CUET Accountancy 2025 3 June Shift 2 PYQs

Which market conditions enable firms to earn high/supernormal profits over an extended period due to lack of competitive substitutes?

Dissolution of a partnership firm may be ordered by the court on the following grounds:(A) when a partner becomes insane.(B) when a partner becomes permanently incapable of performing his duties as partner.(C) when a partner acts in good faith.(D) when it is regarded just and equitable by the court.Choose the correct answer from the options given below:

Hem and Nem are partners in a firm sharing profits in the ratio of $3:2$. Their capitals were $\text{Rs. }80,000$ and $\text{Rs. }50,000$ respectively. They admitted Sam on Jan. 1, 2017 as a new partner for $\frac{1}{5}$ share in the future profits. Sam brought $\text{Rs. }60,000$ as his capital. Calculate the value of the goodwill of the firm:

The dissolution of partnership may take place in any of the following ways EXCEPT:

Which statement is NOT false (i.e., true), in respect of the dissolution of a partnership firm?