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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.
From the following balance sheet of Aspect Ltd, calculate the current ratio.
Balance Sheet
as at ...
| Particulars | Note No. | Amt(Rs) |
| I Equity and liabilities | ||
| 1. Shareholders' Funds | ||
| (a) Share Capital | 15,00,000 | |
| (b) Reserves and Surplus | (1,50,000) | |
| 2. Non-current Liabilities | ||
| Long-term Borrowings | 8,25,000 | |
| 3. Current Liabilities | ||
| (a) Short-term Borrowings | 7,50,000 | |
| (b) Trade Payables | 1,50,000 | |
| (c) Short-term Provisions | 2,25,000 | |
| Total | 33,00,000 | |
| II Assets | ||
| 1. Non-current Assets | ||
| (a) Fixed Assets | ||
| (i) Tangible Assets | 13,50,000 | |
| (ii) Intangible Assets | 1,50,000 | |
| (b) Non-current Investments | 1,50,000 | |
| 2. Current Assets | ||
| (a) Current Investments | 3,00,000 | |
| (b) Inventories | 4,50,000 | |
| (c) Trade Receivables | 5,25,000 | |
| (d) Cash and Cash Equivalents | 3,75,000 | |
| Total | 33,00,000 |
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.
Current liabilities of a company are Rs.1,60,000. Liquid ratio is 1.5:1 and current ratio is 2.5:1. Calculate quick assets and current assets.
5.
Calculate current ratio if inventories are Rs.6,00,000, liquid assets Rs.24,00,000, quick ratio 2 : 1.
6.
X Ltd has a current ratio of 3:1 and quick ratio of 2: 1. If the excess of current assets over quick assets as represented by stock is Rs.40,000, calculate current assets and current liabilities.
7.
Current liabilities of a company are Rs.3,50,000. Its current ratio is 3 and liquid ratio is 1.75. Calculate the amount of current assets, liquid assets and inventory.
8.
A business has a current ratio of 3:1 and a quick ratio of 1.2:1. If the working capital is Rs.1,50,000, calculate total current assets and inventory.
9.
The following information is given.
Cost of goods sold = Rs.2,50,000
Purchases made during the year = Rs.3,00,000
Wages and salary = Rs.25,000
Carriage outward = Rs.5,000
Opening inventory = Rs.15,000
Compute the stock turnover ratio.
10.
Following is the statement of profit and loss of Rohan Ltd. Calculate the inventory turnover ratio.
Statement of Profit and Loss
for the year ended 31st March 2015
| Particulars | Note No. |
Amt(Rs.) |
|---|---|---|
| I Revenue from Operations (Sales) | 2,00,000 | |
| II Expenses | ||
| Purchases of Stock-in-trade | 1,20,000 | |
| Changes in Inventory of Stock-in-trade | 1 | 20,000 |
| Other Expenses | 2 | 30,000 |
| Total Expenses | 1,70,000 | |
| III Profit before Tax for the Year (I-II) | 30,000 | |
| IV (-) Tax | 5,000 | |
| V Profit for the Year (III -IV) | 25,000 |
Notes to Accounts
| Partiulars | Note No. |
Amt(Rs.) |
|---|---|---|
| 1. Changes in Inventory of Stock-in-trade | ||
| Opening Inventory | 40,000 | |
| (-) Closing Inventory | 20,000 | |
| 20,000 | ||
| 2. Other Expenses | ||
| Carriage and Freight Inwards | 10,000 | |
| Carriage and Freight Outwards | 12,500 | |
| Miscellaneous Expenses | 7,500 | |
| 30,000 |
1.
Current ratio = 3 : 1
2.
Current ratio=1.4:1
3.
(i) Current ratio (after purchase of goods) = 1.2 : 1
(ii) Current ratio (after payment to creditor) = 1.5: 1
4.
Quick assets = Rs.2,40,000; Current assets = Rs.4,00,000
5.
Current ratio =2.5: 1
6.
Let the current liabilities = x
Current Ratio =3:1, i.e = Current Assets/Current Liabilities = 3/1
Therefore, Current assets = 3x
Quick Ratio =2: 1, i.e Liquid Assets/Current Liabilities = 2/1
Therefore, quick or liquid assets =2x
Liquid Assets = Current Assets - Inventory
2x =3x - 40,000
2x - 3x = -40,000
-x = - 40,000
x = 40,000
Current Liabilities = Rs.40,000
Current Assets = 3 x 40,000 = Rs.1,20,000
7.
Current assets =Rs.10,50,000; Liquid assets =Rs.6,12,500; Inventory =Rs.4,37,500
8.
Current assets = Rs.2,25,000 ; Inventory = Rs.1,35,000
9.
Stock turnover ratio = 4.76 times
10.
Stock turnover ratio=5 times
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