Q1:
15 May Shift 2
Company Accounts > Debentures
Medium
Convertible debentures cannot be issued at a discount if:
Correct Answer
Option 2
Correct Answer
CUET Accountancy 2025 15 May Shift 2 PYQs
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Q2:
15 May Shift 2
Partnership > Accounting
Medium
Accounting treatment for a partnership firm is similar to that of a sole proprietorship business except the following aspects: (A) Distribution of Profit and Loss among the partners (B) Dissolution of Partnership Firm (C) Raising Capital through public offering (D) Adjustments for Wrong Appropriation of Profits in the Past Choose the correct answer from the options given below:
Correct Answer
Option 3
Correct Answer
Q3:
15 May Shift 2
Partnership > Dissolution
Medium
In which of the following case court can order dissolution of a partnership firm.
Correct Answer
Option 3
Correct Answer
Q4:
15 May Shift 2
Partnership > Admission
Easy
A and B are partners, they admit C into partnership. C was asked to pay Rs 2,50,000 though his share of capital was estimated Rs 2,00,000 only. for what Rs 50,000 extra was asked from C?
Correct Answer
Option 4
Correct Answer
Q5:
15 May Shift 2
Partnership > Accounting
Medium
Match List-I with List-II If the partnership deed is silent regarding the items provided in List-I | List-I | List-II | |---|---| | (A) Interest on Capital | (I) to be shared equally | | (B) Interest on Loan | (II) not charged | | (C) Interest on Drawings | (III) not payable | | (D) Sharing of Profits | (IV) @6% p.a. | Choose the correct answer from the options given below:
Correct Answer
Option 3
Correct Answer
Q6:
15 May Shift 2
Partnership > Accounting
Medium
Which of the following are shown under capital account in case capital of partner's are fixed? (A) Fresh capital introduced (B) Permanent capital withdrawn (C) Interest on capital (D) Amount of capital brought down from the previous year Choose the correct answer from the options given below:
Correct Answer
Option 2
Correct Answer
Q7:
15 May Shift 2
Partnership > Dissolution
Medium
Which of the following will lead to dissolution of partnership firm?
Correct Answer
Option 2
Correct Answer
Q8:
15 May Shift 2
Company Accounts > Share Capital
Easy
Arrange following in correct sequence related to issue of shares (A) Letters of allotment, and letters of regret are sent (B) Prospective investors would make an application along with the application money (C) The company issues the prospectus to the public (D) Sebsequent installment are called Choose the correct answer from the options given below:
Correct Answer
Option 2
Correct Answer
Q9:
15 May Shift 2
Company Accounts > Share Capital
Easy
It is available only for the creditors on winding up of the company.
Correct Answer
Option 4
Correct Answer
Q10:
15 May Shift 2
Company Accounts > Share Capital
Medium
High Land India Ltd. invited applications for 50,000 Shares of Rs. 100 each per share. Applications were received for 70,000 shares and pro-rata allotment was made on the application for 50,000 shares. Rohan to whom 600 shares were allotted failed to pay the allotment money and his shares were forfeited immediately after allotment. Of the shares forfeited, 500 share were reissued as fully paid-up for Rs. 80 per share. Order to be followed for recording entries will be (A) Forfeiture of shares (B) Calculation of amount received on allotment (C) Adjustment of excess money received on application towards allotment (D) Reissue of shares Choose the correct answer from the options given below:
Correct Answer
Option 3
Correct Answer
Q11:
15 May Shift 2
Financial Statements > Nature/Structure
Medium
The manner prescribed in the revised schedule iii to the companies act, 2013, the particulars of balance sheet will appear in the order (A) Deferred tax assets (B) Deferred tax liabilities (C) Reserves and Surplus (D) Short-term provisions Choose the correct answer from the options given below:
Correct Answer
Option 4
Correct Answer
Q12:
15 May Shift 2
Partnership > Dissolution
Easy
In case of dissolution of a partnership firm, losses, including deficiencies of capital, shall be paid first out of ...............
Correct Answer
Option 2
Correct Answer
Q13:
15 May Shift 2
Computerised Accounting > Overview
Easy
Method of Codification should be :
Correct Answer
Option 4
Correct Answer
Q14:
15 May Shift 2
Company Accounts > Debentures
Medium
Which of the following will be included in case debenture's are issued to vendor at a discount for purchase consideration other than cash? (A) % Debenture A/c is credited (B) Vendor A/c is debited (C) Discount on Issue of Debenture A/c is debited (D) Securities Premium Reserve A/c is credited Choose the correct answer from the options given below:
Correct Answer
Option 3
Correct Answer
Q15:
15 May Shift 2
Partnership > Admission
Easy
Which of the following is not one of the method of valuation of goodwill?
Correct Answer
Option 3
Correct Answer
Q16:
15 May Shift 2
Financial Statements > Nature/Structure
Easy
Match List-I with List-II Match the statements with their respective Provisions/ other name | List-I | List-II | |---|---| | (A) AS-3 | (I) Statement of profit & loss | | (B) Schedule 3 of Companies Act | (II) Cash flow statement | | (C) Financial status of the undertaking | (III) Final accounts of company | | (D) Performance report | (IV) Balance sheet | Choose the correct answer from the options given below:
Correct Answer
Option 2
Correct Answer
Q17:
15 May Shift 2
Computerised Accounting > Spreadsheet
Easy
How many blank worksheets are shown when a new workbook is created?
Correct Answer
Option 3
Correct Answer
Q18:
15 May Shift 2
Partnership > Admission
Medium
In line with what is prescribed by the Accounting Standard, goodwill appearing in the balance sheet is written off at the time of
Correct Answer
Option 3
Correct Answer
Q19:
15 May Shift 2
Partnership > Accounting
Easy
Which of the following entry shows withdrawal of excess capital by partner's ?:
Correct Answer
Option 1
Correct Answer
Q20:
15 May Shift 2
Partnership > Dissolution
Easy
Neil, Kapil, Sunil started a furniture business in partnership. After one year of their operation, they started exporting Opium by keeping them in blank spaces between the furniture. As authorities came to know about the illegal business of the firm, they will compel them for .......
Correct Answer
Option 4
Correct Answer
Q21:
15 May Shift 2
Company Accounts > Share Capital
Medium
Where there is no articles of association of its own, which of the following provisions applies as per Table A.
Correct Answer
Option 3
Correct Answer
Q22:
15 May Shift 2
Financial Statements > Nature/Structure
Medium
Match List-I with List-II | List-I | List-II | |---|---| | (A) Accounting standard rules | (I) 2013 | | (B) Companies Act | (II) 1932 | | (C) Financial statement of company | (III) 2006 | | (D) Partnership Act | (IV) Schedule III | Choose the correct answer from the options given below:
Correct Answer
Option 1
Correct Answer
Q23:
15 May Shift 2
Financial Statements > Cash Flow
Medium
The order in which following items appear in the cash flow statement (A) Cash and cash equivalents at the end (B) Cash and cash equivalents at the beginning (C) Purchase of property (D) Proceeds from Issuance of Bonds Choose the correct answer from the options given below:
Correct Answer
Option 3
Correct Answer
Q24:
15 May Shift 2
Company Accounts > Share Capital
Easy
The amount on any call should not exceed ___ of the face value of shares.
Correct Answer
Option 2
Correct Answer
Q25:
15 May Shift 2
Partnership > Admission
Medium
If a new partner does not bring his share of goodwill in cash, the following treatment shall be made
Correct Answer
Option 2
Correct Answer
Q26:
15 May Shift 2
Company Accounts > Share Capital
Medium
Match List-I with List-II | List-I | List-II | |---|---| | (A) Calls in Advance A/c Dr. To Particular Call A/c | (I) For Interest due on Calls in Advance | | (B) Interest on Calls in Advance A/c Dr. To Sundry Shareholder's A/c | (II) For Interest Paid on Calls in Advance | | (C) Sundry Shareholder's A/c Dr. To Bank A/c | (III) Calls in advance adjusted with the call money due | | (D) Bank A/c Dr. To Calls in Arrears A/c To Interest on Calls in Arrears A/c | (IV) Calls in arrears received with interest | Choose the correct answer from the options given below:
Correct Answer
Option 3
Correct Answer
Q27:
15 May Shift 2
Partnership > Accounting
Easy
Net loss of the firm as per profit and loss account for the year ending March 31, 2024 amounted to Rs. 75,000. Yaduvanshi, Madhulika and Vidushi are partners, sharing profits and losses in the ratio of 2:2:1. Their fixed capitals on April 01, 2019 were: Yaduvanshi Rs. 5,00,000, Madhulika Rs. 4,00,000 and Vidushi Rs. 3,50,000. On the basis of the above information, pass the necessary journal entry
Correct Answer
Option 2
Correct Answer
Q28:
15 May Shift 2
Partnership > Dissolution
Easy
Which of the following event take place in the case of dissolution of a partnership firm
Correct Answer
Option 3
Correct Answer
Q29:
15 May Shift 2
Financial Statements > Ratios
Medium
The following ratios primarily measure risk: (A) Liquidity (B) Activity (C) Debts (D) Profitability Choose the correct answer from the options given below:
Correct Answer
Option 2
Correct Answer
Q30:
15 May Shift 2
Company Accounts > Share Capital
Medium
Money received against share warrants' is to be disclosed as a separate item under which head/sub-head
Correct Answer
Option 1
Correct Answer
Q31:
15 May Shift 2
Company Accounts > Share Capital
Easy
Zomato Ltd. decided to offer 10% of its issued capital to its employees at a price lower than its market value. The scheme adopted by Zomato Ltd. is
Correct Answer
Option 2
Correct Answer
Q32:
15 May Shift 2
Company Accounts > Share Capital
Medium
If the premium amount has not been received, in respect of the shares forfeited, the Securities Premium Reserve Account
Correct Answer
Option 2
Correct Answer
Q33:
15 May Shift 2
Partnership > Retirement/Death
Easy
L, N and T are partners sharing profits in the ratio of 5:3:2. If N retires, the gaining ratio of L & T would be.......
Correct Answer
Option 2
Correct Answer
Q34:
15 May Shift 2
Financial Statements > Nature/Structure
Easy
In order to bring clarity regarding the identity of ultimate owners of the company, disclosure of shares in the company held by each shareholder is required, holding more than _____ shares, specifying the number of shares held.
Correct Answer
Option 1
Correct Answer
Q35:
15 May Shift 2
Partnership > Accounting
Medium
Match List-I with List-II Match the accounts with their purpose | List-I | List-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:
Correct Answer
Option 4
Correct Answer
Q36:
15 May Shift 2
Partnership > Accounting
Medium
A and B are partners, sharing profits equally. Their fixed capitals were Rs 2,00,000 and Rs 3,00,000 respectively. Interest on capital as provided under partnership deed @10% p.a was omitted. Select the correct option from the following:
Correct Answer
Option 2
Correct Answer
Q37:
15 May Shift 2
Financial Statements > Ratios
Easy
On the basis of information given below the closing Inventory will be Opening inventory 20,000 average inventory 40,000
Correct Answer
Option 3
Correct Answer
Q38:
15 May Shift 2
Financial Statements > Nature/Structure
Medium
Which of the following items are included under Reserve and Surplus : (A) Security Premium reserve (B) Revaluation reserve (C) Share option outstanding account (D) Reserve Capital Choose the correct answer from the options given below:
Correct Answer
Option 1
Correct Answer
Q39:
15 May Shift 2
Company Accounts > Debentures
Medium
To write off Discount on issue of debentures following entry is made
Correct Answer
Option 3
Correct Answer
Q40:
15 May Shift 2
Financial Statements > Ratios
Medium
To calculate interest coverage ratio; steps followed will be Net Profit after tax Rs. 60,000; 12% Long-term debt 20,00,000; and Tax rate 40%. (A) Calculate Net Profit before tax (B) Divide Net Profit before Interest and Tax by Interest on long-term debt (C) Calculate Net profit before interest and tax (D) Calculate Interest on Long-term Debt Choose the correct answer from the options given below:
Correct Answer
Option 1
Correct Answer
Q41:
15 May Shift 2
Partnership > Retirement/Death
Easy
Comprehension:
Answer the questions from based on following paragraph
Preeti, Kabir and Shershah are partners in a firm. Kabir retires from the firm. On his date of retirement, Rs. 1,00,000 became due to him. Preeti and Shershah promised to pay him in four yearly equal installments plus interest @ 12% p.a. on the unpaid balance every year at the end of the year, to which he agreed.
The dues of Kabir is to be paid in 4 yearly installment.The amount of each installment will be
Correct Answer
Option 2
Correct Answer
Q42:
15 May Shift 2
Partnership > Retirement/Death
Medium
Comprehension:
Answer the questions from based on following paragraph
Preeti, Kabir and Shershah are partners in a firm. Kabir retires from the firm. On his date of retirement, Rs. 1,00,000 became due to him. Preeti and Shershah promised to pay him in four yearly equal installments plus interest @ 12% p.a. on the unpaid balance every year at the end of the year, to which he agreed.
The amount of interest payable at the end of fourth year will be
Correct Answer
Option 3
Correct Answer
Q43:
15 May Shift 2
Partnership > Retirement/Death
Medium
Comprehension:
Answer the questions from based on following paragraph
Preeti, Kabir and Shershah are partners in a firm. Kabir retires from the firm. On his date of retirement, Rs. 1,00,000 became due to him. Preeti and Shershah promised to pay him in four yearly equal installments plus interest @ 12% p.a. on the unpaid balance every year at the end of the year, to which he agreed.
