CUET (UG) 2027 Sample Paper (Accountancy)

SAMPLE PAPER

S A M P L E Q U E S T I O N P A P E R

CUET (UG) 2027 (Accountancy)
Modelled on the actual exam pattern
.

QUESTIONS MAX MARKS TIME MARKING

50 250 60 Min +5 / −1

GENERAL INSTRUCTIONS

1. This paper contains 50 multiple-choice questions. All questions are compulsory.

2. Each question has four options — (A), (B), (C) and (D) — of which only one is correct.

3. Each correct answer carries 5 marks; 1 mark is deducted for each wrong answer.

4. Total time allowed is 60 minutes. Manage your time across all sections.

5. Use of calculators, mobile phones or any electronic device is not permitted.

6. Attempt the paper first, then check your answers against the Answer Key at the end.

Candidate Name: Roll No.: Date:

SAMPLE PAPER

CUET (UG) 2027 (Accountancy)
SAMPLE QUESTION PAPER

Questions 50 Max Marks 250 Time 60 Min Marking +5 / −1

Attempt all questions. Choose the one correct option for each.

ACCOUNTANCY

1. 2.

When debentures are issued at premium with the term of At the time of eon of partner if goodwill exist in the
redeeming them at par. The amount of premium received books of account it will Written off among:
at the time of issue will be:
(A)
(A)
Old partners in sacrificing ratio
Debited to premium on Redemption of Debenture A/C
(B)
(B)
All the partners in new ratio
Credited to Premium on Redemption of Debentures A/C
(C)
(C)
New partners in gaining ratio
Debited to Securities Premium Reserve A/C
(D)
(D)
Old partners in old profit sharing ratio
Credited to securities premium Reserve A/C

3. 4.

Case study: Aman and Mohan, partners of a firm decided to dissolve
the business on 31-03-22. Question: The firm decided to
A and B were partners in a partnership firm. Due to the ill
pay realisation expenses of Rs 1,000 on behalf of Mohan.
health of B they decided. to dissolve the firm. The
Rs1000 will be debited to
position of Assets and Liabilities on the date of
dissolution was:
(A)

Realisation A/C

(B)

Mohan’s capital A/C

(C)

Bank A/C
It was agreed that following transactions will take place
: (D)

A. A wanted to start the business in sole proprietorship Aman’s capital A/C

So he took Building and Furniture at 10% less than book
value.

B. All the debtors proved good except a person C who did
not pay Rs 10,000.

The amount recovered from the debtors is:

(A)

1,00,000

(B)

40,000

(C)

50,000

(D)

60,000

5.

Instructions: Read the passage carefully and answer the following question:

XYZ Ltd is registered with an authorised capital of Rs 20 lakh divided into 2 lakh equity shares of Rs 10 each.

The company is in manufacturing of pickles and spices. Due to the increase in demand of packed food in the market
they decided to diversify its operation. For this purpose they decided to issue 1 lakh equity share of 10 each. The
company issued 20,000 equity shares to a vendor to supply the machinery required to manufacture the packed food.
Rest of the equity shares were issued to general public for subscription. The application were received for 46.000
equity shares. Due to undersubscription of equity shares the shares were not issued to public.

The following refer to the maximum amount of share capitals issued by a company in its life times except:

(A)

Subscribed Capital

(B)

Authorised Capital

(C)

Nominal Capital

(D)

Registered Capital

6.

Case study:

A and B were partners in a partnership firm. Due to the ill health of B they decided to dissolve the firm. The position of
Assests and Liability on the date of to dissolve the firm. The position of Assets and Liability on the date of dissolution
was :

It was agreed that following transactions will take place :

A. A wanted to start the business in sole proprietorship So he took Building and Furniture at 10% less than book value.

B. All the debtors proved good except a person C who did not pay Rs 10,000.

The treatment of Goodwill appearing in the balance sheet will be

(A)

Transferred to Debit of Realisation A/C

(B)

Written off among partners in old ratio

(C)

Transferred to credit of Realisation A/C

(D)

Raised and written off

7. 8.

At the time of admission of a new partner general What are the different types of liquidity ratios
reserve appearing in the old Question: balance sheet is
A, Interest coverage ratio
transferred to.....

B. Current ratio
(A)
C. Inventory turnover ratio

D. Gross profit ratio

All Partner’s Capital A/C E. Acid test ratio

(B) Choose the correct answer from the options given below:

(A)
New Partner's Capital A/C

A&B only
(C)

(B)
Old Partner’s Capital A/C
B&E only

(D)
(C)

Gaining Partner's Capital A/C B& D only

(D)

D & E only

9.

At the time of admission of a new partner general
reserve appearing in the old Question: 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

10.

Instructions: Read the passage carefully and answer the following question:

XYZ Ltd is registered with an authorised capital of Rs 20 lakh divided into 2 lakh equity shares of Rs 10 each.

The company is in manufacturing of pickles and spices. Due to the increase in Passage: demand of packed food in the
market they decided to diversify its operation. For this purpose they decided to issue 1 lakh equity share of 10 each.
The company issued 20,000 equity shares to a vendor to supply the machinery required to manufacture the packed
food. Rest of the equity shares were issued to general public for subscription. The application were received for
46.000 equity shares. Due to undersubscription of equity shares the shares were not issued to public.

If the company is unable to get minimum subscription the shared cannot be issued and amount must be refunded
within 8 days from the date of closure. If not, company shall be liable to pay .... % interest p.a.

(A)

10%

(B)

15%

(C)

6%

(D)

5%

11. 12.

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

(A)

Debit

(B)
Choose the correct answer from the options given below:
Credit
(A)
(C)
A-IV.B-I,C-II, D-III
Zero
(B)
(D)
A-II.B-IV.C-I,D-II
Negative
(C)

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

(D)

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

13.

Instructions: Read the passage carefully and answer the following question:

XYZ Ltd is registered with an authorised capital of Rs 20 lakh divided into 2 lakh equity shares of Rs 10 each. The
company is in manufacturing of pickles and spices. Due to the increase in demand of packed food in the market they
decided to diversify its operation. For this purpose they decided to issue 1 lakh equity share of Rs 10 each. The
company issued 20,000 equity shares to a vendor to supply the machinery required to manufacture the packed food.
Rest of the equity shares were issued to general public for subscription. The application were received for 46.000
equity shares. Due to undersubscription of equity shares the shares were not issued to public.

The process of issuing shares to a vendor in exchange of any asset is known as:

(A)

Issue of share for cash

(B)

Issue of share at discount

(C)

Issue of share at premium

(D)

Issue of share for consideration other than cash

14. 15.

What are different types of debentures from the view Securities premium Reserve can be utilised __
point of registration
A. to return excess money received on application
A.Convertible
B. to write off preliminary expenses
B.Bearer
C. to issue partly paid bonus shares
C.Redeemable
D. for premium paid on Redemption of Debentures or
D.secured preference shares

E. Registered E. for buy back of shares

Choose the correct answer from the options given below: Choose the correct answer from the options given below:

(A) (A)

A&E only A.B, C only

(B) (B)

B &C only B.C, E only

(C) (C)

B& E only C.D, E only

(D) (D)

C&D only B,D, E only

16.

Instructions: Read the passage carefully and answer the following question:

XYZ Ltd is registered with an authorised capital of Rs 20 lakh divided into Rs 2 lakh equity shares of Rs10 each.

The company is in manufacturing of pickles and spices. Due to the increase in demand of packed food in the market
they decided to diversify its operation. For this purpose they decided to issue 1 lakh equity share of 10 each. The
company issued 20,000 equity shares to a vendor to supply the machinery required to manufacture the packed food.
Rest of the equity shares were issued to general public for subscription. The application were received for 46.000
equity shares. Due to undersubscription of equity shares the shares were not issued to public.

In order to raise money by issuing the shares in the market the company must get applications for at least .

(A)

1,00,000 shares

(B)

80,000 shares

(C)

72,000 shares

(D)

20,000 shares

17. 18.

The term ‘ field” as applied to database table means While preparing common-size Balance sheet, each item of
Balance sheet is expressed as % of
(A)
(A)
Name of the table
Non-current assets
(B)
(B)
Horizontal row of the table
Current assets
(C)
(C)
Size of the table
Non-current liabilities
(D)
(D)
Vertical column of the table
Total assets or total liability

19. 20.

If net profit made during the year are Rs 50,000 and the Identify the steps in preparation of final accounts of not
bills receivables have decreased by Rs 10.000 during the for profit organisation (NPO)
year then the cash flow from operating activities will be:
A. Prepare Balance Sheet of NPO

(A) B. Prepare Income and Expenditure Account from
Receipts and payment estion: Account
Rs 40000

C. Prepare Receipts and payment Account
(B)
D. Adjust outstanding/prepaid expenditure/Income and
Rs 60000
determine surplus! Deficit

(C) E. Prepare cash book

Rs 30000 Choose the correct answer from the options given below:

(D)
(A)

Rs 20000
E, C,B, D,A.

(B)

D,E.A, B.D

(C)

A.B C,D.E

(D)

E, C, A, B,D

21.

It is the amount-paid to the person who is not the regular
employee of the institution.

(A)

Wages

(B)

Honorarium

(C)

Salary

(D)

Donation

22.

Case Study :

A and B were partners in a partnership firm. Due to the ill health of B they decided to dissolve the firm. The position of
Assets and Liabilities on the date of dissolution was:

Balance Sheet

It was agreed that following transactions will take place :

A. A wanted to start the business in sole propristorship So he took Building and Furniture at 10% less than book value.

B. All the debtors proved good except a person C who did not pay Rs 10,000.

Due to the ill health of B, they decided to dissolve the firm. It comes under form of dissolution.

(A)

Dissolution by Notice

(B)

On the happening of certain contingencies

(C)

Dissolution by court

(D)

Dissolution by Agreement

23. 24.

Rani, Sandhya and Kangana are partners sharing profits As per Receipts and Payments Account for the year
in the ratio of 4:3:2 Rani retires. Sandhya and Kangana ended on March 31. 2020. subscriptions received were Rs
decided to share profits in future in the ratio of 5:3. 2,50,000 subscriptions outstanding on 1-04-2019 , Rs
Gaining ratio of Sandhya and Kangana will be 50,000, Subscriptions received in advance as on 31-3-
2020 are Rs 30.000. Subscriptions for the year 2019-20
(A) will be:

11:21
(A)

(B) Rs 2,30,000

21:11
(B)

(C) Rs 1,50,000

31:12
(C)

(D) Rs 2,40,000

23:13
(D)

Rs 1,70,000

25.

Case study:

A and B were partners in a partnership firm. Due to the ill health of B they decided to dissolve the firm. The position of
Assets and Liabilities on the date of dissolution was:

It was agreed that following transactions will take place :

A. A wanted to start the business in sole proprietorship So he took Building and Furniture at 10% less than book value.

B. All the debtors proved good except a person C who did not pay Rs 10,000.

The accumulated profits and reserve are transferred to:

(A)

Revaluation A/C

(B)

Realisation A/C

(C)

Partner's Capital A/C

(D)

Cash/Bank A/C

26. 27.

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
Choose the correct answer from the options given below:

(B)
(A)
Profit & Loss suspense A/C debit side
A-I, B-III.C-II,.D-IV

(C)
(B)
Retiring partners capital A/C debit side
A-IV,.B-III,C-II, D-I

(D)
(C)
Profit & Loss suspense A/C credit side
A-II,B-I,C-IV, D-III

(D)

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

28. 29.

When the total amount withdrawn is given but the date Identify the correct sequence of current assets in
of withdrawal is not given hen interest on drawings is company’s Balance sheet?
charged for a period of:
A. Bills Receivables

(A) B. Cash & cash equivalents

3 months C. Short term loans & advances

(B) D. Inventories

6 months E. Current investments

(C) Choose the correct answer from the options given below:

9 months (A)

(D) C,A,B,E, D

12 months (B)

D,C,E,A,B

(C)

B,D,E,C,A

(D)

E,D,A,B,C

30. 31.

If the net profit earned during the year is Rs 1,00,000 and
the amount of Bills Question: receivables in the
beginning and the end of the year is Rs 20.000 and Rs
40,000 respectively, then cash flow from operating
activities will be:

(A)
Choose the correct answer from the options given below:

60.000
(A)

(B)
A-IV,B-I,C-III. D-II

1,00,000
(B)

(C)
A-III.B-IV.C-II,D-I

80,000
(C)

(D)
A-IV.B-III,C-II,D-I

1,20.000
(D)

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

32.

Romi Ltd. purchased building worth Rs 1,50,000
machinery worth Rs 1,40,000 and furniture worth %
10,000 from xyz co. and took over its liabilities of Rs
20.000 for a Question: purchase consideration of Rs
3,15,000. They paid the purchase consideration by
issuing 12% debentures of Rs 100 each at a premium of
5%. What will be the number of debentures issued by
Romi Ltd.

(A)

4000

(B)

3500

(C)

3000

(D)

2000

33.

Read the passage carefully and answer the following question:

XYZ Ltd is registered with an authorised capital of rs 20 lakh divided into 2 lakh equity shares of Rs 10 each.

The company is in manufacturing of pickles and spices. Due to the increase in Passage: demand of packed food in the
market they decided to diversify its operation. For Be: this purpose they decided to issue 1 lakh equity share of 10
each. The company issued 20,000 equity shares to a vendor to supply the machinery required to manufacture the
packed food. Rest of the equity shares were issued to general public for subscription. The application were received
for 46.000 equity shares. Due to undersubscription of equity shares the shares were not issued to public.

The company issued 20,000 equity shares of Rs 10 each to vendor. After issuing them the shares the vendor will be
considered as:

(A)

Creditors

(B)

Owners

(C)

Customer

(D)

Lender

34. 35.

Sale of copy rights are considered as a part of Identify the correct sequence to find out profit after tax
while preparing comparative income statement
(A)
A. Deduct expenses
Investing Activities
B. Find out total revenue by adding other incomes to

(B) revenue from operations

Financing Activities C. Find out profit after tax

D. Deduct tax
(C)

E. Calculate profit before tax
Operating Activities

Choose the correct answer from the options given below:
(D)

Financing & Operating Activities (A)

E, B, A,.D, C

(B)

B,A,E, D, C

(C)

B,E,A,C,D

(D)

E, C,B,A,D

36. 37.

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:

Choose the correct answer from the options given below :
(A)

(A) A-II,B-I,C-IV.D-III

E,C,A, B,D
(B)

(B) A-II,B-III,C-I.D-IV

A.B C,D.E
(C)

(C) A-IIB-I.C-III,D-IV

B,D, C,A,E
(D)

(D) A-III.B-II,C-IV.D-I

C,A,E,D.B

38. 39.

‘What is the correct sequence of types of capital in If debentures are converted into equity shares. it is a/an
company’s Balance sheet while preparing notes to :
accounts.
(A)
A. Issued Capital
Inflow of cash
B. Subscribed and fully paid up capital

(B)
C. Share forfeited Balance

No flow of cash
D. Authorised Capital

E. Subscribed but not fully paid up capital (C)

Choose the correct answer from the options given below: Outflow of cash

(D)
(A)

Cash and Cash equivalents
C,B,D,E,A

(B)

D.A.B.E.C

(C)

A,B,C, D,E

(D)

B,A, D, E, C

40. 41.

At the time of retirement of a Partner the remaining What are the internal controls designed to do ?
gaining partners should compensate the
(A)
(A)
Only ensure accurate accounting records
Remaining Partners only
(B)
(B)
Safeguard assets and optimize use of resource
Retiring Partners only
(C)
(C)
Only safeguard assets
Retiring Partners as well as remaining partners who have
sacrificed (D)

Only achieve maximum revenue
(D)

Sacrificing partners only

42. 43.

Common size analysis is also known as Calculate the amount of yearly interest payable on 9%
debentures (10,000 Question: debentures of Rs 100)
(A) issued as collateral security.

Horizontal Analysis
(A)

(B) No Interest payable

Vertical Analysis
(B)

(C) Rs 90,000

Cash Flow Analysis
(C)

(D) Rs 9000

Ratio Analysis
(D)

Rs 99000

44. 45.

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

(A)

His/her share of Goodwill

(B)
Choose the correct answer from the options given below:
Good will of the firm

(A)
(C)

A-IV.B-I.C-II, D-III
Share of Good will of Remaining Partners

(B)
(D)

A-III,B-I,C-II,D-IV
His/her share of Goodwill and share of Goodwill of Remaining
Partners
(C)

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

(D)

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

46. 47.

Identify the limitations of financial statements : How many blank worksheets are shown when a new
workbook is created.
A. Can be biased

B. Report on stewardship function (A)

C. Aggregate information Four

D. Only interim reports (B)

E. Basis of fiscal policies Three

Choose the correct answer from the options given below: (C)

(A) Two

A.C. B only (D)

(B) One

A, C.D only

(C)

E.A, D only

(D)

B, A, C only

48. 49.

Journal entry to be passed for unrecorded assets for Which of the following arguments in a financial function
preparing Revaluation A/C at the time of Retirement of a represents the total number of payments
partner will be
(A)
(A)
FV
Assets A/C Dr. To all Partners capital A/C
(B)
(B)
PV
Assets A/C Dr. To Revaluation A/c
(C)
(C)
NPer
Revaluation A/C Dr. To assets A/C
(D)
(D)
Rate
Revaluation A/C Dr. To old partner’s capital A/C

50.

Identify the components of equity:

A. Money received against share warrants

B. Working capital Question:

C. Share capital

D. Reserves & surplus

E. Cash Revenue from operations

Choose the correct answer from the options given below:

(A)

A.C &Eonly

(B)

B.C & Donly

(C)

A.B&C only

(D)

A.C &Donly

ANSWER KEY

1. (D) 2. (D) 3. (B) 4. (B) 5. (A) 6. (A) 7. (C)

8. (B) 9. (C) 10. (B) 11. (B) 12. (B) 13. (D) 14. (D)

15. (D) 16. (C) 17. (D) 18. (D) 19. (B) 20. (A) 21. (B)

22. (D) 23. (B) 24. (D) 25. (C) 26. (B) 27. (C) 28. (B)

29. (D) 30. (D) 31. (C) 32. (C) 33. (B) 34. (A) 35. (B)

36. (C) 37. (B) 38. (B) 39. (B) 40. (C) 41. (B) 42. (B)

43. (A) 44. (B) 45. (A) 46. (B) 47. (B) 48. (B) 49. (C)

50. (D)