List of top Accountancy Questions asked in CUET (UG)

Pick the odd one out while Calculating Cash Flow from Financing Activities :
Match List - I with List - II
List - IList - II
(A) The Accounting basis for Cash Flow Statement is(II) Cash Basis
(B) Dividend paid on Equity and Preference capital comes under(IV) Cash outflow from Financing Activities
(C) It cannot be considered as cash and cash equivalents(I) Investment in shares
(D) It can be classified as cash and cash equivalents(III) Treasury bills

Choose the correct answer from the options given above:
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 :
If there appears a Tournament Fund, then the expenses incurred on Tournament activities will be shown :
Match LIST I with LIST II

LIST I
 

LIST II 
 
AProceeds from Long term borrowingsIMarketable Securities
BPurchase of Raw MaterialsIIInvesting Activities 
CPurchase of New EquipmentsIIIOperating Activities
DPurchase of New EquipmentsIVFinancing Activities
Choose the correct answer from the options given below
Debentures issued for consideration other than cash includes, debentures :
(A) Issued to bank as additional security
(B) Issued to vendor
(C) Issued to Public
(D) Issued to creditor
(E) Issued for cash
Choose the correct answer from the options given below :
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 :
When a company reserve a portion of its uncalled capital to be called in the event of winding up, such uncalled capital is known as:-
The process of receiving minimum subscription of 90% of the entire issue must be completed within _____ days from date of issue of prospectus
During the year 2015-16, subscription received by a sports club were ₹ 80,000. These included ₹ 3,000 for the year 2014-15 and ₹ 6,000 for the year 2016-17. On 31st March 2016, the amount of subscription due but not received was ₹ 12,000. Calculate the amount of subscription to be shown in Income and Expenditure A/c.
The common fields used in a relationship between tables are called:
Minimum Subscription of capital:
3 th 7 Vikas and Rahul are partners who shared profits in the ratio of 2:3. They admitted Sunil as a partner for share in future profits who brings ₹37,500 as his share of Goodwill. Half of which is withdrawn by sacrificing partners. Record Journal entry for Goodwill withdrawn by Partners.
Based on the above, answer the question. Amrita and Kalyani are partners sharing profits in the ratio of 3 : 2. They decided to expand the business by admitting Suraj as a new partner for 1/4th share. Suraj’s share of goodwill is valued at Rs 90,000 for which he compensated Amrita and Kalyani in the ratio 1 : 4. Following information is also provided:
  • Machinery : Rs 25,00,000
  • Land : Rs 10,00,000
  • Computer : Rs 2,50,000
  • Workmen compensation fund : Rs 5,30,000
Claim against workmen compensation is Rs 2,00,000 and goodwill appeared in the books at Rs 60,000.
What is Amrita’s share in the workmen compensation fund?
P, Q, and R are partners in a firm sharing profits and losses in the ratio of \(3:2:1\). R retires and the balance in his capital A/c after making necessary adjustments works out to be \(₹\ 60,000\). However P and Q agreed to pay him \(₹\ 75,000\) in full settlement of his claim. Then the amount to be debited to P's capital A/c would be: 
At the time of admission of a new partner, general reserve appearing in the old Balance Sheet is transformed to :-
Book value of stock \(₹ 40,000\). However the stock is found overvalued by \(₹ 4,000/-.\) The amount \(₹ 4,000\) will be:
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
Which of the following is NOT a way to redeem the debentures?
Calculate Debt equity Ratio :
\(13\%\) Debentures \( ₹6,00,000\) 
Shareholders fund Z \(₹8,00,000\) 
Net Profit before tax \(₹3,51,000 \)
Current Liabilities \(₹1,60,000 \)
Calculate the Normal Rate of Return if normal profit is ₹30,000, Assets 5,30,000 and liabilities ₹30,000, while calculating the value of goodwill of the firm at the time of admission of a partner. 1. 5.6% 2.6% 3.5.3% 4.5%
Match List I with List II
List IList II
A.Super ProfitI.Actual Average Profit - Normal Profit
B.Normal ProfitII.Super Profit × \(\frac{100}{\text{Normal rate of return}}\)
C.GoodwillIII.Total Assets - Outside Liabilities
D.Capital EmployedIV.\(\frac{\text{Capital Employed × Normal Rate of Return }}{100}\)
Choose the correct answer from the options given below :
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 -
Identify the cash transaction from the following :
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 :