CBSE Class 12 Accountancy Previous Year Question Paper 2014
This is the CBSE Class 12 Accountancy Previous Year Question Paper from 2014, focusing on the topic of Maintenance of Capital Accounts of Partners with Fixed & Fluctuating Capital. The paper includes 1-mark questions designed to test fundamental understanding. For instance, it asks to name the accounts maintained for partners with fixed capitals and to distinguish between fixed and fluctuating capital accounts, providing a clear comparison of their characteristics and balance treatments. It also probes where drawings are recorded under the fixed capital system and the conditions under which capital balances might change. Solving this board question paper is crucial for students to understand the exam pattern, identify key concepts, and enhance their preparation for the CBSE Accountancy board exams.
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Quick info
| Board | CBSE |
|---|---|
| Class | 12 |
| Subject | Accountancy |
| Session | 2014 |
| Language | English |
| Type | Previous Year Question Paper |
| Exam type | Board Exam |
Topics covered
Paper topics
- Fixed Capital Accounts
- Fluctuating Capital Accounts
- Partner's Capital
- Drawings
- Additional Capital
- Capital Withdrawal
Important topics
- Maintenance of Capital Accounts of Partner: Fixed & Fluctuating Capital
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Question paper text
Maintenance of Capital Accounts of Partner: Fixed & Fluctuating capital
1 Mark Questions
- Name the accounts which are maintained for the partners when capitals of the partners are fixed. (Compartment 2014)
Ans. When capitals of the partners are fixed, following accounts are required to be maintained:
- Partner's fixed capital accounts (ii) Partner's current capital accounts.
- Distinguish between fixed and fluctuating capital accounts.
(Compartment 2014) (Delhi; All India 2011)
Ans. Difference between fixed and fluctuating capital accounts
S.No. Fixed capital account Fluctuating capital account
- Each partner has two accounts i.e. capital Each partner has only one account i.e. capital account and current account. account.
- Capital account always shows a credit balance. Sometimes capital account may show a debit balance due to huge drawings or losses.
- When the partners' capitals are fixed, where the drawings made by a partner will be recorded? (Delhi; All India 2013)
Ans. When the partners' capitals are fixed, the drawings made by a partner will be recorded in partners' current account (debit side).
- State the conditions under which the capital balances may change under the system of fixed capital account.(All India 2009,2008; Delhi 2009 c)
Ans. The conditions under which the capital balances may change under the system of a fixed capital 'accounts are:
- When additional capital is introduced.
- When capital is withdrawn.
Frequently asked questions
What is this document?
This is a CBSE Class 12 Accountancy Previous Year Question Paper from 2014, focusing on partner capital accounts.
What topics are covered in this paper?
This paper covers the maintenance of capital accounts for partners under both fixed and fluctuating capital systems, including related concepts like drawings and additional capital.
How does solving previous year papers help?
Solving previous year question papers helps students understand the exam pattern, identify important topics, and improve their scoring potential for the CBSE board exams.
What is the format of the questions?
This section contains 1-mark questions designed to test basic knowledge and understanding of the concepts related to partner capital accounts.
When was this paper conducted?
This specific question paper is from the 2014 examination session.
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