CUET Accountancy 2025 3 June Shift 1 PYQs

Match List-I with List-IIList–I (Events)List–II (Result)(A) Profit share(I) Gaining ratio.(B) Admission of Partners(II) Different concept(C) Retirement of a partner.(III) Equally among partners(D) Dissolution of firm and partnership.(IV) Sacrifice ratio.Choose the correct answer from the options given below:

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 themChoose the correct answer from the options given below:

In the case of the Dissolution of 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:

Match List-I with List-IIList–IList–II(A) Calls in Arrears(I) Shares are taken back by the company as shareholders failed to pay one or more installments, viz. allotment money and/or call money.(B) Calls in Advance(II) This is a situation where the number of shares applied for is less than the number for which applications have been invited for subscription.(C) Forfeiture of Shares(III) This is the amount which any shareholder fails to pay on allotment or on any of the calls.(D) Under Subscription(IV) Table 'F' of the Companies Act provides for the payment of interest on this call at a rate not exceeding 12% per annum.Choose the correct answer from the options given below:

The journal entries are as under:
$$\text{Incoming partner’s current A/c}\text{Dr.}$$
$$\text{To Sacrificing partners capital A/c}$$
What statement among the following is TRUE for the above entry?