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.
MP Board Model Question paper 2023 - 24,
12 Accountancy Sample Paper 2023 - 24 with answer.