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

Tapti’s share of profit will be:

Hema and Tara were partners in a firm sharing profits and losses in the ratio of \( 2 : 3 \). They admitted Ojas as a new partner. Hema surrendered \( \frac{1}{3} \) of her share and Tara surrendered \( \frac{1}{2} \) of her share in favour of Ojas. The new profit-sharing ratio of Hema, Tara, and Ojas will be:

Aaroh, Bhuvan, and Charu were partners in a firm sharing profits and losses in the ratio of \( 1 : 2 : 6 \). Charu died. Aaroh and Bhuvan acquired Charu’s share in the ratio of \( 2 : 1 \). The new profit-sharing ratio between Aaroh and Bhuvan after Charu’s death will be:

Lata, Mehu, and Namita were partners in a firm sharing profits and losses in the ratio of \( 3 : 2 : 1 \). They decided to dissolve the firm on 31st March, 2023. Creditors took over stock of book value of ₹ 80,000 at 80\%, in part settlement of their amount of ₹ 90,000. The balance amount was paid to the creditors by cheque. The amount paid by cheque to the creditors will be:

Sanya, Sarthak, and Nitya were partners in a firm sharing profits and losses in the ratio of \( 4 : 3 : 1 \). They decided to dissolve the firm on 31\textsuperscript{st March, 2023. On this date, the firm had debtors amounting to ₹ 3,00,000 and provision for doubtful debts of ₹ 30,000. On dissolution, debtors for ₹ 20,000 proved bad and the remaining debtors realised 90\%. Amount realised from the debtors will be:}

Hema and Tara were partners in a firm sharing profits and losses in the ratio of \( 2 : 3 \). They admitted Ojas as a new partner. Hema surrendered \( \frac{1}{3} \) of her share and Tara surrendered \( \frac{1}{2} \) of her share in favour of Ojas. The new profit-sharing ratio of Hema, Tara, and Ojas will be:

Alfa Ltd. offered for public subscription 50,000 equity shares of ₹ 10 each at ₹ 110 per share. The entire amount was payable on application. Applications were received for 48,000 shares and allotment was made to all the applicants. The amount received on application will be:

Lexa Ltd. issued 50,000 equity shares of ₹ 10 each at a premium of ₹ 2 per share. The amount was payable as follows: On application and allotment – ₹ 7 per share (including premium). On first and final call – Balance. The issue was fully subscribed. All the money was duly received except the first and final call on 1,000 equity shares. These shares were forfeited. On forfeiture of these shares, Calls in Arrears Account will be:

The debentures which do not carry a specific rate of interest are called:

NUK Ltd. forfeited 1,000 shares of ₹ 10 each, fully called up for non-payment of final call of ₹ 2 per share. 800 of these shares were reissued at ₹ 11 per share fully paid. The amount credited to Capital Reserve Account will be:

Sheena’s interest on drawings will be:

Assertion (A): When the shares are forfeited, share capital account is debited with the amount called up and credited to (i) respective unpaid calls account i.e., calls in arrears and (ii) share forfeiture account with the amount already received on shares. Reason (R): When the shares are forfeited, all entries relating to the shares forfeited, except those relating to securities premium, already recorded in accounting records must be reversed. Choose the correct option from the following:

Minimum subscription for allotment of shares as per Securities and Exchange Board of India (SEBI) guidelines cannot be less than 90\% of which of the following capital?

From the following information, calculate ‘Cash Flows From Operating Activities’:
\[ \begin{array}{|l|r|} \hline \textbf{Particulars} & \textbf{Amount (\rupee)} \\ \hline Surplus i.e., Balance in Statement of Profit and Loss & 628,000 \\ \hline Provision for Tax & 150,000 \\ \hline Proposed Dividend for the Previous Year & 72,000 \\ \hline Depreciation & 140,000 \\ \hline Loss on Sale of Machinery & 30,000 \\ \hline Gain on Sale of Investments & 20,000 \\ \hline Dividend Received on Investments & 60,000 \\ \hline Increase in Current Liabilities & 161,000 \\ \hline Increase in Current Assets (Other than Cash) & 600,000 \\ \hline Decrease in Current Liabilities & 64,000 \\ \hline Income Tax Paid & 118,000 \\ \hline \end{array} \]

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

From the following, identify the type of code used by a trading company:
\[ \begin{array}{|l|l|} \hline \textbf{Codes} & \textbf{Dealer Type} \\ \hline 100 – 199 & \text{Cycle tyres} \\ \hline 200 – 299 & \text{Cycle seats} \\ \hline \end{array} \]

Rushil and Abheer were partners in a firm sharing profits and losses in the ratio of 4 : 3. They admitted Sunil as a new partner for \( \frac{3}{7} \) share in the profits of the firm, which he acquired \( \frac{2}{7} \) share from Rushil and \( \frac{1}{7} \) share from Abheer. The new profit-sharing ratio of Rushil, Abheer, and Sunil will be:

Aavya, Mitansh, and Praveen were partners in a firm. On 31^st March, 2023, the firm was dissolved. Creditors took over furniture of book value of ₹50,000 at ₹45,000 in part settlement of their amount of ₹60,000. The balance amount was paid to them through cheque. The amount paid through cheque will be: