Download AppGovt. JobsFree G.K. & Current AffairsScholarshipBlog
Free PracticeContact
📚 Exam by Category
▾
Objective Questions

Latest CUET UG Accountancy Exam Question (Objective Questions), MCQ in English

Subjects : Accountancy

Question Bank CUET UG Accountancy Exam - English
Back to Exam

Accountancy

Question 1Single Answer
A partnership is an association of persons who agree to share the profits of a business carried on by:
  1. A
    All partners only
  2. B
    Any one partner only
  3. C
    Government authorities
  4. D
    All or any of them acting for all
Question 2Single Answer
The written agreement among partners is called:
  1. A
    Memorandum
  2. B
    Balance sheet
  3. C
    Prospectus
  4. D
    Partnership deed
Question 3Single Answer
A partnership deed contains:
  1. A
    Terms and conditions of partnership
  2. B
    Only names of partners
  3. C
    Only capital balances
  4. D
    Only profit figures
Question 4Single Answer
The main purpose of a partnership deed is to:
  1. A
    Avoid future disputes among partners
  2. B
    Increase sales
  3. C
    Reduce capital
  4. D
    Calculate depreciation
Question 5Single Answer
A partnership deed may specify:
  1. A
    All of these
  2. B
    Interest on capital
  3. C
    Partner’s salary
  4. D
    Profit-sharing ratio
Question 6Single Answer
In the absence of an agreement, profits and losses are generally shared:
  1. A
    In capital ratio
  2. B
    Equally
  3. C
    In sales ratio
  4. D
    According to age
Question 7Single Answer
Which document provides evidence of agreed terms among partners?
  1. A
    Partnership deed
  2. B
    Cash book
  3. C
    Journal
  4. D
    Ledger
Question 8Single Answer
Which of the following is normally included in a partnership deed?
  1. A
    Name of the firm
  2. B
    All of these
  3. C
    Capital contribution
  4. D
    Nature of business
Question 9Single Answer
A partnership deed helps in determining:
  1. A
    Debenture interest
  2. B
    Market price of shares
  3. C
    Dividend on shares
  4. D
    Rights and duties of partners
Question 10Single Answer
The ratio in which partners agree to share profits is known as:
  1. A
    Capital ratio
  2. B
    Debt-equity ratio
  3. C
    Current ratio
  4. D
    Profit-sharing ratio
Question 11Single Answer
Which of the following may be provided in a partnership deed?
  1. A
    All of these
  2. B
    Interest on capital
  3. C
    Commission to partners
  4. D
    Interest on drawings
Question 12Single Answer
The partnership deed is important because it:
  1. A
    Clarifies mutual rights
  2. B
    Clarifies obligations
  3. C
    Reduces misunderstandings
  4. D
    All of these
Question 13Single Answer
If the deed is silent about the profit-sharing ratio, partners share profits:
  1. A
    According to drawings
  2. B
    According to capital
  3. C
    Equally
  4. D
    According to salary
Question 14Single Answer
A partnership deed generally specifies the:
  1. A
    All of these
  2. B
    Capital of each partner
  3. C
    Profit-sharing ratio
  4. D
    Duration of partnership
Question 15Single Answer
Which of the following is NOT usually a clause of a partnership deed?
  1. A
    Interest on capital
  2. B
    Rate of depreciation on a partner’s personal car
  3. C
    Salary to partners
  4. D
    Profit-sharing ratio
Question 16Single Answer
Partnership accounts are mainly prepared to ascertain:
  1. A
    Only assets
  2. B
    Only cash sales
  3. C
    Only purchases
  4. D
    Profit and division among partners
Question 17Single Answer
Capital accounts of partners may be maintained under:
  1. A
    Fixed method only
  2. B
    Fluctuating method only
  3. C
    Cash method only
  4. D
    Fixed or fluctuating method
Question 18Single Answer
Under the fixed capital method, capital accounts generally remain:
  1. A
    Constant
  2. B
    Zero
  3. C
    Negative
  4. D
    Doubled every year
Question 19Single Answer
Under the fluctuating capital method, capital balance changes due to:
  1. A
    Profit share
  2. B
    Drawings
  3. C
    Interest on capital
  4. D
    All of these
Question 20Single Answer
Under the fixed capital method, routine adjustments are recorded in:
  1. A
    Trading account
  2. B
    Capital accounts only
  3. C
    Realisation account
  4. D
    Current accounts
Question 21Single Answer
Under the fluctuating capital method, normally each partner has:
  1. A
    One capital account
  2. B
    Two capital accounts
  3. C
    No capital account
  4. D
    Three current accounts
Question 22Single Answer
Which account is generally not prepared separately under the fluctuating capital method?
  1. A
    Profit and Loss Account
  2. B
    Cash account
  3. C
    Current account
  4. D
    Trading Account
Question 23Single Answer
Under the fixed capital method, additional permanent capital introduced is credited to:
  1. A
    Current account
  2. B
    Capital account
  3. C
    Drawings account
  4. D
    P&L Appropriation Account
Question 24Single Answer
Under the fixed capital method, drawings are usually debited to:
  1. A
    Partner’s current account
  2. B
    Partner’s capital account
  3. C
    Sales account
  4. D
    Purchases account
Question 25Single Answer
Under fluctuating capital, drawings are debited to:
  1. A
    Current account only
  2. B
    Capital account
  3. C
    Trading account
  4. D
    Revaluation account
Question 26Single Answer
Interest on capital under the fixed capital method is credited to:
  1. A
    Capital account
  2. B
    Current account
  3. C
    Cash account
  4. D
    Sales account
Question 27Single Answer
Interest on capital under fluctuating capital method is credited to:
  1. A
    Purchases account
  2. B
    Current account
  3. C
    Capital account
  4. D
    Drawings account
Question 28Single Answer
Partner’s share of profit under fixed capital method is credited to:
  1. A
    Current account
  2. B
    Capital account
  3. C
    Drawings account
  4. D
    Cash account
Question 29Single Answer
Partner’s share of profit under fluctuating capital method is credited to:
  1. A
    Capital account
  2. B
    Current account
  3. C
    Trading account
  4. D
    Bank account
Question 30Single Answer
A debit balance of a partner’s current account represents:
  1. A
    Amount due to partner
  2. B
    Firm’s asset purchased
  3. C
    Amount due from partner
  4. D
    Goodwill
Question 31Single Answer
A credit balance in a partner’s current account means:
  1. A
    Partner owes the firm
  2. B
    No amount is due
  3. C
    Firm owes the partner
  4. D
    Capital has been withdrawn permanently
Question 32Single Answer
Fixed capital accounts normally show:
  1. A
    Nil balance
  2. B
    Debit balances only
  3. C
    Credit balances
  4. D
    Revenue balance
Question 33Single Answer
Which item changes a fluctuating capital account?
  1. A
    All of these
  2. B
    Interest on drawings
  3. C
    Share of profit
  4. D
    Drawings
Question 34Single Answer
Under fixed capital method, the capital account changes mainly when:
  1. A
    Additional capital is introduced or withdrawn permanently
  2. B
    Profit is earned
  3. C
    Drawings are made
  4. D
    Interest on capital is credited
Question 35Single Answer
Which method requires maintaining a separate current account?
  1. A
    Single-entry method
  2. B
    Fluctuating capital method
  3. C
    Fixed capital method
  4. D
    Cash method
Question 36Single Answer
In fluctuating capital method, a partner’s capital may:
  1. A
    Never change
  2. B
    Change every year
  3. C
    Always remain equal to cash
  4. D
    Remain zero
Question 37Single Answer
The opening balance of capital plus profit share less drawings results in:
  1. A
    Cost of goods sold
  2. B
    Gross profit
  3. C
    Sales
  4. D
    Closing capital, subject to other adjustments
Question 38Single Answer
A partner’s salary is normally credited to the partner’s:
  1. A
    Purchases account
  2. B
    Trading account
  3. C
    Sales account
  4. D
    Current/capital account as applicable
Question 39Single Answer
Under fixed capital method, interest on drawings is debited to:
  1. A
    Cash account
  2. B
    Capital account
  3. C
    Current account
  4. D
    Sales account
Question 40Single Answer
Under fluctuating capital method, interest on drawings is debited to:
  1. A
    Capital account
  2. B
    Current account
  3. C
    Profit and Loss Account
  4. D
    Trading Account
Question 41Single Answer
Net profit available for appropriation is transferred to:
  1. A
    Cash Account
  2. B
    Trading Account
  3. C
    Profit and Loss Appropriation Account
  4. D
    Revaluation Account
Question 42Single Answer
Profit and Loss Appropriation Account is prepared to show:
  1. A
    Cash receipts only
  2. B
    Purchase of goods
  3. C
    Sale of fixed assets
  4. D
    Distribution of profit among partners
Question 43Single Answer
P&L Appropriation Account is an extension of:
  1. A
    Balance Sheet
  2. B
    Trading Account
  3. C
    Cash Account
  4. D
    Profit and Loss Account
Question 44Single Answer
Interest on capital is shown on the:
  1. A
    Credit side of P&L Appropriation Account
  2. B
    Debit side of P&L Appropriation Account
  3. C
    Credit side of Trading Account
  4. D
    Asset side of Balance Sheet
Question 45Single Answer
Interest on drawings is shown on the:
  1. A
    Debit side of P&L Appropriation Account
  2. B
    Credit side of P&L Appropriation Account
  3. C
    Debit side of Trading Account
  4. D
    Asset side of Balance Sheet
Question 46Single Answer
Partner’s salary is generally treated as:
  1. A
    Asset
  2. B
    Operating expense payable to outsiders
  3. C
    Appropriation of profit
  4. D
    Liability to bank
Question 47Single Answer
Partner’s commission is usually treated as:
  1. A
    Purchase expense
  2. B
    Appropriation of profit
  3. C
    Selling expense to outsider
  4. D
    Fixed asset
Question 48Single Answer
The balance of P&L Appropriation Account is divided among partners in:
  1. A
    Profit-sharing ratio
  2. B
    Capital ratio always
  3. C
    Drawing ratio
  4. D
    Salary ratio
Question 49Single Answer
Interest on drawings increases:
  1. A
    Fixed assets
  2. B
    Purchases
  3. C
    Profit available for appropriation
  4. D
    Drawings themselves only
Question 50Single Answer
Interest on capital reduces the amount of profit finally divisible in:
  1. A
    Profit-sharing ratio
  2. B
    Current ratio
  3. C
    Debt ratio
  4. D
    Sales ratio
Important Questions Package

