CUET UG 2023 Accountancy Question Paper (02-Jun-2023) (Shift 2)

Question 1

How the following items of prize fund will be shown in balance sheet: DetailsAmt. Dr.Amt. Cr.Prize fund ₹80,000Prize fund Investment₹80,000 Income from prize fund investment ₹8,000Prizes awarded₹6,000

Accepted Answer

Liabilities: Prize Fund ₹82,000; Assets: Prize Fund Investment ₹80,000

Answer

Liabilities: Prize Fund ₹80,000; Assets: Prize Fund Investment ₹80,000

Answer

Liabilities: Prize Fund ₹74,000; Assets: Prize Fund Investment ₹80,000

Answer

Liabilities: Prize Fund ₹86,000; Assets: Prize Fund Investment ₹74,000

Question 2

From the following information, calculate cash flow from financing activities: Particulars31 March 202131 March 2022Proposed dividend₹2,40,000₹3,00,000If dividend payable was ₹30,000 on 31 March 2021 and ₹40,000 on 31 March 2022, determine outflow of cash from financing activities:

Accepted Answer

₹2,30,000

Answer

₹2,90,000

Answer

₹2,50,000

Answer

₹3,10,000

Question 3

At the time of admission of a partner, reduction in the value of an asset will be debited to:

Accepted Answer

Revaluation A/c

Answer

Cash A/c

Answer

Partner’s Capital A/c

Answer

Realisation A/c

Question 4

Match List I with List II. LIST ILIST IIA. Summarises of different operational activity of different periodI. Cash flow statementB. Identify the cash from operating, financing, and investing activitiesII. Ratio analysisC. Identify the significant relationship between two items of Balance SheetIII. Comparative statementD. Summarises different operational activity of one periodIV. Common size statementChoose the correct answer from the options given below:

Accepted Answer

A-IV, B-I, C-III, D-I

Answer

A-IV, B-I, C-III, D-II

Answer

A-I, B-II, C-III, D-IV

Answer

A-II, B-I, C-III, D-IV

Question 5

If a creditor accepts an asset whose value is more than the amount due to him:

Accepted Answer

He will pay excess amount

Answer

He will not pay anything

Answer

The excess amount will be credited to Realisation Account

Answer

The excess amount is debited to Realisation Account The excess amount is debited to Bank account

CUET UG 2023 Accountancy Question Paper (02-Jun-2023) (Shift 2)

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Details	Amt. Dr.	Amt. Cr.
Prize fund		₹80,000
Prize fund Investment	₹80,000
Income from prize fund investment		₹8,000
Prizes awarded	₹6,000

LIST I	LIST II
A. Summarises of different operational activity of different period	I. Cash flow statement
B. Identify the cash from operating, financing, and investing activities	II. Ratio analysis
C. Identify the significant relationship between two items of Balance Sheet	III. Comparative statement
D. Summarises different operational activity of one period	IV. Common size statement