CUET Accountancy 2025 3 June Shift 2 PYQs

Which of the following is not the feature of partnership:

Match List-I with List-II | List-I | List-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:

Match List-I with List-II | List-I | List-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:

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:

Which among the following is NOT true?

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

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

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?

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.

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:

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.

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.

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.

Match List-I with List-II | List-I | List-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:

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

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

Which statement among the following is NOT true about Goodwill?

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

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

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 :-

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 :-

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:

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

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

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:

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:

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 :-

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

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

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

Which market conditions enable firms to earn higher profits?

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:

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:

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

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

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

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 :-

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 :-

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.

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.

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?

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

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.

The profit on the reissue of forfeited shares is transferred to

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:

Calculate Gross profit ratio from following info | Revenue from operations | 3,40,000 | |---|---| | Cost of revenue from operations | 1,20,000 |

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:

Compute Earning per share from following information | Net profit after tax but before dividend | 1,75,000 | |---|---| | Equity shares of Rs. 10 each | Rs. 7,00,000 | | Dividend declared @15% | | | Market price of a share | Rs.13 |

Match List-I with List-II | List-I | List-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:

The current ratio is 2:1 The impact of goods purchased on credit will

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

Which Excel function is used to calculate depreciation under Straight Line Method (SLM)?

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

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

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