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CUET Accountancy 2026 PYQs21 May Shift 1. Free, no login required.

Company Accounts

past year questions, CUET Accountancy 2026 21 May Shift 1

Share Capital

past year questions, Company Accounts, CUET Accountancy 2026 21 May Shift 1

Easy

common

Capital reserves are created from _______.

Solution

✅ Correct Option: 1

Capital reserves arise out of capital profits, i.e. gains not earned in the ordinary course of business, such as profit on reissue of forfeited shares or on sale of fixed assets. Revenue profits go to general reserve, and securities premium is a statutory item shown separately rather than the general source of capital reserves.

Related questions:

2026: 31 May Shift 1

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

2025: 3 June Shift 2

When the directors opt to make a proportionate allotment to all applicants, the excess application money received is normally adjusted towards the amount due on allotment. In case, the excess application money received is more than the amount due on allotment of shares, such excess amount may either be:

2025: 14 May Shift 2

Match List-I with List-II

List-IList-II
(A) Authorised Capital(i) It is that part of the subscribed capital which has been called up on the shares.
(B) Issued Capital(ii) It is that part of the issued capital which has been actually subscribed by the public.
(C) Subscribed Capital(III) It is that part of the authorised capital which is actually issued to the public for subscription.
(D) Called up Capital(IV) The amount of share capital which a company is authorised to issue by its Memorandum of Association

Choose the correct answer from the options given below:

2025: 29 May Shift 2

When Calls in Advance Account is adjusted _______ is credited and _______ is debited.

2025: 3 June Shift 1

Shares can be forfeited :

2023: 28 May Shift 1

Match List - I with List - II.

List - IList - II
(A) Application money should be at least ____% of the face value of the share(I) 25%
(B) The amount of Call should not exceed ____% of the face value of the share(II) 90%
(C) Minimum subscription of capital cannot be less than ____ of the issued amount according to SEBI guidelines(III) 10%
(D) Interest charged on call-in-arrears is @ ______ p.a.(IV) 5%

Choose the correct answer from the options given below :

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CUET Accountancy Past Year Questions (Topic-Wise)