Net Amount of installment payable at the end of 2nd year to Kabir is
Correct Answer
Option 2
Correct Answer
Q44:
15 May Shift 2
Partnership > Retirement/Death
Medium
Comprehension:
Answer the questions from based on following paragraph
Preeti, Kabir and Shershah are partners in a firm. Kabir retires from the firm. On his date of retirement, Rs. 1,00,000 became due to him. Preeti and Shershah promised to pay him in four yearly equal installments plus interest @ 12% p.a. on the unpaid balance every year at the end of the year, to which he agreed.
In case at the time of retirement of Kabir, his share of goodwill is valued at Rs 15,000, then what will be the total value of firm valued goodwill on his retirement?
Correct Answer
Option 3
Correct Answer
Q45:
15 May Shift 2
Partnership > Retirement/Death
Easy
Comprehension:
Answer the questions from based on following paragraph
Preeti, Kabir and Shershah are partners in a firm. Kabir retires from the firm. On his date of retirement, Rs. 1,00,000 became due to him. Preeti and Shershah promised to pay him in four yearly equal installments plus interest @ 12% p.a. on the unpaid balance every year at the end of the year, to which he agreed.
Gaining ratio among remaining partners Preeti and Shershah is
Correct Answer
Option 2
Correct Answer
Q46:
15 May Shift 2
Financial Statements > Analysis
Easy
Based on the information provided below, compute and answer
Comparative Balance Sheet of Amrit Limited
as at March 31, 2023 and March 31, 2024
(Rs. in Lakhs)
| Particulars | March 31, 2023 | March 31, 2024 | Absolute Increase (+) or Decrease (–) | Percentage Increase (+) or Decrease (–) |
| ----------------------------- | -------------- | -------------- | ------------------------------------- | --------------------------------------- |
| **I. Equity and Liabilities** | | | | |
| **Shareholders’ Funds** | | | | |
| Share capital | 15 | 20 | 5 | …… |
| Reserves and surplus | 14 | …… | (1) | (7.14) |
| **Non-current liabilities** | | | | |
| Long-term borrowings | …… | 19 | 3 | 18.75 |
| **Current liabilities** | | | | |
| Trade payables | 2 | 3 | 1 | 50 |
| **Total** | **47** | **55** | **8** | **17.02** |
| **II. Assets** | | | | |
| **Non-current assets** | | | | |
| Fixed assets | | | | |
| Tangible assets | 15 | …… | 5 | 33.33 |
| Intangible assets | 16 | 19 | 3 | 18.75 |
| **Current assets** | | | | |
| Inventories | 14 | 13 | (1) | (7.14) |
| Cash and Cash Equivalents | 2 | 3 | 1 | …… |
| **Total** | **47** | **55** | **8** | **17.02** |
The value of long term borrowings as on 31 March 2023
Correct Answer
Option 2
Correct Answer
Q47:
15 May Shift 2
Financial Statements > Analysis
Easy
Based on the information provided below, compute and answer
Comparative Balance Sheet of Amrit Limited
as at March 31, 2023 and March 31, 2024
(Rs. in Lakhs)
| Particulars | March 31, 2023 | March 31, 2024 | Absolute Increase (+) or Decrease (–) | Percentage Increase (+) or Decrease (–) |
| ----------------------------- | -------------- | -------------- | ------------------------------------- | --------------------------------------- |
| **I. Equity and Liabilities** | | | | |
| **Shareholders’ Funds** | | | | |
| Share capital | 15 | 20 | 5 | …… |
| Reserves and surplus | 14 | …… | (1) | (7.14) |
| **Non-current liabilities** | | | | |
| Long-term borrowings | …… | 19 | 3 | 18.75 |
| **Current liabilities** | | | | |
| Trade payables | 2 | 3 | 1 | 50 |
| **Total** | **47** | **55** | **8** | **17.02** |
| **II. Assets** | | | | |
| **Non-current assets** | | | | |
| Fixed assets | | | | |
| Tangible assets | 15 | …… | 5 | 33.33 |
| Intangible assets | 16 | 19 | 3 | 18.75 |
| **Current assets** | | | | |
| Inventories | 14 | 13 | (1) | (7.14) |
| Cash and Cash Equivalents | 2 | 3 | 1 | …… |
| **Total** | **47** | **55** | **8** | **17.02** |
What is the percentage change in share capital
Correct Answer
Option 2
Correct Answer
Q48:
15 May Shift 2
Financial Statements > Analysis
Easy
