List of top Accountancy Questions asked in CBSE CLASS XII

Akash and Mita were partners in a firm sharing profits and losses in the ratio of 5:3. Their capitals were Rs 9,00,000 and Rs 6,00,000 respectively. The normal rate of return was 15%.

The profits of the last four years were:

The closing stock for the year 2024-25 was undervalued by Rs 50,000. Goodwill is to be valued at two years' purchase of last four years' average super profits. Calculate the value of goodwill of the firm.

Sana Ltd. purchased assets of Rs 19,00,000 from MN Ltd. Sana Ltd. issued 10% Debentures of Rs 100 each at a discount of 5% in full satisfaction of the purchase consideration. The number of debentures issued to MN Ltd. was:

Delta Ltd. issued 5,000, 10% Debentures of Rs 500 each at Rs 450 per debenture. 10% Debentures Account will be credited by:

Diksha Ltd. was registered with an authorised capital of Rs 40,00,000 divided into shares of Rs 10 each. On 1st April, 2025, the company offered to the public for subscription, 1,20,000 shares. Applications for 1,10,000 shares were received and allotment was made in full to all the applicants. A shareholder holding 10,000 shares failed to pay the second and final call of Rs 2 per share.

What are the three categories in which accounting entries can be classified while entering them in vouchers?

List the necessary information to be filled by a user on company creation screen.

What is a Chart/Graph? Explain its advantages.

Explain Sequential codes and Block codes with the help of example.

A user wishes to change a 'Text Option' as an element of chart. State how can this be done.

The process of comparing input data with some known data is known as:

'Computerised Accounting System enables changing the volume of data processing in accordance with the size and growth of the business.' Identify the feature of Computerised Accounting System being highlighted in the statement:

____ provides additional information about a data marker to identify the details of data point in a data series.

Which financial function calculates the lump-sum amount for series of future payments?

Identify what will be displayed on the screen when we specify an intersection of two areas that do not intersect.

Which of the following is not a feature of 'Generic' Computerised Accounting Software?

From the following information, calculate 'Inventory Turnover Ratio':

Gross profit is 25% of cost of revenue from operations. Closing inventory was 2 times the opening inventory.

JC Ltd. earned a net profit of Rs 50,000 after providing depreciation of Rs 20,000 on fixed assets and a transfer of Rs 15,000 to general reserve. The position of its Current Assets and Current Liabilities was as follows:

Calculate cash flows from operating activities.

From the following information, calculate 'Interest Coverage Ratio':

Statement I: Operating activities are the activities that constitute the primary or main activities of an enterprise.

Statement II: Cash advances and loans made by financial enterprises are usually classified as operating activities.

Choose the correct option from the following:

Classify the following items under major heads and sub-heads (if any) in the Balance Sheet of a company as per Schedule-III, Part-I of the Companies Act, 2013:

(i) Prepaid insurance

(ii) Securities Premium

(iii) Design

From the following information of Dholakia Ltd., prepare a Comparative Statement of Profit and Loss for the year ended 31st March, 2024 and 2025:

Radha, Shyam and Meera were partners in a firm sharing profits and losses equally. Their Balance Sheet as at 31st March, 2025 was as follows:

Shyam retired from the firm on the above date on the following terms:

(i) The new profit sharing ratio between the remaining partners was agreed at 3:2.

(ii) The value of stock was to be reduced by Rs 1,20,000.

(iii) Patents were considered as valueless and hence were to be written off.

(iv) Goodwill of the firm was valued at Rs 6,00,000 on Shyam's retirement.

(v) Shyam was paid Rs 1,00,000 immediately on his retirement and the balance was transferred to his loan account.

Prepare Revaluation Account and Partners' Capital Accounts.

Which of the following is not a Solvency Ratio?

Which of the following is a financial statement of a company?

The Current Ratio of Megh Raj Ltd. is 1.5:1. Which of the following transactions will reduce the ratio?