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Published on: 25/10/2025
Download CBSE Class 12th Standard CBSE Accountancy question papers, sample papers, important questions, and previous year solved papers in PDF format. Get free study materials, NCERT solutions, and exam preparation resources for Class 12th Standard CBSE Accountancy
Questions + Answers key
Take MCQ Accountancy Test
1.
You are to collect the following information about a company for two years:
| Particulars | 2013-14 | 2014-15 |
|---|---|---|
| Rs | Rs | |
| Trade Receivable On April 01 | 4,00,000 | 5,00,000 |
| Trade Receivable on March 31 | - | 5,60,000 |
| Inventory on March 31 | 6,00,000 | 9,00,000 |
| Revenue from Operations(at gross profit of 25%) | 30,00,000 | 24,00,000 |
Calculate Inventory Turnover Ratio and Trade Receivables Turnover Ratio if in the year 2013-14, Inventory increased by Rs.2,00,000.
2.
The ratio of Current Assets (Rs.6,00,000) to Current Liabilities (Rs.4,00,000) is 1.5:1. The accountant of the firm is interested in maintaining a Current ratio of 2:1, by paying off a part of the current liabilities. Compute the amount of current liabilities that should be paid, so that the current ratio at the level of 2:1 may be maintained.
3.
Current liabilities of a company are Rs.1,60,000. Its Liquid ratio is 1.5:1 and Current ratio is 2.1:1. Calculate Quick assets and Current assets.
4.
A business has a current ratio of 3:1. Its networking capital is Rs.4,00,000 and its stocks are valued at Rs.2,50,000. Calculate the quick ratio. Is it satisfactory? Identify the value shown by the company in maintaining such a quick ratio
5.
What will be the operating profit ratio if operating ratio is 83.64%?
6.
The inventory turnover ratio of a company is 3 times. State, giving reason, whether the ratio improves, declines or does not change because of increase in the value of closing inventory by Rs.5,000.
7.
The debt-equity ratio of a company is 0.8:1. State whether the long-term loan obtained by the company will improve, decrease or not change the ratio.
8.
The working capital of Printwell Ltd is Rs.4,00,000 and its current assets are of Rs.12,00,000. Calculate its current ratio.
9.
The working capital of Hind Trading Company is Rs.5,50,000. Its trade payables amount to Rs.75,000 and other current liabilities to Rs.1,25,000. Calculate its current ratio.
10.
The current ratio of a company is 2 : 1. State giving reasons, which of the following would improve, reduce or not change the ratio.
(i) Repayment of a current liability.
(ii) Purchasing goods on cash.
(iji) Sale of office equipment of Rs.4,000 (book value Rs.5,000).
(iv) Sale of goods Rs.11,000 (cost Rs.10,000).
(v) Payment of dividend.
11.
Calculate the current ratio if working capital Rs.15,000, total liabilities (other than shareholders' funds) Rs.32,500, long-term debt Rs.25,000.
1.
2014-15: Inventory Turnover Ratio 2.4 times, Trade Receivable Turnover Ratio 4.53times.
2.
Let payment for Current Liabilities= X
\(\frac { 2 }{ 1 } =\frac { Rs.6,00,000-X }{ Rs.4,00,000-X } \)
\(Rs.8,00,000-2X=Rs.6,00,000-X \)
\(X=\quad Rs.2,00,000,\)
3.
Current assets Rs.4,00,000 (i.e., Rs.1,60,000X2.5), Quick assets Rs.2,40,000 (i.e., Rs.1,60,000X1.5).
4.
( )
Ouick ratio = 7:4
5.
( )
Operating Profit Ratio=100-83.64% =16.36%.
6.
( )
The inventory turnover ratio declines because of increase in the value of closing inventory means decline in sales volume
7.
( )
Debt Equity Ratio will improve because of increase in long-term debts.
8.
\(current\ ratio=\frac { Current\ assets }{ Current\ liabilities* } =\frac { 12,00,000 }{ 8,00,000 } =1.5\)
*Current liabilities = Current assets - Working capital
=12,00,000-4,00,000=Rs.8.00.000
9.
\(current\quad ratio=\frac { Current\quad assets** }{ Current\quad liabilities* }\)
\(=\frac { 7,50,000 }{ 2,00,000 } =3.75:1\)
*Current liabilities = Trade payables + Other current liabilities
=75,000+1,25,000=Rs.2,00,000
**Current assets=Working capital + Current liabilities
=5,50,000+2,00,000=Rs.7,50,000
10.
(i) Improve (ii) No change (iii) Improve (iv) Improve (v) Improve
11.
Current ratio = 3 : 1
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