Q1:

Accounting

Easy

common

Which of the following is not the feature of partnership:

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

Q2:

Share Capital

Easy

common

Match List-I with List-II

List-IList-II
(A) Calls in Arrears(I) This is the case when applications for more shares of a company are received than the number offered to the public for subscription.
(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) Over Subscription(III) The amount due that shareholders fail to pay on allotment or on any of the calls.
(D) Under Subscription(IV) The amount sometimes received from the shareholders as a part or the whole of the amount of the calls not yet made.

Choose the correct answer from the options given below:

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

Q3:

Share Capital

Medium

common

Match List-I with List-II

List-IList-II
(A) Companies Limited by Shares(I) When the company's property is not sufficient to pay off its debts, the private property of its members can be used for the purpose.
(B) Companies Limited by Guarantee(II) Restricts the right to transfer its shares
(C) Unlimited Companies(III) If a member has paid the full amount of the shares, there is no liability on his part whatsoever for the debts of the company.
(D) Private Company(IV) The liability of its members is limited to the amount they undertake to contribute in the event of the company being wound up.

Choose the correct answer from the options given below:

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

Q4:

Dissolution

Medium

common

The following are the features of the Dissolution of Partnership:

(A) Assets and liabilities are revalued, and a new balance sheet is drawn.

(B) Economic relationships between partners continue, though in a changed form.

(C) The business is not terminated.

(D) The books of account are closed.

Choose the correct answer from the options given below:

Answer options

Q5:

Accounting

Easy

common

Which among the following is NOT true?

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

Q6:

Admission

Medium

common

Which among the following is NOT true for New Profit Sharing Ratio:

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

Q7:

Share Capital

Easy

common

What will be the journal entries when a call is due and the amount of the same is received?

Answer options
Option 2
Correct Answer
Explanation for 2025: 3 June Shift 2 ACC question 7

Q8:

Accounting

Easy

common

The Profit and Loss Appropriation Account is merely an extension of the Profit and Loss Account of the firm, which, among the following, is not shown in the Profit and Loss Appropriation Account?

Answer options
Option 2
Correct Answer
Explanation for 2025: 3 June Shift 2 ACC question 8

Q9:

Retirement/Death

Easy

common

P, Q and R share profits equally. At the time of P's retirement, goodwill appears in the books at Rs. 3000. P will be credited with ___ amount for Goodwill share.

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

Q10:

Debentures

Medium

common

The following are the features of Debenture:

(A) Debentures can be converted into shares if the terms of issue are so provided, and in that case these are known as convertible debentures.

(B) Debentures are generally secured and carry a fixed or floating charge over the assets of the company.

(C) The rate of interest on debentures may vary from year to year depending upon the profits of the company.

(D) The debentures are issued for a specified period and repayable on the expiry of that period.

Choose the correct answer from the options given below:

Answer options

Q11:

Share Capital

Easy

common

There must be an interval of how many months between the making of two calls unless otherwise provided by the articles of association of the company.

Answer options

Q12:

Debentures

Medium

common

In the case of __________ the difference between the nominal value and the issue price is treated as the amount of interest related to the duration of the debentures.

Answer options

Q13:

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

Q14:

Accounting

Medium

common

Match List-I with List-II

List-IList-II
(A) Bank (fresh capital introduced)(I) Debit side of Partner's Current Account
(B) Interest on drawings(II) Debit side of Partner's Capital Account
(C) Bank (permanent withdrawal of capital)(III) Credit side of Partner's Current Account
(D) Commission(IV) Credit side of Partner's Capital Account

Choose the correct answer from the options given below:

Answer options

Q15:

Admission

Easy

common

Ranjan and Anjan were Partners in a firm sharing profits and losses in 3:2. they admitted Sanjan for 1/4 share of profit on 1 Jan 2024.

Goodwill of the firm will be valued at 3 years purchase of average profit of last 4 years which were

2024: Rs. 80,000

2023: Rs. 1,40,000.

2022: Rs. 2,00,000

2021: Rs. 1,60,000

The goodwill of the reconstituted firm will be

Answer options

Q16:

Nature/Structure

Easy

common

Which among the following item does not appear on the balance sheet of a company?

Answer options

Q17:

Admission

Medium

common

Which statement among the following is NOT true about Goodwill?

Answer options

Q18:

Accounting

Easy

common

Which of the following account / statement is prepared to distribute the profit or loss among partners

Answer options

Q19:

Dissolution

Medium

common

At the time of the Dissolution of a Partnership Firm, which statement is not false :-

Answer options

Q20:

Admission

Easy

common

At the time of admission of a new partner, in case there is no workmen's compensation claim, the total amount of workmen's compensation fund will be :-

Answer options

Q21:

Admission

Medium

common

At the time of admission of a new partner, in the case of fixed capital method, if the sacrificing partner withdraw their amounts of goodwill (in full or in part), the following journal entry will be recorded :-

Answer options

Q22:

Share Capital

Medium

common

When the directors opt to make a proportionate allotment to all applicants, the excess application money received is normally adjusted towards the amount due on allotment. In case, the excess application money received is more than the amount due on allotment of shares, such excess amount may either be:

Answer options

Q23:

Retirement/Death

Easy

common

On the death of a partner, the deceased partner's capital account will not be credited with :-

Answer options

Q24:

Accounting

Easy

common

The clauses of a partnership deed can be altered with the consent of ________.

Answer options

Q25:

Retirement/Death

Medium

common

Rohan, Bharti and Leela are partners. On the retirement of Rohan, the goodwill already appears in the balance sheet at Rs. 24,000. The goodwill will be written-off:

Answer options

Q26:

Dissolution

Easy

common

Arrange the following in correct order in which assets of the firm can be used in the 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:

Answer options

Q27:

Dissolution

Easy

common

At the time of dissolution, if an asset is taken over by a partner, what journal will be recorded in the books of the firm :-

Answer options

Q28:

Accounting

Easy

common

Which of the following is the feature of Fixed Capital Method in Partnership Accounts:-

Answer options

Q29:

Debentures

Easy

common

Discount on issue of 8% debentures is shown in the balance sheet as

Answer options

Q30:

Share Capital

Medium

common

Identify the type of Share Capital, which is clearly shown in Notes to Accounts, but not included in the total of Notes to Account under SHARE CAPITAL head

Answer options

Q32:

Dissolution

Medium

common

Dissolution of a partnership firm may be ordered by the court on the following grounds:

(A) when a partner becomes insane.

(B) when a partner becomes permanently incapable of performing his duties as partner.

(C) when a partner acts in good faith

(D) when it is regarded just and equitable by the court.

Choose the correct answer from the options given below:

Answer options

Q33:

Admission

Medium

common

Hem and Nem are partners in a firm sharing profits in the ratio of 3:2. Their capitals were Rs. 80,000 and Rs. 50,000 respectively. They admitted Sam on Jan. 1, 2017 as a new partner for 1/5 share in the future profits. Sam brought Rs. 60,000 as his capital. Calculate the value of the goodwill of the firm if Sam brings his share of goodwill in Cash:

Answer options

Q34:

Dissolution

Easy

common

The dissolution of partnership may take place in any of the following ways except:

Answer options

Q35:

Dissolution

Medium

common

Which statement is not false, in respect of the dissolution of a partnership firm :-

Answer options

Q36:

Retirement/Death

Easy

common

On retirement/death of a partner, the retiring/deceased partner's capital account will be credited with:

Answer options

Q37:

Dissolution

Medium

common

At the time of dissolution of a firm, the Bank Loan was Rs. 60,000 which was paid by Bhuvan (a partner) along with one-year interest at 6 %, which journal entry will be passed in the books of the firm :-

Answer options

Q38:

Retirement/Death

Easy

common

At the time of retirement of a partner, the difference between the Old Profit Sharing Ratio and the New Profit Sharing Ratio is a negative outcome for a remaining partner. It indicates that :-

Answer options

Q39:

Admission

Medium

common

Das and Sinha are partners in a firm sharing profits in 4:1 ratio. They admitted Pal as a new partner for 1/4 share in the profits, which he acquired wholly from Das. Determine the new profit sharing ratio among Das, Sinha and Pal.

Answer options

Q40:

Admission

Medium

common

Vijay and Manohar share profits and losses in the ratio of 2:1. They admit Prakash as a partner with 1/4 share in profits with a guarantee that his share of profit will be at least Rs. 50,000. The net profit of the firm for the year ending March 31, 2015, was Rs. 1,60,000. Calculate the amount of profit Vijay will get.

Answer options

Q41:

Accounting

Easy

common

Neha contributed Rs. 30,000 and Solani Rs. 90,000 as capital. What will be Saloni's share in profits if the partnership agreement is silent?

Answer options

Q42:

Share Capital

Easy

common

The balance of the share forfeiture account is shown in the balance sheet under the item:

Answer options

Q43:

Accounting

Medium

common

Calculate interest on drawing if Ram withdrew Rs. 3,000 per month at the beginning of each month for the whole year, if interest on drawing is charged @ 9 % per annum.

Answer options

Q44:

Share Capital

Easy

common

The profit on the reissue of forfeited shares is transferred to

Answer options

Q45:

Share Capital

Easy

common

Arrange the following in order with respect to the issue of shares

(A) Application received

(B) Issue of prospectus

(C) Forfeiture of shares

(D) Allotment of Shares

(E) Reissue of forfeited shares

Choose the correct answer from the options given below:

Answer options

Q46:

Ratios

Easy

Financial Statements

Calculate Gross profit ratio from following info

Revenue from operations3,40,000
Cost of revenue from operations1,20,000
Answer options

Q47:

Ratios

Medium

Financial Statements

To assess the long term solvency of the business, which of the following ratios are needed?

(A) Interest coverage ratio

(B) Proprietary ratio

(C) Acid test ratio

(D) Debt to capital employed ratio

Choose the correct answer from the options given below:

Answer options

Q48:

Ratios

Easy

Financial Statements

Compute Earning per share from following information

Net profit after tax but before dividend1,75,000
Equity shares of Rs. 10 eachRs. 7,00,000
Dividend declared @15%
Market price of a shareRs.13
Answer options

Q49:

Ratios

Easy

Financial Statements

Match List-I with List-II

List-IList-II
(A) Measure of liquidity(I) Return on capital employed
(B) Measure of earning capacity(II) Inventory turnover ratio
(C) Measure of activity of firm's inventory(III) Profitability ratio
(D) Measure of Productive efficiency of funds(IV) Current ratio

Choose the correct answer from the options given below:

Answer options

Q50:

Ratios

Medium

Financial Statements

The current ratio is 2:1

The impact of goods purchased on credit will

Answer options

Q51:

Usage

Easy

Computerised Accounting

What is the formula for calculating Basic Pay Earned (BPE)?

Answer options

Q53:

Spreadsheet

Easy

Computerised Accounting

How is the Net Salary (NS) of an employee determined?

Answer options

Q54:

Spreadsheet

Easy

Computerised Accounting

What kind of data is best displayed with a bar chart?

Answer options

Q55:

Spreadsheet

Easy

Computerised Accounting

What is the difference between TODAY() and NOW() Function?

Answer options

CUET Accountancy 2025 3 June Shift 2 Past Year Question Paper

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