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CUET Accountancy 2023 Accountancy Mock Tests & Questions

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CUET Accountancy 2023

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59 min · 49 questions · 245 marks

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CUET Accountancy 2023 1 section

Accountancy

Free

59 min · 49 questions · 245 marks

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Questions

Showing 49 of 49 matching questions

CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
Match List - I with List - II. List - I | List - II (A) The Accounting basis for Cash Flow Statement is | (I) Investment in shares (B) Dividend paid on Equity and Preference capital comes under | (II) Cash Basis (C) It c…
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
The common fields used in a relationship between tables are called:
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
Common Size Statements are also known as:
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
According to Indian Partnership Act, 1932, when the firm is dissolved, cash received on sale of assets are applied in following order: (A) Paying to each partner proportionately what is due to him/her on account of capit…
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
Pick the odd one out while Calculating Cash Flow from
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
Identify the cash transaction from the following:
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
AB&Co. purchased assets worth ₹ 28,80,000 from vendor. It issued debentures of ₹ 100 each at a discount of 4% in full satisfaction of the purchase consideration. The number of debentures issued to vendor is:
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
If Average Capital Employed in a firm is ₹ 9,00,000; Average Profits ₹ 2,80,000 and Normal rate of return is 20%, then value of goodwill as per capitalization of super profits is:
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
Under which Sub head we show the Security Premium in Balance Sheet?
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
Aradya Ltd. had debt equity ratio of 25: 1. State which of the following transaction will not effect the Debt Equity Ratio:
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
Lisa, Monika and Nisha are partners in a firm sharing profits and losses in the ratio of 2:2: 1. Their capital A/c stood as ₹ 50,000, ₹ 50,000 and ₹ 25,000 respectively. Monika died and balance in the reserve on that dat…
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
Debentures issued for consideration other than cash includes, debentures: A. Issued to bank as additional security B. Issued to vendor C. Issued to Public D. Issued to creditor E. Issued for cash Choose the correct answe…
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
Legend can be repositioned on the chart:
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
Shweta, Shreya and Shaniya were partners sharing profits in the ratio of 3: 2: 1. Shaniya retired from the firm and her capital, after making adjustments for reserves and gain of revaluation amounted to ₹ 4,50,000. Shani…
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
While calculating Goodwill under super profit method, the sequence followed is: A. Calculation of Super profit B. Calculation of Capital Employed C. Calculation of Normal profit D. Calculation of Average profit E. Calcul…
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
On dissolution of partnership, goodwill account is transferred to:
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
The steps in the Process of Preparing Profit and Loss Appropriation account are: (A) Transfer the net profit to the credit side of P & L Appropriation A/c (B) Divide the Profit among partners in the Profit Sharing ratio…
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
On retirement/ death of a partner, the remaining partners who have gained due to change in profit sharing ratio should compensate the:
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
On Dissolution of partnership firm out of total debtors of ₹ 2,50,000, ₹ 10,000 became bad and the rest realized 70%. In the given case Bank, A/c will be debited by:
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
Identify the correct sequence to be followed at the time of Retirement of a Partner: A. New Balance Sheet after Retirement B. Transferring balance to Retiring partner's Loan Account C. Calculation Gaining/Sacrificing Rat…
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
Calculate and state the nature of activity under cash flow statement: Acquired Machinery for ₹ 5,00,000 paying 50% by cheque and executing a bond for the balance payable:
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
Match List - I with List - II. List - I | List - II (A) Over Subscription | (I) Minimum amount that must be raised by issue of shares (B) Minimum subscription | (II) Application received is more than shares issued (C) Un…
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
On retirement, the retiring partner's capital account will be credited with: (A) His/Her Capital Balance (B) His/Her share of goodwill (C) Share of goodwill of remaining partners (D) his/her share of Reserve (E) his/her…
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
Rohit a partner paid the realisation expenses of ₹ 10,000 and he was to get a remuneration of ₹ 12,000 for completing the dissolution process and realisation expenses were borne by Rohit. The amount transferred to his ca…
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
Cash equivalents refers to: (A) Demand deposits with Bank (B) Bills receivables (C) Treasury bill (D) Commercial Paper (E) Marketable Securities Choose the correct answer from the options given below:
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
Find out cost of medicine consumed during 2020-21. Payment to creditors of medicines | ₹ 3,70,000 Creditors for medicines purchased: On 1.04.2020 | ₹ 25,000 On 31.03.2021 | ₹ 17,000 Stock of Medicines: On 1.04.2020 | ₹ 6…
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
The key combination which collapses the ribbon is:
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
Match List - I with List - II List - I | List - II (A) Authorised Capital | (I) A portion of uncalled share capital will be called at the time of winding up (B) Reserve Capital | (II) Maximum amount of share capital a co…
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
An annual report is furnished by a company to its:
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
Amount received from the sale of furniture for ₹ 7000 (Book value ₹ 10,000). The amount to be shown in receipts and payments account will be:
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
Match List - I with List - II. List - I | List - II (A) Application money should be at least ___% of the face value of the share | (I) 25% (B) The amount of Call should not exceed ___% of the face value of the share | (I…
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
The need of codification is:
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
Current liabilities include: (A) Trade receivables (B) Unclaimed dividend (C) Interest accrued but not due on loan (D) Acceptances (E) 12% debentures redeemable after four years Choose the correct answer from the options…
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
Net Capital Employed is equal to: (A) Fixed Assets + Current Assets - Long term liabilities (B) Non-current Assets + Current Assets - Current liabilities (C) Fixed Assets + Current Assets - Equity (D) Equity + Debt (E) C…
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
Other income is ₹ 5,00,000 which is 25% of Revenue from operations. Employees benefit Expenses are 30% of the Revenue from operation. Tax rate is 40%. Net profit after tax will be:
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
Find the correct sequence of procedure of issue of shares: (A) Receipt of Applications (B) Issue of prospectus (C) Allotment of Shares (D) Making call money due (E) Receiving Call money Choose the correct answer from the…
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
A, B & C were sharing profits & losses in the ratio of 3: 2: 1. They decided to share profits & losses equally in future. General reserve was appearing in their books at ₹ 60,000. Goodwill was valued at ₹ 1,20,000. The p…
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
Partnership deed should be drafted and prepared as per:
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
Identify the term that represent configuration of rows and columns.
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
Goodwill brought by Suraj will be distributed as:
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
Share of revaluation profit of Amrita and Kalyani is:
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
What is Amrita's share in workmen compensation fund?
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
What journal entry will be passed for goodwill appearing in the books?
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
A new partner can be admitted:
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
XYZ Ltd. issues 10% debentures of ₹ 12,00,000 of ₹ 100 each at a discount of 10% which will be repayable after 6 years. What type of debenture it is?
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
XYZ Ltd. issued another category of debenture which are perpetual in nature. What type of debentures they are called:
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
While issuing 10% debenture of ₹ 12,00,000 at 10% discount. What amount should be transferred to "Discount on issue of debenture A/c" if all amount is received in one instalment?
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
If 5% debenture of ₹ 8,00,000 of ₹ 100 were issued at 15% premium. Amount is payable as ₹ 25 on applications, ₹ 50 on allotment and 40 on 1st and final call. How much amount should be credited to "Security Premium Reserv…
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CUET UG CUET Accountancy 2023 Accountancy Medium MCQ (Single Correct)
Company raised a loan of ₹ 5,00,000 from PNB against 5 % debenture of ₹ 8,00,000 of ₹ 100 each as a collateral security. The "Debenture suspense A/c" will be debited with: -
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