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CUET Accountancy 2026 PYQs11 May Shift 1. Free, no login required.

Partnership

past year questions, CUET Accountancy 2026 11 May Shift 1

Accounting

past year questions, Partnership, CUET Accountancy 2026 11 May Shift 1

Medium

common

Match the LIST-I with LIST-II

LIST-ILIST-II
A.'Partnership is 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'.I.Companies Act, 2013
B.The Central government has prescribed the maximum number of partners in a firm to be 50.II.AS-26
C.Intangible asset is defined as an identifiable, non monetary, without physical existence and held for use in the production or supply of goods or services for rental to others or for administrative purposes.III.Partnership Act, 1932
D.It is a process to apply for subscribing to IPOs and Right Issue of securitiesIV.ASBA

Choose the correct answer from the options given below:

Solution

✅ Correct Option: 3

The definition of partnership comes from the Partnership Act, 1932 (III). The ceiling of 50 partners is prescribed under rules framed under the Companies Act, 2013 (I). Intangible assets are defined in AS-26 (II). Applications Supported by Blocked Amount is the ASBA process (IV).

Hence A-III, B-I, C-II, D-IV.

Related questions:

2025: 15 May Shift 1

What is the amount of profit to be credited to A's Capital account?

2025: 14 May Shift 2

Aashish withdrew Rs. 10,000 per month from the firm for his personal use during the year ending March 31, 2017. Calculate the interest on drawings, which is charged @8% p.a., when the amount is withdrawn at the beginning of each month .

2025: 22 May Shift 1

Yadu, Madhu and Vidu are partners, sharing profit and losses in the ratio of 2:2:1. Their fixed capitals on April 01, 2018 were:

Yadu Rs. 5,00,000, Madhu Rs. 4,00,000 and Vidu is 3,50,000.

As per the partnership deed, partners are entitled to interest on capital @5% p.a. and Yadu has to be paid a salary of Rs. 2000 per month. The net loss of the firm as per profit and loss account for the year ending March 31, 2019, amounted to Rs. 75,000. On the basis of the profit and loss appropriation account, Partners' distribution of loss would be:

2026: 12 May Shift 1

The clauses of partnership deed can be altered with the consent of:

2025: 29 May Shift 2

Himanshu withdrew Rs.2,500 at the end of each month. The partnership deed provides for charging of interest on drawings @ 12% p.a. Calculate interest on Himanshu's drawings for the year ended March 31, 2017.

2025: 15 May Shift 2

Match List-I with List-II

If the partnership deed is silent regarding the items provided in List-I

List-IList-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:

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