Commerce (English Medium) इयत्ता १२ - CBSE Important Questions

Who among the following introduced a policy of reservations for OBCs for the first time? 

Identify and name any two Prime Ministers of India who remained in power for less than a year.

How are the three recommendations of the Mandal Commission an effort to solve the problems of the ‘Other Backward Classes’ (OBCs)? Analyse. 

Analyse any three factors that led to the rise of ‘Other Backward Classes’ (OBCs) in Indian Politics? 

Explain any two components of attitudes.

Green and Orange are partners. Green draws a fixed amount at the beginning of every month. Interest on drawings is charged @8% p.a. At the end of the year interest on Green's drawings amounts to ₹ 2,600. Monthly drawings of Green were ______.

Girdhar, a partner, withdrew ₹ 5,000 in the beginning of each quarter, and interest on drawings was calculated as ₹ 1,500 at the end of accounting year 31 March 2022. What is the rate of interest on drawings charged?

Shyam, Gopal & Arjun are partners carrying on garment business. Shyam withdrew ₹ 10,000 in the beginning of each quarter. Gopal, withdrew garments amounting to ₹ 15,000 to distribute it to flood victims, and Arjun withdrew ₹ 20,000 from his capital account. The partnership deed provides for interest on drawings @ 10% p.a. The interest on drawing charged from Shyam, Gopal & Arjun at the end of the year will be:

P, Q and R were partners with fixed capital of ₹ 40,000, ₹ 32,000 and ₹ 24,000. After distributing the profit of ₹ 48,000 for the year ended 31^st March 2022 in their agreed ratio of 3:1:1 it was observed that:

1. Interest on capital was provided at 10% p.a. instead of 8% p.a.
2. Salary of ₹ 12,000 was credited to P instead of Q.

You are required to pass a single journal entry in the beginning of the next year to rectify the above omissions.

What category of functions is used in this formula: =PMT (C10/12, C8, C9,1)

Which formulae would result in TRUE if C4 is less than 10 and D4 is less than 100?

List any four items that are shown under the sub-heading 'Cash and Cash Equivalents' as per Schedule III of the Companies Act, 2013.

Under which major sub-headings the following items will be placed in the Balance Sheet of a company as per revised Schedule-VI, Part-I of the Companies Act, 1956:

1. Accrued Incomes
2. Loose Tools
3. Provision for employees benefits
4. Unpaid dividend
5. Short-term loans
6. Long-term loans.

List any four items other than 'stock-in-trade' that are presented under the sub-head 'inventories' as per schedule Ill of the Companies Act, 2013.

'Panipat Blankets Limited' are the manufacturers and exporters of blankets. The company decided to distribute 1,000 blankets free of cost to five villages of Kashmir which had been damaged by the floods. It also decided to employ 100 young persons from these villages in their newly established factory at Ludhiana in Punjab To meet the requirements of funds for its new factory, the company issued 1,00,000 equity shares of  Rs 10 each and 2,000, 9% debentures of Rs 100 each to the vendors of machinery purchased for Rs 12,00,000.

Pass necessary journal entries for the above transactions in the books of the company. Also, identify anyone value which the company wants to communicate to the society.

State any two limitations and any two objectives of  'Analysis of Financial Statement'. 

Financial statements are prepared following the consistent accounting concepts, principles, procedures and also the legal environment in which the business organisations operate. These statements are the source of information on the basis of which conclusions are drawn about the profitability and financial position of a company so that their users can easily understand and use them in their economic decisions.

From the above statement identify any two values that a company should observe while preparing its financial statements. Also, state under which major headings and sub-headings the following items will be presented in the Balance Sheet of a company as per Schedule III of the Companies Act, 2013:  

(i) Calls-in-arrears
(ii) Calls-in-advance
(iii) Gain on reissue of forfeited equity shares
(iv) Trade payables to be settled beyond 12 months from the date of Balance Sheet

Choose the appropriate alternative from the given options:
Which of the following is a limitation of financial analysis?

From the following Balance Sheet of Rohit Ltd., prepare a Common Size Balance Sheet:

Which of the following is a tool of Analysis of Financial Statements?