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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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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.
Please download the whole previous year's paper with the given link below -
A) Accounting for Not-for-Profit Organizations and Partnership Firms | B) Computerized Accounting System |
Unit I: Accounting for Not-for-Profit Organisation | Unit I: Overview of Computerized Accounting System |
Unit II: Accounting for Partnership | Unit II: Using Computerized Accounting System |
Unit III: Reconstitution of Partnership | Unit III: Accounting Using Database Management System (DBMS) |
Unit IV: Dissolution of Partnership Firm | Unit IV: Accounting Applications of Electronic Spreadsheet |
Unit V: Accounting for Share and Debenture Capital | |
Unit VI: Analysis of Financial Statements | |
Unit VII: Statement of Changes in Financial Position |
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
LIST I: Basis of Debenture | LIST II: Types of Debenture | ||
A. | Tenure | I. | Zero coupon rate |
B. | Interest rate point of view | II. | Irreedemable |
C. | Security | III. | Registration |
D. | Bearer | IV. | Secured |
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
List I: Basis of Debentures | List II: Types of Debentures | ||
A. | Tenure | II. | Irredeemable |
B. | Interest rate point of view | I. | Zero coupon rate |
C. | Security | IV. | Secured |
D. | Bearer | III. | Registration |
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
Date | Particulars | L.F. | Amount (₹) | Amount (₹) |
Gaining Partner’s Capital A/c Dr. |
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
Date | Particulars | L.F. | Amount (₹) | Amount (₹) |
Assets A/c Dr. |
Q6. 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. |
| ||
C. | Current Liabilities | III. | Non current investment | ||
D. | Shareholder's Funds | IV. | Inventories |
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
List I: Major Head | List II: Sub Head | ||
A. | Fixed Assets | III. | Non current investment |
B. | Current Assets | IV. | Inventories |
C. | Current Liabilities | I. | Short term provisions |
D. | Shareholder’s Funds | II. | Money received against share warrants |
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
List I | List II | ||
A. | Cash Equivalents | III. | Marketable securities |
B. | Financing Activities | I. | Interim Dividend paid |
C. | Operating Activities | II. | Selling & Distribution expenses paid |
D. | Investing Activities | IV. | Dividend received on Shares held as investment |
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
Date | Particulars | L.F. | Amount (₹) | Amount (₹) |
Gaining Partner’s Capital A/c Dr. |
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
Date | Particulars | L.F. | Amount (₹) | Amount (₹) |
Profit & Loss Suspense A/c Dr. |
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.
LIST I | LIST II | ||
A. | Interest on loan | I. | Equal |
B. | Interest on drawings | II. | Will not be charged |
C. | Salary | III. | @ 6% p.a. |
D. | Profit sharing ratio | IV. | Will not be allowed/provided |
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
List I | List II | ||
A. | Interest on loan | III. | @6% p.a. |
B. | Interest on drawings | II. | Will not be charged |
C. | Salary | IV. | Will not be allowed/provided |
D. | Profit sharing ratio | I. | Equal |
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 …
Particulars | Note No. | Amount (₹) |
Revenue from Operations Profit before tax (-) Tax | XXX XXX XXX (XXX) XXX (XXX) XXX |
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
Date | Particulars | L.F. | Amount (₹) | Amount (₹) |
Mohan’s Capital A/c Dr. | 1,000 | 1,000 |
Also Read,
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
Mode of Examination | Hybrid mode (Pen & Paper/Computer Based Test) |
Question Paper Format | Objective type Multiple Choice Questions (MCQs) |
Number of Sections | 4 Sections (Sections IA, IB, II, and III) |
Number of Questions | Section IA & IB- 40 (out of 50 questions to be attempted) Section II – 40 (out of 50 questions to be attempted) Section III – 50 (out of 60 questions to be attempted) |
Marking Scheme | +5 for each correct answer -1 for each incorrect answer |
Choice of Test Papers | Candidates can select up to 6 test papers, including 4 or 5 domain subjects, General Test, and 1 or 2 languages. |
Duration | Mathematics/Applied Mathematics, Accountancy, Physics, Chemistry, Economics, Computer Science/Informatics Practices, and General Test - 60 minutes Rest of the papers - 45 minutes |
Shifts and Duration | - Proposed three shifts per day for pen & paper mode, each lasting approximately two hours. |
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.
The aspirants can practice selected chapter wise questions from each topic of the CUET Accountancy syllabus from Accounting not-for-profit organisations to ratios.
The candidates can practice selected chapter wise questions from each topic of the CUET English syllabus from noun to poetic devices.
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.
The students can practice selected chapter wise questions from each topic of the CUET Economics syllabus from LPG economic reforms to Forex.
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 .
You must make notes while studying to revise them later. Make sure you cover all the important points from each chapter. Regular revision and practicing using sample papers and mock tests are crucial to achieving a good score.
You can expect questions from topics such as Accounting Not-for-Profit Organisation, Accounting for Partnership, Accounting for Share and Debenture Capital, and Overview of Computerized Accounting System.
Get an overview of all the questions in the section. Then, start with the questions you are sure about. After that, move to the questions that you find difficult and allocate sufficient time to them so that you can come up with an answer. Do not waste a lot of time on one question.
All the questions will be Multiple choice questions or MCQs in the CUET exam.
The tentative admission schedule for UG and Diploma Programmes of IGNTU, session 2024 is
1.Online Registration Start from 05-August-2024 to 25- August -2024
2.Declaration of the First Counselling List (Tentative) 28- August -2024
3.Date of Counselling and Document Verification in the respective Department (offline mode):
03 September 2024 – 04 September 2024
4.Declaration of the Selection list :7 September 2024
5.Deposition of the Admission fee by
the selected candidate :08 September 2024 to 11 September 2024
Hello aspirant,
Congratulations on scoring 308 in the CUET UG 2024 exam!
This is a good score and opens up several options for you in BA programs.
Explore different BA programs offered by various universities. Consider your interests and career goals to choose the right specialization. Each university has specific eligibility requirements, including minimum CUET scores. Ensure your score meets the criteria of your preferred colleges.
While your score is a crucial factor, other elements also influence your admission chances:
University Preferences: Different universities have varying admission criteria, including weightage given to CUET scores, board marks, and other factors.
Course Popularity: Highly sought-after programs often have higher cut-offs.
Reservations and Quotas: If you belong to a reserved category, it might influence your eligibility.
Additional Entrance Tests:
Some universities might conduct their own tests, which can impact your final selection.
Here are some tips that can help you to increase your chances:
Aim for Universities with Lower Cut-Offs:
Consider universities where your score aligns well with their previous year's cut-offs.
Apply to Multiple Universities: Increase your chances of admission by applying to several institutions.
Highlight Extracurricular Activities: A strong academic record combined with extracurricular achievements can enhance your profile.
Prepare for Interviews:
If required, practice your communication and interview skills.
For more information you can click on the college predictor link attached below.
https://university.careers360.com/cuet-college-predictor
Hello,
With a CUET UG 2024 score of 452, your chances of getting into top B.Tech programs in Computer Science Engineering (CSE), Information Technology (IT), or Artificial Intelligence and Machine Learning (AIML) will depend on the cut-offs for each college and the competition that year. While specific cut-offs can vary, here are some colleges that you could consider based on your score and preferences:
Delhi Technological University (DTU)
Netaji Subhas University of Technology (NSUT)
Jamia Millia Islamia (JMI)
Indraprastha Institute of Information Technology (IIIT Delhi)
Lovely Professional University (LPU)
Amity University
Galgotias University
SRM University
Sharda University
VIT Vellore (Vellore Institute of Technology)
Make sure to stay updated on the latest cut-offs and admission procedures for each university to maximize your chances of securing a spot in your desired program.
Hope it helps !
Hello Krish,
With a CUET score of 522 and belonging to the SC category, you have a good chance of securing admission to some reputed colleges for B.Com (Hons). Here are some suggestions for colleges that you might consider applying to:
Delhi University Colleges:
Sri Ram College of Commerce (SRCC)
One of the most prestigious colleges for commerce in India.
Hansraj College
Known for its excellent faculty and infrastructure.
Shaheed Bhagat Singh College
Offers good placement opportunities and has a strong commerce program.
Hindu College
Well-regarded for its academic environment and overall development.
Kirori Mal College
Offers good courses with ample extracurricular opportunities.
Other Universities and Colleges:
Christ University, Bangalore
Well-known for its commerce programs and vibrant campus life.
Loyola College, Chennai
Offers a strong commerce program with good faculty and resources.
St. Xaviers College, Kolkata
Renowned for its academic excellence and strong alumni network.
Narsee Monjee College of Commerce and Economics, Mumbai
Offers excellent commerce programs with good placement records.
Symbiosis College of Arts and Commerce, Pune
Known for its quality education and diverse campus environment.
Hello ayush hope you are doing well
BSc is a future oriented course which emphasis on research as well as teaching oriented degree It gives you a depth on that subject But it depends on your future what you want to do. Btech is industry based course and Bsc is a research based academic degree and NEET is a entry level of professional course If you have enough courage to take a drop and crack any entrance of Engineering or neet for good colleges then you can drop a year. But firstly make sure that your drop year should be worth enough in future.it totally depends on you how you are going to spend your coming year.
If you are not sure about any of these courses and want to take admission this year go for bachelor in science in private universities as they still open their admission process.
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