List of top Questions asked in CUET (UG)

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 :

On a Dissolution of a firm, repayment of Partner's loan to the firm will be shown in :

on dissolution of partnership firm, unrecorded assets when taken over by a partner are shown in :

Satish was appointed to look after the dissolution work for which he was allowed a remuneration of ₹ 14,000. He agreed to take over the investment of the book value of ₹ 11,000 towards payment of his full remuneration. (Investments have already been transferred to Realisation A/c) Joumalize.

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 :

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

Match List I with List I

List I		List II
A.	Revaluation Reserve	I.	Share Capital
B.	Issued Capital	II.	Other Non current Assets
C.	Discount on issue of debentures	III.	Inventories
D.	Loose tool	IV.	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 ?

Method of codification should be :

Which mathematical operator is represented by an asterik (*) ?

In what cell is the Rate for PMT function where - PMT (C8, C9, C10, C11, C12) ?

The term 'record' as applied to a database table mean :

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

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 :

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 :

Given below are the extracts of information from Financial statements of Zucca Ltd.

Particular	2020-21	2021-22
Equities and Liabilities
Share holder's funds
Reserve and Surplus (Statement of Profit and Loss)	4,00,000	7,00,000
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.

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-

P, Q and R are Partners sharing Profits and losses equally. R retires and Goodwill is appearing in the books at ₹ 30,000. Goodwll of the firm is valued at ₹ 1,50,000. Calculate the net amount to be credited to R's Capital A/c for adjustment of goodwill:

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 :

_______ is a measure of liquidity which excludes ______.
A. Liquid Ratio
B. Current Ratio
C. Debt equity Ratio
D. Inventory
E. Debtor
Choose the correct answer from the options given below :