CUET Accountancy 2025 14 May Shift 2 PYQs

The profit on reissue of forfeited shares is transferred to which of the following accounts?

Hanny, Pammy, and Sunny are partners sharing profits in the ratio of $3:2:1$. Goodwill is appearing in the books at a value of $\text{Rs. }60,000$. Pammy retires and at the time of Pammy's retirement, goodwill is valued at $\text{Rs. }84,000$. Hanny and Sunny decided to share future profits in the ratio of $2:1$. Pammy's share of the current value of goodwill 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.

Hari, the holder of $1200$ shares, failed to pay the amount due on the first call @ $\text{Rs. }2\text{/-}$ per share on the due date. He paid this amount along with the second and final call, which became due after $1$ month from the due date of the first call. According to Table F of the Companies Act, 2013, what interest will be charged from Hari on calls in arrears?

The profits for the five years of a firm are as follows:Year 2013: $\text{Rs. }4,00,000$ Year 2014: $\text{Rs. }3,98,000$ Year 2015: $\text{Rs. }4,50,000$ Year 2016: $\text{Rs. }4,45,000$ Year 2017: $\text{Rs. }5,00,000$ The goodwill of the firm on the basis of $4$ years' purchase of $5$ years' average profits is:

Determine the value of a firm's goodwill by the capitalization of super profit method if the average profits are $\text{Rs. }1,00,000$, super profits are $\text{Rs. }18,000$, and the normal rate of return is $10\%$.

Kumar, Lakshya, Manoj, and Naresh are partners sharing profits in the ratio of $3:2:1:4$. Kumar retires and his share is acquired by Lakshya and Manoj in the ratio of $3:2$. The gaining ratio of the remaining partners (Lakshya, Manoj, and Naresh) is:

Arrange the following components of financial statements in the correct accounting sequence of preparation:(A) Cash Flow Statement(B) Balance Sheet(C) Profit and Loss A/c(D) Trading AccountChoose the correct answer from the options given below:

A partnership comes into existence as a result of an agreement among the partners. This written agreement is legally called the:

Which of the following is NOT a general feature of a partnership firm?

On the ultimate dissolution of a partnership firm, partners' capital accounts are closed finally through which account?

The Court may order a partnership firm to be dissolved under Section 44 of the Act in which of the following scenarios?

Arrange the following Balance Sheet items in the top-to-bottom sequence prescribed for the format of a corporate Balance Sheet under the revised Schedule III to the Companies Act, 2013:(A) Current Assets(B) Shareholder's Funds(C) Non-current Liabilities(D) Non-Current Assets(E) Current LiabilitiesChoose the correct answer from the options given below:

The books of a business showed that the firm's capital employed on December 31, 2015, is $\text{Rs. }5,00,000$. The profits for the last five years were:2011: $\text{Rs. }40,000$ 2012: $\text{Rs. }50,000$ 2013: $\text{Rs. }55,000$ 2014: $\text{Rs. }70,000$ 2015: $\text{Rs. }85,000$ Find out the normal profits of the business, given that the normal rate of return is $10\%$.

Aashish withdrew $\text{Rs. }10,000$ per month from the firm for his personal use during the year ending March 31, 2017. Calculate the interest on drawings charged @ $8\%$ p.a., when the amount is withdrawn regularly at the beginning of each month.

Match List-I with List-II concerning different types of corporate share capital definitions:List-I (Type of Capital)List-II (Definition)(A) Authorised Capital(i) It is that part of the subscribed capital which has been called up on the shares.(B) Issued Capital(ii) It is that part of the issued capital which has been actually subscribed by the public.(C) Subscribed Capital(iii) It is that part of the authorised capital which is actually issued to the public for subscription.(D) Called up Capital(iv) The amount of share capital which a company is authorised to issue by its Memorandum of Association.Choose the correct matching sequence from the options below:

Match the transactional descriptions in List-I with their appropriate accounting journal entries in List-II:List-IList-II(A) For Transfer of Application Money(I) Share Allotment A/c Dr. To Share Capital A/c(B) For Money Refunded on Rejected Application(II) Share Application A/c Dr. To Share Capital A/c(C) For Amount Due on Allotment(III) Share Application A/c Dr. To Bank A/c(D) For Receipt of Allotment Money(IV) Bank A/c Dr. To Share Allotment A/cChoose the correct option from the choices given below:

Match the transaction classifications in List-I with their corresponding examples in a Cash Flow Statement (AS-3) listed in List-II:List-IList-II(A) Operating activity(I) Bank(B) Investing activity(II) Redemption of preference shares(C) Financing activity(III) Purchase of machinery(D) Cash equivalents(IV) Cash receipt from trade receivables.Choose the correct option from the answers given below:

Which of the following is NOT classified as a tool for the analysis of Financial Statements?

Identify which combination from the following options includes transactions classified purely as financing activities within a Cash Flow Statement:(A) Proceeds from the issue of equity share capital.(B) Purchase of goodwill.(C) Proceeds from long-term borrowings.(D) Interim dividend paid on equity shares.Choose the correct answer from the options given below:

Which of the following combinations of statements are NOT true regarding financial analysis and financial reporting metrics?(A) Financial analysis is used only by the creditors.(B) Comparative statements are a form of vertical analysis.(C) The financial statements of a business enterprise include a cash flow statement.(D) Ratio analysis establishes relationships between two financial variables.Choose the correct answer from the options given below:

Match the specific debenture categories in List-I with their operational meanings outlined in List-II:List-IList-II(A) Unsecured Debentures(I) These debentures are issued with a specified rate of interest.(B) Redeemable Debentures(II) These debentures do not have a specific charge on the assets of the company.(C) Specific Coupon Rate Debentures(III) These are those which are payable on the expiry of a specific period either in lump sum or in instalments during the life-time of the company.(D) Bearer Debentures(IV) The debentures which can be transferred by way of delivery and the company does not keep any record of the debentures.Choose the correct answer from the options given below:

Ramesh and Suresh are partners in a firm sharing profits in the ratio of $4:3$. They admitted Mohan as a new partner. The new profit sharing ratio of Ramesh, Suresh, and Mohan is determined to be $2:3:1$. Choose the correct option indicating the sacrifice or gain of the old partners:

Arrange the following operational steps in the procedural sequence of public share issuance by a company:(A) Allotment of Shares(B) Calls in Arrears(C) Issue of Prospectus(D) Receipt of ApplicationsChoose the correct answer from the options given below:

Which combination of the given statements is correct regarding partnership regulations and structures?(A) A valid partnership can be formulated even without a written agreement between the partners.(B) Methods of settlement of disputes among the partners cannot be a part of the partnership deed.(C) If the deed is silent, interest at the rate of $6\%$ p.a. would be charged on the drawings made by a partner.(D) Each partner carrying on the business acts as a principal as well as an agent for all the other partners.Choose the correct answer from the options given below:

Which of the following statement configurations is NOT true regarding Capital Accounts of partners?

Identify the INCORRECT journal entry configuration related to the Revaluation of Assets and Liabilities of a partnership firm:

Which of the following statements does NOT accurately describe a characteristic feature of a Company?

A graph is a pictorial representation of data, which exhibits at least a _________ dimensional relationship.

Which combination of statements is correct in accordance with the presentation format prescribed under the revised Schedule III to the Companies Act, 2013?(A) Shareholders' funds are sub-classified as Share Capital, Reserves and Surplus, and Money received against Share Warrants.(B) Reserves and Surplus include Revaluation Reserve.(C) Both tangible and intangible assets are current assets.(D) Deferred tax assets/liabilities are always non-current.Choose the correct answer from the options given below:

Which of the following terms is alternatively used to describe the Registered Capital of a corporate entity?

Jain and Co. purchased a machine from Young Life Machine Limited for $\text{Rs. }3,80,000$. As per the purchase agreement, $\text{Rs. }20,000$ was paid in cash and the balance was settled by the issue of shares of $\text{Rs. }100$ each at a premium of $20\%$. How many shares were issued by Jain and Co.?

Match List-I with List-II regarding the core accounting metrics and concepts across various partnership events:List-I (Accounting Metrics)List-II (Partnership Event)(A) Sacrificing ratio(I) Dissolution of Partnership(B) Gaining Ratio(II) Admission of a New Partner(C) Executors Account(III) Retirement of a Partner(D) Realisation Account(IV) Death of a PartnerChoose the correct answer from the choices given below:

Saloni and Srishti are partners. Their capital accounts as on April 01, 2019, showed balances of $\text{Rs. }2,00,000$ and $\text{Rs. }3,00,000$ respectively. On July 01, 2019, Saloni introduced additional capital of $\text{Rs. }50,000$. On October 01, 2019, Saloni withdrew $\text{Rs. }30,000$ from her capital. Interest is allowed @ $8\%$ p.a. Calculate the interest payable on capital to Saloni during the financial year 2019–2020.

Which spreadsheet workspace view displays data page margins, page headers/footers, and rulers simultaneously?

Arrange the following accounting procedures involved in handling the retirement or death of a partner in the correct logical sequence:(A) Settlement of the amounts due to the retired/deceased partner(B) Ascertainment of the new profit-sharing ratio and gaining ratio(C) Adjustment of capitals, if required(D) Revaluation of assets and liabilitiesChoose the correct answer from the options given below:

Which combination of the given statements is correct regarding the dissolution of a partnership and a firm?(A) Dissolution of a partnership is fundamentally different from the dissolution of a firm.(B) A partnership is dissolved when a partner dies.(C) A firm is dissolved when all partners give their consent to dissolve it.(D) A firm is compulsorily dissolved when any single partner decides to retire.Choose the correct answer from the options given below:

Arrange the steps for valuing goodwill via the Capitalisation of Super Profits Method in the correct logical sequence:(A) Calculate the average profit for the past years, as specified.(B) Calculate the capital employed of the firm.(C) Calculate normal profits on the capital employed.(D) Multiply the super profits with the required rate of return multiplier $(\text{i.e., }\frac{100}{\text{Normal Rate of Return}})$.(E) Calculate super profits by deducting normal profits from average profits.Choose the correct answer from the options given below:

When realization expenses are paid by the firm on behalf of a partner (who was explicitly given the responsibility to bear them), which account must be debited in the firm's books?

$A$ and $B$ are partners in a firm sharing profits in the ratio $2:1$. $C$ is admitted into the firm with a $\frac{1}{4}\text{th}$ share in profits and brings $\text{Rs. }30,000$ as his capital. If the capitals of the old partners $A$ and $B$ are to be adjusted on the basis of $C$ 's capital contribution in their profit-sharing ratio, then what will be the adjusted capital of $A$?

Based on the case study details provided, calculate the Return on Shareholders' Funds:

Based on the case study details provided, find the Earnings Per Share (EPS) for the equity stockholders:

Based on the case study details provided, what is the value of Profit Before Interest and Tax (EBIT)?

Based on the case study details provided, determine the Return on Investment (ROI) for the firm:

Based on the case study details provided, calculate the Price/Earnings (P/E) Ratio:

General conditions regulate the issue and redemption terms of debentures. Which of the following issue/redemption scenarios is NOT standard or valid in accounting practice?

Based on the case study provided, which specific account—and with what amount—must be debited at the time XYZ Ltd. records the acquisition of the business?

Based on the case study details provided, how many debentures would XYZ Ltd. need to issue if the $12\%$ debentures (face value $\text{Rs. }100$ each) were issued at par instead of at a premium?

Based on the case study details provided, when XYZ Ltd. pays out the purchase consideration via the allotment of debentures, the vendor account (Blue Prints Ltd. Account) will be:

Based on the case study details provided, what is the actual number of debentures issued by XYZ Ltd. to Blue Prints Ltd. under the specified premium conditions?