ICSE Class XII Accounts Question Paper 2022 : cisce.org
Organisation : Council For The Indian School Certificate Examinations
Class : Class XII
Document Type : Specimen Question Paper
Subject : Accounts
Semester : 1 And 2
Year : 2022
Website : https://cisce.org/publications.aspx
ICSE Class XII Accounts Question Paper
Council For The Indian School Certificate Examinations (ICSE) Class XII Accounts Specimen Question Papers Semester 1 and 2 for the year 2022.
Related / Similar Question Paper : ICSE Class XII Commerce Question Paper 2022
ICSE Class XII Accounts Questions
Question 1
Pick the odd one out from the following
(a) Interest allowed on a loan taken by the firm from a partner
(b) Rent due to a partner of the firm for using his premises for business purposes
(c) Salary due to the manager of the firm
(d) Salary due to a partner of the firm
Question 2
If the operating cycle of a company cannot be identified, it is assumed to be
(a) 18 months
(b) 12 months
(c) 10 months
(d) 15 months
Question 3
Which of the following is not shown as a Current Liability in the Balance Sheet of a company prepared as per Schedule III of the Companies Act, 2013?
(a) Trade Payable
(b) Short term Borrowings
(c) Deferred Tax Liabilities
(d) Short term Provisions
Question 4
The Interest on Calls-in-arrears Account is closed by
(a) Crediting it to Statement of Profit & Loss
(b) Crediting it to Profit & Loss Appropriation Account
(c) Debiting it to Profit & Loss Appropriation Account
(d) Debiting it to Statement of Profit & Loss
Question 5
The formula for valuing goodwill under the Capitalisation of Super Profits method is
(a) Super profit made by the firm multiplied by the normal rate of return
(b) Capital Employed by the firm multiplied by the normal rate of return
(c) Capitalised profit of the firm divided by the rate of return
(d) Super profit made by the firm divided by the normal rate of return
Question 6
Ronaldo Ltd. forfeited 300 equity shares of ₹ 10 each, fully called up, on which ₹ 5 per share (including premium of ₹ 1 per share) was received. It later reissued these shares at a discount. The maximum discount per share, which the company could have given on their reissue would be
(a) ₹ 6 per share
(b) ₹ 5 per share
(c) ₹ 4 per share
(d) ₹ 3 per share
Question 7
Veena and Soma are partners in a firm. They admit Sara on 1st April, 2020, for 1 4⁄ share in the profits of the firm. Sara acquired her share as 1 12⁄ from Veena and the remaining from Soma.The sacrificing ratio of the old partners will be
(a) 11:12
(b) 1:1
(c) 1:2
(d) 1:11
Question 8
Arif, Ravi and Ben are partners in a firm sharing profits and losses in the ratio of 6:4:1. Arif guaranteed a minimum profit of ₹ 16,000 to Ben. The trading profit of the firm for the year ending 31st March, 2021, was ₹ 1,32,000. Arifs share in the profits of the firm will be
(a) ₹ 72,000
(b) ₹ 68,000
(c) ₹ 69,600
(d) ₹ 16,000
Download ICSE Class XII Accounts Question Paper
Download ICSE Accounts Semester – 1 Class XII Question Paper Here :
https://www.pdfquestion.in/uploads/pdf2022/2acc1sem1.pdf
Download ICSE Accounts Semester – 2 Class XII Question Paper Here :
https://www.pdfquestion.in/uploads/pdf2022/2acc1sem2.pdf