CUET Accountancy - While settlement of Accounts, what should be the order of application of assets of Firm (A) In paying the debts of the firm to the third parties (B) In paying to each partner proportionately what is due to him on account of capital (C) divided among the partners in their profit sharing ratio. (D) In paying each partner proportionately what is due to him/her from the firm for advances as distinguished from capital (i.e. partner's loan) Choose the correct answer from the options given below: | PYQs + Solutions

CUET Accountancy 2025 16 May Shift 1

Partnership

Easy

(A), (D), (C), (B)

(A), (D), (B), (C)

(B), (A), (D), (C)

(A), (B), (D), (C)

✅ Correct Option: 2

Related questions:

15 May Shift 1

According to which section of the partnership Act 1932, the dissolution of a partnership between all the partners of a firm is called the dissolution of the firm?

22 May Shift 2

Which of the following are the ways for the dissolution of a firm?

(A) Dissolution by Notice

(B) Dissolution by agreement

(D) Dissolution by not terminating business

Choose the correct answer from the options given below:

29 May Shift 2

Stock at the time of dissolution was appearing in books at Rs 50,000. Half of the stock was sold at a discount of 20% and the remaining was taken over by one of the partners at a 10% discount. What amount was received in cash at the time of realization of stock.

CUET Accountancy 2025 16 May Shift 1 PYQs

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