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

Match List I with List II as per Statement of Profit and Loss of a company under Schedule III of Companies Act, 2013:List IA. Interest chargesB. Sale of servicesC. SalaryD. Dividend IncomeList III. Employee Benefit ExpensesII. Other IncomeIII. Revenue from OperationsIV. Finance CostChoose the correct answer from the options given below:

What is the correct top-to-bottom sequence to prepare a company's Balance Sheet as per the standard format given according to Schedule III of the Companies Act, 2013?A. Non-Current LiabilityB. Non-Current AssetsC. Shareholders' FundsD. Current AssetsE. Current LiabilityChoose the correct answer from the options given below:

On $R$ 's retirement, the amount payable to him after all adjustments works out to be $\text{Rs. }60,000$ but the remaining partners $P$ and $Q$ agreed to pay him $\text{Rs. }75,000$ in full settlement of his claim. Identify the term which represents the $\text{Rs. }15,000$ extra that is paid to $R$.

Identify the correct accounting sequence when a new partner is to bring proportionate capital into the firm.A. Calculation of Capital Balance of old partnersB. Preparation of Revaluation A/cC. Determination of Revaluation gain/lossD. Presentation of Treatment of GoodwillE. Calculation of Capital to be brought in by the new partnerChoose the correct answer from the options given below:

Find out cash from Financing Activities from the following information:ItemAmountIssue of Equity Shares$\text{Rs. }80,000$ Redemption of Preference Shares$\text{Rs. }30,000$ Interim Dividend Paid$\text{Rs. }25,000$ Interest on Debentures$\text{Rs. }15,000$ Issue of Debentures$\text{Rs. }30,000$ Choose the correct answer from the options given below: