CUET Accountancy 2025 29 May Shift 2 PYQs

The new partner acquired the rights on admission into the firm. He acquires :(A) Rights in past profits of firm before admission.(B) Right to share in the future profits of the firm.(C) Right to share assets of the firm.(D) The right to carry on competing business.Choose the correct answer from the options given below:

The steps followed for calculating interest on drawing in the product method are:(A) Calculate number of month for which interest is due on each drawing(B) List down amount of drawing in decending order in a table..(C) find the total of product and apply the formula to calculate interest on drawing.(D) Calculate product for each drawing by multiplying amount and number of month.Choose the correct answer from the options given below:

A, B, and C were in partnership, sharing profits in the ratio of $3:2:1$ respectively. B retires and the new profit sharing ratio between A and C is $3:2$. The gaining ratio is:

Match List-I with List-IIList-IList-II(A) Compulsory Dissolution(III) Business becomes illegal(B) Dissolution by notice(IV) Partnership at will(C) Dissolution by Court(I) Partner becomes insane(D) Dissolution on certain contingencies(II) Death of a partnerChoose the correct answer from the options given below:

At the time of dissolution, a firm transferred Rs.100,000 Assets to the realization account and 50% of the assets were taken over by Kiran at 20% discount. How much net assets were taken over by Kiran?