CUET Accountancy 2023 29 May Shift 2 PYQs - Free Mock Test (No Login)

Every company analyses its earning capacity of the business which is an outcome of utilisation of resources employed in the business. To analyse profitability, a company can use:A. Dividend Payout RatioB. Return on Net WorthC. Gross Profit RatioD. Quick RatioE. Inventory Turnover RatioChoose the correct answer from the options given below:

Select the sub-head under which loose tools will be shown in the Balance Sheet of a company as per Schedule III of the Companies Act, 2013.

In a partnership firm, partners share profit and loss in the ratio of $3:2$. If the firm incurred a loss of $\text{Rs. }10,000$ during the year, then calculate the amount of loss to be shared by partners.

Read the following facts about admission of a partner.A. A new partner acquires his share from the old partners that reduces the old partners' share in profits.B. The partners' capital must be adjusted so as to be proportionate to their new profit sharing ratio.C. Assets and Liabilities may be revalued and reassessed on admission of a partner.D. Adjustment for Reserves and Accumulated profits/loss is done.E. Profit sharing ratio of existing partners may change on admission of a new partner. Choose the correct answer from the options given below:

Identify the term that is used to show the amount received as per the will of a deceased person in Not-for-Profit Organisations.