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 2024 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 2024 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 2024 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.
2024
ACCOUNTANCY
For New Course Students
Full Marks: 80
Pass Marks: 24
Time: Three hours.
CODE: 34T ACOU
The figures in the margin indicate full marks for the questions.
1. (a). Fill in the blanks with appropriate word/words (any four) 1×4= 4
(i). Partners current accounts are prepared when the capital accounts are_ _ _ _ _ _ _ _ .
(ii). A company is a separate _ _ _ _ entity, It is a separate entity from its members.
(iii). Current ratio is the relationship between current assets and _ _ _ _ _ _ _ .
(iv). Equity Shareholders are _ _ _ _ _ of a company.
(v). At the time of dissolution of partnership firm, assets are transferred to Realisation Account at _ _ _ _ value.
(b). State whether the following statements are 'True' or 'False': 1×2=2
(i). Debentureholders do not have right to vote in the meetings of the company.
(ii).Premium for goodwill is shared in gaining Ratio.
(C) Choose the correct alternative: 1×2=2
(i). The portion of the authorised capital which is offered to the public for sale in the form of shares is called….?
(a) subscribed capital
(b) issued capital
(c) called-up capital
(d) paid-up capital
(ii) In the absence of partnership deed, the rate of interest allowed on partner's capital is …….?
(a) 6%
(b) 5%
(c) 6.5%
(d) None of the above
Q. 2. What do you mean by re-issued of forfeited share ? 2
Q. 3. Write any two demerits of partnership business. 2
Q. 4. Mention two features of a debenture. 2
OR
Q. Write the meaning of Cash flow from investing activities'. 2
Q. 5. Give two circumstances under which the fixed capitals of partners may change. 2
OR
Q. Why is Profit and Loss Adjustment Account prepared? 2
Q. 6. What is meant by 'calls-in-advance' ? 2
Q. 7. Mention two limitations of financial statement Analysis. 2
OR
Q. What is meant by the term 'cash equivalents'? 2
Q. Write three situations when a partnership firm is compulsorily dissolved. 3
Q. 9. Give any three items that can be shown under the heading 'Reserves and Surplus' in a company's Balance Sheet. 3
OR
Name any three items of current assets. 3
10 Current liabilities of a company are 23,50,000. Its current ratio is 3:1 and liquid ratio is 1.75 :1
OR
Mention any three objectives of preparing a comparative statement. 3
OR
What is computerised accounting system? 3
Q. 11. A and B are partners sharing profits and losses equally. They have admitted C into the firm. A has surrendered 1/3 of his share and B has surrendered 1/6 of his share in favour of C. Ascertain the new profit sharing ratio. 3
OR
Explain in brief the 'average profit method' of goodwill valuation. 3
OR
Write three advantages of using graphs. 3
12. Prepare a Common Size Income Statement of Maina Ltd. from the following informations:
OR
Explain in brief the tools of financial analysis. 6
OR
Explain the concepts of 'data validation' and 'data verification'. 6
13. Give Journal entries in the books of Pakhi Ltd. for issue of debentures under the following situations: 1+1+1+1+2=6
(a) Issued 5,000, 8% debentures of ₹ 100 each at par redeemable at 5% premium after 4 years.
(b) Issued 6,000, 9% debentures of ₹100 each at 5% premium, redeemable at par after 4 years.
(e) Issued 7,000, 10% debentures of 2 100 each at 5% discount, redeemable at par after 4 years.
(d) Issued 8,000, 10% debentures of 2 100 each at 5% premium, redeemable at 10% premium after 4 years.
(e) Issued 5,000, 9% debentures of ₹ 100 each to the vendors for purchasing machinery of ₹5,00,000.
OR
Q. Give six points of distinctions between a share and a debenture.
OR
Q. Explain the applications of Spreadsheet in Accounting. 6
14. Susanta, Ananta and Diganta were in partnership sharing profits and losses in the ratio of 3:2:1. On 1.1.2023. Susanta retires from the firm. On that date Balance Sheet of the firm was as follows:
BALANCESHEET
The terms of the retirement were:
(i) Goodwill of the firm were valued at 21,20,000.
(ii) Land and Building to be appreciated by 20,000.
(iii) Provision for Bad Debts to be made @ 2% on debtors.
(iv) Furniture to be depreciated by ₹4,000.
(v) Susanta's capital is to be transferred to his Loan Account.
Give Journal entries relating to the above transactions.
OR
Explain how the amount due to a deceased partner is ascertained? 6
15. Distinguish between dissolution of partnership and dissolution of firm.
OR
Ravi and Vicky are partners in a firm sharing profits and losses in the ratio of 3:2. They decided to dissolve their firm on 31st December, 2022. Their Balance Sheet on that date was as under:
Ravi took over the investments at an agreed value of 23,800. Other assets were realised as follows:
Furniture - 218,000
Debtors 90% of Book value
Stock 22,800
Creditors of the firm agreed to accept 5% less. Expenses of realisation amounted to 2400. Close the firm's books by preparing a Realisation Account, Partners' Capital Accounts and Bank Account. 6
16. Anvi Ltd. has issued 10,000 equity shares of ₹10 each at a premium of 22 each payable as follows: 8
On Application - 22
On Allotment 25 (including premium)
On First and Final Call - 25
The shares have been fully subscribed, called up and paid-up except the following:
(a) Allotment and First and Final Call money on 500 shares held by Ritu, and
(b) First and Final Call money on 600 shares held by Jitu.
All these shares have been forfeited and re-issued at 10% discount as fully paid.
Give Journal entries in the books of the company.
OR
For what purposes 'securities premium' can be used? 5
(b) Write three distinctions between equity share and preference share.
OR
What are the steps involved in installation of computerised Accounting system (CAS)? 8
17. Mera and Karan are partner in a firm any profit in the ratio of 3:2 on April 1st 2022 their balance sheet was as under:
On the above date, they admitted Sunil as a new partner on the following terms:
(i) Sunil will bring ₹50,000 for his capital.
(ii) He would get 1/5th share in the future profits
(iii) Goodwill of the firm is valued at ₹1,20,000.
(iv) Sunil will bring necessary premium for goodwill.
Pass Journal entries to record the above transaction. Prepare Partner's Capital Accounts and Balance Sheet of the new firm.
OR
(i). Distinguish between Profit and Loss Account and Profit and Loss Appropriation Account. 5
(ii). Mention any three rights of a partner.3
18. Biswa and Pradip are partners in a firm. The Trial Balance of the firm as on 31st December, 2022 was as under:
Prepare Profit and Loss Account, Profit and Loss Appropriation Account and the Balance Sheet of the firm for the year ended 31st December, 2022 after considering the following information:
(a) Partners are to share profits and losses in the proportion of 3/5 and 2/5 respectively.
(b) Write off depreciation @ 10% on Machinery and 20% on Motor.
(c) Create a provision of 5% on Sundry Debtors for Doubtful Debts.
(d), Partners are entitled to Interest on Capital 5% per annum and Pradip is entitled to a salary of 2 1,800 per annum.
For Old Course: fin lieu of Project Works)
19. Answer the following questions: (any four) 5×4= 20
(a) Write distinctions between, Fixed Capital Account and Fluctuating Capital Account.
(b) What is Ratio Analysis? Mention any three limitations of ratio analysis.
(c) Explain uses of Financial Statement.
(d) What is meant by Cash Flow Statement? Mention any three objectives of preparing cash flow statement.
(e) Explain the average profit method of valuation of goodwill. What is Revaluation Account?
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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 2024 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 2024 to boost your confidence.
You've got this — now go ace that exam! 💯📚