CUET (UG) Accountancy Sample Paper

CUET (UG) Exam Section II Domain Subject Accountancy Sample Paper for online mock practice. Solved Practice set of Account as per latest syllabus and exam pattern is very useful for upcoming 2024-2025 academic session.

Sample Paper : CUET (UG) Accountancy

Instruction : Attempt any 40 questions, out of 50.
Total Time : 45 Minutes

Q.1: Donation can be
(a) general donation
(b) specific donation
(c) Both (a) and (b)
(d) None of these

Show Answer
Ans : (c) Both (a) and (b)

Q.2: Receipt and payment account shows
(a) income and expenditure
(b) profit and loss
(c) saving and deficit
(d) cash receipts and payments

Show Answer
Ans : (d) cash receipts and payments

Q.3: Debit balance in receipts and payments account was shown as 80,000, subscription received amounted to 9,600 out of which 3,000 is related to next year. According to you, what amount will be shown in receipts and payments account?
(a) 80,000
(b) 89,600
(c) 9,600
(d) 86,600

Show Answer
Ans : (b) 89,600

Q.4: Why a partnership firm needs partnership deed?
(a) It acts as a proof in any dispute
(b) It regulates rights of partners
(c) It represents duties and liabilities of partners
(d) All of the above

Show Answer
Ans : (d) All of the above

Q.5: Where a partner is entitled to interest on capital contributed by him, such interest will be payable
(a) only out of profits
(b) only out of capital
(c) Both (a) and (b)
(d) None of the above

Show Answer
Ans : (a) only out of profits

Q.6: A partner withdrew 4,000 per month from 1st July, 2020, on beginning of every month. Accounts are closed at 31st March, 2021. Calculate interest on drawings while rate of interest is 10% per annum.
(a) 1,600
(b) 1,800
(c) 1,500
(d) 2,200

Show Answer
Ans : (c) 1,500

Q.7: When goodwill is not purchased, goodwill account can
(a) never be raised in the books
(b) be raised in thebooks
(c) be partially raised in the books
(d) be raised as per the agreement of the partners

Show Answer
Ans : (a) never be raised in the books

Q.8: Weighted average method of calculating goodwill is used when
(a) profits are not equal
(b) profits show a trend
(c) profits are fluctuating
(d) None of these

Show Answer
Ans : (b) profits show a trend

Q.9: A firm earns 1,20,000 as its annual profits. The normal rate of profit being 10%. Assets of firm are 14,40,000 and liabilities are 4,40,000. Find value of goodwill by capitalisation method.
(a) 4,00,000
(b) 2,80,000
(c) 2,00,000
(d) 3,60,000

Show Answer
Ans : (c) 2,00,000

Q.10: Calculate new profit sharing ratio.
(a) 5 : 4 : 2
(b) 5 : 4 : 1
(c) 3 : 4 : 3
(d) None of these

Show Answer
Ans : (c) 3 : 4 : 3

Q.11: After reconstitution, the ratio in which all the partners share future profits and losses is called
(a) new ratio
(b) old ratio
(c) sacrificing ratio
(d) gaining ratio

Show Answer
Ans : (a) new ratio

Q.12: A and B are partners in a firm sharing profit and losses 2 : 3. With effect from 1st April, 2022, they decided to share profits and loss equally. What will be B’s gain/sacrifice?
(a) Gain 1/5
(b) Sacrifice 1/5
(c) Gain 1/10
(d) Sacrifice 1/10

Show Answer
Ans : (d) Sacrifice 1/10

Q.13: Reserve or general reserve appearing in the balance sheet will be divided among old partners during admission in ………… ratio.
(a) gaining
(b) new
(c) sacrificing
(d) old

Show Answer
Ans : (d) old

Q.14: …… goodwill is the excess of desired total capital of firm over the actual combined capital of all partners.
(a) Premium
(b) Share
(c) Hidden
(d) Old

Show Answer
Ans : (c) Hidden

Q.15: X and Y share profits in the ratio pf 3 : 2. Z was admitted as a partner who gets 1/5 share. New profit sharing ratio, if Z acquires 3/20 from X and 1/20 from Y would be
(a) 9 : 7 : 4
(b) 8 : 8 : 4
(c) 6 : 10 : 4
(d) 10 : 6 : 4