Based on the information provided below, compute and answer
Comparative Balance Sheet of Amrit Limited
as at March 31, 2023 and March 31, 2024
(Rs. in Lakhs)
| Particulars | March 31, 2023 | March 31, 2024 | Absolute Increase (+) or Decrease (–) | Percentage Increase (+) or Decrease (–) |
| ----------------------------- | -------------- | -------------- | ------------------------------------- | --------------------------------------- |
| **I. Equity and Liabilities** | | | | |
| **Shareholders’ Funds** | | | | |
| Share capital | 15 | 20 | 5 | …… |
| Reserves and surplus | 14 | …… | (1) | (7.14) |
| **Non-current liabilities** | | | | |
| Long-term borrowings | …… | 19 | 3 | 18.75 |
| **Current liabilities** | | | | |
| Trade payables | 2 | 3 | 1 | 50 |
| **Total** | **47** | **55** | **8** | **17.02** |
| **II. Assets** | | | | |
| **Non-current assets** | | | | |
| Fixed assets | | | | |
| Tangible assets | 15 | …… | 5 | 33.33 |
| Intangible assets | 16 | 19 | 3 | 18.75 |
| **Current assets** | | | | |
| Inventories | 14 | 13 | (1) | (7.14) |
| Cash and Cash Equivalents | 2 | 3 | 1 | …… |
| **Total** | **47** | **55** | **8** | **17.02** |
Value of reserves and surplus on 31 March 2024 stood at
Correct Answer
Option 3
Correct Answer
Q49:
15 May Shift 2
Financial Statements > Analysis
Easy
Based on the information provided below, compute and answer
Comparative Balance Sheet of Amrit Limited
as at March 31, 2023 and March 31, 2024
(Rs. in Lakhs)
| Particulars | March 31, 2023 | March 31, 2024 | Absolute Increase (+) or Decrease (–) | Percentage Increase (+) or Decrease (–) |
| ----------------------------- | -------------- | -------------- | ------------------------------------- | --------------------------------------- |
| **I. Equity and Liabilities** | | | | |
| **Shareholders’ Funds** | | | | |
| Share capital | 15 | 20 | 5 | …… |
| Reserves and surplus | 14 | …… | (1) | (7.14) |
| **Non-current liabilities** | | | | |
| Long-term borrowings | …… | 19 | 3 | 18.75 |
| **Current liabilities** | | | | |
| Trade payables | 2 | 3 | 1 | 50 |
| **Total** | **47** | **55** | **8** | **17.02** |
| **II. Assets** | | | | |
| **Non-current assets** | | | | |
| Fixed assets | | | | |
| Tangible assets | 15 | …… | 5 | 33.33 |
| Intangible assets | 16 | 19 | 3 | 18.75 |
| **Current assets** | | | | |
| Inventories | 14 | 13 | (1) | (7.14) |
| Cash and Cash Equivalents | 2 | 3 | 1 | …… |
| **Total** | **47** | **55** | **8** | **17.02** |
What is the value of tangible assets as on 31 March 2024
Correct Answer
Option 3
Correct Answer
Q50:
15 May Shift 2
Financial Statements > Analysis
Easy
Based on the information provided below, compute and answer
Comparative Balance Sheet of Amrit Limited
as at March 31, 2023 and March 31, 2024
(Rs. in Lakhs)
| Particulars | March 31, 2023 | March 31, 2024 | Absolute Increase (+) or Decrease (–) | Percentage Increase (+) or Decrease (–) |
| ----------------------------- | -------------- | -------------- | ------------------------------------- | --------------------------------------- |
| **I. Equity and Liabilities** | | | | |
| **Shareholders’ Funds** | | | | |
| Share capital | 15 | 20 | 5 | …… |
| Reserves and surplus | 14 | …… | (1) | (7.14) |
| **Non-current liabilities** | | | | |
| Long-term borrowings | …… | 19 | 3 | 18.75 |
| **Current liabilities** | | | | |
| Trade payables | 2 | 3 | 1 | 50 |
| **Total** | **47** | **55** | **8** | **17.02** |
| **II. Assets** | | | | |
| **Non-current assets** | | | | |
| Fixed assets | | | | |
| Tangible assets | 15 | …… | 5 | 33.33 |
| Intangible assets | 16 | 19 | 3 | 18.75 |
| **Current assets** | | | | |
| Inventories | 14 | 13 | (1) | (7.14) |
| Cash and Cash Equivalents | 2 | 3 | 1 | …… |
| **Total** | **47** | **55** | **8** | **17.02** |
Percentage change in cash and cash equivalents
Correct Answer
Option 1
Correct Answer
CUET Accountancy 2025 15 May Shift 2 - Past Year Questions
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