CUET Accountancy 2026 PYQs31 May Shift 1. Free, no login required.

In the case of issue of shares, the amount on any call should not exceed .......... of the face value of shares.

Negi, Bhagi, Tiwari and Chaman are partners in a firm sharing profits and losses in the ratio of 2 : 1 : 2 : 1. On Negi's retirement, the goodwill of the firm is valued at Rs. 36,000. Bhagi, Tiwari and Chaman decided to share future profits equally. What will be the journal entry for the treatment of goodwill without opening 'Goodwill Account' in this case?

When shares are forfeited, the amount already received is credited to:

Which of the following are credited to the Realisation Account?

A. Assets taken over by a partner

B. Liabilities paid by the firm

C. Sale of assets

D. Realisation of Unrecorded assets

Choose the correct answer from the options given below:

At the time of admission of new partner Vasu, old partners Paresh and Prabhat had debtors of Rs. 6,20,000 and a provision for doubtful debts of Rs. 20,000 in their books. As per terms of admission, assets were revalued, and it was found that debtors worh Rs. 15,000 had turned bad and hence should be written off. Which journal entry reflects the correct accounting treatment of the above situation?

Arrange the steps in order at the time of retirement of a partner.

A. Transfer of retired partner share of profit.

B. Calculation of goodwill.

C. Settlement of retiring partner capital.

D. Revaluation of assets & liabilities

Choose the correct answer from the options given below:

On the admission of a new partner increase in the value of assets is debited to:

Shubham and Gill are partners in a firm sharing profits in the ratio of 5:3. They admit Hardik as a new partner for 1/7 share in the profit. The new profit sharing ratio will be 4:2:1. What will be the sacrificing ratio of Shubham and Gill?

At the time of admission of a new partner, goodwill is adjusted because:

Authorised capital is the amount of share capital which a company is authorised to issue by its:

Ambar, Bimla and Tara are partners in a firm sharing profits in the ratio of 3:2:1. Adnan is admitted into the firm for 1/4 share in profits, which he gets as 1/8 from Ambar and 1/8 from Bimla. The total capital of the firm is agreed upon as Rs. 1,20,000 and Adnan is to bring in cash equivalent to 1/4 of this amount as his capital. The capitals of other partners are also to be adjusted in the ratio of their respective shares in profits. The capitals of Ambar, Bimla and Tara after all adjustments are Rs. 40,000, Rs. 35,000 and Rs. 30,000 respectively. Calculate the cash brought in or paid to each partner.

Choose the correct answer from the options given below:

Which of the following is not a feature of partnership ?

Navya and Nitya are partners sharing profits in the ratio 3 : 2, with capitals of ₹1,00,000 and ₹50,000 respectively. Hardik is admitted for a 1/5 share in profits, and is to bring in capital proportionate to his share, based on the combined capital of the firm after his admission. The amount Hardik will contribute as capital is:

The books of a business showed that the firm's capital employed on December 31, 2025 was Rs. 7,00,000 and the profits for the last five years were: 2021-Rs. 80,000; 2022-Rs. 85,000; 2023-Rs. 75,000; 2024- Rs. 80,000; 2025-Rs. 75,000. What will be the value of goodwill based on 3 years' purchase of the super profits of the business, given that the normal rate of return is 10%?

At the time of admission of a new partner, general reserve appearing in the old balance sheet is transferred to:

As per section 68 of The Companies Act, 2013, the company cannot buy their own shares from either of the following source:

On dissolution of a firm, creditors are transferred to:

The term Number of Years' Purchase means:

Which of the following provisions of Partnership Act is not relevant for accounting?

A reserve portion of uncalled capital (Reserve capital) can be called by company:

Arrange the steps in order to find out the value of goodwill based on Super Profit Method.

A. Calculate the super profit by deducting normal profit from the average profits

B. Calculate the normal profit on the firm's capital on the basis of the normal rate of return

C. Calculate the average profit

D. Calculate goodwill by multiplying the super profits by the given number of years' purchase

Choose the correct sequence from the options given below:

Match the LIST-I with LIST-II

Choose the correct answer from the options given below:

In the case of companies limited by shares, the liability of its members is:

Ram and Shyam are equal partners. Their capitals as on April 01, 2025 were Rs. 50,000 and Rs. 1,00,000 respectively. After the accounts for the financial year ending March 31, 2026 have been prepared, it is discovered that interest at the rate of 6 per cent per annum, as provided in the partnership deed has not been credited to the partners' capital accounts.

Choose the correct adjusting entry from the options given below:

Applications Supported by Blocked Amount (ASBA) is a process developed by........................to apply for subscribing to IPOs and Rights Issue etc. of securities.

Which of the following statements correctly describe equity shares?

A. Dividend rate is fixed

B. Carry voting rights

C. Paid dividend after preference dividend

D. Preferential right of capital payment

Choose the correct answer from the options given below:

Varun, Vansh and Vinay are partners sharing profits in the ratio of 5:3:2. They decided to share future profits in the ratio of 2:3:5. What will be the accounting treatment of Workmen Compensation Reserve existing in the balance sheet on that date when further information is not available?

Arrange the following in order in case of issue of debenture at discount.

A. Allotment due

B. Receipt of application money

C. Transfer of discount to Statement of Profit & Loss

D. Allotment of debentures

Choose the correct answer from the options given below:

In case of issue of shares, the 'minimum subscription' of capital cannot be less than .......... of the issued amount according to SEBI (Disclosure and Investor Protection) Guidelines, 2000.

Match the LIST-I with LIST-II

Choose the correct answer from the options given below:

Arrange the steps in order while preparing Realisation A/c in case of dissolution of a partnership firm.

A. Transfer of Assets & Liabilities

B. Sale of Assets

C. Payment of Liabilities

D. Transfer of Profit & Loss to Partners' Capital A/c

Choose the correct answer from the options given below:

Ram and Sita are partners in a firm sharing profits in the ratio of 4:1. On April 15, 2025 they admit Naarad as a new partner. On that date, there was a balance of Rs. 25,000 in general reserve and a debit balance of Rs. 10,000 in the profit and loss account of the firm. The journal entry regarding the adjustment of a profit or loss will be:

Which of the following statement is not true in case of fluctuating capital method under accounting for partnership?

Ajay, Bijoy and Payal are partners in a firm sharing profits in the ratio of 3:2:1. Sunil is admitted into the firm for 1/4 share in profits, which he gets as 1/8 from Ajay and 1/8 from Bijoy. The total capital of the firm is agreed upon as Rs. 1,20,000 and Sunil is to bring in cash equivalent to 1/4 of this amount as his capital. The new profit sharing ratio of Ajay, Bijoy, Payal and Sunil will be:

Match the LIST-I with LIST-II

Choose the correct answer from the options given below:

If any partner has advanced loan to the firm for the purpose of business, he/she shall be entitled to get an interest on the loan amount at the rate of ............. % per annum.

Reconstitution of a partnership firm takes place when:

Which of the following statements are correct in respect of share capital?

A. Share application money received in excess is adjusted towards allotment.

B. Calls in advance is shown under share capital

C. Securities premium can be used to issue fully paid bonus shares

D. Share forfeiture account is a capital gain

Choose the correct answer from the options given below:

In case of issue of shares, there must be an interval of at least ..........month (s) between the making of two calls unless otherwise provided by the articles of association of the company.

On the death of a partner, his share of loss in the firm till the date of his death is transferred to:

If the condition of minimum subscription in case of the issue of shares is not satisfied, and the company fails to repay the entire subscription amount within 15 days from the date of closure of the subscription list, the company (through its officers in default) is liable to pay the amount with interest at the rate of ................. as per Section 39 of the Companies Act, 2013.

In the case of a death of a partner in a partnership firm, the share of profit of the deceased partner is calculated on the basis of:

In the case of a One-Person Company, as per Rule 3 of the Companies (Incorporation) Rules, 2014, which of the following statement is not true?

When realisation expenses are paid by the firm on behalf of a partner, such expenses are debited to:

In case of admission of a new partner, Match List-I with List-II.

Choose the correct answer from the options given below:

Which of the following is not a cash outflows from operating activities?

Common Size Statement is also referred as:

Arrange the following component of a common size balance sheet as per schedule 3.

A. Shareholder's funds

B. Non-current liabilities

C. Current liabilities

D. Share Application money pending allotment

Choose the correct answer from the options given below:

Match the LIST-I with LIST-II

Choose the correct answer from the options given below:

Which of the followig is cash outflows from financing activities?

Arrange the sequence of data processing in computerised accounting.

A. Output Generation

B. Data Input

C. Processing of Data

D. Storage of Data

Choose the correct answer from the options given below:

Pie chart does not have more than ________ categories in Excel software.

Which of the following chart element details the data values of the chart?

Match the LIST-I with LIST-II

Choose the correct answer from the options given below:

Which formula would result in TRUE if C4 is less than 10 and D4 is less than 100?