CUET Accountancy 2025 2 June Shift 2 PYQs

Calls in arrears are shown in the balance sheet as:

Match List-I with List-II:List-I(A) Authorized capital(B) Issued capital(C) Subscribed capital(D) Paid up capitalList-II(I) Mentioned in Prospectus.(II) Mentioned In Memorandum Of Association.(III) Called up capital $-$ calls in arrears.(IV) Capital for which application is received.Choose the correct answer from the options given below:

R Ltd purchased a building from X Infra for $\text{Rs. }6,00,000$ and the payment is to be made by the issue of shares for $\text{Rs. }100$ each at a premium of $20\%$. Calculate the number of shares to be issued.

Section 49 of the Indian Partnership Act, 1932 deals with:

Match List-I with List-II:List-I (Accounting standards / Section of Act)List-II (Issues)(A) AS-3(I) Settlement Of Accounts.(B) AS-26(II) Firm's debt and private debt(C) Section 48 of the Indian partnership Act(III) Cash flow statement.(D) Section 49 of the Indian partnership Act(IV) Treatment of goodwill.Choose the correct answer from the options given below:

Match List-I with List-II:List-I (Types of goodwill)List-II (Treatment to be done)(A) Existing Goodwill(I) No entry passed.(B) Goodwill premium(II) Inferred from the capital arrangement.(C) Goodwill paid privately(III) Written off.(D) Hidden goodwill(IV) Credited to sacrificing partner.Choose the correct answer from the options given below:

A share of $\text{Rs. }10$ was issued at a premium of $\text{Rs. }3$. $\text{Rs. }3$ was payable on application and $\text{Rs. }5$ was payable on allotment (including premium). A shareholder who had applied for $100$ shares was allotted only $50$ shares and due to non-payment of allotment money, his shares were forfeited. In this case, the amount to be debited to Securities Premium A/c on forfeiture of these shares is:

In case of a Fixed Capital Account framework, Interest on Drawings is:

Arrange the sequence of steps to be followed in the preparation of a Realisation Account during the dissolution of a partnership firm:(A) Realisation of the assets.(B) Transfer assets and liabilities to realisation account.(C) Ascertainment of profit or loss on realisation.(D) Payment of liabilities.Choose the correct answer from the options given below:

Under what condition is an amount shown under the head 'Subscribed and Fully Paid up Share Capital' in the Balance Sheet of a Company?

Rent payable to a partner is a/an:

When unrecorded debtors are realized at the time of dissolution of a partnership firm, they will be recorded on the:

Match List-I with List-II:List-I (Different accounts)List-II (Related transaction)(A) Profit and loss account(I) Dissolution of partnership.(B) Profit and loss appropriation account(II) Dissolution of firm.(C) Revaluation account(III) Interest on loan to partner.(D) Realization account(IV) Transfer to reserve.Choose the correct answer from the options given below:

A share of $\text{Rs. }10$ on which $\text{Rs. }8$ was called up was forfeited for non-payment of $\text{Rs. }5$. This share can be reissued at a minimum price of $\text{Rs.}$:

In the absolute absence of a valid partnership deed, interest on drawings is charged at what rate?

When realization expenses are paid by a partner on behalf of the firm, which account will be credited?

A and B are partners in a firm sharing profits in the ratio of $3:2$. They admit C as a partner for a $\frac{1}{3}$ share. The sacrificing ratio between A and B is:

To secure the right to receive a share in the future profits of a partnership firm, a newly admitted partner must bring:

A company issues $\text{Rs. }1,00,000$, $9\%$ debentures of $\text{Rs. }100$ each at a discount of $15\%$, but redeemable at a premium of $5\%$. The total amount debited to the 'Loss on Issue of Debentures Account' is:

Debenture Suspense Account is presented in the balance sheet as:

When the exact date of a partner's drawings is not specified in the records, interest on drawings is calculated for an average period of:

The past average profits of a business work out to $\text{Rs. }20,000$ and it is expected that such profits are likely to continue for another three years. The value of goodwill based on the average profit method will be:

Choose the correct statement from the options given below:

Arrange the following share capital events in their proper chronological order:(A) Transfer to capital reserve.(B) Forfeiture of share.(C) Calls in arrears.(D) Re-issue of share.Choose the correct answer from the options given below:

According to the Indian Partnership Act, 1932, and subject to a contract between the partners, a firm can be dissolved upon the occurrence of certain contingencies. These include:(A) If constituted for a fixed term, by the expiry of that term.(B) If constituted to carry out one or more ventures, by the completion thereof.(C) By the death of a partner.

