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Class-12 Book Keeping & Accountancy 2022 Paper Solutions

48. Choose the correct option: Income and Expenditure Account reveals - (A) Gross Profit (B) Net Profit (C) Surplus or Deficiency
49. Fill in the blank : (i) Unclaimed dividend is shown on the side _____. (ii) Ratio Analysis is a _______ expression of relationship
50. Match the columns : (1) First Payment after Dissolution - (a) Partner's Loan
51. Answer in one word / sentence : (i) Income and Expenditure A/c is prepared with the help of - (ii) In which heading of Profit &
52. Write True / False : (i) It is not necessary to show the Authorised Capital in Balance Sheet of a Company.
53. Write example of Non-Trading Organisations. (any four)
54. What is meant by Receipt and Payment Account ?
55. Write the definition of Partnership according to Partnership Act, 1932.
56. What is meant by Profit & Loss Appropriation Account?
57. Write any two characteristics of Goodwill.
58. What are the main rights acquired by a new partner ?
59. What is meant by expulsion of a Partner ?
60. What is meant by Gaining Ratio ?
61. What is meant by Dissolution of a Partnership ?
62. Which accounts are opened on the dissolution of a firin?
63. Write any two characteristics of a Company.
64. What is meant by Calls in Advance ?
65. Write any two characteristics of Equity Shares.
66. Write the effect of forfeiture of shares on Shareholder.
67. Write any two characteristics of debentures.
68. What is meant by Irredeemable debenture ?
69. Write any two limitations of Financial Statement.
70. What is meant by Comparative Financial Statement ?
71. What is meant by Current Ratio ?
72. What is meant by Cash Flow Statement ?
73. Write the characteristics of Income and Expenditure accounts.
74. From the following informations prepare Receipt and Payment Account of D.B. Club for the year ending 31 Dec., 2018.
75. Under what circumstances can a partner retire from a partnership firm ?
76. Write the differences between Revaluation Account and Realisation Account. (any three)
77. Write the types of Preference Shares.
78. Mahajan Ltd. issued 30,000 equity shares of Rs. 10 each to the public. The whole amount was received in a lumpsum. Pass
79. Write the essential qualities of a good Financial Statement. (any three)
80. Write the objectives of Financial Statement Analysis. (any three)
81. State the rules which are applicable in the absence of partnership deed. (any four)
82. Kumud, Sumud and Kirti started partnership in the ratio of 4:3:3 respectively on 1-4-2016. Kumud personally guaranteed that
83. Calculate the value of Goodwill at three years purchase of an average profit of five years. Profit and Loss for last five years are
84. Write any four purposes of admission of a new partner in the firm.
85. Write the procedure of Forfeiture of shares.
86. Give the journal entries of issue of shares.
87. Calculate Current Ratio of the following :
88. Write the importance of Cash Flow Statement.
MP Board Class-12 Book Keeping & Accountancy