Arts (English Medium) Class 12 - CBSE Important Questions for Accountancy

Under which heads the following items will be placed in the Balance Sheet of a company as per Schedule VI part I of the Companies Act, 1956?

(1) Cash in hand
(2) Mining Rights
(3) Short-term deposits
(4) Debenture Redemption Reserve
(5) Income received in advance
(6) The balance of the Statement of Profit and Loss
(7) Office Equipment and
(8) Work-in-progress.

From the Following information, compute Debt-Equity Ratio

The current ratio of Y Ltd. is 2:1. A state with reason which of the following transaction would

i. increase;
ii. decrease or
iii. not change the ratio

1) Trade receivables included debtors of Rs 40,000 which were received

2) The company purchased furniture of Rs 45,000. The vendor was paid by issue of equity share of Rs 10 each at par.

From the Following information, compute Debt-Equity Ratio

From the following information compute 'Proprietary Ratio'

State any objective of Financial Statement Analysis’.

Choose the appropriate alternative from the given options:

Which of the following is not an activity ratio?

Calculate Inventory Turnover Ratio

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

From the following information, prepare a 'Common Size Statement of Profit and Loss' of K K Ltd. for the year ended 31.3.2021 and 31.3.2022:

From the following information, prepare a 'Common Size Statement of Profit and Loss' of GG Ltd. for the year ended 31.3.2021 and 31.3.2022:

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. Bills Receivable
2. Securities premium reserve
3. Calls in advance

If revenue from operations is ₹ 9,00,000; gross profit is 25% on cost and operating expenses are ₹ 90,000 the operating ratio will be:

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

It is technique which involves regrouping of data by application of arithmetical relationships. Identify the technique and state any two advantages of the technique identified.

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