List of top Accountancy Questions asked in CUET (UG)

Match List-I with List-II.

List-I	List-II
(A) Capital Reserve	(I) Cash and Cash Equivalent
(B) Call in advance	(II) Intangible Fixed Assets
(C) Licence and Franchise	(III) Other Current Liabilities
(D) Marketable Securities	(IV) Reserve and Surplus

Which of the following are the Profitability Ratios?
(A) Debt Equity Ratio
(B) Return on Investment
(C) Price Earning Ratio
(D) Earning per share

Match List-I with List-II.

List-I	List-II
(A) Nominal Capital	(I) Offered to the public
(B) Reserve Capital	(II) Called up capital minus calls in arrears
(C) Paid up Capital	(III) Memorandum of Association
(D) Issued Capital	(IV) Called only at the time of winding up

Match List-I with List-II.

List-I	List-II
(A) Dissolution by notice	(I) Partnership at will
(B) Dissolution by agreement	(II) When a partner becomes insane
(C) Dissolution by court	(III) With the consent of all partners
(D) Compulsory Dissolution	(IV) When the business of the firm becomes illegal

Match List-I with List-II.

List-I	List-II
(A) Test of Activity	(I) Acid Test Ratio
(B) Test of Liquidity	(II) Debt Equity Ratio
(C) Test of Solvency	(III) Debtor Turnover Ratio
(D) Test of Profitability	(IV) Return on Investment Ratio

The Balance in the Share Forfeited Account relating to reissue of forfeited shares will be treated as:

The journal entry for treatment of goodwill, when a new partner brings his share of goodwill in cash and one of the old partners gains, involves the following
(A) Gaining Partner’s Capital Account is debited
(B) Premium for Goodwill Account is debited
(C) Sacrificing Partner’s Capital Account is credited
(D) Gaining Partner’s Capital Account is credited

Anshu and Nitu are partners sharing profits in the ratio of 3:2. They admitted Jyoti as a new partner for 3/10 share. Jyoti acquired 2/10 from Anshu and 1/10 from Nitu. Calculate the new profit sharing ratio of Anshu , Nitu and Jyoti

Kavita and Lalita are partners sharing profits in the ratio of 2:1. They decide to admit Mohan for 1/4th share in future profits with a guaranteed amount of ₹25,000.Both Kavita and Lalita undertake to meet liability arising due to gauranteed amount to Mohan in their respective profit sharing ratio. The firm earned profits of ₹76,000 for the year 2022-23. The deficiency borne by Kavita is

Match List-I with List-II.

List-I (Equal amount of drawings made)	List-II (Number of month for which interest calculated)
(A) At the end of each half year	(I) 4.5 months
(B) At the beginning of each quarter	(II) 6.5 months
(C) At the beginning of each month	(III) 7.5 months
(D) At the end of each quarter	(IV) 3 months

Choose the correct answer from the options given below :

A, B, and C are partners sharing profits in the ratio of 3:3:4. They decide to share future profits equally. The sacrifice or gain of partners are

If there is no claim against Workmen Compensation Reserve, it is __________ at the time of admission of a partner
Fill in the blanks with the correct answer from the option given below

Which of the following is an example of sequential code?

A partnership can have maximum 50 partners. This limit has been set by the

Dividend received is

On the date of admission of a partner, there was a balance of ₹45,000 in the account of machinery. It was found undervalued by 10%. The value of machinery will appear in the new Balance Sheet at

A company can accept calls in advance, if authorized by

If a delay occurs beyond 8 days in refunding the subscription amount, failing to gather the minimum subscription, from the date of closure of the subscription list, the company shall be liable for interest at the rate of

Arrange the following in the correct sequence in the context of debenture:
(A) Payment to debenture-holders
(B) Creation of DRR
(C) Issue of debentures
(D) Redemption becomes due.

Match List-I with List-II

List-I (Name of account to be debited or credited, when shares are forfeited)	List-II (Amount to be debited or credited)
(A) Share Capital Account	(I) Debited with amount not received
(B) Share Forfeited Account	(II) Credited with amount not received
(C) Calls-in-arrears Account	(III) Credited with amount received towards share capital
(D) Securities Premium Account	(IV) Debited with amount called up

Choose the correct answer from the options given below:

When debentures are issued at premium and redeemed at premium, the journal entry will have the following combination:
(A) Discount on issue of debentures account is credited
(B) Loss on issue of debentures account is debited
(C) Security premium account is credited
(D) Premium on redemption of debentures account is credited

400 shares of ₹50 each issued at par were forfeited for non-payment of final call of ₹10 per share. These shares were reissued at ₹45 per share as fully paid-up. The amount transferred to capital reserve is

The components of computerized accounting system refer to:

S and T are partners in a firm sharing profits in the ratio of 3:2. They admit U as a new partner. S surrenders \(\frac{1}{4}\) of his share and T surrenders 1/3 of his share in favour of U. Sacrificing ratio of S and T will be:
Choose the correct answer from the options given below: