कें द्रीय विद्यालय सगं ठन क्षेत्रीय कायाालय रायपरु
Kendriya Vidyalaya Sangathan Regional Office Raipur
Class - XII
Multiple Choice Question Bank
[MCQ ] Term – I
ACCOUNTANCY [ 055 ]
Based on Latest CBSE Exam Pattern
for the Session 2021-22
1|Page
, कें द्रीय विद्यालय सगं ठन क्षेत्रीय कायाालय रायपरु
Kendriya Vidyalaya Sangathan Regional Office Raipur
MESSAGE FROM DUPUTY COMMISSIONER
It is a matter of great pleasure for me to publish study material for
different subjects of classes X and XII for Raipur Region. Getting acquainted
and familiarized with the recent changes in curriculum and assessment
process made by CBSE vide Circular No. 51 and 53 issued in the month of
July 2021 will help students to prepare themselves better for the examination.
Sound and deeper knowledge of the Units and Chapters is must for grasping
the concepts, understanding the questions. Study materials help in making
suitable and effective notes for quick revision just before the examination.
Due to the unprecedented circumstances of COVID-19 pandemic the
students and the teachers are getting very limited opportunity to interact face
to face in the classes. In such a situation the supervised and especially
prepared value points will help the students to develop their understanding
and analytical skills together. The students will be benefitted immensely after
going through the question bank and practice papers. The study materials will
build a special bond and act as connecting link between the teachers and the
students as both can undertake a guided and experiential learning
simultaneously. It will help the students develop the habit of exploring and
analyzing the Creative & Critical Thinking Skills. The new concepts
introduced in the question pattern related to case study, reasoning and
ascertain will empower the students to take independent decision on different
situational problems. The different study materials are designed in such a
manner to help the students in their self-learning pace. It emphasizes the great
pedagogical dictum that ‘everything can be learnt but nothing can be taught’.
The self-motivated learning as well as supervised classes will together help
them achieve the new academic heights.
I would like to extend my sincere gratitude to all the principals and the
teachers who have relentlessly striven for completion of the project of preparing
study materials for all the subjects. Their enormous contribution in making
this project successful is praiseworthy.
Happy learning and best of luck!
Vinod Kumar
(Deputy Commissioner)
2|Page
, कें द्रीय विद्यालय सगं ठन क्षेत्रीय कायाालय रायपरु
Kendriya Vidyalaya Sangathan Regional Office Raipur
Our Patorn
Vinod Kumar
Deputy Commissioner
KVS RO Raipur
Smt.Biraja Mishra Sh.A.K. Mishra
Assistant Commissioner Assistant Commissioner
KVS RO Raipur KVS RO Raipur
Dr. A. Nagamani
Principal, Kendriya Vidyalaya No.2 NTPC Korba
3|Page
, CONTENT TEAM
• MR. G SHRIVASTAVA
• MR. C. B. PANDEY
• MR. ALOK KUMAR SINGH
• MR. PRADEEP SARDANA
• MR. AVINASH PANDEY
• MR. MANOJ BHARDWAJ
INDEX
S.N. Name of the chapter Editorial Team Page No.
(From – To)
01 Fundamentals of Partnership Sh. Pradeep Sardana 04 to 10
Accounting
02 Reconstitution of Partnership: Change Sh. Manoj Bhardwaj 11 to 17
in Profit-sharing ratio
03 Reconstitution of Partnership: Sh. Avinash Pandey 18 to 24
Admission of a partner
04 Accounting for Share Capital Sh. G Shrivastava 24 to 29
05 Financial Statements of a company as Sh. Alok Kumar Singh 29 to 34
per Schedule III and Financial
Statement Analysis
06 Accounting Ratios Sh. C B Pandey 34 to 40
07 Sample Question Paper I Sh. G Shrivastava 41 to 46
08 Answer Key and Explanation 47 to 59
4|Page
Kendriya Vidyalaya Sangathan Regional Office Raipur
Class - XII
Multiple Choice Question Bank
[MCQ ] Term – I
ACCOUNTANCY [ 055 ]
Based on Latest CBSE Exam Pattern
for the Session 2021-22
1|Page
, कें द्रीय विद्यालय सगं ठन क्षेत्रीय कायाालय रायपरु
Kendriya Vidyalaya Sangathan Regional Office Raipur
MESSAGE FROM DUPUTY COMMISSIONER
It is a matter of great pleasure for me to publish study material for
different subjects of classes X and XII for Raipur Region. Getting acquainted
and familiarized with the recent changes in curriculum and assessment
process made by CBSE vide Circular No. 51 and 53 issued in the month of
July 2021 will help students to prepare themselves better for the examination.
Sound and deeper knowledge of the Units and Chapters is must for grasping
the concepts, understanding the questions. Study materials help in making
suitable and effective notes for quick revision just before the examination.
Due to the unprecedented circumstances of COVID-19 pandemic the
students and the teachers are getting very limited opportunity to interact face
to face in the classes. In such a situation the supervised and especially
prepared value points will help the students to develop their understanding
and analytical skills together. The students will be benefitted immensely after
going through the question bank and practice papers. The study materials will
build a special bond and act as connecting link between the teachers and the
students as both can undertake a guided and experiential learning
simultaneously. It will help the students develop the habit of exploring and
analyzing the Creative & Critical Thinking Skills. The new concepts
introduced in the question pattern related to case study, reasoning and
ascertain will empower the students to take independent decision on different
situational problems. The different study materials are designed in such a
manner to help the students in their self-learning pace. It emphasizes the great
pedagogical dictum that ‘everything can be learnt but nothing can be taught’.
The self-motivated learning as well as supervised classes will together help
them achieve the new academic heights.
I would like to extend my sincere gratitude to all the principals and the
teachers who have relentlessly striven for completion of the project of preparing
study materials for all the subjects. Their enormous contribution in making
this project successful is praiseworthy.
Happy learning and best of luck!
Vinod Kumar
(Deputy Commissioner)
2|Page
, कें द्रीय विद्यालय सगं ठन क्षेत्रीय कायाालय रायपरु
Kendriya Vidyalaya Sangathan Regional Office Raipur
Our Patorn
Vinod Kumar
Deputy Commissioner
KVS RO Raipur
Smt.Biraja Mishra Sh.A.K. Mishra
Assistant Commissioner Assistant Commissioner
KVS RO Raipur KVS RO Raipur
Dr. A. Nagamani
Principal, Kendriya Vidyalaya No.2 NTPC Korba
3|Page
, CONTENT TEAM
• MR. G SHRIVASTAVA
• MR. C. B. PANDEY
• MR. ALOK KUMAR SINGH
• MR. PRADEEP SARDANA
• MR. AVINASH PANDEY
• MR. MANOJ BHARDWAJ
INDEX
S.N. Name of the chapter Editorial Team Page No.
(From – To)
01 Fundamentals of Partnership Sh. Pradeep Sardana 04 to 10
Accounting
02 Reconstitution of Partnership: Change Sh. Manoj Bhardwaj 11 to 17
in Profit-sharing ratio
03 Reconstitution of Partnership: Sh. Avinash Pandey 18 to 24
Admission of a partner
04 Accounting for Share Capital Sh. G Shrivastava 24 to 29
05 Financial Statements of a company as Sh. Alok Kumar Singh 29 to 34
per Schedule III and Financial
Statement Analysis
06 Accounting Ratios Sh. C B Pandey 34 to 40
07 Sample Question Paper I Sh. G Shrivastava 41 to 46
08 Answer Key and Explanation 47 to 59
4|Page
