CUET Accountancy - Partnership - Admission | Free Questions

Q1:

4 June Shift 2

Partnership

>

Medium

Q1:

Rs. 82,500

Rs. 90,000

Rs. 82,000

Rs. 75,000

Correct Answer

Option 1

Correct Answer

Explanation →

Q2:

4 June Shift 2

Partnership

>

Medium

Q2:

Premium for Goodwill A/c Dr. 20,000

Outgoing Partners Capital A/c Dr. 30,000

To sacrificing partners capital A/c's Cr. 50,000

Premium for Goodwill A/c Dr. 20,000

Goodwill A/c Dr. 30,000

To sacrificing partners capital A/c's Cr. 50,000

Premium for Goodwill A/c Dr. 20,000

Incoming partners current A/c Dr. 30,000

To sacrificing partners capital A/c's Cr. 50,000

Premium for Goodwill A/c Dr. 20,000

Bank A/c Dr. 30,000

To sacrificing partners capital A/c's Cr. 50,000

Correct Answer

Option 3

Correct Answer

Explanation →

Q3:

4 June Shift 2

Partnership

>

Medium

Q3:

Rs. 1,10,000

Rs. 3,00,000

Rs. 38,000

Rs. 22,000

Correct Answer

Option 4

Correct Answer

Explanation →

Q4:

4 June Shift 2

Partnership

>

Easy

Q4:

Fictitious asset

Tangible asset

Liquid asset

Intangible asset

Correct Answer

Option 4

Correct Answer

Explanation →

Q5:

4 June Shift 2

Partnership

>

Medium

Q5:

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

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

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

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

Correct Answer

Option 2,4

Correct Answer

Explanation →

Q6:

4 June Shift 2

Partnership

>

Easy

Q6:

Assets account

Profit and Loss Adjustment account

Old partner's capital account

Profit and Loss account

Correct Answer

Option 1

Correct Answer

Explanation →

Q7:

4 June Shift 2

Partnership

>

Medium

Q7:

(A), (B) and (D) only

(A), (B) and (C) only

(A), (C) and (D) only

(B), (C) and (D) only

Correct Answer

Option 3

Correct Answer

Explanation →

Q8:

4 June Shift 2

Partnership

>

Medium

Q8:

Rs. 80,000

Rs. 20,000

Rs. 40,000

Rs. 45,000

Correct Answer

Option 3

Correct Answer

Explanation →

Q9:

4 June Shift 2

Partnership

>

Easy

Q9:

Less goodwill

More goodwill

No goodwill

Moderate goodwill

Correct Answer

Option 3

Correct Answer

Explanation →

Q10:

3 June Shift 2

Partnership

>

Medium

Q10:

How much of the share of profit for the new partner and how he will acquire it from the existing partners is decided mutually between the old partners and the new partner.

If nothing is specified as to how the new partner acquires his share from the old partners, it may be assumed that he gets it from them in their profit sharing ratio.

The new partner acquires his share from the old partners only according to their respective contribution, no any other way can be possible for profit sharing at any condition.

On admission of a new partner, the profit sharing ratio among the old partners will change, keeping in view their respective contribution to the profit sharing ratio of the incoming partner.

Correct Answer

Option 3

Correct Answer

Explanation →

Q11:

3 June Shift 2

Partnership

>

Easy

Q11:

Rs. 1,45,000

Rs. 4,33,000

Rs. 4,35,000

Rs. 1,35,000

Correct Answer

Option 3

Correct Answer

Explanation →

Q12:

3 June Shift 2

Partnership

>

Medium

Q12:

Goodwill is the value of the reputation of a firm in respect of the profits expected in future, over and above the normal profits.

Goodwill is the capitalized value attached to the differential profit capacity of a business.

Goodwill can exist when the firm does not earn super profits, means any firm that earns normal profits or is incurring losses has goodwill

Goodwill is an intangible asset.

Correct Answer

Option 3

Correct Answer

Explanation →

Q13:

3 June Shift 2

Partnership

>

Easy

Q13:

Credited to old partners' capital account in their old profit sharing ratio.

Debited to old partners' capital account in their old profit sharing ratio.

Credited to old partners' capital account in their new profit sharing ratio.

Debited to old partners' capital account in their new profit sharing ratio.

Correct Answer

Option 1

Correct Answer

Explanation →

Q14:

3 June Shift 2

Partnership

>

Medium

Q14:

Sacrificing Partners' Capital A/c Dr.

To Bank A/c

Sacrificing Partners' Current A/c Dr.

To Bank A/c

Gaining Partners' Current A/c Dr.

To Bank A/c

Gaining Partners' Capital A/c Dr.

To Bank A/c

Correct Answer

Option 2

Correct Answer

Explanation →

Q15:

3 June Shift 2

Partnership

>

Medium

Q15:

Rs 82,000

Rs 62,000

Rs 22,000

Rs 32,000

Correct Answer

Option Drop

Correct Answer

Explanation →

Q16:

3 June Shift 2

Partnership

>

Medium

Q16:

11:5:4

11:4:5

5:4:11

4:1:1:5

Correct Answer

Option 2

Correct Answer

Explanation →

Q17:

3 June Shift 2

Partnership

>

Medium

Q17:

Rs. 60,333

Rs. 73,333

Rs.50,300

Rs. 80,333

Correct Answer

Option 2

Correct Answer

Explanation →

Q18:

3 June Shift 1

Partnership

>

Medium

Q18:

When the new Partner brings goodwill in cash.

