CUET Accountancy 2025 24 May Shift 1 PYQs

By virtue of which section of the Indian Partnership Act 1932, partnership is defined as 'the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all'.

The Partnership Deed usually contains the following details:(A) Amount of capital to be contributed by each partner(B) The accounting period of the firm(C) Profit and loss sharing ratio(D) The rights, duties and liabilities of each partnerChoose the correct answer from the options given below:

On retirement or death of a partner, the remaining partners who have gained due to change in the profit sharing ratio should compensate the:

In case of dissolution of partnership firm, any liability assumed/paid by a partner is shown on ________?

Match List-I with List-IIList-I (Expenses)List-II (Explanation)(A) Purchase of Stock-in-trade(I) Expenses towards interest charges during the year on the borrowings(B) Employees benefit expenses(II) Diminution in the value of fixed assets(C) Finance cost(III) Purchases of goods for the purpose of trading(D) Depreciation(IV) Expenses incurred on employees towards salary, wages, leave encashment, staff welfare, etc.Choose the correct answer from the options given below: