(Download) CBSE Class-12 Sample Paper 2024-25 : Accountancy

Sample Question Paper (Term-1) 2024-25

Subject Name : Accountancy

Subject Code : 055

Time Allowed: 3 Hour

Minutes Maximum Marks: 80

1. Anthony a partner was being guaranteed that his share of profits will not be less than Rs. 60,000 p.a. Deficiency, if any was to be borne by other partners Amar and Akbar equally. For the year ended 31st March, 2024 the firm incurred loss of Rs. 1,80,000.
What amount will be debited to Amar’s Capital Account in total at the end of the year?
A. Rs. 60,000
B. Rs. 1,20,000
C. Rs. 90,000
D. Rs. 80,000

2. Assertion: Partner’s current accounts are opened when their capital are fluctuating.
Reasoning: In case of Fixed capitals all the transactions other than Capital are done through Current account of the partner.
A. Both A and R are true and R is the correct explanation of A.
B. Both A and R are true but R is not the correct explanation of A.
C. A is true but R is false
D. A is false but R is true

3. Forfeiture of shares leads to reduction of _________________Capital.
A. Authorised
B. Issued
C. Subscribed
D. Called up 

4.Moon ltd. issued 40,000, 10% debentures of Rs.100 each at certain rate of discount and were to be redeemed at20% premium. Exiting balance of Securities premium before issuing of these debentures was Rs.12,00,000 and after writing off loss on issue of debentures , the balance in Securities Premium was Rs.2,00,000. At what rate of discount these debentures were issued? 
A. 10%
B. 5%
C. 25%
D. 15%

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