CUET UG 2023 Accountancy Question Paper (23-May-2023) (Shift 2)

Question 1

Investing Activities includes:

(A) Loan given to third party

(B) Acquire shares warrants

(C) Repayments of amount borrowed

(D) Dividend received from Investment

(E) Issue of shares

Choose the correct answer from the options given below:

Accepted Answer

(C), (A), and (D) only

Answer

(C), (A), and (E) only

Answer

(B) and (D) only

Answer

(B), (A), and (C) only

Question 2

Which of the following items is shown under the head ‘Current assets’ while preparing company’s Balance Sheet?

Accepted Answer

Inventories

Answer

Investment in Property

Answer

Patents

Answer

Vehicles

Question 3

Match List – I with List – II.List IList II(A) Application Money should be at least(IV) 25% of face value(B) The interest rate on calls in Arrears(II) 12% p.a.(C) The interest rate on calls in Advance(III) 10% p.a.(D) The amount of calls should not exceed(I) 5% of face valueChoose the correct answer from the options given below:

Accepted Answer

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

Answer

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

Answer

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

Answer

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

Question 4

A and B are partners sharing profits and losses in the ratio of 3:2. They admit C for 1/14th share in the profits. On the date of admission, there exists a General Reserve of ₹4,60,000. They decided to retain it in the new Balance Sheet. The accounting treatment would be:

Accepted Answer

C’s capital A/c will be credited by ₹1,15,000

Answer

C’s capital A/c will be debited by ₹1,15,000

Answer

A’s capital A/c will be debited by ₹69,000

Answer

B’s capital A/c will be debited by ₹46,000

Question 5

At the time of retirement of a partner, if General Reserve appears in the Balance Sheet of the firm, it will be distributed among the partners in:

Accepted Answer

Old Profit Sharing Ratio

Answer

Gaining Ratio

Answer

Sacrificing Ratio

Answer

New Profit Sharing Ratio

CUET UG 2023 Accountancy Question Paper (23-May-2023) (Shift 2)

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List I	List II
(A) Application Money should be at least	(IV) 25% of face value
(B) The interest rate on calls in Arrears	(II) 12% p.a.
(C) The interest rate on calls in Advance	(III) 10% p.a.
(D) The amount of calls should not exceed	(I) 5% of face value