| Updated On - Nov 25, 2024
CUET Accountancy Question Paper 2024 (Set D) is available here for Download. NTA is going to conduct CUET 2024 Accountancy paper on 17 May in Shift 2B from 5 PM to 6 PM. CUET Accountancy Question Paper 2024 is based on objective-type questions (MCQs). Candidates get 60 minutes to solve 40 MCQs out of 50 in CUET 2024 question paper for Accountancy.
CUET Accountancy Question Paper 2024 (Set D) PDF Download
| CUET 2024 Accountancy Question Paper Set D with Answer Key |  Download |
Solution (To be updated) |
CUET Accountancy Answer Key (Set D)
| Serial No | Questions | Answers | Detailed Solution |
| 1 | Correct sequence for calculating cash flows from operating activities | (3) (E), (A), (B), (C), (D) | The correct sequence involves adjusting for non-cash items (E), calculating cash flows from operating activities (A), then including adjustments for other financial aspects (B, C, and D). |
| 2 | Correct order for capital classification | (3) (C), (B), (A), (E), (D) | This is based on the typical hierarchy of capital classifications, starting with core capital items and moving to peripheral or supporting classifications. |
| 3 | Deceased Partner's Capital Account includes | (2) (A), (B), (C), and (D) only | When a partner dies, adjustments are made for profits, losses, goodwill, and revaluation of assets, as mentioned in (A), (B), (C), and (D). |
| 4 | Trade Receivables Turnover Ratio | (1) 8.18 times | Trade Receivables Turnover Ratio = Net Credit Sales / Average Receivables. The calculation uses the formula, and based on the provided values, the ratio comes to 8.18. |
| 5 | Average Collection Period | (2) 60 days | Average Collection Period = 365 / Trade Receivables Turnover Ratio. By using the turnover ratio from question 4, the average collection period is calculated as 60 days. |
| 6 | Trade Payables Turnover Ratio | (2) 2.96 times | Trade Payables Turnover Ratio = Net Credit Purchases / Average Trade Payables. The formula is applied, resulting in 2.96 times. |
| 7 | Average Payment Period | (2) 121 days | Average Payment Period = 365 / Trade Payables Turnover Ratio. Using the ratio from question 6, the payment period is calculated as 121 days. |
| 8 | Trade Receivables Turnover Ratio and Trade Payables Turnover Ratio are categorized as | (3) Activity Ratio | Both ratios assess how efficient a company is in managing its receivable and payables and as a result, they belong to the category of activity ratios. |
| 9 | Mode of dissolution of the firm | (1) Dissolution by Agreement | Dissolution by agreement is one way in which a partnership firm may be dissolved, There is an agreement between the partners, according to the provisions of the Indian Partnership Act. |
| 10 | Amount of Profit and Loss Account | (2) (Dr.) ₹90,000 | The debit side of the Profit and Loss Account shows a loss of 90,000 Rupees and this amount will be shared by the partners according to the ratio mutually agreed by the partners. |
| 11 | Gain/Loss on Realisation | (4) Loss ₹2,10,000 | Realisation Loss = Total Assets - Total Liabilities + Expenses. Based on the question’s values, the firm realizes a loss of ₹2,10,000. |
| 12 | Entry for realisation expenses | (2) Realisation A/c Dr. To G’s Capital A/c | Since G paid the realisation expenses, the Realisation Account is debited, and G’s Capital Account is credited to reflect this expense. |
| 13 | Profit and Loss Account sharing ratio | (1) 5 : 3 : 2 | The partners share profits and losses based on their agreed profit-sharing ratio, which in this case is 5:3:2. |
| 14 | Libraries run by charitable trusts are an example of | (2) Not for profit organisation | Not-for-profit organizations exist for purposes other than generating profit, such as education, charity, etc. Libraries are a common example. |
| 15 | Main source of revenue for 'not for profit' organisation | (3) Subscription from members | Not-for-profit organizations, like clubs or societies, often generate revenue from membership subscriptions or donations rather than sales. |
| 16 | Match List-I with List-II | (4) (A) - (III), (B) - (IV), (C) - (I), (D) - (II) | Based on accounting principles: (A) Salary to partner affects Profit and Loss, (B) Interest on loan is credited, (C) Drawings debited, and (D) Capital introduction is credited. |
| 17 | Affecting the Revaluation Account at reconstitution of partnership | (1) Increase in assets | Assets can be improved through the revaluation process which will lead to adjustments in the amount recorded in Revaluation Accounts which is also subject to change in the Partnership Agreement. |
| 18 | Correct sequence for final accounts of partnership firm | (1) (C), (B), (A), (D) | Preparation of the final accounts first requires that the profit or loss net of income tax has been computed then account for Revaluation, changes in capital as well as Balance Sheet |
| 19 | Window dressing is a practice | (1) To manipulate the accounts to show a better picture of the financial position than the actual one. | Window dressing is the perception of financial accounting figures and reporting overinflating sales and other productive activities in order to please stakeholders and the external look of the firm. |
| 20 | Match List-I with List-II | (2) (A) - (I), (B) - (III), (C) - (II), (D) - (IV) | The matching relates to settlement which guarantees proper accounts are applied to all partner-related transactions (Salary, Interest on loan, etc.). |
| 21 | Affecting the Revaluation Account at admission of a partner | (3) (A), (C), and (D) only | The revaluation of all assets and liabilities will affect the balance in the revaluation account while the accounts of drawing will not affect the balance in the account. |
| 22 | Match List-I with List-II | (4) (A) - (III), (B) - (IV), (C) - (I), (D) - (II) | (A) Purchase of tangible assets is an investing activity, (B) Issue of shares is a financing activity, (C) Increase in current assets is operating, (D) Marketable securities are cash equivalents. |
| 23 | Common Size Statement analysis | (3) (A), (C), and (D) only | Common Size Statements typically use vertical analysis (as % of revenue or total assets), not horizontal analysis. |
| 24 | Resulting cash flow from machinery acquisition | (1) Investing activity and outflow ₹3,50,000 | Purchase of machinery is considered an investment, and since cash was used, it results in an outflow in the cash flow statement. |
| 25 | Correct sequence for Cash Flow Statement preparation | (2) (D), (A), (C), (B) | The proper sequence involves first determining net profit before tax (D), then calculating cash from operations (A), followed by investing (C) and financing activities (B). |
| 26 | Adjustment for overvaluation of closing stock | (3) (A) and (D) only | If closing stock is overvalued, it must be reduced from the current year’s profit and added to the previous year’s profit. |
| 27 | Oversubscription definition | (2) Number of shares applied for is more than the number of shares issued. | Oversubscription occurs when investors apply for more shares than the company offers, leading to an excess in demand compared to supply. |
| 28 | Amount transferred to capital reserve | (2) ₹14,000 | Shares were forfeited and reissued at a discount; the difference between the forfeited amount and the reissue price is transferred to the capital reserve. |
| 29 | Journal entry for debentures issued and redeemed at premium | (4) (B), (C), and (D) only | The issue involves debiting loss on issue and crediting the security premium and premium on redemption. The journal entry excludes "discount on issue of debentures" in this case. |
| 30 | Match List-I with List-II (Share Forfeiture) | (2) (A) - (IV), (B) - (III), (C) - (II), (D) - (I) | This matches the accounts related to share forfeiture and the respective amounts to be debited/credited during forfeiture and reissue. |
| 31 | Correct sequence in context of debentures | (4) (C), (B), (D), (A) | The correct sequence involves (C) allotment of debentures, (B) premium/discount, (D) interest on debentures, and finally (A) redemption of debentures. |
| 32 | Interest rate for delay in refunding subscription amount | (1) 15% | Under SEBI regulations, companies must pay interest at 15% if there’s a delay in refunding application money after the stipulated time. |
| 33 | Calls in advance authorization | (3) Articles of Association | The company's Articles of Association authorize the board to accept calls in advance from shareholders. |
| 34 | Effect of profit on C's death | (1) Profit and Loss Account will be debited. | The share of profit due to a deceased partner is transferred to his/her capital account by debiting the Profit and Loss Account. |
| 35 | Value of machinery in new Balance Sheet | (1) ₹49,500 | Machinery value = ₹50,000 – 1% depreciation = ₹49,500. Depreciation is subtracted to determine the book value of the machinery. |
CUET Previous Year Question Paper PDF
| CUET Accountancy Previous Year Question Papers | CUET Question Paper 2023 |
| CUET Question Paper 2022 | CUET Question Paper 2021 |
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CUET Questions
1. Formaldehyde undergoes Cannizzaro reaction because
(A) It has alpha-hydrogen atom.
