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CUET Accountancy 2024 Accountancy Mock Tests & Questions

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CUET Accountancy 2024

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61 min · 50 questions · 250 marks

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CUET Accountancy 2024 1 section

Accountancy

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61 min · 50 questions · 250 marks

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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
Match List-I with List-II List-I (Name of account to be debited or credited, when Shares are forfeited) | List-II (Amount to be debited) (A) Shares Capital Account | (I) Debited with amount not received (B) Shares Forfei…
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
400 shares of ₹50 each issued at par were forfeited for non-payment of final call of ₹10 per share. The shares were reissued at ₹45 per share as fully paid-up. The amount transferred to capital reserve is:
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
When debentures are issued at premium and redeemed at premium, the journal entry will have the following combination: (A) Discount on issue of debentures account is credited (B) Loss on issue of debentures account is deb…
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
Arrange the following in the correct sequence in the context of debenture. (A) Payment to debenture-holders (B) Creation of DRR (C) Issue of debentures (D) Redemption becomes due Choose the correct answer from the option…
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
If a delay occurs beyond 8 days in refunding the subscription amount, failing to gather the minimum subscription, from the date of closure of the subscription list, the company shall be liable for interest at the rate of…
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
A company can accept calls in advance, if authorised by:
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
A, B and C are partners sharing profits in the ratio of 3:2:1. C died on 1st July, 2023. On this date, final accounts were prepared to ascertain profits for the period. It resulted in a profit of ₹1,75,000 to the firm. T…
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
On the date of admission of a partner there was a balance of ₹45,000 in the account of machinery. It was found undervalued by 10%. The value of machinery will appear in the new Balance Sheet at:
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
Dividend received is:
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
A partnership can have maximum 50 partners. This limit has been set by the:
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
Which of the following is an example of sequential code?
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
If there is no claim against Workmen Compensation Reserve, it is ______ at the admission of a partner. Fill in the blank with the correct answer from the options given below.
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
A, B and C are partners sharing profits in the ratio of 3:3:4. They decide to share the future equally. The sacrifice or gain of partners are:
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
Match List-I with List-II List-I (Equal amount of drawings made) | List-II (Number of months for which interest is calculated) (A) At the end of each half year | (I) 4.5 months (B) At the beginning of each quarter | (II)…
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
Kavita and Lalita are partners, sharing profits in the ratio of 2:1. They decide to admit Mohan for 1/4th share in future profits with a guaranteed amount of ₹25,000. Both Kavita and Lalita undertake to meet the liabilit…
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
Anshu and Nitu are partners, sharing profits in the ratio of 3:2. They admitted Jyoti as a new partner for 3/10 share which she acquired 2/10 from Anshu and 1/10 from Nitu. Calculate the new profit sharing ratio of Anshu…
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
The journal entry for treatment of goodwill, when a new partner brings his share of goodwill in cash and one of the old partners gains, involves the following: (A) Gaining Partner's Capital Account is debited (B) Premium…
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
While preparing Cash Flow Statement, purchase of goodwill is treated as:
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
The components of Computerised Accounting System are:
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
The Sales and Accounts Receivable Subsystem deals with:
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
The common fields used in a relationship between tables are called:
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
On dissolution of a firm, bank overdraft is transferred to:
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
Arrange the following steps in the correct sequence of the life of a company: (A) Commencement of Business (B) Incorporation (C) Promotion (D) Floatation Choose the correct answer from the options given below:
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
Arrange the following in the correct order: (A) Subscribed Capital (B) Issued Capital (C) Authorised Capital (D) Paid-up Capital (E) Called-up Capital Choose the correct answer from the options given below:
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
The Deceased Partner's Capital Account includes the following amount/balances: (A) Opening balance of his capital (B) His share of profit/loss till the date of death (C) His share of General Reserve (D) His drawings till…
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
Identify the correct sequence of the following steps involved in calculating Cash flows from operating activities of a company: (A) Operating profit before working capital changes (B) Cash generated from operations (C) I…
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
Calculate Trade Receivables Turnover Ratio.
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
Calculate Average Collection Period.
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
Calculate Trade Payables Turnover Ratio.
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
Calculate Average Payment Period.
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
Trade Receivables Turnover Ratio and Trade Payables Turnover Ratio are categorised as:
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
What is the mode of dissolution of the firm followed by G, K and B?
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
Determine the amount of Profit and Loss Account.
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
Determine Gain/Loss on Realisation.
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
The entry for realisation expense in above case study will be:
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
Existing Profit and Loss Account in the books of the firm will be shared/borne by partners in the ratio:
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
Libraries run by charitable trusts are an example of:
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
The main source of revenue for not for profit organisation is:
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
Match List-I with List-II List-I | List-II (A) Shares Capital | (I) Will be called at the time of winding up (B) Reserve and surplus | (II) Calls in advance (C) Reserve Capital | (III) Subscribed but not fully paid (D) C…
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
Which of the following would affect the Revaluation account at the time of reconstitution of a partnership firm?
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
Identify the correct sequence to be followed while preparing final accounts of a partnership firm? (A) Profit and Loss Appropriation Account (B) Profit and Loss Account (C) Trading Account (D) Balance Sheet Choose the co…
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
Window dressing is a practice:
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
Match List-I with List-II List-I | List-II (A) Salary to partner | (I) Credit side of Partner's Capital Account (B) Interest on Partners' loan | (II) Debit side of Partner's Current Account (C) Interest on partner's draw…
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
Which of the following would affect the Revaluation Account at the time of admission of a partner? (A) Increase in assets (B) Drawings against capital (C) Recording of unrecorded assets (D) Decrease in liabilities Choose…
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
Match List-I with List-II List-I (Items of cash flow) | List-II (Type of activity) (A) Purchase of tangible assets | (I) Operating activity (B) Issue of shares | (II) Cash and cash equivalents (C) Increase in current ass…
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
Which of the following are correct in connection with the Common Size Statement? (A) Expressed as a percentage on revenue from operation (B) Horizontal analysis (C) Vertical analysis (D) Expressed as a percentage on tota…
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
Calculate the resulting cash flow and state the nature of cash flow from the following information: Acquired machinery for ₹3,50,000 by issuing cheque.
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
Arrange the following in proper sequence while preparing Cash Flow Statements: (A) Net cash flow from operating activities (B) Cash flow from financing activities (C) Cash flow from investing activities (D) Calculate net…
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
The adjustment required for overvaluation of closing stock, while calculating adjusted profit for calculating goodwill is: (A) reduction from concerned year's profit. (B) reduction from next year's profit. (C) addition t…
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CUET UG CUET Accountancy 2024 Accountancy Medium MCQ (Single Correct)
Oversubscription is a situation where the:
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