Multiple choice Questions for Class 12 Accountancy with answers are listed below for each chapter as per the latest CBSE syllabus and NCERT curriculum. Students can download freely in PDF format and practice CBSE Class 12 Accountancy MCQs with Answers to score good marks in the examination.
Class 12 Accountancy MCQs Questions with Answers Chapter Wise PDF Download
Since MCQs are gaining more importance in Class 12 Accountancy exam, it is imperative for students to go through the multiple choice questions with answers given below. On Ribblu.com you can get the the best collection of MCQs questions for Class 12 Accounts chapter wise which have been shared by various expert teachers, students and subject experts..
Accountancy MCQ Questions for Class 12 with Answers Pdf Download
MCQ Questions for Class 12 Accountancy with Answers: Part 1 Not-for-Profit Organisation and Partnership Accounts and Part 2 Company Accounts and Analysis of Financial Statements
- MCQs for Accountancy Class 12 Chapter 11 Cash Flow Statement with Answers
- MCQs for Accountancy Class 12 Chapter 10 Accounting Ratios with Answers
- MCQs for Accountancy Class 12 Chapter 9 Analysis of Financial Statements with Answers
- MCQs for Accountancy Class 12 Chapter 8 Financial Statements of a Company with Answers
- MCQs for Accountancy Class 12 Chapter 7 Issue and Redemption of Debentures with Answers
- MCQs for Accountancy Class 12 Chapter 5 Dissolution Of Partnership Firm
- MCQs for Accountancy Class 12 Chapter 4 Reconstitution Of A Partnership Firm – Retirement/Death Of A Partner
- MCQs for Accountancy Class 12 Chapter 3 Reconstitution of a Partnership Firm – Admission of a partner
- MCQs for Accountancy Class 12 Chapter 2 Accounting for Partnership Basic Concepts
- MCQs for Accountancy Class 12 Chapter 1 Accounting for Not-for-profit Organisation with Answers
Some Additional MULTIPLE CHOICE QUESTIONS For Practice
- Salary outstanding in the beginning of the year is Rs 20,000 and at the end of the year it is Rs 40,000, if the amount Debit to Income and Expenditure Account is Rs 2,00,000, what is the cash paid to Salary Account:
(a) Rs. 2,20,000
(b) Rs. 2,40,000
(c) Rs. 1,80,000
(d) Rs. 1,40,000
- Which of the following Statement is false:
a) Fund can be created for any Purpose.
b) Fund can be invested in securities.
c) Fund is a Liability.
d) Income from Specific fund investment is a revenue receipts.
- If there is no specific fund for tournament then tournament expenses will be:
a) Shown as an asset
b) Shown as a liability
c) Deducted from capital fund
d) Shown as an expenditure
- Outstanding interest on specific fund investment:
a) Added in specific fund investment and also shown as an asset.
b) Added in specific fund and also shown as an asset
c) shown as an income and asset
d) Added in specific fund and also shown as a liability
- Which of the following statement is true:
a) General fund can use only for specific purpose.
b) General fund cannot be invested in securities.
c) General fund and Specific fund are synonyms.
d) General fund can be used for any purpose.
- Interest received on General fund investment is a/an:
a) Capital receipts
b) Revenue receipts
d) Revenue expenditure
- Accrued interest on General fund investment will be:
a) Shown as a Liability and income also.
b) Added in General fund and also in General fund investment.
c) Shown as an income and also as an Asset.
d) Added in General fund investment and also in General fund.
- Book Value of furniture as on April 1, 2020 was `45,000. On 30th October one third of furniture was sold at a loss of 20% on sale value. Depreciation is charged @ 10% p.a. on furniture. Loss on sale of furniture and Depreciation on furniture to be shown in income and expenditure account for the year 2020-2021 will be:
a) Loss Rs 3531 and Dep. Rs 3875
b) Loss Rs 3875 and Dep. Rs 3531
c) Loss Rs 3531 and Dep. Rs 875
d) Loss Rs 3531 and Dep. Rs 3000
- Which of following items appearing in the Receipt and Payment Account that need not to be taken into account for determining the surplus/ deficit for the current year:
a) Opening and closing balance of cash
b) Life membership fees
c) Closing and opening balance of bank
d) All of the above