CUET Accountancy 2025 13 May Shift 1 PYQs

Match List-I with List-II:List-I(A) Liquidity Ratio(B) Solvency Ratio(C) Activity (or Turnover) Ratio(D) Profitability RatioList-II(I) Inventory Turnover ratio(II) Quick Ratio(III) Price earning ratio(IV) Total asset to debt ratioChoose the correct answer from the options given below:

On the Death of a Partner, which account is debited for his/her share of profit for the intervening period, i.e., the period from the date of the last balance sheet till the date of the partner's death:

The assets of the firm, including any sum contributed by the partners to make up deficiencies of capital, shall be applied first for paying:

Which statements are true about the dissolution of a partnership-(A) Dissolution of a partnership is different from dissolution of a firm.(B) A partnership is dissolved when there is a death of a partner.(C) A firm is compulsorily dissolved when a partner decides to retire.(D) Dissolution of partnership cannot take place without intervention of the court.Choose the correct answer from the options given below:

Debentures are convertible into which of the following?

Arrange the following under the heading Equities and Liabilities in the balance sheet of a company in the correct order from top to bottom as per Schedule III of the Companies Act, 2013:(A) Non-current liabilities(B) Current liabilities(C) Shareholders' fund(D) Share application money pending allotmentChoose the correct answer from the options given below:

When a new partner brings his share of goodwill in cash, the amount brought in is credited to:

On the dissolution of a firm, external creditors' accounts are transferred to:

Shares can be forfeited:

Match List-I with List-II as per AS-3 (Cash Flow Statements):List-IList-II(A) Cash from Operating Activities(I) Dividends paid on equity and preference capital.(B) Cash from Financing Activities(II) Cash receipts from sale of goods and the rendering of services(C) Cash from Investing Activities(III) Bank balance(D) Cash and cash equivalents(IV) Cash receipt from disposal of fixed assets including intangibles.Choose the correct answer from the options given below:

On the admission of a new partner, an increase in the value of assets is debited to:

Match List-I with List-II:List-IList-II(A) Authorised Capital(I) Capital which is actually issued to the public for subscription including the shares allotted to vendors and the signatories to the company's memorandum.(B) Issued Capital(II) It is that part of the subscribed capital which has been called up on the shares, i.e., what the company has asked the shareholders to pay.(C) Subscribed Capital(III) The amount of share capital which a company is authorised to issue by its Memorandum of Association.(D) Called up Capital(IV) It is that part of the issued capital which has been actually subscribed by the public.Choose the correct answer from the options given below:

Which of the following statements are correct?(A) A company is an artificial person.(B) Company's shares are generally transferable.(C) Paid-up capital can exceed called-up capital.(D) The part of capital which is called up only on winding up is called reserve capital.Choose the correct answer from the options given below:

Which of the following indicates a situation of compulsory dissolution of a partnership firm?

Nominal share capital is defined as:

Which of the following is NOT a characteristic of a corporate company structure?

Which of the following statements are wrong about debentures?(A) Debenture is a part of owned capital.(B) The debentures cannot be issued at a discount of more than 10% of the face value.(C) Debentures cannot be converted into shares.(D) Redeemable debentures are those debentures, which are payable on the expiry of a specific period.Choose the correct answer from the options given below:

Under Schedule III of the Companies Act 2013, current liabilities do not include:

The excess value of net assets acquired over the purchase consideration at the time of purchasing a business is credited to which account?

$R$ and $S$ are partners in a firm sharing profits in the ratio of $5:3$. They admitted $B$ as a new partner for $\frac{1}{7}\text{th}$ share in the profit. The new profit sharing ratio among $R$, $S$, and $B$ becomes $4:2:1$. The sacrificing ratio of $R$ and $S$ is:

Which of the following debentures do not have a specific charge on the assets of the company?

Arrange the steps for the public issue of shares in the correct chronological order:(A) Allotment of shares(B) Issue of Prospectus(C) Share first call(D) Receipt of ApplicationsChoose the correct answer from the options given below:

Which statements are true about partnership operations under Indian framework?(A) Each partner carrying on the business is the principal as well as the agent for all the other partners.(B) A valid partnership can be formulated even without a written agreement between the partners.(C) Interest on partner's loan is to be given @ 12% p.a., if the deed is silent about the rate.(D) The maximum number of partners can be 50 in a firm.Choose the correct answer from the options given below:

When realization expenses are paid by the firm on behalf of a partner, such expenses are debited to:

Match List-I with List-II:List-IList-II(A) Comparative Statements(I) These are the statements which indicate the relationship of different items of a financial statement with a common item by expressing each item as a percentage of that common item.(B) Common Size Statements(II) It is a technique of studying the operational results and financial position over a series of years.(C) Trend Analysis(III) It describes the significant relationship which exists between various items of a balance sheet and a statement of profit and loss of a firm.(D) Ratio Analysis(IV) These are the statements showing the profitability and financial position of a firm for different periods of time in a comparative form to give an idea about the position of two or more periods.Choose the correct answer from the options given below:

$X$, $Y$ and $Z$ are partners in a firm. If $M$ is admitted as a new partner, what would be its primary legal implication?

$L$ and $M$ are partners sharing profits in the ratio $3:2$. $N$ is admitted as a partner for $\frac{1}{5}\text{th}$ of the share which is acquired entirely from $L$. Goodwill of the firm is valued at Rs. $40,000$ on $N$ 's admission. $N$ will have to pay for Goodwill:

The old Profit Sharing ratio among $M$, $N$ and $P$ is $2:2:1$. The New profit sharing ratio after $N$ 's retirement is set at $3:2$. The gaining ratio between $M$ and $P$ will be:

On the retirement or death of a partner, the remaining partners who have gained due to the change in profit-sharing ratio should compensate:

Arrange the basic steps to create a spreadsheet chart in MS Excel in the correct logical order from start to finish:(A) On clicking the Start symbol, select the Programs option.(B) Click on the Insert tab to access chart tools.(C) Click on the computer screen's Start Icon.(D) Selecting the MS Excel program opens a blank workbook with a Ribbon displayed at the top.Choose the correct answer from the options given below:

$A$ and $N$ are partners sharing profits in the ratio $2:1$. $A$ 's son $Ashu$ was admitted as a partner for $\frac{1}{4}\text{th}$ share, half of which was gifted by $A$ to her son. The remaining portion was contributed by $N$. The goodwill of the firm is valued at Rs. $40,000$. How much amount will be credited to the old partners' capital accounts respectively for goodwill?

$X$ Co. Ltd. purchased assets worth Rs. $28,80,000$. It issued debentures of Rs. $100$ each at a discount of $4\%$ in full satisfaction of the purchase consideration. The number of debentures issued to vendors is:

According to Section ___________ of the Indian Partnership Act 1932, the dissolution of partnership between all the partners of a firm is called the dissolution of the firm.

Which section of the Indian Companies Act, 2013 clarifies the legal classification of share capital into Equity shares and Preference shares?

Consider the following financial metrics of a firm:Total Assets = Rs. $3,00,000$ Non-current Liabilities = Rs. $80,000$ Shareholders' Fund = Rs. $2,00,000$ Fixed Assets = Rs. $1,60,000$ Non-current Investments = Rs. $1,00,000$ The Current Ratio of the firm is:

In the absence of any structural information regarding how the remaining partners acquire the share of a retiring or deceased partner, it is assumed that they will acquire it in their:

Which of the following statements are true-(A) The financial statements of a business enterprise include a cash flow statement.(B) Comparative statements are a form of horizontal analysis.(C) Ratio analysis helps a business in identifying problem areas.(D) Financial analysis is used only by creditors.Choose the correct answer from the options given below:

Arrange the following mathematical operations in the correct sequence order in which an electronic spreadsheet (MS Excel) processes equations from highest priority to lowest priority (PEMDAS/BODMAS):(A) * Multiplication(B) + Addition(C) ( ) Brackets(D) / DivisionChoose the correct answer from the options given below:

Match List-I with List-II:List-IList-II(A) Admission of a partner(I) Executor Accounts(B) Retirement of a partner(II) Sacrificing Ratio(C) Death of a partner(III) Realisation Account(D) Dissolution of a firm(IV) Gaining RatioChoose the correct answer from the options given below:

Arrange the sequential accounting processing steps required at the time of the death of a partner in the correct logical order:(A) Preparation of deceased partner's capital account(B) Ascertainment of new profit sharing ratio and gaining ratio(C) Preparation of revaluation account, if required(D) Settlement by making payment to the deceased partner's executorChoose the correct answer from the options given below:

Comprehension:A partner withdrew money during the financial year ending March 31, 2020 from his capital account for personal use.The individual amounts withdrawn were:Rs. $12,000$ on June 01, 2019Rs. $8,000$ on August 31, 2019Rs. $3,000$ on September 30, 2019Rs. $7,000$ on November 30, 2019Rs. $6,000$ on January 31, 2020The rate of interest on drawings is $9\%$ per annum.Question: Calculate the interest on drawings specifically for the amount of Rs. $12,000$ drawn on June 01, 2019.

Comprehension:A partner withdrew money during the financial year ending March 31, 2020 from his capital account for personal use.The individual amounts withdrawn were:Rs. $12,000$ on June 01, 2019Rs. $8,000$ on August 31, 2019Rs. $3,000$ on September 30, 2019Rs. $7,000$ on November 30, 2019Rs. $6,000$ on January 31, 2020The rate of interest on drawings is $9\%$ per annum.Question: Calculate the interest on drawings specifically for the amount of Rs. $3,000$ drawn on September 30, 2019.

Comprehension:A partner withdrew money during the financial year ending March 31, 2020 from his capital account for personal use.The individual amounts withdrawn were:Rs. $12,000$ on June 01, 2019Rs. $8,000$ on August 31, 2019Rs. $3,000$ on September 30, 2019Rs. $7,000$ on November 30, 2019Rs. $6,000$ on January 31, 2020The rate of interest on drawings is $9\%$ per annum.Question: The total cumulative amount of interest on drawings charged to the partner for the year will be:

Comprehension:A partner withdrew money during the financial year ending March 31, 2020 from his capital account for personal use.The individual amounts withdrawn were:Rs. $12,000$ on June 01, 2019Rs. $8,000$ on August 31, 2019Rs. $3,000$ on September 30, 2019Rs. $7,000$ on November 30, 2019Rs. $6,000$ on January 31, 2020The rate of interest on drawings is $9\%$ per annum.Question: Calculate the interest on drawings specifically for the amount of Rs. $6,000$ drawn on January 31, 2020.

Comprehension:A partner withdrew money during the financial year ending March 31, 2020 from his capital account for personal use.The individual amounts withdrawn were:Rs. $12,000$ on June 01, 2019Rs. $8,000$ on August 31, 2019Rs. $3,000$ on September 30, 2019Rs. $7,000$ on November 30, 2019Rs. $6,000$ on January 31, 2020The rate of interest on drawings is $9\%$ per annum.Question: Calculate interest on drawings specifically for the amount of Rs. $7,000$ withdrawn on November 30, 2019.

Comprehension:Consider the following account balance particulars of a firm:ParticularsAmount (Rs.)Inventories$50,000$ Trade Receivables$50,000$ Advance Tax$4,000$ Cash and Cash Equivalents$30,000$ Trade Payables$1,00,000$ Bank overdraft$4,000$ Question: Quick Assets of the firm are:

Comprehension:Consider the following account balance particulars of a firm:ParticularsAmount (Rs.)Inventories$50,000$ Trade Receivables$50,000$ Advance Tax$4,000$ Cash and Cash Equivalents$30,000$ Trade Payables$1,00,000$ Bank overdraft$4,000$ Question: Current Ratio of the firm is:

Comprehension:Consider the following account balance particulars of a firm:ParticularsAmount (Rs.)Inventories$50,000$ Trade Receivables$50,000$ Advance Tax$4,000$ Cash and Cash Equivalents$30,000$ Trade Payables$1,00,000$ Bank overdraft$4,000$ Question: Quick Ratio (Liquid Ratio) of the firm is:

Comprehension:Consider the following account balance particulars of a firm:ParticularsAmount (Rs.)Inventories$50,000$ Trade Receivables$50,000$ Advance Tax$4,000$ Cash and Cash Equivalents$30,000$ Trade Payables$1,00,000$ Bank overdraft$4,000$ Question: Total cumulative amount of current liabilities is:

Comprehension:Consider the following account balance particulars of a firm:ParticularsAmount (Rs.)Inventories$50,000$ Trade Receivables$50,000$ Advance Tax$4,000$ Cash and Cash Equivalents$30,000$ Trade Payables$1,00,000$ Bank overdraft$4,000$ Question: Total amount of Current Assets is: