CBSE Class 12 Accountancy Board Question Paper 2014
This is the CBSE Class 12 Accountancy Previous Year Question Paper from 2014. It includes questions focused on the introduction to company accounts, covering concepts like share capital, subscription levels, and reserves. The paper features one-mark questions designed to test fundamental understanding of key terms and principles. Solving this board question paper allows students to familiarise themselves with the types of questions asked by the CBSE, understand the marking scheme for introductory topics, and identify areas for improvement. Practicing with previous year papers is crucial for building confidence and achieving better scores in the final examinations.
Quick info
| Board | CBSE |
|---|---|
| Class | 12 |
| Subject | Accountancy |
| Session | 2014 |
| Language | English |
| Type | Previous Year Question Paper |
| Exam type | Board Exam |
Paper pattern
The paper contains one-mark questions testing fundamental concepts in Accountancy.
Topics covered
Paper topics
- Share Capital
- Minimum Subscription
- Paid-up Capital
- Authorised Capital
- Preliminary Expenses
- Capital Reserve
Important topics
- Minimum Subscription
- Paid-up Capital
- Authorised Capital
- Preliminary Expenses
- Capital Reserve
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Question paper text
Introduction
1 Mark Questions
- D Ltd invited applications for issuing 10,00,000 equity shares of ? 10 each.
The public applied for 8,55,000 shares. Can the company proceed for the allotment of shares? Give reason in support of your answer (All India 2014)
Ans. No, the shares cannot be allotted because subscribed shares are less than 90% i.e. minimum subscription.
- What is meant by paid-up capital? (Compartment 2014)
Ans. It is the amount that the shareholder has paid and the company has received against the amount called-up against the shares towards share capital.
- What is meant by 'undersubscription'? (Compartment 2014)
Ans. Undersubscription means that number of shares applied for is less than the number of shares issued
- What is meant by authorised capital of a company? (Compartment 2014; Foreign 2011)
Ans. According to Section 2 (8) of the Companies Act, 2013, 'authorised capital' means such capital as is authorised by the memorandum of a company to be the maximum amount of share capital of a company.
- What is the name given to the part of capital of a company which is called-up only on winding up? (All India 2011; hots)
Ans. Part of capital of a company which is called-up only on winding up is called 'reserve capital'.
6. What are preliminary expenses? (Delhi 2010)
Ans. The expenses incurred in the promotion and formation of the company are known as preliminary expenses, such as registration fee paid to registrar of the companies, stamp duty, legal expenses, expenses regarding preparation and issue of prospectus, etc.
7. What is meant by 'capital reserve'? (All India 2010)
Ans. 'Capital reserve' is the reserve which is not free for distribution as dividend. It is mandatory to create capital reserve in case of capital profits earned by the company.
8. Give the meaning of minimum subscription? (All India 2008)
Ans. It is the amount stated in the prospectus as the minimum amount that must be subscribed. Unless the sum payable on application for the sum so stated (minimum subscription) has been paid to and received by the company by cheque or other instrument, security cannot be allotted.
Frequently asked questions
What is this document?
This is a CBSE Class 12 Accountancy Previous Year Question Paper from 2014, designed for board exam practice.
What topics are covered in this paper?
This paper focuses on introductory concepts of Company Accounts, including share capital, subscription, and reserves.
How does solving previous year papers help?
Solving previous year question papers helps students understand the board pattern, improve time management, and boost their scores.
What is the marking scheme for this paper?
This specific extract contains one-mark questions, indicating a focus on testing basic definitions and understanding of concepts.
Where can I find more CBSE Class 12 Accountancy papers?
You can find more previous year question papers for CBSE Class 12 Accountancy on various educational websites dedicated to exam preparation.
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