CBSE Class 12 Accountancy Important Questions 2025-26

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CBSE Class 12 Accountancy Important Questions 2025-26 are helpful in practicing for board exams. Some important questions for class 12 Accountancy are provided here for you to solve and practice for exams. You will find similar questions in board exams. These questions are picked from the previous year question papers of Central Board of Secondary Education. After completing the CBSE Class 12 Accountancy Syllabus 2025-26 , you can regularly practice the questions from here. Through the questions, you learn to practice a variety of questions. Moreover, you get an idea about the short and long questions. In the exam, you will have to answer questions of 1, 3, 4, and 6 marks. To practice more questions, you can download the latest CBSE Class 12 Sample Paper 2025-26 available on the official website of the board. Check out some of the important questions given here to prepare for the exam:

CBSE Class 12 Accountancy Important Questions 2025-26: 1 Mark

According to the latest sample paper, 16 + 3 questions will be conducted for one mark. Check out some important questions for one mark from the details given below:

Question 1: What is the capital of a Non-Profit Organization generally known as?

Question 2: Partners’ Current Accounts are opened when their capital accounts are

(1) Fixed

(2) Fixed and Fluctuating both

(3) Fluctuating

(4) None of these

Question 3: What is the need for the valuation of goodwill?

Question 4: Define Sacrificing Ratio.

Question 5: Explain the Incorporation of a company.

Question 6: Mention the kinds or classes of shares.

CBSE Class 12 Accountancy Important Questions 2025-26: 3 Marks

Five questions will be included in the accountancy paper for 3 marks according to the latest sample papers. Students can refer to some important questions for 3 marks from the details given below:

Question 1: P, Q, and R were partners with fixed capital of ₹ 40,000, ₹32,000and ₹24,000. After distributing the profit of ₹48,000 for the year ended 31st March 2022 in their agreed ratio of 3:1:1, it was observed that:

(1) Interest on capital was provided at 10% p.a. instead of 8% p.a.

(2) Salary of ₹ 12,000 was credited to P instead of Q.

You are required to pass a single journal entry at the beginning of the next year to rectify the above omissions.

Question 2: Distinguish between Income and Expenditure Account and Receipt and Payment Account based on:-

i. Nature

ii. Nature of items

iii. Period

Question 3: S. Singh Limited obtained a loan of ₹ 5,00,000 from the State Bank of India @ 10 % interest. The company issued ₹ 7,50,000, 10 % debentures of ₹ 100/- each, in favor of State Bank of India as collateral security. Pass necessary journal entries for the above transactions:

i. When the company decided not to record the issue of 10 % Debentures as collateral security.

ii. When the company decided to record the issue of 10 % Debentures as collateral security

Question 4: King Ltd took over assets of 25,00,000 and liabilities of 6,00,000 of Queen Ltd. King Ltd paid the purchase consideration by issuing 10,000 equity shares of 100each at a premium of 10% and 11,00,000 by a Bank Draft. Calculate Purchase consideration and pass necessary Journal entries in the books of King Ltd.

Question 5: OM Ltd has a current ratio of 3.5:1 and a quick ratio of 2:1. If the excess of current assets over quick assets as represented by inventory is Rs 1,50,000, calculate current assets and current liabilities.

CBSE Class 12 Accountancy Important Questions 2025-26: 4 Marks

3 questions will be coming for 4 marks in the Accountancy paper. Students can check out some important questions for 4 marks each from the details given below:

Question 1: A, B, C, and D were partners sharing profits in the ratio of 1:2:3:4. D retired and his share was acquired by A and B equally. Goodwill was valued at 3 years’ purchase of average profit of last 4 years, which was 40,000. General Reserve showed a balance of 1,30,000 and D’s Capital in the Balance Sheet was 3,00,000 at the time of D’s retirement. You are required to record necessary Journal entries in the books of the firm and prepare D’s capital account on his retirement.

Question 2: Atishyokti Ltd. company was registered with an authorized capital of ₹ 20,00,000 divided into 2,00,000 Equity Shares of ₹ 10 each, payable ₹ 3 on application, ₹ 6 on allotment (including ₹ 1 premium) and balance on call. The company offered 80,000 shares for public subscription. All the money has been duly called and received except allotment and call money on 5,000 shares held by Manish and call money on 4,000 shares held by Alok. Manish’s shares were forfeited and out of these 3,000 shares were re-issued ₹ 9 per share as fully paid up. Show share capital in the books of the company. Also, prepare notes to accounts.

Question 3: Radhika, Bani, and Chitra were partners in a firm sharing profits and losses in the ratio of 2:3:1. With effect from 1st April 2018 they decided to share future profits and losses in the ratio of 3:2:1. On that date their Balance Sheet showed a debit balance of ` 24,000 in Profit and Loss Account and a balance of ` 1,44,000 in General Reserve. It was also agreed that :

(a) The goodwill of the firm be valued at ` 1,80,000.

(b) The Land (having book value of ` 3,00,000) will be valued at ` 4,80,000.

Pass the necessary journal entries for the above changes.

Question 4: (i) Compute ‘debtors turnover ratio’ from the following information Revenue from operations (Total sales) Rs  5,20,000, cash revenue from operations 60% of the credit revenue from operations closing debtors Rs 80,000, opening debtors are 3/4th of closing debtors.

(ii) Current liabilities of a company are Rs 1,60,000. Its liquid ratio is 1.5:1 and its current ratio is 2.5:1. Calculate quick assets and current assets.

Question 5: Sarvottam Ltd decided to redeem its 1,250, 12% debentures of Rs 100 each. It purchased 850 debentures from the open market at Rs 96 per debenture. The remaining debentures were redeemed out of profit. The company has already made a provision for debenture redemption reserve in its books. Pass necessary journal entries in the books of the company for the above transactions.

CBSE Class 12 Accountancy Important Questions 2025-26: 6 Marks

Three questions with 6 marks each will be included in the question paper. It is important to practice the long answer type questions to solve them in the allotted period and get a high score:

Question 1: On 31st March 2015 the Balance Sheet of Punit, Rahul, and Seema was as follows Balance Sheet of Punit, Rahul and Seema. As of March 31, 2015:

They were sharing Profit and loss in the ratio 5:3:2.

Seema died on October 1, 2015. It was agreed between her executors and the remaining partners that:

i. Goodwill be valued at 2 years’ purchase of the average profits of the previous five years, which were: 2010-11: 30,000; 2011-12: 26,000; 2012-13: 24,000; 2013-14: 30,000 and 2014-15: 40,000.

ii. Patents be valued at 16,000; Machinery at 56,000; Buildings at 60,000.

iii. Profit for the year 2015-16 be taken as having been accrued at the same rate as that in the previous year.

iv. Interest on capital be provided at 10% p. a.

v. A sum of 15,500 was paid to her executors immediately. Prepare Revaluation Account, Seema’s Capital Account, and Seema’s Executors Account.

Question 2: On July 01, 2022, Panther Ltd. issued 20,000, 9% Debentures of ₹ 100 each at an 8% premium and redeemable at a premium of 15% in four equal instalments starting from the end of the third year. The balance in Securities Premium on the date of issue of debentures was ₹ 80,000. Interest on debentures was to be paid on March 31 every year. Pass Journal entries for the financial year 2022-23. Also, prepare Loss on Issue of Debentures account.

Question 3: Describe two basic methods of charging depreciation. Differentiate between both of them.

Question 4: OTUA Ltd. was registered with an authorized capital of 2,00,000 equity shares of ₹ 100 each. The company offered 60,000 shares for public subscription at a 25% premium. The share was payable as ₹ 40 on application and the balance on the allotment, with premium. The public had applied for 85,000 shares. Pro-rata allotment was made in the ratio of 5:4 and the remaining applications were sent letters of regret. Mr. Anand holding 4,000 shares failed to pay allotment money and his shares were forfeited. Out of these 3,000 shares were re-issued at a discount of ₹ 20 per share. Pass necessary entries in the books of OTUA Ltd.

Also Check CBSE Class 12 Previous Year Question Papers

CBSE Important Questions for Class 12 Accountancy: Chapter-Wise

There are a lot of questions according to the important chapters in the Accountancy subject that can be practiced by the students to get a good score. Two of the most important chapters in the syllabus are Accounting for Partnership Firm and Analysis of Financial Statement. Check the details of the questions from the pointers given below:

CBSE Important Questions for Class 12 Accountancy: Accounting for Partnership Firms

Students can go through the important questions for the Partnership topic from the details given below:

Question 1: R, S, and T entered into a partnership for manufacturing and distributing educational CDs on 1st April 2006. R looked after the business development, S content development and T financed the project. At the end of the year (31st March 2007), R wanted a salary of 5,000 per month for the additional work he did. The other partners were not inclined to this. How would you reduce this within the ambit of the Indian Partnership Act, of 1932? (1 Mark)

Question 2: Singh and Gupta decided to start a partnership firm to manufacture low-cost jute bags as plastic bags were creating many environmental problems. They contributed capital of Rs. 1,00,000 and Rs. 50,000 on 1st April 2012 for this. Singh expressed his willingness to admit Shakti as a partner without capital, who is specially abled but a very creative and intelligent friend of his. Gupta agreed to this. The terms of the partnership were as follows

(i) Singh, Gupta, and Shakti will share profits in the ratio of 2: 2: 1.

(ii) Interest on capital will be provided @ 6% per annum.

Due to a shortage of capital, Singh contributed Rs. 25,000 on 30th September 2012 and Gupta contributed Rs. 10,000 on 1st January 2013 as additional capital. The profit of the firm for the year ended 31st March 2013 was Rs. 1,68,900.

(i) Prepare profit and loss appropriation account for the year ending 31st March 2013.

(ii) Identify any two values which the firm wants to communicate to the society. (4 Marks)

Question 3: Explain any two methods for the valuation of goodwill. (2 Marks)

Question 4: Why are ‘reserves and surplus’ distributed at the time of reconstitution of the firm? (1 Mark)

Question 5: A and B are partners with capitals of Rs. 90,000 and Rs. 1,00,000 respectively. They decided to admit C into the partnership for 1/4th share in the future profits. C is to bring a sum of Rs.  80,000 as his capital. Calculate the amount of goodwill. (2 marks)

CBSE Important Questions for Class 12 Accountancy: Financial Statements Analysis

Cash flow statements and analysis of financial statements are in the second part of the syllabus of Accountancy. Check the important questions from the topics from the pointers given below:

Question 1: State the interest of tax authorities in the analysis of financial statements. (1 mark)

Question 2: What is meant by analysis of financial statements? State any two limitations of analysis of it. (3 marks)

Question 3: Under which major sub-headings, the following items will be placed in the balance sheet of a company as per Schedule III, Part I of the Companies Act, 2013.

(i)Accrued incomes

(ii)Loose tools

(iii)Provision for employees benefits

(iv)Unpaid dividend

(v)Short-term loans

(vi) Long-term loans (3 marks)

Question 4: Show the major headings into which the assets side of a company’s balance sheet is organized and presented as per Schedule III, Part I of the Companies Act, 2013. (3 marks)

CBSE Class 12 Accountancy Exam Pattern 2025-26

Students can check out the latest CBSE Class 12 Accountancy Exam Pattern for the academic session 2025-26 from the table below:

CBSE Class 12 Accountancy Question Paper Pattern 2024-25

A total of 34 questions will be there in the CBSE Class 12 Accountancy Question Paper. The question paper pattern of CBSE Class 12 Accountancy exam is as follows:

CBSE Important Questions for Class 12 Accountancy are mentioned here for the help of the students. You can start your preparation with the questions and achieve a higher score.

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