CBSE Class 12 Accountancy Previous Year Question Paper 2009-10: Tools of Financial Statements Analysis
This CBSE Class 12 Accountancy Previous Year Question Paper from the 2009-10 session focuses on the chapter 'Tools of Financial Statements Analysis'. It includes questions designed to test understanding of key concepts and their application. The paper features a mix of 1-mark questions, requiring concise answers on definitions and identification of tools like ratio analysis and cash flow statements, and 3-mark questions that involve preparing comparative statements of profit and loss. These practical questions assess the ability to analyze financial data and present it in a structured format, including calculating absolute and percentage changes. Solving this board question paper helps students grasp the exam pattern, identify important topics, and refine their problem-solving skills for the upcoming board examinations.
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Quick info
| Board | CBSE |
|---|---|
| Class | 12 |
| Subject | Accountancy-II - PYP Chapter-Wise |
| Session | 2009-10 |
| Language | English |
| Type | Previous Year Question Paper |
| Exam type | Board Exam |
Paper pattern
The paper includes 1-mark and 3-mark questions, with some requiring the preparation of comparative statements of profit and loss.
Topics covered
Paper topics
- Common Size Statements
- Comparative Statements
- Ratio Analysis
- Cash Flow Statement
- Revenue from Operations
- Material Consumed
- Manufacturing Expenses
- Office Expenses
- Other Incomes
- Income Tax
- Profit Before Tax
- Profit After Tax
Important topics
- Common Size Statement of Profit and Loss
- Comparative Statement of Profit and Loss
- Tools of Financial Statements Analysis
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Question paper text
Tools of Financial Statements Analysis
1 Mark Questions
- Which item is assumed to be 100 while preparing common size statement of profit
and loss? (Compartment 2014)
Ans. Revenue from operations are assumed to be 100 while preparing common size statement of profit and loss.
2. Name any two tools of analysis of financial statements. (Compartment 2014)
Ans. Two tools of analysis of financial statements are:
- Ratio analysis
3. What is meant by a common size statements? (Delhi 2011)
Ans. The statement wherein figures reported are converted into percentage to some common base are known are common size statements. Each percentage shows the relation of the individual item to its respective total. In common size income statement, net sales figure is assumed to be 100 and all other figures of expenses are expressed as a percentage of sales. In common size balance sheet, the total of assets or liabilities is assumed to be 100 and figures are expressed as a percentage of the total.
3 Marks Questions
- From the following information, prepare a comparative statement of profit and loss for the year 2009-2010
Particulars 2009 2010
Revenue from Operations i.e. 7,00,000 8,50,000
Materials Consumed 3,30,000 4,20,000
Manufacturing and Office Expenses 2,40,000 2,60,000
Other Incomes 30,000 30,000
Other Information
(i)Income tax is calculated @ 50%.
(ii)Manufacturing expenses are 50% of the total of that category. (All India 2011; Modified)
Ans.
Comparative Statement of Profit and Loss for the year ended 31st March, 2009 and 2010
Absolute Percentage
Particulars 31st March, 31st March, Change Change
2010 (₹) 2009 (₹) (Increase or (Increase or
Decrease) (₹) Decrease) (%)
. Revenue from Operations (Sales) 8,50,000 7,00,000 1,50,000 21.43
- Other Income 30,000
Total Revenue (I +II) 8,80,000 7,30,000 1,50,000 20.55
- Expenses
- Material Consumed 4,20,000 90,000 27.27
- Manufacturing Expenses 1,30,000 10,000 8.33
- Other Expenses (Office expenses) 1,30,000 10,000 8.33
Total Expenses 6,80,000 5,70,000 1,10,000 19.30
- Profit before Tax (III -- IV) 2,00,000 40,000 25.00
- Tax @ 50% 1,00,000 20,000 25.00
- Profit after Tax (V – VI) 1,00,000 20,000 25.00
- From the following information, prepare a comparative statement of profit and loss for the years 2009 and 2010
Particulars 2009 2010
Revenue from Operations 8,00,000 10,00,000
Materials Consumed 4,00,000 4,60,000
Manufacturing and Office Expenses 2,10,000 2,40,000
Other Incomes 30,000 30,000
Other Information
- Income tax is calculated @ 50%.
- Manufacturing expenses are 50% of the total of that category. (Delhi 2011 C; Modified)
Ans.
Frequently asked questions
What is this document?
This is a CBSE Class 12 Accountancy Previous Year Question Paper from the 2009-10 session, focusing on the chapter 'Tools of Financial Statements Analysis'.
What topics are covered in this paper?
The paper covers concepts related to Common Size Statements, Comparative Statements, Ratio Analysis, Cash Flow Statement, and the preparation of Profit and Loss statements.
How does solving this PYQ help students?
Solving this previous year question paper helps students understand the exam pattern, practice analytical skills, and improve their scores in the CBSE board exams.
What types of questions are included?
The paper includes 1-mark questions for definitions and identification, and 3-mark questions that require the preparation of financial statements like the comparative statement of profit and loss.
Is this paper useful for board exam preparation?
Yes, this board question paper is highly useful for Class 12 Accountancy students preparing for their final CBSE board examinations.
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