CBSE Class 12 Accountancy Question Paper 2015 (Outside Delhi Set 2) with Answers (Compartment)

CBSE Class 12 Accountancy Question Paper 2015 (Outside Delhi Set 2) with Answers (Compartment). Students can download the last year question papers using the link below. Free download of examination question papers with solutions. Last 10 year question papers should be practised to get better marks in examinations.

ACCOUNTANCY 

1.Prachi, Komal and John were partners in a firm. They admitted Ajay their landlord as a partner in the firm. Ajay brought sufficient amount of capital and his share of goodwill premium. Ajay had given a loan of ` 3,00,000 @ 12% p.a. interest, to the partnership firm before he became the partner. Now the accountant of the firm is emphasizing that the interest on loan should be paid @ 6% p.a. Is he right in doing so ? Give reason in support of your answer.

2. When a new partner is admitted, the balance of ‘General Reserve’ appearing in the Balance Sheet at the time of admission is credited to :

(a) Profit and Loss Appropriation Account.

(b) Capital Accounts of all the partners.

(c) Capital Accounts of old partners.

(d) Revaluation Account.

3. Differentiate between ‘Profit and Loss Appropriation Account’ and ‘Profit and Loss Suspense Account.’

4. At the time of retirement of a partner ‘Loss on Revaluation’ is debited :

(a) only to the capital account of the retiring partner.

(b) to the capital accounts of all the partners in their old profit sharing ratio.

(c) to the capital accounts of the remaining partners in their new profit sharing ratio. 

(d) to the capital accounts of remaining partners in their old profit sharing ratio.

Please click the link below to download pdf file of CBSE Class 12 Accountancy Question Paper 2015 (Outside Delhi Set 2) with Answers (Compartment).