Which of the following statements is true regarding a Revaluation Account?

Identify the correct statement regarding a Partner's Current Account:

When an unrecorded asset is taken over by a creditor in full settlement of their claim during dissolution, the transaction is:

The liability of partners in a general partnership firm is:

Which Indian Accounting Standard (AS) governs the recognition and accounting treatment of Intangible Assets?

Match List-I with List-II:List-I (Events)List-II (Result)(A) Termination of business(I) Not Possible In Dissolution Of Partnership.(B) Continuation Of Business(II) Not possible in the dissolution of a firm.(C) Intervention of court(III) Dissolution of firm(D) Continuation of books of accounts(IV) Dissolution of partnership.Choose the correct answer from the options given below:

Anubha looked after the dissolution work for a remuneration of $\text{Rs. }8,500$ and agreed to bear dissolution expenses up to $\text{Rs. }6,00,0$. Actual expenses paid by her were $\text{Rs. }7,600$. What is the correct journal entry to record the remuneration payable to Anubha?(A) Realisation A/c is debited by $8,500$ (B) Anubha's Capital A/c is credited by $8,500$ (C) Realisation A/c is debited by $13,600$ (D) Anubha's Capital is credited by $13,600$ Choose the correct answer from the options given below:

As per AS-26, Intangible assets like goodwill should be written off:

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

Reserve capital is:

When capital accounts are maintained under the Fixed Capital method, additional capital introduced by a partner is recorded as a:

Upon the dissolution of a partnership firm, the amount of a loan taken from a partner by the firm is transferred directly to:

Discount on the issue of $8\%$ debentures is presented under which head in the balance sheet?

According to Section 52(2) of the Companies Act, 2013, the Securities Premium balance can be utilized for which of the following purposes?(A) Writing off preliminary expenses.(B) Issuing fully paid bonus shares.(C) Payment of dividends.(D) Buy-back of shares.Choose the correct answer from the options given below:

At the time of a partner's admission, if the actual Workmen Compensation Claim exceeds the existing Workmen Compensation Reserve, the excess amount is transferred to the:

Abhiram and Ragini are partners sharing profits in the ratio of $3:2$. They admit Arun as a new partner for a $\frac{1}{5}\text{th}$ share in the future profits of the firm. Arun acquires this share equally from Abhiram and Ragini. Calculate the new profit-sharing ratio of Abhiram, Ragini, and Arun.

Arrange the steps for accounting for a guarantee of profit to a partner in the correct sequence:(A) Divide the profit in the given ratio.(B) Prepare profit and loss appropriation account as usual.(C) Deduct the deficiency from the guaranteeing partner's share and add it to the guaranteed partner's share.(D) Find the deficiency.Choose the correct answer from the options given below:

In the case of an under-subscription of shares, which of the following statements is true?

Reconstitution of a partnership firm does not involve:

Cash Inflows from Financing Activities do not include:

The Operating Expense Ratio is classified as a/an:

Which of the following is an advantage of ratio analysis?

Cash received from the issue of debentures by a trading organization is classified under which activity in a cash flow statement?

Goods costing $\text{Rs. }80,000$ were sold at a profit of $20\%$ on sales. The amount of gross profit on this sale is:

A ________ is a dialog box that displays one complete record at a time and can be used to add, change, locate, and delete records.

Which Excel spreadsheet function returns the cumulative interest paid on a loan between two periods?

Which function is used to remove leading, trailing, and duplicate spaces from a text string?

The intersection of a row and a column in a spreadsheet is referred to as a:

Which of the following is NOT an accounting sub-system within a standard Accounting Information System (AIS)?

Which of the following statements are true with reference to a "company"?(A) The directors of the company are the owners of the company.(B) A company is an artificial person.(C) A company has its common seal.(D) The liability of the members of the company is limited to the extent of shares held by them.Choose the correct answer from the options given below: