CUET Accountancy Partnership > Retirement/Death PYQs

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CUET Accountancy

Q1:

4 June Shift 2

Partnership

Medium

Common

Q1:

Balance Sheet

Profit and Loss Account

Retiring partners Capital Account

Gaining partners Capital Account

Correct Answer

Option 4

Correct Answer

Explanation →

Q2:

4 June Shift 2

Partnership

Easy

Common

Q2:

Goodwill to be written off (if any)

Credit balance of his capital account

Credit balance of his current account (if any)

His/Her share of profit on revaluation of assets

Correct Answer

Option 1

Correct Answer

Explanation →

Q3:

4 June Shift 2

Partnership

Medium

Common

Q3:

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

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

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

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

Correct Answer

Option 3

Correct Answer

Explanation →

Q4:

3 June Shift 2

Partnership

Easy

Common

Q4:

Rs 2000

Rs 1000

Rs 3000

Rs 6000

Correct Answer

Option 2

Correct Answer

Explanation →

Q5:

3 June Shift 2

Partnership

Easy

Common

Q5:

His/her share of goodwill

His/her salary/commission/bonus.

His/her Interest on Capital

His/her interest on drawing.

Correct Answer

Option 4

Correct Answer

Explanation →

Q6:

3 June Shift 2

Partnership

Medium

Common

Q6:

By debiting all partners' capital accounts in their old profit sharing ratio.

By debiting remaining partners' capital accounts in their new profit sharing ratio.

By debiting retiring partners' capital accounts from his share of goodwill.

By debiting the retiring partners' current account from his share of goodwill.

Correct Answer

Option 1

Correct Answer

Explanation →

Q7:

3 June Shift 2

Partnership

Easy

Common

Q7:

His/her share of goodwill.

Goodwill of the firm.

Shares of goodwill of remaining partners.

Goodwill of the another firm.

Correct Answer

Option 1

Correct Answer

Explanation →

Q8:

3 June Shift 2

Partnership

Easy

Common

Q8:

remaining partner is gaining.

remaining partner is sacrificing.

outgoing partner is sacrificing.

outgoing partner is gaining.

Correct Answer

Option 1

Correct Answer

Explanation →

Q9:

3 June Shift 1

Partnership

Medium

Common

Q9:

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

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

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

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

Correct Answer

Option 2

Correct Answer

Explanation →

Q10:

3 June Shift 1

Partnership

Easy

Common

Q10:

Equal Ratio

Old Profit Sharing Ratio

New Profit Sharing Ratio

Future Profit Sharing Ratio

Correct Answer

Option 2

Correct Answer

Explanation →

Q11:

3 June Shift 1

Partnership

Medium

Common

Q11:

Excess amount of loss will be debited to Revaluation Account.

Excess amount of loss will be credited to Revaluation Account.

Excess amount of gain will be debited to Revaluation Account.

Excess amount of gain will be credited to Revaluation Account.

Correct Answer

Option 1

Correct Answer

Explanation →

Q12:

3 June Shift 1

Partnership

Medium

Common

Q12:

3:7

5:7

7:3

9:5

Correct Answer

Option 3

Correct Answer

Explanation →

Q13:

2 June Shift 2

Partnership

Medium

Common

Q13:

11:17

19:11

11:19

11:12

Correct Answer

Option 2

Correct Answer

Explanation →

Q14:

31 May Shift 1

Partnership

Easy

Common

Q14:

Deceased Partner Capital Account.

Profit and Loss Adjustment Account.

Realisation Account.

Liability Account.

Correct Answer

Option 4

Correct Answer

Explanation →

Q15:

31 May Shift 1

Partnership

Medium

Common

Q15:

3:1

2:1

2:3

3:4

Correct Answer

Option 2

Correct Answer

Explanation →

Q16:

31 May Shift 1

Partnership

Medium

Common

Q16:

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

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

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

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

Correct Answer

Option 1

Correct Answer

Explanation →

Q17:

31 May Shift 1

Partnership

Easy

Common

Q17:

Retired partner only

Remaining partners in the new profit sharing ratio

Old partners in old profit sharing ratio

Old partners in the sacrificing ratio

Correct Answer

Option 3

Correct Answer

Explanation →

Q18:

30 May Shift 2

Partnership

Medium

Common

Q18:

13/24:11/24

7/1:5/12

11/24:13/24

5/1:27/12

Correct Answer

Option 1

Correct Answer

Explanation →

Q19:

30 May Shift 1

Partnership

Medium

Common

Q19:

11:21

25:11

21:11

20:10

Correct Answer

Option 3

Correct Answer

Explanation →

Q20:

30 May Shift 1

Partnership

Easy

Common

Q20:

Nothing is affected.

Old firm and old partnership would be dissolved

Old firm would be dissolved

Old partnership would be reconstituted

Correct Answer

Option 4

Correct Answer

Explanation →

Q21:

30 May Shift 1

Partnership

Easy

Common

Q21:

Gaining ratio

Equal Ratio

New Profit Sharing Ratio

Old Profit Sharing Ratio

Correct Answer

Option 4

Correct Answer

Explanation →

Q22:

29 May Shift 2

Partnership

Easy

Common

Q22:

Retiring Partner Capital Account.

Profit and Loss Adjustment Account.

Liability Account.

Realization Account.

Correct Answer

Option 3

Correct Answer

Explanation →

Q23:

29 May Shift 2

Partnership

Medium

Common

Q23:

(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 →

Q24:

29 May Shift 2

Partnership

Easy

Common

Q24:

Interest on capital.

Profit on revaluation.

Share of general reserve.

Share of accumulated loss.

Correct Answer

Option 4

Correct Answer

Explanation →

Q25:

29 May Shift 2

Partnership

Easy

Common

Q25:

Admission of partner,

Retirement of partner.

Changes in profit sharing ratio,

Death of a partner.

Correct Answer

Option 4

Correct Answer

Explanation →

Q26:

29 May Shift 2

Partnership

Medium

Common

Q26:

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

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

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

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

Correct Answer

Option 2

Correct Answer

Explanation →

Q27:

29 May Shift 2

Partnership

Medium

Common

Q27:

Profit and loss appropriation account is debited.

Revaluation account is debited.

Profit and loss suspense account is debited.

Realisation Account is Debited.

Correct Answer

Option 3

Correct Answer

Explanation →

Q28:

29 May Shift 2

Partnership

Medium

Common

Q28:

3:7.

7:3

3:2.

2:3.

Correct Answer

Option 1

Correct Answer

Explanation →

Q29:

29 May Shift 2

Partnership

Easy

Common

Q29:

Old partners in the gaining ratio

Old partners in old profit sharing ratio

Deceased partner only

Continuing partners in the new profit sharing ratio

Correct Answer

Option 2

Correct Answer

Explanation →

Q30:

27 May Shift 2

Partnership

Medium

Common

Q30:

K's Capital A/c Dr. 13,000

P's Capital A/c Dr. 11,000

To N's Capital A/c 24,000

K's Capital A/c Dr. 12,000

P's Capital A/c Dr. 10,000

To N's Capital A/c 22,000

K's Capital A/c Dr. 14,000

P's Capital A/c Dr. 12,000

To N's Capital A/c 26,000

K's Capital A/c Dr. 15,000

P's Capital A/c Dr. 13,000

To N's Capital A/c 28,000

Correct Answer

Option 1

Correct Answer

Explanation →

Q31:

27 May Shift 2

Partnership

Medium

Common

Q31:

Remaining Partners' Capital A/c Dr.

To Profit and Loss Suspense A/c

Old Partners' Capital A/c Dr.

To Profit and Loss Suspense A/c

Deceased Partner's Capital A/c Dr.

To Profit and Loss Suspense A/c

Profit and Loss Suspense A/c Dr.

To Deceased Partner's Capital A/c

Correct Answer

Option 4

Correct Answer

Explanation →

Q32:

27 May Shift 2

Partnership

Easy

Common

Q32:

His share of goodwill

Goodwill of the firm

Share of goodwill of A

Share of goodwill of B

Correct Answer

Option 1

Correct Answer

Explanation →

Q33:

27 May Shift 2

Partnership

Easy

Common

Q33:

New profit sharing ratio

Gaining ratio

Sacrificing ratio

Old profit sharing ratio

Correct Answer

Option 2

Correct Answer

Explanation →

Q34:

27 May Shift 1

Partnership

Medium

Common

Q34:

3:1

2:1

2:3

3:4

Correct Answer

Option 2

Correct Answer

Explanation →

Q35:

27 May Shift 1

Partnership

Medium

Common

Q35:

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

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

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

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

Correct Answer

Option 2

Correct Answer

Explanation →

Q36:

27 May Shift 1

Partnership

Medium

Common

Q36:

by debiting all partners' capital accounts in their old profit sharing ratio.

by debiting remaining partners' capital accounts in their new profit sharing ratio.

by debiting retiring partners' capital accounts from his share of goodwill

by debiting retiring partners' capital accounts in gaining ratio

Correct Answer

Option 1

Correct Answer

Explanation →

Q37:

27 May Shift 1

Partnership

Medium

Common

Q37:

Rs. 1,80,000

Rs. 1,10,000

Rs. 90,000

Rs. 1,70,000

Correct Answer

Option 1

Correct Answer

Explanation →

Q38:

27 May Shift 1

Partnership

Easy

Common

Q38:

Old share - New share

New share + old share

New share – Old share

Old Share + Sacrifice share

Correct Answer

Option 3

Correct Answer

Explanation →

Q39:

26 May Shift 2

Partnership

Medium

Common

Q39:

New profit sharing Ratio of Sindhu and Priya = 1:2, Gaining Ratio of Sindhu and Priya = 3:2

New profit sharing Ratio of Sindhu and Priya = 3:2, Gaining Ratio of Sindhu and Priya = 5:2

New profit sharing Ratio of Sindhu and Priya = 5:2, Gaining Ratio of Sindhu and Priya = 5:2

New profit sharing Ratio of Sindhu and Priya =7:2, Gaining Ratio of Sindhu and Priya = 4:3

Correct Answer

Option 3

Correct Answer

Explanation →

Q40:

26 May Shift 2

Partnership

Medium

Common

Q40:

11:21

21:11

11:12

12:11

Correct Answer

Option 2

Correct Answer

Explanation →

Q41:

26 May Shift 2

Partnership

Easy

Common

Q41:

By debiting all partners' capital accounts in their old profit-sharing ratio.

By debiting remaining partners' capital accounts in their new profit sharing ratio.

By debiting retiring partners' capital accounts from his share of goodwill.

By debiting the retiring partners' current account from his share of goodwill.

Correct Answer

Option 1

Correct Answer

Explanation →

Q42:

24 May Shift 1

Partnership

Medium

Common

Q42:

Remaining partners (who have sacrificed) as well as retiring partners

Remaining partners only (who have sacrificed)

Retiring partners only

None of the partners

Correct Answer

Option 1

Correct Answer

Explanation →

Q43:

24 May Shift 1

Partnership

Medium

Common

Q43:

21:10

19:11

18:12

15:12

Correct Answer

Option 2

Correct Answer

Explanation →

Q44:

24 May Shift 1

Partnership

Easy

Common

Q44:

New Profit Sharing Ratio

Old Profit Sharing Ratio

Equal Ratio

Capital sharing ratio

Correct Answer

Option 2

Correct Answer

Explanation →

Q45:

24 May Shift 1

Partnership

Medium

Common

Q45:

Old profit sharing ratio

New profit sharing ratio

Equal ratio

Gaining ratio

Correct Answer

Option 1,4

Correct Answer

Explanation →

Q46:

24 May Shift 1

Partnership

Medium

Common

Q46:

Profit and Loss Suspense Account will be debited and the Old Partner's Capital Account will be credited.

Profit and Loss Suspense Account will be debited and the Gaining Partner's Capital Account will be credited.

Profit and Loss Suspense Account will be debited and Deceased Partner's Capital Account will be credited.

Profit and Loss Suspense Account will be credited and Deceased Partner's Capital Account will be debited.

Correct Answer

Option 4

Correct Answer

Explanation →

Q47:

24 May Shift 1

Partnership

Easy

Common

Q47:

By debiting the capital accounts of Ram, Karan and Shyam in their old profit sharing ratio

By debiting the capital accounts of Karan and Shyam in their new profit sharing ratio

By debiting the capital account of Ram from his share of goodwill

By debiting the capital accounts of Karan and Shyam in their old profit sharing ratio

Correct Answer

Option 1

Correct Answer

Explanation →

Q48:

24 May Shift 1

Partnership

Easy

Common

Q48:

His share of goodwill

Share of goodwill of A

Share of goodwill of B

Goodwill of the firm

Correct Answer

Option 1

Correct Answer

Explanation →

Q49:

22 May Shift 2

Partnership

Easy

Common

Q49:

Treatment of losses

Application of Assets

Provision of Indian Partnership Act 1932

Private Debts and Firm's Debts

Correct Answer

Option 4

Correct Answer

Explanation →

Q50:

22 May Shift 2

Partnership

Easy

Common

Q50:

Retirement normally takes place at the end of an accounting period, and the death of a partner may occur at any time.

Retirement always takes place at the end of the year, whereas Death Always takes Place in beginning of the year

Retirement always takes place in beginning of the year, whereas Death Always takes Place at the end of the year

Retirement normally takes place at the end of an accounting period, and the death of a partner takes place at the beginning of the year.

Correct Answer

Option 1

Correct Answer

Explanation →

Q51:

22 May Shift 2

Partnership

Easy

Common

Q51:

Credited to his capital account.

Debited to his capital account.

Debited to profit and loss suspense account.

Debited to profit and loss account.

Correct Answer

Option 2

Correct Answer

Explanation →

Q52:

22 May Shift 2

Partnership

Medium

Common

Q52:

11:17

19:11

11:19

11:12

Correct Answer

Option 2

Correct Answer

Explanation →

Q53:

22 May Shift 2

Partnership

Medium

Common

Q53:

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

(A) - (I), (B) - (II), (C) - (III), (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 →

Q54:

22 May Shift 1

Partnership

Medium

Common

Q54:

5:3

21:11

4:3

11:19

Correct Answer

Option 2

Correct Answer

Explanation →

Q55:

22 May Shift 1

Partnership

Easy

Common

Q55:

By debiting all partners' capital accounts in their old profit sharing ratio

By debiting remaining partners' capital accounts in their new profit sharing ratio.

By debiting retiring partners' capital accounts from his share of goodwill.

By debiting retiring partners' capital accounts in gaining ratio.

Correct Answer

Option 1

Correct Answer

Explanation →

Q56:

22 May Shift 1

Partnership

Easy

Common

Q56:

Old Profit Sharing Ratio

New Profit Sharing Ratio

Equal Ratio

Gaining Ratio

Correct Answer

Option 1,4

Correct Answer

Explanation →

Q57:

22 May Shift 1

Partnership

Medium

Common

Q57:

K capital A/c is debited with Rs 13,000

N Capital A/c is debited with Rs 24,000

N Capital A/c is credited with Rs 24,000

P Capital A/c is debited with Rs 11,000

Correct Answer

Option 2

Correct Answer

Explanation →

Q58:

22 May Shift 1

Partnership

Easy

Common

Q58:

Newly admitted partner only

Old partners in old profit sharing ratio

All the partners, except new in the new profit sharing ratio

Old partners in the sacrificing ratio

Correct Answer

Option 2

Correct Answer

Explanation →

Q59:

22 May Shift 1

Partnership

Easy

Common

Q59:

Debit balance of his current account (if any)

Credit balance of his capital account

Credit balance of his current account (if any)

His/Her share of goodwill

Correct Answer

Option 1

Correct Answer

Explanation →

Q60:

22 May Shift 1

Partnership

Easy

Common

Q60:

Gaining Ratio

New Profit sharing Ratio

Capital ratio

Sacrificing Ratio

Correct Answer

Option 1

Correct Answer

Explanation →

Q61:

16 May Shift 1

Partnership

Easy

Q61:

Bank A/c

Cash A/c

Retiring partner loan A/c

Retiring partner current account

Correct Answer

Option 3

Correct Answer

Explanation →

Q62:

16 May Shift 1

Partnership

Easy

Q62:

Admission of a partner

Death of a partner

Change in Profit sharing ratio

Retirement of a partner

Correct Answer

Option 1

Correct Answer

Explanation →

Q63:

15 May Shift 2

Partnership

Easy

Q63:

3:2

5:2

5:3

2:3

Correct Answer

Option 2

Correct Answer

Explanation →

Q64:

15 May Shift 2

Partnership

Easy

Q64:

Rs. 20,000

Rs. 25,000

Rs. 37,000

Rs. 34,000

Correct Answer

Option 2

Correct Answer

Explanation →

Q65:

15 May Shift 2

Partnership

Medium

Q65:

Rs. 9,000

Rs. 6,000

Rs. 3,000

Rs. 2,500

Correct Answer

Option 3

Correct Answer

Explanation →

Q66:

15 May Shift 2

Partnership

Medium

Q66:

Rs. 25,000

Rs. 34,000

Rs. 31,000

Rs. 37,000

Correct Answer

Option 2

Correct Answer

Explanation →

Q67:

15 May Shift 2

Partnership

Medium

Q67:

15,000

30,000

45,000

60,000

Correct Answer

Option 3

Correct Answer

Explanation →

Q68:

15 May Shift 2

Partnership

Easy

Q68:

1:2

1:1

2:1

3:2

Correct Answer

Option 2

Correct Answer

Explanation →

Q69:

15 May Shift 1

Partnership

Medium

Q69:

21:11

11:21

11:22

12:21

Correct Answer

Option 1

Correct Answer

Explanation →

Q70:

15 May Shift 1

Partnership

Easy

Q70:

(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 →

Q71:

15 May Shift 1

Partnership

Medium

Q71:

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

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

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

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

Correct Answer

Option 2

Correct Answer

Explanation →

Q72:

15 May Shift 1

Partnership

Medium

Q72:

Rs.1,80,000 & Rs.1,70,000

Rs.1,80,000 & Rs.60,000

Rs. 60,000 & Rs.1,60,000

Rs.1,60,000 & Rs. 80,000

Correct Answer

Option 2

Correct Answer

Explanation →

Q73:

14 May Shift 2

Partnership

Medium

Q73:

Rs. 42,000

Rs. 48,000

Rs. 28,000

Rs. 24,000

Correct Answer

Option 3

Correct Answer

Explanation →

Q74:

14 May Shift 2

Partnership

Medium

Q74:

3:2:1

3:2:0

2:3:0

3:4:1

Correct Answer

Option 2

Correct Answer

Explanation →

Q75:

14 May Shift 2

Partnership

Medium

Q75:

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

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

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

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

Correct Answer

Option 1

Correct Answer

Explanation →

Q76:

14 May Shift 1

Partnership

Medium

Q76:

13/24:11/24

7/12:5/12

11/24:13/24

5/12:7/12

Correct Answer

Option 1

Correct Answer

Explanation →

Q77:

14 May Shift 1

Partnership

Medium

Q77:

(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 →

Q78:

14 May Shift 1

Partnership

Easy

Q78:

Gaining Ratio

Old Profit Sharing Ratio

New Sharing Ratio

Equal Ratio

Correct Answer

Option 2

Correct Answer

Explanation →

Q79:

13 May Shift 2

Partnership

Easy

Q79:

Rs. 2000

Rs. 1000

Rs. 3000

Rs. 6000

Correct Answer

Option 2

Correct Answer

Explanation →

Q80:

13 May Shift 2

Partnership

Easy

Q80:

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

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

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

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

Correct Answer

Option 1

Correct Answer

Explanation →

Q81:

13 May Shift 2

Partnership

Medium

Q81:

2:1

7:3

5:2

3:2

Correct Answer

Option 2

Correct Answer

Explanation →

Q82:

13 May Shift 2

Partnership

Easy

Q82:

Assets of the firm

Share in accumulated profits and profits up to the date of retirement/death

Share in accumulated profits and profits up to the date of retirement/death and money contributed by other partners.

Share in Realisation profits.

Correct Answer

Option 2

Correct Answer

Explanation →

Q83:

13 May Shift 1

Partnership

Medium

Q83:

Profit and Loss account

Profit and Loss suspense account

Old partner's capital account

Deceased partner capital account

Correct Answer

Option 2

Correct Answer

Explanation →

Q84:

13 May Shift 1

Partnership

Medium

Q84:

3:2

2:1

1:1

2:2

Correct Answer

Option 3

Correct Answer

Explanation →

Q85:

13 May Shift 1

Partnership

Medium

Q85:

Retiring partners only

Remaing Partners (who have sacrificed) as well as retiring partners

Remaing Partners only( who have sacrificed)

None of the partners

Correct Answer

Option 2

Correct Answer

Explanation →

Q86:

13 May Shift 1

Partnership

Easy

Q86:

Old profit sharing ratio

New profit sharing ratio

Equal ratio

Sacrificing Ratio

Correct Answer

Option 1

Correct Answer

Explanation →

Q87:

13 May Shift 1

Partnership

Medium

Q87:

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

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

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

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

Correct Answer

Option 2

Correct Answer

Explanation →

Q88:

CUET Accountancy 2024 Slot 1

Partnership

Easy

Q88:

Profit and Loss Account will be debited

Profit and Loss Appropriation Account will be debited

Profit and Loss Account will be credited

Profit and Loss Appropriation Account will be credited

Correct Answer

Option 2

Correct Answer

Explanation →

Q89:

CUET Accountancy 2024 Slot 1

Partnership

Medium

Q89:

Bank Account

Realisation Account

Partners' Capital Account

Partners' Loan Account

Correct Answer

Option 2

Correct Answer

Explanation →

Q90:

CUET Accountancy 2024 Slot 1

Partnership

Medium

Q90:

