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Published on: 25/10/2025
Download CBSE Class 12th Standard CBSE Accountancy question papers, sample papers, important questions, and previous year solved papers in PDF format. Get free study materials, NCERT solutions, and exam preparation resources for Class 12th Standard CBSE Accountancy
Questions + Answers key
Take MCQ Accountancy Test

1.
Calculate the current ratio if working capital Rs.15,000, total liabilities (other than shareholders' funds) Rs.32,500, long-term debt Rs.25,000.
2.
The current ratio of a company is 2 : 1. State giving reasons, which of the following would improve, reduce or not change the ratio.
(i) Repayment of a current liability.
(ii) Purchasing goods on cash.
(iji) Sale of office equipment of Rs.4,000 (book value Rs.5,000).
(iv) Sale of goods Rs.11,000 (cost Rs.10,000).
(v) Payment of dividend.
3.
The current assets and current liabilities of a firm are Rs.5,00,000 and Rs.4,00,000 respectively.
Calculate the current ratio if.
(i) It purchased goods worth Rs.1,00,000 on credit.
(ii) It paid Rs.2,00,000 to a creditor.
4.
A firm wants to maintain an ideal current ratio of 2:1. Its current assets are of Rs.12,00,000 and current liabilities amount to Rs.4,00,000. Find the amount of current assets that it should purchase on credit to achieve that ratio.
5.
The current ratio of Richa Ltd is 4.5 : 1 and liquid ratio is 3:1. Inventories are Rs.30,000. What are the current liabilities, current assets, liquid assets?
6.
Current assets of a company are Rs.2,52,000 and the current ratio is 1.5. The value of inventory is Rs.4,000. Find the liquid ratio.
7.
Ratio of current assets (Rs.3,00,000) to current liabilities (Rs.2,00,000) is 1.5 : 1. The accountant of the firm is interested in maintaining a current ratio of 2: 1 by paying off a part of current liabilities. Compute the amount of current liabilities that should be paid off so that the current ratio at the level of 2: 1 may be maintained.
8.
Revenue from operations of Car Trade. com is Rs.15,75,000. Rate of gross profit on cost is 20%. Inventory in the beginning was 20% of sales and that at the end exceeded opening inventory by Rs.10,000.Calculate the 'stock turnover ratio of the company.
9.
The average inventory of Ramesh Ltd amounts to Rs.25,000. Its stock turnover ratio is of 6 times. It is the policy of the company to sell goods at 20% profit on sales. Find out the profit of the company
10.
Calculate debt equity ratio from the following information.
Total assets = Rs.3,50,000, total debt = Rs.2,50,000, current liabilities = Rs.80,000
1.
Current ratio = 3 : 1
2.
(i) Improve (ii) No change (iii) Improve (iv) Improve (v) Improve
3.
(i) Current ratio (after purchase of goods) = 1.2 : 1
(ii) Current ratio (after payment to creditor) = 1.5: 1
4.
Current assets of Rs.4,00,000 should be purchased on credit.
5.
Current liabilities =Rs.20,000;
Current assets =Rs.90,000;
Liquid assets =Rs.20,000
6.
Liquid ratio = 1.48 : 1
7.
Current liabilities to be paid off=Rs.1,00,000
8.
Stock turnover ratio = 4.10 times
9.
Proit=Rs.37,500
10.
Debt equity ratio = 1.7 : 1
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