List of top Accountancy Questions asked in CBSE Class Twelve Board Exam

Abhay, Bikram, and Chris were partners in a firm sharing profits and losses equally. They decided to dissolve their partnership firm on 31^st March, 2023. The firm’s Balance Sheet on the date of dissolution was as follows: \[ \begin{array}{|c|c|c|c|} \hline \textbf{Liabilities} & \textbf{Amount (₹)} & \textbf{Assets} & \textbf{Amount (₹)} \\ \hline \text{Capital:} & & \text{Plant and Machinery} & 80,000 \\ \text{Abhay} & 68,000 & \text{Furniture} & 45,000 \\ \text{Bikram} & 1,00,000 & \text{Motor Car} & 1,25,000 \\ \text{Chris} & 77,000 & \text{Stock} & 30,000 \\ \text{Creditors} & 1,20,000 & \text{Debtors} & 70,000 \\ & & \text{Cash at Bank} & 15,000 \\ \hline \textbf{Total} & 3,65,000 & \textbf{Total} & 3,65,000 \\ \hline \end{array} \] Adjustments:

• Plant and Machinery was taken over by Abhay at an agreed valuation of ₹ 75,000.
• Furniture realised ₹ 40,000.
• Motor Car was taken over by Bikram for ₹ 1,30,000.
• Debtors realised 10% less than their book value.
• 10% of the stock was taken over by Chris for ₹ 4,500. The remaining stock was sold for ₹ 30,000.
• Realisation expenses amounted to ₹ 5,000.

............. indicate the speed at which activities of the business are being performed.

From the following information, calculate ‘Return on Investment (ROI)’: \[ \begin{array}{|l|l|} \hline \textbf{Particulars} & \textbf{₹} \\ \hline \text{Total Assets} & 22,00,000 \\ \text{10\% Debentures} & 5,00,000 \\ \text{Current Liabilities} & 2,00,000 \\ \text{Net Profit After Tax} & 7,20,000 \\ \text{Tax} & 1,80,000 \\ \hline \end{array} \]

From the following Balance Sheet of Hira Ltd. as at 31^st March, 2023, prepare Comparative Balance Sheet: \[ \begin{array}{|c|l|r|r|} \hline \textbf{Particulars} & \textbf{Note No.} & \textbf{31.3.2023 (₹)} & \textbf{31.3.2022 (₹)} \\ \hline \textbf{I – Equity and Liabilities:} & & & \\ 1. \text{Shareholders' Funds:} & & & \\ \hspace{0.5cm} (a) \text{Share Capital} & 1 & 15,00,000 & 12,00,000 \\ \hline 2. \text{Non-Current Liabilities:} & & & \\ \hspace{0.5cm} (a) \text{Long-term Borrowings} & 2 & 10,00,000 & 5,00,000 \\ \hline 3. \text{Current Liabilities:} & & & \\ \hspace{0.5cm} (a) \text{Trade Payables} & 3 & 1,00,000 & 3,00,000 \\ \hline \textbf{Total} & & 26,00,000 & 20,00,000 \\ \hline \textbf{II – Assets:} & & & \\ 1. \text{Non-Current Assets:} & & & \\ \hspace{0.5cm} (a) \text{Fixed Assets/Property, Plant, and Equipment} & 4 & 20,00,000 & 15,00,000 \\ \hline 2. \text{Current Assets:} & & & \\ \hspace{0.5cm} (a) \text{Inventories} & 5 & 1,50,000 & 1,00,000 \\ \hspace{0.5cm} (b) \text{Trade Receivables} & 6 & 4,50,000 & 4,00,000 \\ \hline \textbf{Total} & & 26,00,000 & 20,00,000 \\ \hline \end{array} \]

From the following information of NK Ltd., prepare a Common Size Statement of Profit and Loss for the years ended 31^st March, 2022 and 31^st March, 2023: \[ \begin{array}{|l|r|r|} \hline \text{Particulars} & \text{31.3.2023 (₹)} & \text{31.3.2022 (₹)} \\ \hline \text{Revenue from Operations} & 25,00,000 & 20,00,000 \\ \text{Cost of Materials Consumed} & 8,00,000 & 6,00,000 \\ \text{Employee Benefit Expenses} & 4,00,000 & 4,00,000 \\ \text{Income Tax Rate (\%)} & 20 & 30 \\ \hline \end{array} \]

