List of top Accountancy Questions on Partnership asked in CUET (UG)

Rohit a partner paid the realisation expenses of Rs 10,000 and he was to get a renumeration of Rs 12,000 for completing the dissolution process and realisation expenses were borne by Rohit. The amount transferred to his capital A/c will be :
Arrange the following statements in proper sequence in context of admission of partner.
A. Finalising terms for admission of new partner
B. Calculation of sacrificing/ gaining ratio
C. Finalising balance in partner's capital A/c
D. Calculation of new profit sharing ratio
E. Valuation and adjustment of goodwill
Choose the correct answer from the options given below:
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 capital
(B) In paying the secured debts of the firm to the third parties
(C) In paying each partner proportionately what is due to him/her from the firm for advances as distinguished from capital
(D) The residue, if any shall be divided among the partner’s in their profit sharing ratio
(E) In paying unsecured debt of firm to third parties
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In the absence of partnership agreement, mutual relations of partners are governed by the ________
Y and Z are partners in a firm. If W is admitted as a new partner, what will happen?
On dissolution of partnership firm out of total debtors of Rs 2,50,000, Rs 10,000 became bad and the rest realised 70%, in the given case Bank A/c will be debited by :
The dissolution of Partnership may take place due to:
A. Retirement of Partner
B. Death of Partner
C. Insolvency of Partner
D. Admission of New Partner
E. Completion of Venture, if partnership formed for that purpose
Choose the correct answer from the options given below:
Select out of the following that is not considered as one of the modes of reconstitution of a partnership firm.
Salary of a partner is shown in
Identify the way by which the clauses of partnership deed can be altered.
At the time of admission of a new partner general reserve appearing in the old balance sheet is transferred to_______
The capital accounts of partners will always show a ________ balance under fixed capital account method
Aman and Mohan, partners of a firm decided to dissolve the business on 31-03-22. The firm decided to pay realisation expenses of ₹ 1,000 on behalf of Mohan. ₹1000 will be debited to
At the time of admission of partner if goodwill exist in the books of account it will be written off among:
On retirement of a partner, the retiring partner's capital account will be credited with ______
Identify the correct sequence of current assets in company's Balance sheet?
A. Bills Receivables 
B. Cash & cash equivalents 
C. Short term loans & advances 
D. Inventories 
E. Current investments 
Choose the correct answer from the options given below: