Q1:

Accounting

Medium

common

Match List-I with List-II

List–I (Events)List–II (Result)
(A) Profit share(I) Gaining ratio.
(B) Admission of Partners(II) Different concept
(C) Retirement of a partner.(III) Equally among partners
(D) Dissolution of firm and partnership.(IV) Sacrifice ratio.

Choose the correct answer from the options given below:

Answer options
Option 4
Correct Answer
Explanation for 2025: 3 June Shift 1 ACC question 1

Q2:

Share Capital

Easy

common

Which of the following statements are true with reference to a company?

(A) The directors of the company are the owners of the company.

(B) A company is an artificial person.

(C) A company has its common seal.

(D) The liability of the members of the company is limited to the extent of shares held by them

Choose the correct answer from the options given below:

Answer options
Option 4
Correct Answer
Explanation for 2025: 3 June Shift 1 ACC question 2

Q3:

Dissolution

Medium

common

In the case of the Dissolution of partnership firm, which accounts are opened:

(A) Realization Account

(B) Revaluation Account

(C) Partners Capital Account

(D) Bank Account

Answer options
Option 4
Correct Answer
Explanation for 2025: 3 June Shift 1 ACC question 3

Q4:

Share Capital

Medium

common

Match List-I with List-II

List–IList–II
(A) Calls in Arrears(I) Shares are taken back by the company as shareholders failed to pay one or more installments, viz. allotment money and/or call money.
(B) Calls in Advance(II) This is a situation where the number of shares applied for is less than the number for which applications have been invited for subscription.
(C) Forfeiture of Shares(III) This is the amount which any shareholder fails to pay on allotment or on any of the calls.
(D) Under Subscription(IV) Table 'F' of the Companies Act provides for the payment of interest on this call at a rate not exceeding 12% per annum.

Choose the correct answer from the options given below:

Answer options
Option 4
Correct Answer
Explanation for 2025: 3 June Shift 1 ACC question 4

Q5:

Admission

Medium

common

The journal entries are as under

Incoming partners' current A/c. Dr.

To Sacrificing partners capital A/c.

What statement among the following is TRUE for the above entry?

Answer options
Option 2
Correct Answer
Explanation for 2025: 3 June Shift 1 ACC question 5

Q6:

Retirement/Death

Medium

common

Steps involved in accounting treatment at the time of death/retirement of a partner -

(A) Adjustment of capital, if required

(B) Preparation of revaluation account, if required

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

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

Choose the correct answer from the options given below:

Answer options
Option 2
Correct Answer
Explanation for 2025: 3 June Shift 1 ACC question 6

Q7:

Dissolution

Medium

common

Match List-I with List-II

List–I (Events)List–II (Result)
(A) Termination of business.(I) Not possible in dissolution of partnership.
(B) Continuation of Business(II) Not possible in the dissolution of a firm.
(C) Intervention of court.(III) Dissolution of firm
(D) Continuation of books of accounts.(IV) Dissolution of partnership.

Choose the correct answer from the options given below:

Answer options
Option 1,4
Correct Answer
Explanation for 2025: 3 June Shift 1 ACC question 7

Q8:

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.

Answer options
Option 4
Correct Answer
Explanation for 2025: 3 June Shift 1 ACC question 8

Q9:

Share Capital

Easy

common

Arrange the following steps in the procedure of share issues in the correct sequence:

(A) Receipt of Applications

(B) Allotment of Shares

(C) Issue of Prospectus

(D) Listing on the stock exchange

Choose the correct answer from the options given below:

Answer options
Option 2
Correct Answer
Explanation for 2025: 3 June Shift 1 ACC question 9

Q10:

Share Capital

Easy

common

Identify the true statement in respect of Reserve Capital :-

Answer options

Q11:

Admission

Easy

common

Arrange the following steps which involve the Super Profits Method of valuation of goodwill in the correct sequence:

(A) Calculate the average profit.

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

(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:

Answer options

Q12:

Share Capital

Medium

common

From an accounting point of view, arrange the following share capital of the company in the correct sequence:

(A) Subscribed Capital

(B) Authorized Capital

(C) Called up Capital

(D) Issued Capital

Choose the correct answer from the options given below:

Answer options

Q13:

Admission

Medium

common

Rajinder and Surinder are partners in a firm sharing profits in the ratio of 4:1. On April 15, 2017, they admitted Narender as a new partner. On that date, there was a balance of Rs. 20,000 in general reserve and a debit balance of Rs. 10,000 in the profit and loss account of the firm. Which among the following statements is correct for transferring profit and loss account?

Answer options

Q14:

Retirement/Death

Easy

common

In the absence of any information regarding the acquisition of a share in profit of the retiring/deceased partner by the remaining partners, it is assumed that they will acquire his/her share:

Answer options

Q15:

Share Capital

Easy

common

Nominal share capital is :

Answer options

Q16:

Nature/Structure

Easy

common

Reserve and surplus are shown under the _________________________ in the balance sheet of a company.

