Are you a Assam Board Class 12 student preparing for the ASSEB Class 12 Accountancy exam? Either way, you're in the right place. The ASSEB Class 2 Accountancy Question paper 2016 can feel like a tough nut to crack, especially with its blend of theory, journal entries, and financial statements. But with the right understanding of the ASSEB Class 12 Accountancy question paper 2016 New pattern, marking scheme, and important topics, you can approach it with confidence and clarity.
In this post, we’re diving deep into the ASSEB Class 12 Accountancy Question Paper 2016 in PDF Format—breaking down the structure, sharing sample questions, tips to score high, and some smart strategies to revise effectively. Whether you're aiming for that perfect score or just looking to pass with peace of mind, this guide has got your back in Assam Board Class 12 Accountancy Exam.
AHSEC Class 12 Accountancy
Question Paper 2016
Time : 3:00 hours
Full Mark : 100
The figures in the margin indicate full marks for the questions.
1. (a) Fill in the blanks with appropriate word: 1x4=4
a) In the absence of Partnership Deed, a Partner who advances money to the firm beyond the amount of his / her capital is entitled to get interest thereon at the rate of _____ % per annum as per Partnership Act, 1932.
b) The members of a Partnership business are collectively known as _____.
c) The amount due to the retiring partner is transferred to his / her _____ Account in case it is not paid immediately.
d) In case of fixed capital, a partner’s Capital Account always shows a _____ balance.
(b) Choose the correct alternative: 1x2=2
i. Financial Statements of a company include:
1) Balance Sheet.
2) Profit and Loss Account.
3) Cash flow Statement.
4) All of the above.
ii. Profit and Loss Account is also known as _____ statement.
(c) State whether the following statements are true or false: 1x2=2
a) Interest on Partner’s capital is debited to Partner’s Capital Account.
b) Debenture holders are creditors of the company.
2. State the meaning of Not-for-Profit organization. 2
3. A and B are partners sharing profits in the ratio 3: 2. C is admitted as a new partner for 1/5th share in the future profits. Calculate the new profit sharing ratio. 2
4. Mention any two distinctions between shares and debentures. 2
5. A Ltd. forfeited 500 shares of Rs. 10/- each, Rs. 8/- paid, for non-payment of final call of Rs. 2/- each. Give Journal entry of forfeiture of share. 2
6. A and B are partners in a firm sharing profits in the ratio of 3: 2. Their capitals as on April, 1, 2014 were Rs. 2, 00,000/- and Rs. 1, 80,000/- respectively. On October 1, 2014, A introduced an additional capital of Rs. 50,000 and on January, 1, 2015, B introduced Rs. 70,000/-. Interest on capital is allowed at 10% p.a. Calculate interest on capital for both the partners for the year ending March, 31, 2015. 2
7. Explain any three objectives of preparing a Cash Flow statement. 1x3=3
Or
From the following details, calculate Current Ratio and Liquid Ratio: 3
8. Mention any three items that can be shown under the heading “Reserves & Surplus” in a company’s Balance Sheet. 1x3=3
Or
Give three objectives of financial statement analysis. 1x3=3
9. What is meant by Comparative Statements? What do they show? 1+2=3
Or
Explain the Capitalization method of valuation of Goodwill.
10. Mention any three distinctions between Fund-based Accounting and Non-fund based Accounting. 1x3=3
Or
Mention three features of a non-trading organization.
11. Mention any three limitations of Financial Statements. 1x3=3
12. From the following Receipts and Payments Account for the year ended 31st December, 2015 and other details of the Sankardev Club, prepare an Income and Expenditure Account for the year ended 31st December, 2015: 5
Additional Information:
a) Outstanding Subscription Rs. 2,500/-
b) Outstanding Salaries Rs. 1,000/-
c) Subscription for 2015 Rs. 400/- received in 2014.
Or
Mention any five distinctions between Receipts and Payments Account and Income and Expenditure Account. 5
13. From the following details, calculate cash from Investing and Financing Activities: 5
During the year, machinery costing Rs. 15,000/- was sold at a loss of Rs. 3,000. Depreciation on machinery charges during the year amounted to Rs. 9,000.
Or
Explain any five advantages of Cash Flow Statement. 1x5=5
14. From the following details, calculate Gross Profit and Sales: 2 ½ x2=5
Average Stock = 60,000/-
Stock Turnover Ratio = 6 times.
Selling Price is 20% above cost.
Or
Name any five ratios used for analyzing the liquidity position of a Firm. 1x5=5
15. Partha, Pranoy and Prasanna are partners sharing profits and losses in the ratio of 3: 2: 1. On 31st March, 2015, their Balance Sheet stood as follows:
Balance Sheet
Pranoy retires on that date under the following terms:
a) The Goodwill of the firm is valued at Rs. 36,000/-
b) Plant & Machinery is to be depreciated by 10%.
c) Inventory and Buildings are to be appreciated by 20% and 10% respectively.
Give necessary Journal entries in the books of the firm. 5
Or
Explain the procedure of forfeiture of shares. 5
16. Anupam, Binoy and Chandan were partners in a firm sharing profits in the ratio of 2: 3: 5. On 31st March, 2014, their Balance Sheet was as follows:
Balance Sheet
Anupam died on 1st October, 2014. It was agreed between his executors and the remaining partners that:
a) Goodwill will be valued at 3 years purchase of the average profits of the last four years which were :
b) Machinery and Furniture be valued at Rs. 36,000/- and Rs. 56,000/- respectively.
c) Profit for the year 2014-15 be taken as having accrued at the same rate as that of the previous year.
d) Interest on capital be provided at 10% p.a.
e) The amount due to Anupam shall be transferred to his Executor’s Loan Account.
Prepare Anupam’s Capital Account as on the date of his death. 5
Or
What are the causes of retirement of a Partner from a Partnership firm (any five causes) 1x5=5
17. R, M and H were in partnership sharing profits and losses in the ratio of 8: 5: 3 respectively. The firm’s balance sheet as on 31st March, 2015 was as under:
Balance Sheet
It was resolved to dissolve the partnership as on that date. The assets were realised as follows:
Prepare Realisation Account. 5
Or
What do you mean by dissolution of a Partnership? State three grounds for dissolution of Partnership. 2+3=5
18. Give the new format of the Balance Sheet of a Company (main headings only) as per the requirements of revised Schedule – VI of the Companies Act, 1956. 5
Or
How would you compute the amount due to a deceased Partner’s Executor? 5
19. Following is the Trial Balance of SUDIP AND PRADIP as on 31st March, 2015: 8
Prepare the Profit & Loss Account and the Profit & Loss Appropriation Account of the firm for the year ended 31st March, 2015 and a Balance Sheet as on that date after taking into consideration the following additional information:
a) Depreciation Plant & Machinery @ 10% p.a.
b) Prepaid Publicity Rs. 500/-
c) Outstanding Salaries Rs. 1,150/-
d) Provide for doubtful debt @ 5% on Sundry Debtors.
e) Partners will get interest on capital @ 5% p.a.
20. Assam Tea Ltd. has an authorized capital of Rs. 10, 00,000/- divided into Rs. 1, 00,000 equity shares of Rs. 10/- each. The directors decided to issue 50,000 shares to the public at a premium of 10% payable as follows:
On Application Rs. 3/-
On Allotment (including premium) Rs. 5/-
And the balance on 1st and final call.
The company received applications for 60,000 shares. The directors decided to reject the excess applications and the money thereon was refunded. All the shares were duly subscribed for, called up and paid up. Give Journal entries and prepare a Cash Book in the books of the Company. 8
Or
Write short notes on: 2x4=8
a) Call in Arrear.
b) Calls in Advance.
c) Preference Share.
d) Right Share.
21. Tata Motors Ltd. invited applications for the issue of 3,000, 10% debentures of Rs. 100/- each at a discount of 10% payable Rs. 30/- on application, Rs. 30/- on allotment (after deducting discount) and the balance on first and final call. All the debentures were subscribed and the debenture money was duly called and paid up. Give Journal entries and show how Debentures Account will be shown in the Balance Sheet of the Company. 8
Or
Give the accounting entries for issue of debentures under different situations with imaginary figures. (Any four situations) 2x4=8
22. A and B are two partners sharing profits and losses in the ratio of 3: 2. Their Balance Sheet as on 31st March, 2015 was as follows:
Balance Sheet
On 01-4-2015, C was admitted as a new partner for 1/4th share in the future profits on the following conditions:
a) C will bring Rs. 20,000/- as Capital and Rs. 6,000/- as premium for goodwill.
b) The Land & Buildings will be revalued at Rs. 35,000/-
c) Plant & Machinery and Furniture will be depreciated by 5% and 10% respectively.
d) Stock will be reduced by Rs. 2,000/-
Give Journal entries and prepare the Balance Sheet of the firm after C’s admission. 6+2=8
Or
Give the Accounting entries relating to forfeiture and re-issue of shares with imaginary figures. 8
Q1: What is the full form of ASSEB?
A: ASSEB stands for the Assam State School Education Board Division-I. It conducts examinations for Class 11/12 students in Assam.
Q2: Where can I Download Assam Board HS 2nd Year Accountancy Question Paper in PDF?
A: The Accountancy paper is usually of 80 marks, and the duration of the exam is 3 hours. You can get ASSEB Class 12 Accountancy Question paper only in The Treasure Notes No. 1 Educational Website in Assam.
Q3: Is the Accountancy paper divided into sections?
A: Yes, typically the paper is divided into two main parts:
Part A: Accounting for Partnership Firms and Companies
Part B: Financial Statement Analysis or Computerized Accounting (students choose one)
Q4: Where can I get all the Previous Year ASSEB Class 12 Accountancy Questions Papers 2012 to 2025?
A: Assam Board Class 12 Students can all the PYQ's of Accountancy Class 12 only on The Treasure Notes an educational website of Assam.
Q5: How can I score well in the ASSEB Class 12 Accountancy exam?
A: Practice previous year papers, understand the concepts thoroughly, avoid rote learning, and focus on formats and calculations. Time management is key during both preparation and the actual exam.
The Class 12 ASSEB Accountancy Question paper 2016 can feel intimidating at first glance, but with smart preparation, clear concepts, and regular practice, it becomes much more manageable. Whether it's partnership accounting, company accounts, or ratio analysis, every topic is a stepping stone toward scoring high.
Remember, the goal isn't just to memorize — it's to understand how financial information works in the real world. So take your time, stay consistent, and use resources like this Assam Board HS 2nd Year Accountancy Question Paper 2016 to boost your confidence.
You've got this — now go ace that exam! 💯📚