CUET Accountancy 2025 31 May Shift 1 PYQs

According to section .......... of the Partnership Act, 1932, the dissolution of partnership between all the partners of a firm is called the dissolution of the firm.

When journal entry for forfeiture of shares is recorded in the Company's books, the Share Capital Account -

The Profit on reissue of forfeited shares is transferred to :

Match List-I with List-II
$$\begin{array}{ll}\text{List-I (Method of Valuation)}& \text{List-II (Formula)}\\ \text{(A) Average profit method}& \text{(I) Goodwill = Super profit }\times \text{ No. of years purchased}\\ \text{(B) Super Profit Method}& \text{(II) Goodwill = Capitalized value of average profit - Actual firm’s capital.}\\ \text{(C) Capitalization of super profit method}& \text{(III) Goodwill = Average Profits }\times \text{ No. of years purchased}\\ \text{(D) Capitalization of average profit method}& \text{(IV) Goodwill = }\left(\frac{\text{Super profit}}{\text{Normal Rate of Return}}\right)\times 100\end{array}$$
Choose the correct answer from the options given below:

After transferring liabilities like creditors and bills payables in the Realisation Account, in the absence of any information regarding their payment, such liabilities are treated as: