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NLCS School Class XII Previous Year Question Papers :

School Name : New Look Central School (NLCS)
Exam : Summative Assessment (SA), Half Yearly Exam, Annual Exam
Subjects : Accountancy, Physics, English, Biology, Chemistry, Physical Ed., Economics, Computer , Maths, Business St., Political Science, Fine Arts
Class : XII
Years : 2014-15, 2015-16, 2016-17, 2017-18, 2018-19, 2019-20
Document Type : Previous Year Question Paper
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NLCS Class XII Exam Question Paper

New Look Central School Class XII Previous Year Question Paper

Half Yearly Exam Question Paper

Year : 2019-20
Subject : Accountancy

Q1- Which statements are included in final accounts of Not For Profit Organization
A. Income and Expenditure Account B. Balance Sheet C. Receipts and Payment Account D. A and B

Q2- If there is a Match Fund then Match Expanses and Match Income are transferred to
A. Income and expenditure A/c B. Assets side C. Liabilities side D. Both Income and Expenditure and Balance sheet

Q3- Which of the following items are added to previous year profit for finding for goodwill valuation
(a)Loss due to fire (b)Loss due to sale of investment (c)Loss on sale of fixed assets (d)All of the above

Q4- Which making and adjustment entry in respect of interest on capital, credit is made to
(a) Capital account (b) Interest on capital account (c) Profit and loss account (d) Interest account

Q5- A partner acts as—————for a firm.
(a) Employee (b) Employer(c) Agent(d) Third party

Q6- Normally, the partners are entitled to ———–interest on their capitals.
(a) 6%, only if there are profits,
(b) 9%, only when there are profits
(c) Bank rate of: regardless of profits or loses
(d) No: regardless of profit or losses

Q7- Mr. A and Mr. B started Business on 1st April 2006. Calculate the Interest on Drawing of Mr. B @ 10% p.a. for the year ended 31st Dec. 2006 if he withdrew Rs. 3,600 p.m. at the end of every quarter.
(a) Rs. 270 (b) Rs. 405 (c) Rs. 450 (d) Rs. 540

Q8- A,B and C were partners in a firm sharing profits in the ratio of 8:4:3, B retires and his share is taken up equally by A and B. Find the new profit sharing ratio :
A. 1:2 B. 2:1 C. 3:2 D None of these

Q9- A B and C are partners sharing profits equally. A retires and goodwill appearing in the books at Rs 3,000 is valued at 6,000. A will get credit of
A. 2,000 B. 3,000 C 500 D. 1,000

Q10 The amount due to the deceased partner is paid to his
A. Father B. Friends C. Wife D. Executors

Q11- At the time of dissolution of the firm, loan from partner is
A. transferred to Realization Account B. not transferred to Realization Account C. transferred to the Partners Capital Account D. None of these

Q12- Revenue from sale of Stock in Trade is shown in the Statement of Profit and Loss A\c
A;. Revenue from Operations B. Other Income C. Any of the above D. None of the above

Q13- What is the ideal Quick Ratio
A. 2:1 B. 1:1 C. 1:2 D. 3:2

Q14- Which ratio measures the relationship between operation cost and sales
A. Operating Ratio B. Operating Profit Ratio C. Gross Profit Ratio D. None of these

Q15- Dividend received by other than financial enterprise is shown in Cash Flow Statement under
A. Operation activities B. Investing activities C. Financing activities D. All of these

Q16- Payment of Income Tax is classified as
A. Operation activities B. Investing activities C. Financing activities D. All of these

Q17- X and Y are partners in a firm with capital of Rs 18,000 and Rs 20,000. Z was admitted for 1/3 share in profits and brings 24,000 as capital. Calculate the amount of goodwill A. 24,000 B. 20,000 C. 15,000 D. 10,000

Q18- Fluctuating Capital Account is credited with
A. Interest on Capital B. Profit of the year C. Remuneration to the partners D. all of these

Q19- R and S are partners sharing profits in the ratio of 5:3 T joins the firm. R gives 1/4 of his share and S gives, 1/5 of his share to the new partner. Find out new ratio
A. 75:48:37 B. 45:32:27 C. 13:7:4 D. None

Q20- 1,000 10% Debentures of 100 each out of 10,000, 10% Debentures are redeemable within the 12 months of the date of Balance sheet. They will be shown in the Current Liabilities as:
A. Short term Borrowings B. Other Current Liabilities C. Trade Payables D. Short term Provision

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