.

(C) when a partner acts in good faith

(D) when it is regarded just and equitable by the court.

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After forfeiture of share, the amount transferred to capital reserve is

Which is not a type of Debenture :-

In case of over subscription, the directors may

(A). Accept some applications in full and reject excessive applications.

(B). They can make pro-rata allotment to all.

(C). They can adopt a combination of the above two alternatives.

(D). They can make preferential allotment to some applicants.

In a Journal Entry of Forfeiture of Shares, Share Capital Account will be :-

Himanshu withdrew Rs.2,500 at the end of each month. The partnership deed provides for charging of interest on drawings @ 12% p.a. Calculate interest on Himanshu's drawings for the year ended March 31, 2017.

The account which is not used in journal entry of the forfeiture of shares is:

When drawings are made at the beginning of every month for the full year, interest on drawings is calculated for

According to which section of the partnership Act 1932, the dissolution of a partnership between all the partners of a firm is called the dissolution of the firm?

When there's no Article of Association of its own, the following provision of table A will apply at the time of issue of shares...

Identify which statement is FALSE-

Stock at the time of dissolution was appearing in books at Rs 50,000. Half of the stock was sold at a discount of 20% and the remaining was taken over by one of the partners at a 10% discount. What amount was received in cash at the time of realization of stock.

When a partner retires in the middle of the year and his share of profit is calculated based on previous years' profit. Which of the following account is to be debited?

In a Journal Entry of Forfeiture of Shares, Securities Premium Account may be debited, when :-

The goodwill based on capitalization of average profit method is valued at Rs 1,80,000. If Net Assets are Rs 8,20,000 then find the capitalized value of average profits.

A and B are partners, sharing profits equally. Their fixed capitals were Rs 2,00,000 and Rs 3,00,000 respectively. Interest on capital as provided under partnership deed @10% p.a was omitted. Select the correct option from the following:

The rate of interest on calls in arrears as per Table F can not exceed.

The steps involved in the calculation of goodwill under the super profit method are:

(A) Calculate goodwill by multiplying the super profit by number of years purchase.

(B) Calculate normal profit.

(C) Calculate Average Profit

(D) Calculate super profit.

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Match List-I with List-II

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When goodwill has to be inferred from the arrangement of capital and profit sharing ratio, it is called.

The new partner acquired the rights on admission into the firm. He acquires :

(A) Rights in past profits of firm before admission.

(B) Right to share in the future profits of the firm.

(C) Right to share assets of the firm.

(D) The right to carry on competing business.

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The steps followed for calculating interest on drawing in the product method are.

(A) Calculate number of month for which interest is due on each drawing

(B) List down amount of drawing in decending order in a table..

(C) find the total of product and apply the formula to calculate interest on drawing.

(D) Calculate product for each drawing by multiplying amount and number of month.

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A, B, and C were in partnership, sharing profits in the ratio of 3:2:1 respectively, B retires and the new profit sharing ratio between A and C is 3:2 . The gaining ratio is .

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At the time of dissolution, a firm transferred Rs.100,000 Assets to the realization account and 50% of the assets were taken over by Kiran at 20% discount. How much net assets were taken over by Kiran?

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

In case of dissolution of a partnership firm, losses, including deficiencies of capital, shall be paid first out of ...............

A private company is one which.

(A) restricts the right to transfer share..

(B) limits the number of members to 200.

(C) must have at least 2 persons.

(D) inculde a company which is subsidiary of public company.

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Match List-I with List-II

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Which is not usually included / mentioned in the contents of the Partnership Deed:-

Dividend received for a trading (non financing) organization is.

Which of following is not Cash Inflows from Investing Activities

The analysis of financial statements does not serve the purposes of

Net Profit after tax Rs. 60,000; 10% Long-term debt Rs.10,00,000; and Tax rate 40%. The net profit before interest and tax is:

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Which type of code assigns numbers or letters in a consecutive order to documents like invoices or cheques?

How does Data Vault (encryption) enhance the security of CAS data?

What type of coding uses abbreviations or letters to represent specific information like "SJ" for Sales Journal?

(A) Sequential Code

(B) Block Code

(C) Mnemonic Code

(D) Numerical Code

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What is the role of codification in the grouping of accounts within a CAS?

What is the purpose of the Data Audit feature in CAS software?

(A) To generate financial reports

(B) To identify changes made in the original data and by whom

(C) To detect viruses in the system

(D) To allow access to confidential reports

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