List of top Accountancy Questions asked in CUET (UG)

Securities premium cannot be used:

Super profit refers to:

Arrange the following steps in correct order.
(A) Calls in Arrears 
(B) Reissue of shares 
(C) Making calls 
(D) Gain on Reissue transferred to Capital Reserve 
(E) Forfeiture of shares 
Choose the correct answer from the options 8iven 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 :

Arrange the following steps in correct order for calculation of Proportionate Capital of New Partner.
(A) Balancing the capital account of old partners 
(B) Calculation of Gain/Loss on Revaluation and transferring to Capital Account 
(C) Transferring Accumulated Profit to Capital account 
(D) Calculation of Proportionate Capital for New Partner 
(E) Adjustment for Goodwill in Partner's capital account 
Choose the correct answer from the options given below: 

Match List - I with List - II

List - I	List - II
(A) Authorised Capital	(II) Maximum amount of share capital a company could raise during its lifetime
(B) Reserve Capital	(I) A portion of uncalled share capital will be called at the time of winding up
(C) Issued Capital	(III) Capital issued to public for subscription
(D) Subscribed but not fully paid capital	(IV) Amount called up and received but not fully paid

Choose the correct answer from the options given above:

Which of the following item is not a tool of financial statement analysis?

As per AS 3 (Revised) while preparing cash flow statement the correct sequence to be followed is
A. Calculation of Cash flow from Financing Activities
B. Calculation of cash flow from Operating Activities
C. Calculation of cash flow from Investing Activities
D. Calculation of net changes in cash and cash equivalents during the year
E. Calculation of net profit before tax and extra-ordinary items
Choose the correct answer from the options given below :

Particulars	Amount (₹)
Inventory at the beginning	40,000
Credit Purchase	1,60,000
Inventory at the end	38,000
Trade payable at the beginning	14,000
Trade payable at the end	14,500

Cash paid for inventory is:

Match List I with List II

LIST I		LIST II
A	Capital Reserve	I	Current Assets
B	Inventories	II	Non-Current Liabilities
C	8% Debentures	III	Current Liabilities
D	Provision for tax	IV	Reserve and Surplus

Choose the correct answer from the options given below:

Find out the cost of medicine consumed during 2020-21.

• Payment to creditors of medicines: Rs 3,70,000
• Creditors for medicines purchased:
  • On 1.04.2020: Rs 25,000
  • On 31.03.2021: Rs 17,000
• Stock of Medicines:
  • On 1.04.2020: Rs 62,000
  • On 31.03.2021: Rs 54,000
• Advance to suppliers:
  • On 1.04.2020: Rs 11,000
  • On 31.03.2021: Rs 18,000

Which of the following items are part of Intangible non current Assets:
A. Patents
B. Furniture
C. Statement of Profit & Loss A/c (Dr)
D. Goodwill
E. Trademark
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 :

The sum due to the retiring Partners includes :-
A. Share of remaining partners goodwill.
B. Credit balance of his capital Account.
C. His share of accumulated profits.
D. His share of Goodwill.
E. Cash brought in by remaining partners for adjustment of capital.
Choose the correct answer from the options given below :

Profits made on Revaluation of Assets and Reassessment of Liabilities is distributed among whom?

Match List I with List II

List I Formula		List II Term/Item
A.	Current liiabilities - working capital	I.	Capital Employed
B.	Shareholders Fund - Debts	II.	Operating Cost
C.	Operating Expenses - Cost of Revenue from operation	III.	Current Assets
D.	Net Profit - Non Operating Expenses (-) Non Operating Inccentive	IV.	Operating Profit

Choose the correct answer from the options given below :

If at the time of admission, some positive balance of Profit and Loss A/C appears in the books, it will be transferred to:

Identify the correct sequence to be followed at the time of Retirement of a Partner :
(A) New Balance Sheet after Retirement
(B) Transferring balance to Retiring partner’s Loan Account
(C) Calculation Gaining/Sacrificing Ratio
(D) Partners’ Capital Account
(E) Preparation of Revaluation Account
Choose the correct answer from the options given below :

Match LIST I with LIST II

LIST I		LIST II
A	Profit sharing Ratio	I	No payment
B	Interest on partner's Loan	II	With consent of all existing partners
C	Admission of a Partner	III	6% p.a.
D	Interest on Capital	IV	Equal

Choose the correct answer from the options given below

Balance sheet provides information about financial position of the enterprise:

Calculate the amount of sports material consumed for the year ended 31st March 2016

	₹
Stock of sports material on 1.4.2015	7,500
Creditor for sports material on 1.4.2015	2,000
Stock of sports material on 31.3.2016	6,200
Amount paid for sports material during the year 2015-16	17,000
Advance paid for sports material as on 31.3.2016	3,500
Creditor for sports material on 31.3.2016	1,200

The following are the items appearing in Equities and Liabilities side of Balance Sheet
A. Deferred tax Assets (Net)
B. Reserve and Surplus
C. Deferred tax Liabilities (Net)
D. Long term borrowings
E. Long term loans and Advances
Choose the correct answer from the options given below: