CUET Accountancy 2025 14 May Shift 2 PYQs

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 $A$?