(B) It does not have alpha-hydrogen atom.
(C) It does not undergo self-oxidation and reduction on heating with concentrated alkali.
(D) It undergoes self-oxidation and reduction on heating with concentrated alkali.
Formaldehyde undergoes Cannizzaro reaction because
(A) It has alpha-hydrogen atom.
(B) It does not have alpha-hydrogen atom.
(C) It does not undergo self-oxidation and reduction on heating with concentrated alkali.
(D) It undergoes self-oxidation and reduction on heating with concentrated alkali.
(A) It has alpha-hydrogen atom.
(B) It does not have alpha-hydrogen atom.
(C) It does not undergo self-oxidation and reduction on heating with concentrated alkali.
(D) It undergoes self-oxidation and reduction on heating with concentrated alkali.
- (A) It has alpha-hydrogen atom
- (B) It does not have alpha-hydrogen atom
- (C) It does not undergo self-oxidation and reduction on heating with concentrated alkali
- (D) It undergoes self-oxidation and reduction on heating with concentrated alkali
2. Match List-I with List-II.List-I List-II (A) Confidence level (I) Percentage of all possible samples that can be expected to include the true population parameter (B) Significance level (III) The probability of making a wrong decision when the null hypothesis is true (C) Confidence interval (II) Range that could be expected to contain the population parameter of interest (D) Standard error (IV) The standard deviation of the sampling distribution of a statistic
Choose the correct answer from the options given below:
Match List-I with List-II.
| List-I | List-II |
|---|---|
| (A) Confidence level | (I) Percentage of all possible samples that can be expected to include the true population parameter |
| (B) Significance level | (III) The probability of making a wrong decision when the null hypothesis is true |
| (C) Confidence interval | (II) Range that could be expected to contain the population parameter of interest |
| (D) Standard error | (IV) The standard deviation of the sampling distribution of a statistic |
Choose the correct answer from the options given below:
- (A)-(I), (B)-(III), (C)-(II), (D)-(IV)
- (A)-(I), (B)-(III), (C)-(IV), (D)-(II)
- (A)-(I), (B)-(II), (C)-(IV), (D)-(III)
- (A)-(III), (B)-(IV), (C)-(I), (D)-(II)
3. If \( y = e^{{2}\log_e t} \) and \( x = \log_3(e^{t^2}) \), then \( \frac{dy}{dx} \) is equal to:
If \( y = e^{{2}\log_e t} \) and \( x = \log_3(e^{t^2}) \), then \( \frac{dy}{dx} \) is equal to:
- \( \frac{1}{4t\sqrt{t}} \)
- \({2t^2} \)
- \( \frac{\log_e 3}{4t\sqrt{t}} \)
- \( \frac{2t^2}{e^{\frac{1}{2}\log_e t}} \)
4. The correct solution of \(-22 < 8x - 6 \leq 26\) is the interval:
The correct solution of \(-22 < 8x - 6 \leq 26\) is the interval:
- \([-2, 4]\)
- \((-2, 4]\)
- \((-2, 4)\)
- \([-2, 4)\)
5. For the curve \( y(1 + x^2) = 2 - x \), if \(\frac{dy}{dx} = \frac{1}{A}\) at the point where the curve crosses the x-axis, then the value of \( A \) is:
For the curve \( y(1 + x^2) = 2 - x \), if \(\frac{dy}{dx} = \frac{1}{A}\) at the point where the curve crosses the x-axis, then the value of \( A \) is:
- 5
- -5
- -1
- 0
6. A sample size of \(x\) is considered to be sufficient to hold the Central Limit Theorem (CLT). The value of \(x\) should be:
A sample size of \(x\) is considered to be sufficient to hold the Central Limit Theorem (CLT). The value of \(x\) should be:
- less than 20
- greater than or equal to 30
- less than 30
- sample size does not affect the CLT
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