CUET UG 2025 — Accountancy Partnership
Which among the following is NOT true about the Partnership?
Held on 30 May 2025 · Verified 13 Jul 2026.
Each partner is liable jointly with all the other partners and also severally to the third party for all the acts of the firm done while he is a partner.
Partnership is the result of an agreement between two or more persons to do business and share their profits and losses.
If persons join hands for the purpose of some charitable activity it can be termed as partnership.
The minimum number of partners in a firm can be two.
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As per AS-26 Intangible assets like goodwill should be written off.
Match List-I with List-II | List-I | List-II | |---|---| | Revaluation of assets and reassessment of liabilities at the time of admission of a new partner | Journal Entry | | (A) For increase in the value of an asset | (I) Revaluation A/c Dr. To Asset A/c | | (B) For reduction in the amount of a liability | (II) Revaluation A/c Dr. To Liability A/c | | (C) For reduction in the value of an asset | (III) Asset A/c Dr. To Revaluation A/c | | (D) For appreciation in the amount of a liability | (IV) Liability A/c Dr. To Revaluation A/c | Choose the correct answer from the options given below:
Amount of Assets realized debited to Bank Account will be:
Match List-I with List-II If the partnership deed is silent regarding the items provided in List-I | List-I | List-II | |---|---| | (A) Interest on Capital | (I) to be shared equally | | (B) Interest on Loan | (II) not charged | | (C) Interest on Drawings | (III) not payable | | (D) Sharing of Profits | (IV) @6% p.a. | Choose the correct answer from the options given below:
Match List-I with List-II | List-I | List-II | |---|---| | (A) Sacrificing ratio | (I) Dissolution of Partnership | | (B) Gaining Ratio | (II) Admission of a New Partner | | (C) Executors Account | (III) Retirement of a Partner | | (D) Realisation Account | (IV) Death of a Partner | Choose the correct answer from the options given below:
Work through every CUET UG Partnership PYQ, year by year.