List of top Accountancy Questions asked in UP Board XII

Explain the method of calculation of goodwill on the basis of average profit.
What do you understand by forfeiture of shares?
Explain the difference between Income and Expenditure Account and Cash Account.
On the basis of the following Trial Balance and other information of Mahesh School for the year ended on 31st December, 2022, prepare Income and Expenditure Account and Balance Sheet:

Additional Information:

Outstanding fees of this year Rs. 25,000.
Outstanding salaries Rs. 30,000.
Furniture purchased of Rs. 40,000 on 1st October, 2021.
Furniture of book value Rs. 50,000 was sold on 1st April 2021.
Depreciation on furniture @ 10% per year, 15% per year on library books, 5% per year on building.
Describe the significance of analysis of financial statements.
State differences between divisible profit and dividend.
Describe the items shown in Profit and Loss Appropriation Account.
Discuss the types of preference shares.
Distinguish between P & L Account and P & L Appropriation Account.
Explain Partnership Deed.
Explain any one method of calculation of interest on drawings.
State four items of liabilities shown in the balance sheet of a company.
The maximum number of members of a private company is
Explain the objectives of Income and Expenditure Account.
State the differences between partnership and company.
What is meant by Cash Flow Statement?
Reduction in liability is
Loan taken for specific purpose will be shown in
Which of the following is not a current liability?
Partnership Account was enforced in
Shareholders of a company are
Features of a company are
Revaluation Account is
Receipts and Payments Account is
Income and Expenditure Account is prepared by