Question Answers: NCERT Class 12 Accountancy
Welcome to the Chapter - , Class 12 Accountancy - NCERT Solutions page. Here, we provide detailed question answers for Chapter - .The page is designed to help students gain a thorough understanding of the concepts related to natural resources, their classification, and sustainable development.
Our solutions explain each answer in a simple and comprehensive way, making it easier for students to grasp key topics and excel in their exams. By going through these question answers, you can strengthen your foundation and improve your performance in Class 12 Accountancy. Whether you're revising or preparing for tests, this chapter-wise guide will serve as an invaluable resource.
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Popular Questions of Class 12 Accountancy
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What is Capital Fund? How is it calculated?
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What is sacrificing ratio? Why is it calculated?
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If a fixed amount is withdrawn on the first day of every quarter, for what period the interest on total amount withdrawn will be calculated?
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Why there is need for the revaluation of assets and liabilities on the admission of a partner?
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What is subscription? How is it calculated?
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List the items which may be debited or credited in capital accounts of the partners when:
(i) Capitals are fixed.
(ii) Capital are fluctuating. - Q:-
Why is Profit and Loss Adjustment Account prepared? Explain.
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If some goodwill already exists in the books and the new partner brings in his share of goodwill in cash, how will you deal with existing amount of goodwill?
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Why it is considered desirable to make the partnership agreement in writing.
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On what occasions sacrificing ratio is used?
Recently Viewed Questions of Class 12 Accountancy
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Give two circumstances under which the fixed capitals of partners may change.
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What is Capital Fund? How is it calculated?
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Explain why it is considered better to make a partnership agreement in writing.
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Why it is considered desirable to make the partnership agreement in writing.
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Discuss the main provisions of the Indian Partnership Act 1932 that are relevant to partnership accounts if there is no partnership deed.
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If a fixed amount is withdrawn on the first day of every quarter, for what period the interest on total amount withdrawn will be calculated?
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Write the various matters that need adjustments at the time of retirement of partner/partners.
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Illustrate how interest on drawings will be calculated under various situations.
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Mohan and Shyam are partners in a firm. State whether the claim is valid if the partnership agreement is silent in the following matters:
(i) Mohan is an active partner. He wants a salary of Rs. 10,000 per year;
(ii) Shyam had advanced a loan to the firm. He claims interest @ 10% per annum;
(iii) Mohan has contributed Rs. 20,000 and Shyam Rs. 50,000 as capital. Mohan wants equal share in profits.
(iv) Shyam wants interest on capital to be credited @ 6% per annum. - Q:-
State the meaning of ‘Not- for- Profit’ Organisations.
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