CUET UG Accountancy Answer Key 2024 May 17 & Shift- 2B and Paper Analysis

NTA has started the CUET UG 2024 exam and NTA has successfully concluded the Accountancy exam CUET UG 2024 Day 3 Shift - 2B. CUET UG May 17 exams include Geography (313), Physical Education (321), Business Studies (305) and Accountancy (301). Candidates who are appearing for the exam should check the important exam day guidelines.

In this article, we will discuss CUET 17 May Shift – 2B Accountancy exam analysis to find out the exam review, paper analysis and student feedback on the difficulty level of the exam and good attempts in the exam. Additionally, students can also check the links given below to download CUET UG 2024 Accountancy Question Paper and CUET UG 2024 Accountancy Answer Key.

👉 CUET UG Accountancy Answer Key 2024 and Question Papers, Download PDF

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CUET UG 2024 Accountancy Exam Analysis

The overall difficulty level of CUET UG 2024 Accountancy exam was moderate. Some questions from previous year were repeated with language changes. Questions were asked from cash flow statement topics. Students reported that the questions were straightforward but the CUET 2024 Accountancy paper was lengthy.

CUET UG Accountancy Question Paper Analysis 2024: Difficulty level

National Testing Agency conducted the CUET UG Accountancy exam today in morning shift 1B. We provide CUET Accountancy question paper analysis based on the responses of students who have appeared in the CUET Accountancy 2024 examination. The table given below contains the section-wise difficulty level and important topics asked in CUET UG 2024 Accountancy question paper:

As per students feedback CUET 2024 Accountancy question paper was moderately easy and questions were also easy.

CUET UG Accountancy Answer Key 2024 (All Sets)

S. No.	Question	Answer
1	Match the Following	Share Capital Account - Debited with Amount Called Up Share Fortified Account - Credited with Amount received towards share capital Call-in-arrears Account - Credited with the amount not received Securities Premium Account - Debited with the amount not received
2	400 shares of Rs. 50 each issued at par were forfeited for non-payment of the final call of Rs. 10 shares. The shares were re-issued at Rs. 45 per share as fully paid up. The amount transferred to the capital reserve is?	14,000
3	When debentures are issued at a premium and redeemed at a premium, the journal entry will have the following combination	Loss on the issue of debentures account is debited Security premium account is credited Premium on redemption of debentures account is credited
4	Arrange the following in the correct sequence	Creation of DRR Payment of debenture-holders Redemption becomes due Issue of debentures
5	If a delay occurs beyond 8 days in refunding the subscription amount, failing to gather the minimum subscription, from the date of closure of the subscription list, the company shall be liable for the interest rate of	15%
6	A company can accept calls in advance if authorized by	Articles of Association
7	A, B and C are partners sharing profits in the ratio of 3:2:1. C died on 1st July 2023. On this date, final accounts were prepared to ascertain profits for the period. It resulted in a profit of Rs. 1,75,000 for the firm. To give effect to the above -	Profit and Loss account will be debited
8	On the date of admission of a partner, there was a balance of Rs. 45,000 in the account of machinery. It was found undervalued by 10%. The value of machinery that will appear in the new balance sheet at	50,000
9	Dividend received is	Investing Activity
10	A partnership can have a maximum of 50 partners. The limit has been set by the	Central Government
11	Which of the following is an example of sequential code?	Using code 100 - 199 for 'Dealers of Small Pumps'
12	If there is no claim against Workmen Compensation Reserve, it is ..... at the admission of partner	Credited to old partners' capital accounts
13	A, B and C are partners sharing profits in the ratio of 3:3:4. They decide to share the future profits equally. The sacrifice or gain of partners are	A gains 1/30; B gains 1/30; C scarifies 2/30
14	Match List I with List II	At the end of each half-year - 3 Months At the beginning of each quarter - 7.5 Months At the beginning of each month - 6.5 Months At the end of each quarter - 4.5 Months
15	Kavita and Lalita are partners, sharing profits in a ratio of 2:1. They decide to admit Mohan for 1/4th share	Rs. 4,000
16	Anshu and Nitu are partners, sharing profits in a ratio of 3:2. They admitted Jyoti as a new partner for 3/10 shares which she acquired 2/10 from Anshu and 1/10 from Nitu	4:3:3
17	The journal entry for treatment of goodwill, when a new partner brings his share of goodwill in cash and one of the old partners' gains, involves the following	Gaining partner's capital account is debited Premium for goodwill account is debited Sacrificing Partner's Capital Account is Credited
18	Identify the correct sequence of the following steps involved in calculating cash flows from the operating activities of a company	E, A, B, C, D
19	Arrange the following in the correct order	Authorized Capital Issued Capital Subscribed Capital Called-Up Capital Paid-Up Capital
20	The Deceased Partner's Capital Account includes the following amount/ balances	Opening Balance of his capital His Share/ Profit or Loss till the date of death His share of the general reserve
21	Calculate Trade Receivables Turnover Ratio	8.18 Times
22	Calculate the Average Collection Period	45 Days
23	Calculate Trade Payables Turnover Ratio	2.96 Times
24	Calculate the Average Payment Period	123 Days
25	The Trade Receivables Turnover Ratio and Trade Payables Turnover Ratio are categorized as	--
26	What is the mode of dissolution of the firm followed by G, K and B?	Dissolution of Agreement
27	Determine the amount of Profit and Loss account	Dr Rs. 90,000
28	Determine Gain/ Loss on Realization	Loss 2,40,000
29	The entry for realization expenses in the above case study will be	Realization A/c Dr. To Realization A/c
30	Existing Profit and Loss Account in the Books of the firm will be shared/ borne by partners in the ratio	5:3:2
31	Libraries run by Charitable trusts are an example of	Not-for-profit organisation
32	The main source of revenue for 'not-for-profit' organisations is	Subscription from Members
33	Match the following	Share Capital - Subscribed but not fully paid Reserves and surplus - Sinking Fund Reserve Capital - Will be called at the time of winding up Current liabilities - Calls in advance
34	Which of the following would affect the Revaluation Account at the time of reconstitution of a partnership firm	Increase in assets
35	Identify the correct sequence to be followed while preparing of final account of a partnership firm	Trading Account Profit and Loss Account Profit and Loss Appropriation Account Balance Sheet
36	Window dressing is a practice	to manipulate the accounts to show a better picture of the financial position than the actual one
37	Match List I with List II	Salary of Partner - Credit Sale of Partner's Current Account Interest on Partner's Loan - Debit Side of Profit and Loss Account Interest on Partner's Drawings - Debit of Partner's Current Account Additional Capital Introduced - Credit Side of Partner's Capital Account
38	Which of the following would affect the Revaluation Account at the time of admission of the partner?	Increase in assets Recording of unrecorded assets Decrease in liabilities
39	Match List I with List II	Purchase of Tangible Assets - Investing Activity Issue of Shares - Financing Activity Increase in Current Assets - Operating Activity Marketable Securities - Cash and cash Equivalents
40	Which of the following are correct in connection with the Common Size Statements	Expressed as a percentage of revenue from operation Vertical Analysis Expressed as a percentage of total assets
41	Calculate the resulting cash flow and state the nature of cash flow from the following information	Investing activity and outflow Rs. 3,50,000
42	Arrange the following in proper sequence while preparing the Cash Flow Statement	Reduction from the concerned year's profit Addition to next year's profit
43	Oversubscription is a situation where the	Number of shares applied for is less than the number of shares issued
44	Arrange the following in the correct sequence in the context of the debenture	Issue of dentures Creation of DRR Redemption becomes due Payment of debenture-holders
45	While preparing a cash flow statement, the purchase of goodwill is treated as	Investing activity
46	The components of a Computerized Accounting System are	Data, People, Procedure, Hardware, Software
47	The Sales and Accounts Receivable Subsystem deals with	the recording of Sales, maintaining of sales ledger and receivables
48	The common fields used in the relationship between tables are called	Key fields
49	On dissolution of a firm, bank overdraft is transferred to	Realisation Account
50	Arrange the following steps in a correct sequence of the life of a company	Promotion Incorporation Flotation Commencement of Business

CUET Answer Key 2024 for All Subjects - Download PDF

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CUET UG 2024: Overview

The Common University Entrance Test CUET (UG) 2024 will provide a common platform and level playing field to the candidates from across the country, especially from rural and other remote areas and will help in establishing better relations with the universities. A single application form will enable candidates to cover a wider reach and be a part of the admission process in various central and participating universities. The overview of CUET UG 2024 is given below:

CUET UG 2024: Overview
Name of the Exam	Common University Entrance Test (CUET)
Conducting Body	National Testing Agency (NTA)
Purpose of the Exam	For admission in UG courses in participating universities/institutes
Number of Participating Universities	Central Universities: 46 State Universities: 32 Deemed Universities: 20 Private Universities: 98 Government Institutions: 06
Official Website	exams.nta.ac.in