CBSE Solved Sample Papers for Class 12 Accountancy

Mar 6 • Board Sample Papers • 30281 Views • 80 Comments on CBSE Solved Sample Papers for Class 12 Accountancy

CBSE is one of the most finest and reputed Board of Education that was originated with the aim of serving quality educations to their students.  As graduate, I have tried to prepare CBSE Solved Sample Papers for Class 12 Accountancy, which help students to give a clear understanding about the areas that is to be focused in the Board examination. Solved sample papers are generally preferred by the students as they give an exact idea of the questions asked in the exams along with the right way to answer them. So practice the given sample paper and judge your preparations before going for the exam. In order to enhance your practice in more efficient way you can also take help from CBSE Sample Papers Class 12 Maths.

General Instructions to be followed by the students:

CBSE Solved Sample Papers for Class 12 Accountancy

Accountancy Sample Paper

(1) All questions are compulsory.
(2) This paper consists of two parts. Part-A and Part-B.
(3) Part-A has question from 1 to 18.
(4) Part-B has questions from 19 to 25.
(5) Marks are allotted to each question.

CBSE Sample Papers for Class 12 Accountancy


1. Non-for-Organization have some distinguishing feature from that of profit organizations. State any one of them.
Ans- All the activities preliminary are guided by service motive rather than by profit motive in a Not-for-Profit organization.

2. Give the formula for calculating “gaining share” of a partner in a partnership firm.
Ans.The formula for extracting the gaining Share is by the gaining ratio is that
Gaining Ratio =  New Ratio – Old Ratio

3.  Pawan and Jayashree are partners. Bindu is admitted for 1/4th Share. What is the ratio in which Pawan and Jayshree will sacrifice their share in favor of Bindu?
Ans. Pawan and Jayshree will sacrifice their share of profit in their old profit sharing ratio in avour of Bindu i.e. Old ratio 1:1.

4. What is meant by “Convertible Debentures”?
Ans. When company offer the holders of Debenture to convert their held, Debentures into Equity  or preference Shares, it called the Convertible Debenture option.

5. What are calls in advance?
Ans. When a company accepts money paid by some of the allotter for the calls not due or retains the application money not exceeding the amount due on allotment, such amount is called calls in advance.

6. Briefly explain any four points of the need for the revaluation of assets and liabilities on the reconstitution of partnership firm.
Ans. At the time of reconstitution of the firm, assets and liabilities of the firms are revalued. The net grain (or loss) due to revaluation of assets and Liabilities is shared by the existing partners in their old profit sharing ratio. To calculate gain or loss on revaluation. “Revaluation Account” is opened at the time of admission or retirement or reconstitution of the firm of a partner.

7. When the Receipts and Payments Account is converted into an Income and Expenditure Account, an accounting concept is to be followed for provisions of the Accruals and outstanding. Name the concept that is followed?
Ans. In case of Provisions of Accruals and Outstanding the accrual concept of accounting is followed. When receipt and payment Account is converted into an Income and Expenditure Account.

8. Can a Receipts and Payments Account be prepared even without preparing a Cash Book, why?
Ans. Since the Receipts and Payments Account is a summary of Cash and Bank Transactions it  cannot be prepared without preparing a Cash Book.


9. List any four items which can credited to the Capital Account of a Partner when the Capital Account is fluctuating.
Ans. (i) Interest on Capital
(ii) Partners Salary
(iii) Partners Commission and
(iv) Share of Profit.

10. Explain the Accounting treatment in case of Dissolution of a firm.
Ans. As a simple rule of accounting the in case of dissolution of a firm the assets are realized and liabilities are always paid and if some balance comes after all these adjustment it will be taken away by the partners. Finally it will lead to closing of accounting books of the firm in that concerned accounting year itself. AT the time of dissolution these accounts like Partners Loan A/c, Partners Capital Accounts and Bank or Cash accounts have to be opened.

11. Write a note on Realization Account.
Ans. While all the partners of a firm decide to dissolve the firm they need to settle and adjustment in all the Assets and Liabilities of the firm, it may contains all the current and fixed assets and current liabilities including the creditors and loans etc. In order to dissolution of the firm the liabilities are the first thing a firm should take consider to take care of. For all these entries one common account is credited which is Realization Account, in case of any gain while sale off  or write off of an assets the  Realization Account is debited and in case of liabilities are paid off then the Realization account will be debited.

12. Explain the necessary steps to adjustment of goodwill in case of retirement/death of  partner.
Ans. The following are the necessary y adjustment of goodwill in case of retirement /death of partner

Step 1: If there is some value of goodwill is exists, then it should be immediately write off by debiting the partners’ capital a/c and crediting the goodwill A/c with full amount of good standing in the books and in Balance Sheet for the accounting year.

Step 2: The credit of goodwill for outgoing partner in respect of his profit sharing ratio should be given to outgoing partner by debiting the continuing partners’ Capital account in the gaining ratio and crediting the outing partner capital account.

13. State any one objective of Financial Statement Analysis.
Ans. In order to determine the growth strength of the company or organization analysis of Financial Statements are must.

14. Under which type of activity will you classify “Issuing 9% Debentures” while preparing Cash Flow Statement?
Ans. It will be classified as “Financing Activities”.

15. Declaration of Final Dividend would result inflow, outflow or no flow of cash. Give your answer with reason.
Ans. Money cannot flow out merely declaration of something may it be payment of receipt it should be paid or receipt in actually to have some effect so Declaration of Final Dividend would result in No Flow in Cash.

16. What is Contingent Liabilities,give two examples?
Ans. Contingent Liabilities are liabilities which are uncertain and related with uncertain events, sometime company face the situation where it has not to pay the contingent liabilities in form of Cash, one most important point regarding this is that contingent liabilities are never shown in the liabilities side of the Balance Sheet rather these are mentioned in the foot notes under the Balance Sheet. Two examples for it can be
i) Claims against the Company not acknowledged as debts or disputed claims.
ii) Bills discounted but not matured.

17. Explain the Report by the Board of Directors.
Ans. A company is compulsory bound by the company Act to hold a annual general meeting of with its shareholders. It called the Annual Genre al Meeting. All final accounts are present here for approval, two main accounts Balance Sheet and Profit & Loss Accounts are mandatory to shown in this meeting. As per Section 227 (2) of the Company Act 1956, this Annual Report must contain an attached report by the directors of the company which is called the Directors Report. The content of the Directors reports are fully specified in Company Act. Directors are free to express their views in form of this statement which they consider important.

18. List the items which are shown under the heading, “Non-Current Assets” in the Balance sheet of a company as per provisions of Schedule VI, of the Companies Act 1956.
a) Fixed Assets i)  Tangible Assets ii)  Intangible Assets iii) Capital work in progress
b) Non-current Investments
c) Deferred tax assets (net)
d) Long term loans and advances
e) Other Non-current assets

19. Prepare a Comparative Income Statement with the following information:

Particulars                         20112012
Net Sale20,00,00025,00,000
Cost of Good Sold60%of Sales60% of Sales
Indirect Expenses10% of Gross Profit

Income Tax 50% of Net Profit before Tax
Ans. Comparative Income Statement

Particulars20102011Absolute change% Change
Net SalesLess: Cost of Goods Sold20,00,00012,00,00025,00,00015,00,0005,00,0003,00,00025%25%
Gross ProfitLess: Indirect Expenses







Profit Before Tax  (PBT) Less: Tax7,20,0003,60,0009,00,0004,50,000



Profit After Tax  (PAT)3,60,0004,50,00090,00025%

For more solved accountancy papers for class 12 pdf, click on the link below

1) CBSE Solved Sample Papers for Class 12 Accountancy
2) Solved CBSE Accountancy Sample Papers for Class 12
3) Solved Accountancy Sample Paper for Class 12 CBSE

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