Sample Paper – 2012
Class – XII
Subject – Accountancy

Q1. State any two duties of a partner.

Q2. X, Y and Z were partners in a firm sharing profits in the ration of 8: 7: 5. X retired and his share was taken over by Y and Z in the ration of 1:2. Calculate new ratio of X and Y.

Q3. According to section 79 of company act 1956, what are the two provisions when companies can not issue shares at discount?

Q4. Mention any two features of Not for profit organization.

Q5. What are the circumstances to dissolve the firm.