List of top Accountancy Questions asked in CUET (UG)

In the books of a partnership firm maintaining fluctuating capital accounts, which of the following appropriations or adjustments would result in a credit to the Partners' Current Accounts?

A graph has at least how many axes

Arrange the following steps related to freezing the formula using paste special command in logical sequence
(A) Click on Home Tab and select Copy symbol
(B) In the Paste Special box, under paste select the radio button next to Values and click OK
(C) Select the cell (s) that contains the formula
(D) Click on Paste tab and select Paste Special
Choose the correct sequence from the options given below:

Which of the following arguments in a financial function represents the total number of payments?

Match List-I with List-II

List-I	List-II
(A) Ranges	(I) Holds either row or column constant when the formula or function is copied to another location
(B) Mixed reference	(II) Used when we want a cell reference to stay fixed on specific cell
(C) Absolute reference	(III) As a formula or function is copied and pasted to other cells, the cell references in the formula or function change to reflect the new location
(D) Default reference	(IV) Identified by cell references of the cells from the upper left to lower right

Choose the correct answer from the options given below:

Which financial analysis is also known as 'horizontal analysis'?

Which of the following is not the advantage of Computerised Accounting System (CAS)?

The current ratio of a firm is 2 : 1. If the firm purchased goods on credit, then how will it affect its current ratio?

From the following details, calculate interest coverage ratio: Net Profit after tax Rs. 1,20,000; 15% Long-term debt 20,00,000; and Tax rate 40%.

Arrange the following items related to the Statement of Profit and Loss in a sequence:
(A) Profit before extraordinary items and tax
(B) Profit before tax
(C) Cost of materials consumed
(D) Revenue from operations
Choose the correct answer from the options given below:

Match List-I with List-II

List-I	List-II
(A) Receipt from royalties, fees, commission and other revenue	(I) Investing Activity
(B) Receipt from Interest and dividends	(II) Operating Activity
(C) Proceeds from issue of preference or equity shares	(III) Cash and Cash equivalent
(D) Current Investment	(IV) Financing Activity

Choose the correct answer from the options given below:

Match List-I with List-II

List-I (Cases for payment of realization expenses)	List-II (Journal entry)
(A) When realisation expenses are incurred and paid by the firm	(I) Realisation A/c Dr. To Partner's Capital A/c
(B) When realisation expenses are paid by a partner on behalf of the firm:	(II) No entry is required
(C) When a partner has agreed to bear the realisation expenses and the realisation expenses are paid by the firm	(III) Realisation A/c Dr. To Bank A/c
(D) When a partner has agreed to bear the realisation expenses and the partner himself pays the realisation expenses.	(IV) Partner's Capital A/c Dr. To Bank A/c

Choose the correct answer from the options given below:

Under which of the following cases, the Court can order the dissolution of a partnership firm?
(A) When a partner persistently commits breach of partnership agreement.
(B) When a partner has transferred the whole of his interest in the firm to a third party.
(C) By the death of a partner.
(D) When the business of the firm cannot be carried on except at a loss.
Choose the correct answer from the options given below:

At the time of the dissolution of a partnership firm in which X, Y and Z were partners sharing profit in 2:2:1 ratio, the following information was made available. Arrange them in the sequence in which they will be paid.
(A) A's Loan to the firm Rs 50,000
(B) Creditors Rs 2,00,000
(C) A's Capital Rs 2,50,000 , B's Capital Rs 2,00,000 and C's Capital Rs 1,00,000
(D) Balance available after settlement of all the stakeholders.
Choose the correct answer from the options given below:

At the time of dissolution of a partnership firm, the stock appeared in the books was Rs 35,000. One of the partner took over 50% of the stock at 10% less than its book value, and the remaining stock was sold at a gain of 15%. Find the total amount realized from the stock in cash.

A, B and C constituted a partnership to carry out a venture to build offices for Zakash Office Sites Ltd. On the completion of venture under which way the dissolution of a firm will takes place?

H Ltd. purchased machinery worth Rs.99,000 from P Ltd. The payment was made by issue of 12% debentures of Rs.100 each. Pass the necessary journal entries for the issue of debentures when debentures are issued at 10% discount in the books of H Ltd.

200 shares of Rs.100 each issued at a premium of Rs.10 were forfeited for the non-payment of allotment money of Rs.60 per share including premium. The first and final call of Rs.20 per share on these shares were not made. The forfeited shares were reissued at Rs.70 per share as fully paid-up. Find the amount of capital reserve.

Nominal share capital is ?

A Limited issued 5000, 10% debentures of Rs. 100 each, at a premium of Rs. 10 per debenture payable as follows:
On application Rs. 25, On allotment Rs. 45 (including premium), On first and final call Rs. 40.
The debentures were fully subscribed and all money was duly received.
Select the correct journal entries related to the above case from the following.
(A)

Date	Particulars	L.F.	Dr. Amount	Cr. Amount
	10% Debenture Allotment A/c Dr.		2,25,000
	To 10% Debentures A/c			1,75,000
	To Securities Premium Reserve A/c			50,000

(B)

Date	Particulars	L.F.	Dr. Amount	Cr. Amount
	Bank A/c Dr.		1,25,000
	To 10% Debenture Application A/c			1,25,000

(C)

Date	Particulars	L.F.	Dr. Amount	Cr. Amount
	Bank A/c Dr.		2,00,000
	To 10% Debenture First & Final Call A/c			2,00,000

(D)

Date	Particulars	L.F.	Dr. Amount	Cr. Amount
	Bank A/c Dr.		2,20,000
	To 10% Debenture Allotment A/c			2,20,000

Choose the correct answer from the options given below:

In case debentures were issued as collateral security for taking loan from ABC Bank. Choose the correct journal entry for cancellation of debentures as collateral security on repayment of bank loan.

Match List-I with List-II

List-I	List-II
(A) Debentures issued for consideration other than cash	(I) A company issues debentures at a price lower than their face value.
(B) Debentures issued as Collateral Security	(II) A company purchases assets from vendors and make payment by debentures
(C) Debentures issued for cash	(III) The company may issue its own debentures to the lenders in addition to some other assets already pledged
(D) Debentures issued at discount	(IV) A company invite the public to apply for debentures by issue of prospectus

Choose the correct answer from the options given below:

Which of the following is a written instrument acknowledging a debt under the common seal of the company?

Arrange the following in a sequence related to the issue and redemption of shares
(A) Forfeiture of shares
(B) Reissue of shares
(C) Calls in arrears
(D) Transfer of share forfeited account balance to capital reserve A/c
Choose the correct answer from the options given below:

On Bearer debentures, Interest is paid to a person who produces the ................... attached to such debentures?