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

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

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

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

Correct Answer

Option 2

Correct Answer

Explanation →

CUET Accountancy Partnership > Retirement/Death PYQs

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CUET Accountancy

Q1:

4 June Shift 2

Partnership

Medium

Common

Q1:

Balance Sheet

Profit and Loss Account

Retiring partners Capital Account

Gaining partners Capital Account

Correct Answer

Option 4

Correct Answer

Explanation →

Q2:

4 June Shift 2

Partnership

Easy

Common

Q2:

Goodwill to be written off (if any)

Credit balance of his capital account

Credit balance of his current account (if any)

His/Her share of profit on revaluation of assets

Correct Answer

Option 1

Correct Answer

Explanation →

Q3:

4 June Shift 2

Partnership

Medium

Common

Q3:

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

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

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

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

Correct Answer

Option 3

Correct Answer

Explanation →

Q4:

3 June Shift 2

Partnership

Easy

Common

Q4:

Rs 2000

Rs 1000

Rs 3000

Rs 6000

Correct Answer

Option 2

Correct Answer

Explanation →

Q5:

3 June Shift 2

Partnership

Easy

Common

Q5:

His/her share of goodwill

His/her salary/commission/bonus.

His/her Interest on Capital

His/her interest on drawing.

Correct Answer

Option 4

Correct Answer

Explanation →

Q6:

3 June Shift 2

Partnership

Medium

Common

Q6:

By debiting all partners' capital accounts in their old profit sharing ratio.

By debiting remaining partners' capital accounts in their new profit sharing ratio.

By debiting retiring partners' capital accounts from his share of goodwill.

By debiting the retiring partners' current account from his share of goodwill.

Correct Answer

Option 1

Correct Answer

Explanation →

Q7:

3 June Shift 2

Partnership

Easy

Common

Q7:

His/her share of goodwill.

Goodwill of the firm.

Shares of goodwill of remaining partners.

Goodwill of the another firm.

Correct Answer

Option 1

Correct Answer

Explanation →

Q8:

3 June Shift 2

Partnership

Easy

Common

Q8:

remaining partner is gaining.

remaining partner is sacrificing.

outgoing partner is sacrificing.

outgoing partner is gaining.

Correct Answer

Option 1

Correct Answer

Explanation →

Q9:

3 June Shift 1

Partnership

Medium

Common

Q9:

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

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

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

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

Correct Answer

Option 2

Correct Answer

Explanation →

Q10:

3 June Shift 1

Partnership

Easy

Common

Q10:

Equal Ratio

Old Profit Sharing Ratio

New Profit Sharing Ratio

Future Profit Sharing Ratio

Correct Answer

Option 2

Correct Answer

Explanation →

Q11:

3 June Shift 1

Partnership

Medium

Common

Q11:

Excess amount of loss will be debited to Revaluation Account.

Excess amount of loss will be credited to Revaluation Account.

Excess amount of gain will be debited to Revaluation Account.

Excess amount of gain will be credited to Revaluation Account.

Correct Answer

Option 1

Correct Answer

Explanation →

Q12:

3 June Shift 1

Partnership

Medium

Common

Q12:

3:7

5:7

7:3

9:5

Correct Answer

Option 3

Correct Answer

Explanation →

Q13:

2 June Shift 2

Partnership

Medium

Common

Q13:

11:17

19:11

11:19

11:12

Correct Answer

Option 2

Correct Answer

Explanation →

Q14:

31 May Shift 1

Partnership

Easy

Common

Q14:

Deceased Partner Capital Account.

Profit and Loss Adjustment Account.

Realisation Account.

Liability Account.

Correct Answer

Option 4

Correct Answer

Explanation →

Q15:

31 May Shift 1

Partnership

Medium

Common

Q15:

3:1

2:1

2:3

3:4

Correct Answer

Option 2

Correct Answer

Explanation →

Q16:

31 May Shift 1

Partnership

Medium

Common

Q16:

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

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

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

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

Correct Answer

Option 1

Correct Answer

Explanation →

Q17:

31 May Shift 1

Partnership

Easy

Common

Q17:

Retired partner only

Remaining partners in the new profit sharing ratio

Old partners in old profit sharing ratio

Old partners in the sacrificing ratio

Correct Answer

Option 3

Correct Answer

Explanation →

Q18:

30 May Shift 2

Partnership

Medium

Common

Q18:

13/24:11/24

7/1:5/12

11/24:13/24

5/1:27/12

Correct Answer

Option 1

Correct Answer

Explanation →

Q19:

30 May Shift 1

Partnership

Medium

Common

Q19:

11:21

25:11

21:11

20:10

Correct Answer

Option 3

Correct Answer

Explanation →

Q20:

30 May Shift 1

Partnership

Easy

Common

Q20:

Nothing is affected.

Old firm and old partnership would be dissolved

Old firm would be dissolved

Old partnership would be reconstituted

Correct Answer

Option 4

Correct Answer

Explanation →

Q21:

30 May Shift 1

Partnership

Easy

Common

Q21:

Gaining ratio

Equal Ratio

New Profit Sharing Ratio

Old Profit Sharing Ratio

Correct Answer

Option 4

Correct Answer

Explanation →

Q22:

29 May Shift 2

Partnership

Easy

Common

Q22:

Retiring Partner Capital Account.

Profit and Loss Adjustment Account.

Liability Account.

Realization Account.

Correct Answer

Option 3

Correct Answer

Explanation →

Q23:

29 May Shift 2

Partnership

Medium

Common

Q23:

(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 →

Q24:

29 May Shift 2

Partnership

Easy

Common

Q24:

Interest on capital.

Profit on revaluation.

Share of general reserve.

Share of accumulated loss.

Correct Answer

Option 4

Correct Answer

Explanation →

Q25:

29 May Shift 2

Partnership

Easy

Common

Q25:

Admission of partner,

Retirement of partner.

Changes in profit sharing ratio,

Death of a partner.

Correct Answer

Option 4

Correct Answer

Explanation →

Q26:

29 May Shift 2

Partnership

Medium

Common

Q26:

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

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

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

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

Correct Answer

Option 2

Correct Answer

Explanation →

Q27:

29 May Shift 2

Partnership

Medium

Common

Q27:

Profit and loss appropriation account is debited.

Revaluation account is debited.

Profit and loss suspense account is debited.

Realisation Account is Debited.

Correct Answer

Option 3

Correct Answer

Explanation →

Q28:

29 May Shift 2

Partnership

Medium

Common

Q28:

3:7.

7:3

3:2.

2:3.

Correct Answer

Option 1

Correct Answer

Explanation →

Q29:

29 May Shift 2

Partnership

Easy

Common

Q29:

Old partners in the gaining ratio

Old partners in old profit sharing ratio

Deceased partner only

Continuing partners in the new profit sharing ratio

Correct Answer

Option 2

Correct Answer

Explanation →

Q30:

27 May Shift 2

Partnership

Medium

Common

Q30:

K's Capital A/c Dr. 13,000

P's Capital A/c Dr. 11,000

To N's Capital A/c 24,000

K's Capital A/c Dr. 12,000

P's Capital A/c Dr. 10,000

To N's Capital A/c 22,000

K's Capital A/c Dr. 14,000

P's Capital A/c Dr. 12,000

To N's Capital A/c 26,000

K's Capital A/c Dr. 15,000

P's Capital A/c Dr. 13,000

To N's Capital A/c 28,000

Correct Answer

Option 1

Correct Answer

Explanation →

Q31:

27 May Shift 2

Partnership

Medium

Common

Q31:

Remaining Partners' Capital A/c Dr.

To Profit and Loss Suspense A/c

Old Partners' Capital A/c Dr.

To Profit and Loss Suspense A/c

Deceased Partner's Capital A/c Dr.

To Profit and Loss Suspense A/c

Profit and Loss Suspense A/c Dr.

To Deceased Partner's Capital A/c

Correct Answer

Option 4

Correct Answer

Explanation →

Q32:

27 May Shift 2

Partnership

Easy

Common

Q32:

His share of goodwill

Goodwill of the firm

Share of goodwill of A

Share of goodwill of B

Correct Answer

Option 1

Correct Answer

Explanation →

Q33:

27 May Shift 2

Partnership

Easy

Common

Q33:

New profit sharing ratio

Gaining ratio

Sacrificing ratio

Old profit sharing ratio

Correct Answer

Option 2

Correct Answer

Explanation →

Q34:

27 May Shift 1

Partnership

Medium

Common

Q34:

3:1

2:1

2:3

3:4

Correct Answer

Option 2

Correct Answer

Explanation →

Q35:

27 May Shift 1

Partnership

Medium

Common

Q35:

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

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

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

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

Correct Answer

Option 2

Correct Answer

Explanation →

Q36:

27 May Shift 1

Partnership

Medium

Common

Q36:

by debiting all partners' capital accounts in their old profit sharing ratio.

by debiting remaining partners' capital accounts in their new profit sharing ratio.

by debiting retiring partners' capital accounts from his share of goodwill

by debiting retiring partners' capital accounts in gaining ratio

Correct Answer

Option 1

Correct Answer

Explanation →

Q37:

27 May Shift 1

Partnership

Medium

Common

Q37:

Rs. 1,80,000

Rs. 1,10,000

Rs. 90,000

Rs. 1,70,000

Correct Answer

Option 1

Correct Answer

Explanation →

Q38:

27 May Shift 1

Partnership

Easy

Common

Q38:

Old share - New share

New share + old share

New share – Old share

Old Share + Sacrifice share

Correct Answer

Option 3

Correct Answer

Explanation →

Q39:

26 May Shift 2

Partnership

Medium

Common

Q39:

New profit sharing Ratio of Sindhu and Priya = 1:2, Gaining Ratio of Sindhu and Priya = 3:2

New profit sharing Ratio of Sindhu and Priya = 3:2, Gaining Ratio of Sindhu and Priya = 5:2

New profit sharing Ratio of Sindhu and Priya = 5:2, Gaining Ratio of Sindhu and Priya = 5:2

New profit sharing Ratio of Sindhu and Priya =7:2, Gaining Ratio of Sindhu and Priya = 4:3

Correct Answer

Option 3

Correct Answer

Explanation →

Q40:

26 May Shift 2

Partnership

Medium

Common

Q40:

11:21

21:11

11:12

12:11

Correct Answer

Option 2

Correct Answer

Explanation →

Q41:

26 May Shift 2

Partnership

Easy

Common

Q41:

By debiting all partners' capital accounts in their old profit-sharing ratio.

By debiting remaining partners' capital accounts in their new profit sharing ratio.

By debiting retiring partners' capital accounts from his share of goodwill.

By debiting the retiring partners' current account from his share of goodwill.

Correct Answer

Option 1

Correct Answer

Explanation →

Q42:

24 May Shift 1

Partnership

Medium

Common

Q42:

Remaining partners (who have sacrificed) as well as retiring partners

Remaining partners only (who have sacrificed)

Retiring partners only

None of the partners

Correct Answer

Option 1

Correct Answer

Explanation →

Q43:

24 May Shift 1

Partnership

Medium

Common

Q43:

21:10

19:11

18:12

15:12

Correct Answer

Option 2

Correct Answer

Explanation →

Q44:

24 May Shift 1

Partnership

Easy

Common

Q44:

New Profit Sharing Ratio

Old Profit Sharing Ratio

Equal Ratio

Capital sharing ratio

Correct Answer

Option 2

Correct Answer

Explanation →

Q45:

24 May Shift 1

Partnership

Medium

Common

Q45:

Old profit sharing ratio

New profit sharing ratio

Equal ratio

Gaining ratio

Correct Answer

Option 1,4

Correct Answer

Explanation →

Q46:

24 May Shift 1

Partnership

Medium

Common

Q46:

Profit and Loss Suspense Account will be debited and the Old Partner's Capital Account will be credited.

Profit and Loss Suspense Account will be debited and the Gaining Partner's Capital Account will be credited.

Profit and Loss Suspense Account will be debited and Deceased Partner's Capital Account will be credited.

Profit and Loss Suspense Account will be credited and Deceased Partner's Capital Account will be debited.

Correct Answer

Option 4

Correct Answer

Explanation →

Q47:

24 May Shift 1

Partnership

Easy

Common

Q47:

By debiting the capital accounts of Ram, Karan and Shyam in their old profit sharing ratio

By debiting the capital accounts of Karan and Shyam in their new profit sharing ratio

By debiting the capital account of Ram from his share of goodwill

By debiting the capital accounts of Karan and Shyam in their old profit sharing ratio

Correct Answer

Option 1

Correct Answer

Explanation →

Q48:

24 May Shift 1

Partnership

Easy

Common

Q48:

His share of goodwill

Share of goodwill of A

Share of goodwill of B

Goodwill of the firm

Correct Answer

Option 1

Correct Answer

Explanation →

Q49:

22 May Shift 2

Partnership

Easy

Common

Q49:

Treatment of losses

Application of Assets

Provision of Indian Partnership Act 1932

Private Debts and Firm's Debts

Correct Answer

Option 4

Correct Answer

Explanation →

Q50:

22 May Shift 2

Partnership

Easy

Common

Q50:

Retirement normally takes place at the end of an accounting period, and the death of a partner may occur at any time.

Retirement always takes place at the end of the year, whereas Death Always takes Place in beginning of the year

Retirement always takes place in beginning of the year, whereas Death Always takes Place at the end of the year

Retirement normally takes place at the end of an accounting period, and the death of a partner takes place at the beginning of the year.

Correct Answer

Option 1

Correct Answer

Explanation →

Q51:

22 May Shift 2

Partnership

Easy

Common

Q51:

Credited to his capital account.

Debited to his capital account.

Debited to profit and loss suspense account.

Debited to profit and loss account.

Correct Answer

Option 2

Correct Answer

Explanation →

Q52:

22 May Shift 2

Partnership

Medium

Common

Q52:

11:17

19:11

11:19

11:12

Correct Answer

Option 2

Correct Answer

Explanation →

Q53:

22 May Shift 2

Partnership

Medium

Common

Q53:

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

(A) - (I), (B) - (II), (C) - (III), (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 →

Q54:

22 May Shift 1

Partnership

Medium

Common

Q54:

5:3

21:11

4:3

11:19

Correct Answer

Option 2

Correct Answer

Explanation →

Q55:

22 May Shift 1

Partnership

Easy

Common

Q55:

By debiting all partners' capital accounts in their old profit sharing ratio

By debiting remaining partners' capital accounts in their new profit sharing ratio.

By debiting retiring partners' capital accounts from his share of goodwill.

By debiting retiring partners' capital accounts in gaining ratio.

Correct Answer

Option 1

Correct Answer

Explanation →

Q56:

22 May Shift 1

Partnership

Easy

Common

Q56:

Old Profit Sharing Ratio

New Profit Sharing Ratio

Equal Ratio

Gaining Ratio

Correct Answer

Option 1,4

Correct Answer

Explanation →

Q57:

22 May Shift 1

Partnership

Medium

Common

Q57:

K capital A/c is debited with Rs 13,000

N Capital A/c is debited with Rs 24,000

N Capital A/c is credited with Rs 24,000

P Capital A/c is debited with Rs 11,000

Correct Answer

Option 2

Correct Answer

Explanation →

Q58:

22 May Shift 1

Partnership

Easy

Common

Q58:

Newly admitted partner only

Old partners in old profit sharing ratio

All the partners, except new in the new profit sharing ratio

Old partners in the sacrificing ratio

Correct Answer

Option 2

Correct Answer

Explanation →

Q59:

22 May Shift 1

Partnership

Easy

Common

Q59:

Debit balance of his current account (if any)

Credit balance of his capital account

Credit balance of his current account (if any)

His/Her share of goodwill

Correct Answer

Option 1

Correct Answer

Explanation →

Q60:

22 May Shift 1

Partnership

Easy

Common

Q60:

Gaining Ratio

New Profit sharing Ratio

Capital ratio

Sacrificing Ratio

Correct Answer

Option 1

Correct Answer

Explanation →

Q61:

16 May Shift 1

Partnership

Easy

Q61:

Bank A/c

Cash A/c

Retiring partner loan A/c

Retiring partner current account

Correct Answer

Option 3

Correct Answer

Explanation →

Q62:

16 May Shift 1

Partnership

Easy

Q62:

Admission of a partner

Death of a partner

Change in Profit sharing ratio

Retirement of a partner

Correct Answer

Option 1

Correct Answer

Explanation →

Q63:

15 May Shift 2

Partnership

Easy

Q63:

3:2

5:2

5:3

2:3

Correct Answer

Option 2

Correct Answer

Explanation →

Q64:

15 May Shift 2

Partnership

Easy

Q64:

Rs. 20,000

Rs. 25,000

Rs. 37,000

Rs. 34,000

Correct Answer

Option 2

Correct Answer

Explanation →

Q65:

15 May Shift 2

Partnership

Medium

Q65:

Rs. 9,000

Rs. 6,000

Rs. 3,000

Rs. 2,500

Correct Answer

Option 3

Correct Answer

Explanation →

Q66:

15 May Shift 2

Partnership

Medium

Q66:

Rs. 25,000

Rs. 34,000

Rs. 31,000

Rs. 37,000

Correct Answer

Option 2

Correct Answer

Explanation →

Q67:

15 May Shift 2

Partnership

Medium

Q67:

15,000

30,000

45,000

60,000

Correct Answer

Option 3

Correct Answer

Explanation →

Q68:

15 May Shift 2

Partnership

Easy

Q68:

1:2

1:1

2:1

3:2

Correct Answer

Option 2

Correct Answer

Explanation →

Q69:

15 May Shift 1

Partnership

Medium

Q69:

21:11

11:21

11:22

12:21

Correct Answer

Option 1

Correct Answer

Explanation →

Q70:

15 May Shift 1

Partnership

Easy

Q70:

(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 →

Q71:

15 May Shift 1

Partnership

Medium

Q71:

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

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

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

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

Correct Answer

Option 2

Correct Answer

Explanation →

Q72:

15 May Shift 1

Partnership

Medium

Q72:

Rs.1,80,000 & Rs.1,70,000

Rs.1,80,000 & Rs.60,000

Rs. 60,000 & Rs.1,60,000

Rs.1,60,000 & Rs. 80,000

Correct Answer

Option 2

Correct Answer

Explanation →

Q73:

14 May Shift 2

Partnership

Medium

Q73:

Rs. 42,000

Rs. 48,000

Rs. 28,000

Rs. 24,000

Correct Answer

Option 3

Correct Answer

Explanation →

Q74:

14 May Shift 2

Partnership

Medium

Q74:

3:2:1

3:2:0

2:3:0

3:4:1

Correct Answer

Option 2

Correct Answer

Explanation →

Q75:

14 May Shift 2

Partnership

Medium

Q75:

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

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

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

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

Correct Answer

Option 1

Correct Answer

Explanation →

Q76:

14 May Shift 1

Partnership

Medium

Q76:

13/24:11/24

7/12:5/12

11/24:13/24

5/12:7/12

Correct Answer

Option 1

Correct Answer

Explanation →

Q77:

14 May Shift 1

Partnership

Medium

Q77:

(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 →

Q78:

14 May Shift 1

Partnership

Easy

Q78:

Gaining Ratio

Old Profit Sharing Ratio

New Sharing Ratio

Equal Ratio

Correct Answer

Option 2

Correct Answer

Explanation →

Q79:

13 May Shift 2

Partnership

Easy

Q79:

Rs. 2000

Rs. 1000

Rs. 3000

Rs. 6000

Correct Answer

Option 2

Correct Answer

Explanation →

Q80:

13 May Shift 2

Partnership

Easy

Q80:

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

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

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

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

Correct Answer

Option 1

Correct Answer

Explanation →

Q81:

13 May Shift 2

Partnership

Medium

Q81:

2:1

7:3

5:2

3:2

Correct Answer

Option 2

Correct Answer

Explanation →

Q82:

13 May Shift 2

Partnership

Easy

Q82:

Assets of the firm

Share in accumulated profits and profits up to the date of retirement/death

Share in accumulated profits and profits up to the date of retirement/death and money contributed by other partners.

Share in Realisation profits.

Correct Answer

Option 2

Correct Answer

Explanation →

Q83:

13 May Shift 1

Partnership

Medium

Q83:

Profit and Loss account

Profit and Loss suspense account

Old partner's capital account

Deceased partner capital account

Correct Answer

Option 2

Correct Answer

Explanation →

Q84:

13 May Shift 1

Partnership

Medium

Q84:

3:2

2:1

1:1

2:2

Correct Answer

Option 3

Correct Answer

Explanation →

Q85:

13 May Shift 1

Partnership

Medium

Q85:

Retiring partners only

Remaing Partners (who have sacrificed) as well as retiring partners

Remaing Partners only( who have sacrificed)

None of the partners

Correct Answer

Option 2

Correct Answer

Explanation →

Q86:

13 May Shift 1

Partnership

Easy

Q86:

Old profit sharing ratio

New profit sharing ratio

Equal ratio

Sacrificing Ratio

Correct Answer

Option 1

Correct Answer

Explanation →

Q87:

13 May Shift 1

Partnership

Medium

Q87:

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

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

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

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

Correct Answer

Option 2

Correct Answer

Explanation →

Q88:

CUET Accountancy 2024 Slot 1

Partnership

Easy

Q88:

Profit and Loss Account will be debited

Profit and Loss Appropriation Account will be debited

Profit and Loss Account will be credited

Profit and Loss Appropriation Account will be credited

Correct Answer

Option 2

Correct Answer

Explanation →

Q89:

CUET Accountancy 2024 Slot 1

Partnership

Medium

Q89:

Bank Account

Realisation Account

Partners' Capital Account

Partners' Loan Account

Correct Answer

Option 2

Correct Answer

Explanation →

Q90:

CUET Accountancy 2024 Slot 1

Partnership

Medium

Q90:

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

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

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

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

Correct Answer

Option 2

Correct Answer

Explanation →