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 2023 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 2023 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 2023 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.
2023
ACCOUNTANCY
Full Marks: 80
Pass Marks: 24
Time: Three hours
1. (a) Fill in the blanks with appropriate word/ words: (any four) 1x4=4
(i) Equity shareholders are _______of the company.
(ii) Receipts and Payments account is a summary of _________transactions.
(iii) Maximum number of members in a partnership business is ________.
(iv) In the absence of any agreement at the time of retirement of partner goodwill is to be adjusted in ______ratio.
(v) Profit and Loss Account is also known as _______statement.
(b) State whether the following statements are True or False: 1x2=2
(i) A company has a separate legal entity different from its members.
(ii) Quick Assets = Current Assets – Inventory – Prepaid Expenses.
(c) Choose the correct alternative: 1x2=2
(i) The portion of the capital which can be called up only on the winding up of the company is called:
(a) Authorised capital
(b) Uncalled capital
(c) Reserve capital
(d) Issued capital
(ii) Donation received for a specific purpose is a:
(a) Capital Receipt
(b) Revenue Receipt
(c) Asset
(d) Liability
2. What is a Registered Debenture? 2
Or
What is ‘Data validation’?
3. What is Goodwill of a business? 2
4. What is meant by Cash Flow from Operation Activities? 2
5. A and B are partners sharing profits and losses in the ratio of 5:3. C is admitted as a new partner for ½th share, which he acquires 1/6th from A and 1/12th from B. Calculate the new profit sharing ratio. 2
Or
Mention two rights of a partner. 2
6. Write two limitations of ratio analysis. 2
Or
Mention two limitations of financial statements. 2
Or
What is sequential code? 2
7. What is the meaning of Cash Flow from Investing Activities? 2
Or
What is meant by the term ‘Cash Equivalents’? 2
Or
Write a note on ‘Queries’. 2
8. Write any three essential features of partnership. 3
Or
Write three distinctions between ‘Profit and Loss Account’ and ‘Profit and Loss Appropriation Account’.
9. Give any three differences between equity shares and preference shares. 3
Or
Explain the following terms: 3
(i) Calls-in-arrears
(ii) Calls-in-advance
Or
Describe three uses of the Spreadsheet. 3
10. Calculate the income from subscription for the year 20 21 from the following information:
Subscription received during the year 2021 - Rs. 70,000.
Or
Mention three objectives of preparing financial statements.
Or
Explain Database Management System
1. Current Liabilities of a company were Rs.60,000 and its current ratio was 2: 1 on 30th March, 2021. On 31st March, 2021, the company paid Rs. 20,000 to a creditor. Calculate the current ratio after the payment. 3
Or
Mention three differences between ‘Capital account’ and ‘Current account’. 3
or
Describe the three features of spreadsheet.
12. Prepare a Comparative Income Statement from the following particulars: 6
Or
What is meant by analysis of financial statements? Explain in brief the tools of financial statements? Explain in brief the tools of financial analysis. 1+5=6
Or
Give the limitations of computerised accounting system. 6
13. What is meant by issue of debentures as Collateral Security? Mention four differences between shares and debentures. 2+4=6
Or
Explain the objectives of Database Management System (DBMS)? 6
Or
Give Journal entries for issue and redemption of debentures under the following situations: 2x3=6
(a) 1,000 12% debentures of Rs. 100 each, issued at premium of 5% and redeemable at par.
(b) 2,000, 12% debentures of Rs. 100 each, issued at 5% discount and redeemable at a premium of 5%.
(c) 3,000, 12% debentures of Rs. 100 each, issued at par and redeemable at a premium of 5%.
14. A, B and C were in partnership sharing profits and losses equally. On 31st December, 2021 their Balance Sheet was as follows: 6
Balance Sheet
The firm took a joint life policy for Rs. 9,000 payable on the first death.
C died on 31st March, 2022. Under the partnership agreement the executors of a deceased partner were entitled to:
(i) Amount standing to the credit of deceased partner’s capital account.
(ii) His share of goodwill on the basis of twice the average of the past three years’ profits.
(iii) Share of profit from the closing of the last financial year to the date of death on the basis of last year’s profits.
(iv) Interest on capital @ 5% p.a.
(v) Profits for the last three years were:
2019 = Rs. 6,000
2020 = Rs. 8,000
2021 = Rs. 7,000
Prepare C’s capital account on the date of his death.
Or
Prepare Income and Expenditure Account from the following Receipts and Payments Account and other details of ‘Parizat’ club for the year ended 31st December, 2021: 6
Receipts and Payments Account
Other details:
(i) Total of Entrance Fee and Life Membership Fee are to be capitalised.
(ii) Depreciation on Sports Goods is Rs. 2,500.
(iii) Book value of the furniture sold was Rs. 1,500 on the date of sale.
Or
How would you compute the amount due to a retiring partner? 6
15. Sunu, Nanu and Nidhi are partners in a firm sharing profits in the ratio of 2:1:1. Their Balance Sheet as on 31st March, 2021 was as under: 6
Balance Sheet
The firm was dissolved on the above date. The assets realised as follows:
Furniture – Rs. 20,000
Land and Building – Rs. 1,00,000
Plant and Machinery – Rs. 50,000
Motor Car – Rs. 28,000
Debtors – 50% of Book Value
Realisation Expenses were Rs. 2,000
Prepare Realisation Account, Partner’s Capital Account and Cash Account to close the books of the firm.
Or
Write the situations when a partnership firm is dissolved by the court. 6
16. Amlan Company Limited issued 50,000 equity shares of Rs. 10 each at a premium of Rs. 2 each, payable as under:
On Application – Rs. 2
On Allotment – Rs. 5
On First and Final Call – Rs. 5
The shares were fully subscribed, called up and paid-up except allotment and call money on 500 shares. These shares were forfeited.
Give journal entries in the books of the company.
Or
Write short notes on: (any four) 2x4=8
(a) Securities Premium
(b) Over Subscription
(c) Re-issue of forfeited shares
(d) Unissued Capital
(e) Current asset
(f) Current asset
Or
Explain the steps involved in Computerised Accounting System in detail. 8
17. (a) Explain the average profit method of valuation of goodwill. 3
(b) What is revaluation account? 2
(c) How the adjustment of capitals is made at the time of admission of a new partner? 3
Or
Nitul and Atul are partners in a firm sharing profits in the ratio 2:1. Pranjal is admitted into the firm as a new partner with 1/4th share in profit. He will bring Rs. 30,000 as his capital. The Balance Sheet of Nitul and Atul as on 31.3.2020 was as under: 8
Balance Sheet
Other terms of the agreement are as under:
(i) Pranjal will bring in Rs. 12,000 as his share of goodwill.
(ii) Building was valued at Rs. 45,000 and Machinery at Rs. 23,000.
(iii) A reserve for bad debt is to be created at 6% on debtors.
Prepare Revaluation Account, Partner’s Capital Account and the Balance Sheet of the new firm.
18. Amit and Aditya are partners in a firm sharing profits and losses in the ratio of 3:1. The Trial Balance of the firm as on 31st December, 2022 was as under:
Trial Balance
Additional Information:
(i) Prepaid publicity Rs. 500
(ii) Commission received in advance Rs. 200
(iii) Provide for doubtful debts @ 5% on Sundry debtors.
(iv) Allow interest on partners’ capital @ 5% p.a.
From the above Trial Balance and additional information, prepare a Profit and Loss Account, a Profit and Loss Appropriation Account for the year ended 31st December, 2022 and a Balance Sheet as on that date.
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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 2023 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 2023 to boost your confidence.
You've got this — now go ace that exam! 💯📚