CUET Accountancy 2023 20 June Shift 2 PYQs - Free Mock Test (No Login)

Identify the scenario from the options below that leads to the complete dissolution of a partnership firm, rather than just a reconstitution of the partnership.

Arrange the following financial steps in the correct chronological sequence when winding up and dissolving a partnership firm.A. Payment of loans advanced by PartnersB. Settlement of secured outsider liabilitiesC. Realization of assets into cashD. Final settlement of partner capital accountsE. Payment of unsecured outsider liabilitiesChoose the correct answer from the options given below:

Match List I with List II:\begin{tabular}{|l|l|}\hline\textbf{LIST I} & \textbf{LIST II} \ \hlineA. Horizontal Analysis & I. Common-size statement \ \hlineB. Vertical Analysis & II. Comparative statement \ \hlineC. External Analysis & III. Access to all published and unpublished information \ \hlineD. Internal Analysis & IV. Access only to published financial records \ \hline\end{tabular}Choose the correct answer from the options given below:

When an unrecorded asset is taken over by a partner during the dissolution of a firm, it is recorded on which side of which account?

Arrange the following components in the correct presentation sequence for constructing a Cash Flow Statement (Indirect Method) under AS-3.A. Calculation of cash flow from Operating ActivitiesB. Calculation of cash flow from Financing ActivitiesC. Calculation of net increase/decrease in cash and cash equivalents during the yearD. Calculation of cash flow from Investing ActivitiesE. Calculation of net profit before tax and extraordinary itemsChoose the correct answer from the options given below: