CUET Questions — Accountancy

Q33. State the order of steps required for valuation of goodwill by using super profit method. A. Calculate Normal Profit B. Calculate Average Profit C. Calculate Super Profit D. Calculate Goodwill E.

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

Q.40. The steps involved in calculation of Goodwill under Super Profit method are: (A) Calculate the super profits by deducting normal profit from the average profits, (B) Calculate the normal profit

Q.44. What is the amount of profit to be credited to A's Capital account?

Q15. State the sequence of payments in case of dissolution of a partnership firm: A. To pay outside liabilities of the business B. To pay partner's loan (if any) C. To utilise the amount in settlement

Q28. In case of dissolution of the firm, partner's capital account are closed through:

Q26. The dissolution of partnership firm takes place in following order. A. Outsiders' liabilities are paid out. B. Partner's capital account is settled. C. All assets and outside liabilities are tran

Q38. Out of the following identify which is not cash and cash equivalent.

Q.3. X Ltd., has a current ratio of 3:1 and quick ratio of 2:1. If excess of current assets over quick assets, represented by inventories is Rs. 5,000, calculate current assets and quick assets.

Q.16. A trader carries an average inventory of Rs. 40,000. His inventory turnover ratio is 8 times. If he sells goods ata profit of 20% on Revenue from operations, find out the gross profit.