CUET Questions — Accountancy

Q.35. Match List-I with List-II List-1 (A) Payment of loans due to partners (B) For settlement of partners' accounts, in case their capital account shows a debit balance (C) For settlement of loan by

Q31. M and N are partners sharing profit in the ratio of 3:1. They admit O as a new partner on 1st April, 2022. O brings 40,000 as his share of premium and the new profit-sharing ratio is 2:2:1. Ident

Q40. Select the conditions required for computing interest on drawings using average period method: (A) Equal amount of drawings (B) Fixed interval of drawings (C) Varying amounts of drawings (D) Diff

Q37. Identify the period, from the date of acquisition, for which an investment normally qualities as cash equivalents.

Q19. In the absence of only information regarding the acquisition of share in profit of the retiring partner by the remaining partners, it is assumed that they will acquire his/her share in:

Q48. At time of forfeiture of Rohan's shares, Forfeited Shares A/c will be credited by _______.

Q1. How the following items of prize fund will be shown in balance sheet: Details Amt. Dr. Amt. Cr. Prize fund ₹80,000 Prize fund Investment ₹80,000 Income from prize fund investment ₹8,000 Prizes awa

Q44. 'Discount on issue of debenture', which is to be written off under one operating cycle is shown under:- (a) Other Non-current Assets (b) Other Current Assets (c) Other Non-current Liabilities (d)

Read the following information and answer the questions Q41-Q45: On 1st April 2013, a company made an issue of 10,000, 9% debentures of ₹100 each at 92 per debenture. The terms of issue provided for r

Q25. Consider the following facts related to Revaluation Account, its adjustments and treatment of reserves. A. Revaluation profit is distributed in the capital ratio of the partners. B. Revaluation A

Q.43. In which ratio the deficiency of T will be borne by A & V.

Q.21. Which of the following is correct? The important provision affecting partnership accounting, in the absence of a partnership deed is:

Q47. Identify the amount by which bank account would be debited/credited on refund of rejected applications

Q21. Match List I with List II LIST I A. AS-3 B. AS-26 C. Section 2(62) of Companies Act, 2013 D. Section 43 of Companies Act, 2013 LIST II I. Treatment of Goodwill II. One person company III. Prefere

Q25. Given below is the financial information of a NPO Mahamaya Sports Club for the year ending 31-03-2022. Particulars ₹ Match Expenses 32,000 Match Fund 16,000 Donation for Match Fund 10,000 Sale of

Q30. At the time of dissolution of partnership firm, following accounting adjustments are considered:- A. Partner's current A/C are transferred to respective partner's loan A/C. B. Accumulated losses

Q.23. Debenture Application & Allotment A/c Dr. 95,000 Loss on Issue of Debentures A/c Dr. 10,000 Το 9% Debenture A/c 1,00,000 To Premium on Redemption of Debentures A/c 5,000 On the basis of the abov

Q5. What are the accounting aspects that are involved at the time of retirement or death of a partner. (A) Ascertainment of profit or loss upto the date of retirement or death of partner. (B) Realisat

Q8. Anita and Bindu are partner in firm sharing profits in the ratio of 3:2. they admitted Meria as a new partner for 1/4 share. the new profit-sharing ratio between Anita and Bindu will be 2:1. What

Q.47. What is the amount of excess application money credited to share allotment and money refunded on rejected application in totality?