MP Board Model paper 2022 12th  Accountancy.

MP BOARD has issued Model paper before Board examination of all Subjects of Class 12th and 10th. 

Read Model paper of Accountancy Subject MCQs Questions with answer. Prepare it well for final exams :-

Q1. Choose the correct options-

(I) Which basis Non-Profit organization  maintain their books of Account?

(A) Double entry system

(B) Single entry system

(C) Cash system

(D) Indian accounting system 

Answer: (C) Cash System.

(II) Excess of actual profit over normal Profit is called?

(A) Normal Profit

(B) Average Profit

(C) Contingent Profit

(D) Super Profit

Answer: (D) Super Profit

(III) Goodwill is :--

(A) Floating assets

(B) Fixed assets

(C) Tangible assets

(D) Fictitious assets

Answer: (D) Fictitious assets

(IV) Debenture holders of a company came under the category of --

(A) Owners

(B) Creditors

(C) Employees

(D) Debtors

Answer: (B) Creditors

(V) The following is not a tool of analysis of Financial Statements :--

(A) Trial Balance

(B) Comparative Statement

(C) Ratio Analysis

(D) Common size statement

Answer: (A) Trial Balance.

(VI) Cash flow statement is related to -

(A) Accounting standard -3

(B) Accounting Standard- 6

(C) Accounting Standard -9

(D) Accounting standard -12

Answer: (A) Accounting standard -3

Q2. Match the column:

                    A.                                               B

i First Payment after Dissolution.                   (A)

Partner's Loan. 

ii On death of Partner his share  is paid         (B) not compulsory.

iii Internal liability of the firm.                           (C) To Legal Representative

iv External liability of the firm.                           (D) Is compulsory

V Preparation of Partnership deed.                 (E) To Third party

vi Profit distribution in partnership.                  (F)  Bank Loan

Answers:  (i) E     (ii)   C   (iii)  A  (iv)  F   (v) B (vi) D

Q3. Write Answer in one Sentence.

(1) Donation received from specific purpose is called ? 

Answer: Special Donation

(II) In which side Bank overdraft Account  written in Receipts and payment? 

Answer: Payment side.

(III) The share issued more than face value is called ? 

Answer: Share issue at Premium

(IV) What are those debenture more than face value is called which can be converted in share ? 

Answer: Convertibles Debenture.

(V) That capital by which no company can issue more shares ? 

Answer: Authorized Capital.

(VI) Under which heading proposed dividend is shown in companies balance sheet ? 

Answer: Short term Provision

(VII) The person by whom is a company established is called ?  

Answer: Promoters

Q5.Write True/ False :

(I) Only Capital items are shown the Receipts Payment Account. False

(II) Premium is a Capital Profit.  False

(III) Debentures are of short term loan in nature. False

(IV) Company's Balance Sheet can prepared in Horizontal form. True

(V) Contingent liabilities are added in total of liabilities. False

(VI) The Financial statement are indicator of the solvency of business. True

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