CUET Accountancy - Arrange the following in correct order in which assets of the firm can be used in there settlement. (A) Residue shall be divided between the partners in their profit sharing ratio. (B) In paying the partners proportionately what is due to him/her on account of capital. (C) In paying the partners proportionately what is due to him/her from the firm for advances/loans. (D) In paying the debts of the firm to the third parties. Choose the correct answer from the options given below: | PYQs + Solutions

CUET Accountancy 2025 13 May Shift 2

Partnership

Easy

(A), (B), (C), (D)

(A), (C), (B), (D)

(B), (A), (D), (C)

(D), (C), (B), (A)

✅ Correct Option: 4

Related questions:

29 May Shift 2

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.

15 May Shift 1

Match List-I with List-II

List-I	List-II
(A) Payment of loans due to partners	(I) Realisation A/c Dr To Bank A/c
(B) For settlement of partners' accounts, in case their capital account shows a debit balance	(II) Bank A/c Dr. A/c To loan to partners
(C) For settlement of loan by a firm to a partner	(III) Bank A/c Dr. To Partner's Capital A/c
(D) For settlement of any unrecorded liability	(IV) Partner's Loan A/c Dr. To Bank A/c

Choose the correct answer from the options given below:

29 May Shift 2

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

CUET Accountancy 2025 13 May Shift 2 PYQs

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