CBSE Class 12 Accountancy Question Paper Solved 2019 Set I

CBSE Class 12 Accountancy Question Paper Solved 2019 Set I. Students can download the last year board exams question papers using the link below. Free download of examination question papers with solutions. Last 10 year question papers should be practised to get better marks in examinations.

PART A

(Accounting for Not-for-Profit Organizations, Partnership Firms and Companies)

1. S, T and U were partners in a firm. They admitted V as a new partner. S and T sacrificed  1/3 rd and ¼  th of their share respectively in favour of V. Calculate the new profit sharing ratio of S, T, U and V.

2. Varun and Arun are partners in a firm sharing profits and losses equally. On the date of dissolution of the partnership firm, Varun’s wife’s loan was Rs. 45,000, whereas Arun’s loan was Rs. 65,000. Which loan will be paid first and why ?

3. In the absence of provision in the partnership deed, in which ratio is the deficiency arising out of guarantee of profit to a partner borne by the other partners ?

4. Differentiate between ‘Capital Reserve’ and ‘Reserve Capital’.

OR

What is meant by Preference Shares ?

5. Why are adjustments for outstanding and prepaid expenses not recorded in Receipts and Payments Account ?

OR

Distinguish between ‘Receipts and Payments Account’ and ‘Income and Expenditure Account’ on the basis of ‘Depreciation’.

6. In the absence of a partnership deed, in which ratio do the old partners sacrifice their share of profit in case of admission of a new partner ?

OR 

Give any two circumstances in which sacrificing ratio may be applied. 

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