CUET Accountancy 2025 3 June Shift 1 PYQs

Arrange the following steps which involve the Super Profits Method of valuation of goodwill in the correct sequence:(A) Calculate the average profit.(B) Calculate the normal profit on the firm's capital on the basis of the normal rate of return.(C) Calculate goodwill by multiplying the super profits by the given number of years' purchase(D) Calculate the super profits by deducting normal profit from the average profits.Choose the correct answer from the options given below:

From an accounting point of view, arrange the following share capital of the company in the correct sequence:(A) Subscribed Capital(B) Authorized Capital(C) Called up Capital(D) Issued CapitalChoose the correct answer from the options given below:

Rajinder and Surinder are partners in a firm sharing profits in the ratio of $4:1$. On April 15, 2017, they admitted Narender as a new partner. On that date, there was a balance of $\text{Rs. }20,000$ in general reserve and a debit balance of $\text{Rs. }10,000$ in the profit and loss account of the firm. Which among the following statements is correct for transferring profit and loss account?

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

Nominal share capital is :