Q1:
31 May Shift 1
Partnership > Dissolution
Medium
common
Unrecorded liabilities when paid are shown in:
Correct Answer
Option 1
Correct Answer
CUET Accountancy 2025 31 May Shift 1 PYQs
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Q2:
31 May Shift 1
Partnership > Accounting
Easy
common
If partnership deed is silent on the profit sharing ratio: interest @_____ per annum is allowed on loans advanced by partners-
Correct Answer
Option 2
Correct Answer
Q3:
31 May Shift 1
Partnership > Admission
Medium
common
Vijay and Sanjay are partners in a firm sharing profits and losses in the ratio of 3:2. They admitted Ajay into partnership with 1/4th share in profits. Ajay brings in Rs. 30,000 for capital and the requisite amount of premium in cash for goodwill. The goodwill of the firm is valued at Rs. 20,000. The new profit sharing ratio is 2:1:1. The sacrificing ratio of Vijay and Sanjay is:
Correct Answer
Option 2
Correct Answer
Q4:
31 May Shift 1
Company Accounts > Share Capital
Easy
common
Interest on calls in advance is provided at a rate not exceeding ........ as per "Table F":
Correct Answer
Option 1
Correct Answer
Q5:
31 May Shift 1
Partnership > Retirement/Death
Easy
common
On the death of an existing partner, in case the value of a Liability decreases then which account will be debited?
Correct Answer
Option 4
Correct Answer
Q6:
31 May Shift 1
Company Accounts > Share Capital
Easy
common
Jindal and Company purchased a machine from High Life Machine Limited for Rs.3,80,000. As per purchase agreement, Rs. 20,000 were paid in cash and balance by issue of shares of Rs.100 each. Find the number of shares issued, if they are issued at par:
Correct Answer
Option 3
Correct Answer
Q7:
31 May Shift 1
Company Accounts > Debentures
Medium
common
Match List-I with List-II | List-I | List-II | |---|---| | (A) Redeemable Debentures | (I) The company does not give any undertaking for the repayment of money borrowed by issuing such debentures | | (B) Convertible Debentures | (II) Which are payable on the expiry of the specific period either in lump sum or in installments during the life time of the company. | | (C) Irredeemable Debentures | (III) Which are convertible into equity shares or in any other security either at the option of the company or the debenture holders. | | (D) Unsecured Debentures | (IV) These do not have a specific charge on the assets of the company. | Choose the correct answer from the options given below:
Correct Answer
Option 3
Correct Answer
Q8:
31 May Shift 1
Partnership > Retirement/Death
Medium
common
Murli, Naveen and Omprakesh 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 Omprakesh. The gaining ratio of the remaining partners is-
Correct Answer
Option 2
Correct Answer
Q9:
31 May Shift 1
Partnership > Retirement/Death
Medium
common
Steps involved in various accounting aspects of retirement or death of a partner - (A) Settlement of the amounts due to retired/deceased partner (B) Ascertainment of new profit sharing ratio and gaining ratio (C) Adjustment of capital, if required (D) Revaluation of assets and liabilities Choose the correct answer from the options given below:
Correct Answer
Option 1
Correct Answer
Q10:
31 May Shift 1
Company Accounts > Share Capital
Easy
common
Match List-I with List-II | List-I | List-II | |---|---| | (A) Companies Limited by Shares | (I) A company which has only one person as a member. | | (B) Companies Limited by Guarantee | (II) There is no limit on the liability of its members. | | (C) Unlimited Companies | (III) The liability of its members is limited to the amount they undertake to contribute in the event of the company being wound up. | | (D) One Person Company | (IV) The liability of its members is limited to the extent of the nominal value of shares held by them. | Choose the correct answer from the options given below:
Correct Answer
Option 2
Correct Answer
Q11:
31 May Shift 1
Company Accounts > Debentures
Medium
common
Which of the following 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:
Correct Answer
Option 4
Correct Answer
Q12:
31 May Shift 1
Partnership > Accounting
Easy
common
In case partner's capital is fixed, then where interest on drawings charged will be shown?
Correct Answer
Option 3
Correct Answer
Q13:
31 May Shift 1
Partnership > Dissolution
Easy
common
Dissolution of a firm cannot take place in which of the situation-
Correct Answer
Option 4
Correct Answer
Q14:
31 May Shift 1
Partnership > Admission
Easy
common
Select the factors affecting the value of goodwill- (A) Nature of business. (B) Efficiency of management. (C) Location. (D) Prices. Choose the correct answer from the options given below:
Correct Answer
Option 2
Correct Answer
Q15:
31 May Shift 1
Partnership > Dissolution
Medium
common
The Court may order a partnership firm to be dissolved in which of the following case?
Correct Answer
Option 3
Correct Answer
Q16:
31 May Shift 1
Partnership > Accounting
Easy
common
Which statement is not true about Capital Accounts of Partner-
Correct Answer
Option 2
Correct Answer
Q17:
31 May Shift 1
Partnership > Accounting
Medium
common
Amitabh and Babul are partners sharing profits in the ratio of 3:2, with capitals of Rs. 50,000 and Rs. 30,000 respectively. Interest on capital is agreed @ 6% p.a. Babul is to be allowed an annual salary of Rs. 2,500. Manager is to be allowed commission @ 5,000. Amitabh has also given a Loan on April 01 , 2019 of Rs. 50,000 to the firm without any agreement. During the year 2019-20, the profits earned is Rs. 22,250. Profit and Loss Appropriation account shows balance of the Profit and Loss A/c (Net profit before Babul's salary) amounted to:
Correct Answer
Option 2
Correct Answer
Q18:
31 May Shift 1
Partnership > Accounting
Medium
common
Match List-I with List-II | List-I | List-II | |---|---| | Interest on Drawings | Time (Month) | | (A) When the amount is withdrawn at the beginning of each month. | (I) 6 months | | (B) When the amount is withdrawn at the end of each month. | (II) 6.5 months. | | (C) When the amount is withdrawn at the middle of each month. | (III) 5.5 months. | | (D) When the amount is withdrawn at the end of each quarter. | (IV) 4.5 months. | Choose the correct answer from the options given below:
Correct Answer
Option 3
Correct Answer
Q19:
31 May Shift 1
Partnership > Retirement/Death
Easy
common
At the time of retirement of a partner, undistributed profits appearing in the balance sheet of the old firm is transferred to the capital account of:
Correct Answer
Option 3
Correct Answer
Q20:
31 May Shift 1
Partnership > Dissolution
Easy
common
In the case of dissolution of a partnership firm, the accumulated profits and reserves are transferred to :
Correct Answer
Option 2
Correct Answer
Q21:
31 May Shift 1
Partnership > Accounting
Medium
common
Match List-I with List-II | List-I | List-II | |---|---| | (A) Gaining Ratio | (I) New Share - old Share. | | (B) Sacrificing Ratio | (II) Old Share - New Share. | | (C) Admission of Partner | (III) Partner may be paid amount more that what has actually due to him for hidden goodwill share. | | (D) Retirement of Partner | (IV) Partner may or may not bring his share of goodwill in cash. | Choose the correct answer from the options given below:
Correct Answer
Option 3
Correct Answer
Q22:
31 May Shift 1
Company Accounts > Share Capital
Easy
common
The balance of the Share Forfeiture Account will be shown in the Balance Sheet of the Company, under the head of :
Correct Answer
Option 1
Correct Answer
Q23:
31 May Shift 1
Partnership > Dissolution
Easy
common
On dissolution of the firm, partner's capital accounts are closed through:
Correct Answer
Option 3
Correct Answer
Q24:
31 May Shift 1
Partnership > Admission
Medium
common
A business has earned average profits of Rs. 1,00,000 during the last few years and the normal rate of return in a similar business is 10%. Ascertain the value of goodwill by capitalisation of average profits method, given that the value of net assets of the business is Rs. 8,20,000.
Correct Answer
Option 3
Correct Answer
Q25:
31 May Shift 1
Partnership > Admission
Hard
common
Mohit, Neeraj and Sohan are partners in a firm sharing profits in the ratio of 2 : 1 : 1. Neeraj retires and Mohit and Sohan decided that the capital of the new firm will be fixed at Rs. 1,20,000 and D is to bring in cash equivalent to 1/4th of this amount as his capital. The capital accounts of Mohit and Sohan show a credit balance of Rs. 82,000 and Rs. 41,000 respectively after making all the adjustments. Calculate the actual cash to be paid off or to be brought in by the continuing partners in total-
Correct Answer
Option 3
Correct Answer
Q26:
31 May Shift 1
Company Accounts > Share Capital
Easy
common
As a general rule, a company cannot ordinarily issue shares at ..................?
Correct Answer
Option 3
Correct Answer
Q27:
31 May Shift 1
Partnership > Accounting
Medium
common
Which combination of statements is true about partnership- (A) Valid partnership can be formulated even without a written agreement between the partners. (B) Methods of settlement of disputes among the partners can't be part of the partnership deed. (C) If the deed is silent, interest at the rate of 6% p.a. would be charged on the drawings made by the partner. (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:
Correct Answer
Option 1
Correct Answer
Q28:
31 May Shift 1
Company Accounts > Debentures
Easy
common
Debentures which are transferable by mere delivery are:
Correct Answer
Option 3
Correct Answer
Q29:
31 May Shift 1
Partnership > Dissolution
Easy
common
On dissolution of a firm, partner's loan account is transferred to:
Correct Answer
Option 1
Correct Answer
Q30:
31 May Shift 1
Partnership > Admission
Medium
common
Rohit and Mohit are partners in a firm sharing profits in the ratio of 5:3. They admit Bijoy as a new partner for 1/7th share in the profits. The new profit sharing ratio will be 4:2:1. The sacrificing ratio of Rohit and Mohit is-
Correct Answer
Option 2
Correct Answer
Q31:
31 May Shift 1
Partnership > Dissolution
Easy
common
According to section .......... of the Partnership Act, 1932, the dissolution of partnership between all the partners of a firm is called the dissolution of the firm.
Correct Answer
Option 4
Correct Answer
Q32:
31 May Shift 1
Company Accounts > Share Capital
Medium
common
When journal entry for forfeiture of shares is recorded in the Company's books, the Share Capital Account -
Correct Answer
Option 3
Correct Answer
Q33:
31 May Shift 1
Company Accounts > Share Capital
Easy
common
The Profit on reissue of forfeited shares is transferred to :
Correct Answer
Option 3
Correct Answer
Q34:
31 May Shift 1
Partnership > Admission
Medium
common
Match List-I with List-II | List-I | List-II | |---|---| | Method of Valuation of Goodwill | Formula | | (A) Average profit method | (I) Goodwill = Super profit × No. of years purchased | | (B) Super Profit Method | (II) Goodwill = capitalized value of average profit - actual firm's capital. | | (C) Capitalization of super profit method | (III) Goodwill = Average Profits × No. of years purchased | | (D) Capitalization of average profit method | (IV) Goodwill = (Super profit/ Normal Rate of Return) × 100 | Choose the correct answer from the options given below:
Correct Answer
Option 2
Correct Answer
Q35:
31 May Shift 1
Partnership > Dissolution
Easy
common
After transferring liabilities like creditors and bills payables in the Realisation Account, in the absence of any information regarding their payment, such liabilities are treated as:
Correct Answer
Option 2
Correct Answer
Q36:
31 May Shift 1
Partnership > Admission
Medium
common
A, B and C are partners in a firm sharing profits in the ratio of 3:2:1. D is admitted into the firm for 1/4th share in profits, which he gets 1/8th from B. The total capital of the firm is agreed upon as Rs. 1,20,000 and D is to bring in cash equivalent to 1/4th of this amount as his capital. The capitals of other partners are also to be adjusted in the ratio of their respective shares in profits. The capitals of A, B and C after all adjustments, are Rs. 40,000, Rs. 35,000 and Rs. 30,000 respectively. Calculate the new capital of A
Correct Answer
Option 1
Correct Answer
Q37:
31 May Shift 1
Partnership > Dissolution
Medium
common
Which combination of statements is true about dissolution- (A). Dissolution of a partnership is different from dissolution of a firm. (B). A partnership is dissolved when there is a death of a partner. (C). A firm is dissolved when all partners give consent to it. (D). A firm is compulsorily dissolved when a partner decides to retire. Choose the correct answer from the options given below:
Correct Answer
Option 2
Correct Answer
Q38:
31 May Shift 1
Partnership > Admission
Medium
common
A and B are partners in a firm sharing profits in the ratio 2:1. C is admitted into the firm with 1/4th share in profits and he brings Rs. 30,000 as his capital. If the capitals of A and B are to be adjusted in their profit sharing ratio then the capital of A will be-
Correct Answer
Option 2
Correct Answer
Q39:
31 May Shift 1
Company Accounts > Share Capital
Medium
common
Sunena, a shareholder holding 500 shares of Rs. 10 each, did not pay the allotment money of Rs. 4 per share (including a premium of Rs. 2) and the first and final call of Rs. 3. Her shares were forfeited after the first and final call. Choose the correct journal entry for forfeiture of the shares.
