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 2020 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 2020 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 2020 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.
2020
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
(i) Unrecorded liabilities when paid are debited to ________Account.
(ii) Life Membership Fee is a _________ receipt.
(iii) A partner acts are ________ of the firm.
(iv) A company is required to publish its ________ every year.
(b) Choose the correct alternative: 1x2=2
(i) When a new partner does not bring in his share of goodwill in cash, the amount of premium is debited to:
(a) Premium Account
(b) Cash Account
(c) Capital Account of new partner
(d) Capital Account of old partner.
(ii) Financial statements are:
(a) Summarised reports of recorded facts
(b) Detailed reports of recorded facts
(c) Summarised reports of only cash transactions
(d) None of the above
(c) State whether the following statements are “True” or “False”: 1x2=2
(i) Subscription received in advance is an asset.
(ii) Interest on debenture is payable only when a company earns profits.
2. Mention two differences between Receipts and Payments account and Income and Expenditure account. 2
3. What is Premium for Goodwill? 2
4. Give two situations under which a partnership firm is dissolve. 2
5. A, B and C are partners sharing profits in the ration 3 : 2 : 1. A retires. B and C have decided to take up A’s share equally. Calculate the new ration. 2
6. Name any two items of current assets. 2
7. Mention three uses of financial statement. 3
8. What is common size statement? Mention its two uses. 1+2=3
Or
Current Ratio is 3 : 5: 1 and Quick Ratio 2.5 : 1. Inventory is Rs. 50,000. Calculate current asset and current liabilities. 3
9. Explain the super profit method of valuation of goodwill. 3
10. State three features of Not-for-profit organisation. 3
Or
Calculate the amount of subscription to be credited to Income and Expenditure Account for the year ended 31st March, 2019. 3
(i) Subscription received during the year ended 31st March, 2019, Rs. 2,50,000.
(ii) Outstanding subscription on 1.4.2018 – Rs. 50,000.
(iii) Outstanding subscription on 31.03.2019 – Rs.35,000.
(iv) Advance subscription on 01.04.2018 – Rs. 25,000.
(v) Advance subscription on 31.03.2019 – Rs. 30,000.
11. What is gaining ratio? Give two distinctions between gaining ratio and sacrificing ratio. 1+2=5
Or
What are the items shown under shareholder’s fund? 3
12. Prepare Income and Expenditure Account from the following Receipts and Payments Account of Ekta Club for the year 31st December, 2018: 5
Receipts and Payments Account
Additional information:
(i) Outstanding subscriptions 1,000
(ii) 60% of the admission few and the whole of the life membership subscription are to calised.
(iii) Depreciation on Book 600.
Or
What is the meaning of fund-based Accounting? Mention any three principles of Fund Based Accounting. 2+3=5
13. X Ltd. made a profit of Rs. 5,00,000 after considering the following items: 5
(i) Preliminary expenses written off – Rs. 5,000
(ii) Depreciation on fixed assets – Rs. 50,000
(iii) Loss on sale of machinery – Rs. 20,000
(iv) Provision for doubtful debts – Rs. 10,000
(v) Gain on sale of Land – Rs. 7,500
Position of current assets and current liabilities:
Or
What is meant by cash equivalents? Mention any three objectives of preparing cash flow statement. 2+3=5
14. Calculate the values of opening and closing stock from the following information:
Cost of goods sold – Rs. 2,00,000
Stock Turnover Ration – 8 times
Stock at the beginning is 1.5 times more than stock at the end.
Or
What is Ratio Analysis? Mention any three uses of ratio analysis. 2+3=5
15. Ram, Shyam and Mohan were partnership sharing profits and losses in the ratio of 3 : 2 : 1. On 31.12.2018 Shyam retired from the firm, Balance Sheet of the firm on the date was under: 2+3=5
Balance Sheet
The Terms of retirement were
(i) Good will of the firm to be valued at Rs. 12,000.
(ii) Machinery to be approached by Rs. 5,000.
(iii) Furniture to be depreciated by Rs. 1,000.
(iv) Provision for bad debts to be increased by Rs. 400
Prepare Revaluation Account and Partner’s Capital Account.
Or
What is share? Explain different types of shares.
16. What is Profit and Loss Appropriation Account? Why is it prepared? 2+3=5
Or
Ajoy, Bijoy and Sanjay were preparing in a firm sharing profits in the ratio of 3: 2: 1. On 31st March Seminar Balance Sheet was as under: 5
Balance Sheet
Ajoy died on 30.9.2019. Under the partnership agreement the executors of a deceased partner were ended to:
(a) Amount standing to the credit of Partner’s Capital account.
(b) Interest on Capital @ 12% p.a.
(c) Share of goodwill on the basis of 4 years purchase of last 3 years average profit.
(d) Share of profit from the desing of the last financial year to the date of death on the basis of last year’s profit.
(e) Profit for the last three year’s were:
Prepare Ajoy’s Capital Account on the date of his death.
17. What is dissolution of partnership? How does it differ from dissolution of firm? 2+3=5
Or
Dipali and Rajshri were partner’s firm sharing, profits and losses in the ratio of 3:2. They decided to divide their firm on 31st December, 2019, when their Balance Sheet was sender: 5
Balance Sheet
Investments are sold at Rs. 3,800 other assets realised as follows:
Land – Rs. 28,000, Sundry Debtors -Rs. 18,000, Stock – Rs. 2,800. Creditors agreed to accept 5% less. Expenses of realisation amounted to Rs. 400.
Prepare Realisation Account, Partner’s Account and Bank Account
18. Explain the following terms (any two)
(i) Calls-in-advance
(ii) Under Subscription
(iii) Pro-rata allotment of shares
Or
Prepare a common size Income Statement from the following information: 5
19. Nanu and Manu are partner’s of firm. The Trial Balance of the firm as on 31st March, 2019 was under: 8
Trial Balance
Prepare Profit and Loss Account. Profit and Loss Appropriation Account and the Balance Sheet of the firm the year ended 31st March, 2019, after considering the following information:
(i) Write off Rs. 1,000 as bad debit and provide 5% provision for doubtful debts on remaining debts.
(ii) Commission received in advance Rs. 500.
(iii) Transfer 10% of Net Profit to General Reserve.
(iv) Allow Interest on Capital @ 5% p.a.
20. Bijoya Limited issued 2,000 shares of Rs. 100 each at per, payable as follows:
On Application – Rs. 30
On Allotment – Rs. 30
On First Call – Rs. 20
On Final Call – Rs. 20
All the shares were duly subscribed for, called-up and paid-up, except the following:
(a) Arnab holding 100 shares failed to pay first call and final call money.
(b) Ayushi holding 60 shares failed to pay the final money.
All the above shares were forfeited after final call.
Give journal entries in the books of the company to record the above transactions.
Or
(a) Mention three differences between shares and debentures. 3
(b) Mention Three uses of securities premium. 3
(c) What is Authorised Capital of a company? 2
21. Give journal entries in the books of PM Ltd. relating, to issue of debentures under the following conditions: 2+3+3=8
(a) 120, 8% Debentures of Rs. 1000 each issued at a discount of 5% and redeemable at per.
(b) 150, 8% Debenture of Rs. 1000 each issued at 5% discount and redeemable at 10% premium.
(c) 200, 7% Debentures of Rs. 100 each, issued at a premium of 5% and redeemable at 10% premium.
Or
Explain different methods of redemption of debentures. 8
22. Jugal and Govind are partner’s in a firm sharing profits and losses in the ratio 2:1. Their Balance Sheet as on 1st June, 2019 was as under: 8
Balance Sheet
On that date Khirod was admitted as a new partner. He paid Rs. 30,000 towards his capital but unable to pay anything for goodwill in cash. It was agreed that goodwill will be valued at Rs. 21,000. The new profit-sharing ratio among Jugal, Govind and Khirod was agreed at 3:2:1 respectively.
Pass Journal entries to record the above transactions and show the Balance Sheet of the new firm.
Or
(i) Mention any three features of partnership business. 3
(ii) Mention five distinctions between “Fixed” and “Fluctuating” Capital. 5
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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 2020 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 2020 to boost your confidence.
You've got this — now go ace that exam! 💯📚