CUET UG 2024 Accountancy Previous Year Written Paper

1. Accountancy (17 May 2024 - Shift 2B) Q. No. Question Options Correct Answer 1 Match List-I (Account for forfeiture) with List-II (Amount to be debited/credited). A. (A)-(I), (B)-(II), (C)-(III), (D)-(IV) B. (A)-(IV), (B)-(III), (C)-(II), (D)-(I) C. (A)-(I), (B)-(II), (C)-(IV), (D)-(III) D. (A)-(III), (B)-(IV), (C)-(I), (D)-(II) B 2 400 shares of Rs. 50 each were forfeited for non-payment of final call of Rs. 10. Reissued at Rs. 45 as fully paid-up. Amount to capital reserve? A. Rs. 15,000 B. Rs. 14,000 C. Rs. 16,000 D. Rs. 13,000 B 3 When debentures are issued and redeemed at premium, identify the correct journal entry combination. A. (A), (B) and (D) only B. (A), (B) and (C) only C. (A), (B), (C) and (D) D. (B), (C) and (D) only D 4 Arrange in sequence: (A) Payment, (B) Creation of DRR, (C) Issue of debentures, (D) Redemption becomes due. A. (A), (B), (C), (D) B. (A), (C), (B), (D) C. (B), (A), (D), (C) D. (C), (B), (D), (A) D 5 Interest rate for delayed subscription refunds beyond 8 days? A. 15% B. 12% C. 6% D. SBI prevailing rate A 6 Who authorizes a company to accept calls in advance? A. Shareholders B. Board of Directors C. Articles of Association D. Memorandum of Association C 7 Treatment for giving effect to profit in case of a partner's death. A. P&L Dr. B. P&L Appropriation Dr. C. P&L Cr. D. P&L Appropriation Cr. B 8 Machinery valued at Rs. 45,000 is undervalued by 10%. Value in new Balance Sheet? A. Rs. 49,500 B. Rs. 50,000 C. Rs. 40,000 D. Rs. 40,500 B 9 Classification of "Dividend received" in Cash Flow Statement. A. Operating B. Financing C. Investing D. Cash equivalents C 10 Authority that set the limit of maximum 50 partners in a firm. A. Partnership Act 1932 B. State Govt C. Contract Act 1872 D. Central Govt D 11 Example of a sequential code in accounting systems. A. CL001 B. 100-199 C. SJ D. HQ A 12 Treatment of Workmen Compensation Reserve with no claim at admission. A. Debited to old partners B. Credited to all partners C. Credited to old partners D. Debited to all partners C 13 Change in ratio from 3:3:4 to equal. Identify gain/sacrifice. A. A gains 1/30, B gains 1/30, C sacrifices 2/30 B. A gains 2/30, B gains 1/30, C sacrifices 3/30 C. A sacrifices 1/30, B gains 3/30, C sacrifices 2/30 D. A gains 2/30, B gains 3/30, C sacrifices 5/30 A 14 Match drawings intervals (List-I) with interest month calculation (List-II). A. (A)-I, (B)-II, (C)-III, (D)-IV B. (A)-I, (B)-III, (C)-II, (D)-IV C. (A)-IV, (B)-II, (C)-I, (D)-III D. (A)-IV, (B)-III, (C)-II, (D)-I D 15 Guarantee to new partner: Deficiency borne by Kavita if Mohan is guaranteed Rs. 25,000. +1 A. Rs. 4,000 B. Rs. 2,000 C. Rs. 6,000 D. Rs. 4,500 A 16 New profit sharing ratio after admitting Jyoti for 3/10 share. A. 4:3:3 B. 3:4:3 C. 3:3:4 D. 3:2:1 A 17 Journal entry combination for goodwill when new partner brings cash and old partner gains. A. (A), (B), (D) B. (A), (B), (C) C. (A), (B), (C), (D) D. (B), (C), (D) only B 18 Treatment of purchase of goodwill in Cash Flow Statement. A. Operating B. Financing C. Investing D. Extraordinary C 19 Components of a Computerised Accounting System. A. Data, Report, Ledger, Hardware, Software B. Data, People, Procedure, Hardware, Software C. People, Procedure, Ledger, Data, Chart D. Data, Coding, Procedure, Rules, Output B 20 What the Sales and Accounts Receivable Subsystem deals with. A. Recording Sales, Ledger, Receivables B. Budget preparation C. Final accounts preparation D. Purchase/payment to creditors A 21 Name of common fields used in table relationships. A. Joint B. Main C. Table D. Key D 22 Transfer of bank overdraft on dissolution. A. Bank A/c B. Realisation A/c C. Partner's Capital D. Partner's Loan B 23 Sequence of the life of a company: (A) Commencement, (B) Incorporation, (C) Promotion, (D) Floatation. A. A, B, C, D B. A, C, B, D C. B, A, D, C D. C, B, D, A D 24 Correct order of Capital: (A) Subscribed, (B) Issued, (C) Authorised, (D) Paid-up, (E) Called-up. A. C, B, A, D, E B. B, C, A, D, E C. C, B, A, E, D D. B, C, A, E, D C 25 Items included in Deceased Partner's Capital Account. A. A, B, D, E only B. A, B, C, D only C. A, B, C only D. A, B, C, E only B 26 Sequence for calculating operating cash flows: (A) Operating profit, (B) Cash from operations, (C) Tax paid, (D) Net cash, (E) Amortisation. A. E, C, D, A, B B. E, A, D, B, C C. E, A, B, C, D D. A, B, C, D, E C 27 Calculation of Trade Receivables Turnover Ratio. A. 8.18 times B. 8.23: 1 C. 8.18% D. 8.81: 1 A 28 Calculation of Average Collection Period. A. 30 days B. 60 days C. 45 days D. 15 days C 29 Calculation of Trade Payables Turnover Ratio. A. 29.6 times B. 2.96 times C. 29.6% D. 2.69: 1 B 30 Calculation of Average Payment Period. A. 123 days B. 121 days C. 132 days D. 133 days A 31 Categorisation of Receivables/Payables Turnover Ratios. A. Liquidity B. Solvency C. Activity D. Profitability C 32 Mode of dissolution followed by G, K, and B. +1 A. By Agreement B. Contingencies C. Notice D. Compulsory A 33 Determine the amount/balance of Profit and Loss Account. A. (Cr.) Rs. 90,000 B. (Dr.) Rs. 90,000 C. (Cr.) Rs. 1,30,000 D. (Dr.) Rs. 1,30,000 B 34 Determine Gain/Loss on Realisation. A. Loss Rs. 2,40,000 B. Gain Rs. 24,000 C. Loss Rs. 1,70,000 D. Loss Rs. 2,10,000 A 35 Journal entry for realisation expenses paid by partner G. +1 A. Realisation Dr to Cash B. Realisation Dr to G's Capital C. G's Capital Dr to Realisation D. Cash Dr to Realisation B 36 Ratio in which existing P&L will be shared by partners. +1 A. 5:3:2 B. Equal C. 4:3:2 D. Closing capital ratio A 37 Libraries run by charitable trusts are examples of? A. Partnership B. Not for profit C. Companies D. Cooperatives B 38 Main source of revenue for 'not for profit' organisation. A. Sale of goods B. Sale of periodicals C. Subscription D. Sale of assets C 39 Match List-I (Capital/Reserves) with List-II (Description). A. (A)-I, (B)-II, (C)-III, (D)-IV B. (A)-I, (B)-III, (C)-II, (D)-IV C. (A)-I, (B)-II, (C)-IV, (D)-III D. (A)-III, (B)-IV, (C)-I, (D)-II D 40 Items affecting Revaluation Account at reconstitution. A. Increase in assets B. Drawings C. Interest on capital D. Partner's salary A 41 Sequence for preparing final accounts of a partnership. A. C, B, A, D B. A, C, B, D C. B, A, D, C D. C, B, D, A A 42 What window dressing in accounts involves. A. Manipulation for better picture B. Excessive depreciation C. Tax avoidance D. Tax reduction A 43 Match Partner items (List-I) with account side (List-II). A. (A)-I, (B)-II, (C)-III, (D)-IV B. (A)-I, (B)-III, (C)-II, (D)-IV C. (A)-IV, (B)-III, (C)-II, (D)-I D. (A)-III, (B)-IV, (C)-I, (D)-II C 44 Items affecting Revaluation Account at admission. A. (A), (B), (C) B. (A), (B), (D) C. (A), (C), (D) D. (B), (C), (D) C 45 Match Cash flow items (List-I) with Activity type (List-II). A. (A)-I, (B)-II, (C)-III, (D)-IV B. (A)-I, (B)-III, (C)-II, (D)-IV C. (A)-I, (B)-II, (C)-IV, (D)-III D. (A)-III, (B)-IV, (C)-I, (D)-II D 46 Correct statements regarding Common Size Statements. A. (A), (B), (D) B. (A), (B), (C) C. (A), (C), (D) D. (B), (C), (D) C 47 Cash flow nature for acquiring machinery by cheque. A. Investing/Outflow B. Investing/Inflow C. Investing/No flow D. Operating/Outflow A 48 Proper sequence for preparing Cash Flow Statement. A. A, B, C, D B. D, A, C, B C. B, A, D, C D. C, B, D, A B 49 Adjustments for overvaluation of closing stock for goodwill. A. (A), (B), (D) B. (A), (C) C. (A), (D) D. (B), (C), (D) B 50 Definition of Oversubscription situation. A. Applied equals issued B. Applied more than issued C. Applied less than issued D. Face value less than issue price B