List of top Questions asked in CBSE CLASS XII

On the disSolution of a partnership firm there were debtors of \rupee 34,000. Debtors of \rupee 1,000 became bad and 60\% was realized from the remaining debtors. Which account will be debited and by how much amount on the realisation from debtors?
Arnav Ltd. purchased assets worth \rupee 24,00,000. It issued 9\% debentures of \rupee 100 each at a discount of 4\% for payment of the purchase consideration. The number of debentures issued to the vendor were:
Interest on capital will be provided to Aditi and Saurabh in which of the following ratio?
Assertion (A): Under the fixed capital method, partners' capital accounts always show a credit balance.
Reason (R): Under the fixed capital method, all items like share of profit or loss, interest on capital, drawings, interest on drawings are recorded in a separate account called partners' current account.
Choose the correct alternative from the following:
Vanya and Aanya were partners in a firm sharing profit and losses in the ratio of 3:2. Their capitals were \rupee 5,00,000 and \rupee 1,00,000 respectively. Vanya was entitled to interest on capital @ 8\% p.a. and Aanya was entitled to salary @ \rupee 5,000 per month. The net profit before any appropriation was \rupee 1,75,000. Vanya's share in divisible profit will be:
Omkar and Shiva were partners in a firm. Omkar was entitled to a salary of \rupee 20,000 p.a. while Shiva was entitled to a salary of \rupee 50,000 p.a. Net profit for the year ended 31st March, 2023, after charging the salaries of Omkar and Shiva, was \rupee 5,60,000. The total amount credited to Omkar’s capital account will be:
Aditya, Vishesh, and Nimesh were partners in a firm sharing profits and losses equally. Aditya died on 1st July 2023. The remaining partners decided to continue the business of the firm and decided to share future profits in the ratio of 4:3. The gaining ratio of Vishesh and Nimesh will be:
Gupta and Sharma are partners in a firm sharing profit in the ratio of 4:1. They admitted Preeti as a new partner for 1/4th share in the profits, which she acquired wholly from Gupta. New profit sharing ratio of Gupta, Sharma and Preeti will be:
Interest on Aditi's capital will be:
M Ltd. forfeited 5,000 equity shares of \rupee 10 each issued at a premium of 10\% for non-payment of final call of \rupee 2 per share. The minimum amount at which these shares can be reissued as fully paid up will be:
As per the provisions of Companies Act, 2013 Securities Premium cannot be utilized for:
Which one of the following items is not dealt through Profit and Loss Appropriation Account?
At the time of admission of a partner, the Balance Sheet of the firm showed a workmen compensation reserve of \rupee 80,000. The claim for workmen compensation was estimated at \rupee 1,00,000. The shortfall of \rupee 20,000 will be:
Assertion (A): Interest on bearer debentures is paid to a person who produces the interest coupon attached to such debentures.
Reason (R): Bearer debentures are transferred by way of delivery and the company does not keep any record of these debenture holders.
Choose the correct option from the following:
Vishnu and Mishu are partners in a firm. Mishu draws a fixed amount at the end of every quarter. Interest on drawings is charged @ \(15\% \ \text{p.a.}\). At the end of the year, interest on Mishu's drawings amounted to \rupee 9,000. Interest on drawings was charged on drawings of Mishu for:
Vishant Ltd. invited applications for issuing 6,000 equity shares of \rupee 10 each at 10\% premium. The issue was fully subscribed. The amount per share was payable as follows: On application - \rupee 3, on allotment - \rupee 3 (including premium), on first call - \rupee 3 and on final call - \rupee 2. Ashish, the holder of 200 shares, paid the entire money along with allotment. The total amount received on allotment was:
Riya, Rita and Renu were partners in a firm. On 31st March, 2023 Renu retired. The amount payable to Renu \rupee 2,17,000 was transferred to her loan account. Renu agreed to receive interest on this amount as per the provisions of Partnership Act, 1932. The rate at which interest would be paid to Renu is:
Ravi, Vani and Toni were equal partners in a firm. After the retirement of Vani, the capital balances of Ravi and Toni were \rupee 1,56,000 and \rupee 1,08,000 respectively. The new capital of the firm was determined at \rupee 2,80,000. It was decided that the capital will be in proportion of the profit sharing ratio of the remaining partners. Toni will bring ..... for deficiency in his new capital.
If vendors are issued fully paid shares of \rupee 1,25,000 in purchase consideration of net assets of \rupee 1,50,000, the balance of \rupee 25,000 will be credited to:
State why do you need to change a chart? How can it be changed? Why is it said that changing a column chart to a pie chart is easy? Give reasons.
State the advantages of a computerized accounting system.
Using the worksheet below, find out the error and its reason for the given ‘VLOOKUP’ syntax: % Table for worksheet \[ \begin{array}{|c|c|c|c|c|} S. No. & Product & Q1 Sales (\( \text{\rupee} \)) & Q2 Sales (\( \text{\rupee} \)) & Total Half Yearly Sales (\( \text{\rupee} \))
1 & A & 10000 & 15000 & 25000
2 & B & 40000 & 35000 & 75000
3 & C & 25000 & 30000 & 55000
4 & D & 30000 & 50000 & 80000
5 & E & 45000 & 34000 & 79000
6 & F & 12000 & 30000 & 42000
7 & G & 38000 & 56000 & 94000
\end{array} \] % VLOOKUP Syntax (i) = VLOOKUP(B1, B2 : E8, 2, 0)
(ii) = SQRT(VLOOKUP(B5, B8 : E8, 2, 0) - 100000)
(iii) = VLOOKUP(A2, A2 : A8, 2, 0)
(iv) = VLOOKUP(B2, B3 : E4, 5, 0)
(v) = VLOOKUP(B2, A2 : E8, 0, 0)
(vi) = VLOOKUP(B2, B2 : E8, 2, 0)/0
Which of the following type of software suffers from the limitation of low secrecy level and software being prone to data frauds?
Explain ‘Sequential Codes’ and ‘Block Codes’ with examples.
How to use ‘Mark Common Formula Error’ in Excel? Explain.