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CUET Accountancy 2025 PYQs4 June Shift 2. Free, no login required.

Partnership

past year questions, CUET Accountancy 2025 4 June Shift 2

Accounting

past year questions, Partnership, CUET Accountancy 2025 4 June Shift 2

Easy

common

Choose the correct statement if a partnership deed is not present.

Solution

✅ Correct Option: 4

When a partnership deed is absent or silent on certain matters, the provisions of the Indian Partnership Act, 1932 apply automatically.

According to Section 13 of the Act, in the absence of a partnership deed:

Interest on Capital → Not allowed (No interest shall be paid on capital contributed by partners)

Interest on Drawings → Not charged (Partners can withdraw money without any interest being charged)

Salary/Remuneration to Partners → Not allowed (Partners cannot claim any salary or commission for their work)

Profit and Loss Sharing Ratio → Equal sharing (All partners share profits and losses in equal proportion, regardless of their capital contribution)

In this question, only Option 4 is correct because the Act specifically provides that partners shall share profits and losses equally when there is no agreement to the contrary.

For example: If there are 3 partners A, B, and C with capital contributions of ₹50,000, ₹30,000, and ₹20,000 respectively, and no partnership deed exists, they will still share profits equally in the ratio 1:1:1 (not in their capital ratio of 5:3:2).

Related questions:

2025: 27 May Shift 2

J and K are partners sharing profits and losses in the ratio of 3:1. Their capitals at the end of the financial year 2024-2025 were Rs. 1,50,000 and Rs. 75,000 respectively. During the year 2024-2025, J’s drawings were Rs. 20,000 and the drawings of K were Rs. 5,000, which had been duly debited to partner’s capital accounts. Profit before charging interest on capital for the year was Rs. 16,000. The same had also been credited in their profit sharing ratio. K had brought additional capital of Rs. 16,000 on October 1, 2024. Calculate interest on capital @ 12% p.a. for the year 2024-2025 for J.

2026: 11 May Shift 2

The clauses of partnership deed:

2026: 13 May Shift 2

A, B and C are partners. They agreed to change their existing profit sharing ratio from 3:2:1 to 1:1:1. An unrecorded asset of Rs. 50,000 was identified. For this unrecorded asset:

2025: 3 June Shift 1

Match List-I with List-II

List–I (Events)List–II (Result)
(A) Profit share(I) Gaining ratio.
(B) Admission of Partners(II) Different concept
(C) Retirement of a partner.(III) Equally among partners
(D) Dissolution of firm and partnership.(IV) Sacrifice ratio.

Choose the correct answer from the options given below:

2025: 24 May Shift 1

By virtue of which section of the Indian Partnership Act 1932, partnership is defined as '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'.

2026: 13 May Shift 2

Select the correct statements from the following related to the partnership.

(A) Rent paid to a partner is always an appropriation of profit.

(B) Interest on Loan from Partner is always a charge against profit.

(C) Interest on Partner's Capital is an appropriation of profit.

(D) Interest on Loan to Partner is not a charge against profit.

Choose the correct statements from the given options below :-

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