CUET Accountancy 2025 3 June Shift 2 PYQs

Arrange the following in the correct chronological/legal order in which assets of the firm must be utilized during the settlement of accounts upon dissolution (Section 48 of Indian Partnership Act):(A) Residue shall be divided between the partners in their profit sharing ratio.(B) In paying the partners proportionately what is due to him/her on account of capital.(C) In paying the partners proportionately what is due to him/her from the firm for advances/loans.(D) In paying the debts of the firm to the third parties.Choose the correct answer from the options given below:

At the time of dissolution, if an asset is taken over by a partner, what journal entry will be recorded in the books of the firm?

Which of the following is a key feature of the Fixed Capital Method in Partnership Accounts?

Discount on issue of 8% debentures (to be written off within 12 months from the reporting date) is shown in the balance sheet as:

Identify the type of Share Capital, which is clearly shown in the Notes to Accounts, but not included in the main column total of the Balance Sheet under the SHARE CAPITAL head: