UP Class 12 Accountancy Important Questions 2026

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UP Class 12 Accountancy Important Questions 2026 are helpful to prepare for the final exam. If you want to learn about the types of questions that can appear during the exam, then you must regularly solve the important questions. The important questions provided here are picked from the sample question papers and previous years' question papers released by the Uttar Pradesh Madhyamik Shiksha Parishad online. The theory paper in Accountancy will be conducted for 100 marks, and you will be given 3 hours and 15 minutes to complete the question paper.

Do not forget to understand the entire UP Board Class 12 Accountancy Syllabus 2025-26 before moving on to revision. The very first section of the question paper will consist of multiple-choice questions, followed by very short-answer type questions, then there will be short-answer type questions to be answered within 100 words, and lastly, you will find long-answer type questions. Check out more information about the UP Class 12 Accountancy Important Questions 2026 below:

UP Class 12 Accountancy Important Questions 2026 For 1 Mark

The very first section of the question paper will consist of MCQs for one mark. There will be a total of 10 MCQs included. Check out some important MCQs below:

Question 1: The Current ratio is used to find:

(1) Long-term solvency

(2) Short-term solvency

(3) Profitability

(4) None of these

Question 2: Which is not an essential element of a partnership firm?

i) At least two partners

ii) There is an agreement between all partners

iii) Equal share of profit and loss

iv) A partnership agreement is for some businesses

Question 3: On the admission of a new partner, the increase in the value of an asset is credited to

i) Profit & Loss A/c

ii) Revaluation A/c

iii) Assets A/c

iv) Old partners' Capital account.

Question 4: Sacrifice ratio means:

(1) New Ratio - Old Ratio

(2) Old Ratio - New Ratio

(3) Old Ratio - Gaining Ratio

(4) Gaining Ratio - Old Ratio

Question 5: Who are the real owners of a company?

i) Government

ii) Board of Directors

iii) Equity shareholders

iv) Debenture holders

Question 6: Which statement is correct regarding the Income and Expenditure Account?

i) It is prepared by non-trading institutions

ii) It is made based on the Receipts and Payments Account

iii) The surplus of this account is added to the capital fund

iv) All of these.

Question 7: A debenture holder is entitled to:

(1) Fixed dividend

(2) Share in profit

(3) Voting rights in the company

(4) Interest at the fixed rate

Question 8: A Dividend paid in the middle of the year is called

i) uncalled dividend

ii) preference dividend

iii) interim dividend

iv) final dividend.

Also Read: UP Board Class 12 Accountancy Exam Pattern 2025-26

UP Class 12 Accountancy Important Questions 2026 For 2 Marks

The second section of the question paper consists of very short answer-type questions for 2 marks each. You can check out the important questions for 2 marks below:

Question 1: State any two items of deduction that may have to be made from the amount payable to a retiring partner.

Question 2: What is meant by "Unlimited liability of a partner"?

Question 3: What is a share redemption fund?

Question 4: Give any two examples of non-current assets

Question 5: Write two circumstances under which a partnership firm is dissolved.

UP Class 12 Accountancy Important Questions 2026 For 5 Marks

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The next section of the question paper will consist of short-answer-type questions for 5 marks each. You can check out the important questions for 5 marks below:

Question 1: What is hidden goodwill? How is it adjusted on the admission of a partner?

Question 2: What is a Comparative Balance Sheet? Mention any three objectives of it

Question 3: Clarify the difference between the dissolution of a firm and the dissolution of a partnership.

Question 4: What is meant by the issue of Debentures for consideration other than cash?

Question 5: What do you mean by forfeiture of shares?

You can also download UP Class 12 Accountancy Previous Year Question Papers to prepare for the final exam.

UP Class 12 Accountancy Important Questions 2026 For 10 Marks

The very last section of the question paper will consist of very long answer-type questions for 10 marks each. Check out the important questions below:

Question 1: R Ltd. invited applications for 20,000 shares of Rs. 10 each payable as follows: Rs. 3 on application, Rs. 2 on allotment, Rs. 2.50 on first call, and Rs. 2.50 on second call.

Public applied for 30,000 shares, and allotments were made as under:

1. To applicants for 8,000 shares: Full allotment.

2. To applicants for 16,000 shares: 12,000 shares allotted.

3. To applicants for 6,000 shares: Nil allotment.

All money was duly received. Pass journal entries.

Question 2: What is a comparative income statement? Give a specimen of a comparative income statement with the help of imaginary figures

Question 3: What are the points to be considered while preparing the Balance Sheet by non-trading institutions?

Question 4: Vivek and Sunil were partners in a firm. Their Balance Sheet as of 31st December, 2021, stood as follows:

Balance Sheet as on 31 December 2021

They decided to admit Neeraj to the firm on the following terms:

i) Neeraj brings Rs. 45,000 as capital, and he will receive a 1/4 share in future profits.

ii) A Goodwill Account for Rs. 30,000 will be opened in the books of the firm, and the goodwill account should not remain in the books.

iii) The machinery, building, and furniture are to be depreciated by 5%.

iv) A provision of 5% be credited for doubtful debts. Prepare the Revaluation Account, the Capital Accounts of all partners and the Balance Sheet of the New Firm.

Make sure to understand the syllabus in detail before answering the important questions so that you can check out your preparation level and work on your weak points.

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