Calculate ‘Cash Flows from Investing Activities’ from the following information: \[ \begin{array}{|l|c|c|} \hline \text{Particulars} & \text{31.3.2023 (₹)} & \text{31.3.2022 (₹)} \\ \hline \text{Plant and Machinery} & 4,10,000 & 3,00,000 \\ \text{Goodwill} & 1,80,000 & 80,000 \\ \hline \end{array} \] Additional Information:
- A machine costing ₹ 85,000 (depreciation provided thereon ₹ 15,000) was sold for ₹ 62,000.
- Depreciation charged during the year amounted to ₹ 48,000.

Calculate ‘Cash Flows from Financing Activities’ from the following information: \[ \begin{array}{|l|c|c|} \hline \text{Particulars} & \text{31.3.2023 (₹)} & \text{31.3.2022 (₹)} \\ \hline \text{Equity Share Capital} & 15,00,000 & 10,00,000 \\ \text{Bank Overdraft} & 90,000 & 1,20,000 \\ \text{Loan from Bank} & 7,00,000 & 6,00,000 \\ \hline \end{array} \] Additional Information:
- Interest paid on bank loan amounted to ₹ 60,000.
- Dividend paid ₹ 1,10,000.

State the parameters of Excel’s PMT function. What is the use of this function?

Explain ‘Password Security’ and ‘Data Audit’ as security features of a Computerised Accounting System.

What is Data Formatting? What tools are used to format a given data?

. Which Date and Time function returns the value of today’s date with time?

Explain ‘Transparency and Control’ and ‘Accuracy and Speed’ as features of a Computerised Accounting System.

What is the outcome of an arithmetic expression or function called?

Which of the following is not contained on the formula tab on Excel ribbon?

How is navigation conducted from the first to the last filled cells of clusters when moving one cell at a time in a row?

In a graph, the area bounded by different axes is known as:

Identify the type of software which is suited for large and medium organisations and can be linked to other information systems.

Classify the following items under major heads and sub-heads (if any) in the Balance Sheet of the company as per Schedule III, Part I of the Companies Act, 2013: (a) Mining Rights
(b) Loose Tools
(c) Income Received in Advance

‘Dividend paid by a finance company’ is classified under which of the following?

Statement I: ‘Issue of fully paid bonus shares out of Securities Premium Account’ will result in inflow of cash.
Statement II: ‘Cash withdrawn from bank’ will result in inflow of cash.

Which of the following transactions will result in cash flows from operating activities?

Which of the following tools of ‘Analysis of Financial Statements’ indicate the trend and direction of financial position and operating results?

Pass necessary journal entries for forfeiture and reissue of shares in the following cases: Neon Ltd. forfeited 2,000 shares of ₹ 10 each issued at a premium of ₹ 2 per share for non-payment of allotment money of ₹ 5 per share (including premium). The first and final call of ₹ 2 per share was not yet made. Out of these, 1,500 shares were reissued at ₹ 7 per share, ₹ 8 paid up. Mamta Ltd. forfeited 3,000 shares of ₹ 10 each on which the first call of ₹ 3 per share was not received. The second and final call of ₹ 1 per share was not yet called. Out of these, 2,000 shares were reissued at ₹ 9 per share, ₹ 9 paid up.

Sai Ltd. invited applications for issuing 60,000 shares of ₹ 10 each. The amount was payable as follows: On application – ₹ 5 per share On allotment – ₹ 1 per share On first and final call – Balance Applications were received for 58,000 shares. Rajat, the holder of 300 shares, did not pay allotment money, and Usha, the holder of 500 shares, paid her entire share money along with allotment money. Rajat’s shares were forfeited immediately after allotment. First and final call was made afterward and duly received. Pass necessary journal entries for the above transactions. Open ‘Calls-in-arrears’ and ‘Calls-in-advance’ Account, wherever required.

The Debt-Equity Ratio of a company is 3 : 2. Which of the following transactions will result in an increase in this ratio?