CUET Accountancy Question Paper 2024 PDF, Download Question Paper with Answers

CUET Accountancy Question Paper 2024: CUET UG exam is a national-level entrance test for admission to the top universities in the nation. For Commerce students, Accountancy is a popular choice as a domain in Section II of the CUET 2024. The syllabus for Accountancy includes topics such as Accounting Not-for-Profit Organisation, Accounting for Partnership, Accounting for Share and Debenture Capital, and Overview of Computerized Accounting System among others.

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This Story also Contains

1. How to download CUET UG PYQ paper for free?
2. CUET UG Accountancy Syllabus
3. CUET Previous Year Question Paper accounts - Questions with solutions
4. CUET UG Exam Pattern
5. Importance of PYQs
6. Chapter-wise MCQs for CUET UG

To excel in the CUET Accountancy section, it is important to practice with Accountancy CUET sample papers and CUET accountancy previous year question papers to get an idea of the type of questions asked and the pattern of the section. Given in this article are some questions from the CUET UG previous year question paper accountancy for your practice. Comprehensive solutions are also provided so that you can understand the rationale behind the correct option.

How to download CUET UG PYQ paper for free?

Please download the whole previous year's paper with the given link below -

CUET UG Accountancy Syllabus

CUET Previous Year Question Paper accounts - Questions with solutions

Solve questions from the CUET previous year question paper Accountancy and take your preparation to the next level. CUET accounts question paper with detailed solutions will be quite beneficial as you will understand the logic behind each correct option.

Q1. As per Receipts and Payments Account for the year ended on March 31, 2020, subscriptions received were ₹ 2,50,000 subscriptions outstanding on 1-04-2019 ₹ 50,000 , Subscriptions received in advance as on 31-3-2020 are ₹ 30,000.

Subscriptions for the year 2019-20 will be:

A: ₹ 2,30,000

B: ₹ 1,50,000

C: ₹ 2,40,000

D: ₹1,70,000

Correct option: D

Solution: Amount is to be credited to Income & Expenditure A/c = Amount as per Receipts and Payments A/c – Opening outstanding subscription + Closing outstanding subscription – Closing advance subscription + Opening advance subscription
Amount is to be credited to Income & Expenditure A/c = ₹ 2,50,000 - ₹ 50,000 + Nil - ₹ 30,000 + Nil = ₹ 1,70,000.

Q2. At the time of admission of a new partner general reserve appearing in the old balance sheet is transferred to

A: All Partner's Capital A/C

B: New Partner's Capital A/C

C: Old Partner's Capital A/C

D: Gaining Partner's Capital A/C

Chapter name: Admission of a partner

Correct option: C

Solution: At the time of admission of a new partner, free reserves like general reserves, credit balance of profit and loss, and deferred revenue expenditures are to be borne by old partners in the old profit sharing ratio and hence, transferred to the Old Partner’s Capital A/c.

Q3. Match List I with List II

Choose the correct answer from the options given below:

A: A - I, B - III, C - II, D - IV

B: A - IV, B - I, C - III, D - II

C: A - II, B - I, C - IV, D - III

D: A - III, B - IV, C - I, D - II

Correct option: C

Solution: Following is the correct match- A-II, B-I, C-IV, D-III

Q4. On retirement of a partner, the retiring partner's capital account will be credited with

A: His/her share of Goodwill

B: Good will of the firm

C: Share of Good will of Remaining Partners

D: His/her share of Goodwill and share of Goodwill of Remaining Partners

Correct option: A

Solution: On retirement of a partner, the retiring partner’s capital account will be credited with

the retiring partner’s share of goodwill. Journal entry will be:

JOURNAL ENTRY

Q5. Journal entry to be passed for unrecorded assets for preparing Revaluation A/C at the time of Retirement of a partner will be

A: Assets A/C Dr. To all Partners capital A/C

B: Assets A/C Dr. To Revaluation A/c

C: Revaluation A/C Dr. To assets A/C

D: Revaluation A/C Dr. To old partner's capital A/C

Correct option: B

Solution: Following is the journal entry:

JOURNAL ENTRY

Q6. Match List I with List II

Choose the correct answer from the options given below:
A: A - IV, B - I, C - II, D - III
B: A - III, B - IV, C - I, D - II
C: A - I, B - IV, C - II, D - III
D: A - II, B - I, C - IV, D - III

Correct option: B

Solution: Following is the correct match- A-III, B-IV, C-I, D-II

Q7. Match List I with List II

LIST I LIST II

A. Cash Equivalents I. Interim Dividend paid

B. Financing Activities II. Selling & Distribution expenses paid

C. Operating Activities III. Marketable securities

D. Investing Activities IV. Dividend received on Shares held as investment

Choose the correct answer from the options given below:

A: A - IV, B - I, C - II, D - III

B: A - III, B - I, C - II, D - IV

C: A - III, B - IV, C - II, D - I

D: A - III, B - IV, C - I. D - II

Correct option: B

Solution: Following is the correct match- A-III, B-I, C-II, D-IV

Q8. At the time of retirement of a Partner the remaining gaining partners should compensate the_____

A: Remaining Partners only

B: Retiring Partners only

C: Retiring Partners as well as remaining partners who have sacrificed

D: Sacrificing partners only

Correct option: C

Solution: At the time of retirement of a Partner the remaining gaining partners should compensate the retiring partners as well as remaining partners who have sacrificed.

JOURNAL ENTRY

Q9. If a partner retires in the middle of the year his/her share of profit from the date of last balance sheet till the date of retirement will be transferred to :

A: Profit & Loss A/C credit side

B: Profit & Loss suspense A/C debit side

C: Retiring partners capital A/C debit side

D: Profit & Loss suspense A/C credit side

Correct option: B

Solution: Following is the journal entry

JOURNAL ENTRY

Q10. If debentures are converted into equity shares, it is a/an :

A: Inflow of cash

B: No flow of cash

C: Outflow of cash

D: Cash and Cash equivalents

Correct option: B

Solution: If debentures are converted into equity shares, it shows no flow of cash, hence it will not be shown in the cash flow statement.

Q11. Match List I with List II in context of not having partnership deed.

Choose the correct answer from the options given below:

A: A - IV, B - I, C - III, D - II

B: A - III, B - IV, C - II, D - I

C: A - IV, B - III, C - II, D - I

D: A - III, B - II, C - IV, D - I

Correct option: D

Solution: Following is the correct match- A-III, B-II, C-IV, D-I

Q12. What is the correct sequence of allotment of shares

A. Allotment money received

B. Inviting applications from investors

C. Allotment Due

D. Application money Received

E. Share Call Money Due

Choose the correct answer from the options given below :

A: E, C, A, B, D

B: A, B, C, D, E

C: B, D, C, A, E

D: C, A, E, D, B

Correct option: C

Solution: Following is the correct sequence of allotment of shares-

B: Inviting applications from investors

D. Application money received

C: Allotment due

A: Allotment money received

E: Share call money due

Q13. What is the correct sequence of types of capital in company's Balance sheet while preparing notes to accounts.

A. Issued Capital

B. Subscribed and fully paid up capital

C. Share forfeited Balance

D. Authorised Capital

E. Subscribed but not fully paid up capital

Correct option: B

Solution: Following is the correct sequence of types of capital in company’s Balance Sheet while preparing notes to accounts-

D: Authorised Capital

A: Issued Capital

B: Subscribed and fully paid up capital

E: Subscribed but not fully paid up capital

C: Share forfeited balance

Q14. Identify the correct sequence to find out profit after tax while preparing comparative income statement

A. Deduct expenses

B. Find out total revenue by adding other incomes to revenue from operations

C. Find out profit after tax

D. Deduct tax

E. Calculate profit before tax

Correct option: B

Solution: Following is the correct sequence to find out profit after tax while preparing comparative income statement-

B: Find out total revenue by adding other incomes to revenue from options

A: Deduct expenses

E: Calculate profit before tax

D: Deduct tax

C: Find out profit after tax

Explanation:

STATEMENT OF PROFIT & LOSS

For the year ending …

Q15. If net profit made during the year are ₹ 50,000 and the bills receivables have decreased by ₹ 10,000 during the year then the cash flow from operating activities will be:

A: ₹ 40000

B: ₹ 60000

C: ₹ 30000

D: ₹ 20000

Correct option: B

Solution: Net profit made during the year = ₹ 50,000

(+) Decrease in Bills Receivable = ₹ 10,000

Cash flow from operating activities = ₹ 60,000

Q16. The capital accounts of partners will always show a _____ balance under fixed capital account method

A: Debit

B: Credit

C: Zero

D: Negative

Correct option: B

Solution: Under fixed capital account method, all transactions other than the introduction of additional capital and withdrawal of capital are recorded in Partner’s Current Account that’s why Partner’s Capital Account will always show a credit balance.

Q17. 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

A: Realisation A/C

B: Mohan's capital A/C

C: Bank A/C

D: Aman's capital A/C

Correct option: B

Solution: Following is the journal entry

JOURNAL ENTRY

Also Read,

• CUET Previous Year Question Papers
• CUET Accountancy Syllabus

Q18. Common size analysis is also known as

A: Horizontal Analysis

B: Vertical Analysis

C: Cash Flow Analysis

D: Ratio Analysis

Correct option: B

Solution: Using a common base amount as the % for each line item on a financial statement, common size analysis is a useful financial tool. It is also known as vertical analysis.

Q19. Calculate the amount of yearly interest payable on 9% debentures (10,000 debentures of ₹ 100) issued as collateral security.

A: No Interest payable

B: ₹ 90,000

C: ₹ 9000

D: ₹ 99000

Correct option: A

Solution: When debentures are issued as collateral security, interest will not be paid as the lender does now own such debentures.

Q20. If the net profit earned during the year is ₹ 1,00,000 and the amount of Bills receivables in the beginning and the end of the year is ₹ 20,000 and ₹ 40,000 respectively, then cash flow from operating activities will be:

A: ₹60,000

B: ₹ 1,00,000

C: ₹80,000

D: ₹ 1,20,000

Correct option: C

Solution: Net profit earned during the year = ₹ 1,00,000

(-) Increase in Bills Receivables (40,000 – 20,000) = (₹ 20,000)

Cash flow from operating activities = ₹ 80,000

CUET UG Exam Pattern

Importance of PYQs

• PYQs help students get familiar with the exam pattern, types of questions, their distribution, and the weightage of each topic. They can identify important topics and prepare their study plan accordingly.

• By attempting PYQs, students can evaluate their preparation level and work on areas that need improvement.

• PYQs can also help improve their time management skills. By solving PYQs, students can get an idea of where to spend more time and which topics need the least time.

• PYQs can also help students boost their confidence. Consistently getting a good score in PYQs can help students stay calm on the actual exam day.

• PYQs can be helpful for practicing exam techniques such as elimination method, making educated guesses, etc.

Chapter-wise MCQs for CUET UG

Chapter-wise MCQs for Accountancy

The aspirants can practice selected chapter wise questions from each topic of the CUET Accountancy syllabus from Accounting not-for-profit organisations to ratios.

Chapter-wise MCQs for English

The candidates can practice selected chapter wise questions from each topic of the CUET English syllabus from noun to poetic devices.

Chapter-wise MCQs for General Test

The aspirants can practice selected chapter wise questions from each topic of the CUET General Test syllabus from Indian History to other topics of General Awareness.

Chapter-wise MCQs for Economics

The students can practice selected chapter wise questions from each topic of the CUET Economics syllabus from LPG economic reforms to Forex.

Chapter-wise MCQs for Business Studies

The candidates can practice selected chapter wise questions from each topic of the CUET Business Studies syllabus from the nature and significance of management to entrepreneurship development .