BrainCheck

Class 12 - Accountancy - Paper 078

Grade 12 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

1. 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

2. A company issues 600 shares of face value Rs 10 at par. Find the share capital raised.

○ A. 6000

○ B. 5999

○ C. 6002

○ D. 6001

Accounting for Share Capital

3. A company issues 700 shares of face value Rs 10 at par. Find the share capital raised.

○ A. 7002

○ B. 6999

○ C. 7000

○ D. 7001

Accounting for Share Capital

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 078

Grade 12 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

5. 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

6. 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

7. Current ratio is ___ .

○ A. fixed assets / current assets

○ B. profit / capital

○ C. inventory / revenue

○ D. current assets / current liabilities

Financial Statement Analysis

8. 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

BrainCheck

Class 12 - Accountancy - Paper 078

Grade 12 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

9. 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

10. 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

11. A company issues 500 shares of face value Rs 10 at par. Find the share capital raised.

○ A. 4999

○ B. 5001

○ C. 5002

○ D. 5000

Accounting for Share Capital

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 078

Grade 12 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

13. Gross profit is Rs 5000 on revenue of Rs 100000. Find the gross profit ratio as a percentage.

○ A. 7

○ B. 6

○ C. 5

○ D. 4

Accounting Ratios

14. 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

15. Current assets are Rs 60000 and current liabilities Rs 20000. What is the current ratio expressed as a number?

○ A. 2

○ B. 5

○ C. 4

○ D. 3

Accounting Ratios

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

○ A. non-cash depreciation

○ B. operating

○ C. investing

○ D. financing

Cash Flow Statement

BrainCheck

Class 12 - Accountancy - Paper 078

Grade 12 / Accountancy

20 questions • 20 marks

Time: 25 minutes

Choose one answer per question.

Name: _________________________ Section: __________ Date: __________

17. 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

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

○ A. 50000

○ B. 50002

○ C. 49999

○ D. 50001

Financial Statement Analysis

19. A profit of Rs 20000 is shared in the ratio 3:2. Find the first partner's share in rupees.

○ A. 12000

○ B. 11999

○ C. 12001

○ D. 12002

Accounting for Partnership Firms

20. 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