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 2019 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 2019 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 2019 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.
ASSEB Class 12 Accountancy
Question Papers 2019
ACCOUNTANCY
Full Marks: 100
Pass Marks: 30
Time: Three Hours
The figures in the margin indicate full marks for the questions
1. (a) Fill in the blanks with appropriate word / words: 1x4=4
1) The liability of every shareholder of a company is _____. 1
2) Outstanding Subscription is shown on the _____ side of the Balance Sheet. 1
3) If a partner takes over a liability of the firm, that partner’s capital account is _____. 1
4) Current ratio is the relationship between _____ assets and current liabilities. 1
(b) Choose the correct alternative: 1x2=2
1) Annual Report is issued by a company to its:
a) Directors.
b) Auditors.
c) Shareholders.
d) Management.
2) Financial statement of a company include:
a) Only Cash Flow Statement.
b) Only Profit and Loss Account.
c) Only Balance Sheet.
d) All of the above.
(c) State whether the following statements are ‘True’ or ‘False’:
1) The deceased partner is entitled to a share of profit for the period upto his death. 1
2) Profit or Loss on revaluation of assets and liabilities is distributed among old partners in sacrificing ratio. 1
2. Give two distinctions between a not-for-profit organization and a trading organization. 2
3. A and B are two partners sharing profits and losses in the ratio of 3 : 2. C admitted as a new partner for 3/10th share which he acquires 2/10th from A and 1/10th from B. Calculate new profit sharing ratio. 2
Or
Give two conditions under which a partnership firm is dissolved.
4. Mention any two features of a debenture. 2
5. What is the meaning of Cash Flow from Investing Activities? 2
6. What is meant by “super profit” in relation to valuation of goodwill? 2
7. Mention three objectives of preparing financial statements. 3
8. Calculate liquid ratio from the following information: 3
Or
What is Comparative Statement? Mention two objectives of preparing Comparative Statement. 1+2=3
9. What are contingent liabilities? Mention any two items. 1+2=3
Or
Explain the average profit method of valuation of goodwill. 3
10. Calculate amount of medicines consumed to be shown in the Income and Expenditure A/c for the year ended 31-12-2018: 3
Amount paid for medicines during 2018 was Rs. 10,800/-
Or
Mention any three distinctions between Receipts and Payments A/c and Income and Expenditure A/c. 3
11. Mention any three limitations of Financial Statements. 3
Or
Write three objectives of preparing Realization Account. 3
12. North East Club had a Cash balance of Rs. 20,000/- and Bank balance of Rs. 35,000/- respectively on 01/04/2017. From the following details prepare a Receipts and Payments A/c for the year ended 31/03/2018: 5
Or
Explain in brief the treatment of the following items in preparation of Income and Expenditure Account: 5
1) Subscription.
2) Life Membership Fee.
3) General Donation.
4) Specific Donation.
5) Legacy.
13. What is Cash Flow Statement? Explain its three limitations. 2+3=5
Or
From the following information calculate the cash from operating activities:
14. A business has a current ratio of 3 : 1 and a quick ratio of 1 : 2 : 1. If the Working Capital is Rs. 1,80,000, calculate current assets and stock. 5
Or
What are profitability ratios? What is the significance of gross profit and operating profit ratio? 3+2=5
15. A, B and C were partners sharing profits in the ratio of 3 : 2 : 1 respectively. Balance sheet of the firm as at 31st March, 2017 stood as follows: 5
Balance Sheet
“B” retired on the above date on the following terms:
1) Building to be appreciated by Rs. 8,800.
2) Provision for doubtful debts to be made @ 5% on debtors.
3) Goodwill of the firm be valued at Rs. 9,000.
Pass necessary Journal Entries.
Or
What is share forfeiture? State the procedure of forfeiture of shares. 2+3=5
16. What is Partnership Deed? Mention its four principal clauses. 1+4=5
Or
Following is the Balance Sheet of P, Q, and R as on March 31, 2018. 5
Balance Sheet
Q died on June 30, 2018. Under the agreement the executors of the deceased partner were entitled to:
a) Amount standing to the credit of Partner’s Capital A/c.
b) Interest on Capital @ 5% p.a.
c) Share of goodwill on the basis of twice the average of the past three years profit.
d) Share of profit from the closing of the last financial year to the date of death on the basis of last year’s profit (2017-18)
e) Profit for the last three years were:
Prepare Q’s capital account on the date of his death.
17. Distinguish between Realization A/c and Revaluation A/c. 5
Or
A and B are partners sharing profits equally, Balance Sheet on September 2018 was as follows: 5
Balance Sheet
The firm is dissolved on the above date. Assets are realized at Rs. 49,600. Creditors allowed a discount of 2% and Dissolution Expenses came to Rs. 544.
Give Journal Entries to close the books of the firm.
18. Discuss the process for allotment of shares of a company in case of oversubscription. 5
Or
Prepare a Comparative Income Statement from the following particulars: 5
19. Following is the Trial Balance of Rana and Raju as on 31st March, 2018: 8
Trial Balance
Prepare the Profit and Loss A/c and Profit and Loss Appropriation A/c for the year ended 31st March, 2018 and a Balance Sheet of the Firm as on that date after taking into consideration the following additional information:
1) Depreciate Machinery @ 10% p.a. and Furniture @ 20% p.a.
2) Partners will get interest on capital @ 5% p.a.
3) Raju is entitled to a salary of Rs. 1,800 p.a.
4) The Profit sharing ratio between Rana and Raju was 3 : 2.
20. M. S. Limited issued 1,000 equity shares of Rs. 100 each payable as follows: 8
All the shares were duly subscribed for, called-up and paid-up, except Mr. A holding 400 shares did not pay the final call money. Show the entries in the Cash Book and Journal of the company for the above transactions.
Or
Write short notes on: 3+3+2=8
a) Redemption of Debentures.
b) Loss on Issue of Debentures.
c) Minimum Subscription.
21. S. K. issued 1,000, 12% Debentures of Rs. 100 each. Give Journal entries for Redemption of debentures in the books of the company under the following conditions: 2+3+3=8
1) Issued at Par and Redeemable at par after 5 years.
2) Issued at Par and Redeemable at a premium of 5% after 5 years.
3) Issued at a Premium of 5% Redeemable at Par after 5 years.
Or
Write short notes on: 2+2+2+2=8
1) Authorized Share Capital.
2) Calls-in-Arrear.
3) Pro-Rata Allotment.
4) Preference Share.
22. Vimal and Nirmal are partners in a firm sharing profits and losses in the ratio 3 : 2. Their Balance Sheet as on 31st December, 2018 was as under: 8
Balance Sheet
On that date Kailash was admitted as a new partner. He paid Rs. 40,000 as his capital and Rs. 20,000 for his share of goodwill. The new profit sharing ratio was agreed to be 2 : 1 : 1.
Pass Journal Entries in the books of the firm and show the Balance Sheet of the new firm.
Or
What is goodwill? Mention four factors affecting the goodwill of a firm. Mention three conditions when valuation of goodwill becomes necessary. 1+4+3=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 paper 2019 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 2019 to boost your confidence.
You've got this — now go ace that exam! 💯📚