Important Questions for CBSE Class 12 Accountancy

Important Questions for CBSE Class 12 Accountancy:- The CBSE Class 12 Accountancy Board Exam for 2025 will be held on Wednesday, 26th March 2025, from 10:30 AM to 1:30 PM. With the exam soon to happen, it is important for students to use this time wisely to strengthen their preparation and build confidence. Relying only on textbooks and practice exercises may not be enough. It is essential to use extra resources to better understand the subject and get familiar with the types of questions that could appear in the exam.

To help with your revision, we have gathered a list of important questions based on the exam marking scheme. Check out the below article to get some accountancy important questions for class 12.

Check out: Commerce Class 12th Books

CBSE Class 12 Accountancy

1. The CBSE Class 12 Accountancy Exam is conducted in offline mode and is available in English and Hindi mediums.

2. The exam consists of a theory paper of 80 marks and project work of 20 marks, making a total of 100 marks. The theory exam is 3 hours long.

3. The paper is divided into 1-mark, 3-mark, 4-mark, and 6-mark questions, assessing different levels of understanding and skills.

4. The question paper includes three typologies:

• Remembering and Understanding (55%)

• Applying (23.75%)

• Analysing, Evaluating, and Creating (21.25%).

5. Students are tested on their ability to recall facts, apply knowledge, solve problems, and critically analyse and evaluate information.

Check out: CBSE Class 12 Commerce Stream Sample Papers

Important Questions for CBSE Class 12 Accountancy

Question 1: State the main aim of a not-for-profit organisation. (All India 2019)

Answer: Such organisations are formed to provide services such as education, health care, recreation, etc free of cost or at nominal cost.

Question 2: Ritesh and Hitesh are childhood friends. Ritesh is a consultant whereas Hitesh is an architect. They contributed equal Arts amounts and purchased a building for ₹ 2 crore. After a year, they sold it for ₹ 3 crore and shared the profits equally. Are they doing the business in partnership? Give reason in support of your answer. (CBSE 2018)

Answer: No, they are not doing the business in partnership. They are mere co-owners of the property.

Question 3: A group of 40 people wants to form a partnership firm. They want your advice regarding the maximum number of persons that can be there in a partnership firm and the name of the Act under whose provisions it is given. (All India 2016)

Or

What is the maximum number of partners that a partnership firm can have? Name the act that provides for the maximum number of partners in a partnership firm. (Delhi 2016)

Answer: The maximum number of partners that a firm can have is 50. The limit has been given as per Rule 10 of the Companies (Miscellaneous) Rules Act, 2014.

Also check, CBSE Class 12 Accountancy Sample Question Papers

Question 4: What is meant by gaining ratio on the retirement of a partner (Delhi 2019)

Answer: The ratio in which the continuing partners acquire the outgoing partner’s share is called the gaining ratio.

Question 5: Give any one distinction between sacrificing ratio and gaining ratio. (All India 2012)

Answer: The difference between the sacrificing ratio and the gaining ratio is stated below.

Sacrificing ratio:

It is the ratio in which old partners agree to sacrifice their share of profit in favour of new partner(s).

Question 6: State any two contingencies that may result into dissolution of a partnership firm. (Delhi 2019)
Answer: State any two contingencies that may result into dissolution of partnership firm

• on death of a partner.

• completion of the world.

Question 7: Name the asset that is not transferred to the debit side of realisation account, but brings certain amount of cash against its disposal at the time of dissolution of the firm. (Delhi 2014)

Answers: Unrecorded asset

Question 8: State two elements of the partnership deed. (All India 2009)

Answer: Two elements of the partnership deed are:

(i) Amount of capital contributed by each partner.

(ii) Ratio in which profits or losses are to be shared.

Question 9: Would a ‘charitable dispensary’ run by 8 members be deemed a partnership firm?Give reason in support of your answer. (All India 2011; hots)

Answer: No, a ‘charitable dispensary’ run by 8 members cannot be deemed to be a partnership firm because:

(i) For partnership, there must be a business.

(ii) There must be sharing of profits among the partners from such business.

In this case, there is no business and no sharing of profits.

Question 10: Is a sleeping partner liable for the acts of other partners? (Delhi 2011 c; hots)

Answer: Yes, a sleeping partner is also liable for the acts of other partners.

Check out: Class 12th Question Banks

Study Tips on CBSE Class 12 Accountancy

Accountancy is an important subject for Class 12 students, especially those in the commerce stream. Scoring well in this subject requires not just understanding the concepts but also consistent practice and good time management. Here are some detailed and practical tips to help you prepare effectively for the CBSE Class 12 Accountancy exam.

1. Focus on High-Weightage Topics

To score well, start by identifying topics that carry the most marks. Some of the key areas to focus on are:

• Partnership Accounts – Admission, Retirement, and Dissolution of Partnership.

• Company Accounts – Issue and Redemption of Shares and Debentures.

• Cash Flow Statements 

• Analysis of Financial Statements – Includes practical questions like Ratio Analysis and Comparative Statements.

2. Prioritise Important Questions

Practising important questions is crucial for effective preparation. Some tips include:

• Refer to accounts important questions class 12 segmented by 1-mark, 3-mark, 4-mark, and 6-mark questions.

• Focus on question sets available in reference books or online resources.

• Solve practical problems on Journal Entries, Ledger Posting, and Balance Sheet adjustments.

3. Understand Concepts Instead of Memorising

Rather than memorising, try to understand the logic behind every concept:

• Why certain adjustments are made in the Balance Sheet.

• The purpose of provisions and reserves.

• How ratios indicate a company’s financial health.
  A clear understanding of these topics ensures you can handle any twist in the questions during the exam.

4. Practise Numerical Questions Regularly

Accountancy is a subject that requires daily practice. Pay special attention to numerical topics like:

• Cash Flow Statements.

• Financial Statements with Adjustments.

• Issue and Redemption of Debentures.
  Attempt 2-3 problems daily and gradually increase the complexity. Solving accounts important questions class 12 and sample papers can improve your accuracy and confidence.

5. Strengthen Theory-Based Topics

Although numerical problems carry more weight, theory questions shouldn’t be ignored. Focus on:

• Theoretical concepts from Partnership and Company Accounts.

• Differences between Shares and Debentures.

• Explanation of terms like Provisions, Reserves, and Goodwill.
  These are often asked in accountancy important questions class 12, so revise them thoroughly.

6. Solve Previous Year Question Papers

Working through previous year question papers gives you insight into the exam pattern and helps you identify commonly asked questions. While solving, pay attention to:

• High-frequency 12th accountancy important question sets.

• Common mistakes in calculation or presentation.
  Analyse your performance and work on weak areas.

7. Work on Presentation and Formats

In Accountancy, neatness and proper formatting are important. Make sure you:

• Use the correct formats for Ledger Accounts, Trial Balance, and Cash Flow Statements.

• Label all parts of your answers clearly.

• Avoid overwriting and present answers in an organised manner.

8. Use Study Resources

While NCERT books are the base, additional resources like PW’s CBSE Class 12 Sample Papers, and online platforms like Physics Wallah can provide extra practise. These resources often include accounts important questions class 12 and solved examples, which are helpful for revision.

9. Revise Regularly

Revisit all topics periodically to ensure you remember everything you studied. Divide your revision schedule into two parts:

• Revise high-weightage topics and accountancy important questions class 12 at least twice.

• Use quick notes, flowcharts, or summary sheets for theory.
  Regular revision will help you recall concepts and formulas during the exam.

Important Questions for CBSE Class 12 Accountancy FAQs

1. Is Class 12 Accountancy tough?

Class 12 Accountancy may seem difficult at first because it involves detailed concepts and calculations. However, with regular practice and a good understanding of basic ideas, it becomes easier.

2. What is the total marks distribution for the CBSE Class 12 Accountancy Exam?
The exam is conducted for a total of 100 marks, which includes an 80-mark theory paper and 20 marks for project work.

3. What is the duration of the Accountancy theory exam?
The theory exam is conducted for a duration of 3 hours.

4. In which mediums is the Accountancy exam conducted?
The exam is available in both English and Hindi mediums.

5. What types of questions are asked in the exam?
The question paper includes 1-mark, 3-mark, 4-mark, and 6-mark questions.