CBSE Class 12th Accountancy Answer Key 2025: The CBSE Class 12 Accountancy Exam 2025 was held on March 26, 2025. As per the initial student reactions, the paper was moderately difficult. To help the students assess their performance, we provided the CBSE Class 12 Accountancy Answer Key 2025 in this article. The answer key has been prepared by subject experts and serves as an important resource for students to cross-check their answers and estimate their scores. Using the answer key allows students to learn from their mistakes and improve their preparation for future exams.
CBSE Class 12 Accountancy Exam Answer Key- Highlights
The CBSE Class 12 Accountancy question paper had 34 questions for 80 marks. The time allowed to write the paper was 3 hours. All questions were compulsory, with some questions having internal choices.
| Feature | Highlights |
| Board Name | Central Board Of Secondary Education (CBSE) |
| Exam Name | CBSE Class 12th Accountancy Exam |
| Exam Date | March 26, 2025 |
| Duration | 10:30 AM to 1:30 PM (3 hours) |
| Total Marks | 80 |
| Mode | Offline (Pen and Paper) |
| Time Duration | 3 Hours |
| Question Paper Sets: | Multiple Sets (Set 1, Set 2, Set 3, Set 4) |
Features Of CBSE Class 12th Accountancy Answer Key?
1. Self-Evaluation:
Students can compare their answers with the official solutions to understand their performance.
2. Score Estimation:
By checking the answer key, students can predict their approximate marks before the official results are announced.
3. Identify Mistakes:
Analysing incorrect answers helps students understand their weak areas for improvement in future exams.
Check:
- CBSE Class 12 Accountancy Paper Analysis - Exam Review & Difficulty Level
- CBSE Class 12 Accountancy Question Paper 2025 FREE (PDF)
CBSE Class 12 Accountancy Marking Scheme 2024-2025
Check the CBSE 12th Accountancy Marking Scheme 2025 in the table below.
| Assessment Type | Marks |
| Theory Exam | 80 |
| Internal Assessment | 20 |
| Total: | 100 |
CBSE Class 12 Accountancy Answer Key 2025
SET-1
Get here the complete answer key for CBSE Class 12th Accountancy Exam 2025
PART - A
(Accounting for Partnership Firms and Companies)
1. Arun, Bashir, and Joseph were partners in a firm sharing profits and losses in the ratio of 5:3:2. They admitted Daksh as a new partner who acquired his share entirely from Arun. If Arun sacrificed 1/5 of his share to Daksh, Daksh’s share in the profits of the firm will be:
(A) 1/10
(B) 1/5
(C) 3/10
(D) 2/5
2. Eliza, Fenn, and Garry were partners in a firm sharing profits and losses in the ratio of 4:3:1. Fenn was guaranteed ₹25,000 as his share in the profits. Any deficiency arising on that account was to be met by Eliza. The firm earned a profit of ₹80,000 for the year ended 31st March 2024. The amount of profit credited to Fenn’s capital account will be:
(A) ₹30,000
(B) ₹40,000
(C) ₹25,000
(D) ₹10,000
3. Wayne, Shaan, and Bryan were partners in a firm. Shaan had advanced a loan of ₹1,00,000 to the firm. On 31st March 2024, the firm was dissolved. After transferring various assets (other than cash & bank) and outside liabilities to the Realisation Account, Shaan took over furniture of book value ₹90,000 in part settlement of his loan amount. For the payment of the balance amount of Shaan’s loan, the Bank Account will be credited with:
(A) ₹1,00,000
(B) ₹90,000
(C) ₹1,90,000
(D) ₹10,000
4. Pulkit and Ravinder were partners in a firm sharing profits and losses in the ratio of 3:2. Sikander was admitted as a new partner for 15\frac{1}{5}51 share in the profits of the firm. Pulkit, Ravinder, and Sikander decided to share future profits in the ratio 2:2:1. Sikander brought ₹5,00,000 as his capital and ₹10,00,000 as his share of premium for goodwill. The amount of premium for goodwill that will be credited to the old partners’ capital accounts will be:
(A) Pulkit’s Capital Account ₹10,00,000
(B) Pulkit’s Capital Account ₹6,00,000 and Ravinder’s Capital Account ₹4,00,000
(C) Pulkit’s Capital Account ₹5,00,000 and Ravinder’s Capital Account ₹5,00,000
(D) Pulkit’s Capital Account ₹2,00,000
5. Kajal and Laura were partners in a firm sharing profits and losses in the ratio of 5:3. They admitted Maddy for 1/4 share in future profits. Maddy brought ₹8,00,000 as his capital and ₹4,00,000 as his share of premium for goodwill. Kajal, Laura, and Maddy decided to share profits in future in the ratio 2:1:1. After all adjustments in respect of goodwill, revaluation of assets, and liabilities, etc., Kajal’s capital was ₹10,00,000 and Laura’s capital was ₹8,00,000. It was agreed that partners’ capitals should be in proportion to their new profit-sharing ratio, taking Maddy’s capital as base. The adjustment was made by bringing in or withdrawing the necessary cash. The cash brought in by Kajal was:
