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 2017 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 2017 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 2017 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 2017
Full Mark : 100
Time : 3:00 hr
The figures in the margin indicate full marks for the questions
1. (a) Fill in the blanks with appropriate word/words: 1x4=4
Unrecorded assets when realized are credited to ____ Account.
When Partner’s Capital Accounts are fixed, their ____ Accounts are prepared.
Partner’s Loan Account is paid before payment of ____.
If a partner takes over a liability of the firm, the partner’s capital account is ____.
(b) Choose the correct alternative: 1x2=2
Financial Statements are
Summarized reports of recorded facts.
Detailed reports of the recorded facts.
Summarized reports of only cash transactions.
None of the above.
Financial Statements of a company include:
Only Balance Sheet.
Only Profit and Loss Account.
Only Cash Flow Statement.
All of the above.
(c) State whether the following statements are true or false: 1x2=2
Financial analysis is used only by the creditors.
The decreased partner’s executor is entitled to a share of profit for the period upto his/her death.
2. What is a Capital Fund? 2
3. Ram, Shyam and Hari are partners sharing profits in the ratio of 2:2:1. Hari retires. Ram and Shyam have decided to share future profits and losses in the ratio of 2:1. Calculate the gaining ratio. 2
4. Mention any two features of debentures. 2
5. Assam Tea Ltd. decided to forfeit 1,000 shares of Rs. 20/- each for non-payment of allotment money of Rs. 5/- each and 1st and final call money of Rs. 2/- each. Give journal entry for the forfeiture of shares. 2
6. Mention any two methods of valuation of Goodwill. 2
7. What are the sources of Cash Flows as per AS-3 (Revised)? 3
Or
From the following details, calculate Current Ratio: 3
8. Explain the meaning of financial statements. 3
Or
What is trend analysis? Mention its usefulness. 1+2=3
9. What is Common Size Statement? What do they show? 1+2=3
Or
Explain any one Method of Valuation of Goodwill. 3
10. State any three features of Receipts and Payments Account. 3
Or
Explain the meaning of Fund-based Accounting. 3
11. Mention any three limitations of Financial Statements. 1x3=3
12. Guwahati Sports Club has a Cash and Bank balances of Rs. 5,000/- and Rs. 10,000/- respectively on 01/04/2015. From the following details, prepare a Receipts and Payments Account for the year ended 31/03/2016: 5
Or
Mention any five distinctions between Receipts and Payments Account and Income and Expenditure Account. 5
13. From the following information, ascertain “Cash Flow from Investing Activities”: 5
Or
Explain the meaning of Cash Flow Statement. Mention any three objectives of Cash Flow Statement. 2+3=5
14. From the following information, calculate (i) Current Assets (ii) Current Liabilities and (iii) Quick Ratio. 5
Working Capital = Rs. 40,000/-
Current Ratio = 2:1
Stock = Rs. 30,000/-
Or
What do you mean by Activity Ratios? Explain the method of calculating any one of Activity Ratios. 2 ½ +2 ½=5
15. The Balance Sheet of Ram, Shyam and Hari who were sharing profits in proportion to their capital stood as follows on 31st March, 2016:
Balance Sheet
Shyam retired on the above date on the following terms and conditions:
That stock be depreciated by Rs. 1,000/-
That Building be appreciated by 20%.
Pass the necessary journal entries and prepare the opening Balance Sheet of the new firm. 5
Or
Explain the issue of shares at par, at a discount and at a premium.
16. A, B and C were partners in a firm sharing profits in the ratio of 3:2:1. Their Balance Sheet as on 31/03/16 was as follows:
A died on 30/09/2016. Under the agreement, the executors of the deceased partner were entitled to:
Amount outstanding to the credit of partner’s capital account.
Interest on capital at 12% per annum.
Share of goodwill on the basis of four year’s purchase of the average profit of last three years.
Share of profit from closing of the last financial year to the date of death on the basis of last year’s profit.
Profits for the last three years were:
Prepare A’s capital Account on the date of his death. 5
Or
How would you compute the amount due to a retiring partner or the executors of a deceased partner? 5
17. Akash and Bikash are partners sharing profits in the ratio of 3:2. Their Balance Sheet as on 31/03/2016 was as follows:
Balance Sheet
The firm is dissolved on the above date. Assets are realized at Rs. 60,000/- Dissolution expenses came to Rs. 2,000/- 5
Or
Explain any five distinctions between Revaluation Account and Realisation Account. 5
18. What do you mean by preliminary expenses? Mention the items which are usually included in the list of preliminary expenses. 2+3=5
Or
Give the new format of the Balance Sheet of a company (main headings only) as per the requirements of the revised Schedule-VI of the Companies Act. 5
19. Following is the Trial Balance of ANIMA and PRATIMA as on 31st March, 2016:
Trial Balance
Prepare the Profit & Loss Account and the Profit & Loss Appropriation Account of the firm for the year ended 31st March, 2016 and a Balance Sheet as on that date after taking into consideration the following additional information: 8
Depreciate Machinery @ 10% per annum.
Partners will get interest on capital @ 10% per annum.
20. NE Traders Ltd. issued 5,000 shares of Rs. 20/- each at a par payable as follows:
Rs. 5/- on Application
Rs. 5/- on Allotment
Rs. 5/- on First Call
Rs. 5/- on Second and Final Call
All the shares were duly subscribed for, called up and paid up. Show the necessary entries in Cash Book and Journal of the company for the above transactions. 8
Or
Write short notes: 2x4=8
Minimum Subscription.
Authorised share Capital.
Reserve Capital.
Preference share.
21. Give the journal entries in respect of the following: 8
Debentures issued at par, redeemable at a premium.
Debentures issued at a premium, redeemable at par.
Debentures issued at a discount, redeemable at par.
Debentures issued at a discount, redeemable at premium.
Or
Explain the different methods of redemption of debentures. 8
22. Ram and Shyam are partners in a firm sharing profits and losses in the ratio of 3:1. Their Balance Sheet as on 1st April, 2016 was us under:
Balance Sheet
On that date, Barun was admitted as a new partner. He paid Rs. 30,000/- towards his capital, but was unable to bring his share of Goodwill of Rs. 6,000/- in cash. The new profit sharing ratio was agreed to be 3:2:2.
Pass Journal entries in the books of the new firm and show the Balance Sheet of the new firm. 8
Or
What do you mean by debenture? Explain any six points of distinctions between shares and debentures. 2+6=8
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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 2017 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 2017 to boost your confidence.
You've got this — now go ace that exam! 💯📚