Answer options

Q17:

Share Capital

Easy

common

Match List-I with List-II

List–IList–II
(A) Authorized capital(I) Mentioned in Prospectus.
(B) Issued capital.(II) Mentioned in Memorandum of Association.
(C) Subscribed capital.(III) called up capital–calls in arrears.
(D) Paid up capital.(IV) Capital for which application is received.

Choose the correct answer from the options given below:

Answer options

Q18:

Share Capital

Easy

common

R Ltd purchased a building from X Infra for Rs 6,00,000 and the payment is to be made by the issue of shares for Rs 100 each at a premium of 20%. Calculate the number of shares to be issued.

Answer options

Q19:

Dissolution

Easy

common

On dissolution of a partnership firm, the bills payable is transferred to :

Answer options

Q20:

Admission

Medium

common

The journal entries recorded for revaluation of assets and reassessment of liabilities are given here, find the correct :

(A) For increase in the value of an asset

Asset A/c Dr.

To Revaluation A/c

(B) For reduction in the value of an asset

Revaluation A/c Dr.

Asset A/c

(C) For increase in the amount of a liability

Liability A/c Dr.

To Revaluation A/c

(D) For recording in the amount of a unrecorded liability

Revaluation A/c Dr.

To Liability A/c

Choose the correct answer from the options given below:

Answer options

Q21:

Dissolution

Easy

common

After transferring liabilities like creditors and bills payables in the Realization Account, in the absence of any information regarding their payment, such liabilities are treated as:

Answer options

Q22:

Debentures

Medium

common

The following are the features of Debentures:

(A) The payment of interest is a charge on profits and is to be paid even if there is no profit.

(B) The debentures, which are issued for a specified period are repayable on the expiry of that period.

(C) If the debentures are generally secured, they carry a fixed or floating charge over the assets of the company.

(D) Debentures can not be converted into shares in any case.

Choose the correct answer from the options given below:

Answer options

Q23:

Admission

Easy

common

A new partner can be admitted:

Answer options

Q24:

Dissolution

Easy

common

A firm is dissolved compulsorily in the following cases:

(A) when all the partners or all but one partner, become insolvent, rendering them incompetent to sign a contract

(B) when the business of the firm becomes illegal

(C) when the business of the firm is earning a large amount of profit.

(D) when some event has taken place which makes it unlawful for the partners to carry on the business of the firm in partnership

Choose the correct answer from the options given below:

Answer options

Q25:

Dissolution

Easy

common

In case of dissolution of a firm, the firm ceases to conduct business and has to settle its accounts. The assets of the firm, including any sum contributed by the partners to make up deficiencies of capital, shall be applied in the following manner and order:

(A) In paying to each partner proportionately what is due to him on account of capital.

(B) The residue, if any, shall be divided among the partners in their profit sharing ratio.

(C) In paying the debts of the firm to third parties.

(D) In paying each partner proportionately what is due to him/her from the firm for advances as distinguished from capital (i.e. partner loan).

Choose the correct answer from the options given below:

Answer options

Q26:

Dissolution

Easy

common

When a partnership firm is being dissolved, the private property of any partner shall be applied first, in payment of __________ and the surplus, if any, may be utilised for payment of __________, in case the firm's liabilities exceed the firm's assets.

Answer options

Q27:

Accounting

Easy

common

Which of the following will lead to the Reconstitution of a partnership Firm?

(A) Admission of a new partner

(B) Change in the profit sharing ratio among the existing partners

(C) Retirement of an existing partner

(D) Death of a partner

Choose the correct answer from the options given below:

Answer options

Q28:

Admission

Medium

common

The capital of the firm is Rs. 1,00,000 and normal rate of return is 8%. If the average profits for last 5 years are Rs. 12,000 then find goodwill of the firm based on 3 years' purchase of super profits.

Answer options

Q29:

Admission

Easy

common

Which among the following is Not the method of valuation of goodwill:

Answer options

Q30:

Dissolution

Easy

common

Romesh took over stock at Rs.8,100, which is 10% less then its book value. The book value of the stock was .........

Answer options

Q31:

Debentures

Easy

common

Issue of 8% debentures is shown under which sub-head in the balance sheet of a company:

Answer options

Q32:

Debentures

Easy

common

Which among the following debentures are the debentures which can be transferred by way of delivery and the company does not keep any record of the debentures. Interest on the debentures is paid to a person who produces this interest coupon attached to such debentures?

Answer options

Q33:

Dissolution

Easy

common

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

Answer options

Q34:

Share Capital

Medium

common

Identify which of the following will be shown in Notes to Accounts under SHARE CAPITAL head :-

Answer options

Q35:

Share Capital

Medium

common

Amount of discount allowed on the reissue of forfeited shares cannot exceed the amount that has:-

Answer options

Q36:

Dissolution

Easy

common

Partner's current accounts are transferred to respective Partners' _____________________.

Answer options

Q37:

Share Capital

Medium

common

Match List-I with List-II

List-IList-II
(A) For the amount of calls received in advance(I) Calls in Advance A/c   Dr.
       To Particular Call A/c
(B) Interest on Calls in Advance is due(II) Sundry Shareholder's A/c   Dr.
       To Bank A/c
(C) The amount of 'Calls in Advance' is adjusted(III) Bank A/c   Dr.
       To Calls in Advance A/c
(D) Interest on Calls in Advance, For Interest Paid(IV) Interest on Calls in Advance A/c   Dr.
       To Sundry Shareholder's A/c

Choose the correct answer from the options given below:

Answer options

Q38:

Debentures

Easy

common

When debentures are issued at par and are redeemable at a premium, the loss on such issue is debited to :

Answer options

Q39:

Admission

Medium

common

Naveen and Ghanshyam are partners in a firm sharing profits in the ratio of 3:2. They admitted Daniel as a new partner for 1/4 share. The new profit sharing ratio between Naveen and Ghanshyam will be 2:1. Calculate the New profit sharing ratio of Naveen, Ghanshyam and Daniel :

Answer options

Q41:

Retirement/Death

Medium

common

In the case of a re-constitution of a partnership firm, if the value of decrease in investment exceeds the Investment Fluctuation Fund, the :-

Answer options

Q42:

Retirement/Death

Medium

common

Naveen, Suresh and Tarun are partners, sharing profits and losses in the ratio of 5:3:2. Suresh retires from the firm and his share was acquired by Naveen and Tarun in the ratio of 2:1. Calculate the new share of profit :

Answer options

Q43:

Share Capital

Easy

common

Shares can be forfeited :

Answer options

Q44:

Admission

Medium

common

Match List-I with List-II

List–IList–II
(A) Existing Goodwill(I) no entry passed.
(B) Goodwill premium(II) Calculated on the basis of capital of partners.
(C) Goodwill paid privately(III) Written off.
(D) Hidden goodwill(IV) credited to sacrificing partner.

Choose the correct answer from the options given below:

Answer options

Q45:

Admission

Medium

common

The profits of the firm for the five years are as follows:

YearProfit (Rs.)
2012-1320,000
2013-1424,000
2014-1530,000
2015-1625,000
2016-1718,000

Calculate the value of goodwill on the basis of three years' purchase of weighted average profits based on weights of the last five years as 1,2,3,4 and 5 respectively.

Answer options

Q46:

Cash Flow

Easy

Financial Statements

Match List-I with List-II

List–IList–II
(A) Cash Inflows & Operating Activities(I) Proceeds from issue of preference or equity shares
(B) Cash Inflows & Financing Activities(II) Receipt from royalties, fees, commission and other revenues
(C) Cash Inflows & Investing Activities(III) Payment of Taxes
(D) Cash Outflows & Operating Activities(IV) Proceeds from disposal of Machinery

Choose the correct answer from the options given below:

Answer options

Q47:

Ratios

Easy

Financial Statements

Match List-I with List-II

List–IList–II
(A) Profitability Ratios(I) This refers to the ratios that are calculated for measuring the efficiency of operations of a business based on effective utilization of resources.
(B) Activity Ratios(II) The ability of a business to pay the amount due to stakeholders as and when it is due.
(C) Liquidity Ratios(III) The ability to meet its contractual obligations towards stakeholders, particularly towards external stakeholders.
(D) Solvency Ratios(IV) It refers to the analysis of profits in relation to revenue from operations or funds (or assets) employed in the business.

Choose the correct answer from the options given below:

Answer options

Q48:

Cash Flow

Easy

Financial Statements

Arrange the following in correct sequence of appearance in a cash flow statement

(A) Cash and cash equivalents at the end

(B) Cash flows from operating activities

(C) Cash flows from investing activities

(D) Cash flows from financing activities

Choose the correct answer from the options given below:

Answer options

Q49:

Cash Flow

Medium

Financial Statements

From the following information, calculate net cash inflow or net cash outflow from financing activities:

April 1, 2016March 31, 2017
Long-term LoansRs. 2,00,000Rs. 2,50,000

During the year, the company repaid a loan of Rs. 1,00,000.

Answer options

Q50:

Cash Flow

Medium

Financial Statements

Which transaction among the following is NOT disclosed in the cash flow statement due to the non-cash nature of the transaction.

Answer options

Q51:

Spreadsheet

Easy

Computerised Accounting

What would be the syntax for "IF" Function to get a result of Pass or Fail If Passing criteria is 40% and above. Further percentage of marks is available in Cell A1?

Answer options

Q52:

Spreadsheet

Easy

Computerised Accounting

Array formulas are enclosed between __________.

Answer options

Q53:

Spreadsheet

Easy

Computerised Accounting

PV function returns the present value of an investment. The syntax of the function is PV (rate, nper, pmt, fv, type). What does NPER stands for?

Answer options

Q54:

Spreadsheet

Easy

Computerised Accounting

The error ##### occurs when?

(A) Column is not wide enough

(B) Negative date

(C) Negative time

(D) Row is not wide enough

Choose the correct answer from the options given below:

Answer options

Q55:

Overview

Easy

Computerised Accounting

What does OLE stands for?

Answer options

CUET Accountancy 2025 3 June Shift 1 Past Year Question Paper

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