CBSE Class 12 Accountancy Analysis Of Financial Statements Worksheet

Read and download free pdf of CBSE Class 12 Accountancy Analysis Of Financial Statements Worksheet. Students and teachers of Class 12 Accountancy can get free printable Worksheets for Class 12 Accountancy in PDF format prepared as per the latest syllabus and examination pattern in your schools. Standard 12 students should practice questions and answers given here for Accountancy in Grade 12 which will help them to improve your knowledge of all important chapters and its topics. Students should also download free pdf of Class 12 Accountancy Worksheets prepared by school teachers as per the latest NCERT, CBSE, KVS books and syllabus issued this academic year and solve important problems provided here with solutions on daily basis to get more score in school exams and tests

Analysis Of Financial Statements Class 12 Accountancy Worksheet Pdf

Class 12 Accountancy students should refer to the following printable worksheet in Pdf for Analysis Of Financial Statements in standard 12. This test paper with questions and answers for Grade 12 Accountancy will be very useful for exams and help you to score good marks

Class 12 Accountancy Worksheet for Analysis Of Financial Statements

 

Class_12_ Accountancy _Worksheet_1


 Important Questions for NCERT Class 11 Accountancy Financial Statements


Question :  Choose the Current Assets from the following :
(a) Cash
(b) Stock
(c) Debtors
(d) All of these 

Answer :  D

 

Question :  Following information is given in Trial Balance
Bad Debt Rs. 3,000
Provision for Bad Debts Rs. 3,500
Debtors Rs.40,000
Additional information :
It is desired to make a provision for doubtful debts @ of 10% on debtors. The amount debited to P&L A/c is
(a) Rs.4,000
(b) Rs.5,000
(c) Rs.6,500
(d) Rs.3,500 

Answer :  D



Question :  Net Profit before the following adjustments Rs. 1,80,000
Outstanding salary Rs. 10,000
Prepaid Insurance Rs. 13,000
Calculate profit after adjustments
(a) Rs. 1,83,000
(b) Rs.1,77,000
(c) Rs.2,03,000
(d) Rs. 1,87,000 

Answer :  A



Question : Schedule of balances prepared from ledger accounts is known as :
(a) Balance Sheet
(b) Trial Balance
(c) Statement of Accounts
(d) Statement of Affairs 

Answer :  B



Question :  Closing Stock appearing in the Trial Balance is shown :
(a) On the Dr. side of Trading A/c
(b) On the Cr. side of Trading A/c
(c) On the Assets side of Balance Sheet
(d) On the Cr. side of Trading A/c and on the Assets side of Balance Sheet 

Answer :  C

 

Question :   Adjustments given are recorded once in Trading and Profit and Loss Account and again in Balance Sheet. It is so because of
(a) Matching Principle.
(b) Dual Aspect Principle.
(c) Accrual Concept.
(d) Materiality Principle. 

Answer :  B



Question :   Indirect Expenses are transferred to
(a) Trading Account.
(b) Profit and Loss Account.
(c) Balance Sheet.
(d) Trading Account and Balance Sheet. 

Answer :  B


Question :  Computers purchased for re-sale is:
(a) Capital expenditure.
(b) Revenue Expenditure.
(c) Deferred Revenue Expenditure.
(d) None of these. 

Answer :  B



Question :    Wages and Salaries Account is shown in
(a) Trading Account,
(6) Profit and Loss Account.
(c) Balance Sheet.
(d) Trading Account and Balance Sheet. 

Answer :  A



Question :  . If sales are Rs.2,000 and the rate of gross profit on cost of goods sold is 25%, then the cost of goods sold will be :
(a) Rs. 1,600
(b) Rs. 1,500
(c) Rs. 1,700
(d) Rs. 1,800 

Answer :  A

 

Question :   Which of the following is not shown in Balance Sheet?
(a) Opening Stock
(b) Closing Stock
(c) Patents
(d) Debtors 

Answer :  A

 

Question :  What is the effect of overvaluing Closing Stock on the Current Year’s Profit?
(a) Decreases the gross profit and net profit.
(b) Increases the gross profit but decreases the net profit.
(c) Decreases the gross profit and increases net profit.
(d) Increases the gross profit and net profit 

Answer :  D

 

Question : Calculate the gross profit if rate of gross profit is 25% on sales and cost of goods sold are Rs. 1,80,000
(a) Rs.60,000
(b) Rs.36,000
(c) Rs.45,000
(d) Rs.30,000 

Answer :  A


Question :  Provision for Doubtful Debts is made on the debts that are
(а) Doubtful of recovery.
(b) Not doubtful of recovery.
(c) Total Debtors.
(d) Total Debtors less Provision for Doubtful Debts. 

Answer :  A

 

Question :  Balance Sheet is a
(a) a list of all the accounts in the books of a business.
(b) an account showing trading activities of a business.
(c) an account showing the financial position of a business as on a certain date.
(d) a list of assets, liabilities and capital of a business at a certain date. 

Answer :  D

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