CUET Accountancy 2025 22 May Shift 1 PYQs

Ram and Laxman started business on 1st Jan 2020 with a capital of $\text{Rs. }1,20,000$ and $\text{Rs. }80,000$ respectively. Ram introduced $\text{Rs. }50,000$ to the firm on 1st July 2020 as additional capital. If the rate of interest is $15\%\text{ p.a.}$, assuming that accounts are closed as per calendar year, then the Interest payable to Ram on Capital would be:

The ratio in which the old partners agree to give their share of profit in favor of the incoming partner is called:

When realisation expenses are paid by the firm on behalf of a partner, which among the following will be debited:

The assets of the firm, including any sum contributed by the partners to make up deficiencies of capital, shall be utilized in which sequence? Arrange the following in proper sequence:(A) In paying the debts of the firm to the third parties
(B) In paying each partner proportionately what is due to him/her from the firm for advances as distinguished from capital (i.e. partner's loan)
(C) In paying to each partner proportionately what is due to him on account of capital
(D) The residue, if any, shall be divided among the partners in their profit sharing ratioChoose the correct answer from the options given below:

If, at the time of admission of a new partner, profit and loss account appears in the books, it will be transferred to:

Which of the following will be credited for the excess amount received along with allotment money from the shareholders?

Which of the following is incorrect about the minimum subscription?Minimum subscription is the minimum amount that, in the opinion of directors, must be raised to meet the needs of business operations of the company relating to:

Which accounting standard is applicable for recognizing intangible assets?

In which order, the share capital of the Company is shown on the balance sheet:(A) Authorized Capital
(B) Subscribed and fully paid up Capital
(C) Issued Capital
(D) Subscribed but not fully paid upChoose the correct answer from the options given below:

Which of the following factors affects the value of goodwill?(A) Location of Business
(B) Partners Performance
(C) Nature of Business
(D) Market SituationChoose the correct answer from the options given below:

Gupta Ltd. issued 1,000 equity shares of $\text{Rs. }100$ each as fully paid-up, to the vendor, in consideration of the purchase of plant and machinery worth $\text{Rs. }1,00,000$. Which of the following entry will be recorded in the company's journal for it?

R, S and K are partners sharing profits in the ratio $8:6:4$. On the retirement of R, the new profit sharing ratio between S and K was decided to be $5:3$. The Gaining ratio is:

The reserve fund at the time of admission of a new partner is transferred to:

G, H and P are partners. On retirement of G, the goodwill already appears in the Balance Sheet at $\text{Rs. }24,000$. The goodwill will be written-off:

Which of the following indicates the other name of 'Nominal Capital'?

A new partner can be admitted:

When the date of drawing is not specified, interest on drawings is calculated for:

Which of the following statement is incorrect?

In the absence of any information regarding the acquisition of share in profits of the retiring/deceased partner by the remaining partners, it is assumed that they will acquire his/her share in ________.

Match List-I with List-II:List-IList-II(A) Admission of a New Partner(I) Realisation Account(B) Retirement of a Partner(II) Sacrificing ratio(C) Dissolution of Partnership(III) Executors Account(D) Death of A Partner(IV) Gaining RatioChoose the correct answer from the options given below:

The Central Government has prescribed the maximum number of partners in a firm to be _______

Partner's current accounts are transferred to the respective partners' ________ at the time of dissolution of a partnership.

K, N and P are partners sharing profits and losses in the ratio of $4:3:2$. N retires and the goodwill is valued at $\text{Rs. }72,000$. K and P decided to share future profits and losses in the ratio of $5:3$. Find which of the following statements is not correct?

Choose the correct statement if a partnership deed does not exist.

At the time of retirement of a partner, undistributed profits appearing in the balance sheet of the old firm is transferred to the capital account of:

Which statements are correct about capital reserve?(A) It is necessary to create capital reserves out of capital profits, if any.
(B) It cannot be used to issue bonus shares.
(C) It can be used to write off capital losses or to issue bonus shares any time during the lifetime of the company.
(D) It is not shown on the company balance sheet.Choose the correct answer from the options given below:

One of the partners took-over furniture at the time of dissolution of the firm, which account will be debited?

A and B are partners sharing profits equally with capitals of $\text{Rs. }45,000$ each. They admitted C as a new partner for $\frac{1}{3}\text{rd}$ share in the profit. C brings $\text{Rs. }60,000$ as his capital. Find the goodwill of the firm.

All adjustments in respect of partner's salary, partner's commission, interest on capital, interest on drawings, etc. are made through:

In case of the dissolution of a firm, the firm ceases to conduct business and has to settle its accounts. Losses, including deficiencies of capital, shall be paid in the following manner and order:(A) Out of capital of partners.
(B) By the partners individually in their profit sharing ratio.
(C) Profits.Choose the correct answer from the options given below:

Which of the following is not a feature of a company?

As per Table F, the rate of interest provided on calls in advance can't exceed ........... p.a?

In the case of a dissolution of a firm, accumulated losses are transferred to:

In the event of retirement of a partner, which of the following deductions has to be made from his/her share?

In the case of the Dissolution of a partnership firm, which accounts are opened:(A) Realization Account
(B) Revaluation Account
(C) Partners Capital Account
(D) Bank AccountChoose the correct answer from the options given below:

Which of the following company, by its articles, restricts the right to transfer its shares?

In the event of the death of a partner, the ratio in which the continuing partners acquire the share from the deceased partner is called .......

Dissolution of a firm takes place on the happening of certain contingencies in the following cases:(A) By the death of a partner
(B) By the adjudication of a partner as an insolvent
(C) When the business of the firm becomes illegal
(D) If constituted for a fixed term, by the expiry of that termChoose the correct answer from the options given below:

What does 'E' stand for in ESOP?

A and B share profits in the ratio of $3:2$. C was admitted as a partner who gets $\frac{1}{5}$ share. New profit sharing ratio, if C acquires $\frac{3}{20}$ from A and $\frac{1}{20}$ from B, would be:

When a firm is dissolved with the consent of all the partners, it is called:

Yadu, Madhu and Vidu are partners, sharing profit and losses in the ratio of $2:2:1$. Their fixed capitals on April 01, 2018 were: Yadu $\text{Rs. }5,00,000$, Madhu $\text{Rs. }4,00,000$ and Vidu $\text{Rs. }3,50,000$.As per the partnership deed, partners are entitled to interest on capital $@5\%\text{ p.a.}$ and Yadu has to be paid a salary of $\text{Rs. }2,000$ per month. The net loss of the firm as per profit and loss account for the year ending March 31, 2019, amounted to $\text{Rs. }75,000$. On the basis of the profit and loss appropriation account, Partners' distribution of loss would be:

Interest on calls-in-arrears is charged according to 'Table F' at the rate of ....... p.a?:

M and N are partners in a firm and agree that an interest $@12\%$ per annum should be charged on drawings. M draws $\text{Rs. }20,000$ per month at the beginning of each month. The amount of interest to be charged from M is:

Which company doesn't restrict the right to transfer its shares?

Analysis simply means __________ data.

While preparing financial statements on certain basic assumptions such as going concern, money measurement, and realization etc, they are known as:

Which of the following are the objectives of Ratio Analysis?(A) To know the areas of the business which need more attention.
(B) To provide a deeper analysis of the profitability, liquidity, solvency and efficiency levels in the business.
(C) To know about the potential areas which can be improved with the effort in the desired direction.
(D) To provide information derived from financial statements useful for making projections and estimates for the future.Choose the correct answer from the options given below:

Given the following information:ParticularsAmount (Rs.)Revenue from Operations3,40,000Cost of Revenue from Operations1,20,000Selling expenses80,000Administrative Expenses40,000Calculate Operating ratio.

If the net profits made during the year are $\text{Rs. }50,000$ and the bills receivables have decreased by $\text{Rs. }10,000$ during the year, then the cash flow from operating activities will be equal to:

Sequential codes are applied primarily to source documents such as ...........?

Match List-I with List-II:List-I (Movement)List-II (Keystroke)(A) One cell down(I) Left arrow key(B) One cell up(II) Right arrow key or Tab key(C) One cell left(III) Down arrow key or Enter key(D) One cell right(IV) Up arrow keyChoose the correct answer from the options given below:

The following elements are important for salary computation and its payment:(A) Grade Pay (GP)
(B) Dearness Allowance (DA)
(C) Transport Allowance (TRA)
(D) Goods and Service Tax (GST)Choose the correct answer from the options given below:

Which combination is true in respect of using a graph/chart?(A) Quicker and easier to create a chart immediately to see the possible relationship of variables to one another, rather than paging through raw data.
(B) Provide information in as little time as possible.
(C) Graphs do not have the ability to take large amounts of information and make them into exhibitions that are easily used to persuade
(D) A graph may be either a single line graph or a multi-line graph.Choose the correct answer from the options given below:

Following are the steps related to preparation of charts, arrange them in a correct sequence.(A) Save a chart.
(B) Create a basic chart using the pattern from the panel available on top of the worksheet in 'Chart groups' option.
(C) Change the layout or style of chart
(D) Enter data on a worksheet with proper column and row titles.Choose the correct answer from the options given below: