BrainCheck

Class 12 - Accountancy - Paper 048

Grade 12 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

1. 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

2. A profit of Rs 65000 is shared in the ratio 3:2. Find the first partner's share in rupees.

○ A. 39001

○ B. 39000

○ C. 39002

○ D. 38999

Accounting for Partnership Firms

3. A company issues 900 shares of face value Rs 10 at par. Find the share capital raised.

○ A. 8999

○ B. 9002

○ C. 9000

○ D. 9001

Accounting for Share Capital

4. 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 048

Grade 12 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

5. 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

6. A company issues 400 shares of face value Rs 10 at par. Find the share capital raised.

○ A. 4001

○ B. 4000

○ C. 3999

○ D. 4002

Accounting for Share Capital

7. Current ratio is ___ .

○ A. fixed assets / current assets

○ B. profit / capital

○ C. inventory / revenue

○ D. current assets / current liabilities

Financial Statement Analysis

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 048

Grade 12 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

9. A profit of Rs 40000 is shared in the ratio 3:2. Find the first partner's share in rupees.

○ A. 24000

○ B. 23999

○ C. 24002

○ D. 24001

Accounting for Partnership Firms

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

○ A. non-cash depreciation

○ B. operating

○ C. investing

○ D. financing

Cash Flow Statement

11. Current assets are Rs 240000 and current liabilities Rs 20000. What is the current ratio expressed as a number?

○ A. 13

○ B. 11

○ C. 14

○ D. 12

Accounting Ratios

12. A profit of Rs 45000 is shared in the ratio 3:2. Find the first partner's share in rupees.

○ A. 26999

○ B. 27002

○ C. 27000

○ D. 27001

Accounting for Partnership Firms

BrainCheck

Class 12 - Accountancy - Paper 048

Grade 12 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

13. Gross profit is Rs 6000 on revenue of Rs 100000. Find the gross profit ratio as a percentage.

○ A. 7

○ B. 8

○ C. 5

○ D. 6

Accounting Ratios

14. Current assets are Rs 140000 and current liabilities Rs 20000. What is the current ratio expressed as a number?

○ A. 9

○ B. 7

○ C. 8

○ D. 6

Accounting Ratios

15. 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

16. Gross profit is Rs 7000 on revenue of Rs 100000. Find the gross profit ratio as a percentage.

○ A. 9

○ B. 7

○ C. 6

○ D. 8

Accounting Ratios

BrainCheck

Class 12 - Accountancy - Paper 048

Grade 12 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

17. 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

18. 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

19. 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

20. 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