CBSE Class 12 Accountancy Fundamentals Worksheet Set A

Access the latest CBSE Class 12 Accountancy Fundamentals Worksheet Set A. We have provided free printable Class 12 Accountancy worksheets in PDF format, specifically designed for Part 1 Chapter 1 Accounting for Partnership Basic Concepts. These practice sets are prepared by expert teachers following the 2025-26 syllabus and exam patterns issued by CBSE, NCERT, and KVS.

Part 1 Chapter 1 Accounting for Partnership Basic Concepts Accountancy Practice Worksheet for Class 12

Students should use these Class 12 Accountancy chapter-wise worksheets for daily practice to improve their conceptual understanding. This detailed test papers include important questions and solutions for Part 1 Chapter 1 Accounting for Partnership Basic Concepts, to help you prepare for school tests and final examination. Regular practice of these Class 12 Accountancy questions will help improve your problem-solving speed and exam accuracy for the 2026 session.

Download Class 12 Accountancy Part 1 Chapter 1 Accounting for Partnership Basic Concepts Worksheet PDF

Accounting for Partnership

Firms - Fundamentals
 
 
1 In the absence of an agreement profit and loss are divided by partners in the ratio of:
(a) Capital
(b) Equally
(c) Time devoted by each partners.
(d) None of these.
 
2 In the absence of an agreement, Interest on loan advanced by the partner to the firm is allowed at the rate of:
(a) 6%
(b) 5%
(c) 12%
(d) 9%
 
3 Current accounts of the partners should be opened when the capitals are:
(a) Fluctuating
(b) Fixed
(c) Either fixed or fluctuating
(d) None of these
 
4 Partnership is formed by the partners by:
(a) Written agreement
(b) Oral agreement
(c) Written or oral
(d) None of these
 
5 The written agreement of partnership is called:
(a) Partnership deed
(b) Articles of association
(c) Memorandum of association
(d) Certificate of incorporation
 
6 Under fixed capital methods, profit will be credited to:
(a) Capital Account
(b) Drawings
(c) Current A/c
(d) Profit & Loss
 
7 Capital of the partners are maintained by:
(a) Fixed capital method.
(b) Fluctuating capital methods.
(c) By any two above methods.
(d) None of them.
 
8 The members of partnership firm are individually called as:
(a) Director
(b) Investor
(c) Partner
(d) Manager
 
9 Drawings of the partners are:
(a) Debited to profit & loss A/c
(b) Credited to profit & loss A/c
(c) Credited to capital A/c
(d) Debited to capital A/c
 
10 Salary paid to partner should be:
(a) Debited to his current A/c
(b) Credited to his current A/c
(c) Credited to profit & loss appropriation A/c
(d) None of above
 
11 The Maximum number of persons in case of a partnership firm as specified by the Companies Act 2013 is
(a) 20
(b) 30
(c ) 100
(d) 50
 
12 Under which of the following circumstances , the balance of the Fixed Capital Accounts will change:
(a) Additional capital introduced
(b) Interest on capital is provided
( c) Interest on drawings is charges
(d) None of the above
 
13 State whether the following statements are true or false:
a) In the absence of an agreement, profits and losses are distributed among the partners equally.
b) A partner who has invested more capital in the firm is entitled to get interest on the excess amount of capital.
c) If all the partners agree, a minor may be admitted for the benefit of partnership.
d) Current Accounts are maintained in case of fixed capital account system
e) Interest on partner’s drawings is to be given @ 105 p.a.if the partnership deed is silent about the rate of interest.
 
14 Salary or commission to a partner is an _________ of profit.
 
15 __________ Account is an extension of Profit and Loss Account.
 
16 Under _______ system, the balance of capital changes with every transaction of the partner with the firm.
 
Interest on Drawings
 
1 Mr. A withdrew Rs 1,20,000 p.a @10% p.a. Calculate interest on drawing of Mr. A at the end of the financial year.
 
2 Mr. B withdrew Rs 1,20,000 p.a. @10%. Calculate the interest on drawings of Mr. B at the end of the financial year.
 
3 In a partnership, partners are charged interest on drawings @15% p.a. During the year ended 31st December, 2019 a partner drew as follows. Calculate interest on drawing

CBSE Class 12 Accountancy Fundamentals Worksheet Set A 1

4 Calculate interest on drawings of Rajesh @10% p.a. for the year ended 31st December, 2014 in each of the below mentioned cases.
(i)If he withdrew 2,000 per month in the beginning of every month.
(ii) If he withdrew 2,000 per month in the end of every month.
(iii) If he withdrew 2,000 per month in the middle of every month.
 
5 Calculate interest on drawings of Shiv @10% p.a. for the year ended 31st December, 2014 in each of the below mentioned cases.
(i)If he withdrew Rs 2,000 per quarter in the beginning of every quarter.
(ii) If he withdrew Rs 2,000 per quarter in the end of every quarter.
(iii) If he withdrew Rs 2,000 per quarter in the middle of every quarter.
 
6 Mr. X and Mr. Y started business on 1st April, 2013 with capitals of Rs 5,00,000 and Rs 3,00,000 respectively. Calculate interest on drawings of Mr. X @10% p.a. for the year ended 31st December 2015 in each of the following alternative cases :
(i)If he withdrew Rs 2,000 per month in the beginning of every month.
(ii) If he withdrew Rs 2,000 per month in the end of every month.
(iii) If he withdrew Rs 2,000 per month in the middle of every month.
(iv)If he withdrew Rs 6,000 in the beginning of every quarter.
(v) If he withdrew Rs 6,000 in the end of every quarter.
(vi) If he withdrew Rs 6,000 in per quarter.
 
Interest on Capital
 
7 L and M started business on 1st April, 2018 with capitals of Rs 3,00,000 and Rs 1,80,000 respectively. There is no withdrawal or addition of capital during the year. Calculate the interest on capital @ 12% p.a. for the year (a) 31st March, 2019 and (b) on 31st December, 2018.
 
8 X and Y started business on 1st April, 2018 with capitals of Rs 3,00,000 and 1,80,000 respectively. On 1st May 2018 he introduced an additional capital of Rs 60,000 and Y withdrew Rs 30,000 from his capital. On 1st October 2018, X withdrew Rs 1,20,000 from his capital and Y introduced Rs 1,50,000. Interest on capital is allowed @6% p.a. Calculate the interest on capital for the year ending 31st March, 2019.
 
9 On 31st March 2019 after the close of a/c, the capital accounts of Mr. X and Mr. Y stood in the books of the firm at Rs 2,40,000 and Rs 3,00,000 respectively. On 1st May, 2018, Mr. X introduced an additional capital of Rs 60,000 and Mr. Y withdrew Rs 30,000 from his capital. On 1st October, 2018, Mr. X withdrew Rs 1,20,000 from his capital and Y introduced ₹ 1,50,000. Interest on capital is allowed @6% p.a. Calculate the interest on capital for the year ending 31st March, 2019.
 
10 Leena and Kavita are partners sharing the profits and losses in the ratio of 2:3 with capitals of 20,000 and Rs 10,000 respectively. Show the distribution of profit/loss for the year 2019 by preparing the relevant account in each of the following in the below cases.
 
(i)If the partnership deed is silent as to the interest on capital and the trading profits for the year are Rs 1,600.
(ii)If the partnership deed provides for interest on capital @6% and the trading losses for the year are Rs 1,600.
(iii)If the partnership deed provides for interest on capital @6% and the trading profits for the year are Rs 2,200.
(iv)If the partnership deed provides for interest on capital @6% and the trading profits for the year are Rs 1,650.
(v) If the partnership deed provides for interest on capital @6% even if it involves the firm in loss and the trading profits for the year .Rs  1,600.

 

Please click on below link to download CBSE Class 12 Accountancy Fundamentals Worksheet Set A

