CUET accountancy free mock test 2023 online

Attempt the below CUET accountancy free mock test to test yourself and level of preparation before the actual exam . Alot of applicants looks for CUET accountancy domain subject mock test to examine there preparation before the actual exam . The below CUET accountancy mock test will help you to understand the type of questions and difficulty level of questions that can be asked in your exam .

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 CUET accountancy mock test is according to syllabus of CUET (UG) accountancy . CUET (UG) is a common universities entrance test for admission in various central universities undergraduate (UG) and Post graduate courses . The CUET exam is consist of three section in which one section is test of domain subjects consist of 50 questions out of which you need to answer 40 questions in 45 min , n similar pattern we have prepared the the below accountancy mock test whose answer key is provided at the end .

CUET (UG) Accountancy mock test for free :

  1. Donation can be
    (a) general donation
    (b) specific donation
    (c) Both (a) and (b)
    (d) None of these
  2. Receipt and payment account generally shows
    (a) a debit balance
    (b) a credit balance
    (c) surplus and deficit
    (d) capital fund
  3. Debit balance in receipts and payments account was shown as 80,000, subscription received amounted to 9,600 out of which 3,000 is related to next year. According to you, what amount will be shown in receipts and payments account? (a) 80,000 (b) 89,600 (c) 9,600 (d) ` 86,600
  4. Where a partner is entitled to interest on capital contributed by him, such interest will be payable
    (a) only out of profits
    (b) only out of capital
    (c) Both (a) and (b)
    (d) None of these
  5. A, B and C are partners sharing profits equally. A drew regularly 4,000 in the beginning of every month for the six months ended 30th September, 2021. Calculate interest on A’s drawings @ 5% p.a. ? (a) 200 (b) 1,200 (c) 350 (d) ` 700
  6. Pick the odd one out
    (a) Rent to Partner
    (b) Manager’s Commission
    (c) Interest on Partner’s Loan
    (d) Interest on Partner’s Capital
  1. Which of the following is/are method(s) of valuation of goodwill?
    (a) Average profit method
    (b) Super profit method
    (c) Capitalisation method
    (d) All of these
  2. Which of the following is not true in relation to goodwill?
    (a) It is an intangible asset
    (b) It is fictitious asset
    (c) It has a realisable value
    (d) None of the above
  1. The profits earned by a business over the last 5 years are 12,000; 13,000; 14,000;18,000; and
    2,000 (loss). Based on 2 years purchase of the last 5 years profits, value of goodwill will be

    (a) 23,600 (b) 22,000 (c) 1,10,000 (d) ` 1,18,000
  1. A, B and C are partners sharing profits and losses in the ratio of 5 : 4 : 1. If, C acquires 1 5/ th share from A, then calculate sacrificing ratio
    (a) A sacrifice 1 5/ (b) B sacrifice 1 5/
    (c) C sacrifice 1 5/ (d) None of these
  2. Sacrificing ratio is calculated as
    (a) New Ratio – Old Ratio
    (b) Old Rato – New Ratio
    (c) Old Ratio – Gaining Ratio
    (d) Gaining Ratio – Old Ratio
  3. A and B are partners in a firm sharing profit and losses 2 : 3. With effect from 1st April, 2022, they decided to share profits and loss equally. What will be B’s gain/sacrifice?
    (a) Gain 1/5 (b) Sacrifice 1/5
    (c) Gain 1/10
    (d) Sacrifice 1/10
  1. Which amongst the following adjustment(s) is/are required at the time of admission of a new partner?
    (a) Computation of new profit sharing ratio and sacrificing ratio
    (b) Adjustment for goodwill
    (c) Revaluation of assets
    (d) All of these
  1. Asha and Nisha are partners’ sharing profit in the ratio of 2 : 1. Asha’s son Ashish was admitted for 1/4 share of which 1/8 was gifted by Asha to her son. The remaining was contribited by Nisha. Goodwill of the firm is valued at 40,000. How much of the goodwill be credited to the old partners’ capital account?
    (a) 2,500 each (b) 5,000 each (c) 20,000 each (d) None of these
  1. …… goodwill is the excess of desired total capital of firm over the actual combined capital of all partners.
    (a) Premium (b) Share
    (c) Hidden (d) Old
  2. ……… account is prepared when partners decide to give effect to revaluation of assets and liabilities without affecting their book value.
    (a) Revaluation
    (b) Memorandum revaluation
    (c) Memorandum suspense
    (d) None of the above
  1. In case of retirement of a partner, profit or loss on revaluation of assets and re-assessment of liabilities is distributed among ……… in ……… profit sharing ratio.
    (a) all the partners, old
    (b) all the partners, new
    (c) other than retiring partner, old
    (d) other than retiring partner, new
  1. At the time of retirement of Mahesh, value of stock is given 60,000 in the balance sheet of the firm. Pass a journal entry when found stock is undervalued by 15,000.
    (a) Revaluation A/c Dr 15,000
    To Stock A/c 15,000
    (b) Stock A/c Dr 15,000
    To Revaluation A/c 15,000
    (c) Stock A/c Dr 45,000
    To Revaluation A/c 45,000
    (d) Revaluation A/c Dr 45,000
    To Stock A/c 45,000
  2. After transferring liabilities like creditors and bills payables in the realisation account, in the absence of any information regarding the payment, such liabilities are treated as
    (a) never paid (b) fully paid
    (c) partly paid (d) None of these
  3. In the event of dissolution of a firm, the partners’ personal assets are first applied for payment of …… .
    (a) the personal liabilities
    (b) the firm’s liabilities
    (c) Both (a) and (b)
    (d) preferential tax liabilities
  1. On firm’s dissolution, a partner A took over 50% of the stock at a discount of 20% (book value of stock was 5,00,000). What will be the value of taken over stock?
    (a) 2,50,000 (b) 1,00,000 (c) 2,00,000 (d) ` 5,00,000
  1. The balance of share forfeiture account can be used to
    (a) provide for discount given at the time of reissue
    (b) write-off preliminary expenses
    (c) write-off bad debts
    (d) None of the above
  1. Amox Ltd. is registered with a capital of 10,00,000 equity shares of 10 each. 6,00,000 equity shares were offered for subscription to public. Applications were received for 6,00,000 shares. All calls were made and amount was duly received except final call of 2 on 80,000 shares. What will be the amount of share capital shown in the balance sheet?
    (a) 60,00,000 (b) 58,40,000
    (c) 5,84,000 (d) 6,00,000
  1. Shares for consideration other than cash can be issued at
    (a) par
    (b) premium
    (c) discount
    (d) Both (a) and (b)
  1. Arihant Ltd. issued 8,000, 12% debentures of 100 each at par on 1st April, 2020 which are redeemable at 5% premium in five equal instalments. First redemption to be made on 31st March, 2021. The company complied with legal requirements. Calculate amount which is required to be legally invested?
    (a) 1,20,000 (b) 24,000 (c) 60,000 (d) ` 96,000
  1. If debentures are issued at premium,then they can be redeemed at
    (a) par
    (b) premium
    (c) Both (a) and (b)
    (d) can’t be redeemed
  2. Firewall agreed to pay purchase consideration of 1,30,000 by issuing fully paid-up debentures of 100 at ` 120. How many debentures will be issued?
    (a) 1,083
    (b) 1,084
    (c) Can’t be determined
    (d) None of these
  3. Staff welfare expenses are included in
    (a) cost of material consumed
    (b) revenue from operation
    (c) employees benefit expense
    (d) None of the above
  1. From following information, calculate other incomes. Sales of product = 54,000; Sale of services = 60,000; Commission received = 1,20,000; Excise duty paid = 3,00,000; Dividend from investment = 20,000
    (a) 1,40,000 (b) 2,54,000 (c) (46,000) loss (d) None of these
  1. Securities premium reserve is shown on the liabilities side in the balance sheet under the head
    (a) reserves and surplus
    (b) general reserve
    (c) share capital
    (d) current liabilities
  2. Revenue from operations on 31st March, 2021 was 15,00,000 and on 31st March, 2020 was 12,00,000, then what will be the percentage change in revenue from operations?
    (a) 50% (b) 62% (c) 45% (d) 25%
  3. Which of the following is not an objective of comparative statement analysis?
    (a) To compare with other firms and industrial data
    (b) To judge the financial instability
    (c) To help in forecasting and planning
    (d) Understand complex data in simplified manner
  4. If net revenue from operations is 1,20,000, cost of revenue from operations is 40,000 and operating expenses are ` 20,000, what will be the percentage of operating income on net revenue from operations?
    (a) 45% (b) 55%
    (c) 50% (d) 65%
  5. Normally absolute ratio is further refinement of liquid or quick ratio. Which of the following is considered fairly satisfactory?
    (a) 1 1: (b) 05 1 . :
    (c) 1 5 1 . : (d) 1 15: .
  6. The …… measures the activity of a firm’s inventory.
    (a) average collection period
    (b) invenotry turnover
    (c) liquid ratio
    (d) current ratio
  7. What is the inventory turnover ratio, when the following is given? COGS = 1,50,000; Closing Inventory = 60,000; Excess of Closing Inventory over Opening Inventory ` 20,000.
    (a) 3 times (b) 2.14 times
    (c) 1.5 times (d) 4 times
  1. ABC Ltd. is a financial company which provides loan and invest into shares. At the year end, company received ` 50,000 interest on loan. Where will be the amount of interest presented?
    (a) Activity arising from interest will be shown in investing activity
    (b) Activity arising from interest will be shown in financing activity
    (c) Activity arising from interest will be shown in operating activity
    (d) None of the above
  2. For a company manufacturing garments, procurement of raw material , incurrence of manufacturing expenses , sale of garments are classified as ……… activity.
    (a) financing (b) investing
    (c) operating (d) None of these
  3. Mention the net amount of source or use of cash when a fixed asset (having book value 1,20,000) is sold at a loss of 40,000 in term of cash flow.
    (a) 1,20,000 (b) 40,000
    (c) 80,000 (d) 1,60,000
  4. ……………. means modifying the readymade software to suit the specific requirements of the user
    (a) Operating system
    (b) Customised software
    (c) Ready to use
    (d) Tailored
  1. Part of computer system which interact with the computer through the use of hardware or software is called…………….. .
    (a) language processor
    (b) applications software
    (c) procedure
    (d) humanware
  2. Identify the requirement(s) of every computerised accounting system.
    (a) Accounting framework
    (b) Operating procedure
    (c) Both (a) and (b)
    (d) None of these
  3. Which of the following is an accounting software?
    (a) Tally
    (b) Microsoft Office
    (c) Photoshop
    (d) Notepad
  4. How many predefined vouchers does tally has?
    (a) 21 (b) 22
    (c) 23 (d) 24
  5. The ………. of the previous year becomes the ………… of the current year
    (a) closing balance, opening balance
    (b) opening balance, closing balance
    (c) Either (a) or (b)
    (d) Neither (a) nor (b)
  1. ………… is the group of data which is interlinked and set of programs which helps in accessing the data.
    (a) ABMS (b) CBMS
    (c) DBMS (d) EBMS
  2. ………… is a window which consist of various fields and spaces to fill the data.
    (a) Query
    (b) Table
    (c) SQL
    (d) Form
  3. For a complete view of data which is stored across various tables, the user is required to
    (a) execute queries based on SQL
    (b) search for data tables in DBMS
    (c) Either (a) or (b)
    (d) Neither (a) nor (b)
  4. What happens when there is a change in source data of an electronic spreadsheet?
    (a) The results needs to be recalculated manually
    (b) It can recalculate the result automatically
    (c) Either (a) or (b)
    (d) Neither (a) nor (b)
  5. In which method the amount of depreciation remains fixed over the life of the asset?
    (a) Written down value method
    (b) Straight line method
    (c) Either (a) or (b)
    (d) Neither (a) nor (b)

CUET Accountancy mock test answer key :

1. (c) 2. (a) 3. (b) 4. (a) 5. (c) 6. (d) 7. (d) 8. (b) 9. (b) 10. (a) 11. (b) 12. (d) 13. (d) 14. (c) 15. (c) 16. (b) 17. (a) 18. (b) 19. (b) 20. (a) 21. (c) 22. (a) 23. (b) 24. (d) 25. (b) 26. (c) 27. (a) 28. (c) 29. (a) 30. (a) 31. (d) 32. (b) 33. (c) 34. (b) 35. (b) 36. (a) 37. (c) 38. (c) 39. (c) 40. (b) 41. (d) 42. (c) 43. (a) 44. (c) 45. (a) 46. (c) 47. (d) 48. (a) 49. (b) 50. (b)

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