Dual Aspect Concept in Accounting a fundamental principle
Top Most Important Questions for Class 12 CBSE Accounting Board Exam 2025
Introduction
The Class 12 CBSE Board Exams are crucial for students aiming to pursue higher education in commerce and accounting. With the Accounting exam being a pivotal subject, thorough preparation is essential. To help you excel, we’ve compiled a list of the most important questions and topics you should focus on for the 2025 exams.
Key Areas to Focus On:
Before diving into the questions, it’s important to understand the key areas that the CBSE Accounting syllabus covers. Make sure to have a strong grasp of these topics:
Partnership Firms:
- Fundamentals
- Reconstitution
- Dissolution
Accounting for Companies:
- Issue and Redemption of Shares
- Issue and Redemption of Debentures
Financial Statements:
- Analysis
- Cash Flow Statements
Not-for-Profit Organizations:
- Accounting procedures
- Income and Expenditure Account
Comparative and Common Size Statements:
Important Questions for 2025:
Partnership Firms: Fundamentals
- Explain the provisions of the Indian Partnership Act, 1932 related to the partnership deed. How are interest on drawings and salary to partners treated when there is no partnership deed?
Reconstitution of Partnership Firm
- Discuss the accounting treatment of goodwill in the case of admission, retirement, and death of a partner.
Dissolution of Partnership Firm
- What are the various modes of dissolution of a partnership firm? Explain the procedure for dissolution.
Accounting for Share Capital
- Differentiate between equity shares and preference shares. How is the issue of shares for consideration other than cash recorded?
Redemption of Debentures
- Explain the various methods of redemption of debentures with journal entries.
Financial Statements of Companies
- How is the Statement of Profit and Loss prepared? Discuss the format as per Schedule III of the Companies Act, 2013.
Cash Flow Statement
- Explain the indirect method of preparing a cash flow statement. How are cash flows classified as operating, investing, and financing activities?
Accounting for Not-for-Profit Organizations
- What is the Receipts and Payments Account? How is it different from the Income and Expenditure Account?
Ratio Analysis
- Explain liquidity ratios and profitability ratios. How do they help in analyzing the financial statements of a company?
Comparative Financial Statements
- How do you prepare a Comparative Balance Sheet? What insights can be drawn from it?
Tips for Effective Preparation:
- Understand Concepts: Don’t just memorize; focus on understanding the underlying concepts.
- Practice Regularly: Solve previous years’ question papers and sample papers to get familiar with the exam pattern.
- Use Diagrams and Charts: Visual aids can help in retaining complex information better.
- Time Management: Practice completing your paper within the allotted time to improve speed and accuracy.
- Revise Thoroughly: Regular revision is crucial to keep concepts fresh in your mind.
Conclusion
By focusing on these important questions and following effective preparation strategies, you can approach your Accounting Board Exam with confidence. Remember to stay calm and practice regularly. Good luck with your studies!