List of top Questions asked in CBSE CLASS XII- 2026

Write the steps to change format of selected chart element.

Explain any three features of Computerized Accounting System.

Which of the following is not a part of equity and liability group of accounts?

Which chart element details the data values and categories below the chart:

Depreciation is generated from which of the following accounting sub-system:

What is used to build single formula with multiple results in Excel?

Which type of software package is suitable for an organization where the volume of accounting transaction is very low and adaptability is very high?

In common size income statement, each item is expressed as a percentage of ____.

The statements which are useful both in intra firm comparison over different years and also in inter firm comparison for the same year or for several years are known as:

Classify the following items under the main heads and sub-heads (if any) of the Company's Balance Sheet according to Schedule III, Part I of Companies Act, 2013:

(i) Outstanding expenses

(ii) Work-in-progress

(iii) Capital Advances

From the following balance sheet of Benkley Ltd., prepare a Comparative Balance Sheet:

Balance Sheet of Benkley Ltd. as at 31st March, 2025

Particulars	31.3.2025 (Rs)	31.3.2024 (Rs)
I. Equity and Liabilities:
1. Shareholders' funds Share capital	18,00,000	12,00,000
2. Non-current liabilities Long term borrowings	4,50,000	3,00,000
3. Current liabilities Short term borrowings	4,50,000	3,00,000
Total	27,00,000	18,00,000
II. Assets
1. Non-current assets Property, Plant and Equipment and Intangible assets	18,00,000	6,00,000
2. Current Assets (a) Inventories	6,00,000	6,00,000
(b) Cash and Cash Equivalents	3,00,000	6,00,000
Total	27,00,000	18,00,000

The following information has been obtained from the books of Naval Ltd. Trade receivables turnover ratio of the company is 4 times, cost of revenue from operations Rs 6,40,000; gross profit ratio 20%, closing trade receivables were Rs 20,000 more than that in the beginning, cash revenue from operations being 33-1/3% of credit revenue from operations. Calculate its opening and closing trade receivables.

Mainly the components of computer are:

From the following Balance Sheet of Rama Ltd. as at 31st March, 2025, calculate cash flows from Investing Activities and cash flows from Financing Activities.

Particulars	Note No.	31-3-2025 (Rs)	31-3-2024 (Rs)
I. Equity and Liabilities:
1. Shareholders funds (a) Share Capital		21,00,000	10,00,000
(b) Reserves and Surplus	1	1,30,000	2,40,000
2. Non-current liabilities Long-term borrowings	2	2,50,000	3,20,000
3. Current Liabilities (a) Short-term borrowings	3	90,000	70,000
(b) Trade Payables		20,000	60,000
Total		25,90,000	16,90,000
II. Assets:
1. Non-current Assets (a) Property, Plant and Equipment and Intangible Assets (i) Property Plant and Equipment	4	14,00,000	9,00,000
(ii) Intangible Assets	5	4,00,000	2,40,000
(b) Non-current Investments		5,44,000	3,40,000
2. Current Assets (a) Inventories		1,45,000	54,000
(b) Trade Receivables		62,000	1,26,000
(c) Cash and Cash Equivalents		39,000	30,000
Total		25,90,000	16,90,000

Notes to Accounts:

Note No.	Particulars	31-03-2025 (Rs)	31-03-2024 (Rs)
1.	Reserves and Surplus i.e. Balance in Statement of Profit and Loss	1,30,000	2,40,000
2.	Long-term borrowings 10% Debentures	2,50,000	3,20,000
3.	Short-term borrowings Bank overdraft	90,000	70,000
4.	Property, Plant and Equipment Plant and Machinery Accumulated Depreciation	15,20,000 (1,20,000) 14,00,000	9,80,000 (80,000) 9,00,000
5.	Intangible Assets: Goodwill	4,00,000	2,40,000

Additional Information:

(i) Depreciation amounting to Rs 80,000 was charged on plant and machinery during the year.

(ii) During the year a new machine costing Rs 8,00,000 was purchased and an old machine was sold at a profit of Rs 8,000.

(iii) Interest paid on debentures amounted to Rs 32,000.

Mitali and Karan were partners in a firm sharing profits and losses in the ratio of 3:2. Their Balance Sheet as on 31st March, 2025 was as follows:

Liabilities	Amount (Rs)	Assets	Amount (Rs)
Capitals: Mitali 8,00,000 Karan 5,00,000	13,00,000	Machinery	8,00,000
Investment Fluctuation fund	20,000	Furniture	5,00,000
Bank loan	1,30,000	Investments	1,50,000
Creditors	2,00,000	Debtors 1,10,000 less Provision 10,000	1,00,000
		Stock	80,000
		Cash	20,000
Total	16,50,000	Total	16,50,000

On 1st April, 2025, Nitin was admitted for 1/4 share in the profits of the firm on the following terms:

(i) Nitin will bring Rs 3,00,000 as Capital and Rs 1,50,000 for his share of goodwill premium in cash.

(ii) Stock was sold at Rs 70,000.

(iii) Machinery was found to be overvalued by Rs 8,500.

(iv) All debtors were found to be good, hence provision for doubtful debts was not required.

(v) A liability of Rs 3,500 included in creditors is not likely to arise.

(vi) The market value of the investments was Rs 1,40,000.

(vii) The new profit sharing ratio between Mitali, Karan and Nitin will be 2:2:1.

Pass necessary journal entries for the above transactions on Nitin's admission.

Raghav, Meeta and Pranav were partners in a firm sharing profits and losses in the ratio of 5:3:2. Their balance sheet as at 31st March, 2025 was as follows:

Liabilities	Amount (Rs)	Assets	Amount (Rs)
Capitals: Raghav 2,50,000 Meeta 2,00,000 Pranav 1,50,000	6,00,000	Plant and Machinery	4,30,000
General Reserve	40,000	Furniture	1,60,000
Bills payable	30,000	Stock	90,000
Creditors	1,20,000	Debtors 80,000 less Provision 2,000	78,000
		Cash	32,000
Total	7,90,000	Total	7,90,000

On 1st April, 2025, Pranav retired from the firm on the following terms:

(i) Plant and Machinery was found to be undervalued by Rs 20,000.

(ii) Furniture was revalued at Rs 1,62,000.

(iii) The provision for doubtful debts on debtors was to be created @ 5%.

(iv) Goodwill of the firm was valued at Rs 4,00,000 and the same was to be adjusted through the capital accounts of the remaining partners.

(v) Pranav was paid in cash brought in by Raghav and Meeta in such a way so as to make the capital proportionate to the new profit sharing ratio.

Prepare Revaluation Account and Partners' Capital Accounts.

Statement-I: Cash equivalents mean short term highly liquid investments that are readily convertible into known amounts of cash and which are subject to an insignificant risk of changes in value.

Statement-II: An investment normally qualifies as a cash equivalent only when it has a short maturity period of three months or more from the date of acquisition.

Choose the correct alternative from the following:

Which of the following transactions is NOT a cash flow from investing activity?

Which of the following transactions will not result in flow of cash?

The quick ratio of Theta Ltd. is 0.8:1. Which of the following transactions will result in decrease in this ratio?

Raga Ltd. invited applications for issuing 85,000 equity shares of Rs 100 each at par. The amount was payable as follows:

On Application - Rs 30 per share

On Allotment - Rs 40 per share

On First and final call - balance

Applications were received for 80,000 shares and allotment was made to all the applicants in full. When the allotment was due, one shareholder failed to pay the amount on 300 shares held by him and another shareholder holding 500 shares paid the entire amount on his shares. The first and final call was duly received, along with arrears of allotment.

Pass necessary journal entries for the above transactions in the books of Raga Ltd. Open 'Calls in Arrears Account' and 'Calls in Advance Account' wherever necessary.

Pass necessary journal entries for forfeiture and reissue of forfeited shares in the following cases:

(i) Sanya Ltd. forfeited 2,000 shares of Rs 10 each, issued at a premium of Rs 2 per share, Rs 8 called up, for non-payment of allotment money of Rs 5 per share (including premium). Out of these, 700 shares were reissued to Dev as Rs 8 paid up for Rs 10 per share.

(ii) Moksh Ltd. forfeited 5,000 shares of Rs 10 each on which first call of Rs 3 per share was not received. The second and final call of Rs 2 per share has not yet been called. Out of these, 2,000 shares were issued to Geeta as Rs 8 paid up for Rs 7 per share.

Anish, Bindu and Chandni were partners in a firm sharing profits and losses in the ratio of 2:2:1. Anish died on 31st December, 2023. After all necessary adjustments, Anish's Capital Account showed a credit balance of Rs 5,00,000. Anish's executors were paid Rs 1,00,000 in cash on 1st January, 2024 and the balance in two equal yearly instalments starting from 31st December, 2024 with interest @ 12% p.a. on the unpaid amount. The firm closes its books on 31st March every year. Prepare Anish's Executors Account till the amount is finally paid.

Delta Ltd. invited applications for issuing 30,000, 9% debentures of Rs 100 each at a premium of Rs 30 per debenture. The full amount was payable on application. Applications were received for 40,000 debentures. Applications for 2,000 debentures were rejected and the application money was refunded. Debentures were allotted to the remaining applicants on pro rata basis. Pass the necessary journal entries for the above transactions in the books of Delta Ltd.

A business earned average profits of Rs 60,000 during the last three years. The normal rate of return on similar business is 12%. The value of net assets of the business is Rs 4,00,000. Calculate the value of goodwill by:

(i) Capitalisation of average profits method.

(ii) Capitalisation of super profits method.