AHSEC CLASS 12: ACCOUNTANCY QUESTION PAPER ANALYSIS AND QUESTION BANK FOR MAY' 2021 EXAM (THEORY)

AHSEC Class 12 Important Questions
Accountancy Important Questions  and Question Paper Pattern

Pattern of Question Paper

No of Questions

Marks Per Questions

Total

8

1

8

5

2

10

5

3

15

7

5

35

4

8

32

Total Marks

100

Theoretical and Practical Questions (Distribution of marks including optional Questions)

Year

Theory

Practical

Total Marks

2012

92

57

149

2013

59

76

135

2014

54

65

119

2015

72

70

142

2016

87

84

171

2017

88

74

162

2018

89

68

157

2019

89

75

167

2020

89

75

164

Average

80

72

153

Chapter wise Important Questions (Theory)

Unit – 1: Accounting for Not For Profit Organisation (1+2+5)

Q.1. What is Profit motive and Not-For-Profit Organisation? What are its features? 2007, 2008, 2015, 2016, 2020

Q.2. What are various types of NPOs? Distinguish between not-for-profit organisation and profit motive organisation?         2019

Q.3. What are various types of financial statements prepared by NPOs? Explain cash and accrual basis of accounts.

Q.4. What do you mean by Receipts and Payments Account? What are its features? Mention its merits and limitations.        99, 05, 09

Q.5. What do you mean by Income and Expenditure Account? What are its features? Distinguish between Receipts and Payments and Income and Expenditure Accounts?          99, 03, 08, 2016, 2017, 2018, 2019, 2020

Q.6. Explain the Treatment of the following Specific items in Receipts and Payments and Income and Expenditure accounts.                             2019

Q.7. What is Deferred Revenue Expenditure? What are its features? Give Examples.  2010

Q.8. What is Capital fund?                           2011, 2014, 2017

Q.9. What are incidental trading activities?

Q.10. What is fund based accounting and non-fund based accounting? What are various principles of fund based accounting? Distinguish between fund based and non-fund based accounting.      2016, 2017, 2020

Q.11. What are various types of fund created by not-for profit organisation?

Q.12. Mention the steps involved in preparation of Income and Expenditure account (2018) and Receipts and Payments account.               2018

Q.13. Mention the steps involved in preparation of Balance sheet of an NPO.

ACCOUNTING FOR NOT FOR PROFIT ORGANISATION (5 MARKS)

1. Calculation of Subscription Income, CALCULATION OF MATERIAL CONSUMED, CALCULATION OF DEPRECIATION AND CALCULATION OF SUBSCRIPTION INCOME IN CASE OF NPO         2012, 2019, 2020

2. Income and Expenditure Account       2014, 2016, 2018, 2020

3. Receipts and Payments Account          2011, 2013, 2015, 2017, 2019 

Unit – 2: Accounting For Partnership Firms (1+3+5+8)

Q.1. Define the term “Partnership”, Partners, Firm and Firm name. What are essentials of partnership?

Q.2. What is Partnership Deed? What are its contents?                                1999, 2003, 2007, 2009, 2014, 2018, 2019

Q.3. What are the rules to be followed in the absence of Partnership agreement between partners? 2000, 2002, 2009, 2011, 2014

Q.4. Mention three Rights and Duties of Partners.           2009, 2014

Q.5. What are various types of partners and partnership?

Q.6. What is Profit and Loss appropriation Account? Mention its purpose and features. Distinguish between profit and loss account and profit and loss appropriation account.                                2020

Q.7. What is fixed and fluctuating capital? Distinguish between them.  2007, 2020

Q. 8. Mention the adjustment entries for P/L appropriation account.                     1999, 2003, 2012,

Q.9. What do you mean by Guarantee in Partnership and Past Adjustments?

Q.10. What is Joint Venture? Write two similarities and difference between Joint venture and Partnership.

Q.11. What do you mean by Goodwill? What are its various types? Why it is valued?   2017, 2019

Q.12. What are various characteristics of goodwill? What are the factors affecting the value of goodwill?

Q.13. Explain various methods for valuation of Goodwill.                            2008, 2013, 2015, 2017

BASICS OF PARTNERSHIP INCLUDING GOODWILL (8+5 MARKS)

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,

4. CALCULATION OF GOODWILL – AVERAGE PROFIT/ SUPER PROFIT/ CAPITALISATION METHOD

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ALSO READ (AHSEC ASSAM BOARD CLASS 12):

1. AHSEC CLASS 12 ACCOUNTANCY CHAPTERWISE NOTES

2. AHSEC CLASS 12 ACCOUNTANCY IMPORTANT QUESTION (THEORY)

3. AHSEC CLASS 12 ACCOUNTANCY IMPORTANT QUESTION BANK (PRACTICAL)

4. AHSEC CLASS 12 ACCOUNTANCY PAST EXAM PAPERS (FROM 2012 TILL DATE)

5. AHSEC CLASS 12 ACCOUNTANCY SOLVED QUESTION PAPERS (FROM 2012 TILL DATE)

6. AHSEC CLASS 12 ACCOUNTANCY CHAPTERWISE MCQS

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Unit – 3: Reconstitution of Partnership (Admission, Retirement and Death of a Partner)

Q.1. What do you mean by “Reconstitution of a Partnership”? Under what situations it takes place? Explain them.          2012

Q.2. What is revaluation and revaluation account? When and Why revaluation of Assets and Liabilities are done in Partnership Business?   2013

Q.3. What is Memorandum Revaluation Account? Distinguish between Revaluation and Memorandum revaluation account?

Q.4. What do you mean admission of a partner? Why a New Partner is admitted into Partnership? Also mention its effect.

Q.5. What is Sacrifice and Gaining Ratio? Distinguish between them.                    2008, 2010, 2012, 2013, 2015, 2020

Q.6. Define Hidden Goodwill and Joint Life Policy.                         2007, 2009, 2013, 2014

Q.7. What do you mean by retirement of partner? Mention the causes and effect of retirement of partner. How the amount due to retiring Partner is calculated?    2013, 2016, 2017

Q.8. Explain the liability of retiring partner. What adjustments are necessary at the time of admission, retirement or death of a partner?

Q.9. Explain the treatment of accumulated profits or losses at the time of reconstitution of the firm.

Q.10. How the amount due to the executor’s of Deceased Partner is calculated? Explain the provisions of Sec.37 of the Partnership Act regarding payment of the amount due to the executor’s of the deceased partner? 2014, 2016

Q.11. How deceased partner’s share of profit upto the date of death is calculated?                        2014

Q.11. What is Premium for Goodwill? Explain the treatment of goodwill at the time of admission of a new partner.

RECONSITUTION OF PARTNERSHIP (2+5+5+8)

1. CALCULATION OF NEW RATIO, SACRIFICE AND GAINING RATIO (Almost every year  including 2020)

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 AND HIS CAPITAL A/C: 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020

5. JOURNAL ENTRIES AND PREPARATION OF B/S IN CASE OF:

ADMISSION: 2015, 2016, 2017, 2018, 2019, 2020

RETIREMENT: 2012, 2013, 2015, 2016, 2017, 2018, 2019 (J), 2020 (L)

Unit – 4: Dissolution of Partnership Firms (1+2+5 or 8)

Q.1. What do you mean by Dissolution of Partnership and Dissolution of Partnership Firm? Distinguish between them.                                2012, 2015, 2018, 2020

Q.2. What are various mode of dissolution of a Partnership Firm? Explain them briefly.                 2011, 2014, 2016, 2019, 2020

Q.3. What is Realisation Account? Mention its objectives. Distinguish between realisation account and revaluation account.  2017, 2019

Q.4. What are unrecorded assets and unrecorded liabilities? Explain its treatment in realisation account.

Q.5. How are the accounts settled between partners on the dissolution of a partnership firm?                 2015

DISSOLUTION OF PARTNERSHIP (5 TO 8 MARKS)

1. JOURNAL ENTRIES: 2012 (8), 2014 (8), 2015 (5), 2017 (5), 2019 (5)

2. PREPARATION OF REALISATION ACCOUNT + OTHER LEDGERS: 2016 (5), 2018 (5), 2020 (5)

Unit – 5: Accounting for Share Capital (2+5+8)

Q.1. Define the term Company. Mention its features.   2001, 2009

Q.2. What do you mean by shares? What are its various types? Explain them.   1999, 2000, 2016, 2017, 2020

Q.3. Distinguish between the following:

(a) Partnership Firm and Joint Stock Company

(b) Equity Shares and Preference Shares 1999, 2005, 2009, 2012

(c) Shares and Debentures 2002, 2004, 2006, 2008, 2010, 2012, 2014, 2016, 2017, 2018, 2020

(d) Shares and Stock

(e) Difference between Private company and Public company

Q.4. What is Share Capital? Mention its various categories.        2014, 2019

Q.5. What are the various purposes for which Securities Premium can be utilised? 2003, 08, 12, 13, 2020

Q.6. Can a company issue shares at discount? If yes, under what conditions?                     2003, 2014

Q. 7. What is Reserve Capital and Capital Reserve? Distinguish between them.                                2017, 2018

Q.8. What Statutory and Statistical Books? Give examples of such books.                            2004, 2008, 2014

Q.9. What do you mean by forfeiture of shares and re-issue of shares? How shares are forfeited and re-issued? 2012, 2015, 2016, 2018, 2019

Q.10. Briefly explain various types of company.

Q.11. Explain the concept of issue of shares at par, at a premium and at a discounted price.                       2017

Q. 12. Write short notes on:                                                                       2016

1. Right Issue:

2. Calls-in-Arrears:                          2018, 2019

3. Calls-in-Advance: 2018, 2020

4. Minimum Subscription            2017, 2019

5. Oversubscription and Pro-rata allotment:              2018, 2019, 2020

6. Under subscription:                   2018, 2020

7. Sweat Equity Shares:

8. Issue of Shares in consideration other than cash:

9. Preliminary Expenses:           2017

10. Bonus shares:

11. Buy-back of shares:

12. Employees stock option plan (ESOP):

13. Methods of raising capital:

ACCOUNTING FOR SHARE CAPITAL (3+8= 11 MARKS)

1. FORFEITURE AND REISSUE OF FORFEITED SHARES: 2013, 2014, 2015, 2016, 2017

2. ISSUE OF SHARES – PREPARATION OF CASH BOOK AND BS: 2012, 2013, 2014, 2015, 2016, 2017, 2018 including forfeiture, 2019, 2020

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ALSO READ (AHSEC ASSAM BOARD CLASS 12):

1. AHSEC CLASS 12 ACCOUNTANCY CHAPTERWISE NOTES

2. AHSEC CLASS 12 ACCOUNTANCY IMPORTANT QUESTION (THEORY)

3. AHSEC CLASS 12 ACCOUNTANCY IMPORTANT QUESTION BANK (PRACTICAL)

4. AHSEC CLASS 12 ACCOUNTANCY PAST EXAM PAPERS (FROM 2012 TILL DATE)

5. AHSEC CLASS 12 ACCOUNTANCY SOLVED QUESTION PAPERS (FROM 2012 TILL DATE)

6. AHSEC CLASS 12 ACCOUNTANCY CHAPTERWISE MCQS

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Unit – 6: Accounting for Debentures (Issue and Redemption)(2+8)

Q.1. What do you mean by “Debentures” and “Bonds”? Mention its features. What are its advantages and disadvantages? 2007, 2013, 2015, 2017, 2018

Q.2. What are various Types of Debentures? Explain them briefly.                                          2018

Q.3. What do you mean by Issue of Debenture as Collateral Security? Explain its accounting treatment.

Q.4. What do you mean by Redemption of Debentures? Explain its sources and Methods.  2012, 14, 15, 17, 19, 00 

Q.5. What do you mean by “Discount on Issue of Debenture” and “Loss on Issue of Debenture”? Explain its treatment.                2012, 2013, 2014, 2019

Q.6. What is Sinking Fund? Why and How it is created?                                2013

Q.7. What is Debenture Trust Deed and Zero coupon bonds/Debentures?

Q.8. Explain the provisions of Debenture Redemption Reserve (DRR) according to the Indian Companies Act, 2013.

Q.9. What are various terms for issue and redemption of debentures?

ISSUE AND REDEMPTION OF DEBENTURES

1. PREPARATION OF DISCOUNT/LOSS ON ISSUE OF DEBENTURES ACCOUNT

2. ISSUE AND REDEMPTION OF DEBENTURES –

a)      ISSUE OF DEBENTURES FOR CASH

b)     ISSUE WITH REDEMPTION OPTION (EVERY YEAR)

c)      ISSUE OF DEBENTURES FOR CONSIDERATION OTHER THAN  CASH

d)     CONVERSION OF DEBENTURES

Unit – 7: Financial Statements of a Company (1+3+3)

Q.1. Explain the term “Financial Statements”. What are its Ideal Characteristics?    2012, 16, 17, 19

Q.2. What are various types of financial statements? Explain them.                       2016

Q.3. Draft a Format of Revised Balance Sheet of a Company and Statement of Profit and Loss.   (MOST IMPORTANT PART)                                2012, 2013, 2014, 2015, 2016, 2017, 2018, 2020

Q.4. Explain the purpose of preparing various types of financial statements.                     2019, 2020

Q.5. Who are the users of Financial Statement? What types of information provided by it? Explain its importance and limitations.                        2012, 2013, 2015, 2016

Q.7. What are contingent liabilities? Mention two items included under this head?      2013, 2019

Q.6. Difference between Balance Sheet of a Company and Balance sheet of a Partnership Firm. 2015 

Unit – 8: Analysis of Financial Statements (3+5)

Q.1. What is financial analysis? What are its significance and Limitations (5 Points)?      2012, 2013, 2016

Q.2. What are various types of Financial Analysis?                          2012

Q.3. Who are the parties interested in financial analysis?

Q.4. What are various tools of Financial Analysis? Explain them with their respective merits and limitations.

a)      Comparative balance sheets and income statements                              2016, 2018, 2019

b)      Common size statements,                                   2015, 2017, 2018, 2020

c)       Trend analysis,                                                          2014, 2017

d)      Ratio analysis,

e)      Cash flow analysis.

Q.5. What is window dressing of financial statements? How does it affect the analysis of financial statements?

FINANCIAL STATEMENTS AND ITS ANALYSIS (5+5)

a)      Format of Company’s balance sheet

b)     Comparative Statements            2012, 2019

c)      Common size Statement 2020

d)     Trend analysis

Unit – 9: Ratio Analysis (3+5)

Q.N.1. what do you mean by ratio analysis? What are the objectives and advantages of such analysis? Also point out the limitations of ratio analysis.                       2012, 2012, 2018, 2020

Q.N.2. What are the types of Ratios according to traditional classification?                         2016, 2017

Q.N.3. Explain the meaning and method of calculation of some specific ratios.

a) Current Ratio:

b) Liquid Ratio:

c) Gross Profit Ratio: 2019

d) Net Profit Ratio:

e) Operating Profit Ratio: 2019

f) Operating Ratio:

g) Return on Investment or Return on Capital Employed:

h) Return on Equity:

i) Earnings Per Share:

j) Price-earning Ratio:

k) Debt-Equity Ratio:

l) Proprietary Ratio:

m) Capital Turnover Ratio:

n) Fixed Assets Turnover Ratio:

o) Working Capital Turnover Ratio:

p) Stock Turnover Ratio:

q) Debtors’ Turnover Ratio:

r) Debt Collection Period:

s) Creditor’ Turnover Ratio:

t) Average Payment Period:

RATIO ANALYSIS (3 TO 8 MARKS)

1. CALCULATION OF CURRENT AND LIQUID RATIO:           2013, 2014, 2015, 2016, 2017, 2017, 2018, 2019, 2020

2. STOCK TURNOVER RATIO: 2015, 2016, 2018, 2019, 2020

Unit – 10: Cash Flow Statement (5)

Q.1. What is Cash Flow Statement? What are its objectives? Mention its uses and Limitations.                2012, 13, 15, 16, 17, 19, 20

Q.2. How cash flow statement is prepared? Or What are various classification of Cash flows? Give four examples of each.                                2013, 2017, 2018

CASH FLOW STATEMENT (5 MARKS)

1. CALCULATION OF CASH FLOW FROM OPERATING ACTIVITIES (DIRECT METHOD):             2012

2. CALCULATION OF CASH FLOW FROM OPERATING ACTIVITIES (INDIRECT):            2014, 2015, 2018, 2019, 2020

3. CALCULATION OF CASH FLOW FROM INVESTING ACTIVITIES:           2016, 2017

4. CALCULATION OF CASH FLOW FROM FINANCING ACTIVITIES:                    2016


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