Commerce (English Medium) कक्षा १२ - CBSE Important Questions for Accountancy

List the items which are shown under the heading current liabilities and provisions as per Schedule VI Part-I of the Companies’ Act,1956.

State the interest of tax authorities in the analysis of financial statements.

Prepare a Comparative Income Statement from the following information: 

From the followings Balances Sheet of Vikas Ltd. as on 31.3.2009 and 31.3.2010, prepare a Cash Flow Statement:

Additional Information:

(i) Depreciation charged on fixed assets for the year 2009-2010 was Rs 20,000

(ii) Income Tax Rs 5,000 has been paid in advance during the year.  

Name an item which is never shown on the ‘Payments’ side of ‘Receipts and Payments Account’, but is shown as an Expenses while preparing ‘Income and Expenditure Account’  

State the significance of analysis of financial statements to ‘Top Management’.

Name any two financial statements prepared by a not-for-profit organisation. 

State under which major headings and sub-headings will the following items be presented in the Balance Sheet of a company as per Schedule-III, Part-I of the Companies Act, 2013.
(i) Prepaid Insurance
(ii) Investments in Debentures
(iii) Calls-in-arrears
(iv) Unpaid dividend
(v) Capital Reserve
(vi) Loose Tools
(vii) Capital work-in-progress
​(viii) Patents being developed by the company.

Classify the following items under Major heads and Sub-head (if any) in the Balance Sheet of a Company as per schedule III of the Companies Act 2013.

1. Current maturities of long-term debts
2. Furniture and Fixtures
3. Provision for Warranties
4. Income received in advance
5. Capital Advances
6. Advances recoverable in cash within the operation cycle

Classify the following items under major heads and sub-heads (if any) in the balance sheet of a company as per Schedule III, part I of the Companies Act, 2013:

1. Loans repayable on demand
2. Bills Payable
3. Patents

Under which major heads and sub-heads will the following items be presented in the Balance Sheet of the company as per Schedule III, Part I of the Companies Act, 2013?

1. Income received in advance
2. Computer Software
3. Balance of forfeited shares account

Name the major heads and sub-heads under which the following items will be presented in the Balance Sheet of a company as per Schedule III, Part I of the Companies Act, 2013 :

1. Goodwill
2. Debenture Redemption Reserve
3. Licenses and Franchise

Under which major heads and sub-heads will the following items be presented in the Balance Sheet of a Company as per Schedule III, Part I of the Companies Act, 2013:

1. Cheques-Drafts on hand
2. Work-in-Progress
3. Balance in Statement of Profit and Loss

Under which heads and sub-heads the following items will appear in the Balance Sheet of Company as per Schedule III, Part-I of the Companies Act, 2013:

1. Loose tools
2. Calls-in-Advance
3. Capital Reserve

‘Freedom to Choose of method of depreciation’ refers to which limitation of financial statement analysis.

Classify the following items under Major heads and Sub heads (If any) in the balance sheet of a Company as per schedule III of the Companies Act 2013.

1. Loose Tools
2. Loan repayable on demand
3. Provision for Retirement benefits
4. Pre-paid Insurance
5. Capital advances
6. Shares in Listed Companies

What is meant by a 'Common Size Statement'?

State the significance of Analysis of Financial Statements to the ‘Lenders’.

From the following information of a club show the amounts of match expenses and match fund in the Financial Statement of the Club for the year ended on 31^st March, 2009 and 31^st March, 2010. 

Following is the Income statements, prepare a Common Size Income Statements of Jayant

Ltd. For the year ended 31-3-2011: 

Income Statement of Jayant Ltd.

for the year ended 31.3.2011 

Prepare a common size Income Statements of Raj Ltd. for the year ended 31-3-2011.