Part 1 Chapter 01 Accounting for Partnership Basic Concepts
CBSE Class 12 Accountancy Accounting For Partnership Firms Worksheet Set A
CBSE Class 12 Accountancy Accounting For Partnership Firms Worksheet Set B
CBSE Class 12 Accountancy Fundamentals Partnership Worksheet Set A
CBSE Class 12 Accountancy Fundamentals Partnership Worksheet Set B
CBSE Class 12 Accountancy Fundamentals Partnership Worksheet Set C
CBSE Class 12 Accountancy Fundamentals Partnership Worksheet Set D
CBSE Class 12 Accountancy Fundamentals Worksheet Set A
CBSE Class 12 Accountancy Fundamentals Worksheet Set B
CBSE Class 12 Accountancy Partnership Volume Worksheet
Part 1 Chapter 02 Reconstitution of a Partnership Firm Admission of a Partner
CBSE Class 12 Accountancy Admission of A Partner Worksheet Set A
CBSE Class 12 Accountancy Admission of A Partner Worksheet Set B
CBSE Class 12 Accountancy Admission of A Partner Worksheet Set C
CBSE Class 12 Accountancy Change in Profit Sharing Worksheet Set A
CBSE Class 12 Accountancy Change in Profit Sharing Worksheet Set B
CBSE Class 12 Accountancy Change in Profit Sharing Worksheet Set C
CBSE Class 12 Accountancy Goodwill Nature And Valuation Worksheet Set A
CBSE Class 12 Accountancy Goodwill Nature And Valuation Worksheet Set B
CBSE Class 12 Accountancy Goodwill Nature And Valuation Worksheet Set C
Part 1 Chapter 03 Reconstitution of a Partnership Firm Retirement/Death of a Partner
CBSE Class 12 Accountancy Death of A Partner Worksheet Set A
CBSE Class 12 Accountancy Death of A Partner Worksheet Set B
CBSE Class 12 Accountancy Retirement of A Partner Worksheet Set A
CBSE Class 12 Accountancy Retirement of A Partner Worksheet Set B
CBSE Class 12 Accountancy Retirement of A Partner Worksheet Set C
CBSE Class 12 Accountancy Retirement of A Partner Worksheet Set D
CBSE Class 12 Accountancy Retirement or Death of a Partner Worksheet Set A
CBSE Class 12 Accountancy Retirement or Death of a Partner Worksheet Set B
Part 1 Chapter 04 Dissolution of Partnership Firm
CBSE Class 12 Accountancy Dissoultion of Partnership Firm Worksheet Set A
CBSE Class 12 Accountancy Dissoultion of Partnership Firm Worksheet Set B
CBSE Class 12 Accountancy Dissoultion of Partnership Firm Worksheet Set C
Part 2 Chapter 01 Accounting for Share Capital
CBSE Class 12 Accountancy Accounting For Companies Worksheet
CBSE Class 12 Accountancy Accounting For Share Capital Worksheet
Part 2 Chapter 02 Issue and Redemption of Debentures
CBSE Class 12 Accountancy Issue And Redemption of Debentures Worksheet Set A
CBSE Class 12 Accountancy Issue And Redemption of Debentures Worksheet Set B
CBSE Class 12 Accountancy Issue And Redemption of Debentures Worksheet Set C
Part 2 Chapter 03 Financial Statements of a Company
CBSE Class 12 Accountancy Financial Statements of A Company Worksheet
Part 2 Chapter 04 Analysis of Financial Statements
CBSE Class 12 Accountancy Analysis of Financial Statements Worksheet
CBSE Class 12 Accountancy Tools of Analysis Worksheet Set A
CBSE Class 12 Accountancy Tools of Analysis Worksheet Set B
Part 2 Chapter 05 Accounting Ratios
CBSE Class 12 Accountancy Ratio Analysis Worksheet Set A
CBSE Class 12 Accountancy Ratio Analysis Worksheet Set B
CBSE Class 12 Accountancy Ratio Analysis Worksheet Set C
Part 2 Chapter 06 Cash Flow Statement
CBSE Class 12 Accountancy Cash Flow Statement Worksheet Set A
CBSE Class 12 Accountancy Cash Flow Statement Worksheet Set B
CBSE Class 12 Accountancy Cash Flow Statement Worksheet Set C
z More Worksheets for Class 12 Accountancy
CBSE Class 12 Accountancy All Chapters Question Bank
CBSE Class 12 Accountancy All Chapters Worksheet
CBSE Class 12 Accountancy Worksheet Set A Solved
CBSE Class 12 Accountancy Worksheet Set B Solved
CBSE Class 12 Accountancy Worksheet Set C Solved
CBSE Class 12 Accountancy Worksheet Set D Solved
CBSE Class 12 Accountancy Worksheet Set E Solved
CBSE Class 12 Accountancy Worksheet Set F Solved
CBSE Class 12 Accountancy Worksheet Set G Solved
CBSE Class 12 Accountancy Worksheet Set H Solved
CBSE Class 12 Accountancy Worksheet Set I Solved
~ Class 12 Accountancy (Old Chapters)
CBSE Class 12 Accountancy Accounting For Not For Profit Organisation Worksheet
CBSE Class 12 Accountancy Not For Profit Organisation Worksheet Set A
CBSE Class 12 Accountancy Not For Profit Organisation Worksheet Set B

Important Practice Resources for Class 12 Accountancy

Part 1 Chapter 1 Accounting for Partnership Basic Concepts CBSE Class 12 Accountancy Worksheet

Students can use the Part 1 Chapter 1 Accounting for Partnership Basic Concepts practice sheet provided above to prepare for their upcoming school tests. This solved questions and answers follow the latest CBSE syllabus for Class 12 Accountancy. You can easily download the PDF format and solve these questions every day to improve your marks. Our expert teachers have made these from the most important topics that are always asked in your exams to help you get more marks in exams.

NCERT Based Questions and Solutions for Part 1 Chapter 1 Accounting for Partnership Basic Concepts

Our expert team has used the official NCERT book for Class 12 Accountancy to create this practice material for students. After solving the questions our teachers have also suggested to study the NCERT solutions  which will help you to understand the best way to solve problems in Accountancy. You can get all this study material for free on studiestoday.com.

Extra Practice for Accountancy

To get the best results in Class 12, students should try the Accountancy MCQ Test for this chapter. We have also provided printable assignments for Class 12 Accountancy on our website. Regular practice will help you feel more confident and get higher marks in CBSE examinations.

Where can I download latest CBSE Practice worksheets for Class 12 Accountancy Part 1 Chapter 1 Accounting for Partnership Basic Concepts

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