CUET Accountancy 2025 PYQs3 June Shift 1. Free, no login required.

Match List-I with List-II

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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

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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

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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?

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

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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.

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

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Identify the true statement in respect of Reserve Capital :-

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.

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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

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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?

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:

Nominal share capital is :

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

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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.

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

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

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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:

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.

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A new partner can be admitted:

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

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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).

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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.

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

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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.

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

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

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

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?

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

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

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

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

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

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 :

Interest on calls in arrears is charged according to "Table F" at :

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

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 :

Shares can be forfeited :

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

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.

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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

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

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

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

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?

Array formulas are enclosed between __________.

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?

The error ##### occurs when?

(A) Column is not wide enough

(B) Negative date

(C) Negative time

(D) Row is not wide enough

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What does OLE stands for?