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12th Standard English Medium Accountancy Subject Creative 2 Mark Questions with Solution Part - I

12th Standard English Medium Accountancy Subject Creative 2 Mark Questions with Solution Part - I

12th Standard

    Reg.No. :
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Accountancy

Time : 00:30:00 Hrs
Total Marks : 20
    10 x 2 = 20

  1. Can a limited company maintain its accounts under single entry system?

  2. Explain the steps in preparations of receipts and payments account.

  3. If the partner's capital accounts are fixed, where will you record the following items?
    (a) Salary payable to a partner
    (b) Drawings made by a partner

  4. What is meant by number of years purchase at the time of valuation of goodwill?

  5. What is meant by admission of a partner?

  6. How can a partner retire from the firm? (Any two)

  7. Definition of a Company.

  8. What is funds flow analysis?

  9. What is current ratio?

  10. What are the steps involved in designing accounting reports?

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