CBSE Class 12 Accountancy 2025 Sample Paper Solved Set 2

Part A

Accounting for Partnership Firms and Companies

1. Maanika, Bhavi and Komal are partners sharing profits in the ratio of 6:4:1. Komal is guaranteed a minimum profit of Rs.2, 00,000. The firm incurred a loss of Rs.22, 00, 000 for the year ended 31st March, 2024. What amount will be debited to Bhavi’s Capital Account in total at the end of the year?
A. 11,00,000
B. 9,60,000
C. 14,40,000
D. 2,00,000

Answer : b

2. Assertion (A): Interest on partner’s loan is debited to Profit and Loss Account.
Reason (R): Interest on partner’s loan is a charge against profits
On the basis of the above Assertion (A) and Reason (R), choose the correct option from the following:
A. Assertion (A) is correct and Reason (R) is wrong.
B. Assertion (A) is wrong and Reason (R) is correct.
C. Both Assertion (A) and Reason (R) are correct and Reason (R) is correct explanation of Assertion (A).
D. Both Assertion (A) and Reason (R) are wrong.

Answer : c

3. Which of the following statements does not relate to ‘Reserve Capital’:
A. It is part of uncalled capital of a company.
B. It cannot be used during the lifetime of a company.
C. It can be used for writing off capital losses.
D. It is part of subscribed capital.
                                             OR
Diksha Ltd. issued 4,000 9% Debentures of Rs.100 each at a discount of 10%, redeemable at a premium. If the amount of ‘Loss on Issue of Debentures Account’ was Rs. 60,000, then the amount of premium on redemption was:
A. Rs. 60,000
B. Rs. 1,00,000
C. Rs. 80,000
D. Rs. 20,000

Answer : c or d

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