CUET Accountancy 2025 15 May Shift 2 PYQs

Convertible debentures cannot be issued at a discount if:

Accounting treatment for a partnership firm is similar to that of a sole proprietorship business except the following aspects:(A) Distribution of Profit and Loss among the partners(B) Dissolution of Partnership Firm(C) Raising Capital through public offering(D) Adjustments for Wrong Appropriation of Profits in the PastChoose the correct answer from the options given below:

In which of the following cases can a court order the dissolution of a partnership firm?

A and B are partners, they admit C into partnership. C was asked to pay Rs 2,50,000 though his share of capital was estimated Rs 2,00,000 only. For what was the extra Rs 50,000 asked from C?

Match List-I with List-II if the partnership deed is silent regarding the items provided in List-I:List-IList-II(A) Interest on Capital(I) to be shared equally(B) Interest on Loan(II) not charged(C) Interest on Drawings(III) not payable(D) Sharing of Profits(IV) @6% p.a.Choose the correct answer from the options given below:

Which of the following are shown under the capital account in case the partners' capitals are fixed?(A) Fresh capital introduced(B) Permanent capital withdrawn(C) Interest on capital(D) Amount of capital brought down from the previous yearChoose the correct answer from the options given below:

Which of the following will lead to the dissolution of a partnership firm?

Arrange the following in the correct sequence related to the issue of shares:(A) Letters of allotment and letters of regret are sent(B) Prospective investors make an application along with the application money(C) The company issues the prospectus to the public(D) Subsequent installments are calledChoose the correct answer from the options given below:

It is available only for the creditors on winding up of the company.

High Land India Ltd. invited applications for 50,000 Shares of Rs. 100 each per share. Applications were received for 70,000 shares and pro-rata allotment was made on the application for 50,000 shares. Rohan to whom 600 shares were allotted failed to pay the allotment money and his shares were forfeited immediately after allotment. Of the shares forfeited, 500 shares were reissued as fully paid-up for Rs. 80 per share.The correct order to be followed for recording these entries will be:(A) Forfeiture of shares(B) Calculation of amount received on allotment(C) Adjustment of excess money received on application towards allotment(D) Reissue of sharesChoose the correct answer from the options given below:

According to the manner prescribed in the revised Schedule III to the Companies Act, 2013, the particulars of the balance sheet will appear in which top-to-bottom relative order?(A) Deferred tax assets(B) Deferred tax liabilities(C) Reserves and Surplus(D) Short-term provisionsChoose the correct answer from the options given below:

In case of dissolution of a partnership firm, losses, including deficiencies of capital, shall be paid first out of:

The method of Codification should be:

Which of the following will be included in the journal entry when debentures are issued to a vendor at a discount for a purchase consideration other than cash?(A) % Debenture A/c is credited(B) Vendor A/c is debited(C) Discount on Issue of Debenture A/c is debited(D) Securities Premium Reserve A/c is creditedChoose the correct answer from the options given below:

Which of the following is NOT one of the recognized methods for the valuation of goodwill?

Match List-I with List-II:List-IList-II(A) AS-3(I) Statement of profit & loss(B) Schedule III of Companies Act(II) Cash flow statement(C) Financial status of the undertaking(III) Final accounts of company(D) Performance report(IV) Balance sheetChoose the correct answer from the options given below:

How many blank worksheets are shown by default when a new workbook is created in classic spreadsheet systems like Microsoft Excel (older default versions typically referred to in standard curriculum textbooks)?

In line with what is prescribed by Accounting Standards, existing goodwill appearing in the balance sheet is written off at the time of:

Which of the following entries correctly records the withdrawal of excess capital by a partner?

Neil, Kapil, and Sunil started a furniture business in partnership. After one year of operations, they began exporting contraband items hidden inside blank spaces within the furniture. As authorities found out about the illegal business operations of the firm, the legal system will compel them for:

Where a company does not register its own Articles of Association (AoA), which of the following provisions applies regarding calls on shares as per Table F (referred to as Table A in older Companies Act text variants)?

Match List-I with List-II:List-IList-II(A) Accounting Standard Rules(I) 2013(B) Companies Act(II) 1932(C) Financial Statement of Company(III) 2006(D) Partnership Act(IV) Schedule IIIChoose the correct answer from the options given below:

Arrange the following items in the correct order of presentation in a standard Cash Flow Statement:(A) Cash and cash equivalents at the end(B) Cash and cash equivalents at the beginning(C) Purchase of property(D) Proceeds from Issuance of BondsChoose the correct answer from the options given below:

According to Table F of Schedule I of the Companies Act, 2013, the amount called up on any single call should not exceed ________ of the face value of shares.

If a new partner does not bring his share of goodwill in cash, which of the following adjustment treatments must be carried out?

Match List-I with List-II:List-IList-II(A) Calls in Advance A/c Dr.To Particular Call A/c(I) For Interest due on Calls in Advance(B) Interest on Calls in Advance A/c Dr.To Sundry Shareholders' A/c(II) For Interest Paid on Calls in Advance(C) Sundry Shareholders' A/c Dr.To Bank A/c(III) Calls in advance adjusted with the call money due(D) Bank A/c Dr.To Calls in Arrears A/cTo Interest on Calls in Arrears A/c(IV) Calls in arrears received with interestChoose the correct answer from the options given below:

Net loss of a firm as per the Profit and Loss Account for the year ending March 31, 2024 amounted to Rs. 75,000. Yaduvanshi, Madhulika, and Vidushi are partners, sharing profits and losses in the ratio of $2:2:1$. Their fixed capitals on April 01, 2019 were: Yaduvanshi Rs. 5,00,000, Madhulika Rs. 4,00,000, and Vidushi Rs. 3,50,000. On the basis of the above information, select the correct journal entry to distribute the loss:

Which of the following events takes place in the case of the dissolution of a partnership firm?

The following accounting ratios primarily measure a firm's operational or structural risk:(A) Liquidity(B) Activity(C) Debts(D) ProfitabilityChoose the correct answer from the options given below:

'Money received against share warrants' is to be disclosed as a separate line item under which main head of a company's Balance Sheet?

Zomato Ltd. decided to offer 10% of its issued capital to its employees at a price lower than its market value. The scheme adopted by Zomato Ltd. is known as an:

If the premium amount has not been received in respect of shares being forfeited, the Securities Premium Reserve Account:

L, N and T are partners sharing profits in the ratio of $5:3:2$. If N retires, what would be the gaining ratio of L & T?

In order to bring clarity regarding the identity of ultimate owners of a company, disclosure of shares in the company held by each shareholder is required for anyone holding more than _____ of the shares, specifying the exact number of shares held.

Match List-I with List-II:List-IList-II(A) Profit and Loss adjustment A/c(I) Changes in amount of capital(B) Profit and loss appropriation A/c(II) Generally no change in amount of capital(C) Fixed capital A/c(III) Errors and omissions found after preparation of final A/c(D) Fluctuating capital method(IV) Extension of Profit & loss A/cChoose the correct answer from the options given below:

A and B are partners, sharing profits equally. Their fixed capitals were Rs. 2,00,000 and Rs. 3,00,000 respectively. Interest on capital as provided under the partnership deed @10% p.a. was omitted. Select the correct option to perform the rectification adjustment:

On the basis of the information given below, find the value of the Closing Inventory:
$$\text{Opening Inventory}=\text{Rs. }20,000$$
$$\text{Average Inventory}=\text{Rs. }40,000$$

Which of the following items are included under the head "Reserves and Surplus" in a company balance sheet?(A) Securities Premium Reserve(B) Revaluation Reserve(C) Share Options Outstanding Account(D) Reserve CapitalChoose the correct answer from the options given below:

To write off a Discount on the Issue of Debentures, which of the following journal entries is recorded?

Consider the following data: Net Profit after tax is Rs. 60,000; 12% Long-term debt is Rs. 20,000,000; and the Tax rate is 40%.Arrange the steps in the correct chronological sequence to calculate the Interest Coverage Ratio:(A) Calculate Net Profit before tax(B) Divide Net Profit before Interest and Tax by Interest on long-term debt(C) Calculate Net profit before interest and tax(D) Calculate Interest on Long-term DebtChoose the correct answer from the options given below:

The dues of Kabir are to be paid in 4 yearly installments. The principal amount of each installment will be:

The amount of interest payable to Kabir at the end of the fourth year will be:

The net total amount (Principal + Interest) payable to Kabir at the end of the 2nd year is:

If at the time of Kabir's retirement, his individual share of goodwill is valued at Rs. 15,000, and assuming partners share profits equally ($1:1:1$) unless specified otherwise, what will be the total valuation of the firm's goodwill?

What is the gaining ratio between the remaining partners, Preeti and Shershah, upon Kabir's retirement?

The value of long-term borrowings as on March 31, 2023 was:

What is the percentage change in Share Capital from 2023 to 2024?

The value of Reserves and Surplus as on March 31, 2024 stood at:

What is the value of Tangible Assets as on March 31, 2024?

What is the percentage change in Cash and Cash Equivalents from 2023 to 2024?