CUET 2026 June 6 Shift 1 Accountancy Question Paper is available for download here. NTA is conducting the CUET 2026 exam from 11th May to 31st May and 6th June to 7th June.
- CUET 2026 Accountancy exam consists of 50 questions for 250 marks to be attempted in 60 minutes.
- As per the marking scheme, 5 marks are awarded for each correct answer, and 1 mark is deducted for incorrect answer.
Candidates can download CUET 2026 June 6 Shift 1 Accountancy Question Paper with Answer Key and Solution PDF from links provided below.
Related Links:
- CUET 2026 June 6 Shift 1 Accountancy Answer Key
- CUET UG 2026 Accountancy Marks vs Expected Percentile and Colleges
CUET 2026 Accountancy June 6 Shift 1 Question Paper with Solution PDF
| CUET June 6 Shift 1 Accountancy Question Paper 2026 | Download PDF | Check Solutions |
If a company fails to receive minimum subscription within 120 days from the date of issue of the prospectus, in how many days should company refund the amount of application money from the date of issue of prospectus?
Ram, Manohar and Joshi were partners. Joshi died on 28 Feb 2018. His share of profit is calculated on average of 3 years profits. Find Joshi's share.
Profits: 2015 = 8000, 2016 = 9000, 2017 = 10000
Sarvesh, Sriniketan and Srinivas are partners in ratio 5:3:2. If Sriniketan's share of profit is ₹1,50,000, find Sarvesh's share.
On dissolution, furniture book value ₹5,000 taken for ₹4,300. Which account is debited?
Final payment: Capital debit ₹50,000, profit ₹1,00,000, liability taken ₹8,000. Find payment.
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?
Under Section 37 of Indian Partnership Act, 1932, what is the right of outgoing partner if amount remains unpaid?
Detailed Solution
Concept:
Section 37 of the Indian Partnership Act deals with rights of outgoing partners when settlement of dues is delayed. If the amount due is not paid at the time of retirement or death, the partner has an option to claim either interest on the outstanding amount or share in the profits earned using that amount.
Step 1: Understand legal protection.
Law protects outgoing partner from delayed settlement losses.
Step 2: Two available options.
Partner can claim:
Interest @ 6% p.a. OR
Share of profits attributable to unpaid capital
Step 3: Final interpretation.
Partner chooses whichever is more beneficial.
Final Answer: Either option (B) Quick Tip: Section 37 always gives choice → interest OR profit share (not both).
At the time of death of a partner, balance of Investment Fluctuation Reserve after adjusting fall in investment value is treated as:
Detailed Solution
Concept:
Investment Fluctuation Reserve (IFR) is created to cover decline in value of investments. At the time of revaluation or death of a partner, after adjusting loss in investments, the remaining balance of IFR is considered as accumulated profit of the firm and is distributed among all partners in their profit-sharing ratio.
Step 1: Adjust fall in investment value.
First, IFR is used to cover decline in investments.
Step 2: Remaining balance treatment.
Balance left in IFR represents past profits.
Step 3: Distribution rule.
Remaining IFR is transferred to: \[ All partners' capital accounts \]
Final Answer: Credited to all partners' capital accounts Quick Tip: IFR balance after adjustment = divisible profit among all partners.
When partners decide not to revalue assets and liabilities at the time of death of a partner, Deceased Partner’s Capital Account is credited with revaluation gain and Gaining Partners' Capital Accounts are adjusted in:
Detailed Solution
Concept:
At the time of retirement or death, goodwill and revaluation adjustments are shared among remaining partners based on gaining ratio. If assets are not revalued, then adjustments are made directly through capital accounts. The deceased partner’s share is credited for revaluation gain, while remaining partners bear adjustments in their gaining ratio.
Step 1: Understand non-revaluation condition.
Assets are NOT revalued, so no Revaluation Account is prepared.
Step 2: Effect on deceased partner.
Deceased partner is credited for his share of hidden gains.
Step 3: Effect on remaining partners.
Gaining partners absorb adjustment in: \[ Gaining ratio \]
Final Answer: Gaining ratio Quick Tip: Retirement/death adjustments → always use gaining ratio for remaining partners.
If a partner withdraws equal amount at the beginning of each quarter, what average period should be considered for interest on total drawings?
Detailed Solution
Concept:
Interest on drawings is calculated based on the time period for which money is withdrawn from the business. When equal amounts are withdrawn at regular intervals, the average time period method is used. For withdrawals at the beginning of each quarter, the average period is calculated by considering mid-point of usage time.
Step 1: Understand withdrawal pattern.
Withdrawals occur at: \[ Beginning of each quarter \]
Step 2: Time periods.
Each withdrawal remains for different durations:
1st quarter → 9 months
2nd quarter → 6 months
3rd quarter → 3 months
4th quarter → 0 months
Step 3: Average period calculation.
\[ \frac{9 + 6 + 3 + 0}{4} = 4.5 months from end basis \]
Converted to accounting convention: \[ 6 months average \]
Final Answer: 6 months Quick Tip: Equal quarterly withdrawals → standard MCQ answer = 6 months.
CUET UG 2026 Exam Pattern
| Parameter | Details |
|---|---|
| Exam Name | Common University Entrance Test (CUET UG) 2026 |
| Conducting Body | National Testing Agency (NTA) |
| Exam Mode | Computer-Based Test (CBT) |
| Exam Duration | 60 minutes per test |
| Total Sections | 3 (Languages, Domain Subjects, General Test) |
| Question Type | Multiple Choice Questions (MCQs) |
| Questions per Test | 50 questions (all compulsory) |
| Marking Scheme | +5 for correct, -1 for incorrect |
| Maximum Marks | 250 marks per test |
| Maximum Subject Choices | 5 subjects in total |
| Syllabus Base | Class 12 NCERT (mainly for Domain Subjects) |
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