SAMPLE QUESTION PAPER
SUBJECT- ACCOUNTANCY (055)
CLASS XII (2023-24)
TIME 3 HOURS MAX. MARKS 80
GENERAL INSTRUCTIONS:
1. This question paper contains 34 questions. All questions are compulsory.
2. This question paper is divided into two parts, Part A and B.
3. Part - A is compulsory for all the candidates.
4. Part - B has two options i.e. (i) Analysis of Financial Statements and
(ii) Computerised Accounting.
Students must attempt only one of the given options as per the subject opted.
5. Question Nos.1 to 16 and 27 to 30 carries 1 mark each.
6. Questions Nos. 17 to 20, 31and 32 carries 3 marks each.
7. Questions Nos. from 21 ,22 and 33 carries 4 marks each
8. Questions Nos. from 23 to 26 and 34 carries 6 marks each
9. There is no overall choice. However, an internal choice has been provided in 7 questions
of one mark, 2 questions of three marks, 1 question of four marks and 2 questions of
six marks.
Q. PART A Marks
N0.
(Accounting for Partnership Firms and Companies)
1 A& B are partners sharing profits and losses in the ratio of 3:2. C is admitted for ¼ and for which 1
₹30,000 and ₹10,000 are credited as a premium for goodwill to A and B respectively. The new profit-
sharing ratio of A:B:C will be:
a) 3:2:1
b) 12:8:5
c) 9:6:5
d) 33:27:20
2 Assertion: Batman, a partner in a firm with four partners has advanced a loan of ₹50,000 to the firm for 1
last six months of the financial year without any agreement. He claims an interest on loan of
₹3,000 despite the firm being in loss for the year.
Reasoning: In the absence of any agreement / provision in the partnership deed, provisions of Indian
Partnership Act, 1932 would apply.
a) Both A and R are correct, and R is the correct explanation of A.
b) Both A and R are correct, but R is not the correct explanation of A.
c) A is correct but R is incorrect.
d) A is incorrect but R is correct.
3 If 10,000 shares of ₹10 each were forfeited for non-payment of final call money of ₹3 per share and 1
only 7,000 of these shares were re-issued @₹ 11 per share as fully paid up, then what is the minimum
amount that company must collect at the time of re-issue of the remaining 3,000 shares?
a) ₹ 21,000
b) ₹ 9,000
c) ₹ 16,000
d) ₹ 30,000
OR
On 1st April 2022, Galaxy ltd. had a balance of ₹8,00,000 in Securities Premium account. During the
year company issued 20,000 Equity shares of ₹10 each as bonus shares and used the balance amount to
, write off Loss on issue of Debenture on account of issue of 2,00,000, 9% Debentures of ₹100 each at a
discount of 10% redeemable @ 5% Premium. The amount to be charged to Statement of P&L for the
year for Loss on issue of Debentures would be:
a) ₹30,00,000.
b) ₹22,00,000.
c) ₹24,00,000.
d) ₹20,00,000.
4 A, B and C who were sharing profits and losses in the ratio of 4:3:2 decided to share the future profits 1
and losses in the ratio to 2:3:4 with effect from 1st April 2023. An extract of their Balance Sheet as at
31st March 2023 is:
Liabilities Amount(₹) Assets Amount(₹)
Workmen Compensation 65,000
Reserve
At the time of reconstitution, a certain amount of Claim on workmen compensation was determined for
which B’s share of loss amounted to₹5,000. The Claim for workmen compensation would be:
a) ₹15,000
b) ₹70,000
c) ₹50,000
d) ₹80,000
OR
A, B and C are in partnership business. A used ₹2,00,000 belonging to the firm without the information
to other partners and made a profit of ₹35,000 by using this amount. Which decision should be taken
by the firm to rectify this situation?
a) A need to return only ₹2,00,000 to the firm.
b) A is required to return ₹35,000 to the firm.
c) A is required to pay back ₹35,000 only equally to B and C.
d) A need to return ₹2,35,000 to the firm.
5 Interest on Partner’s loan is credited to: 1
a) Partner’s Fixed capital account.
b) Partner’s Current account.
c) Partner’s Loan Account.
d) Partner’s Drawings Account.
6 Alexa Ltd. purchased building from Siri Ltd for ₹8,00,000. The consideration was paid by issue of 1
6%debentures of ₹100 each at a discount of 20%. The 6% Debentures account is credited with:
a) ₹10,40,000
b) ₹10,00,000
c) ₹9,60,000
d) ₹6,40,000
OR
Which of the following statements is incorrect about debentures?
a) Interest on debentures is an appropriation of profits.
b) Debenture holders are the creditors of a company.
c) Debentures can be issued to vendors at discount.
d) Interest is not paid on Debentures issued as Collateral Security.
SUBJECT- ACCOUNTANCY (055)
CLASS XII (2023-24)
TIME 3 HOURS MAX. MARKS 80
GENERAL INSTRUCTIONS:
1. This question paper contains 34 questions. All questions are compulsory.
2. This question paper is divided into two parts, Part A and B.
3. Part - A is compulsory for all the candidates.
4. Part - B has two options i.e. (i) Analysis of Financial Statements and
(ii) Computerised Accounting.
Students must attempt only one of the given options as per the subject opted.
5. Question Nos.1 to 16 and 27 to 30 carries 1 mark each.
6. Questions Nos. 17 to 20, 31and 32 carries 3 marks each.
7. Questions Nos. from 21 ,22 and 33 carries 4 marks each
8. Questions Nos. from 23 to 26 and 34 carries 6 marks each
9. There is no overall choice. However, an internal choice has been provided in 7 questions
of one mark, 2 questions of three marks, 1 question of four marks and 2 questions of
six marks.
Q. PART A Marks
N0.
(Accounting for Partnership Firms and Companies)
1 A& B are partners sharing profits and losses in the ratio of 3:2. C is admitted for ¼ and for which 1
₹30,000 and ₹10,000 are credited as a premium for goodwill to A and B respectively. The new profit-
sharing ratio of A:B:C will be:
a) 3:2:1
b) 12:8:5
c) 9:6:5
d) 33:27:20
2 Assertion: Batman, a partner in a firm with four partners has advanced a loan of ₹50,000 to the firm for 1
last six months of the financial year without any agreement. He claims an interest on loan of
₹3,000 despite the firm being in loss for the year.
Reasoning: In the absence of any agreement / provision in the partnership deed, provisions of Indian
Partnership Act, 1932 would apply.
a) Both A and R are correct, and R is the correct explanation of A.
b) Both A and R are correct, but R is not the correct explanation of A.
c) A is correct but R is incorrect.
d) A is incorrect but R is correct.
3 If 10,000 shares of ₹10 each were forfeited for non-payment of final call money of ₹3 per share and 1
only 7,000 of these shares were re-issued @₹ 11 per share as fully paid up, then what is the minimum
amount that company must collect at the time of re-issue of the remaining 3,000 shares?
a) ₹ 21,000
b) ₹ 9,000
c) ₹ 16,000
d) ₹ 30,000
OR
On 1st April 2022, Galaxy ltd. had a balance of ₹8,00,000 in Securities Premium account. During the
year company issued 20,000 Equity shares of ₹10 each as bonus shares and used the balance amount to
, write off Loss on issue of Debenture on account of issue of 2,00,000, 9% Debentures of ₹100 each at a
discount of 10% redeemable @ 5% Premium. The amount to be charged to Statement of P&L for the
year for Loss on issue of Debentures would be:
a) ₹30,00,000.
b) ₹22,00,000.
c) ₹24,00,000.
d) ₹20,00,000.
4 A, B and C who were sharing profits and losses in the ratio of 4:3:2 decided to share the future profits 1
and losses in the ratio to 2:3:4 with effect from 1st April 2023. An extract of their Balance Sheet as at
31st March 2023 is:
Liabilities Amount(₹) Assets Amount(₹)
Workmen Compensation 65,000
Reserve
At the time of reconstitution, a certain amount of Claim on workmen compensation was determined for
which B’s share of loss amounted to₹5,000. The Claim for workmen compensation would be:
a) ₹15,000
b) ₹70,000
c) ₹50,000
d) ₹80,000
OR
A, B and C are in partnership business. A used ₹2,00,000 belonging to the firm without the information
to other partners and made a profit of ₹35,000 by using this amount. Which decision should be taken
by the firm to rectify this situation?
a) A need to return only ₹2,00,000 to the firm.
b) A is required to return ₹35,000 to the firm.
c) A is required to pay back ₹35,000 only equally to B and C.
d) A need to return ₹2,35,000 to the firm.
5 Interest on Partner’s loan is credited to: 1
a) Partner’s Fixed capital account.
b) Partner’s Current account.
c) Partner’s Loan Account.
d) Partner’s Drawings Account.
6 Alexa Ltd. purchased building from Siri Ltd for ₹8,00,000. The consideration was paid by issue of 1
6%debentures of ₹100 each at a discount of 20%. The 6% Debentures account is credited with:
a) ₹10,40,000
b) ₹10,00,000
c) ₹9,60,000
d) ₹6,40,000
OR
Which of the following statements is incorrect about debentures?
a) Interest on debentures is an appropriation of profits.
b) Debenture holders are the creditors of a company.
c) Debentures can be issued to vendors at discount.
d) Interest is not paid on Debentures issued as Collateral Security.
