Here are VBQs for CBSE Class 12 Accountancy, with full answers, made by experienced teachers. They help you spot the values behind each topic in the NCERT Accountancy book, so this part of the paper feels less unfamiliar.
Getting the Most From Accountancy VBQs (Class 12)
- Every chapter-wise Accountancy VBQ comes with a clear explanation, so the reasoning behind each value makes sense.
- Fully aligned with CBSE's current syllabus and the newest Accountancy exam style.
- Practicing these sharpens how you apply Accountancy principles to real-life situations.
- Designed so you're ready for the VBQ section of Accountancy papers, where a good few marks are often on the line.
Get Accountancy VBQs for Class 12, by Chapter
Download the latest NCERT VBQs for Class 12 Accountancy using the links below. Practicing often helps you feel more prepared for Accountancy tests and exams.
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Value Based & Case Study Questions - Practical Scenarios Analyze real-world business situations, professional ethics, corporate governance, and values in financial reporting. VBQ 1. A and B are partners in a pharmaceutical manufacturing firm. Partner A suggested that the firm should supply low-cost sub-standard generic medicines to government hospitals to maximize firm profits. Partner B strongly opposed this and insisted on maintaining the highest quality standards even if profit margins decline.
Accounting Treatment & Values:
• (a) Accounting Treatment: Research and quality testing expenses are revenue expenditures debited to the Profit and Loss Account (reducing net profit available for distribution in the P&L Appropriation Account). • (b) Values Demonstrated: 1. Social Responsibility and Consumer Welfare: Putting public health and safety above short-term monetary profits. 2. Integrity and Professional Ethics: Adhering strictly to standard product quality norms and lawful practices. VBQ 1. Rahul and Priya are running an IT firm in Pune. They decide to admit Deepak, a talented software engineer with a visual disability, as a partner with 1/5th share without asking for any premium for goodwill, considering his exceptional coding expertise.
Accounting Treatment & Values:
• (a) Accounting Treatment: Deepak's Current Account is debited with his share of goodwill (₹20,000) and credited to Rahul and Priya's Capital Accounts in their sacrificing ratio, ensuring capital remains intact. • (b) Values Highlighted: Equal opportunity for specially-abled individuals, inclusivity, recognition of merit, and empathy over monetary exploitation. VBQ 1. On the retirement of partner Ramesh due to prolonged illness, continuing partners Suresh and Naresh revalue land and building from ₹10,00,000 to ₹18,00,000 to ensure Ramesh receives his fair and accurate share of accumulated appreciation.
Accounting Treatment & Values:
• (a) Journal Entry: Land & Building A/c ... Dr. ₹8,00,000 To Revaluation A/c ₹8,00,000. • (b) Values Exhibited: Fairness, mutual trust, financial honesty, and empathy towards a colleague during vulnerable circumstances. VBQ 1. At the time of dissolution, the firm had a liability of ₹2,00,000 towards workers' unpaid medical reimbursement fund. A partner suggested suppressing this unrecorded liability to get more cash distribution. The other partners rejected this and cleared the workers' dues first.
Accounting Treatment & Values:
• (a) Journal Entry: Realisation A/c ... Dr. ₹2,00,000 To Bank A/c ₹2,00,000. • (b) Values Upheld: Concern for labor welfare, fulfillment of legal/moral obligations, transparent accountability, and ethical stewardship. VBQ 1. A public company receives oversubscription for its initial public offering (IPO) by 4 times. The Board of Directors strictly follows transparent pro-rata allotment as per SEBI regulations instead of favoring high-net-worth friends and family.
Accounting Treatment & Values:
• (a) Accounting Head: Credited to Share Allotment Account (or refunded via Bank A/c). • (b) Values Highlighted: Transparency, compliance with regulatory law, equitable treatment of small retail investors, and zero tolerance for nepotism. VBQ 1. A manufacturing company creates environmental degradation in the nearby locality. In its annual financial statements, it discloses an unquantified lawsuit filed by local villagers as a Contingent Liability under Notes to Accounts.
Accounting Treatment & Values:
• (a) Accounting Principle: Convention of Full Disclosure. • (b) Value Reflected: Honesty to potential investors, truthfulness in environmental reporting, and ethical transparency. |
| Part 1 Chapter 01 Accounting for Partnership Basic Concepts VBQs Set 01 |
| Part 1 Chapter 01 Accounting for Partnership Basic Concepts VBQs Set 02 |
| Part 1 Chapter 01 Accounting for Partnership Basic Concepts VBQs Set 03 |
| Part 1 Chapter 02 Reconstitution of a Partnership Firm Admission of a Partner VBQs Set 01 |
| Part 1 Chapter 02 Reconstitution of a Partnership Firm Admission of a Partner VBQs Set 02 |
| Part 1 Chapter 02 Reconstitution of a Partnership Firm Admission of a Partner VBQs Set 03 |
| Part 1 Chapter 03 Reconstitution of a Partnership Firm Retirement/Death of a Partner VBQs |
| Part 1 Chapter 03 Reconstitution of a Partnership Firm Retirement/Death of a Partner VBQs |
| Part 1 Chapter 04 Dissolution of Partnership Firm VBQs |
| Part 2 Chapter 01 Accounting for Share Capital VBQs Set 01 |
| Part 2 Chapter 01 Accounting for Share Capital VBQs Set 02 |
| Part 2 Chapter 01 Accounting for Share Capital VBQs Set 03 |
| Part 2 Chapter 02 Issue and Redemption of Debentures VBQs |
| Part 2 Chapter 03 Financial Statements Of a Company VBQs Set 01 |
| Part 2 Chapter 03 Financial Statements Of a Company VBQs Set 02 |
| Part 2 Chapter 04 Analysis of Financial Statements VBQs |
| Part 2 Chapter 05 Accounting Ratios VBQs Set 01 |
| Part 2 Chapter 05 Accounting Ratios VBQs Set 02 |
| Part 2 Chapter 06 Cash Flow Statement VBQs |
Free study material for Accountancy
FAQs
Value Based Questions (VBQs) are designed to assess ability of students to apply Accountancy concepts to actual-life situations and display moral, ethical, and social values. These questions also check character-building qualities such as honesty and empathy with academic knowledge.
You can download the latest chapter-wise VBQs for Class 12 Accountancy for free from StudiesToday.com. They are updated as per 2026-27 session and are mobile-friendly PDFs.
Yes, VBQs are most scoring part of exam and have almost 50% competency weight. They help Class 12 students improve their percentage by testing awareness and application of Accountancy topics.
Yes. All Accountancy Value Based Questions provided here are based on latest NCERT textbooks and official CBSE marking scheme.
To score high marks students should identify the core Accountancy concept being tested against positive human or social value. Its important to provide clear and ethical explanations to get high marks.
Yes, all study materials and chapter-wise Value Based Questions and solved practice papers for Class 12 Accountancy are free to download on StudiesToday.