When the new partner does not bring goodwill in cash, partly or fully and goodwill does not exist in the book.

When the new partner does not bring goodwill in cash, partly or fully, and the value of goodwill appears in the books is not written off.

When the new partner does not bring goodwill in cash, partly or fully, and goodwill exists in the books, at new value of goodwill.

Correct Answer

Option 2

Correct Answer

Explanation →

Q19:

3 June Shift 1

Partnership

>

Easy

Q19:

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

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

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

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

Correct Answer

Option 3

Correct Answer

Explanation →

Q20:

3 June Shift 1

Partnership

>

Medium

Q20:

Rs 16,000 will be credited to Rajinder's capital A/c.

Rs 2,000 will be debited to Surender's capital A/c.

Rs 8,000 will be credited to Rajinder's capital A/c

Rs 4,000 will be credited to Surender's capital A/c

Correct Answer

Option 2

Correct Answer

Explanation →

Q21:

3 June Shift 1

Partnership

>

Medium

Q21:

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

(A), (B) and (D) only

(B), (A) and (C) only

(C), (B) and (D) only

Correct Answer

Option 2

Correct Answer

Explanation →

Q22:

3 June Shift 1

Partnership

>

Easy

Q22:

By the consent of the majority of partners.

By draw of lot

By the consent of all partners.

At the desire of any one partner.

Correct Answer

Option 3

Correct Answer

Explanation →

Q23:

3 June Shift 1

Partnership

>

Medium

Q23:

Rs.8,000.

Rs.12,000.

Rs.10,000.

Rs.11,000.

Correct Answer

Option 2

Correct Answer

Explanation →

Q24:

3 June Shift 1

Partnership

>

Easy

Q24:

Capitalisation Method

Super Profit Method

Normal Profit Method

Average Profit Method

Correct Answer

Option 3

Correct Answer

Explanation →

Q25:

3 June Shift 1

Partnership

>

Medium

Q25:

1:1:1

2:1:1

2:1:2

2:1:3

Correct Answer

Option 2

Correct Answer

Explanation →

Q26:

3 June Shift 1

Partnership

>

Medium

Q26:

(A) - (I), (B) - (II), (C) - (III), (D) - (IV)

(A) - (I), (B) - (III), (C) - (II), (D) - (IV)

(A) - (I), (B) - (II), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Correct Answer

Option 4

Correct Answer

Explanation →

Q27:

3 June Shift 1

Partnership

>

Medium

Q27:

Rs. 79,600

Rs. 60,500

Rs. 80,600

Rs. 69,600

Correct Answer

Option 4

Correct Answer

Explanation →

Q28:

2 June Shift 2

Partnership

>

Medium

Q28:

(A) - (I), (B) - (II), (C) - (III), (D) - (IV)

(A) - (I), (B) - (III), (C) - (II), (D) - (IV)

(A) - (I), (B) - (II), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Correct Answer

Option 4

Correct Answer

Explanation →

Q29:

2 June Shift 2

Partnership

>

Easy

Q29:

3:2

1:1.

2:3.

3:1

Correct Answer

Option 1

Correct Answer

Explanation →

Q30:

2 June Shift 2

Partnership

>

Easy

Q30:

The amount of his liabilities.

The amount of his assets.

The amount of his obligation.

The amount of his premium for goodwill.

Correct Answer

Option 4

Correct Answer

Explanation →

Q31:

2 June Shift 2

Partnership

>

Easy

Q31:

Rs.60,000.

Rs.20,000.

Rs.40,000.

Rs.50,000.

Correct Answer

Option 1

Correct Answer

Explanation →

Q32:

2 June Shift 2

Partnership

>

Medium

Q32:

It is a nominal account, and it is credited for the decrease in value of an asset.

It is a real account, and it is debited for the decrease in value of an asset.

It is a real account, and it is credited for the decrease in value of a liability.

It is a nominal account, and it is debited for the decrease in value of an asset.

Correct Answer

Option 4

Correct Answer

Explanation →

Q33:

2 June Shift 2

Partnership

>

Medium

Q33:

Debit of partner capital account.

Credit of partner capital account.

Debit of revaluation account.

Credit of revaluation account.

Correct Answer

Option 3

Correct Answer

Explanation →

Q34:

2 June Shift 2

Partnership

>

Medium

Q34:

5:2:3

5:3:2

2:3:5

4:3:3

Correct Answer

Option 2

Correct Answer

Explanation →

Q35:

2 June Shift 2

Partnership

>

Medium

Q35:

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

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

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

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

Correct Answer

Option 3

Correct Answer

Explanation →

Q36:

31 May Shift 1

Partnership

>

Medium

Q36:

3:5

2:3

3:2

2:5

Correct Answer

Option 2

Correct Answer

Explanation →

Q37:

31 May Shift 1

Partnership

>

Easy

Q37:

(A), (B) and (D) only

(A), (B) and (C) only

(A), (C) and (D) only

(B), (C) and (D) only

Correct Answer

Option 2

Correct Answer

Explanation →

Q38:

31 May Shift 1

Partnership

>

Medium

Q38:

Rs. 1,00,000

Rs. 2,20,000

Rs. 1,80,000

Rs. 1,50,000

Correct Answer

Option 3

Correct Answer

Explanation →

Q39:

31 May Shift 1

Partnership

>

Hard

Q39:

Rs. 2000 brought in

Rs. 1000 paid off.

