List of top Accountancy Questions asked in CUET (UG)

At the time of dissolution of a partnership firm, fictitious assets are transferred to the:
Calculate the amount of Profit after Tax if:
• Revenue from Operations: 4,00,000
• Cost of Revenue from Operations: \(20\%\) of Revenue from Operations
• Tax rate: \(50\%\)
Calculate Cash Flow from Financing Activities from the following information:
• Buy back of own shares: 1,00,000
• Issue of bonus shares: 50,000
• Current Year Proposed Dividend: 40,000
• Previous Year Proposed Dividend: 10,000
Which Accounting Standard governs the preparation of Cash Flow Statement?
In the absence of any information, the retiring/deceased partner’s share of profit will be acquired by the remaining partners in:
From the following details, calculate the interest coverage ratio:
Net Profit after tax: 1,80,000
Long-term debt: 20,00,000
Interest rate: 15\(\%\)
Tax rate: 40\(\%\)
Gori and Sori share profits in the ratio of 3:2. Hori was admitted as a partner who gets a \(\frac{1}{5}\) share, which Hori acquires \(\frac{3}{20}\)from Gori and \(\frac{1}{20}\) from Sori. The new profit sharing ratio of Gori, Sori, and Hori would be:
Pari, Param, and Prizleen are partners sharing profits and losses in the ratio of 5:3:2. Param retires. Her share is taken by Pari and Prizleen in the ratio of 2:1. Calculate the new profit sharing ratio of Pari and Prizleen.
Loss on realization of 84,000 was to be distributed between Sam and Shafiq (partners) in the ratio of 4:3 at the time of the dissolution of the partnership firm. Calculate the amount to be transferred to Shafiq’s capital account.
Balance Sheet provides information about the financial position of the enterprise:
Which of the following situations lead to reconstitution of a partnership firm?
(A) Death of a partner
(B) Retirement of a partner
(C) Admission of a partner
(D) Change in Profit sharing ratio among existing partners
If a share of 100 on which 80 was called up and 70 paid up was forfeited, state the amount with which the share capital account will be debited:
Which of the following are the Profitability Ratios?
(A) Debt Equity Ratio
(B) Return on Investment
(C) Price Earning Ratio
(D) Earning per share
Which of the following ratios are computed for evaluating solvency of the business?
Proprietary Ratio
Interest Coverage Ratio
Total Asset to Debt Ratio
Fixed Asset Turnover Ratio
The Balance in the Share Forfeited Account relating to reissue of forfeited shares will be treated as:
Read the following information carefully and answer the next five questions :
Particulars₹
Revenue from Operations8,75,000
Creditors90,000
Bills Receivable48,000
Bills Payable52,000
Purchases4,20,000
Trade Debtors59,000
Read the following information carefully and answer the next five questions :
G, K and B were partners running a partnership for last 10 years, sharing profit and loss in the ratio of 5 : 3 : 2. Post Covid, their firm was affected badly and started incurring losses. On 31st March, 2023 they all decided to dissolve the firm due to continuous losses. Their capital balances were ₹ 4,00,000, ₹ 3,00,000 and ₹ 2,00,000 respectively. Firm had liabilities ₹ 80,000, Cash balance ₹ 40,000, other Sundry Assets ₹ 8,50,000 and P&L A/c constituted the rest. Assets realised at 80% and liabilities were paid in full. There was unrecorded liability of ₹ 50,000 which was settled at ₹ 40,000. Realisation expenses amounted to ₹ 30,000, being paid by G on behalf of the firm.
Identify the correct sequence of the following steps involved in calculating cash flows from operating activities of a company:(A) Operating profit before working capital changes
(B) Cash generated from operations
(C) Income tax paid
(D) Net cash flow from operating activities
(E) Goodwill amortised
The Deceased Partners Capital Account includes the following amount/balances:
(A) Opening balance of his capital
(B) His share of profit/loss till the date of death
(C) His share of General Reserve
.(D) His drawings till the date of death
(E) Amount paid to his executors
Arrange the following in the correct order:
(A) Subscribed Capital
(B) Issued Capital
(C) Authorised Capital
(D) Paid-up Capital
(E) Called-up Capital
On dissolution of a firm, bank overdraft is transferred to
Arrange the following steps in the correct sequence of the life of a company:
(A) Commencement of Business
(B) Incorporation
(C) Promotion
(D) Floatation
The common fields used in a relationship between tables are called
Calculate the resulting cash flow and state the nature of cash flow from the following information:,
Acquired machinery for ₹3,50,000 by issuing cheque.
Which one of the following are correct in connection with the Common Size Statement?
(A) Expressed as a percentage on revenue from operation
(B) Horizontal analysis
(C) Vertical analysis
(D) Expressed as a percentage on total assets