CUET UG 2025 — Accountancy Partnership
Which of the following is correct?
The important provision affecting partnership accounting, in the absence of a partnership deed is:
Held on 15 May 2025 · Verified 13 Jul 2026.
Profit Sharing Ratio: If the partnership deed is silent about the profit sharing ratio, the profits and losses of the firm are to be shared by partners in their capital ratio.
Interest on Capital: Partner is entitled to claim higher interest on the amount of capital contributed by him in the firm as a matter of right.
Interest on Drawings: No interest is to be charged on the drawings made by the partners, if there is no mention in the Deed.
Interest on Loan: If any partner has advanced loan to the firm for the purpose of business, he/she shall be entitled to get an interest on the loan amount at the rate of 16 per cent per annum.
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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.