CUET Accountancy 2023 28 May Shift 1 PYQs - Free Mock Test (No Login)

Find the correct sequential operational procedure for the public issue of shares by a joint-stock company:(A) Receipt of Applications(B) Issue of prospectus(C) Allotment of Shares(D) Making call money due(E) Receiving Call moneyChoose the correct answer from the options given below:

Pursuant to Section 48 of the Indian Partnership Act, 1932, when a firm undergoes dissolution, cash assets realized from the disposal of firm assets are applied sequentially in the following order:(A) Paying to each partner proportionately what is due to him/her on account of capital(B) In paying the secured debts of the firm to the third parties(C) In paying each partner proportionately what is due to him/her from the firm for advances as distinguished from capital(D) The residue, if any shall be divided among the partners in their profit sharing ratio(E) In paying unsecured debts of the firm to third parties Choose the correct answer from the options given below:

Match List - I with List - II.
|l|l|- I & - II \ (A) Over-Subscription & (I) Minimum amount that must be raised by issue of shares \(B) Minimum subscription & (II) Application received is more than shares issued \(C) Under-Subscription & (III) Allotment of shares without issue of prospectus \(D) Private Placement & (IV) Application received is less than shares issued \
Choose the correct answer from the options given below:

If a designated Fund balance such as a "Tournament Fund" exists in the books of a Non-Profit Organisation (NPO), then the explicit expenses incurred on executing such tournament activities must be shown:

On the dissolution of a partnership firm, the total book value of debtors stood at $\text{Rs. }2,50,000$. Out of these, $\text{Rs. }10,000$ became completely bad and unrecoverable, while the remaining balance realized $70\%$. In this scenario, by what amount will the Bank Account be debited?