Sunday, January 27, 2019

AHSEC CLASS 12: ACCOUNTANCY QUESTION PAPER ANALYSIS AND QUESTION BANK FOR FEB' 2019 EXAM


AHSEC – CLASS 12: ACCOUNTANCY THEORY OR PRACTICAL PARTITION
Theoretical and Practical Questions (Distribution of marks including optional Questions)

Year
Theory
Practical
Total Marks
2012
100
57
157
2013
59
76
135
2014
54
65
119
2015
72
70
142
2016
87
84
171
2017
88
74
162
2018
89
68
157
Average
78
71
150

TOPICS TO BE COVERED – THEORY AND PRACTICAL
PRACTICAL (REFER DETAILED QUESTION BANK BELOW
THEORY
1. ACCOUNTING FOR NPO (RECEIPTS AND PAYMENTS A/C) – 5 MARKS
2. PARTNERSHIP BASICS (5+8)
Ø  P/L APPROPRIATION ACCOUNT
Ø  FINAL ACCOUNTS
3. RECONSTITUTION OF PARTNERSHIP  (5+5+8)
Ø  ADMISSION
Ø  RETIREMENT




Ø  DEATH
4. DISSOLUTIO OF PARTNERSHIP FIRMS (5 MARKS)
Ø  JOURNAL ENTRIES
Ø  PREPARATION OF REALISATION ACCOUNT
5. ACCOUNTING FOR SHARE CAPITAL (3+8)
Ø  FORFEITURE OF SHARES
Ø  JOURNAL ENTRIES, CASH BOOK AND BALANCE SHEET
5. ISSUE AND REDEMPTION OF DEBENTURES (8)
Ø  ISSUE OF DEBENTURES WITH REDEPTION OPTION
Ø  DISCOUNT/LOSS ON ISSUE OF DEBENTURES ACCOUNT
Ø  JOURNAL ENTRIES FOR ISSUE OF DEBENTURES
6. RATIO ANALYSIS (3+5)
Ø  CURRENT RATIO AND LIQUID RATIO
Ø  STOCK TURNOVER RATIO
7. CASH FLOW STATEMENT (5)
Ø  CASH FLOW FROM OPERATION ACTIVITIES
Ø  CASH FLOW FROM INVESTING AND FINANCING ACTIVITIES
8. VALUATION OF GOODWILL, CALCULATION OF RATIO
CHAPTERS WHICH MUST BE STUDIED
1.   NPO (7)
2.   FINANCIAL STATEMENTS (7)
3.   FINANCIAL STATEMENTS ANALYSIS (8)
4.   CASH FLOW STATEMENT (5)
5.   MCQ (8)

AHSEC – CLASS 12: ACCOUNTANCY QUESTION BANK
UNIT – 1: ACCOUNTING FOR NOT FOR PROFIT ORGANISATION (8 TO 10 MARKS)
2012
2013
2014
2015
2016
2017
2018
1+1+3+5
1+1+5
1+2+5
2+3+5
2+3+5
2+3+5
1+2+5
Theoretical Questions (1+2+5 Marks)
1.       What is NPO (16)? Mention five features of a Non Trading Organization with examples (15,16,18). Mention the financial statements prepared by NPO.




2.       What is receipts and payments account? Mention five features of Receipts and Payments Account (12, 16,17).
3.       What is Income and expenditure account (18)? Mention five features of Income and Expenditure account.
4.       Give five points of distinction between Receipts and Payments Account and an Income and Expenditure Account. (Features can be expressed as differences)     08,16,17
5.       Write objectives (07,15) and limitations(10) of preparation of Receipts and Payments Account.
6.       What is fund based (16,17) and non-fund based accounting? Distinguish between them (16,18).      
7.       What is capital fund(11,14,16,17), deferred revenue expenditure(10) and incidental trading activities?
8.       Mention the steps involved in preparation of Receipts and Payments Account.                          18
9.       Mention the steps involved in preparation of Income & Expenditure Account.
10.   How following items are treated at the time of preparing Income and Expenditure Account - Sale of old fixed assets, Legacy, Sale of sports materials, Sale of old news papers, Entrance Fees, endowment fund, general and specific donation.

1. Calculation of Subscription Income, CALCULATION OF MATERIAL CONSUMED, CALCULATION OF DEPRECIATION AND CALCULATION OF SUBSCRIPTION INCOME IN CASE OF NPO              2012
2. Income and Expenditure Account       2014, 2016, 2018
3. Receipts and Payments Account          2011, 2013, 2015, 2017




Unit – 2: Accounting for Partnership Firms – Basics (1+5+8)
2012
2013
2014
2015
2016
2017
2018
2+5+8
1+1+5+8
1+2+2+5+8
1+1+2+8
1+1+1+8
1+2+8
1+1+5+8
Theoretical Questions (1+5 Marks)
Q.1. Define Partnership, Partner and Firm. What are its features?             Each 2 marks only
Q.2. Mention two rights and Liabilities of Partners.           2009, 2014




Q.3. What is Partnership Deed (1999, 2003, 2007, 2009, 2014, 2018)? What are its contents?
Q.4. Mention the rules to be followed in the absence of partnership deed.          One MCQ is expected. 2000, 2002, 2009, 2011, 2014
Q.4. Distinguish between fixed and fluctuating capital. Mention the circumstances where fixed capital is changed. 2018
Q.5. What is profit and loss appropriation account? Why it is prepared. Mention the adjustment entries for p/l appropriation account (2012).   
Q.6. What do you mean by guarantee of profit, current account of partners, JLP and Hidden goodwill?   2Marks each
Q.7. What is a Joint Venture? State four points of similarities and distinction between Joint Venture and a partnership.
Q. 8. Mention the circumstances where partner’s capital account does not show a debit balance in spite of regular loss.

1. Final Accounts ASKED EVERY YEAR: (TIME CONSUMING QUESTION – ATTEMPT LAST)
2. Preparation of Profit and Loss Appropriation Account               2010, 2013
3. Calculation of Interest on Capital (2016), Calculation of Partner’s Commission,

Valuation of Goodwill (3 MARKS)
Theoretical Questions (3 Marks)
Q.1. What is Goodwill? Explain its nature.             2017
Q.2. Why Goodwill is valued? Mention the situation when valuation of goodwill become necessary.        2009,2012
Q.3. What is Hidden goodwill? Mention the factors affecting goodwill of a Partnership Firms.      2 Marks each
Q.4. Explain three methods for valuation of goodwill.                     2008, 2013, 2015, 2017 (3 Marks)
Q.5. What are various types of goodwill?
OR
CALCULATION OF GOODWILL – AVERAGE PROFIT/ SUPER PROFIT/ CAPITALISATION METHOD

Unit -3: Admission, Retirement and Death of a Partner (20 MARKS)
Theoretical Questions (15 Marks)
Q.1. What do you mean by “reconstitution of a firm”? Mention the situations when such reconstitution of firm takes place.                2012
Q.2. Why a new partner is admitted? Mention its right.
Q.3. What is sacrificing and gaining ratio? Distinguish between them. 2008, 2010, 2012, 2013, 2015
Q.4. Why assets and liabilities are valued? Mention the circumstances when a revaluation of assets and liabilities becomes necessary.                        2013
Q.5. What is revaluation account? Distinguish between Revaluation account and Memorandum Revaluation account. Pass necessary revaluation entries.
Q.6. What do you mean by retirement of a partner? Why a partner is retired? Mention two methods for retirement.                2013, 2016, 2017
Q.7. How the amount due to retiring partner is calculated?                        2017
Q.8. How the amount due to executor’s of deceased is calculated?          2014, 2016
Q.9. Mention the provisions of Sec.37 in case of death of a partner.
Q.10. How the profit upto date of death of a partner is calculated?                         2014
Q.11. Define in two lines: Hidden goodwill, super profit, memorandum revaluation account, Joint life policy, Surrender value.                   2007, 2009, 2013, 2014

Practical Questions (2+5+8=15 Marks) - 



1. CALCULATION OF NEW RATIO, SACRIFICE AND GAINING RATIO
2. TREATMENT OF GOODWILL IN CASE OF ADMISSION (2012, 2014) & RETIREMENT/Death (2014)
3. REVALUATION ACCOUNT: 2013
4. CALCULATION OF DECEASED PARTNER’S SHARE OF PROFIT: 2013, 2014, 2015, 2016, 2017, 2018
5. PREPARATION OF B/S IN CASE OF:
ADMISSION: 2015, 2016, 2017, 2018
RETIREMENT: 2012, 2013, 2015, 2016, 2017, 2018

Unit – 4: Dissolution of partnership (1+5 MARKS)
2012
2013
2014
2015
2016
2017
2018
1+1+8
1+2
1+3+8
1+1+5
5
1+1+5
1+5
Theoretical Questions




Q.1. What is dissolution of partnership and dissolution of partnership firms? Distinguish between them. 2012, 2015, 2018
Q.2. What is realisation account? Distinguish between realisation and revaluation account.           2017
Q.3. How Accounts are settled in case of dissolution of partnership?                       2015
Q.4. Mention various modes for dissolution of partnership:         2011, 2014, 2016
a)      Compulsory dissolution         2010
b)      Dissolution of partnership at will
c)       Dissolution by the court        2013, 2014          
d)      Dissolution on the happening of certain events

JOURNAL ENTRIES: 2012 (8), 2014 (8), 2015 (5), 2017 (5)
PREPARATION OF REALISATION ACCOUNT: 2016 (5), 2018 (5)

Unit -5: Issue of shares and share capital (2+5+8 MARKS)
2012
2013
2014
2015
2016
2017
2018
1+1+5+8
1+1+3+8
1+1+2+3+5+8
1+2+3+4+8
2+2+5+8
2+5+8
2+2+5+8
Theoretical Questions (15 Marks)
Q.1. What is a Joint Stock Company? Mention their four features. Write two advantages and disadvantages of Joint stock company.
Q.2. What are various types of shares?  Mention three important features of each. Distinguish between equity shares and preference shares(2012).                             1999, 2000, 2016, 2017
Q.3. What do you mean by issue of shares at a premium? Mention the purposes for which securities premium can be utilized.                                2003, 08, 12, 13
Q.4. What do you mean by issue of shares at a discount? What are the conditions for issue of shares at a discount?                2003, 2014
Q.5. Mention 5 statutory books and statistical books of a company.                         2014
Q.6. What do you mean by “Forfeiture of Shares” and “Re-issue of forfeited shares? Discuss the procedure of forfeiture of shares. 2012, 2015, 2016, 2018
Q.7. What are various types of capital? Explain them briefly.        2014
Q.8. What are various types of companies?
Q.9. Distinguish between:
Ø  Partnership and Joint Stock Company
Ø  Public Company and Private Company
Ø  Capital reserve and reserve capital                  2017
Q.10. Define in two line: Minimum subscription, over-subscription and under- subscription, Issue of shares for consideration other than cash, preliminary expenses, Buy back of shares, issue of shares at par – at premium and at discount, Sweat Equity Shares.
Q.11. What are various types of preference shares?

FORFEITURE AND REISSUE OF FORFEITED SHARES: 2013, 2014, 2015, 2016, 2017
ISSUE OF SHARES – PREPARATION OF CASH BOOK AND BS: 2012, 2013, 2014, 2015, 2016, 2017, 2018 including forfeiture

Unit – 6: Issue and Redemption of Debentures (2+8 MARKS)
2012
2013
2014
2015
2016
2017
2018
2+3+5+5
1+3+5+8
1+2+3+5+8
2+8
1+8
2+5+8
2+8
Theoretical Questions (2+8 = 10 Marks)
Q.1. What is debentures? Mention its  features (2017). Write three advantages and disadvantages of it.  2007, 2013, 2015, 2017, 2018
Q.2. Mention various types of Debentures.        2018
Q.3. What do you mean by “issue of debentures as collateral security”? Explain its accounting treatment.
Q.4. Distinguish between Shares and Debentures.  2002, 2004, 2006, 2008, 2010, 2012, 2014, 2016, 2017, 2018
Q.5. What do you mean by “Discount on issue of shares” and “Loss on issue of debentures”? Explain their treatment. 2012, 2013, 2014
Q.6. What do you mean by Redemption of debentures? Explain its sources and various methods for redemption of debentures.  2012, 2014, 2015, 2017
Q.7. What do you mean by purchasing own debentures in open market? Explain its accounting treatment.

1. PREPARATION OF DISCOUNT/LOSS ON ISSUE OF DEBENTURES ACCOUNT
2. ISSUE AND REDEMPTION OF DEBENTURES - ISSUE OF DEBENTURES FOR CASH, ISSUE WITH REDEMPTION OPTION, ISSUE OF DEBENTURES FOR CONSIDERATION OTHER THAN  CASH, CONVERSION

Unit -7: Financial Statement and Financial Statement analysis (1+3+3+3+5 MARKS)
Theoretical Questions (15 MARKS – MOST IMPORTANT CHAPTERS FOR THEORY)
Q. 1. What are financial statements (2016,2017)? What constitute financial statements (2016)? What are its essential features (2012, 2018)?
Q.2. Mention the objectives of financial statements(2)? List out the external and internal users of financial statement and financial statement analysis.
Q.3. What are uses and importance of financial statements (2012, 2013, 2015, 2016)? Mention five limitations of financial statements (2017, 2018).
Q.4. What is financial statements analysis? Discuss its objectives/significance/importance(2015,2016,2018) and limitations. (5 points only) 2012, 2013, 2016
Q.5. What are various types of financial analysis? Mention them.                              2012
Q.6. What are various tools and techniques of financial analysis with their respective merits and demerits (2 points only)?
Comparative Statements: 2016, 2018
Common size and: 2015, 2017, 2018
Trend analysis: 2014, 2017
Q.7. What is contingent liabilities? Give some examples.                               2013
Q.8. Draft a format of Company’s Balance sheet and Income Statement. (Major headings and their elements)
Q.9. Distinguish between Company’s Balance sheet and Partnership firm’s balance sheet.           2015
Q.10. What are the various information provided by financial statements?

Unit -8: Ratio Analysis (3+5 MARKS)
Theoretical Questions (5 Marks)
Q.1. What is ratio analysis? What are its objectives?         2012, 2018
Q.2. Explain the importance and limitations of Ratio analysis.
Q.3. Mention various types of accounting ratios. Give some examples of Liquidity Ratios, Solvency Ratios, Activity (Turnover) Ratios and Profitability Ratios.                             2016, 2017
Q.4. What is short term and long term solvency ratio?

1. CALCULATION OF CURRENT AND LIQUID RATIO:           2013, 2014, 2015, 2016, 2017, 2017, 2018
2. STOCK TURNOVER RATIO: 2015, 2016, 2018

Unit -9: Cash Flow Statement (5 MARKS – THEORY OR PRACTICAL)
Theoretical Questions (5 Marks)
Q.1. What is Cash flow statement according to AS - 3? What are its need and objectives? 2012, 2013, 2015, 2016, 2017
Q.2. Mention five advantages and limitations of cash flow statement.                    2016
Q.3. Define and Mention five examples of cash flow from operating activities, investing activities and financing activities.                2013, 2016, 2017
Q.4. Mention some features of cash flow statement.
OR
CALCULATION OF CASH FLOW FROM OPERATING ACTIVITIES (DIRECT METHOD):             2012
CALCULATION OF CASH FLOW FROM OPERATING ACTIVITIES (INDIRECT):            2014, 2015, 2018
CALCULATION OF CASH FLOW FROM INVESTING ACTIVITIES AND:           2016, 2017
CALCULATION OF CASH FLOW FROM FINANCING ACTIVITIES:                    2016

2 comments:

  1. It's really good and its help me alot

    ReplyDelete
  2. Sir mujhe accountancy class 12 2003 ka question solved paper chahiye

    ReplyDelete

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