Q1:
22 May Shift 2
Partnership > Admission
Easy
common
When a new partner brings his share of goodwill in cash, the amount is credited to:
Correct Answer
Option 1
Correct Answer
CUET Accountancy 2025 22 May Shift 2 PYQs
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Q2:
22 May Shift 2
Company Accounts > Debentures
Easy
common
The debentures which are payable on the expiry of the specific period are
Correct Answer
Option 2
Correct Answer
Q3:
22 May Shift 2
Partnership > Admission
Easy
common
On the admission of a new partner, an increase in the value of assets is debited to:
Correct Answer
Option 2
Correct Answer
Q4:
22 May Shift 2
Partnership > Admission
Medium
common
In the case of guarantee of profit the Sequence of steps to be Followed are. (A) divide the profit in the given ratio. (B) prepare profit and loss appropriation account as usual. (C) deduct the deficiency from the guaranteeing partner and add the same to guaranteed partner. (D) find the deficiency. Choose the correct answer from the options given below:
Correct Answer
Option 3
Correct Answer
Q5:
22 May Shift 2
Partnership > Dissolution
Easy
common
On the dissolution of a firm, creditors is transferred to:
Correct Answer
Option 3
Correct Answer
Q6:
22 May Shift 2
Company Accounts > Share Capital
Easy
common
At the time of forfeiture, share capital account is
Correct Answer
Option 3
Correct Answer
Q7:
22 May Shift 2
Partnership > Admission
Medium
common
Abhiram and Ragini are partners sharing profits in the ratio of 3:2. They admit Arun a new partner for 1/5th share in the future profits of the firm which he gets equally from Abhiram and Ragini. Calculate the new profit sharing ratio of Abhiram, Ragini and Arun.
Correct Answer
Option 2
Correct Answer
Q8:
22 May Shift 2
Partnership > 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.
Correct Answer
Option 4
Correct Answer
Q9:
22 May Shift 2
Partnership > Dissolution
Easy
common
When a partnership firm is dissolved, final payment made to partners is transferred to
Correct Answer
Option 4
Correct Answer
Q10:
22 May Shift 2
Partnership > Dissolution
Medium
common
Which of the following indicate the situation of compulsory dissolution.
Correct Answer
Option 3
Correct Answer
Q11:
22 May Shift 2
Partnership > Accounting
Easy
common
'The business of a partnership concern may be carried on by all the partners or any of them acting for all.' Which feature of partnership is indicated by the above statement?
Correct Answer
Option 3
Correct Answer
Q12:
22 May Shift 2
Partnership > Dissolution
Medium
common
Match List-I with List-II | List-I | List-II | |---|---| | (Transaction) | (Relevant account) | | (A) Settlement of Partners Loan | (I) Credit side of Realization A/c | | (B) Transfer of liabilities | (II) Partner's Capital will be credited | | (C) Transfer of Assets | (III) Credit Side of Bank A/c | | (D) Remuneration payable to partner | (IV) Debit Side of Realization A/c | Choose the correct answer from the options given below:
Correct Answer
Option 2
Correct Answer
Q13:
22 May Shift 2
Partnership > Admission
Easy
common
The past average profits of a business works out at Rs. 20,000 and it is expected that such profits are likely to continue for another three years, the value of goodwill based on average profit method will be……. .
Correct Answer
Option 1
Correct Answer
Q14:
22 May Shift 2
Company Accounts > Share Capital
Easy
common
It is to be noted that 'minimum subscription' of capital cannot be less than ……… of the issued amount according to SEBI Guidelines (Disclosure and Investor Protection)
Correct Answer
Option 2
Correct Answer
Q15:
22 May Shift 2
Company Accounts > Share Capital
Medium
common
If a delay occurs beyond 8 days from the date of closure of the subscription list in refunding the amount received due to non-fulfilment of the criteria of minimum subscription, the company shall be liable to pay the amount with interest at the rate of:
Correct Answer
Option 4
Correct Answer
Q16:
22 May Shift 2
Partnership > Retirement/Death
Easy
common
Section 49, of the Indian Partnership Act 1932, deals with
Correct Answer
Option 4
Correct Answer
Q17:
22 May Shift 2
Partnership > Retirement/Death
Easy
common
The major difference between Retirement and Death is
Correct Answer
Option 1
Correct Answer
Q18:
22 May Shift 2
Partnership > Retirement/Death
Easy
common
Share of loss of deceased partner, calculated on the basis of previous years profit is
Correct Answer
Option 2
Correct Answer
Q19:
22 May Shift 2
Company Accounts > 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.
Correct Answer
Option 4
Correct Answer
Q20:
22 May Shift 2
Partnership > Dissolution
Easy
common
Which of the following are the ways for the dissolution of a firm? (A) Dissolution by Notice (B) Dissolution by agreement (C) Dissolution by court (D) Dissolution by not terminating business Choose the correct answer from the options given below:
Correct Answer
Option 1
Correct Answer
Q21:
22 May Shift 2
Partnership > Admission
Easy
common
While doing adjustment of partners capital, for the amount of capital to be brought in by the partner, the following entry will be passed:
Correct Answer
Option 4
Correct Answer
Q22:
22 May Shift 2
Partnership > Dissolution
Easy
common
The assets of the firm, including any sum contributed by the partners to make deficiencies of capital, shall be applied first for paying ………….
Correct Answer
Option 2
Correct Answer
Q23:
22 May Shift 2
Partnership > Accounting
Easy
common
For distribution of profits among the partners, the following account is debited to the partners:
Correct Answer
Option 1
Correct Answer
Q24:
22 May Shift 2
Company Accounts > Share Capital
Easy
common
Part of the subscribed capital which has been called up on the shares, i.e., what the company has asked the shareholders to pay is known as ……….
Correct Answer
Option 1
Correct Answer
Q25:
22 May Shift 2
Partnership > Retirement/Death
Medium
common
Naveen, Suresh and Tarun are partners sharing profits and losses in the ratio of 5:3:2. Tarun retires from the firm and his share was taken over by Naveen and suresh in the ratio 2:1. In such a case, the new profit sharing ratio will be:
Correct Answer
Option 2
Correct Answer
Q26:
22 May Shift 2
Partnership > Accounting
Medium
common
A and B are partners without any partnership deed. B has given loan of Rs.2,00,000 to the firm on 1st July 2023. B claim interest on loan @ 10% p.a. How much interest on loan will be paid to B for the year ending on 31st March 2024. ?
Correct Answer
Option 3
Correct Answer
Q27:
22 May Shift 2
Partnership > Accounting
Medium
common
A and B are partners in a firm with their fixed capital Rs 4,00,000 and 5,00,000 respectively. After preparation of accounts, it was found that interest on capital @ 10% p.a as provided by the partnership deed is omitted. In order to rectify the mistake, A's current account will be ………?
Correct Answer
Option 2
Correct Answer
Q28:
22 May Shift 2
Partnership > Dissolution
Medium
common
In case of dissolution Machine costing Rs 20,000, alongwith cash of Rs 5,000 were given to creditors of Rs 30,000 in full settlement of their claim. In this case Realisation A/c will be Debited with ………….
Correct Answer
Option 4
Correct Answer
Q29:
22 May Shift 2
Company Accounts > Share Capital
Easy
common
Arrange the following steps related to the issue of shares in proper sequence. (A) Allotment of Shares (B) Receipt of Applications (C) Issue of Prospectus (D) Share calls Choose the correct answer from the options given below:
Correct Answer
Option 4
Correct Answer
Q30:
22 May Shift 2
Partnership > Accounting
Easy
common
Which of the following is not a feature of a partnership deed?
Correct Answer
Option 1
Correct Answer
Q31:
22 May Shift 2
Partnership > Admission
Medium
common
As per AS-26 Intangible assets like goodwill should be written off.
Correct Answer
Option 3
Correct Answer
Q32:
22 May Shift 2
Partnership > Admission
Medium
common
L and M are partners sharing profits in the ratio 3:2. N is admitted as a partner for 1/5th of the share which is acquired from L. Goodwill of the firm is valued at Rs. 40,000 on N's admission. N will have to pay for Goodwill:
Correct Answer
Option 2
Correct Answer
Q33:
22 May Shift 2
Partnership > Dissolution
Medium
common
When realisation expenses are paid by the firm on behalf of a partner, such expenses are debited to
Correct Answer
Option 2
Correct Answer
Q34:
22 May Shift 2
Partnership > Dissolution
Medium
common
Ram, a partner, has been assigned the responsibility for realization of assets and settlement of liability for which he will be given remuneration of ₹ 10,000. He has to bear all the realization expenses. Actual realization expenses are 12,000. Journal Entry will be
Correct Answer
Option 1
Correct Answer
Q35:
22 May Shift 2
Partnership > Admission
Easy
common
Arrange the steps in proper sequence to calculate Goodwill through Super profits Method. (A) Calculate the normal profit on the firm's capital on the basis of the normal rate of return. (B ) Calculate the average profit. (C) Calculate the super profits by deducting normal profit from the average profits. (D) Multiply super profits by the given number of years purchased. Choose the correct answer from the options given below:
Correct Answer
Option 3
Correct Answer
Q36:
22 May Shift 2
Partnership > Dissolution
Medium
common
If the asset is taken over by the creditor in lieu of the amount due to him, then the journal entry will be:
Correct Answer
Option 3
Correct Answer
Q37:
22 May Shift 2
Partnership > Accounting
Easy
common
In the case of fixed capital method, following two accounts are maintained.
Correct Answer
Option 3
Correct Answer
Q38:
22 May Shift 2
Company Accounts > Share Capital
Easy
common
Which company must have at least two members?
Correct Answer
Option 3
Correct Answer
Q39:
22 May Shift 2
Partnership > Admission
Medium
common
Goodwill can also be ascertained by capitalising the super profit directly under which method?
Correct Answer
Option 4
Correct Answer
Q40:
22 May Shift 2
Partnership > Retirement/Death
Medium
common
Match List-I with List-II At the time of retirement following Transactions took place. Chose the correct treatment | List-I | List-II | |---|---| | (Particulars ) | (Treatment ) | | (A) Asset taken over by the partner | (I) Debit side of Revaluation A/C | | (B) Increase in Assets | (II) Written off amongst old partners in old ratio | | (C) Unrecorded Liability | (III) Debit side of Partners Capital A/C | | (D) Goodwill Appearing in books | (IV) Credit side of Revaluation A/C | Choose the correct answer from the options given below:
Correct Answer
Option 4
Correct Answer
Q41:
22 May Shift 2
Partnership > Admission
Medium
common
X and Y are partners sharing profits in the ratio 3:2. Z is entered into the business for 1/4th share of profits, with the guarantee of minimum profits of ₹ 30,000. Profit earned by the business for the year ended March 31st, 2024 is ₹ 1,00,000. Amount of deficiency, if any, will be borne by:
Correct Answer
Option 3
Correct Answer
Q42:
22 May Shift 2
Company Accounts > Debentures
Medium
common
Match List-I with List-II | List-I | List-II | |---|---| | (Particulars) | (Treatment) | | (A) Issue of debentures as collateral security | (I) Vendor Account will be credited | | (B) Issue of debenture to Public | (II) Debenture Suspense Account will be debited | | (C) Issue of debentures to vendor for purchase of an Asset | (III) Statement of Profit and Loss will be debited | | (D) Writting off Discount/Loss on Issue of Debentures | (IV) Bank Account will be debited | Choose the correct answer from the options given below:
Correct Answer
Option 3
Correct Answer
Q43:
22 May Shift 2
Company Accounts > Debentures
Easy
common
Debentures can be issued at (A) Par (B) Premium (C) Discount (D) Transaction value Choose the correct answer from the options given below:
Correct Answer
Option 2
Correct Answer
Q44:
22 May Shift 2
Partnership > Accounting
Easy
common
Which of the following are charges against profits? (A) Rent paid to partners (B) Interest on loan, paid to partners (C) Interest on Capital (D) Manager's commission Choose the correct answer from the options given below:
Correct Answer
Option 1
Correct Answer
Q45:
22 May Shift 2
Partnership > Accounting
Easy
common
Which of the following is not a part of capital account under the fixed Capital Method?
Correct Answer
Option 3
Correct Answer
Q46:
22 May Shift 2
Financial Statements > Ratios
Easy
Financial Statements
The ideal quick ratio is
Correct Answer
Option 2
Correct Answer
Q47:
22 May Shift 2
Financial Statements > Ratios
Easy
Financial Statements
The standard Debt-Equity ratio is
Correct Answer
Option 1
Correct Answer
Q48:
22 May Shift 2
Financial Statements > Ratios
Easy
Financial Statements
Match List-I with List-II: | List-I | List-II | |---|---| | (Ratio) | (Formula) | | (A) Current ratio | (I) Market Price of a share/EPS | | (B) Operating Margin Ratio | (II) Current Assets/Current Liabilities | | (C) Return on Capital employed | (III) 100 - Operating Ratio | | (D) Price earning ratio | (IV) Profit before interest and tax/Capital employed X 100 | Choose the correct answer from the options given below:
Correct Answer
Option 2
Correct Answer
Q49:
22 May Shift 2
Financial Statements > Nature/Structure
Easy
Financial Statements
Employee benefit Expenses doesn't include
Correct Answer
Option 3
Correct Answer
Q50:
22 May Shift 2
Financial Statements > Ratios
Easy
Financial Statements
Profit after tax and interest is Rs 1,60,000. Tax rate is 20% 10% long term borrowing is Rs 20,00,000 Find profit before tax and after interest
Correct Answer
Option 3
Correct Answer
Q51:
22 May Shift 2
Computerised Accounting > Overview
Easy
Computerised Accounting
Which of the following correctly represents the five foundational components of a Computerised Accounting System (CAS)?
Correct Answer
Option 2
Correct Answer
Q52:
22 May Shift 2
Computerised Accounting > Overview
Easy
Computerised Accounting
The feature of CAS that ensures better planning and access to vital information, leading to improved daily business operations, is:
Correct Answer
Option 2
Correct Answer
Q53:
22 May Shift 2
Computerised Accounting > Overview
Easy
Computerised Accounting
Why is proper classification of data necessary in a growing business using a Computerised Accounting System?
Correct Answer
Option 3
Correct Answer
Q54:
22 May Shift 2
Computerised Accounting > Overview
Easy
Computerised Accounting
Which of the following correctly represents the sequence of steps in the accounting cycle, as followed in both manual and computerised accounting systems?
Correct Answer
Option 2
Correct Answer
Q55:
22 May Shift 2
Computerised Accounting > Overview
Easy
Computerised Accounting
Which of the following is not a feature of CAS ?
Correct Answer
Option 3
Correct Answer
CUET Accountancy 2025 22 May Shift 2 - Past Year Questions
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