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CUET Accountancy 2025 PYQs13 May Shift 2. Free, no login required.

Partnership

past year questions, CUET Accountancy 2025 13 May Shift 2

Accounting

past year questions, Partnership, CUET Accountancy 2025 13 May Shift 2

Easy

Which section of the Partnership Act 1932, defines partnership?

Solution

✅ Correct Option: 1

Section 4 of the Indian Partnership Act, 1932 defines partnership.

This section provides the complete definition: "Partnership is the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all."

The same section also defines related terms like "partner", "firm" and "firm name", which are essential for understanding partnership fundamentals.

Related questions:

2026: 6 June Shift 1

Suppose Gunjan and Himani are partners in a firm sharing profits and losses equally. During 2024-25, Gunjan withdrew Rs. 30,000 quarterly in the begining of each quarter. If interest is to be charged on drawings @ 8% p.a., the interest on drawings will be:

2025: 15 May Shift 1

Arrange the following in a sequence, in which they will be utilize for the payment of losses:

(A) Out of capital of partners.

(B) Out of profits.

(C) By the partners individually in their profit sharing ratio.

Choose the correct answer from the options given below:

2026: 23 May Shift 2

When partners' capital account is prepared under the fluctuating capital method, interest on drawings is shown under:

2025: 14 May Shift 2

Which statement is not true about Capital Accounts of Partner-

2025: 29 May Shift 2

Himanshu withdrew Rs.2,500 at the end of each month. The partnership deed provides for charging of interest on drawings @ 12% p.a. Calculate interest on Himanshu's drawings for the year ended March 31, 2017.

2025: 15 May Shift 2

Match List-I with List-II

Match the accounts with their purpose

List-IList-II
(A) Profit and Loss adjustment A/c(I) Changes in amount of capital
(B) Profit and loss appropriation A/c(II) Generally no change in amount of capital
(C) Fixed capital A/c(III) Errors and omissions found after preparation of final A/c
(D) Fluctuating capital method(IV) Extention of Profit & loss A/c

Choose the correct answer from the options given below:

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