AHSEC Class 12 Important Questions
Accountancy Important Questions and Question Paper Pattern
AHSEC ACCOUNTANCY CLASS 12
Pattern of Question Paper
|
No of Questions |
Marks Per Questions |
Total |
|
7 |
1 |
7 |
|
6 |
2 |
12 |
|
4 |
3 |
12 |
|
5 |
5 |
25 |
|
3 |
8 |
24 |
|
Total Marks Project Work |
80 20 |
|
Theoretical and Practical Questions (Distribution of marks including
optional Questions)
|
Year |
Theory |
Practical |
Total Marks |
|
2012 |
92 |
57 |
149 |
|
2013 |
59 |
76 |
135 |
|
2014 |
54 |
65 |
119 |
|
2015 |
72 |
70 |
142 |
|
2016 |
87 |
84 |
171 |
|
2017 |
88 |
74 |
162 |
|
2018 |
89 |
68 |
157 |
|
2019 |
89 |
75 |
167 |
|
2020 |
89 |
75 |
164 |
|
2022 |
80 |
70 |
150 |
Chapter wise Important Questions (Theory)
Unit – 1: Accounting for Not For Profit
Organisation (1+2+5)
Q.1.
What is Profit motive and Not-For-Profit Organisation? What are its features? 2007,
2008, 2015, 2016, 2020, 2022
Q.2.
What are various types of NPOs? Distinguish between not-for-profit organisation
and profit motive organisation? 2019
Q.3. What are various types of
financial statements prepared by NPOs? Explain cash and accrual basis of
accounts.
Q.4. What
do you mean by Receipts and Payments Account? What are its features? Mention
its merits and limitations. 99, 05,
09
Q.5. What
do you mean by Income and Expenditure Account? What are its features?
Distinguish between Receipts and Payments and Income and Expenditure Accounts? 99, 03, 08, 2016, 2017, 2018, 2019,
2020, 2022
Q.6.
Explain the Treatment of the following Specific items in Receipts and Payments
and Income and Expenditure accounts. 2019
Q.7.
What is Deferred Revenue Expenditure? What are its features? Give
Examples. 2010
Q.8. What is Capital fund? 2011, 2014, 2017, 2022
Q.9. What are incidental trading
activities?
Q.10. What is fund based accounting
and non-fund based accounting? What are various principles of fund based
accounting? Distinguish between fund based and non-fund based accounting. 2016, 2017, 2020, 2022
Q.11. What are various types of fund
created by not-for profit organisation?
Q.12. Mention the steps involved in
preparation of Income and Expenditure account (2018) and Receipts and Payments
account. 2018
Q.13. Mention the steps involved in preparation of Balance sheet of an NPO.
Unit – 2: Accounting For Partnership Firms (1+3+5+8)
Q.1. Define the term “Partnership”,
Partners, Firm and Firm name. What are essentials of partnership?
Q.2. What is Partnership Deed? What
are its contents? 1999,
2003, 2007, 2009, 2014, 2018, 2019
Q.3. What are the rules to be followed
in the absence of Partnership agreement between partners? 2000, 2002, 2009,
2011, 2014
Q.4. Mention three Rights and Duties
of Partners. 2009, 2014, 2022
Q.5. What are various types of
partners and partnership?
Q.6. What is Profit and Loss
appropriation Account? Mention its purpose and features. Distinguish between
profit and loss account and profit and loss appropriation account. 2020, 2022
Q.7. What is fixed and fluctuating
capital? Distinguish between them. 2007,
2020, 2022
Q. 8. Mention the adjustment entries
for P/L appropriation account. 1999,
2003, 2012,
Q.9. What do you mean by Guarantee in
Partnership and Past Adjustments?
Q.10. What is Joint Venture? Write two
similarities and difference between Joint venture and Partnership.
Q.11. What do you mean by Goodwill?
What are its various types? Why it is valued?
2017, 2019
Q.12. What are various characteristics
of goodwill? What are the factors affecting the value of goodwill?
Q.13. Explain various methods for valuation of Goodwill. 2008, 2013, 2015, 2017
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ACCOUNTANCY CHAPTERWISE COMPLETE NOTES
1. ACCOUNTING FOR NOT FOR PROFIT ORGANISATION
2. BASICS OF PARTNERSHIP (INCLUDING GOODWILL)
3. RECONSTITUTION OF PARTNERSHIP (ADMISSION, RETIREMENT AND DEATH)
4. DISSOLUTION OF PARTNERSHIP FIRM
5. ACCOUNTING FOR SHARE CAPITAL
6. ISSUE AND REDEMPTION OF DEBENTURES
7. FINANCIAL STATEMENTS OF A COMPANTY
8. FINANCIAL STATEMENTS ANALYSIS
9. RATIO ANALYSIS
10. CASH FLOW STATEMENTS
**************************
Unit – 3: Reconstitution of Partnership (Admission, Retirement and Death of a Partner)
Q.1. What do you mean by
“Reconstitution of a Partnership”? Under what situations it takes place?
Explain them. 2012
Q.2. What is revaluation and
revaluation account? When and Why revaluation of Assets and Liabilities are
done in Partnership Business? 2013
Q.3. What is Memorandum
Revaluation Account? Distinguish between Revaluation and Memorandum revaluation
account?
Q.4. What do you mean admission of a
partner? Why a New Partner is admitted into Partnership? Also mention its
effect.
Q.5. What
is Sacrifice and Gaining Ratio? Distinguish between them. 2008, 2010, 2012, 2013, 2015,
2020
Q.6. Define Hidden Goodwill and Joint
Life Policy. 2007,
2009, 2013, 2014
Q.7. What do you mean by retirement of
partner? Mention the causes and effect of retirement of partner. How the amount
due to retiring Partner is calculated? 2013,
2016, 2017
Q.8. Explain the
liability of retiring partner. What adjustments are necessary at the time of
admission, retirement or death of a partner?
Q.9. Explain the treatment of
accumulated profits or losses at the time of reconstitution of the firm.
Q.10. How the amount due to the executor’s
of Deceased Partner is calculated? Explain the provisions of Sec.37 of the Partnership
Act regarding payment of the amount due to the executor’s of the deceased
partner? 2014, 2016
Q.11. How deceased partner’s share of profit upto the date of death
is calculated? 2014
Q.11. What is Premium for Goodwill? Explain the treatment of goodwill at the time of admission of a new partner.
Unit – 4: Dissolution of Partnership Firms (1+2+5 or 8)
Q.1. What do you mean by Dissolution
of Partnership and Dissolution of Partnership Firm? Distinguish between them. 2012, 2015, 2018,
2020, 2022
Q.2. What are various mode of
dissolution of a Partnership Firm? Explain them briefly. 2011, 2014,
2016, 2019, 2020, 2022
Q.3. What is Realisation Account? Mention
its objectives. Distinguish between realisation account and revaluation
account. 2017, 2019, 2022
Q.4. What are
unrecorded assets and unrecorded liabilities? Explain its treatment in
realisation account.
Q.5. How are the accounts settled between partners on the dissolution of a partnership firm? 2015
Unit – 5: Accounting for Share Capital (2+5+8)
Q.1.
Define the term Company. Mention its features. 2001,
2009
Q.2. What do you mean by shares? What
are its various types? Explain them. 1999,
2000, 2016, 2017, 2020
Q.3. Distinguish between the
following:
(a) Partnership Firm and Joint Stock Company
(b) Equity Shares and Preference Shares 1999, 2005, 2009, 2012
(c) Shares and Debentures 2002, 2004, 2006, 2008, 2010, 2012, 2014, 2016, 2017, 2018, 2020, 2022
(d) Shares and Stock
(e) Difference between Private company and
Public company
(f) Difference between under subscription and oversubscription 2022
Q.4. What is Share Capital? Mention
its various categories. 2014, 2019
Q.5. What are the various purposes for
which Securities Premium can be utilised? 2003, 08, 12, 13, 2020, 2022
Q.6. Can a company issue shares at discount?
If yes, under what conditions? 2003,
2014
Q. 7. What is Reserve Capital and
Capital Reserve? Distinguish between them. 2017,
2018
Q.8.
What Statutory and Statistical Books? Give examples of such books. 2004, 2008, 2014
Q.9.
What do you mean by forfeiture of shares and re-issue of shares? How shares are
forfeited and re-issued? 2012, 2015, 2016, 2018, 2019
Q.10.
Briefly explain various types of company.
Q.11. Explain the concept of issue of shares at par, at a
premium and at a discounted price. 2017
Q.
12. Write short notes on: 2016
1. Right Issue:
2. Calls-in-Arrears: 2018, 2019
3. Calls-in-Advance: 2018, 2020
4. Minimum Subscription 2017,
2019
5. Oversubscription and Pro-rata allotment: 2018,
2019, 2020
6. Under subscription: 2018, 2020
7. Sweat Equity Shares:
8. Issue of Shares in consideration other than cash:
9. Preliminary
Expenses: 2017
10. Bonus
shares:
11. Buy-back
of shares:
12. Employees stock option
plan (ESOP):
13. Methods of raising capital:
Unit – 6: Accounting for Debentures (Issue and Redemption)(2+8)
Q.1. What do you mean by “Debentures”
and “Bonds”? Mention its features. What are its advantages and disadvantages?
2007, 2013, 2015, 2017, 2018
Q.2. What are various Types of
Debentures? Explain them briefly. 2018
Q.3. What do you mean by Issue of
Debenture as Collateral Security? Explain its accounting treatment.
Q.4. What do you mean by Redemption of
Debentures? Explain its sources and Methods.
2012, 14, 15, 17, 19, 00 , 2022
Q.5. What do you mean by “Discount on
Issue of Debenture” and “Loss on Issue of Debenture”? Explain its treatment. 2012, 2013, 2014, 2019
Q.6. What is Sinking Fund? Why and How
it is created? 2013
Q.7.
What is Debenture Trust Deed and Zero coupon bonds/Debentures?
Q.8.
Explain the provisions of Debenture Redemption Reserve (DRR) according to the
Indian Companies Act, 2013.
Q.9. What are various terms for issue and redemption of debentures?
*************************
CHAPTERWISE PRACTICAL IMPORTANT QUESTIONS
PROFIT AND LOSS APPROPRIATION ACCOUNT AND PARTNERSHIP DEED
VALUATION OF GOODWILL
ADMISSION OF A PARTNER
RETIREMENT OF A PARTNER
DEATH OF A PARTNER
DISSOLUTION OF PARTNERSHIP FIRM
ACCOUNTING FOR SHARE CAPITAL
ISSUE AND REDEMPTION OF DEBENTURES
ANALYSIS OF FINANCIAL STATEMENTS
RATIO ANALYSIS
CASH FLOW STATEMENT
Unit – 7: Financial Statements of a Company (1+3+3)
Q.1. Explain the term “Financial
Statements”. What are its Ideal Characteristics? 2012, 16, 17, 19
Q.2. What are various types of
financial statements? Explain them. 2016
Q.3. Draft a Format of Revised Balance
Sheet of a Company and Statement of Profit and Loss. (MOST IMPORTANT PART) 2012,
2013, 2014, 2015, 2016, 2017, 2018, 2020, 2022
Q.4. Explain the purpose of preparing
various types of financial statements. 2019,
2020
Q.5. Who are the users of Financial
Statement? What types of information provided by it? Explain its importance and
limitations. 2012,
2013, 2015, 2016, 2022
Q.7. What are contingent liabilities?
Mention two items included under this head? 2013,
2019
Q.6. Difference between Balance Sheet of a Company and Balance sheet of a Partnership Firm. 2015
Unit – 8: Analysis of Financial Statements (3+5)
Q.1. What is financial analysis? What are its
significance and Limitations (5 Points)? 2012,
2013, 2016
Q.2. What are various types of Financial
Analysis? 2012
Q.3. Who are the parties interested in
financial analysis?
Q.4.
What are various tools of Financial Analysis? Explain them with their
respective merits and limitations.
a) Comparative
balance sheets and income statements 2016, 2018, 2019, 2022
b) Common
size statements, 2015, 2017, 2018, 2020
c) Trend
analysis, 2014, 2017
d) Ratio
analysis,
e) Cash flow
analysis.
Q.5.
What is window dressing of financial statements? How does it affect the
analysis of financial statements?
Unit – 9: Ratio Analysis (3+5)
Q.N.1. what do you mean by ratio
analysis? What are the objectives and advantages of such analysis? Also point
out the limitations of ratio analysis. 2012,
2012, 2018, 2020, 2022
Q.N.2. What are the types of Ratios according
to traditional classification? 2016,
2017
Q.N.3. Explain the meaning and method of
calculation of some specific ratios.
a) Current Ratio:
b) Liquid Ratio: 2022
c) Gross Profit Ratio: 2019, 2022
d) Net Profit Ratio:
e) Operating Profit Ratio: 2019
f) Operating Ratio:
g) Return on Investment or Return on
Capital Employed:
h) Return on Equity:
i) Earnings Per Share:
j) Price-earning Ratio:
k) Debt-Equity Ratio: 2022
l) Proprietary Ratio:
m) Capital Turnover Ratio:
n) Fixed Assets Turnover Ratio:
o) Working Capital Turnover Ratio:
p) Stock Turnover Ratio: 2022
q) Debtors’ Turnover Ratio:
r) Debt Collection Period:
s) Creditor’ Turnover Ratio:
t) Average Payment Period:
Unit – 10: Cash Flow Statement (5)
Q.1.
What is Cash Flow Statement? What are its objectives? Mention its uses and
Limitations. 2012, 13, 15, 16,
17, 19, 20, 2022
Q.2. How cash flow statement is prepared (Direct Method and Indirect method)? Or What are various classification of Cash flows? Give four examples of each. 2013, 2017, 2018, 2022
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