Class 12 Accountancy CBSE Question Paper 2018 - Free PDF Download
FAQs on CBSE Class 12 Accountancy Question Paper 2018
1. What does the theoretical framework of Accountancy consist of?
Accountancy is a comprehensive subject consisting of theory and practical applications. The theoretical framework of Accountancy constitutes the basics of Accountancy and the different types of concepts and types of accounting information. The characteristics of Accounting information and the role of accounting in business is thoroughly explored in the theoretical structure of Accountancy.
2. What are the advantages of having the previous years’ CBSE Class 12 Accountancy question papers?
Some of the main advantages of having previous years’ question papers is that you can fully understand the pattern of the questions asked in an examination and you can also get an idea about the marks distribution among the various questions provided. You can also determine the time limit for each answer which would help you in structuring the answers according to its word count and important keywords during the examination time. YOu can find solved CBSE Class 12 Accountancy question papers on Vedantu for free in an easily downloadable pdf format.
3. What will I learn in CBSE Class 12 Accountancy?
For starters, you will learn about the basics of Accountancy which will be emphasized for you to get a good grasp on the fundamentals and theoretical methodologies of Accountancy and presenting financial statements. You will develop an understanding of recording business transactions, accounting for firms and company accounts. You will also learn the role and importance of Accountancy in business operations.
4. What are the different types of Financial Statement Analysis?
There are two types of Financial Statement Analysis. These two approaches determine the main analysis for figuring out different financial statements.
Horizontal Analysis: In this type of analysis, figures for two or more years in the financial statements are compared and analyzed. This helps in knowing the dynamics and working trends of the business over a period of time. The other words for it are Time series analysis or Dynamic Analysis.
Vertical Analysis: In this type of analysis, figures in the financial statement are analyzed which only constitute for a single year. The relationship between various items of Balance Sheet or Statement of Profit & Loss of a single year or period is thoroughly studied. This analysis is also known as Static Analysis.
5. What are the basic Accounting terms I need to be aware of while preparing for CBSE Class 12 Accountancy?
The basic Accounting terms you need to be well versed in while preparing for CBSE Class 12 Accountancy are : Business Transaction, Capital, Drawings. Liabilities (Non Current and Current). Assets (Non Current, Current); Fixed assets (Tangible and Intangible), Expenditure (Capital and Revenue), Expense, Income, Profit, Gain, Loss, Purchase, Sales, Goods, Stock, Debtor, Creditor, Voucher, Discount (Trade discount and Cash Discount)