List of top Accountancy Questions asked in CUET (UG)

In case of dissolution of firm, Assets shall be applied in the order of -
A. Paying loan from Partners.
B. Paying secured debts of the firm
C. Paying Partners Capital in proportion
D. Paying unsecured debts of the firm
E. The residue shall be divided among the partners in their Profit sharing ratio.
Choose the correct answer from the options given below :
Identify the correct sequence to be followed at the time of Death of Partner :
A. Calculation of gaining Ratio.
B. Treatment of goodwill
C. Calculation of new Profit Ratio
D. Calculation of Amount transferred to Decreased Partner's Executor
E. Preparation of deceased Partner Capital Account
Choose the correct answer from the options given below :
The old profit sharing ratio among A, B and C were 2:2:1. The new Profit sharing ratio after B's retirement is 3:2. The gaining ratio is-
Given below are the extracts of information from Financial statements of Zucca Ltd.
Particular2020-212021-22
Equities and Liabilities  
Share holder's funds  
Reserve and Surplus (Statement of Profit and Loss)4,00,0007,00,000
Current liabilities :- Dividend Payable 40,000
Calculate amount of Net Profit after tax, if an interim dividend of ₹ 2,00,000 was declared and paid.
Data Ltd. purchased assets of the book value ₹ 4,00,000 and took over the liability of ₹ 50,000 from Sona Ltd. It was agreed that purchase consideration will be settled by cheque of ₹ 1,00,000 and by issue of ₹ 2,00,000. 10% debentures at premium of 25%. The Amount of goodwill/capital reserve will be
Company issues 10,000, 12% debentures of ₹ 100 each at par, redeemable at premium of 5% after 5 years. At the time of allotment; journal Entry will be :
Debentures can be redeemed in following ways except :-
Royan Ltd. issued 1,00,000 9% debentures of ₹100 each to public. Issue was subscribed. The amount will be shown as :
Arrange the following in the context of Issue of shares
A. Making calls on shares
B. Reissue of fortified shares
C. Calls in Arrear
D. Transferring profit on reissue of shares to Capital Reserve
E. Forfeiture of shares
Choose the correct answer from the options given below :
Method of codification should be :
Match List I with List I
List IList II
A.Revaluation ReserveI.Share Capital
B.Issued CapitalII.Other Non current Assets
C.Discount on issue of debenturesIII.Inventories
D.Loose toolIV.Reserve and Surplus
Choose the correct answer from the options given below :
Which of the following item is not considered as cash and cash equivalent ?
The term 'record' as applied to a database table mean :
From the following Particulars, calculate cash flow from investing activities :-
A plot of land been purchased for investment purpose and was let out for commercial use and rent received ₹ 30,000.
Interest paid on debentures ₹ 60,000
Purchase of Plant ₹ 4,40,000
Goodwill written off ₹ 20,000
Sale of Land ₹ 5,00,000
On a Dissolution of a firm, repayment of Partner's loan to the firm will be shown in :
At the time of dissolution of partnership firm, debtors were realised at a discount of 5% (Book value was ₹ 48,000), Amount realised at the time of dissolution was -
As per the Financial Statement of X ltd, its shareholder's funds are ₹ 25,00,000. Non current liabilities are ₹ 4,80,000 and current liabilities are ₹ 10,00,000. Non current assets are ₹ 13,80,000. Working capital of the company is :
Alia and Deepika are partners in a firm. They admitted Priyanka into partnership giving her \(\frac{1}{5}\)th share which she acquired from Alia and Deepika in the ratio of 1:2. What will be the new profit sharing ratio ?
At the time of admission of a new partner, general reserve appearing in the old Balance Sheet is transformed to :-
Radhika and Raman are the partners in a firm sharing Profits in the ratio of 7:3. They admitted Kamal as a new partner for \(\frac{1}{10}\)th share. Kamal brings ₹ 19,75,000 as his capital and necessary share for premium for goodwill. It was agreed to value the goodwill at 3 years purchase of super profit. During the year, the firm earned a profit of ₹ 4,50,000 and capital employed ₹ 17,50,000. If normal rate of return is 15%, calculate the amount that Kamal should bring in for goodwill.
At the time of retirement of a Partner, gain on revaluation will be credited to :
From the trial balance and other information provided by school for the year ended 31st March 2017.Answer the question.
Debit BalanceAmount (₹)Credit BalanceAmount (₹)
Building6,25,000Admissions fees12,500
Furniture1,00,000 Tuition fees received5,00,000
Library Books1,50,000 Creditors for supplies15,000
Investment @12%5,00,000Rent for the school hall10,000 
Salaries5,00,000Miscellaneous receipts30,000 
Stationery 40,000Government grant3,50,000  
General expenses18,000 General fund10,00,000 
Sports expenses15,000Donation for library books62,500
Cash at bank50,000 Sale of old furniture20,000
Cash in hand 2,000  
 20,00,000  20,00,000
Additional Information:
i. Tuition fee yet to be received for the year are ₹25,000.
ii. Salaries yet to be paid amount to ₹30,000.
iii. Furniture costing 40,000 was purchased on October 1,2016.
iv. The book value of the furniture sold was ₹50,000 on April 1, 2016
v. Depreciation is to be charged @ 10%p.a. on furniture, 15% p.a. on Library books, and 5% p.a. on building.
Eicher Ltd. issued 50,000 shares of 10 each at a premium of 15 per share payable as follows:
On application     ₹3 per share
 On allotment       ₹5 (including 3 Premium)
 On First Call         ₹5 (including 2 Premium)
On Final Call          Balance amount
Application were received for 72,000 shares. Directors allotted 50,000 shares to the applicants applying for 65,000 shares, the remaining applications being refused. Money overpaid on application was utilised towards sum due on allotment. All the money was duly received with the exception of first call from Rahul, who applied for 2,600 shares. Due to nonpayment of Ist call his share were forfeited immediately. Later on these share were re-issued at minimum issue price. 
  On the basis of following case study, answer the question.
As per Receipts and Payments Account for the year ended on March 31, 2020, subscriptions received were ₹ 2,50,000 subscriptions outstanding on 1-04-2019 ₹ 50,000, Subscriptions received in advance as on 31-3-2020 are ₹ 30.000. Subscriptions for the year 2019-20 will be:
At the time of admission of a new partner general reserve appearing in the old balance sheet is transferred to_______