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CUET Accountancy 2025 PYQs30 May Shift 2. Free, no login required.

Company Accounts

past year questions, CUET Accountancy 2025 30 May Shift 2

Share Capital

past year questions, Company Accounts, CUET Accountancy 2025 30 May Shift 2

Easy

common

The following are the features of a Company:

(A) Separate Legal Entity

(B) Unlimited Liability

(C) Perpetual Succession

(D) Common Seal

Choose the correct answer from the options given below:

Solution

✅ Correct Option: 2

A company has distinct characteristics that differentiate it from other forms of business organizations. Let me examine each feature:

(A) Separate Legal Entity - A company is a separate legal person distinct from its members. It can own property, enter contracts, and file lawsuits in its own name. ✓ Correct feature

(B) Unlimited Liability - This is not a feature of a company. Companies have limited liability, where members' liability is restricted to the unpaid amount on their shares. This is actually one of the key advantages of forming a company. ✗ Incorrect feature

(C) Perpetual Succession - A company has continuous existence regardless of changes in membership. Death, insolvency, or transfer of shares by members does not affect the company's existence. The company continues until it is legally wound up. ✓ Correct feature

(D) Common Seal - A company has a common seal which serves as its official signature on documents. Though made optional under recent amendments to the Companies Act, 2013, it remains a recognized feature of a company. ✓ Correct feature

The correct features of a company are (A), (C) and (D) only.

Correct Answer: Option 2

Related questions:

2026: 11 May Shift 1

Match the LIST-I with LIST-II

LIST-I (Classification of Share Capital)LIST-II (Categories of Share Capital)
A.The authorised capital which is not offered for public subscription and it may be offered for public subscription at a later date.I.Issued Capital
B.A company may reserve a portion of its uncalled capital to be called only in the event of winding up of the company.II.Paid up Capital
C.It is that part of the authorised capital which is actually issued to the public for subscription including the shares allotted to vendors and the signatories to the company's memorandum.III.Reserve Capital
D.It is that portion of the called up capital which has been actually received from the shareholders.IV.Unissued capital

Choose the correct answer from the options given below:

2026: 21 May Shift 2

If the value of purchase consideration payable to the vendor is less than the value of the net assets taken over by the company, the difference will be credited to:

2025: 16 May Shift 1

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

2026: 21 May Shift 1

Sec. 2 (62) of the companies Act, 2013, defines OPC as a "company which has only one person as a member". Rule 3 of the Companies (Incorporation) Rules, 2014 provides that:

2025: 14 May Shift 2

Correct steps in the procedure of issue of shares are-

(A) Allotment of Shares

(B) Calls in Arrears

(C) Issue of Prospectus

(D) Receipt of Applications

Choose the correct answer from the options given below:

2025: 16 May Shift 1

When a company does not have its own articles of association, provisions of which table will apply:

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CUET Accountancy Past Year Questions (Topic-Wise)