CBSE Class-12 Compartment Exam 2020 : Question Paper-Accountancy

Q1. The account which shows classified summary of transactions of a ‘Cash Book’ in a Not-for-Profit Organisation is called : 

(A) Income and Expenditure A/c

(B) Receipts and Payments A/c

(C) Profit and Loss A/c

(D) Subscriptions A/c 

Q2. Give the average period, in months, for charging interest on drawings of a fixed amount, withdrawn at the end of each quarter. 

Q3. X, Y and Z are partners in a firm sharing profits and losses in the ratio of 6 : 4 : 1. X guaranteed a profit of < 15,000 to Z. The net profit for the year ending 31st March, 2019 was < 99,000. X’s share in the profit of the firm
will be : 

(A) < 30,000 

(B) < 15,000 

(C) < 48,000

(D) < 45,000 

Q4. Average profit of a firm during the last few years is < 1,50,000. In similar business, the normal rate of return is 10% of the capital employed. Calculate the value of goodwill by capitalisation of super profit method if super profits of the firm are < 50,000. 

5. Goodwill is the value of ______________________ . 

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Courtesy: CBSE