Rs. 3000 paid off.

Rs. 2500 brought in.

Correct Answer

Option 3

Correct Answer

Explanation →

Q40:

31 May Shift 1

Partnership

>

Medium

Q40:

2:5

3:5

4:5

5:3

Correct Answer

Option 2

Correct Answer

Explanation →

Q41:

31 May Shift 1

Partnership

>

Medium

Q41:

(A) - (II), (B) - (I), (C) - (III), (D) - (IV)

(A) - (III), (B) - (I), (C) - (IV), (D) - (II)

(A) - (II), (B) - (I), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Correct Answer

Option 2

Correct Answer

Explanation →

Q42:

31 May Shift 1

Partnership

>

Medium

Q42:

Rs. 45000

Rs. 25000

Rs. 35000

Rs. 20000

Correct Answer

Option 1

Correct Answer

Explanation →

Q43:

31 May Shift 1

Partnership

>

Medium

Q43:

Rs. 50,000

Rs. 60,000

Rs. 30,000

Rs. 40,000

Correct Answer

Option 2

Correct Answer

Explanation →

Q44:

31 May Shift 1

Partnership

>

Medium

Q44:

4 : 3 : 3

4 : 3 : 5

3 : 4: 3

2 : 7 : 3

Correct Answer

Option 1

Correct Answer

Explanation →

Q45:

30 May Shift 2

Partnership

>

Easy

Q45:

old partners in old profit sharing ratio

all the partner in the new profit sharing ratio

old partners in new profit sharing ratio

old partner in the sacrificing ratio

Correct Answer

Option 1

Correct Answer

Explanation →

Q46:

30 May Shift 2

Partnership

>

Easy

Q46:

Nature of business

Market situation

Location and Address of Partners

Efficiency of management

Correct Answer

Option 3

Correct Answer

Explanation →

Q47:

30 May Shift 2

Partnership

>

Easy

Q47:

All partner's capital account

New partner's capital account

Old partner's capital account

Neither old nor new partner's account

Correct Answer

Option 3

Correct Answer

Explanation →

Q48:

30 May Shift 2

Partnership

>

Easy

Q48:

Profit and Loss Adjustment account

Assets account

Old partner's capital account

New Partner Capital Account

Correct Answer

Option 2

Correct Answer

Explanation →

Q49:

30 May Shift 2

Partnership

>

Easy

Q49:

Old Firm is Dissolved

old partnership firm is Dissolved

The Old Firm and Old Partnership are both Dissolved

Old Partnership is Reconstituted

Correct Answer

Option 4

Correct Answer

Explanation →

Q50:

30 May Shift 2

Partnership

>

Easy

Q50:

is more than the guaranteed amount

is less than the guaranteed amount

is equal to the guaranteed amount

is not guaranteed by anyone

Correct Answer

Option 2

Correct Answer

Explanation →

Q51:

30 May Shift 2

Partnership

>

Easy

Q51:

(A), (B) and (D) only

(A), (C) and (D) only

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

(B), (C) and (D) only

Correct Answer

Option 2

Correct Answer

Explanation →

Q52:

30 May Shift 2

Partnership

>

Medium

Q52:

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

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

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

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

Correct Answer

Option 4

Correct Answer

Explanation →

Q53:

30 May Shift 2

Partnership

>

Medium

Q53:

Rs.1,75,000

Rs.1,80,000

Rs.1,90,000

Rs.1,85,000

Correct Answer

Option 2

Correct Answer

Explanation →

Q54:

30 May Shift 2

Partnership

>

Medium

Q54:

3:5

2:5

3:6

4:7

Correct Answer

Option 1

Correct Answer

Explanation →

Q55:

30 May Shift 2

Partnership

>

Easy

Q55:

Rs. 70,000

Rs. 35,000

Rs. 50,000

Rs. 60,000

Correct Answer

Option 3

Correct Answer

Explanation →

Q56:

30 May Shift 1

Partnership

>

Medium

Q56:

5:3

3:5

3:4

3:7

Correct Answer

Option 2

Correct Answer

Explanation →

Q57:

30 May Shift 1

Partnership

>

Easy

Q57:

Cash / Bank A/c Dr.

To Premium for Goodwill A/c

Premium for Goodwill A/c Dr.

To Sacrificing Partners' Capital A/c

Cash / Bank A/c Dr.

Premium for Goodwill A/c Dr.

No journal entry is recorded.

To Sacrificing Partners' Capital A/c

Correct Answer

Option 4

Correct Answer

Explanation →

Q58:

30 May Shift 1

Partnership

>

Medium

Q58:

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

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

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

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

Correct Answer

Option 3

Correct Answer

Explanation →

Q59:

30 May Shift 1

Partnership

>

Easy

Q59:

Rs 16,54,400

Rs 17,54,400

Rs 18,54,400

Rs 17,00,400

Correct Answer

Option 2

Correct Answer

Explanation →

Q60:

30 May Shift 1

Partnership

>

Easy

Q60:

All partner's capital account

New partner's capital account

Old partner's capital account

Neither old nor new partner's account

Correct Answer

Option 3

Correct Answer

Explanation →

Q61:

30 May Shift 1

Partnership

>

Easy

Q61:

Profit and Loss Adjustment account

Assets account

Old partner's capital account

New Partner Capital Account

Correct Answer

Option 2

Correct Answer

Explanation →

Q62:

29 May Shift 2

Partnership

>

Medium

Q62:

59:46:40

46:11:59

11:46:59

59:46:35

Correct Answer

Option 4

Correct Answer

Explanation →

Q63:

29 May Shift 2

Partnership

>

Medium

Q63:

Rs 1,80,000

Rs 8,20,000

Rs 10,00,000

Rs 6,40,000

Correct Answer

Option 3

Correct Answer

Explanation →

Q64:

29 May Shift 2

Partnership

>

Easy

Q64:

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

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

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

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

Correct Answer

Option 4

Correct Answer

Explanation →

Q65:

29 May Shift 2

Partnership

>

Medium

Q65:

(A) - (I), (B) - (II), (C) - (III), (D) - (IV)

(A) - (I), (B) - (III), (C) - (II), (D) - (IV)

(A) - (I), (B) - (II), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Correct Answer

Option 2

Correct Answer

Explanation →

Q66:

29 May Shift 2

Partnership

>

Easy

Q66:

Hidden goodwill.

Average profit method

Super profit method .

Capitalisation method.

Correct Answer

Option 1

Correct Answer

Explanation →

Q67:

29 May Shift 2

Partnership

>

Easy

Q67:

(B) and (C) only

(A), (B) and (D) only

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

(B), (C) and (D) only

Correct Answer

Option 1

Correct Answer

Explanation →

Q68:

27 May Shift 2

Partnership

>

Medium

Q68:

(A), (B) and (D) only

(A), (B) and (C) only

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

(B), (C) and (D) only

Correct Answer

Option 2

Correct Answer

Explanation →

Q69:

27 May Shift 2

Partnership

>

Easy

Q69:

Capitalization Method

Adjusted Profit Method

Super Profit Method

Average Profit Method

Correct Answer

Option 2

Correct Answer

Explanation →

Q70:

27 May Shift 2

Partnership

>

Easy

Q70:

Rs. 16,20,500

Rs. 17,54,400

Rs. 18,24,800

Rs. 15,12,900

Correct Answer

Option 2

Correct Answer

Explanation →

Q71:

27 May Shift 2

Partnership

>

Easy

Q71:

Old partners in new profit sharing ratio

Old partners in old profit sharing ratio

All the partners in the new profit sharing ratio

All the partners in the old profit sharing ratio

Correct Answer

Option 2

Correct Answer

Explanation →

Q72:

27 May Shift 2

Partnership

>

Medium

Q72:

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

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

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

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

Correct Answer

Option 3

Correct Answer

Explanation →

Q73:

27 May Shift 2

Partnership

>

Easy

Q73:

Average Profits Method

Super Profits Method

Capitalisation Method

Value-addition Method

Correct Answer

Option 1

Correct Answer

Explanation →

Q74:

27 May Shift 2

Partnership

>

Easy

Q74:

Amount of his loan.

Amount of his capital and amount of his Premium for Goodwill.

Amount of his Premium of Goodwill.

Amount of his capital.

Correct Answer

Option 4

Correct Answer

Explanation →

Q75:

27 May Shift 2

Partnership

>

Medium

Q75:

Rs. 60,333

Rs. 73,333

Rs.50,300

Rs. 80,333

Correct Answer

Option 2

Correct Answer

Explanation →

Q76:

27 May Shift 2

Partnership

>

Easy

Q76:

New ratio.

Old ratio.

Gaining ratio.

Sacrificing ratio.

Correct Answer

Option 2

Correct Answer

Explanation →

Q77:

27 May Shift 2

Partnership

>

Medium

Q77:

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

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

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

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

Correct Answer

Option 2

Correct Answer

Explanation →

Q78:

27 May Shift 2

Partnership

>

Easy

Q78:

(A), (B) and (D) only

(A), (B) and (C) only

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

(B), (C) and (D) only

Correct Answer

Option 3

Correct Answer

Explanation →

Q79:

27 May Shift 2

Partnership

>

Easy

Q79:

Goodwill

Patent

Copyright

Capital

Correct Answer

Option 1

Correct Answer

Explanation →

Q80:

27 May Shift 1

Partnership

>

Easy

Q80:

Profit and Loss Adjustment account

Assets account

Revaluation Account

Old partner's capital account

Correct Answer

Option 2

Correct Answer

Explanation →

Q81:

27 May Shift 1

Partnership

>

Easy

Q81:

General reserve

Capital reserve

Vendors' account

Debenture redemption reserve

Correct Answer

Option 2

Correct Answer

Explanation →

Q82:

27 May Shift 1

Partnership

>

Easy

Q82:

Premium for goodwill account

New partners capital account

Old partners capital account

Bank account

Correct Answer

Option 1

Correct Answer

Explanation →

Q83:

27 May Shift 1

Partnership

>

Medium

Q83:

55,000

82,500

75,000

50,000

Correct Answer

Option 2

Correct Answer

Explanation →

Q84:

27 May Shift 1

Partnership

>

Easy

Q84:

Average profit method

Super profits method

Capitalisation method

Average super profit capitalization method

Correct Answer

Option 4

Correct Answer

Explanation →

Q85:

27 May Shift 1

Partnership

>

Easy

Q85:

Old partners in old profit sharing ratio

Old partners in new profit sharing ratio

All the partner in the new profit sharing ratio

New partner in old profit sharing ratio

Correct Answer

Option 1

Correct Answer

Explanation →

Q86:

27 May Shift 1

Partnership

>

Medium

Q86:

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

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

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

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

Correct Answer

Option 3

Correct Answer

Explanation →

Q87:

27 May Shift 1

Partnership

>

Medium

Q87:

(A), (B), (C)

(A), (C), (B)

(B), (A), (C)

(C), (B), (A)

Correct Answer

Option 4

Correct Answer

Explanation →

Q88:

27 May Shift 1

Partnership

>

Medium

Q88:

11:4:5

11:5:4

9:4:5

7:3:5

Correct Answer

Option 1

Correct Answer

Explanation →

Q89:

26 May Shift 2

Partnership

>

Easy

Q89:

Average profit method

Super profits method

Capitalisation method

Average super profit capitalization method

Correct Answer

Option 4

Correct Answer

Explanation →

Q90:

26 May Shift 2

Partnership

>

Medium

Q90:

55,000

82,500

75,000

50,000

Correct Answer

Option 2

Correct Answer

Explanation →

Q91:

26 May Shift 2

Partnership

>

Easy

Q91:

Rs. 20,000

Rs. 40,000

Rs. 60,000

Rs. 70,000

Correct Answer

Option 3

Correct Answer

Explanation →

Q92:

26 May Shift 2

Partnership

>

Easy

Q92:

Profit and Loss Adjustment account

Assets account

Revaluation Account

Old partner's capital account

Correct Answer

Option 2

Correct Answer

Explanation →

Q93:

26 May Shift 2

Partnership

>

Medium

Q93:

2:3

3:2

1:2

2:1

Correct Answer

Option 1

Correct Answer

Explanation →

Q94:

26 May Shift 2

Partnership

>

Medium

Q94:

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

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

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

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

Correct Answer

Option 3

Correct Answer

Explanation →

Q95:

26 May Shift 2

Partnership

>

Medium

Q95:

11:4:5

11:5:4

9:4:5

7:3:5

Correct Answer

Option 1

Correct Answer

Explanation →

Q96:

26 May Shift 2

Partnership

>

Medium

Q96:

Rs. 60,333

Rs. 73,333

Rs.50,300

Rs. 80,333

Correct Answer

Option 2

Correct Answer

Explanation →

Q97:

24 May Shift 1

Partnership

>

Medium

Q97:

(A) - (I), (B) - (II), (C) - (III), (D) - (IV)

(A) - (I), (B) - (III), (C) - (II), (D) - (IV)

(A) - (I), (B) - (II), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Correct Answer

Option 4

Correct Answer

Explanation →

Q98:

24 May Shift 1

Partnership

>

Medium

Q98:

12:8:5

12:7:6

12:11:10

11:10:8

Correct Answer

Option 1

Correct Answer

Explanation →

Q99:

24 May Shift 1

Partnership

>

Easy

Q99:

The old firm and old partnership are dissolved

The old firm is dissolved

The old partnership is reconstituted

The old partnership firm is dissolved

Correct Answer

Option 3

Correct Answer

Explanation →

Q100:

24 May Shift 1

Partnership

>

Easy

Q100:

Assets account

Profit and Loss Adjustment account

Old partner's capital account

Profit and Loss account

Correct Answer

Option 1

Correct Answer

Explanation →

Q101:

24 May Shift 1

Partnership

>

Easy

Q101:

Bank Account

Partners' Capital Accounts

Realisation Account

Partners' Loan Accounts

Correct Answer

Option 2

Correct Answer

Explanation →

Q102:

22 May Shift 2

Partnership

>

Easy

Q102:

Premium for goodwill account

Capital account of new partner

Cash/Bank account

Capital account of old partners

Correct Answer

Option 1

Correct Answer

Explanation →

Q103:

22 May Shift 2

Partnership

>

Easy

Q103:

Profit and loss adjustment account

Assets account

Old Partners Capital Account

All partners Capital account

Correct Answer

Option 2

Correct Answer

Explanation →

Q104:

22 May Shift 2

Partnership

>

Medium

Q104:

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

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

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

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

Correct Answer

Option 3

Correct Answer

Explanation →

Q105:

22 May Shift 2

Partnership

>

Medium

Q105:

5:2:3

5:3:2

2:3:5

4:3:3

Correct Answer

Option 2

Correct Answer

Explanation →

Q106:

22 May Shift 2

Partnership

>

Easy

Q106:

Rs.60,000.

Rs.20,000.

Rs.40,000.

Rs.50,000.

Correct Answer

Option 1

Correct Answer

Explanation →

Q107:

22 May Shift 2

Partnership

>

Easy

Q107:

Bills payable A/c Dr.

To Partners' Capital A/c

Partners' Capital A/c Dr.

To Cash / Bank A/c

Partners' Capital A/c Dr.

To Bills payable A/c

Cash / Bank A/c Dr.

To Partners' Capital A/c

Correct Answer

Option 4

Correct Answer

Explanation →

Q108:

22 May Shift 2

Partnership

>

Medium

Q108:

As early as possible.

As early as possible but not exceeding its estimated life.

As early as possible but not exceeding its estimated life, which normally should not be beyond 10 years

Within the useful life of asset, irrespective of number of years.

Correct Answer

Option 3

Correct Answer

Explanation →

Q109:

22 May Shift 2

Partnership

>

Medium

Q109:

Rs. 4000 to both L and M

Rs. 8000 to L

Rs. 8000 to M

Rs. 8000 to both L and M

Correct Answer

Option 2

Correct Answer

Explanation →

Q110:

22 May Shift 2

Partnership

>

Easy

Q110:

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

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

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

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

Correct Answer

Option 3

Correct Answer

Explanation →

Q111:

22 May Shift 2

Partnership

>

Medium

Q111:

Super Profit Method

Average Profit Method

Weighted Average Profit method

Capitalisation of Super Profit Method

Correct Answer

Option 4

Correct Answer

Explanation →

Q112:

22 May Shift 2

Partnership

>

Medium

Q112:

₹ 5,000 will be borne by X

₹ 5,000 will be borne by Y

₹ 5,000 will be borne by X and Y in 3:2 ratio

₹ 5,000 will be borne by X and Y in equal ratio

Correct Answer

Option 3

Correct Answer

Explanation →

Q113:

22 May Shift 1

Partnership

>

Easy

Q113:

New Profit Sharing Ratio

Gaining Ratio

Sacrificing Ratio

Old Ratio

Correct Answer

Option 3

Correct Answer

Explanation →

Q114:

22 May Shift 1

Partnership

>

Easy

Q114:

All the partners

New partner only

Old Partners Capital account

Old and new Partners

Correct Answer

Option 3

Correct Answer

Explanation →

Q115:

22 May Shift 1

Partnership

>

Easy

Q115:

(A), (B) and (D) only

(A), (B) and (C) only

(A), (C) and (D) only

(B), (C) and (D) only

Correct Answer

Option 3

Correct Answer

Explanation →

Q116:

22 May Shift 1

Partnership

>

Easy

Q116:

Revaluation account

Capital Reserve account

All Partners Capital account

Old Partners Capital account

Correct Answer

Option 4

Correct Answer

Explanation →

Q117:

22 May Shift 1

Partnership

>

Easy

Q117:

By the consent of the majority of partners.

By draw of lot

By the consent of all partners.

At the desire of any one partner.

Correct Answer

Option 3

Correct Answer

Explanation →

Q118:

22 May Shift 1

Partnership

>

Medium

Q118:

Rs 1,80,000

Rs 1,50,000

Rs 90,000

Rs 30,000

Correct Answer

Option 4

Correct Answer

Explanation →

Q119:

22 May Shift 1

Partnership

>

Medium

Q119:

9 : 7 : 4

8 : 8 : 4

6 : 10 : 4

10 : 6 : 4

Correct Answer

Option 1

Correct Answer

Explanation →

Q120:

16 May Shift 1

Partnership

>

Easy

Q120:

(A), (B) and (D) only

(A), (B) and (C) only

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

(A), (C) and (D) only

Correct Answer

Option 1

Correct Answer

Explanation →

Q121:

16 May Shift 1

Partnership

>

Easy

Q121:

Simple Average Method

Weighted Average Method

Super Profit method

Capitalization Method

Correct Answer

Option 4

Correct Answer

Explanation →

Q122:

16 May Shift 1

Partnership

>

Medium

Q122:

(A) - (III), (B) - (II), (C) - (I), (D) - (IV)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

(A) - (I), (B) - (IV), (C) - (III), (D) - (II)

(A) - (I), (B) - (III), (C) - (II), (D) - (IV)

Correct Answer

Option 2

Correct Answer

Explanation →

Q123:

16 May Shift 1

Partnership

>

Easy

Q123:

Old profit sharing ratio

New profit sharing ratio

Gaining Ratio

Sacrificing Ratio

Correct Answer

Option 1

Correct Answer

Explanation →

Q124:

16 May Shift 1

Partnership

>

Easy

Q124:

Tangible Asset

Intangible asset

Fictitious asset

Current asset

Correct Answer

Option 2

Correct Answer

Explanation →

Q125:

15 May Shift 2

Partnership

>

Easy

Q125:

Capital

Reserve

Liabilities

Goodwill

Correct Answer

Option 4

Correct Answer

Explanation →

Q126:

15 May Shift 2

Partnership

>

Easy

Q126:

Average profit method

Super profit method

Average Capitalisation weighted method

Capitalisation method

Correct Answer

Option 3

Correct Answer

Explanation →

Q127:

15 May Shift 2

Partnership

>

Medium

Q127:

Firm's dissolution

Revaluation of assets and liabilities

Firm's reconstitution

Preparation of Realisation A/c

Correct Answer

Option 3

Correct Answer

Explanation →

Q128:

15 May Shift 2

Partnership

>

Medium

Q128:

crediting old partners capital A/c in new ratio and debiting new partner capital A/c

crediting old partners capital A/c in sacrificing ratio and debiting new partner current A/c

crediting all partners in the new ratio and debiting premium account

no entry is made when new partner does not bring his share of goodwill in cash

Correct Answer

Option 2

Correct Answer

Explanation →

Q129:

15 May Shift 1

Partnership

>

Medium

Q129:

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

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

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

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

Correct Answer

Option 2

Correct Answer

Explanation →

Q130:

15 May Shift 1

Partnership

>

Easy

Q130:

Old firm is dissolved

Old firm and old partnership is dissolved

Old partnership is reconstituted

Firm will lose its existence

Correct Answer

Option 3

Correct Answer

Explanation →

Q131:

15 May Shift 1

Partnership

>

Easy

Q131:

Nature of Business

Location

Market situation

Efficiency of Management of non-competitive firms

Correct Answer

Option 4

Correct Answer

Explanation →

Q132:

15 May Shift 1

Partnership

>

Medium

Q132:

6:3:2

2:1:1

2:1:2

1:2:1

Correct Answer

Option 2

Correct Answer

Explanation →

Q133:

