List of top Questions asked in CUET (UG)

Who formed DMK as political party in 1949?

What was the Status of Sikkim at the time of Independence of India?

Securities premium cannot be used:

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. Different interval of drawings
E. Rate of Interest
Choose the correct answer from the options given below:

Calculate the Normal Rate of Return if normal profit is ₹30,000, Assets 5,30,000 and liabilities ₹30,000, while calculating the value of goodwill of the firm at the time of admission of a partner. 1. 5.6% 2.6% 3.5.3% 4.5%

Capital employed by a Partnership firm is ₹ 5,00,00. Its average profit is Rs. 60,000. The normal rate of return in similar type of business is 10%. The amount of super profits of the firm will be :-

Identify that will lead to dissolution of partnership

Unrecorded assets when taken over by a partner on dissolution are shown in:

Profits made on Revaluation of Assets and Reassessment of Liabilities is distributed among whom?

Which of the following is not a charge against profit ?

Which of the following items are part of Intangible non current Assets:
A. Patents
B. Furniture
C. Statement of Profit & Loss A/c (Dr)
D. Goodwill
E. Trademark
Choose the correct answer from the options given below:

Salary of a partner is shown in

If at the time of admission, some positive balance of Profit and Loss A/C appears in the books, it will be transferred to:

Particulars	Amount (₹)
Inventory at the beginning	40,000
Credit Purchase	1,60,000
Inventory at the end	38,000
Trade payable at the beginning	14,000
Trade payable at the end	14,500

Cash paid for inventory is:

Match List I with List II

LIST I		LIST II
A	Employee benefit expenses	I	Investing activity
B	Dividend received	II	Operating activity
C	Loan raised	III	Extraordinary item
D	Proceeds from earthquake disaster management	IV	Financing activity

Choose the correct answer from the options given below:

A, B and C are partners sharing profits in the ratio of 3:2:1. D is admitted into firm for\(\frac{1}{4}\)th share of profit, which he gets \(\frac{1}{8}\) from A and \(\frac{1}{8}\) from B. Calculate new profit sharing ratio of all the partners.

Match List I with List II

LIST I		LIST II
A	Horizontal Analysis	I	Common size statement
B	Vertical Analysis	II	Comparative statement
C	External Analysis	III	Access to all published and unpublished information
D	Internal analysis	IV	Access only to published information

Choose the correct answer from the options given below:

In the absence of partnership agreement, mutual relations of partners are governed by the ________

Which of the following option regarding issue and redemption of debenture is not possible in general?

When a company reserve a portion of its uncalled capital to be called in the event of winding up, such uncalled capital is known as:-

Select the partner(s) who will compensate the deceased partner for the share of goodwill at the time of death.

A, B, C were partners in a partnership firm their profit sharing ratio was 5:3:2. B retires and the new profit sharing ratio between A and C was 3:2. Calculate gaining ratio.

The process of receiving minimum subscription of 90% of the entire issue must be completed within _____ days from date of issue of prospectus

Arrange the following in the context of Accounting for partnership.
A. Preparation for Trading and Profit and Loss Account.
B. Calculation of divisble profit or Loss.
C. Preparation of profit and loss Appropriation Account.
D. Preparation of Balance Sheet.
E. Preparation of partner's capital Account.
Choose the correct answer from the given below :

Arrange the following in the context of "Buy Back of Shares".
A. Articles of Association must authorise Buy Back of share
B. Buy Back should be completed within 12 months
C. Maintaining debt equity ratio of not more than 2:1 after Buy Back
D. Passing Special Resolution in annual general meeting
E. Filing solvency declaration with registrar and SEBI
Choose the correct answer from the options given below: