List of top Accountancy Questions asked in CUET (UG)

During a financial year, Zenith Ltd. paid $\$50,000$ as an interim dividend to its equity shareholders. Under which specific activity classification must this transaction be reported within a Cash Flow Statement prepared as per AS-3?

A company forfeited 200 equity shares of \$10 each, fully called up, on which application and allotment money of \$6 per share was paid. Out of these, 150 shares were reissued as fully paid up for \$8 per share. What exact amount must be transferred to the Capital Reserve Account?

X and Y are partners in a firm with capitals of \$60,000 and \$40,000 respectively. Z is admitted as a new partner for a $ \frac{1}{4} $th share in profits and brings in \$40,000 as his capital contribution. What is the total value of the Hidden Goodwill of the firm?

A and B are partners sharing profits in the ratio of $ 3:2 $. C is admitted as a new partner for a $ \frac{1}{5} $th share in the profits, which he acquires entirely from A. What will be the new profit-sharing ratio of A, B, and C?

Goodwill brought in cash by the incoming partner is credited to:

Cash deposited into bank by the proprietor should be recorded in:

A machine purchased for $ ₹1,50,000 $ has a residual value of $ ₹30,000 $ and useful life of 6 years. Annual depreciation under Straight Line Method will be:

A partner is entitled to salary of $ \₹ 5,000 $ per month. If salary outstanding at year end is for 2 months, the outstanding amount will be:

A bill of $ \₹ 50,000 $ was dishonoured and bank charges of $ \₹ 500 $ were paid by the holder. The total amount recoverable from the acceptor is:

If Gross Profit is $ ₹80,000 $ and Net Sales are $ ₹4,00,000 $, the Gross Profit Ratio will be:

Goods costing $ \₹ 15,000 $ were distributed as free samples. This will be recorded in:

A company forfeited 100 shares of $ \₹ 10 $ each issued at par for non-payment of final call of $ \₹ 2 $ per share. The amount forfeited will be:

If Current Assets are $ \₹ 1,20,000 $ and Current Liabilities are $ \₹ 60,000 $, then Current Ratio will be:

A firm purchased machinery for $ \₹ 2,00,000 $ on 1st April 2025. Depreciation is charged at $10%$ p.a. by Written Down Value Method. The depreciation for the first year will be:

Money received in advance from shareholders before it is actually called-up by the directors is

Which of the following items, though related to partners, is not an appropriation of profit but rather a charge against profits, and therefore is excluded from the Profit & Loss Appropriation Account?

Provisions of the Partnership Act, 1932 are applied

When a company issues shares at a premium, the company can collect securities premium along with the following:

Nominal/Authorised Share Capital is

An act done by a partner in the course of the firm's business is:

Mohan, a partner, withdrew $Rs.~20,000$ on 1st April, 2024 and $Rs.~40,000$ on 1st October, 2024. Interest on Drawings @ $6%$ p.a. on 31st March, 2025 will be

Which of the following is not an essential feature of partnership?

Which of the following most accurately explains the legal foundation governing the mutual rights and obligations of partners in a partnership firm, particularly in the absence of an express written contract?

Which of the following statements most precisely reflects the doctrine of separate legal entity as established in corporate law?

When shares are allotted on pro-rata basis, excess application money is generally adjusted towards: