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

Trade payables to be settled beyond 12 months from the date of Balance Sheet or beyond the operating cycle are classified under which main head/sub-head?

Match List I with List II regarding partnership parameters:List IA. Interest on capitalB. Gaining RatioC. Sacrificing ratioD. Revaluation of Assets and LiabilitiesList III. Admission of partnerII. Profit/Loss in the old profit sharing ratioIII. Continuing partnersIV. When partnership deed specifically provides for itChoose the correct answer from the options given below:

Capital gains tax paid explicitly on the sale of fixed assets should be classified as a:

$A$, $B$, and $C$ are partners with an equal profit sharing ratio ($1:1:1$). Their fixed capitals are $\text{Rs. }30,000$, $\text{Rs. }25,000$ and $\text{Rs. }30,000$ respectively. $C$ decides to retire. $A$ and $B$ decide to continue the partnership firm and change their new profit sharing ratio into their respective Capital Ratio. What is the gaining ratio of $A$ and $B$?

Identify the fundamental security element that acts as a verification key to allow authorized user access to an accounting information system.