CUET 2026 Accountancy May 21 Shift 1 Question Paper- Download Answer Key and Solution PDF

CUET 2026 May 21 Shift 1 Accountancy Question Paper is available for download here. NTA is conducting the CUET 2026 exam from 11th May to 31st May.

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 May 21 Shift 1 Accountancy Question Paper with Answer Key and Solution PDF from links provided below.

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CUET 2026 Accountancy May 21 Shift 1 Question Paper with Solution PDF

CUET May 21 Shift 1 Accountancy Question Paper 2026	Download PDF	Check Solutions

Question 1:

A and B are partners sharing profits in the ratio of $ 3:2 $. C is admitted as a new partner for a $ \frac{1}{5} $th share in the profits, which he acquires entirely from A. What will be the new profit-sharing ratio of A, B, and C?

(A) $ 2:2:1 $
(B) $ 3:2:1 $
(C) $ 12:8:5 $
(D) $ 4:3:1 $

Detailed Solution

Question 2:

X and Y are partners in a firm with capitals of ₹60,000 and ₹40,000 respectively. Z is admitted as a new partner for a $ \frac{1}{4} $th share in profits and brings in ₹40,000 as his capital contribution. What is the total value of the Hidden Goodwill of the firm?

(A) ₹60,000
(B) ₹20,000
(C) ₹160,000
(D) ₹40,000

Detailed Solution

Question 3:

A company forfeited 200 equity shares of $10 each, fully called up, on which application and allotment money of \$6 per share was paid. Out of these, 150 shares were reissued as fully paid up for \$8 per share. What exact amount must be transferred to the Capital Reserve Account?

(A) $600
(B) $900
(C) $750
(D) $300

Detailed Solution

Question 4:

During a financial year, Zenith Ltd. paid $50,000 as an interim dividend to its equity shareholders. Under which specific activity classification must this transaction be reported within a Cash Flow Statement prepared as per AS-3?

(A) $ \text{Operating Activities} $
(B) $ \text{Investing Activities} $
(C) $ \text{Financing Activities} $
(D) $ \text{Cash and Cash Equivalents} $

Detailed Solution

Question 5:

The financial records of Alpha Ltd. show a Current Ratio of $ 2.5:1 $ and a Quick Ratio of $ 1.5:1 $. If the total Current Liabilities of the company equal \$40,000, what is the total dollar valuation of the Inventory held by the firm?

(A) $40,000
(B) $60,000
(C) $100,000
(D) $20,000

Detailed Solution

Question 6:

If a company issues debentures as a secondary security to back a primary bank loan, under which classification entry title must these corporate debentures be presented in the Notes to the Balance Sheet?

(A) Secured Loans
(B) Collateral Security
(C) Current Liabilities
(D) Contingent Liabilities

Detailed Solution

Question 7:

An unrecorded liability of \$5,000 is settled at $4,500 during the dissolution of a partnership firm. Which of the following accounting treatments correctly records this settlement transaction inside the Realisation Account?

(A) Debiting the Realisation Account with $4,500
(B) Crediting the Realisation Account with $4,500
(C) Debiting the Realisation Account with $5,000
(D) Crediting the Realisation Account with $500

Detailed Solution

Question 8:

A corporate entity issues 1,000, $ 9\% $ Debentures of $100 each at a premium of $ 10\% $. What is the total annual interest obligation that the company must pay on these debentures?

(A) $9,000
(B) $9,900
(C) $900
(D) $10,000

Detailed Solution

Question 9:

Under pro-rata allotment, a company receives applications for 20,000 shares but allots only 10,000 shares to applicants. If a shareholder was allotted 400 shares under this scheme, how many shares did they originally apply for?

(A) $ 800 shares $
(B) $ 200 shares $
(C) $ 400 shares $
(D) $ 600 shares $

Detailed Solution

Question 10:

If an item titled 'Premium on Redemption of Debentures' is visible inside a corporate balance sheet, under which primary classification category heading must it be presented?

(A) $ Non-Current Liabilities (Long-term Borrowings) $
(B) $ Reserves and Surplus $
(C) $ Current Liabilities (Other Current Liabilities) $
(D) $ Share Capital $

Detailed Solution

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)

CUET UG 2026 Paper Analysis

CUET Questions

1.
At the time of death of a partner, balance of Investment Fluctuation Reserve after adjusting fall in investment value is treated as:

Credited to Revaluation Account
Credited to all partners' capital accounts
Debited to deceased partner
Credited to deceased partner

View Solution

2.
If a partner withdraws equal amount at the beginning of each quarter, what average period should be considered for interest on total drawings?

5.5 months
6 months
4.5 months
7.5 months

View Solution

3.
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?

150 days
230 days
130 days
120 days

View Solution

4.
On dissolution, furniture book value ₹5,000 taken for ₹4,300. Which account is debited?

Cash Account ₹5,000
Realisation Account ₹700
Partner Capital Account ₹5,000
Realisation Account ₹4,300

View Solution

5.
When debentures are issued as collateral security, the entry passed is:

Bank A/c Dr. to Debentures A/c
Debenture Suspense A/c Dr. to Debentures A/c
No entry is passed
Bank A/c Dr. to Debenture Suspense A/c

View Solution

6.
On the dissolution of a partnership firm, which account is prepared to ascertain the net gain or loss on the sale of assets and payment of liabilities?

Revaluation Account
Realisation Account
Profit and Loss Appropriation Account
Profit and Loss Account

View Solution

CUET 2026 Accountancy May 21 Shift 1 Question Paper- Download Answer Key and Solution PDF

CUET 2026 Accountancy May 21 Shift 1 Question Paper with Solution PDF

CUET UG 2026 Exam Pattern

CUET UG 2026 Paper Analysis

CUET Questions

1.
At the time of death of a partner, balance of Investment Fluctuation Reserve after adjusting fall in investment value is treated as:

2.
If a partner withdraws equal amount at the beginning of each quarter, what average period should be considered for interest on total drawings?

3.
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?

4.
On dissolution, furniture book value ₹5,000 taken for ₹4,300. Which account is debited?

5.
When debentures are issued as collateral security, the entry passed is:

6.
On the dissolution of a partnership firm, which account is prepared to ascertain the net gain or loss on the sale of assets and payment of liabilities?

Comments

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CUET 2026 Accountancy May 21 Shift 1 Question Paper with Solution PDF

CUET UG 2026 Exam Pattern

CUET UG 2026 Paper Analysis

CUET Questions

1.At the time of death of a partner, balance of Investment Fluctuation Reserve after adjusting fall in investment value is treated as:

2.If a partner withdraws equal amount at the beginning of each quarter, what average period should be considered for interest on total drawings?

3.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?

4.On dissolution, furniture book value ₹5,000 taken for ₹4,300. Which account is debited?

5.When debentures are issued as collateral security, the entry passed is:

6.On the dissolution of a partnership firm, which account is prepared to ascertain the net gain or loss on the sale of assets and payment of liabilities?

Comments

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1.
At the time of death of a partner, balance of Investment Fluctuation Reserve after adjusting fall in investment value is treated as:

2.
If a partner withdraws equal amount at the beginning of each quarter, what average period should be considered for interest on total drawings?

3.
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?

4.
On dissolution, furniture book value ₹5,000 taken for ₹4,300. Which account is debited?

5.
When debentures are issued as collateral security, the entry passed is:

6.
On the dissolution of a partnership firm, which account is prepared to ascertain the net gain or loss on the sale of assets and payment of liabilities?