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

Arrange the steps for preparing a Profit and Loss Appropriation Account in the correct sequential order:(A) Transfer the net profit to the credit side of the P&L Appropriation A/c.(B) Divide the remaining divisible profit among partners in their Profit Sharing Ratio.(C) Ascertain the net profit after providing for all charges against profit.(D) Debit the P&L Appropriation A/c with all appropriations (e.g., partner's salary, interest on capital).(E) Credit the P&L Appropriation A/c with interest on drawings and any deficiency on account of a partner's guarantee of earnings to the firm.Choose the correct answer from the options given below:

Match List - I with List - II according to SEBI Guidelines and the Companies Act, 2013:
|l|l|- I & - II \ (A) Application money must be at least ____% of the face value of the share & (I) 25% \(B) The amount of a single Call should not exceed ____% of the face value of the share & (II) 90% \(C) Minimum subscription cannot be less than ____% of the issued amount under SEBI guidelines & (III) 10% \(D) Max interest charged on call-in-arrears under Table F is @ ____% p.a. & (IV) 5% \
Choose the correct answer from the options given below:

Which of the following best describes the primary purpose of accounting codification?

An annual report containing audited accounting statements and operational reviews is officially furnished by a company to its:

Identify the correct sequence of steps to be followed when accounting for the retirement of a partner:(A) New Balance Sheet after Retirement(B) Transferring the balance to the Retiring Partner's Loan Account(C) Calculation of the Gaining/Sacrificing Ratio(D) Partners' Capital Account adjustments(E) Preparation of the Revaluation AccountChoose the correct answer from the options given below: