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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.
From the following information calculate
a) Debt equity ratio b) Total Assets to Debt ratio c) Preproetory ratio
Equity share capital = Rs.20,00,000
Reserves and Surplus = Rs. 12,00,000
12% Debentures = Rs. 10,00,000
Bank Loan = Rs. 8,00,000
Current Liabilities = Rs. 5,00,000
Fixed Assets = Rs. 25,00,000
Goodwill = Rs. 4,00,000
Current Assets = Rs. 18,00,000
2.
Calculate Fixed Assets turnover ratio
Cost of goods sold: Rs. 16,80,000
Gross profit = Rs. 5,60,000
Capital employed = Rs. 43,00,000
Working captial = Rs. 80,000
3.
Calculate Inventory Turnover Ratio
Sales = Rs.4,00,000 Average stock = Rs. 55,000 Gross Loss ratio = 10%
4.
A company has a current ratio of 4:1 and Quick ratio is 2.5;1. Assuming that the inventories are Rs 22500, find out total current assets and current liabilities.
5.
From bthe following information, prepare a Common-size Statement of Profit and Loss of Jayant Ltd.for the year ended 31.03.2012:
| Particulars | Note No. |
2011-12 Rs. |
|---|---|---|
|
INCOME |
|
|
|
Revenue from Operations |
25,38,000 |
|
| Other Incomes |
38,000 |
|
| Total income | 25,76,000 | |
|
EXPENSES |
|
|
|
Cost of Revenue from Operations |
14,00,000 |
|
| Other Expenses |
5,00,000 |
|
| Total Expenses | 19,00,000 | |
| Tax | 3,38,000 |
6.
From the information given below, prepare a Comparative Statement of Profit and Loss of X Ltd.;
| Particulars | Note No. | 2011-12 | 2010-11 |
|---|---|---|---|
|
Revenue from Operations |
|
120% of cost of Revenue from operations | 150 of cost of Revenue from Operations |
|
Cost of Revenue from Operations |
|
Rs15,00,000 |
Rs.10,00,000 |
|
Other Expenses |
|
10% of Gross profit |
5% of Gross profit |
| Income Tax | 30% | 30% |
7.
From the following statement of profit and loss of Fenox Ltd for the year ended 31st march,2015, prepare a comparative statement of profit and loss.
| Particulars | Note No | 2014-15(Rs) | 2013-14(Rs) |
|---|---|---|---|
| Revenue from Operations | 8.00,000 | 6,00,000 | |
| Other Incomes | 1,00,000 | 50,000 | |
| Expenses | 5,00,000 | 4,00,000 |
Rate of income tax was 40%
8.
Prepare Comparative and Common Size income statement form the following information for the year's enden march 31, 2008 and 2009.
| Particulars | 2008(Rs.) | 2009(Rs.) |
|---|---|---|
| 1. Net Sales | 8,00,000 | 10,00,000 |
| 2. Cost of Goods Sold | 60% of sales | 60% of sales |
| 3. Indirect Expenses | 10% of Gross Profit | 10% of Gross profit |
| 4. Income Tax rate | 5% | 60% |
9.
Inventory turnover ratio is also called
stock turnover ratio
current ratio
liquid ratio
debt turnover ratio
10.
The two basis measure of liquidity are
inventory turnover & current ratio
current ratio &liquid ratio
gross profit &operating ratio
current ratio &average collection period
11.
What are the tools of financial management
comparative statement
common size statement
Ratio statement
all of them
12.
Secured loans are
long term loan
short term loan
assets
current assets
13.
Reserve and surplus are comes in which head
non current liability
assets
fixed assets
shareholder funds
14.
What are the importance of financial statement
Disclosing accounting policies
information about activities of business affecting the society
report on stewarding function
all of them
15.
What are the objectives of financial statement
To provide information about economic resource
To provide information about cash flows
To judge effectiveness of management
All of them
1.
a) Debt Equity Ratio = Debt/Equity
Debt = 12% Debentures + Bank Loan
= 10,00,000 + 8,00,000
=18,00,000
Enquity = Equity share capital + Reserves abd Surplus
= 20,00,000 + 12,00,000
= Rs. 32,00,000
Debt/Equity = 18,00,000/32,00,000 = 0.56:1
b) Total Assets to Debt ratio = Total Assets/Long term Debt
Total Assets = Fixed assets + Goodwill + Current assets
= 25,00,000 + 4,00,000 + 18,00,000
=Rs 47,00,000
Long Term Debt = 12% Debentures + Bank Loan
= 18,00,000
Total Assets to Debt Ratio = 47,00,000/18,00,000 = 2.6:1
c) Proprietory Ratio = Equity/Total Assets
= 32,00,000/47,00,000 = 0.68 or 68%
2.
Fixed assets turnover ratio = Net sales/ Net fixed assets
Net sales = Cost of goods sold + Gross profit
= 16,80,000 + 5,60,000
= 22,40,000
Capital employed = Net fixed assets + Net working Capital
4,00,000 = Net Fixed assets + 80,000
Net Fixed assets = 3,20,000
Fixed assets turnover ratio = 22,40,000/3,20,000 = 7 times
3.
Inventory Turnover ratio = Cost of sales/Average stock
= 4,40,000/55,000 = 8 times
4.
Current ratio ---4:1
Quick ratio ---2.5:1
Inventory =4-2.5=1.5
If inventory is 1.5, then Current assets =4
If inventory = 22500, then current assets = 4X 22500/1.5 =60,000
Current Liabilities = 60,000/4 = Rs 15000.
5.
Percentage change : Revenue from Operations 100%, Other Income 5.29%, Cost of Revenue from Operatuions 55.16%, Other Expenses (19.70%),PBT 26.63%, Tax (13.32%),PAT 13.31%
6.
Percentage change : Revenue from Operations 20%; Cost of Revenue from Operations 50%; Other Expenses 20% and Others (43.16%) each
7.
Comparative Statements of profit and Losses
for the years ended 31st March, 2014 and 2015
| Particulars | Absolute Value | Change | ||
|---|---|---|---|---|
| 2013-14(Rs) | 2014-15(Rs) | Absolute Change (Increse or Decrease)(Rs) | Percentage Change (Incresae or Decrease)(%) | |
| I.Revenue from Operations | 6,00,000 | 8,00,000 | 2,00,000 | 33.33 |
| II.Other Income | 50,000 | 1,00,00 | 50,000 | 100 |
| III.Total Revenue(I+II) | 6,50,000 | 9,00,000 | 2,50,000 | 38.46 |
| IV.Expenses | 4,00,000 | 5,00,000 | 1,00,000 | 25 |
| V.Profit before Tax(III-Iv) | 2,50,000 | 4,00,000 | 1,50,000 | 60 |
| (-) Income Tax @ 40% | 1,00,000 | 1,60,000 | 60,000 | 60 |
| VI.Profit after Tax | 1,50,000 | 2,40,000 | 90,000 | 60 |
8.
| Particular | 2008 amount | 2009 amount | Change in amount | Change in Percentage |
|---|---|---|---|---|
| Net Sales | 8,00,000 | 10,00,000 | 2,00,000 | 25% |
| Less: C.O.G.S | 4,8,000 | 6,00,000 | 1,20,000 | 25% |
| Gross Profit | 3,20,000 | 4,00,000 | 80,000 | 25% |
| Less: Indirect Experenses | 32,000 | 40,000 | 8,000 | 25% |
| Operating Profit/PBT | 2,88,000 | 3,60,000 | 72,000 | 25% |
| Less: tax | 1,44,000 | 2,16,000 | 72,000 | 50% |
| Priofit after tax | 1,44,000 | 1,44,000 | __________ | __________ |
| Particular | 2008 amount | 2009 amount | Percentage of Net Sales in P.Y | Percentage Net Sales in C.Y |
|---|---|---|---|---|
| Net Sales | 8,00,000 | 10,00,000 | 100% | 100% |
| Less: C.O.G.S | 4,8,000 | 6,00,000 | 60% | 60% |
| Gross Profit | 3,20,000 | 4,00,000 | 40% | 25% |
| Less: Indirect Experenses | 32,000 | 40,000 | 4% | 25% |
| Operating Profit/PBT | 2,88,000 | 3,60,000 | 36% | 25% |
| Less: tax | 1,44,000 | 2,16,000 | 18% | 50% |
| Priofit after tax | 1,44,000 | 1,44,000 | 18% | 14.4% |
9.
(a)
stock turnover ratio
10.
(b)
current ratio &liquid ratio
11.
(d)
all of them
12.
(a)
long term loan
13.
(d)
shareholder funds
14.
(c)
report on stewarding function
15.
(d)
All of them
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