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 2012 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 2012 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 2012 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 2012
ACCOUNTANCY
Full Marks: 100
Pass Marks: 30
Time: Three Hours
Q.1: (A) Fill in the blanks with appropriate word: 1x4=4
(i) Income and Expenditure Account records transactions of --------------- nature.
(ii) On admission, unrecorded assets brought into account are credited to ------------- account.
(iii) A company can issue shares at a discount only if at least ------------ year has elapsed since the company became entitled to commence the business.
(iv) If a partner takes over an asset, such partner’s capital accounts is --------------
(B) Choose the correct alternative: 1x2=2
(i) Subscription received in advance is treated as:
(a) An income
(b) An asset
(c) A liability
(d) Capital
(ii) Profit on revaluation of assets and liabilities is shared by the old partners in:
(a) Sacrificing ratio
(b) New ratio
(c) Old ratio
(d) Gaining ratio
(C) State whether the following statements are true or false. 1x2=2
(i) Dissolution of firm and dissolution of partnership are two distinct legal concepts.
(ii) Discount on reissue of forfeited shares cannot exceed the amount received on forfeited shares.
Q2: Give the adjustment entry required for recording interest on capital when Capital Account is maintained under Fixed Capital method. (2)
Q3: What is meant by ‘Gaining Ratio ‘on retirement of a partner? (2)
Q4: What is meant by ‘Loss on issue of debenture’? (2)
Q5: What are the types of Financial Statements Analysis? (2)
Q6: What do you mean by Ratio Analysis? (2)
Q7: Mention three Features of Receipts and Payments Accounts. (3)
Q8: Mention three situations when valuation of goodwill becomes necessary. (3)
Q9: Write three points of distinction between Shares and debenture. (3)
Q10: Give three characteristics of an ideal financial statement. (3)
Q11: Give three objectives of Ratio Analysis. (3)
Q12: From the following information, ascertain the amount of subscription to be credited to the Income and Expenditure Account for the year 2012. (5)
(i) Subscription received during the year Rs 11,750 (including Rs 1000 for 2011 and Rs 500 for 2013)
(ii) Subscription received in 2011 for 2012 Rs 700
(iii) Subscription outstanding on 31st December 2012 Rs 900
OR
Give five points of Distinction Existing between Receipt and Payments Accounts and Income and Expenditure Account. (5)
Q13: A and B are partners sharing profits in the ratio of 5:4. They admit C in the firm for 1/4th Share of profit. C takes 3/16th from B. C brings in Rs 25,000 as capital and Rs 8,000 as premium for goodwill. The partners withdraw 40% of their respective share of premium. Pass the necessary Journal entries on C’s admission. (5)
OR
What is super profit? What are the steps to be followed for valuation of goodwill under super profit method? 1+4=5
Q14: Can a company issue shares at a premium? If so, state the purpose for which the share premium account can be utilised? (5)
OR
Distinguish between Equity share and Preference shares giving five points of differences.
Q15: Show by means of Journal entries how you will record the following issue: (5)
(a) A. Ltd. Issues 6,000, 10% debenture of Rs 100 each at a discount of 5%, redeemable at the end of 5 year at par.
(b) B. Ltd. issue 7,000, 11% debenture of Rs 100 each at par, redeemable at the end of 5 year at a premium of 5%.
(c) X. Ltd. issue 8,000, 12% debenture of Rs 100 each at a discount of 5%, redeemable at the end of 5 year at premium of 5%.
OR
What is meant by redemption of debenture? State any three methods of redemption of debenture. (2+3=5)
Q16: Name the major headings under which the liabilities side of a company’s Balance Sheet is organised and presented. (5)
OR
Discuss any five limitations of Financial Statements
Q17: Prepare a comparative income Statements of Sunny Ltd. with the help of the following information. (5)
OR
What do you understand by Financial Statement Analysis? Discuss its importance to management. (Any four points). (1+4=5)
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Also Read:
➣ ASSEB Class 12 Accountancy Paper 2013
➣ ASSEB Class 12 Accountancy Paper 2014
➣ ASSEB Class 12 Accountancy Paper 2015
➣ ASSEB Class 12 Accountancy Paper 2016
➣ ASSEB Class 12 Accountancy Paper 2017
➣ ASSEB Class 12 Accountancy Paper 2018
➣ ASSEB Class 12 Accountancy Paper 2019
➣ ASSEB Class 12 Accountancy Paper 2020
➣ ASSEB Class 12 Accountancy Paper 2021
➣ ASSEB Class 12 Accountancy Paper 2022
➣ ASSEB Class 12 Accountancy Paper 2023
➣ ASSEB Class 12 Accountancy Paper 2024
➣ ASSEB Class 12 Accountancy Paper 2025
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Q18: Ascertain Cash Flows from operating activities under the Direct Method from the Following data Related to the accounting year 2010 – 11 (5)
Total sales :44,000 (Cash Rs 4,000, Credit Rs 40,000)
Cash received from customers : 35,000
Closing Account Receivables: 8,000
Cash paid to Suppliers: 42,000
Cash paid to employees: 7,000
Furniture purchased from (M/s. Decorators on credit): 9,000
Income tax paid :3,000
Donation paid: 1,000
Office expenses, total Rs 6,000, paid: 3,000
OR
What is Cash Flow Statement? Briefly explain any four objectives of preparing a Cash Flow Statement. (1+4=5)
Q19: Choudhury and Barua are partners in a firm sharing profit and losses in the ratio 50:50 respectively. The Trial Balance of the firm as on 31st March, 2011 was as follows:
Trial Balance
Prepare Profit and loss Account, Profit and Loss Appropriation Account for the year ended 31st March, 2011 and a Balance Sheet as at that date after taking into consideration the following.
(a) Outstanding Expenses – Salaries Rs 300, Interest on Bank overdraft Rs 225
(b) Machine worth Rs 15,000 purchased on 1st Oct, 2010.
(c) Provide depreciation on machinery and furniture @ 10% p.a. and on Building @ 21/2 % p.a.
(d) Interest on capital to be allowed @ 10% p.a.
(e) Prepaid Insurance Rs 150.
(f) Partners are entitled to salary of Rs 1,000 per annum each.
Q20: Ashok publications Ltd. issues 3,000 shares of Rs 10 each, payable as follow: (8)
On Application Rs 2
On Allotment Rs 3
On first call Rs 2 And the balance when required.
3,200 shares were applied for, application for 3000 was accepted by the Directors and the balance application was rejected and money returned. Allotment money was duly received and first call was received on 2950 shares. Pass journal entries in the books of the company for the above transactions.
OR
What do you mean by ‘forfeiture of share’? Discuss the procedure of forfeiture of share and re-issue of such share.
Q21: Kumar and Guarav are partners sharing profit and losses as three-fourth and one-fourth. They agreed to dissolve their firm. On the date of dissolution, they have following Balance sheet: (8)
The Assets Realised as follows:
(i) Land and Building Rs.48, 000
(ii) Sundry Debtors Rs.18, 000
(iii) Goodwill Rs.16, 500
Kumar took over plant and machinery at 5% more than the book value. Gaurav agreed to discharge his wife’s loan. Creditors are paid Rs.12, 000 in full settlement of their claim and expenses on realisation amounted to Rs.700. You are required to show Realisation Account, Cash Account and Capital Accounts of the Partners on dissolution.
OR
What do you mean by Dissolution of a Firm? Mention Difference Between dissolution of a Firm and Partnership.
Q22: X, Y and Z were partners in firm Sharing profit in 5:3:2 ratios. On 31st march, 2011 Z retired from the firm. On the date of Z’s retirement, the Balance Sheet of the Firm Was as Follows: (8)
Balance Sheet of X, Y, Z as at 31st March 2011
On Z’s retirement it was agreed that:
(a) Land and building will be appreciated by 5% and furniture will be depreciated by 20%
(b) Provision for Doubtful debts will be made at 5% on Debtor and provision for legal claim will be made at Rs. 60,000.
(c) Goodwill of the firm was valued at Rs.60, 000
(d) Rs. 70,000 from Z’s Capital Account will be transferred to his loan account and the balance will be paid to him by cheque.
Prepare Revaluation Account, Partners Capital Accounts and Balance sheet of X and Y after Z’s Retirement.
OR
Explain the term “Reconstitution of a firm”. Mention the situations when such reconstitution of a firm takes place. (3+5=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 2012 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 to boost your confidence.
You've got this — now go ace that exam! 💯📚