Show Answer
Ans : (a) 9 : 7 : 4

Q.16: Decrease in liability at the time of retirement of partner is
(a) debited to revaluation account
(b) credited to revaluation account
(c) debited to goodwill account
(d) Both (b) and (c)

Show Answer
Ans : (b) credited to revaluation account

Q.17: The ratio in which the retiring partner’s share of goodwill is debited to the capital accounts of continuing partners’ is
(a) old ratio
(b) new ratio
(c) gaining ratio
(d) sacrificing ratio

Show Answer
Ans : (c) gaining ratio

Q.18: A, B and C are partners with capitals 1,00,000, 75,000 and 50,000 respectively. On C’s retirement, his share is acquired by A and B in ratio of 5 : 3. Gaining ratio will be
(a) 3 : 2
(b) 2 : 2
(c) 5 : 3
(d) None of these

Show Answer
Ans : (c) 5 : 3

Q.19: Partners may dissolve a firm by mutual agreement. This is specified in Section ……… of the Act.
(a) 39
(b) 40
(c) 41
(d) 42

Show Answer
Ans : (b) 40

Q.20: At the time of dissolution of a partnership firm, the provision for doubtful debts is transferred to which account?
(a) Realisation account
(b) Partner’s capital account
(c) Cash account
(d) None of the above

Show Answer
Ans : (a) Realisation account

Q.21: Realisation account is prepared at the time of …… .
(a) admission of a partner
(b) change in profit sharing ratio
(c) dissolution of a firm
(d) dissolution of partnership only

Show Answer
Ans : (c) dissolution of a firm

Q.22: Companies Act is governed by
(a) RBI
(b) SEBI
(c) Partnership Act
(d) Ministry of Corporate Affairs

Show Answer
Ans : (d) Ministry of Corporate Affairs

Q.23: Which amongst the following shares conter voting rights on its holders?
(a) Equity shares
(b) Redeemable preference shares
(c) Participatory preference shares
(d) None of the above

Show Answer
Ans : (a) Equity shares

Q.24: Shares for consideration other than cash can be issued at
(a) par
(b) premium
(c) discount
(d) Both (a) and (b)

Show Answer
Ans : (d) Both (a) and (b)

Q.25: The balance of sinking fund investment account after the realisation of investments is transferred to
(a) statement of profit and loss
(b) debentures account,
(c) sinking fund account
(d) None of the above

Show Answer
Ans : (c) sinking fund account

Q.26: Name the sub-head under which the ‘premium on redemption of debentures’ appears in the balance sheet?
(a) Shareholders’ fund
(b) Non-current liabilities
(c) Long-term borrowings
(d) None of the above

Show Answer
Ans : (c) Long-term borrowings

Q.27: Discount on issue of debentures is
(a) capital loss
(b) capital income
(c) revenue loss
(d) revenue income

Show Answer
Ans : (a) capital loss

Q.28: Which of the following is not included under the head shareholders’ fund?
(a) Share capital
(b) Reserves and surplus
(c) Money received against share warrants
(d) Long-term provisions

Show Answer
Ans : (d) Long-term provisions

Q.29: Securities premium reserve is shown on the liabilities side in the balance sheet under the head
(a) reserves and surplus
(b) general reserve
(c) share capital
(d) current liabilities

Show Answer
Ans : (a) reserves and surplus

Q.30: Livestock is a item of ……… assets under sub-head fixed assets and the major head non-current assets.
(a) intangible
(b) inventories
(c) trade receivables
(d) tangible

Show Answer
Ans : (d) tangible

Q.31: Horizontal analysis provides information in
(a) absolute terms
(b) percentage terms
(c) Both (a) and (b)
(d) different terms

Show Answer
Ans : (c) Both (a) and (b)

Q.32: Sumatra limited wants to assess the future profit earning capacity of its business. It will conduct
(a) external analysis
(b) short-term analysis
(c) long-term analysis
(d) None of these

Show Answer
Ans : (c) long-term analysis

Q.33: The most commonly used tools for financial analysis are
(a) horizontal analysis
(b) vertical analysis
(c) ratio analysis
(d) All of these

Show Answer
Ans : (d) All of these

Q.34: …… ratios are a measure of the speed with which various accounts are converted into revenue from operations or cash.
(a) Activity
(b) Liquidity
(c) Debt
(d) Profitability

Show Answer
Ans : (a) Activity

Q.35: The immediate solvency ratio is
(a) quick ratio
(b) current ratio
(c) debtors turnover ratio
(d) stock turnover ratio

Show Answer
Ans : (a) quick ratio

Q.36: ABC Co. extends credit terms of 45 days to its customers. Its credit collection would be considered poor if its average collection period was
(a) 30 days
(b) 36 days
(c) 47 days
(d) 37 days

Show Answer
Ans : (c) 47 days

Q.37: What is highly liquid investment?
(a) Cash convertible investment
(b) Short-term investment
(c) Cash equivalents
(d) None of the above

Show Answer
Ans : (c) Cash equivalents

Q.38: Mention the net amount of source or use of cash when a fixed asset (having book value 1,20,000) is sold at a loss of 40,000 in term of cash flow.
(a) 1,20,000
(b) 40,000
(c) 80,000
(d) 1,60,000

Show Answer
Ans : (c) 80,000

Q.39: Cash flow statement activities consists of
(a) operating Profit
(b) decrease/increase in current assets
(c) decrease/increase in current assets
(d) All of the above

Show Answer
Ans : (d) All of the above

Q.40: Modern computerized accounting system is based on the concept of
(a) software
(b) hardware
(c) database
(d) spreadsheets

Show Answer
Ans : (c) database

Q.41: …………. is an integrated set of objects that constitute the report.
(a) Front-end interface
(b) Back-end database
(c) Data processing
(d) Reporting system

Show Answer
Ans : (d) Reporting system

Q.42: Name the software used for controlling internal functions, such as reading data input devices.
(a) System software
(b) Application software
(c) Connectivity software
(d) None of the above

Show Answer
Ans : (a) System software

Q.43: Which of the following is an accounting software?
(a) Tally
(b) Microsoft Office
(c) Photoshop
(d) Notepad

Show Answer
Ans : (a) Tally

Q.44: With the help of ………. voucher, all outflows of money are recorded.
(a) received
(b) payment
(c) contra
(d) journal

Show Answer
Ans : (b) payment

Q.45: The balance sheet is prepared as per the
(a) Schedule I
(b) Schedule II
(c) Schedule III
(d) Schedule lV

Show Answer
Ans : (c) Schedule III

Q.46: For which of the following sectors, DBMS will be useful?
(a) Universities
(b) Manufacturing
(c) Human resources
(d) All of the above

Show Answer
Ans : (d) All of the above

Q.47: MS Access is a
(a) customised software
(b) relational DBMS
(c) operating system
(d) All of the above

Show Answer
Ans : (b) relational DBMS

Q.48: Which of the following is not a function of database management system?
(a) Data storage management
(b) Data dictionary management
(c) Recording accounting data
(d) Recovery management

Show Answer
Ans : (c) Recording accounting data

Q.49: Spreadsheets are also known as
(a) worksheets
(b) paper sheet
(c) notebook
(d) All of these

Show Answer
Ans : (a) worksheets

Q.50: In the given syntax, (rate, nper, pv, fv) nper means
(a) number of years
(b) principal amount
(c) interest rate
(d) number of payment period for an investment

Show Answer
Ans : (d) number of payment period for an investment

Answer Key : CUET (UG) Accountancy Sample Paper

1. (c)2. (d)3. (b)4. (d)5. (a)6. (c)7. (a)8. (b)9. (c)10. (c)
11. (a)12. (d)13. (d)14. (c)15. (a)16. (b)17. (c)18. (c)19. (b)20. (a)
21. (c)22. (d)23. (a)24. (d)25. (c)26. (c)27. (a)28. (d)29. (a)30. (d)
31. (c)32. (c)33. (d)34. (a)35. (a)36. (c)37. (c)38. (c)39. (d)40. (c)
41. (d)42. (a)43. (a)44. (b)45. (c)46. (d)47. (b)48. (c)49. (a)50. (d)

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