CUET UG 2024 Accountancy Question Paper (17-May-2024) (Shift 3) - Free Mock Test (No Login)

Which of the following is an example of sequential code?

If there is no claim against Workmen Compensation Reserve, it is _______________ at the time of admission of a partner.Fill in the blank with the correct answer from the options given below.

$A$, $B$ and $C$ are partners sharing profits in the ratio of $3:3:4$. They decide to share the future profits equally. The sacrifice or gain of partners are:

Match List-I with List-II and choose the correct answer from the options given below:List-I (Equal amount of drawings made)(A) At the end of each half year(B) At the beginning of each quarter(C) At the beginning of each month(D) At the end of each quarterList-II (Number of month for which interest calculated)(I) $4.5$ months(II) $6.5$ months(III) $7.5$ months(IV) $3$ months

Kavita and Lalita are partners, sharing profits in the ratio of $2:1$. They decide to admit Mohan for $1/4\text{th}$ share in future profits with a guaranteed amount of $\text{₹ }25,000$. Both Kavita and Lalita undertake to meet the liability arising due to the guaranteed amount to Mohan in their respective profit-sharing ratio. The firm earned profits of $\text{₹ }76,000$ for the year 2022–23. The deficiency borne by Kavita is: