BrainCheck

Class 12 - Accountancy - Paper 039

Grade 12 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

1. A profit of Rs 30000 is shared in the ratio 3:2. Find the first partner's share in rupees.

○ A. 18002

○ B. 17999

○ C. 18001

○ D. 18000

Accounting for Partnership Firms

2. 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

3. Current ratio is ___ .

○ A. fixed assets / current assets

○ B. profit / capital

○ C. inventory / revenue

○ D. current assets / current liabilities

Financial Statement Analysis

4. 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

BrainCheck

Class 12 - Accountancy - Paper 039

Grade 12 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

5. A profit of Rs 25000 is shared in the ratio 3:2. Find the first partner's share in rupees.

○ A. 14999

○ B. 15002

○ C. 15000

○ D. 15001

Accounting for Partnership Firms

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. Current assets are Rs 160000 and current liabilities Rs 20000. What is the current ratio expressed as a number?

○ A. 8

○ B. 9

○ C. 7

○ D. 10

Accounting Ratios

8. 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

BrainCheck

Class 12 - Accountancy - Paper 039

Grade 12 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

9. A profit of Rs 35000 is shared in the ratio 3:2. Find the first partner's share in rupees.

○ A. 21000

○ B. 21001

○ C. 20999

○ D. 21002

Accounting for Partnership Firms

10. Gross profit is Rs 8000 on revenue of Rs 100000. Find the gross profit ratio as a percentage.

○ A. 7

○ B. 8

○ C. 9

○ D. 10

Accounting Ratios

11. 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

12. Gross profit is Rs 3000 on revenue of Rs 100000. Find the gross profit ratio as a percentage.

○ A. 5

○ B. 3

○ C. 4

○ D. 2

Accounting Ratios

BrainCheck

Class 12 - Accountancy - Paper 039

Grade 12 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

13. 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

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

○ A. 50000

○ B. 50002

○ C. 49999

○ D. 50001

Financial Statement Analysis

15. 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

16. 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

BrainCheck

Class 12 - Accountancy - Paper 039

Grade 12 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

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

○ A. non-cash depreciation

○ B. operating

○ C. investing

○ D. financing

Cash Flow Statement

18. Quick assets generally exclude ___ .

○ A. trade receivables

○ B. inventory and prepaid expenses

○ C. bank balance

○ D. cash

Accounting Ratios

19. A company issues 800 shares of face value Rs 10 at par. Find the share capital raised.

○ A. 7999

○ B. 8000

○ C. 8002

○ D. 8001

Accounting for Share Capital

20. A company issues 1200 shares of face value Rs 10 at par. Find the share capital raised.

○ A. 11999

○ B. 12002

○ C. 12000

○ D. 12001

Accounting for Share Capital