BrainCheck

Class 12 - Accountancy - Paper 015

Grade 12 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

1. Gaining ratio equals ___ .

○ A. old share plus new share

○ B. assets minus liabilities

○ C. old share minus new share

○ D. new share minus old share

Retirement of a Partner

2. Which equation fits the displayed data?

○ A. Liabilities = Assets + Capital

○ B. Assets = Liabilities + Capital

○ C. Capital = Assets + Liabilities

○ D. Assets = Liabilities - Capital

Financial Statement Analysis

3. A company issues 200 shares of face value Rs 10 at par. Find the share capital raised.

○ A. 2002

○ B. 1999

○ C. 2000

○ D. 2001

Accounting for Share Capital

4. A profit of Rs 60000 is shared in the ratio 3:2. Find the first partner's share in rupees.

○ A. 36001

○ B. 36002

○ C. 35999

○ D. 36000

Accounting for Partnership Firms

BrainCheck

Class 12 - Accountancy - Paper 015

Grade 12 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

5. A company issues 1300 shares of face value Rs 10 at par. Find the share capital raised.

○ A. 13000

○ B. 13001

○ C. 12999

○ D. 13002

Accounting for Share Capital

6. A profit of Rs 55000 is shared in the ratio 3:2. Find the first partner's share in rupees.

○ A. 33001

○ B. 32999

○ C. 33002

○ D. 33000

Accounting for Partnership Firms

7. Goodwill compensates old partners mainly for ___ .

○ A. a bank loan repayment only

○ B. their private property

○ C. past drawings only

○ D. sacrifice of future profit share

Admission of a Partner

8. Find capital from the balance-sheet data shown, in rupees.

○ A. 50000

○ B. 50002

○ C. 49999

○ D. 50001

Financial Statement Analysis

BrainCheck

Class 12 - Accountancy - Paper 015

Grade 12 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

9. Securities premium is shown under ___ .

○ A. reserves and surplus within shareholders' funds

○ B. revenue from operations

○ C. trade payables

○ D. current tax expense

Accounting for Share Capital

10. Current ratio is ___ .

○ A. fixed assets / current assets

○ B. profit / capital

○ C. inventory / revenue

○ D. current assets / current liabilities

Financial Statement Analysis

11. Gross profit is Rs 12000 on revenue of Rs 100000. Find the gross profit ratio as a percentage.

○ A. 11

○ B. 12

○ C. 14

○ D. 13

Accounting Ratios

12. A profit of Rs 50000 is shared in the ratio 3:2. Find the first partner's share in rupees.

○ A. 29999

○ B. 30000

○ C. 30001

○ D. 30002

Accounting for Partnership Firms

BrainCheck

Class 12 - Accountancy - Paper 015

Grade 12 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

13. A company issues 1000 shares of face value Rs 10 at par. Find the share capital raised.

○ A. 10002

○ B. 9999

○ C. 10001

○ D. 10000

Accounting for Share Capital

14. Gross profit is Rs 9000 on revenue of Rs 100000. Find the gross profit ratio as a percentage.

○ A. 9

○ B. 10

○ C. 8

○ D. 11

Accounting Ratios

15. Cash received from issuing shares is a ___ cash flow.

○ A. non-cash depreciation

○ B. operating

○ C. investing

○ D. financing

Cash Flow Statement

16. Sacrificing ratio equals ___ .

○ A. capital divided by drawings

○ B. new share minus old share

○ C. old share plus new share

○ D. old share minus new share

Change in Profit-Sharing Ratio

BrainCheck

Class 12 - Accountancy - Paper 015

Grade 12 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

17. Current assets are Rs 220000 and current liabilities Rs 20000. What is the current ratio expressed as a number?

○ A. 12

○ B. 10

○ C. 11

○ D. 13

Accounting Ratios

18. A profit of Rs 15000 is shared in the ratio 3:2. Find the first partner's share in rupees.

○ A. 9001

○ B. 9002

○ C. 8999

○ D. 9000

Accounting for Partnership Firms

19. Current assets are Rs 180000 and current liabilities Rs 20000. What is the current ratio expressed as a number?

○ A. 10

○ B. 11

○ C. 9

○ D. 8

Accounting Ratios

20. Gross profit is Rs 13000 on revenue of Rs 100000. Find the gross profit ratio as a percentage.

○ A. 15

○ B. 13

○ C. 14

○ D. 12

Accounting Ratios