CUET UG Accounts Mock Test

CUET UG Accounts Mock Test for the admission in 2025-2026.

Subject: Accountancy
Medium: English
Questions: 50

Results

#1. Donation can be

general donation

specific donation

Both (a) and (b)

None of these

#2. Receipt and payment account shows

income and expenditure

profit and loss

saving and deficit

cash receipts and payments

#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?

80,000

89,600

9,600

86,600

#4. Why a partnership firm needs partnership deed?

It acts as a proof in any dispute

It regulates rights of partners

It represents duties and liabilities of partners

All of the above

#5. Where a partner is entitled to interest on capital contributed by him, such interest will be payable

only out of profits

only out of capital

Both (a) and (b)

None of the above

#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.

1,600

1,800

1,500

2,200

#7. When goodwill is not purchased, goodwill account can

never be raised in the books

be raised in thebooks

be partially raised in the books

be raised as per the agreement of the partners

#8. Weighted average method of calculating goodwill is used when

profits are not equal

profits show a trend

profits are fluctuating

None of these

#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.

4,00,000

2,80,000

2,00,000

3,60,000

#10. Calculate new profit sharing ratio.

5 : 4 : 2

5 : 4 : 1

3 : 4 : 3

None of these

#11. After reconstitution, the ratio in which all the partners share future profits and losses is called

new ratio

old ratio

sacrificing ratio

gaining ratio

#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?

Gain 1/5

Sacrifice 1/5

Gain 1/10

Sacrifice 1/10

#13. Reserve or general reserve appearing in the balance sheet will be divided among old partners during admission in ………… ratio.

gaining

new

sacrificing

old

#14. …… goodwill is the excess of desired total capital of firm over the actual combined capital of all partners.

Premium

Hidden

Old

#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

9 : 7 : 4

8 : 8 : 4

6 : 10 : 4

10 : 6 : 4

#16. Decrease in liability at the time of retirement of partner is

debited to revaluation account

credited to revaluation account

debited to goodwill account

Both (b) and (c)

#17. The ratio in which the retiring partner’s share of goodwill is debited to the capital accounts of continuing partners’ is

old ratio

new ratio

gaining ratio

sacrificing ratio

#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

3 : 2

2 : 2

5 : 3

None of these

#19. Partners may dissolve a firm by mutual agreement. This is specified in Section ……… of the Act.

#20. At the time of dissolution of a partnership firm, the provision for doubtful debts is transferred to which account?

Realisation account

Partner’s capital account

Cash account

None of the above

#21. Realisation account is prepared at the time of …… .

admission of a partner

change in profit sharing ratio

dissolution of a firm

dissolution of partnership only

#22. Companies Act is governed by

RBI

SEBI

Partnership Act

Ministry of Corporate Affairs

#23. Which amongst the following shares conter voting rights on its holders?

Equity shares

Redeemable preference shares

Participatory preference shares

None of the above

#24. Shares for consideration other than cash can be issued at

par

premium

discount

Both (a) and (b)

#25. The balance of sinking fund investment account after the realisation of investments is transferred to

statement of profit and loss

debentures account,

sinking fund account

None of the above

#26. Name the sub-head under which the ‘premium on redemption of debentures’ appears in the balance sheet?

Shareholders’ fund

Non-current liabilities

Long-term borrowings

None of the above

#27. Discount on issue of debentures is

capital loss

capital income

revenue loss

revenue income

#28. Which of the following is not included under the head shareholders’ fund?

Share capital

Reserves and surplus

Money received against share warrants

Long-term provisions

#29. Securities premium reserve is shown on the liabilities side in the balance sheet under the head

reserves and surplus

general reserve

share capital

current liabilities

#30. Livestock is a item of ……… assets under sub-head fixed assets and the major head non-current assets.

intangible

inventories

trade receivables

tangible

#31. Horizontal analysis provides information in

absolute terms

percentage terms

Both (a) and (b)

different terms

#32. Sumatra limited wants to assess the future profit earning capacity of its business. It will conduct

external analysis

short-term analysis

long-term analysis

None of these

#33. The most commonly used tools for financial analysis are

horizontal analysis

vertical analysis

ratio analysis

All of these

#34. …… ratios are a measure of the speed with which various accounts are converted into revenue from operations or cash.

Activity

Liquidity

Debt

Profitability

#35. The immediate solvency ratio is

quick ratio

current ratio

debtors turnover ratio

stock turnover ratio

#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

30 days

36 days

47 days

37 days

#37. What is highly liquid investment?

Cash convertible investment

Short-term investment

Cash equivalents

None of the above

#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.

1,20,000

40,000

80,000

1,60,000

#39. Cash flow statement activities consists of

operating Profit

decrease/increase in current assets

All of the above

#40. Modern computerized accounting system is based on the concept of

software

hardware

database

spreadsheets

#41. …………. is an integrated set of objects that constitute the report.

Front-end interface

Back-end database

Data processing

Reporting system

#42. Name the software used for controlling internal functions, such as reading data input devices.

System software

Application software

Connectivity software

None of the above

#43. Which of the following is an accounting software?

Tally

Microsoft Office

Photoshop

Notepad

#44. With the help of ………. voucher, all outflows of money are recorded.

received

payment

contra

journal

#45. The balance sheet is prepared as per the

Schedule I

Schedule II

Schedule III

Schedule lV

#46. For which of the following sectors, DBMS will be useful?

Universities

Manufacturing

Human resources

All of the above

#47. MS Access is a

customised software

relational DBMS

operating system

All of the above

#48. Which of the following is not a function of database management system?

Data storage management

Data dictionary management

Recording accounting data

Recovery management

#49. Spreadsheets are also known as

worksheets

paper sheet

notebook

All of these

#50. In the given syntax, (rate, nper, pv, fv) nper means

number of years

principal amount

interest rate

number of payment period for an investment

FINISH

Results

#1. Donation can be

#2. Receipt and payment account shows

#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?

#4. Why a partnership firm needs partnership deed?

#5. Where a partner is entitled to interest on capital contributed by him, such interest will be payable

#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.

#7. When goodwill is not purchased, goodwill account can

#8. Weighted average method of calculating goodwill is used when

#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.

#10. Calculate new profit sharing ratio.

#11. After reconstitution, the ratio in which all the partners share future profits and losses is called

#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?

#13. Reserve or general reserve appearing in the balance sheet will be divided among old partners during admission in ………… ratio.

#14. …… goodwill is the excess of desired total capital of firm over the actual combined capital of all partners.

#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

#16. Decrease in liability at the time of retirement of partner is

#17. The ratio in which the retiring partner’s share of goodwill is debited to the capital accounts of continuing partners’ is

#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

#19. Partners may dissolve a firm by mutual agreement. This is specified in Section ……… of the Act.

#20. At the time of dissolution of a partnership firm, the provision for doubtful debts is transferred to which account?

#21. Realisation account is prepared at the time of …… .

#22. Companies Act is governed by

#23. Which amongst the following shares conter voting rights on its holders?

#24. Shares for consideration other than cash can be issued at

#25. The balance of sinking fund investment account after the realisation of investments is transferred to

#26. Name the sub-head under which the ‘premium on redemption of debentures’ appears in the balance sheet?

#27. Discount on issue of debentures is

#28. Which of the following is not included under the head shareholders’ fund?

#29. Securities premium reserve is shown on the liabilities side in the balance sheet under the head

#30. Livestock is a item of ……… assets under sub-head fixed assets and the major head non-current assets.

#31. Horizontal analysis provides information in

#32. Sumatra limited wants to assess the future profit earning capacity of its business. It will conduct

#33. The most commonly used tools for financial analysis are

#34. …… ratios are a measure of the speed with which various accounts are converted into revenue from operations or cash.

#35. The immediate solvency ratio is

#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

#37. What is highly liquid investment?

#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.

#39. Cash flow statement activities consists of

#40. Modern computerized accounting system is based on the concept of

#41. …………. is an integrated set of objects that constitute the report.

#42. Name the software used for controlling internal functions, such as reading data input devices.

#43. Which of the following is an accounting software?

#44. With the help of ………. voucher, all outflows of money are recorded.

#45. The balance sheet is prepared as per the

#46. For which of the following sectors, DBMS will be useful?

#47. MS Access is a

#48. Which of the following is not a function of database management system?

#49. Spreadsheets are also known as

#50. In the given syntax, (rate, nper, pv, fv) nper means

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