XII (Commerce) (Accountancy)

Transcription

1 XII (Commere) (Aountny) Time : 3 Hrs Minute (Extr)] [Totl Mrks ; 100] Generl Instrutions There is No negtive mrking for ny wrong nswer pper There re two setions in the question I (Setion-I) (Ojetive Questions) (Totl Mrks) 50 (Totl No. of Questions) 50 II (Setion-II) (Non-Ojetive Questions) (Totl Mrks) 50 (Short Answer Type Questions) 15 (Long Answer Type Questions) 04 (There re some internl options in some of the long nswer type questions. In suh questions you hve to nswer ny one of the given lterntives.) (Answer shoul e in your own lnguge s fr s prtile) (Use of ny eletroni ggets like Clultor, Cell Phone, Pger is prohiite uring exm.)

2 (2) () (The nswer of ojetive question is to e given on supplie OMR sheet y ompletely rkening the pproprite nswer option. For exmple if nswer is (). You shoul rken it s shown y lue/lk pen. () () () () MODEL PAPER SECTION Ojetive Questions I Time : 1 Hours 10 Minutes [Totl Mrks ; 50] In Setion I, there re 50 ojetive type questions, to e nswere on OMR Sheet. Question Nos. 1 to 50 rry 1 mrk eh. Answer ll the questions. I I. In Question Nos. 1 to 50, eh question hs four lterntives, of whih only one is orret. You hve to hoose the orret lterntive : x1=50 1. Property reeive s result of the will of the eese person is lle : () Legy () Honorrium () Dontion () Susription

3 (3) 2. Pyment of Honorrium to seretry is trete s : () Cpitl expeniture () Revenue expeniture () Csh expenses () Deferre Revenue expeniture 3. In the sene of prtnership ee, the prtner will e llowe interest on the mount vne to the firm t : () 5% () 6% () 8% () 9% () 5% () 6% () 8% () 9% 4. In the sene of prtnership ee, interest on pitl will e given to the prtners t : () 5% () 6% () 8% () None of these () 5% () 6% () 8% 5. Current Aount is : () Personl Aount () Rel Aount () Nominl Aount () None of these 6. The interest on prtners' rwings is eite to :

4 (4) () Prtenrs Cpitl A/ () Profit n Loss A/ () Drwing A/ () Revlution A/ 7. Interest pyle on the pitls of the prtners is hrge to: () Profit n Loss A/ () Relistion A/ () Profit n Loss Approprition A/ () Revlution A/ 8. The exess of tul profit over the norml profit is lle : () super profit () fixe profit () norml profit () norml profit 9. A n B re prtners shring profit in the rtio 3 : 1. They mit C for 1 4 shre in future profits. The new profit shring rtio will e : () A 9 16 : B 3 16 : C 4 16 () A : B 2 16 : C 4 16 () A 8 16 : B 4 16 : C 4 16 () A 8 : B 9 10 : C

5 (5) A B C 1 4 () A 9 16 : B 3 16 : C 4 16 () A : B 2 16 : C 4 16 () A 8 16 : B 4 16 : C 4 16 () A 8 : B 9 10 : C X n Y shre profits in the rtio of 3 : 2. Z ws mitte s prtner who gets 1 3 shre. Z quires 5 rtio will e : () 9 : 7 : 4 () 8 : 8 : 4 () 6 : 10 : 4 () 10 : 6 : from X n from Y. The new profit shring 20 X Y Z Z X 3 20 Y () 9 : 7 : 4 () 8 : 8 : 4 () 6 : 10 : 4 () 10 : 6 : A n B shre Profit n Loss in the rtio 3 : 1. C is mitte into prtnership for 1 shre. The srifiing rtio A n B is : 4 () equl () 3 : 1 () 2 : 1 () 3 : 2 A B C A B 1 4

6 (6) 12. Exess of the reit sie over eit sie in Revlution A/ is: () Profit () Loss () Gin () Expense 13. Ahishek, Rjt n Vivek re prtners shring profits in the rtio of 5 : 3 : 2. If Vivek retires, the new profit shring rtio etween Ahishek n Rjt will e : () 3 : 2 () 5 : 3 () 5 : 2 () None of these 14. On retirement of the prtner, the retiring Prtner's Cpitl A/ will e reite with : () his/her shre of goowill () goowill of the firm () () shres of goowill of remining prtners None of these 15. X, Y n Z shre profits in the rtio of 1, 1 n 1. Z ies. New rtio of X n Y will e :

7 (7) () 3 : 2 () 2 : 3 () 2 : 1 () None of these X, Y A 1, X Y 1 6 Z 16. Relistion Aount is : () Personl Aount () Nominl Aount () Rel Aount () None of these 17. Expenses on issolution of firm is lle : () Relistion expense () Legl expense () Loss expense () None of these 18. The exess of tul profit over the norml profits is lle : () Super profits () Fixe profits () Anorml profits () None of these 19. When the new prtner pys for goowill in sh, the mount shoul e eite in the firm's ooks to :

8 (8) () Goowill Aount () Csh Aount () Cpitl Aount of new prtner () None of these 20. Rohit n Rohn shre profits in the rtio of 3 : 2. Rohini ws mitte s prtner who gets 1/5 shre. If Rohini quires 3/20 from Rohit n 1/20 from Rohn, new profits shring rtio woul e : () 9 : 7 : 4 () 8 : 8 : 4 () 6 : 10 : 4 () None of these 21. At the time of mission of prtner, unistriute profits ppering in the Blne Sheet of the ol firm is trnsferre to the Cpitl Aount of : () () () () ol prtners in ol profit & loss shring rtio ol prtners in new profit & loss shring rtio ll the prtners in the new profit & loss shring rtio None of these.

9 (9) 22. Derese in the vlue of fixe ssets is terme s : () Depreition () Loss () Profit () Expenses 23. At the time of issolution of prtnership firm, Profit & Loss Aount shown in the ssets sie of the Blne Sheet is trnsferre to () Relistion Aount () Csh Aount () Prtners Cpitl Aounts () Bnk Aount 24. At the time of issolution of prtnership firm, the Bills Pyle shown in the liilities sie of the Blne Sheet is trnsferre to : () Prtners Cpitl Aounts () Relistion Aount () Csh Aount () Profit & Loss Aount 25. On issolution of firm, prtner pi Rs. 1,000 for relistion expenses. Whih ount will e eite? () Csh Aount () Relistion Aount () Prtners Cpitl Aount () Profit & Loss Aount

10 (10) 26. On tking responsiility of pyment of relistion expenses y prtner, the ount reite will e : () Relistion Aount () Csh Aount () Prtners Cpitl Aounts () None of these 27. When relistion expenses re pi y the firm on hlf of prtner, suh expenses re eite to : () Relistion Aount () Prtners Cpitl Aounts () Prtner s Lon Aount () None of these 28. On tking responsiility of pyment of liility of Rs. 1,00,000 y prtner, the ount reite will e : () Relistion Aount () Csh Aount () Prtners Cpitl Aounts () None of these 29. Csh lne shown in the Blne Sheet is shown on issolution of firm in: () Relistion Aount () Csh Aount () Cpitl Aounts () Profit & Loss A/ 30. Premium reeive on issue of shres re shown uner the he in the Blne Sheet :

11 (11) () () () () Reserve n Surplus Current Liilities n Provisions Shre Cpitl Contingent Liilities 31. Interest on lls-in-vne is pi t the rte of : () 8% p. () 6% p. () 5% p. () None of these % % % 32. Whih one of the following is the registere pitl of the ompny? () Pi-up pitl () Unlle pitl () Authorise pitl () Issue pitl 33. Diviens re usully pi on : () Authorise Cpitl () Issue Cpitl () Clle-up Cpitl () Pi-up Cpitl 34. The term finnil sttements inlue : () Profit & Loss Aount () Profit & Loss Aount n Blne Sheet () Profit & Loss Approprition A/

12 (12) () () n () oth () () 35. The term urrent ssets o not inlue : () Stok () Detors () Cr () None of these 36. Blne Sheet is : () Sttement () Aount () Both () None of these 37. The most ommonly use tools for finnil nlysis re : () Horizontl nlysis () Vertil nlysis () Rtio nlysis () All the ove 38. An Annul Report is issue y ompny to its : () Diretors () Auitors () Shreholers () Mngement 39. Blne sheet provies informtions out finnil position of the

13 (13) enterprise : () At point of time () Over perio of time () For perio of time () None of these 40. The iel Current Rtio is : () 2 : 1 () 1 : 2 () 3 : 2 () 3 : The iel Ai Test Rtio is : () 1 : 1 () 1 : 2 () 2 : 1 () 2 : The iel Det Equity Rtio is : () 1 : 1 () 1 : 2 () 2 : 1 () 3 : Stok Turnover Rtio is : () Liquiity Rtio () Profitility Rtio () Ativity Rtio () None of these 44. Profitility Rtio is generlly shown in : () Perentge () Simple Rtio () Times () Eqution 45. Csh flow sttement is prepre from :

14 (14) () Blne Sheet () Profit & Loss Aount () Aitionl Informtions () All the ove 46. Whih of the following is not sh inflow? () Derese in Detors () Issue of shres () Derese in Creitors () Sles of fixe ssets 47. Whih of the following is not sh outflow? () Inrese in Creitors () Inrese in Detors () Inrese in stok () Inrese in prepi expenses 48. Csh Flow Sttement is se upon : () Csh sis of ounting () Arul sis of ounting () Aounting Eqution () None of these 49. Whih of the following is not the soure of sh? () Purhse of Fixe Assets () Funs from Opertion () Issue of Deentures () Sle of Fixe Assets 50. Csh sles is :

15 (15) () Operting tivities () Investing tivities () Finning tivities () None of these Setion II (Non Ojetive Type) II Time : 2 Hours 05 Minutes [Totl Mrks : 50] Short Answer type questions) : Instrution : Question Nos. 1 to 22 re Short Answer Type Questions. Eh Question rries 2 mrks. Answer ny 15 questions. 15x2=30 1. Wht is relistion ount? 2. Wht is ment y issolution of firm? 3. Wht is ment y giving gurntee of profit to prtner? 4. Wht is prtnership ee? 5. Wht is Reeipts n Pyments Aount? 6. Wht o you men y nlysis of finnil sttement? 7. Sonu Lt. hs urrent rtio 3 : 1. If its stok is Rs. 40,000 n totl urrent liilities re Rs , fin out its quik rtio.

16 (16) 8. Wht is ommon-size sttement? 9. Stte the fetures of Inome n Expeniture Aount. 10. Wht is the nee for vlution of goowill? 11. Why Revlution Aount is prepre on mission of prtner? 12. Distinguish etween srifie rtio n gining rtio. 13. Wht re the moes of issolution of prtnership firm? 14. Explin the fetures of ompny. 15. Wht is Reserve pitl? 16. Wht is ment y over-susription of shres? 17. Define forfeitures of shres. 18. Wht is eenture? 19. Wht o you men y Reemption of eentures? 20. Stte the limittions of Finnil Sttement.

17 (17) 21. Wht o you men y Rtio Anlysis? 22. Wht re the ojetive of prepring sh flow sttement? Long nswer type questions : Instrution : Question Nos. 23 to 26 re Long Answer Type Questions. Eh question rries 5 mrks. Answer ll questions. 4x5= M n N were prteners shring profits in the rtio of 3 : 2 on the te of issolution their pitls were M : Rs. 7650, N : Rs The reitors mounte to Rs The lne of sh ws Rs The ssets relise Rs. 25,430. The expenses on issolution were Rs Close the ooks of the firm. ( = 5) M N M : , N : 0 0 OR/ Uner wht irumstnes n prtnership firm e issolve? 24. The Diretors of ompny eie to forfeit 5,000 shres of Rs. 100 per shre on whih ll money ws Rs. 80. The erer of these shres i not py Rs. 30 per shre on first ll n Rs. 20 per shre on finl ll. Mke Journl entry for forfeiture of the shres.

18 (18) OR/ Explin the tools of nlysis of finnil sttements. 25. The following is the position of urrent ssets n urrent liilities of Vijy Lt : 5 Prtiulrs 2009 Rs Creitors 20,000 15,000 Detors 30,000 20,000 Bill Reeivle 18,000 29,000 Prepi Insurne 2,000 5,000 The ompny hs inurre loss of Rs. 6,000 uring the yer. Clulte sh from operting tivities. Rs ,000 15,000 30,000 20,000 18,000 29,000 2,000 5,000 OR/ Disuss the limittions of sh flow sttement. 26. A n B re prtners shring profits in the rtio of 7 : 8. C ws mitte in

19 (19) the firm for 1/6 th shre who pi Rs. 1,80,000 s pitl n Rs. 45,000 s premium in sh. At the time of Amission Generl reserve mounting to Rs. 45,000 n profit & loss / mounting to Rs. 24,000 ppere on the liilities sie of the Blne Sheet. Show neessry journl entries to reor the ove trnstions. A B C OR/ Explin the proeure of etermining the mount pyle to retiring prtner when he leves the firm.

20 (20) (Answer of ojetive questions) : 1. () 14. () 27. () 40. () 2. () 15. () 28. () 41. () 3. () 16. () 29. () 42. () 4. () 17. () 30. () 43. () 5. () 18. () 31. () 44. () 6. () 19. () 32. () 45. () 7. () 20. () 33. () 46. () 8. () 21. () 34. () 47. () 9. () 22. () 35. () 48. () 10. () 23. () 36. () 49. () 11. () 24. () 37. () 50. () 12. () 25. () 38. () 13. () 26. () 39. ()

21 CHAPTERWISE DISTRIBUTION OF MARKS Unit Topi Totl Allotte Mrks Prt-A A/ for Non-Profit orgnistion & Prtnership (Compulsory) Long Type Short Type Ojetive Unit-I Aounting for Not-for-Profit Orgnistions 10 x 2(2) 6(6) Unit-II Aounting for Prtnership 5 x 1(2) 3(3) Unit-III Reonstitution of Prtnership 20 1(5) 3(2) 9(9) Unit-IV Dissolution of Prtnership Firm (5) 3(2) 14(14) Prt-B Totl Compny Aounts n Finnil Sttement Anlysis Unit-V Aounting for Shres n Deenture Cpitl 12 1(5) 2(2) 3(3) Unit-VI Anlysis of Finnil Sttements 8 x 1(2) 6(6) Unit-VII Sttement of Chnges in Finnil Position (5) 3(2) 9(9) Totl 100 4x5=20 15x2=30 50x1=50