Match List-I with List-II:List-IList-II(A) Profit and Loss adjustment A/c(I) Changes in amount of capital(B) Profit and loss appropriation A/c(II) Generally no change in amount of capital(C) Fixed capital A/c(III) Errors and omissions found after preparation of final A/c(D) Fluctuating capital method(IV) Extension of Profit & loss A/cChoose the correct answer from the options given below:
Q202mediummcqAccountancyCUET Accountancy2026
Accounting treatment for a partnership firm is similar to that of a sole proprietorship business except the following aspects:(A) Distribution of Profit and Loss among the partners(B) Dissolution of Partnership Firm(C) Raising Capital through public offering(D) Adjustments for Wrong Appropriation of Profits in the PastChoose the correct answer from the options given below:
Q203mediummcqAccountancyCUET Accountancy2026
Match List-I with List-II if the partnership deed is silent regarding the items provided in List-I:List-IList-II(A) Interest on Capital(I) to be shared equally(B) Interest on Loan(II) not charged(C) Interest on Drawings(III) not payable(D) Sharing of Profits(IV) @6% p.a.Choose the correct answer from the options given below:
Q204mediummcqAccountancyCUET Accountancy2026
A and B are partners, sharing profits equally. Their fixed capitals were Rs. 2,00,000 and Rs. 3,00,000 respectively. Interest on capital as provided under the partnership deed @10% p.a. was omitted. Select the correct option to perform the rectification adjustment:
Q205easymcqAccountancyCUET Accountancy2026
Which of the following entries correctly records the withdrawal of excess capital by a partner?
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