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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.
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.
2.
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.
3.
A business has a current ratio of 3:1 and quick ratio of 1:2:1. If the working capital is Rs.1,80,000, calculate the total current assets and value of inventory.
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 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.
7.
From the given information of Friends Company, calculate inventory turnover ratio
Cost of revenue from operations = Rs.7,50,000
Purchases made during the year = Rs.10,00,000
Opening inventory = Rs.2,50,000
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.
From the following details, calculate return on investment.
Gross profit Rs.26,000, selling and distribution expenses Rs.7,200,10% debentures Rs.15,000,tax Rs.3,000, fixed assets Rs.65,000, current assets Rs.30,000, current liabilities Rs.12,000.
10.
Calculate debt equity ratio from the following information.
Total assets = Rs.3,50,000, total debt = Rs.2,50,000, current liabilities = Rs.80,000
11.
A business has a current ratio of 3:1 and a quick ratio of 1.2:1. If the working capital is Rs.1,50,000, calculate total current assets and inventory.
12.
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.
Let payment for Current Liabilities= X
\(\frac { 2 }{ 1 } =\frac { Rs.6,00,000-X }{ Rs.4,00,000-X } \)
\(Rs.8,00,000-2X=Rs.6,00,000-X \)
\(X=\quad Rs.2,00,000,\)
2.
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).
3.
Current Assets Rs.2,70,000 (i.e., Rs.90,000); Value of inventiry Rs.1,62,000 (i.e., 2,70,000 - Rs.1,08,000)
Hints: (i) Current Liabilities = Rs.90,000 (i.e. Rs. \(1,80,000\div 2\) )
(ii) Liquid Assets Rs.1,08,000 (i.e. Rs.90,000X 1.2)
4.
( )
Ouick ratio = 7:4
5.
( )
Operating Profit Ratio=100-83.64% =16.36%.
6.
( )
Debt Equity Ratio will improve because of increase in long-term debts.
7.
Inventory turnover ratio=\(\frac { Cost\ of revenue\ from\ operations* }{ Average\ inventory** } =\frac { 7,50,000 }{ 3,75,000 } \)=2 times
*Costof revenue from operations =Opening inventory +Purchases +Direct expenses -Closinginvention
\(\Rightarrow\)Closing inventory = Opening inventory + Purchases - Cost of revenue from
= 2,50,000 + 10,00,000 - 4,50,000 = Rs.5,00,000
** Average inventory=\(\frac { Opening\ inventory+Closing\ inventory }{ 2 } \)
\(=\frac { 2,50,000+5,00,000 }{ 2 } =Rs.3,75,000\)
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.
Return on investment = 22.65%
10.
Debt equity ratio = 1.7 : 1
11.
Current assets = Rs.2,25,000 ; Inventory = Rs.1,35,000
12.
Current ratio = 3 : 1
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