CUET Accountancy 2025 30 May Shift 2 PYQs

Select the INCORRECT statement from the below given statements:

A business has earned average profits of Rs. 1,00,000 during the last few years and the normal rate of return for a similar business is 10%. Ascertain the value of goodwill by capitalization of average profits method, given that the value of net assets of the business is Rs. 8,20,000.

Match List-I with List-IIList-I (Type of Debenture)List-II (Explanation)(A) Secured Debentures(I) These debentures do not have a specific charge on the assets of the company.(B) Irredeemable Debentures(II) These debentures are those which are payable on the expiry of the specific period either in lump sum or in installments during the lifetime of the company.(C) Unsecured Debentures(III) It refers to those debentures where a charge is created on the assets of the company for the purpose of payment in case of default.(D) Redeemable Debentures(IV) These debentures are repayable on the winding-up of a company or on the expiry of a long period.Choose the correct answer from the options given below:

A company maintains 'Calls in Arrears' Account. What entry will be passed on receiving first call money provided the whole amount due on it is not received?

Rohit and Mohit are partners in a firm sharing profits in the ratio of $5:3$. They admitted Bijoy as a new partner for $\frac{1}{7}\text{th}$ share in the profit. The new profit sharing ratio will be $4:2:1$. What will be the sacrificing ratio of Rohit and Mohit?