# CBSE Class 12 Accountancy Question Paper 2020 Set B

Read and download CBSE Class 12 Accountancy Question Paper 2020 Set B designed as per the latest question paper pattern and Class 12 examination guidelines issued by CBSE, NCERT and KVS. The past year Question Papers for Class 12 Accountancy have been provided with solutions which will help students to assess their performance and find out topics in Accountancy grade 12 which they need to improve to get better marks in Standard 12 exams. After solving these last year papers also refer to solved Sample Papers for Class 12 Accountancy available on our website to build strong understanding of the subject

## Question Paper for Class 12 Accountancy 2020 Pdf

Students can refer to the below Class 12 Accountancy Question Paper designed to help students understand the pattern of questions that will be asked in Grade 12 exams. Please download CBSE Class 12 Accountancy Question Paper 2020 Set B

### Accountancy Class 12 Question Paper 2020

CBSE Class 12 Accountancy Question Paper 2020 Set B. Students can download the last year board exams 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.

PART - A (Partnership and Company Accounts)

1. What will be the rate of interest on the drawings if a partner makes drawings of equal amount on the last day of every month of a year?

a) 6%                                                            b) 7.5%

c) 5.5%                                                         d) 4.5%

2. Treatment of goodwill among the partners is not required when there is _________________.

a) dissolution of firm                                     b) change in profit sharing ratio

c) admission of a partner                               d) retirement of a partner

3. Mention the liability which is transferred to Realisation Account but does not require cash payment.

a) Contingent liability                                    b) Partner’s Loan

c) Investment Fluctuation Fund                      d) Partner’s capital

4. Ajit, Nitin and Gaurav are partners sharing profits and losses in the ratio of 5 : 3 : 2. Ajit retires and remaining partners agree to share future profits the ratio of 3 : 2. What will be the gaining ratio of remaining partners?

a) 5 : 2

b) 3 : 2

c) 5 : 3

d) 1 : 1

5. According to Companies Act 2013, a company can issue its equity shares on discount only to its __________________.

a) existing shareholders                                             b) debenture holders

c) new shareholders                                                  d) employees

6. Mona, Nisha and Priyanka are partners in a firm. They contributed Rs. 50,000/- each as capital three years ago. At that time Priyanka agreed to look after the business as Mona and Nisha were busy. The profits for the past three years were Rs. 15,000/-, Rs. 25,000/- and Rs. 50,000/- respectively. While going through the books of accounts Mona noticed that the profit had been distributed in the ratio of 1:1:2. When she enquired from Priyanka about this, Priyanka answered that since the looked after the business she should get more profit. Mona disagreed and it was decided to distribute profit equally retrospectively for the last three years.

a) You are required to make necessary corrections in the books of accounts of Mona, Nisha and Priyanka by passing an adjustment entry.

b) Identify the value which was not practiced by Priyanka while distributing profits.

7. Taneja Construction Ltd. has an outstanding balance of Rs.5,00,000/-, 7% debentures of Rs.100/- each redeemable at a premium of Rs.10%. According to the terms of redemption, the company redeemed 30% of the above debentures. Record the entries for redemption of debentures in the books of Taneja Constructions Ltd.

8. Pass the necessary journal entries for issue of 1,000, 7% Debentures of Rs.100 each in the following cases: