CUET Questions — Accountancy

Q23. The following steps have been adopted for comparative statement analysis of financial statement of a company: A. Calculate the percentage change in individual items B. Draw interpretation and con

Q14. Which of the following is false for Not-for-profit organisation?

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

Q41. Identify the account/statement which is not required in case of Dissolution of partnership firm.

Q.29. While issuing the share capital for public subscription where there is no articles of association of its own, the following provisions of Table A will apply: (A) A period of one month must elaps

Q.26. The sum due to the retiring partner includes: (A) His share of profits up to the date of retirement. (B) His share of goodwill; (C) His share of accumulated profits; (D) His share in the gain of

Q46. Which Account will be debited to record default on payment of any call?

Q31. Match List I with List II LIST - I A. Voting Rights B. Artificial person C. Convertible D. Not secured by any charge LIST - II I. Debentures II. Shareholders III. Shares IV. Company Choose the co

Q.20. According to which section of the partnership Act 1932, the dissolution of a partnership between all the partners of a firm is called the dissolution of the firm?

Q33. Profit and Loss Suspense Account is debited at the time of death of partner_______.

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.