15 May Shift 1

Partnership

>

Easy

Q133:

Rs. 80,000

Rs. 2,40,000

Rs. 4,00,000

Rs. 2,60,000

Correct Answer

Option 1

Correct Answer

Explanation →

Q134:

15 May Shift 1

Partnership

>

Medium

Q134:

Rs. 1,20,000

Rs. 1,10,000

Rs. 1,30,000

Rs. 1,40,000

Correct Answer

Option 2

Correct Answer

Explanation →

Q135:

15 May Shift 1

Partnership

>

Easy

Q135:

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

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

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

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

Correct Answer

Option 3

Correct Answer

Explanation →

Q136:

14 May Shift 2

Partnership

>

Easy

Q136:

Rs. 4,38,600

Rs. 21,93,000

Rs. 17,54,400

Rs. 20,45,200

Correct Answer

Option 3

Correct Answer

Explanation →

Q137:

14 May Shift 2

Partnership

>

Easy

Q137:

Rs 10,00,000

Rs 5,00,000

Rs 1,80,000

Rs 88,000

Correct Answer

Option 3

Correct Answer

Explanation →

Q138:

14 May Shift 2

Partnership

>

Easy

Q138:

Rs. 70,000

Rs. 30,000

Rs. 50,000

Rs. 60,000

Correct Answer

Option 3

Correct Answer

Explanation →

Q139:

14 May Shift 2

Partnership

>

Medium

Q139:

Ramesh's sacrifice= 10/42

Ramesh's sacrifice= 7/42

Suresh's sacrifice = 3/42

Suresh's sacrifice = 10/42

Correct Answer

Option 1

Correct Answer

Explanation →

Q140:

14 May Shift 2

Partnership

>

Medium

Q140:

For increase in the value of assets:

Assets A/c's (Individually) Dr.

To Revaluation A/c

(Increase in the value of assets)

For decrease in the value of assets

Revaluation A/c Dr.

To Assets A/c's (Individually)

(Decrease in the value of assets)

For increase in the amount of liabilities

Revaluation A/c Dr.

To Liabilities A/c (Individually)

(Increase in the amount of liabilities)

For an unrecorded liability:

Liability A/c Dr.

To Revaluation A/c

(Unrecorded liability brought into books)

Correct Answer

Option 4

Correct Answer

Explanation →

Q141:

14 May Shift 2

Partnership

>

Medium

Q141:

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

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

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

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

Correct Answer

Option 4

Correct Answer

Explanation →

Q142:

14 May Shift 2

Partnership

>

Medium

Q142:

Rs. 50,000

Rs. 60,000

Rs. 30,000

Rs. 40,000

Correct Answer

Option 2

Correct Answer

Explanation →

Q143:

14 May Shift 1

Partnership

>

Easy

Q143:

Nature of business

Market situation

Location and Address of Partners

Efficiency of management

Correct Answer

Option 3

Correct Answer

Explanation →

Q144:

14 May Shift 1

Partnership

>

Medium

Q144:

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

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

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

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

Correct Answer

Option 4

Correct Answer

Explanation →

Q145:

14 May Shift 1

Partnership

>

Easy

Q145:

old partners in old profit sharing ratio

all the partner in the new profit sharing ratio

old partners in new profit sharing ratio

old partner in the sacrificing ratio

Correct Answer

Option 1

Correct Answer

Explanation →

Q146:

14 May Shift 1

Partnership

>

Easy

Q146:

General reserve

Capital reserve

Vendors' account

Debenture Redemption reserve

Correct Answer

Option 2

Correct Answer

Explanation →

Q147:

14 May Shift 1

Partnership

>

Medium

Q147:

5:3

4:3

3:5

2:5

Correct Answer

Option 3

Correct Answer

Explanation →

Q148:

14 May Shift 1

Partnership

>

Medium

Q148:

A = Rs. 45,000 B = Rs. 25,000 C = Rs. 20,000 D = Rs.30,000

A = Rs. 35,000 B = Rs. 25000 C = Rs. 30,000 D = Rs.30,000

A = Rs. 55,000 B = Rs. 25000 C = Rs. 15,000 D = Rs.25,000

Correct Answer

Option 2

Correct Answer

Explanation →

Q149:

14 May Shift 1

Partnership

>

Easy

Q149:

Rs. 30,000

Rs. 40,000

Rs. 20,000

Rs. 35,000

Correct Answer

Option 1

Correct Answer

Explanation →

Q150:

14 May Shift 1

Partnership

>

Medium

Q150:

Rs. 20,000

Rs. 15,000

Rs. 10,000

Rs. 5,000

Correct Answer

Option 3

Correct Answer

Explanation →

Q151:

14 May Shift 1

Partnership

>

Medium

Q151:

9:5:4:2

9:5:4:6

9:4:3:2

9:3:4:7

Correct Answer

Option 2

Correct Answer

Explanation →

Q152:

14 May Shift 1

Partnership

>

Medium

Q152:

Rs. 40,000

Rs. 5,000

Rs. 15,000

Rs. 10,000

Correct Answer

Option 2

Correct Answer

Explanation →

Q153:

13 May Shift 2

Partnership

>

Medium

Q153:

(A), (B) and (D) only

(A), (B) and (C) only

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

(B), (C) and (D) only

Correct Answer

Option 2

Correct Answer

Explanation →

Q154:

13 May Shift 2

Partnership

>

Medium

Q154:

(A), (B), (C)

(A), (C), (B)

(B), (A), (C)

(C), (B), (A)

Correct Answer

Option 4

Correct Answer

Explanation →

Q155:

13 May Shift 2

Partnership

>

Easy

Q155:

Rs 1,80,000

Rs 8,20,000

Rs 10,00,000

Rs 6,40,000

Correct Answer

Option 3

Correct Answer

Explanation →

Q156:

13 May Shift 2

Partnership

>

Medium

Q156:

Rs 1,80,000

Rs 1,50,000

Rs 90,000

Rs 30,000

Correct Answer

Option 4

Correct Answer

Explanation →

Q157:

13 May Shift 2

Partnership

>

Easy

Q157:

General Reserve

Capital Reserve

Vendor's Account

Redemption Reserve

Correct Answer

Option 2

Correct Answer

Explanation →

Q158:

13 May Shift 2

Partnership

>

Medium

Q158:

A 4 /10, B 2 /10, C 4/10

A 5 /10, B 3 /10, C 2/10

A 2 /10, B 3 /10, C 5/10

A 3 /10, B 3 /10, C 4/10

Correct Answer

Option 2

Correct Answer

Explanation →

Q159:

13 May Shift 2

Partnership

>

Easy

Q159:

Rs. 50,000

Rs. 30000

Rs. 25000

Rs. 21000

Correct Answer

Option 1

Correct Answer

Explanation →

Q160:

13 May Shift 2

Partnership

>

Easy

Q160:

Rs. 36,000

Rs. 60,000

Rs. 40,000

Rs. 27000

Correct Answer

Option 2

Correct Answer

Explanation →

Q161:

13 May Shift 2

Partnership

>

Medium

Q161:

Rs. 20000

Rs. 9000

Rs. 14000

Rs. 27000

Correct Answer

Option 1

Correct Answer

Explanation →

Q162:

13 May Shift 2

Partnership

>

Medium

Q162:

Rs. 9000

Rs. 8000

Rs. 10,000

Rs. 6000

Correct Answer

Option 3

Correct Answer

Explanation →

Q163:

13 May Shift 2

Partnership

>

Easy

Q163:

12%

15%

10%

14%

Correct Answer

Option 1

Correct Answer

Explanation →

Q164:

13 May Shift 1

Partnership

>

Easy

Q164:

Premium for goodwill account

Capital account of new partner

Cash/Bank account

Capital account of old partners

Correct Answer

Option 1

Correct Answer

Explanation →

Q165:

13 May Shift 1

Partnership

>

Easy

Q165:

Profit and loss adjustment account

Assets account

Old Partners Capital Account

All partners Capital account

Correct Answer

Option 2

Correct Answer

Explanation →

Q166:

13 May Shift 1

Partnership

>

Easy

Q166:

Statement of profit and loss

Capital reserve account

Vendor's account

General reserve account

Correct Answer

Option 2

Correct Answer

Explanation →

Q167:

13 May Shift 1

Partnership

>

Medium

Q167:

3:4

1:1

3:5

4:5

Correct Answer

Option 3

Correct Answer

Explanation →

Q168:

13 May Shift 1

Partnership

>

Easy

Q168:

Old firm would be dissolved

Old firm and old partnership would be dissolved

Old partnership would be reconstituted

Nothing is affected.

Correct Answer

Option 3

Correct Answer

Explanation →

Q169:

13 May Shift 1

Partnership

>

Medium

Q169:

Rs. 4000 to both L and M

Rs. 8000 to L

Rs. 8000 to M

Rs. 8000 to both L and M

Correct Answer

Option 2

Correct Answer

Explanation →

Q170:

13 May Shift 1

Partnership

>

Medium

Q170:

Rs. 2,500 each

Rs. 5,000 each

Rs. 20,000 each

Rs. 10,000 each

Correct Answer

Option 2

Correct Answer

Explanation →

Q171:

CUET Accountancy 2024 Slot 1

Partnership

>

Easy

Q171:

(A), (B) and (C) only

(A), (B) and (D) only

(A), (C) and (D) only

(B), (C) and (D) only

Correct Answer

Option 3

Correct Answer

Explanation →

Q172:

CUET Accountancy 2024 Slot 1

Partnership

>

Medium

Q172:

₹ 49,500

₹ 50,000

₹ 40,000

₹ 40,500

Correct Answer

Option 2

Correct Answer

Explanation →

Q173:

CUET Accountancy 2024 Slot 1

Partnership

>

Easy

Q173:

debited to old partners' capital account

credited to all partners' capital accounts

credited to old partners' capital accounts

debited to all partners' capital accounts

Correct Answer

Option 3

Correct Answer

Explanation →

Q174:

CUET Accountancy 2024 Slot 1

Partnership

>

Medium

Q174:

₹ 4,000

₹ 2,000

₹ 6,000

₹ 4,500

Correct Answer

Option 1

Correct Answer

Explanation →

Q175:

CUET Accountancy 2024 Slot 1

Partnership

>

Easy

Q175:

4:3:3

3:4:3

3:3:4

3:2:1

Correct Answer

Option 1

Correct Answer

Explanation →

Q176:

CUET Accountancy 2024 Slot 1

Partnership

>

Easy

Q176:

(A), (B) and (D) only

(A), (B) and (C) only

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

(B), (C) and (D) only

Correct Answer

Option 2

Correct Answer

Explanation →

CUET Accountancy Partnership > Admission PYQs

Q1:

Q1:

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