(A) ₹1,00,000
(B) ₹8,00,000
(C) ₹16,00,000
(D) ₹12,00,000
6. Assertion (A): The maximum number of partners in a partnership firm is 50.
Reason (R): By virtue of the Companies Act 2013, the Central Government is empowered to prescribe the maximum number of partners in a firm. The Central Government has prescribed the maximum number of partners in a firm to be 50.
Choose the correct option:
(A) Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).
(B) Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).
(C) Assertion (A) is true, but Reason (R) is false.
(D) Both Assertion (A) and Reason (R) are false.
7. Nandita and Prabha were partners in a firm. Nandita withdrew ₹3,00,000 during the year for personal use. The partnership deed provides for charging interest on drawings @ 10% p.a. Interest on Nandita’s drawings for the year ended 31st March 2024 will be:
(A) ₹9,000
(B) ₹30,000
(C) ₹18,000
(D) ₹15,000
8. Radhika, Mehar, and Shubha were partners in a firm sharing profits and losses in the ratio 9:8:7. If Radhika’s share of profit at the end of the year amounted to ₹5,40,000, Shubha’s share of profit will be:
(A) ₹5,40,000
(B) ₹4,80,000
(C) ₹60,000
(D) ₹4,20,000
9. Suhas and Vilas were partners in a firm with capitals of ₹4,00,000 and ₹3,00,000 respectively. They admitted Prabhas as a new partner for 15\frac{1}{5}51 share in future profits. Prabhas brought ₹2,00,000 as his capital. Prabhas’ share of goodwill will be:
(A) ₹1,00,000
(B) ₹10,00,000
(C) ₹9,00,000
(D) ₹20,000
10. Offer of securities or invitation to subscribe securities to a select group of persons by a company (other than by way of public offer) is known as:
(A) Sweat equity
(B) Incorporation cost
(C) Private placement of shares
(D) Employee stock option plan
11. Ajay Ltd. forfeited 100 shares of ₹10 each for non-payment of the first call of ₹2 per share and second & final call of ₹3 per share. The minimum price per share at which these shares can be reissued will be:
(A) ₹6
(B) ₹4
(C) ₹10
(D) ₹16
12. (a) The amount of share capital which a company is authorised to issue by its Memorandum of Association is known as:
(A) Nominal capital
(B) Issued capital
(C) Reserve capital
(D) Subscribed capital
Correct Answer: (A) Nominal capital
12. (b) According to Securities and Exchange Board of India (SEBI) guidelines, the minimum subscription of capital cannot be less than 90% of:
(A) Authorised capital
(B) Issued capital
(C) Reserve capital
(D) Subscribed capital
Correct Answer: (D) Subscribed capital
13. (a) Debentures on which a company does not give any undertaking for the repayment of money borrowed are called:
(A) Bearer Debentures
(B) Secured Debentures
(C) Perpetual Debentures
(D) Registered Debentures
Correct Answer: (C) Perpetual Debentures
13. (b) If the amount of debentures issued is more than the amount of the net assets taken over by a company, the difference will be treated as:
(A) Capital Reserve
(B) Goodwill
(C) Purchase Consideration
(D) General Reserve
Correct Answer: (B) Goodwill
14. (a) The following journal entry appears in the books of Latvion Ltd.:
| Date | Particulars | Dr. Amount (₹) | Cr. Amount (₹) |
|---|---|---|---|
| Bank A/c | Dr. | 4,75,000 | |
| Loss on issue of debentures A/c | Dr. | 75,000 | |
| To 12% Debentures A/c | 5,00,000 | ||
| To Premium on Redemption of Debentures A/c | 50,000 |
The discount on the issue of debentures is:
(A) 15%
(B) 5%
(C) 10%
(D) 95%
Correct Answer: (C) 10%
14. (b) Zeba Limited issued 15,000, 9% debentures of ₹ 100 each at 10% discount on 1st April 2023. It has a balance of ₹ 1,00,000 in Securities Premium Account. The ‘Discount on issue of Debentures’ ₹ 1,50,000 will be written off:
(A) ₹ 1,00,000 out of Securities Premium Account and ₹ 50,000 out of Statement of Profit and Loss
(B) ₹ 50,000 out of Securities Premium Account and ₹ 1,00,000 out of Statement of Profit and Loss
(C) ₹ 1,50,000 out of Securities Premium Account
(D) ₹ 1,50,000 out of Statement of Profit and Loss
