CUET Accountancy 2025 13 May Shift 2 PYQs

The value of goodwill calculated based on the capitalization of average profit method is $\text{Rs. }1,80,000$. If the Net Assets of the firm are valued at $\text{Rs. }8,20,000$, find the capitalized value of average profits.

Arrange the following line items in the sequence in which they appear in the Balance Sheet as prescribed in Part I of Schedule III of the Companies Act, 2013:(A) Non-current liabilities(B) Current liabilities(C) Current Assets(D) Shareholders' fundsChoose the correct answer from the options given below:

When unrecorded liabilities are settled and paid at the time of dissolution of a partnership firm, they are recorded on the:

Match List-I with List-II:List-IList-II(A) Gaining Ratio(I) An advantage of good name, reputation and wide business connections.(B) New Profit Sharing Ratio(II) The ratio in which the continuing partners have acquired the share from the retiring/deceased partner.(C) Sacrificing Ratio(III) The ratio in which the remaining partners will share future profits after the retirement or death of any partner.(D) Goodwill(IV) The ratio in which the old partners agree to sacrifice their share of profit in favour of the incoming partner.Choose the correct answer from the options given below:

Naveen, Suresh and Tarun are partners sharing profits and losses in the ratio of $5:3:2$. Suresh retires from the firm and his share is acquired by Naveen and Tarun in the ratio $2:1$. Calculate the new profit sharing ratio between Naveen and Tarun.