List of top Accountancy Questions on Assets & Liabilities asked in CUET (UG)

Which of the following is treated as a non-current asset in the Balance Sheet?

Calculate the Normal Rate of Return if normal profit is ₹30,000, Assets 5,30,000 and liabilities ₹30,000, while calculating the value of goodwill of the firm at the time of admission of a partner. 1. 5.6% 2.6% 3.5.3% 4.5%

Match List I with List II

List I		List II
A.	Super Profit	I.	Actual Average Profit - Normal Profit
B.	Normal Profit	II.	Super Profit × \(\frac{100}{\text{Normal rate of return}}\)
C.	Goodwill	III.	Total Assets - Outside Liabilities
D.	Capital Employed	IV.	\(\frac{\text{Capital Employed × Normal Rate of Return }}{100}\)

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Match List I with List II

LIST I		LIST II
A	Capital Reserve	I	Current Assets
B	Inventories	II	Non-Current Liabilities
C	8% Debentures	III	Current Liabilities
D	Provision for tax	IV	Reserve and Surplus

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Which of the following items are part of Intangible non current Assets:
A. Patents
B. Furniture
C. Statement of Profit & Loss A/c (Dr)
D. Goodwill
E. Trademark
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Profits made on Revaluation of Assets and Reassessment of Liabilities is distributed among whom?

The following are the items appearing in Equities and Liabilities side of Balance Sheet
A. Deferred tax Assets (Net)
B. Reserve and Surplus
C. Deferred tax Liabilities (Net)
D. Long term borrowings
E. Long term loans and Advances
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Non current Assets includes -
A. Capital work-in-Progress
B. Deferred tax Assets (net)
C. Loose tools
D. Railway slidings
E. Inventory
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Current liabilities include:
(A) Trade receivables
(B) Unclaimed dividend
(C) Interest accrued but not due on loan
(D) Acceptances
(E) 12% debentures redeemable after four years
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What are the different types of liquidity ratios
A. Interest coverage ratio 
B. Current ratio 
C. Inventory turnover ratio 
D. Gross profit ratio 
E. Acid test ratio 
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Match List-I with List-II

	LIST I: Major Head		LIST II: Sub Head
(A)	Fixed assets	(I)	Short term provisions
(B)	Current Assets	(II)	Money received against share warrants
(C)	Current Liabilities	(III)	Non current investment
(D)	Shareholder's Funds	(IV)	Inventories

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