CUET UG Accountancy Exam Online Question Bank Package

Buy CUET UG Accountancy Important Questions, MCQ, question answer in Hindi & English. It will help you to score high marks in CUET UG Accountancy question bank 2026 in Online, PDF & Print study material.

+ Free Monthly Current Affairs, GK & more PDF Download
Sr.Package NameAmount
1.CUET UG Accountancy Exam - Hindi
Description : 1000 Question with Answer
₹101 [₹500]
2.CUET UG Accountancy Exam - Hindi
Description : 2000 Question with Answer
₹131 [₹500]
3.CUET UG Accountancy Exam - Hindi
Description : 2950 Question with Answer
₹151 [₹500]
4.CUET UG Accountancy Exam - English
Description : 1000 Question with Answer
₹101 [₹500]
5.CUET UG Accountancy Exam - English
Description : 2000 Question with Answer
₹131 [₹500]
6.CUET UG Accountancy Exam - English
Description : 3000 Question with Answer
₹151 [₹500]
7.CUET UG Accountancy Exam - Hindi
Description : 1000 Question & Answer Download in PDF (Send by Email)
₹151 [₹450]
8.CUET UG Accountancy Exam - English
Description : 1000 Question & Answer Download in PDF (Send by Email)
₹151 [₹450]
9.CUET UG Accountancy Exam Question Bank Book - Hindi
Description : 1000 Question with Answer (Printed Material)
₹450 [₹800]
10.CUET UG Accountancy Exam - English
Description : 1000 Question with Answer (Printed Material)
₹390 [₹600]
View More Questions
Back to Exam
Question for CUET Accountancy / Book Keeping (UG) 2027 - Quiz / Questions / MCQ - Toppersexam