by DeepWebLabs
CUET-UG SERIES
Accountancy

Capital Account

8 previous year questions.

Volume: 8 Ques
Yield: Medium

High-Yield Trend

2
2024
6
2023

Chapter Questions
8 MCQs

01
PYQ 2023
medium
accountancy ID: cuet-ug-
Match List I with List II

LIST I

LIST II

AOnly Capital A/c existICredited to partner's capital account
BCapital account balance remain unchanged IIDebited to Partner's Capital Account
CFresh/additional capital brought in by partnerIIIFixed Capital Account
DPermanent withdrawalIV Fluctuating Capital Account

Choose the correct answer from the options given below:
1
A-I, B-II, C-III, D-IV
2
A-II, B-III, C-IV, D-I
3
A-IV, B-III, C-I, D-II
4
A-III, B-IV, C-I, D-II
02
PYQ 2023
medium
accountancy ID: cuet-ug-
Ninza Ltd. forfeited shares of each, on which per share as called up and per share was paid up. The amount with which share Capital Account will be debited at the time of forfeiture of Share will be:
1
2
3
4
03
PYQ 2023
medium
accountancy ID: cuet-ug-
At the time of retirement of a Partner, gain on revaluation will be credited to :
1
Capital A/c od retiring partner
2
Capital A/c of all partners in their old Profit Sharing ratio
3
Capital accounts of remaining partners in their old Profit sharing ratio
4
Capital A/c of the remaining Partners in their new Profit Sharing ratio
04
PYQ 2023
medium
accountancy ID: cuet-ug-
P, Q, and R are partners in a firm sharing profits and losses in the ratio of . R retires and the balance in his capital A/c after making necessary adjustments works out to be . However P and Q agreed to pay him in full settlement of his claim. Then the amount to be debited to P's capital A/c would be:
1
2
3
4
05
PYQ 2023
medium
accountancy ID: cuet-ug-
Match List - I with List - II
List - IList - II
(A) Authorised Capital(II) Maximum amount of share capital a company could raise during its lifetime
(B) Reserve Capital(I) A portion of uncalled share capital will be called at the time of winding up
(C) Issued Capital(III) Capital issued to public for subscription
(D) Subscribed but not fully paid capital(IV) Amount called up and received but not fully paid

Choose the correct answer from the options given above:
1
(A)-(II), (B)-(I), (C)-(III), (D)-(IV)
2
(A)-(II), (B)-(III), (C)-(IV), (D)-(I)
3
(A)-(I), (B)-(IV), (C)-(I), (D)-(II)
4
(A)-(II), (B)-(I), (C)-(IV), (D)-(III)
06
PYQ 2023
medium
accountancy ID: cuet-ug-
Match LIST I with LIST II

LIST I

LIST II
AGoodwill written off ICredit side of Profit and Loss A/c
BPartner's Salary IIDebit side of Partner's Capital A/c
CBad Debts RecoveredIIIDebit side of Profit and Loss A/c
DManager's CommissionIVCredit side of Partner's Capital A/c
Choose the correct answer from the options given below
1
(A)-(I), (B)-(II), (C)-(III), (D)-(IV)
2
(A)-(II), (B)-(IV), (C)-(III), (D)-(I)
3
(A)-(II), (B)-(III), (C)-(IV), (D)-(I)
4
(A)-(II), (B)-(IV), (C)-(I), (D)-(III)
07
PYQ 2024
medium
accountancy ID: cuet-ug-
Need for valuation of goodwill arises in the following circumstances:
(A) Admission of a new partner
(B) Change in profit sharing ratio among the existing partners
(C) Dissolution of the partnership firm involving sale of business as a going concern
(D) Death of a partner
Choose the correct answer from the options given below:
1
(A), (B) and (D) only
2
(A), (B) and (C) only
3
(A), (B), (C) and (D)
4
(B), (C) and (D) only
08
PYQ 2024
medium
accountancy ID: cuet-ug-
Balance Sheet provides information about the financial position of the enterprise:
1
At a particular date
2
Over a period of time
3
For a period of time since its inception
4
For the last 5 years