CUET Accountancy 2025 14 May Shift 2 PYQs

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?