CUET Accountancy 2025 31 May Shift 1 PYQs

Jindal and Company purchased a machine from High Life Machine Limited for $\text{Rs. }3,80,000$. As per purchase agreement, $\text{Rs. }20,000$ were paid in cash and balance by issue of shares of $\text{Rs. }100$ each. Find the number of shares issued, if they are issued at par:

Match List-I with List-II
$$\begin{array}{ll}\text{List-I}& \text{List-II}\\ \text{(A) Redeemable Debentures}& \text{(I) The company does not give any undertaking for the repayment of money borrowed by issuing such debentures}\\ \text{(B) Convertible Debentures}& \text{(III) Which are payable on the expiry of the specific period either in lump sum or in installments during the life time of the company.}\\ \text{(C) Irredeemable Debentures}& \text{(III) Which are convertible into equity shares or in any other security either at the option of the company or the debenture holders.}\\ \text{(D) Unsecured Debentures}& \text{(IV) These do not have a specific charge on the assets of the company.}\end{array}$$
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Murli, Naveen and Omprakesh are partners sharing profits in the ratio of $\frac{3}{8}$, $\frac{1}{2}$ and $\frac{1}{8}$. Murli retires and surrenders $\frac{2}{3}\text{rd}$ of his share in favour of Naveen and the remaining share in favour of Omprakesh. The gaining ratio of the remaining partners is-

Steps involved in various accounting aspects of retirement or death of a partner -(A) Settlement of the amounts due to retired/deceased partner(B) Ascertainment of new profit sharing ratio and gaining ratio(C) Adjustment of capital, if required(D) Revaluation of assets and liabilitiesChoose the correct answer from the options given below:

Match List-I with List-II
$$\begin{array}{ll}\text{List-I}& \text{List-II}\\ \text{(A) Companies Limited by Shares}& \text{(I) A company which has only one person as a member.}\\ \text{(B) Companies Limited by Guarantee}& \text{(II) There is no limit on the liability of its members.}\\ \text{(C) Unlimited Companies}& \text{(III) The liability of its members is limited to the amount they undertake to contribute in the event of the company being wound up.}\\ \text{(D) One Person Company}& \text{(IV) The liability of its members is limited to the extent of the nominal value of shares held by them.}\end{array}$$
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