CUET 2026 May 11 Shift 1 Accountancy Question Paper- Download Answer Key and Solution PDF

According to Section 39 of the Partnership Act, 1932, dissolution of partnership between all the partners of a firm is called:

• (A) Admission of partner
• (B) Reconstitution of firm
• (C) Dissolution of firm
• (D) Settlement of accounts

As per Section 464 of the Companies Act, 2013, the maximum prescribed number of partners in a firm is:

• (A) 20
• (B) 50
• (C) 100
• (D) 200

The meaning of ``Debentures'' is covered under which section of Companies Act, 2013:

• (A) Section 2(30)
• (B) Section 2(68)
• (C) Section 2(71)
• (D) Section 2(62)

Ashu and Nisha are partners having Opening Capitals of Rs. 5,00,000 each without a Partnership Deed. Nisha, on 1st June, 2024 introduced further capital of Rs. 1,00,000 and advanced loan of Rs. 1,00,000 to the firm on 1st October, 2024. Interest payable to Nisha will be:

• (A) Rs. 39,000
• (B) Rs. 36,000
• (C) Rs. 3,000
• (D) Nil

A and B are partners in a firm sharing profits and losses in the ratio of \(1:3\). C was admitted for \( \frac{1}{4} \)th share of profit. Machinery would be depreciated by \(20%\) (book value Rs.1,00,000) and building would be appreciated by \(10%\) (book value Rs.80,000), unrecorded debtors of Rs.2,000 would be brought in books. What was B's and C's share of revaluation?

• (A) Rs.2,500, Rs.7,500
• (B) Rs.7,500, Rs.2,500
• (C) Rs.7,500, Rs.0
• (D) Rs.0, Rs.7,500

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:
\[ 2013 = Rs.14,000 \] \[ 2014 = Rs.18,000 \] \[ 2015 = Rs.16,000 \] \[ 2016 = Rs.10,000 (Loss) \] \[ 2017 = Rs.16,000 \]

Calculate A's share of profits up to the date of death.

• (A) Rs.1,200
• (B) Rs.900
• (C) Rs.300
• (D) None of the above

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

• (A) They are treated as negotiable instruments.
• (B) Their transfer requires a deed of transfer.
• (C) They are transferable by mere delivery.
• (D) The interest on it is paid to the holder irrespective of identity.

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:

• (A) Rs.40,000 and Rs.20,000 respectively.
• (B) Rs.32,000 and Rs.28,000 respectively.
• (C) Rs.60,000 and Rs.30,000 respectively.
• (D) Rs.20,000 and Rs.40,000 respectively.

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.

• (A) Rs.1,15,000
• (B) Rs.1,25,000
• (C) Rs.1,30,000
• (D) Rs.1,10,000

Which of the following tools of `Analysis of Financial Statements' indicate the trend and direction of financial position and operating results?

• (A) Comparative Statement
• (B) Common size statements
• (C) Cash flow analysis
• (D) Ratio Analysis