Correct Answer: (A) ₹ 1,00,000 out of Securities Premium Account and ₹ 50,000 out of Statement of Profit and Loss
15. (a) Anisha, Deepa, and Charu were partners sharing profits and losses in the ratio of 6:3:2. On 31st March 2024, they decided to change their profit-sharing ratio to 2:3:5. Each partner’s gain or sacrifice due to the change in the profit-sharing ratio will be:
(A) Anisha’s sacrifice 3/10 : Charu’s gain 3/10
(B) Anisha’s gain 3/10 : Charu’s sacrifice 3/10
(C) Anisha’s sacrifice 3/10 : Deepa’s gain 3/10
(D) Deepa’s gain 3/10 : Charu’s sacrifice 3/10
Correct Answer: (A) Anisha’s sacrifice 3/10 : Charu’s gain 3/10
15. (b) Preet and Saral were partners sharing profits and losses in the ratio of 3:2. On 31st March 2024, they decided to change their profit-sharing ratio to 1:1. On the date of reconstitution, the goodwill of the firm was valued at ₹ 1,00,000. The journal entry for treatment of goodwill on account of change in the profit-sharing ratio will be:
| Particulars | Dr. Amount (₹) | Cr. Amount (₹) |
|---|---|---|
| (A) Preet’s Capital A/c Dr. | 1,00,000 | To Saral’s Capital A/c |
| (B) Saral’s Capital A/c Dr. | 1,00,000 | To Preet’s Capital A/c |
| (C) Preet’s Capital A/c Dr. | 10,000 | To Saral’s Capital A/c |
| (D) Saral’s Capital A/c Dr. | 10,000 | To Preet’s Capital A/c |
Correct Answer: (C) Preet’s Capital A/c Dr. ₹10,000 To Saral’s Capital A/c ₹10,000
16. (a) Ishan, Jatin, and Kapil were partners in a firm sharing profits and losses in the ratio of 5:4:1. Jatin retired and his share was taken up by Ishan and Kapil in the ratio of 3:1. The new profit-sharing ratio between Ishan and Kapil after Jatin’s retirement will be:
(A) 6:4
(B) 5:4
(C) 7:3
(D) 7:1
Correct Answer: (C) 7:3
16. (b) Sakshi, Kiara, and Gunjan were partners in a firm sharing profits and losses in the ratio of 3:2:1. Kiara retired on 1-4-2023. After all adjustments, the amount due to Kiara was ₹ 5,00,000. The payment was to be made in two yearly installments of ₹ 2,50,000 each, and the firm agreed to pay interest @ 10% per annum on the unpaid balance. The amount of the first installment paid on 31-03-2024 will be:
(A) ₹ 6,50,000
(B) ₹ 5,00,000
(C) ₹ 2,50,000
(D) ₹ 2,75,000
Correct Answer: (D) ₹ 2,75,000
27. The Quick Ratio of a company is 1:1. Which of the following transactions will result in an increase in Quick Ratio?
(A) Cash received from debtors
(B) Sold goods on credit
(C) Purchased goods on credit
(D) Purchased goods on cash
Correct Answer: (B) Sold goods on credit
28. Statement-I: Snow Limited earned a profit of ₹ 2,00,000 after charging depreciation of ₹ 50,000 on machinery. So, operating profit before working capital changes will be ₹ 2,50,000.
Statement-II: Depreciation is added back to net profit as it does not result in any cash flow.
Choose the correct option from the following:
(A) Both the Statement-I is true.
(B) Only Statement-II is true.
(C) Both the Statements are false.
(D) Both the Statements are true.
Correct Answer: (D) Both the Statements are true.
29. (a) ______ is not a tool of ‘Analysis of Financial Statements’.
(A) Income Statement
(B) Ratio Analysis
(C) Comparative Statements
(D) Cash Flow Statement
Correct Answer: (A) Income Statement
(b) In ‘Common size income statement’ each item is expressed as a percentage of ______.
(A) Total Income
(B) Total Expenses
(C) Profit After Tax
(D) Revenue from Operations
Correct Answer: (D) Revenue from Operations
30. (a) Short-term highly liquid investments qualify as cash equivalents if they are realisable into known amounts of cash from the date of acquisition within a period of:
(A) 6 months or less
(B) 9 months or less
(C) 12 months or less
(D) 3 months or less
Correct Answer: (D) 3 months or less
(b) Which of the following item is not included in cash and cash equivalents?
(A) Trade Receivables
(B) Demand deposits with bank
(C) Short-term marketable securities
(D) Cheques in hand
Correct Answer: (A) Trade Receivables
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