Correct Answer
Option 4
Correct Answer
Q40:
31 May Shift 1
Partnership > Accounting
Medium
common
Saloni and Srishti are partners in a firm. Their capital accounts as on April 01, 2019 showed a balance of Rs. 2,00,000 and Rs. 3,00,000 respectively. On July 01, 2019 Saloni introduced additional capital of Rs. 50,000 and Srishti, Rs. 60,000. On October 01, 2019 Saloni withdrew Rs. 30,000, and on January 01, 2020 Srishti withdrew Rs. 15,000 from their capitals. Interest is allowed @ 8% p.a. Calculate interest payable on capital to Saloni during the financial year 2019–2020.
Correct Answer
Option 2
Correct Answer
Q41:
31 May Shift 1
Company Accounts > Share Capital
Easy
common
Money received in advance from shareholders before it is actually called-up by the directors is :
Correct Answer
Option 2
Correct Answer
Q42:
31 May Shift 1
Company Accounts > Share Capital
Easy
common
Arrange Categories of Share Capital into correct order- (A) Subscribed Capital (B) Authorised Capital (C) Issued Capital (D) Called up Capital Choose the correct answer from the options given below:
Correct Answer
Option 1
Correct Answer
Q43:
31 May Shift 1
Partnership > Accounting
Easy
common
Contents of the Partnership Deed does not include
Correct Answer
Option 4
Correct Answer
Q44:
31 May Shift 1
Partnership > Admission
Medium
common
Anshu and Nitu are partners sharing profits in the ratio of 3:2. They admitted Jyoti as a new partner for 3/10 share which she acquired 2/10 from Anshu and 1/10 from Nitu. The new profit sharing ratio of Anshu, Nitu and Jyoti.
Correct Answer
Option 1
Correct Answer
Q45:
31 May Shift 1
Company Accounts > Share Capital
Easy
common
State which of the following combination of statements are true about the Company- (A) A company is an artificial person. (B) Capital reserves are created from capital profits. (C) Shareholders of a company are liable for the acts of the company. (D) A company's shares are generally transferable. Choose the correct answer from the options given below:
Correct Answer
Option 1
Correct Answer
Q46:
31 May Shift 1
Financial Statements > Cash Flow
Easy
Financial Statements
The analysis of the actual movement of money inflow and outflow in an organisation is called-
Correct Answer
Option 3
Correct Answer
Q47:
31 May Shift 1
Financial Statements > Cash Flow
Easy
Financial Statements
Which of the following is not an operating activity-
Correct Answer
Option 1
Correct Answer
Q48:
31 May Shift 1
Financial Statements > Ratios
Easy
Financial Statements
The two basic measures of liquidity are:
Correct Answer
Option 2
Correct Answer
Q49:
31 May Shift 1
Financial Statements > Cash Flow
Medium
Financial Statements
Arrange the following Cash Flows from Operating Activities in sequence as per indirect method- (A) Income Tax Paid (B) Net Profit/Loss before Tax and Extraordinary Items (C) Operating Profit before Working Capital changes (D) Effects of Extraordinary Items relating to operating activity. Choose the correct answer from the options given below:
Correct Answer
Option 2
Correct Answer
Q50:
31 May Shift 1
Financial Statements > Nature/Structure
Easy
Financial Statements
Which of the following is not the nature of financial statements-
Correct Answer
Option 2
Correct Answer
Q51:
31 May Shift 1
Computerised Accounting > Spreadsheet
Medium
Computerised Accounting
Which formula can be used to prevent leading or trailing spaces in a data validation rule?
Correct Answer
Option 1
Correct Answer
Q52:
31 May Shift 1
Computerised Accounting > Spreadsheet
Easy
Computerised Accounting
In Excel terminology, what is the area that contains the entire chart called?
Correct Answer
Option 3
Correct Answer
Q53:
31 May Shift 1
Computerised Accounting > Spreadsheet
Easy
Computerised Accounting
Provident Fund (PF) is calculated as a percentage of which component(s)?
Correct Answer
Option 2
Correct Answer
Q54:
31 May Shift 1
Computerised Accounting > Spreadsheet
Easy
Computerised Accounting
In a chart, what do data points represent?
Correct Answer
Option 2
Correct Answer
Q55:
31 May Shift 1
Computerised Accounting > Spreadsheet
Easy
Computerised Accounting
What does Dearness Allowance (DA) compensate for?
Correct Answer
Option 3
Correct Answer
CUET Accountancy 2025 31 May Shift 1 - Past Year Questions
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