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?

Debentures repayable after 12 months or after the period of Operating Cycle from the date of Balance Sheet are shown in the Balance Sheet of a company under the head of:
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If a partner withdraws equal amount in the middle of each quarter, then ______ are to be considered for interest on total drawings.

If a partner withdraws equal amount at beginning of each quarter, then ______ are to be considered for interest on total drawings.

When partners decide not to affect the book value of assets and liabilities, Deceased Partner's Capital Account is _____ with the net effect of revaluation gain for his share and Gaining Partner's Capital Accounts are _____ in their _____.

At the time of death of a partner, balance amount in Investment Fluctuation Reserve after meeting fall in the value of Investment is _____ to _____.

Under Section 37 of the Indian Partnership Act, 1932, when the amount due to an outgoing partner remains wholly or partly unpaid and there is no agreement regarding payment of interest or share of profit, the outgoing partner or his legal representative is entitled to:

Exe Ltd. has balance in Provision for Tax Account of Rs. 50,000 and Rs. 75,000 as on 31st March, 2024 and 2025 respectively. It made provision for tax during the year of Rs. 65,000. Tax paid during the year was

Interest on Capital is allowed on

Which of the following is not an essential feature of partnership?

Which of the following most accurately explains the legal foundation governing the mutual rights and obligations of partners in a partnership firm, particularly in the absence of an express written contract?

Which of the following statements most precisely reflects the doctrine of separate legal entity as established under company law?

At the time of admission of a partner when Partners' Capital Accounts are maintained following Fixed Capital Accounts Method, Unrecorded Assets or Liabilities are transferred to:

Under what circumstances, a partner can get exemption from sharing losses in a firm?

Under Section 48 of the Partnership Act, 1932, the residue remaining after payment of debts, advances, and capital shall be divided among partners in their:

Under Section 37 of the Indian Partnership Act, 1932, an outgoing partner may receive interest at the rate of:

According to Section 4 of the Indian Partnership Act, 1932, partnership is the relation between persons who have agreed to share the profits of a business carried on by:

Credit Purchases Rs.6,00,000; Trade Payables Turnover Ratio 5 times. Calculate Closing Creditors, if Closing Creditors are Rs.10,000 less than Opening Creditors.

X and Y are partners sharing profits in the ratio of \(2:1\). They admit Z into partnership for \( \frac{1}{4} \) share in profits for which he brings Rs.20,000 as his share of capital. Hence, the adjusted capitals of X and Y will be:

Which of the following is not a characteristic of Bearer Debenture?

A, B and C are partners in a firm whose books are closed on March 31st each year. A died on 30th June, 2017 and according to the agreement, the share of profits of a deceased partner up to the date of death is to be calculated on the basis of the average profits for the last five years. The net profits for the last 5 years have been: \[ 2013 = Rs.14,000 \] \[ 2014 = Rs.18,000 \] \[ 2015 = Rs.16,000 \] \[ 2016 = Rs.10,000 \text{ (Loss)} \] \[ 2017 = Rs.16,000 \] Calculate A's share of profits up to the date of death.