CUET Accountancy 2025 30 May Shift 2 PYQs

Anupam and Abhishek are partners. Their capital accounts showed balances of Rs. 1,50,000 and Rs. 2,00,000 respectively on April 01, 2019. Show the interest on capital for the year ending March 31, 2020 allowed, if the partnership deed provides for interest on capital @ 8% p.a. and the firm earned a profit of Rs. 14,000 during the year:

Which combination of statements is true about dissolution?(A). Dissolution of a partnership is different from dissolution of a firm.(B). A partnership is dissolved when there is a death of a partner.(C). A firm is dissolved when all partners give consent to it.(D). A firm is compulsorily dissolved when a partner decides to retire.Choose the correct answer from the options given below:

In case of the dissolution of a firm, the firm ceases to conduct business and has to settle its accounts. Arrange in the correct manner and order the assets of the firm, including any sum contributed by the partners to make up for deficiencies of capital:(A) In paying to each partner proportionately what is due to him on account of capital(B) In paying the debts of the firm to the third parties(C) In paying each partner proportionately what is due to him/her from the firm for advances as distinguished from capital (i.e. partner's loan)(D) The residue, if any, shall be divided among the partners in their profit sharing ratioChoose the correct answer from the options given below:

Unrecorded liabilities when paid are shown in:

A partnership firm is dissolved compulsorily in the following cases:(A) when all the partners or all but except one partner, become insolvent, rendering them incompetent to sign a contract(B) When the business of the firm becomes illegal(C) Change in existing profit sharing ratio among partners(D) When some event has taken place which makes it unlawful for the partners to carry on the business of the firm in partnership, e.g., when a partner who is a citizen of a country becomes an alien enemy because of the declaration of war with his country and India. Choose the correct answer from the options given below: