Most Important Questions Class 12th Business Studies Chapter wise.

Most important questions for 12th Board Exams 2024 - 25. Subject: Business Studies.

CHAPTER. 1.

1.What is Management?

2.Write four characteristics of management

3.Discuss importance of Management.

4.What it  meant by Top level management ?Give any of  its 3 functions.

5.What is meant by Middle level managements? write its functions. 

6.What is meant by Lower Level or supervisory level of  Management ? write its function.

7. Discuss in brief the primary function of management.

8.Write importance of coordination.

CHAPTER. 2

1.Write meaning and  characteristics & Principles of Management. 

2.Discuss principle of management advocated by Henry fayol.

3.Meaning and objective of scientific principle & Management. 

4.State Principles/Technique of scientific management formulated F.W Taylor.

5. Similaritie between principles of Taylor & Fayol

CHAPTER.  3

1.What is Business Environment?

2. What is Economic Environment?

3.What do you mean by Political Environment?

4.What in social Environment?

5.What is Legal environment?

6. What is  Technological environment?

7. Give meaning of  Globalisation ,l iberalisation, and Privatisation.

CHAPTER. 4

1.What do you mean by planning,? Write its characteristics.

2.Write Importance and limitation of Planning.

3. Write characteristics of Good Planning.

4. Differential b/w objective and Policy or Rules and Method or rules and Policies.

5.Discuss the process of planning.

CHAPTER. 5

1. What do you mean by organisation? Write importance of organisation.

2. What is organisational structure?

3.What is Functional Structure or organisation? Write its advantage.

4.What is Divisional structure of organisation? Write its advantage. 

5. Differentiate between functional and Divisional organisation. 

6. Give meaning of formal Organisation? Write its advantage and disadvantages.

7. What do you mean by Informal organisation? Write its advantage/ disadvantage. 

8. Delegation of Authority its meaning and Importance.

9. Give meaning of decentralisation. 

10.  Differentiate b/w Delegation & Authority and Decentralisation. 

CHAPTER. 6

1. Give meaning of  staffing? Write its advantages.

2. What are Internal sourceof recruitment ? Discuss various sources Of internal recruitment .

3. Describe main external sources of recruitment.

4. Discuss selection process.

5. what is ‘on the job  and 'Off the job training’?

6. Explain following methods of on the job training :-

I. Job rotation (ii). Apprenticeship 

(iii) Internship. 

7. What is vestibule training?

CHAPTER. 7

1.  Write the principles of directing.

2.  What is financial or monetary incentive?  Discuss Various monetary incentives. 

3. What is non financial motivation? discuss various non financial motivation.

4. Differentiate between monetary and non monetary motivation. 

5. Write main characteristics and importance of communication.

6. Differentiate Between formal and informal communication. 

7. Explain quality of good leader.

CHAPTER.  8

1. Write importance of controlling?

2.  Discuss controlling process.

3. Write characteristics of controlling .

4. State 4 limitations of controlling

5. Write techniques of controlling.

CHAPTER. 9

1. What is financial management ?Write its objective.

2. Describe various type of financial decision :-

a. Investment decision  b. Financing decision

c. Dividend decision 

3. Write 4 factors affecting investment decision ,financing decision and dividend decision

4. Write 4 factors affecting the requirement  of fixed capital and working capital.

5. Differentiate between fixed capital and working capital.

CHAPTER. 10

1. What is marketing management?

2. What is marketing mix ? Discuss element of marketing mix 

3. What is branding or brand ?

4. Write the characteristics of good brand ?

5. What is packaging? Discuss its object and importance.

6.  What is trademark ?

7. What is labelling?  Write its functions?

8.  Write the advantages of advertisement .

CHAPTER. 11

1.  Give meaning of consumer protection.

2.   Discuss rights and responsibility of consumer.

3.  Describe the different level of the consumer council forum or Court.

4.   Write the importance of consumer protection in India.

5.   Discuss the main problem of consumer.

6.   Write short note on Consumer Protection Act 1986 or 2013 .

7. Who are consumers ?

Model Question Paper 12th Economics 2025 with Answer.

Model Question Paper 12th Economics 2025 with Answers

Q 1. Choose and write the correct alternative:

i. Which of the following is current account deficit:

a. Receipts > Payments

c. Receipts = Payments

b. Receipts < Payments

d. Receipts x Payments

Answer: b. Receipts < Payments

ii. The transaction of balance of payment are divided in how many accounts by RBI:

a. Two

c. Four

b. Three

d. Five

Answer: b. Three

iii. The value of planned consumption:

a. Ex ante investment

b. Ex post investment

c. Ex ante consumption

d. Ex post consumption

Answer: c. Ex ante consumption

iv. Formula of marginal propensity to save (MPS) is:

a. ΔC/ ΔΥ

b. ΔS/ΔY

c. C/Y

d. S/Y

Answer: b. ΔS/ΔY

v. The most important determinant of consumption demand is:

a. Net income

b. Gross income

c. Household income

d. Foreign income

Answer: a. Net income

vi. From the following the saving per unit is:

a. APS

b. MPS 

C. MPC

d. APC

Answer: a. APS

Q 2. . . Fill in the blanks.

i. Slope of indifference curve is....
ii. ...............is the change in total utility.
iii. Production function is a relationship between input and .........
iv. Total cost=.............× Quantity
v. Demand curve in the perfect competition is .........
vi. Elasticity of supply is.............. in the equation e s = 20/30 × 800/200

Answer: I. Negative Slope,  ii. Marginal utility, iii. Output, iv. Average cost, v. Perfectly Inelastic, vi. More Elastic

Q 3. Write True/False:

i. Total fixed cost per unit of output is called Average Cost.

ii. When marginal cost is zero then Total Cost will be minimum.

iii. Slope of supply curve is downward.

iv. Price of a good goes down when Demand curve is shifted leftward.

v. The government imposed upper limit on the price of a good or service is called price floor.

vi. Marginal Revenue Product(L) = Marginal Cost x Marginal Product (L)

Answer: I. False, ii. False, iii. False, iv. False, v. True, vi. False

Q 4. Match the correct column:

               A.                                         B

i. Gross Domestic Product.       (a) GDP - Deprecation

ii. Gross National Product.       (b) NDP + Depreciation

iii. Net Domestic Product.         (c) Gross Investment - Deprecation

iv. Net Investment.                     (d) GDP + NFIA

v. Devaluation.                            (e) Fiscal Deficit - Net Interest Liabilities

vi. Fiscal Deficit.                          (f) less value of currency

vii. Primary Deficit.                    (g) Total expenditure - (Revenue receipts + Non-debt creating capital receipts)

Answer: I. b,  ii. d,  iii. a,   iv.   v. f,  vi. g,   vii. e

Q5. Write the answers in one sentence each:

i. Which economist used Micro word first time.

ii. What is another name of opportunity cost?

iii. Tea and Coffee are which type of goods?

iv. When total utility is constant then marginal utility will be?

v. Which type of function of money is exchange?

vi. Who can change the Bank Rate ?

vii. Write the formula of Revenue Deficit.

Answer: I. Ragner Frisch  ii. Alternative cost,   iii. Substitute goods   iv. Zero   v. Primary function  vi. RBI  vii.   Revenue Receipt - Revenue Expenditure

Q 6. Write the meaning of central planned economy.
Or
Write the meaning of market economy.

Q7.Write the formula of Consumption Function.
Or
Write the meaning and any two example of gifin Goods?

Q 8. Explain the cardinal approach of utility.
Or
Explain the Ordinal approach of utility.

Q9. Write in short Return of scale.
Or
What is the Law of variable production? Write.

Q10. Write the meaning of Opportunity Cost with an example.
Or
What is price line? Write.

Q 11. Write the features of Mixed economy.
Or
Write any two differences between Micro Economics and Macro Economics.

Q 12. Write any two limitations of barter system.
Or
Write any two functions of Money.

Q 13. Write any two Causes of demand of money.
Or
Write any two functions of Commercial Bank.

Q 14. If the value of MPS is 0.75 then find the value of MPC.
Or
If the value of MPC is 0.4 then find the value of MPS.

Q 15. If the value of MPS is 0.2 then find the value of multiplier.
Or
If the value of MPS is 0.5 then find the value of multiplier.

Q 16.  Write the measures of Government Deficit.
Or
Write any three objectives of Government budget.

Q 17. Write any three differences between devaluation and depreciation.
Or
Write any three differences between Fixed exchange rate and Flexible exchange rate.

Q 18. Explain complementary goods and substitution goods.

Or

Explain perfect elastic of demand and perfect inelastic of demand.

Q 19. Suppose the demand and supply curve of commodity x in a Perfect competitive
market is given by:
q D = 1000 - p
q  S = 700 + 2p
Find the equilibrium price

Or

Suppose the demand and supply curve of commodity x in a Perfect competitive
market is given by:
q D = 700 - p
q S = 500 + 3p
What will be the equilibrium quantity for this commodity?

Q 20. Write any four features Indifference curve.
Or
Write any four features of Utility.

Q 21. The following table gives the total product schedule of labour. Find the corresponding average product and marginal product schedules of labour.
L.                    TP
0                      0
1.                     15
2.                    35
3.                    50
4.                    48
5.                    40

Or

The following table gives the total product schedule of labour. Find the corresponding average product and marginal product schedules of labour.
L.           AP
1.           2
2.           3
3.           4
4.           4.5
5.           4
6.          3.5

Q 22. From the following data, calculate National Income by Income Method.

(In crore)
I. Remuneration of Employee. 8000
ii.  Dividends.                                 200
III. Undistributed profit.            1000
IV. Corporate profit tax.              500
V. Rent.                                        1500
VI. Interest.                                 1200
VII. Mixed Income.                      300
VIII. Net factor income from abroad -500
IX. Depreciation.          700

Or

From the following data, calculate the Depreciation.
I. National income at factor cost.              850
II. Gross domestic product at market price 1100
III. Net factor income from abroad.        100
IV. Net indirect tax.                                     150

Q 23. Explain the Multiplier Mechanism with an example.
Or
Measure the level of ex-ante aggregate demand when autonomous investment and consumption expenditure (A) is Rs. 50 crores and MPS is 0.2 and level of income (Y) is Rs. 4000 crores.

Sample Question Paper Accountancy solution 2025 

1. Select the correct answer of the following-
(6×1)

Answer:
I. (a) As Owners and Agent, 
II. (d) an artificial asset,
III. (c) Gaining ratio,
IV. (a) Capital Profit,
V.  (c) Position Statement,
VI. (d) 1:1

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Q 2. Fill in the blanks-.   (6×1)

Answer:
I. Contract.
II. Helps.
III. Convertible
IV. Liabilities (Share Capital)
V. Financing
VI. Current

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Q 3. Answer the following in True/False-
(6×1)

Answer:
I.  False  
II.  True  
III.  False  
IV.  True  
V.  True  
VI.  True.

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Q 4. Matche the columns-   (7×1)

Answer:
I.   (d). Fixed Capital
II.  (e). Compensation
III. (f).  Executor of deceased partner
IV.  (g). Sundry Creditors
V.  (c). Creditors
VI. (b). Fully paid.

VII (a) Winding up.

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Q5. Write answer in one sentence.        (7×1)

Answer:
I. 50.   
II. Goodwill.  
III.  Article of Association.  
IV.  Re - issue of shares 
V. Reserve and Surplus.  
VI. Operating Activities.   
VII.  Share issue at Premium.

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Sample Question Paper 2025 Accountancy 12th.

Sample Question Paper 2025 Accountancy 12th with Solution.

1. Select the correct answer of the following-
(6×1)
I. The relationship of partners with the firm is-
(a) As owner and Agent
(b) As Servant
(d) As monopolist
(c) As manager

II. Goodwill is-
(a) A Current asset
(b) A fixed Asset
(d) An artificial Asset
(c) A tangible Asset

III. When old ratio is deducted from new ratio, it is called-
(a) Sacrificing Ratio
(b) Equal Ratio
(c) Gaining Ratio
(d) Loss Ratio

IV. Security premium is-
(a) Capital Profit
(b) Revenue Profit
(c) Capital Loss
(d) Revenue Loss

V. The balance sheet is called-
(a) Assets Statement
(b) Liabilities Statement
(c) Position Statement
(d) Income Statement

VI. Ideal liquid Ratio should be-
(a) 1:2
(b) 2:1
(c) 2:3
(d) 1:1

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Q 2. Fill in the blanks-.   (6×1)

I. To be a partner of a firm, the person must have ability of ...........
II. Goodwill is ......... to earn profit.
Ⅲ. The debentures which can be converted into shares are called....... debentures.
IV. The balance of share forfeited A/C is shown in ......... side of the balance sheet.
V. Cash received from the issue of of shares is ........ activity.
VI. The bank overdraft is treated as ........ liability.

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Q 3. Answer the following in True/False-
(6×1)

I. In the absence of partnership agreement, the profit is shared in capital ratio.
II. Registration of partnership is not compulsory.
III. Revaluation account is prepared when the assets are sold.
IV. On dissolution of firm, payment made to creditors is debited to realisation account.
V. A private company doesn't issue a prospectus.
VI. Depreciation is a non-cash item.

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Q 4. Match the columns-.          (7×1)
                   (A).                                            (B)
I. Current Account.                     (a) Winding up Of Company
II. Sacrificing Partner.                (b) Fully Paid
III. Part Amount of Reserve.    (c) Creditors Turnover Ratio
IV. Trade Payable.                      (d) Fixed Capital Method
V. Credit Purchase.                   (e) Compensation
VI. Debenture Stock                 (f) Executor Of Deceased Partner
VII. Reserve Capital.                (g) Sundry Creditors

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Q5. Write answer in one sentence.        (7×1)
I. What is the maximum number of members a partnership firm can have?
II. Accounting standard -10 is related to?
III. The document which is related with internal management of a company is called?
IV. Sale of forfeited share is called?
V. Under which heading profit of company is shown in the balance sheet?
VI. What type of activity of cash flow is receipt of cash from customers?
VII. Issue of shares at a price higher than its face value is called?

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Q 6. What is partnership Deed?   (2)
OR
What is meant by Firm?

Q 7. Mention any two reasons for the retirement of a partner.         (2)
OR
What is meant by internal fund?

Q 8. Explain the Realisation account.  (2)
OR
Which accounts are prepared on dissolution of firm.

Q 9. What is meant by minimum subscription?                                (2)
OR
What is Authorized capital?

Q 10.  A company issued 15,000 equity shares of 100 each to the public. All amounts have been received in lump-sum. Pass the necessary journal entries in the books of company.                 (2)
OR
What is stock?

Q 11. What is meant by Surrender of Shares. OR.                      (2)
What is meant by Forfeiture of shares?

Q 12. Write any two difference between Current ratio and Liquid ratio?      (2)
OR
Calculate net profit ratio-
Net Profit.        ₹ 12,80,000
Sales.                ₹.     80,000
Sales Return.    ₹.    80,000

Q 13.  What are Non cash item?      (2)
OR
What is meant by cash outflow?

14. What are meant by convertible debentures?                                (2)
OR
Ravi trades purchased furniture costing ₹ 2,20,000. It was agreed that the purchase consideration be paid by issue of 10% debentures of  ₹ 100 each. Give necessary journal entries in the books of Ravi traders.

Q 15. What is meant by calls in Arrears?   (2)
OR. 
Write the meaning of calls in advance?

Q 16. Write any three causes of origin of goodwill.                                   (3)
OR
Jay, Vijay and Sanjay are partners sharing of profit in the ratio of 3:2:1. The Partner agreed to share future profit in the ratio of 4:3:1. Find out the share of gain and sacrifice of each partner as a result of this change.

Q 17.  Hemant and Jayant are partners sharing profit and losses in the ratio of 3:2. They agreed to admit Ajay into partnership on 1 January 2023 and give him ¼ share of profit which he acquire equally from Hemant and Jayant. Ajay brings ₹ 20,000 as capital and ₹ 8,000 as goodwill. Pass necessary journal entries.          (3)
OR
Why is a new person admitted to partnership firm as a partner? Write any three reasons?

Q 18. Write any three difference between Shares and Debentures.        (3)
OR
Anant limited issued 8,000, 6% Debentures of ₹ 100 each at a discount of 10%, payable ₹ 40 on application and balance on allotment. Pass necessary journal entries in the books of company.

Q 19. Show how the following items will.   appear in a company's balance sheet-. (3)
land and building.             ₹ 15,00,000
Goodwill.                               ₹ 3,75,000
Marketable securities.          ₹ 75,000
Cash.                                      ₹ 1,95,000
Trade Receivables.                ₹  20,000
OR
Write the major headings of the "Equity and Liabilities" side of the company's balance sheet as per company's Act 2013.

Q 20. The net average profit of Yash Ltd. is ₹ 1,68,000 per year. Capital invested is ₹ 10,00,000. Rate of return is 12%. Remuneration of partners is ₹ 24,000, Calculate goodwill by capitalisation of super profit method.               (4)
OR
Write the Difference between Sacrificing ratio and Gaining ratio.

Q 21. Write the procedure of forfeiture of Share.      ( 4)
OR
Paras, Vikas and Nitin are partners in a firm sharing profits in the ratio of 3:2:1. Vikas retires on 31 Dec 2023.On this day the balances of Capital Accounts were ₹6,000, ₹5,000 and ₹ 4,000. Goodwill is valued at ₹ 4,500 which will not appear in the books. On the basis of revaluation, machine and stocks are reduced by ₹ 1,200 and ₹ 800 respectively. Provision of ₹ 280 is made for doubtful debts. The creditors are reduced by ₹ 600 and the patents of which the book value was ₹ 300 became valueless. Prepare profit and loss adjustment account and partner's Capital Account.

Q 22.  Write the procedure of forfeiture of shares.        (4)
OR
A company issued 2,000 equity shares of ₹ 10 each at a premium of 10%. The final call of ₹ 2 was not paid by A, Who holds 200 shares and his shares were forfeited, Half of the forfeited shares were reissued at ₹ 8 fully paid up. Give journal entries for the forfeiture and reissue of shares.

Q 23. Explain the method of calculating "Cash flow from operating activities" under indirect method.        ( 4)
OR
Calculate cash flow from operating activities from the following information-

Particulars.             31-03-2022 (₹) 31-03-2023 (₹)

Surplus in Profit and Loss 2,40,000  2,20,000
Debtors.                                 1,24,000  1,00,000
Outstanding Rent.                   84,000.    48,000
Goodwill.                               1,52,000. 1,60,000
Prepaid Insurance.                   8,000.    16,000
Creditors.                                 76,000.    52,000

If you want answer or solution of Very short, Short and long answer questions. Please comment below👇

Model Question Paper 2025 12th Business Studies with answer.

Model Question Paper 2025 Class 12th Business Studies With Answer.

Q1. Select the correct answer of the following-

(I) Henry Fayol was a-

(a) Social Scientist

(b) Mining Engineer

(c) Accountant

(d) Production Engineer

(II) Topographical conditions of country are related to-

(a) Economic Environment

(b) Physical Environment

(c) Legal Environment

(d) Cultural Environment

(III) Objectives should be-

(a) Ideal

(b) Rigid

(c) Realistic

(d) One Sided

(IV) Which of the following does not follow the scalar chain-

(a) Functional Structure

(c) Formal organisation

(b) Divisional Structure

(d) Informal organisation

(V) Staffing Relates to-

(a) Political aspect

(b) Economic aspect

(c) Social aspect

(d) Human aspect

(VI) The First step in controlling process is-

(a) Preparing the budget

(b) Setting up of standards

(c) Measuring of performance

(d) Finding the deviation

Answer: I. (a) Mining Engineer, II. (b) Physical Environment, III. (c) Realistic, IV. (d) Informal Organization, V. (d) Human Factor, VI. (b) Setting up Standard.

Q 2. Fill in the blanks-

(I) Principles of management are based on ......

(II) Standing plan is of....... nature.

(III) Decentralisation lessens the workload of ........ Executives.

(IV) The recruitment in educational institution is called .........

(V) Controlling helps in minimising the ...........

(VI) Financial management is a part of ..........management.

Answer: I. Fundamental Truth, II. Non - recurring,  III. Senior , IV. Campus Selection, V. Deviation, VI. General Management

Q 3. Answer the following in True/False-

(I) In the capital structure working capital is included.

(II) The arrangement of fixed assets is made from long term funds.

(III) Controlling is applicable on all management levels.

(IV) "On the Job training" is provided by supervisors and senior worker of enterprise.

(V) Marketing management is customer oriented.

(VI) Price does not affect the profit of business enterprise.

Answer: I. False  II. True  III. True  IV. True  V. True VI. False

Q 4. Match the columns-
                        A.                                                 B           

(I) Top Level Management.                                 (a) Followers

(II) Lower Level Management.                          (b) Monetary Motivation

(III) Essence of Management is called.          (c) Oral

(IV) To Provide support in the decisions of directorate.                                                           (d) Policy Making

(V) Bonus.                                                           (e) Coordination.

(VI) Informal communication.                      (f) Supervision.

(VII) Leadership                                               (g) Middle level management.

Answer: I. (d),  II. (f) III. (e),  IV. (g) V. (b) VI. (c)  VII. Followers

Q 5. Answer the following in one word/sentence-

(1) What does an apprentice get during the training period?

(II) Who controls the financial activities of an undertaking?

(III) Which capital is used to purchase raw material?

(IV) Which policy is created for various process of marketing?

(V) Which technique is used for increasing current sales?

(VI) How many levels are there in consumers forum?

(VII) In which commission the hearing for value of more than 10 crores rupees in done under the Consumer Protection Act, 2019?

Answer: I. Stipend II. Financial Manager. III. Working Capital. IV. Marketing Strategy V. Sales Promotion VI. Three  VII. National Commission.

Q 6.  Write the functions of management (Any two)

or

"Management is a science." Explain.

Q 7.Write the importance of coordination. (Any two).

Or

Write the functions of Top Level Management. (Any two).

Q 8.  Write the main characteristics of globalization. (Any two)

Or 

What is meant by liberalisation?

Q 9. Explain the dimensions of business environment. (Any two)

Or

Write the advantages of demonetization. (Any two)

Q 10. Define Planning.

or

"Planning is a continuous process." Explain.

Q 11. Write any two characteristics of functional organization.

Or

Write any two characteristics of divisional structure of organization.

Q 12. Write any two advantages of formal organization.

Or

Write the importance of delegation of authority. (Any two)

 Q 13. What is the purpose of Branding?

Or

 Explain any two elements of Marketing Mix.

Q 14.   Describe any two problems of consumers.

Or

What is "Eco-Mark"scheme?

Q 15.  Explain the ways of consumer protection. (Any two)

Or

Explain the District Consumer Forum.

Q 16.  Differentiate between Delegation of Authority and Decentralisation.

Or

Explain the steps involved in the process of organization.

 Q 17. State in brief various styles of leadership.

Or

Describe the important forms of non-monetary motivation.

Q 18. Explain in brief the process of controlling.

Or

State the objectives of controlling.

Q 18. Describe the importance of financial planning. 

or  

Explain the factors affecting dividend decision.

Q 20. Explain any four principles of scientific management given by F.W.Taylor.

Or

Explain the nature of principles of management.

Q 21. Differentiate between objectives and policy.

Or

Explain the limitations of planning.

Q 22.  Explain the stages of staffing process.

Or

Distinguish between training and development.

Q 23.  Explain the functions of Marketing. 

Or

What is meant by packaging? Explain its importance.

Practice paper class 12th Economics Mp Board With answer

Practice Paper Class 12th Mp Board Economics with answer. 

Question 1. Choose the correct option and write-

(i) With rise in coffee price the demand of tea is-

(a) Rises 

(b) Falls 

(c) Remain Stable 

(d) becomes zero

Ans: a. Rises

(ii) Which of the following is an example of complementary good?

(A) Tea and Coffee

(B) Coke and Pepsi

(C) Rice and Wheat

(D) Car and Petrol

Ans.D. Car and Petrol

(iii) The main object of an socialist economy is -

(a) Maximum production

(b) Economic freedom

(c) Earning profit

(d) Maximum public welfare

Ans: d. Maximum public welfare

(iv) Utility can be measured by-

(a) money

(b) example of goods

(c) weight of the thing

(d) morality

Ans: a. Money

(v) In which economy decisions are taken on the basis of price mechanism-

(a)Socialist

(b)Capitalist

(c)Mixed

(d)Both A and B

Ans: b. Capitalist

(vi) When marginal utility is zero, then total utility is-

(a) stable

(b) Positive

(c) Negative

(d) Zero

Ans: a. Stable

Question 2. Fill in the blanks-

(i) Short run production function is called the law of....... proportion.

(ii) Returns to scale are associated with......run period.

(iii) In long run, all the factors of production may be....

(iv) es= 0 means that elasticity of supply is.........

(v) The shape of average cost curve is…………..

(vi) In cost function, cost is a function of...

Ans: (I) Variable (ii) long (iii) Variable (iv) Inelastic (v) U  (v) Production

Question 3.Write true/false-

(i) John Minard Keynes British economist was born in 1993.

(ii) GNP is a national concept.

(iii) Net investment = Gross investment value - depreciates.

(iv) In a very short period supply is complete and inelastic.

(v) in perfect competition Firm is price maker.

(vi) Market Price is Found in Long Run Market.

Ans: (I) False. (ii) True (iii) True (iv) True (v) false (vi) false

Question 4. Make the correct pair- 

        A                                                      B

(i)NDP.                                                  (a) Net National Product

(ii) NNP.                                                (b) Net Domestic Production

(iii) Central Bank.                              (c) Gross Domestic Production

(iv) Commercial Bank.                     (d) RBI

(v) Durable Goods.                            (e) Lyrical concept

(vi) Flow.                                            (f) SBI

(vii) Difficulty of barter system.   (g) Refrigerator

                                                            (h) absence of coincidence

Ans: (I) b, (ii) a, (iii) d, (iv) f, (v) g, (vi). e,   (vii) h.

Question 5. Write the answer in one sentence-

(i) Write the full form of MPC.

(ii) What is consumption function?

(iii) What is average consumption propensity to consume.

(iv) What is average propensity to save?

(v) What is GST?

(vi) Which items are included in balance of payments?

(vii) Which items are included in balance of trade?

Ans: 

(I) Marginal Propensity to consume. 

(ii). Shows relationship between total consumption expenditure and total Income.

(iii) shows ratio between total consumption and total Income.

(iv) shows relation between total Income and Total saving.

 (v) Goods and services tax.

(vi) Tangible and Intangible items both.

(vii) Tangible items             

Model Paper Accountancy class 12th with Answer.

Model Paper Accountancy class 12th with Answer | Higher Secondary Accountancy Sample Paper 2023 - 24. 

MP Board Model Question paper 2023 - 24,

12 Accountancy Sample Paper 2023 - 24 with answer.

Q 1 Select the correct answer of the following

1. In the absence of agreement, interest is given on loan by the partner-
a.4% P.A.
b.5% P.A.
c.6% P.A.
d.8%P.A.

Ans: c.6% P.A.

2. Preparation of partnership deed is-
a. compulsory
c. partly compulsory
b. optional
d. un-necessary
Ans: b. optional

3. At the time of change in profit sharing ratio, the reserve are distributed in-
a. previous ratio
c. new ratio
b. equal ratio
d. capital ratio
Ans: a. previous ratio.

4. Under which heading of balance sheet is capital reserve shown -
a. current liabilities
c. share capital
b. miscellaneous expenditure
d. reserve and surplus
Ans: d. reserve and surplus

5. Ideal liquid ratio should be?
a. 1:2
b. 2:1
c. 1:1
d. 2:2
Ans: c. 1:1

6. Cash flow statement is related to which accounting standard?
a. AS-3
b. AS-6
c. AS-1
d. AS-7

Ans: a. AS-3

Q 2. Fill in the blanks.

1. The registration of partnership firm is .....

2.  In partnership, the liability of partner is ....

3.  Goodwill is an ....... asset.

4. Revaluation account is a ....... account.

5.  As per Companies Act 2013 the balance sheet is prepared according to schedule ......

6. Bills payable is shown in the heading .... of balance sheet.

Ans: 1. Optional,  2. Unlimited. 3. Intangible Asset. 4. Nominal. 5. Schedule lll      6. Current Liabilities.

Q3. Answer the following in true or false.
1. The provision of partnership act 1986 is applicable in partnership firm.

2. Gaining ratio is a part of sacrificing partner's ratio.

3. Revaluation account is personal account.

4. A, B, C are partner in the ratio of 3:2:1 respectively, B retires. The new ratio of A & C will be 3:1.

5. There is no difference between the dissolution of firm and dissolution of partnership.

6. Bills receivables are shown under the heading of current assets.

Ans: 1. True. 2. True. 3. False.  4. True. 5. False. 6. True.

4. Match the columns

                A.                                                        B
1. Reserved capital.                            a. Capital gain

2. Redemption of shares.                   b. No right in management

3. Memorandum of association.       c. Capital loss

4. Over subscription.                            d. Winding up of company                                         

5. Premium on debentures.                 e. Redeemable preference shares

6. Debenture holder.                              f. Base of the company

7. Discount on issue of debenture.    g. Proportionate allotment.
                                                                   h. Financial Statement

Ans: 1. d.,  2. e,  3. f,  4. g,  5. a,  6. b,  7. c.

5. Answer the following in one word.

1. What is called the capital a/c of which the closing balance changes every year?

2. What is the basis of valuation of goodwill?

3. Write one reason for retirement of a partner.

4. Dissolution of firm due to expiry of time is called?

5. In which heading of balance sheet profit of the company shown according to schedule.

6. Name the statement which discloses the financial position of a business on a particular date.

7. What type of activity of cash flow is receipt of cash from customers?

Ans: 1. Fluctuating Capital account
          2. Profit.
          3. Old Age of Partner.
          4. Dissolution of Partnership Firm.
          5. Reserve & Surplus
          6. Balance Sheet/ Position Statment.
          7. Operating Activities.

Very short, short and long answer questions will be discussed in the next blog soon.

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MP Board Model Question paper 2023 - 24,

12 Accountancy Sample Paper 2023 - 24 with answer.