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CBSE Class 12 Accountancy Question Paper 2018

Class 12 Accountancy CBSE Question Paper 2018 - Free PDF Download

Class 12 Accountancy deals with financial transactions and records of any firm/organization in a stepwise manner. The Accountancy syllabus has been prepared by broadly experienced and analysts of Vedantu concisely to ease the transaction for students from school to higher education.

CBSE Class 12 Accountancy Question Paper 2018 part-1
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FAQ (Frequently Asked Questions)

P, Q, and R are partners in a company sharing profits and losses in the ratio of 2:1:3. R retires, and the new profit ratio between A and B becomes 2: 1. What will be the gaining ratio between P and Q?


Particulars

P

Q

R

Old Profit Ratio

2/6

1/6

3/6

New Ratio

2/3

1/3

-

Gaining Ratio New - Old Ratio

1/3

1/6

-

2. Which Among the Following Is Not a Capital Receipt?

  1. Donations for tournament

  2. Donations for the building fund

  3. Entrance fees

  4. None Of These

Ans: Option (c), i.e., the entrance fee is not a capital receipt.

3. When is the Gain Ratio to Be Calculated?

The gain ratio is calculated in case of retirement/death of a partner. It is required to calculate the amount by which the remaining (gaining) partners’ capital accounts are debited to compensate for the outgoing partner. 

This ratio is required to maintain goodwill adjustment among the remaining partners.

4. List Three Different Types of Partners in a Partnership.

The three types of partners in a partnership are:

  1. General and limited partners

  2. Salaried and equity partners

  3. Different levels of partners

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