CBSE Class 12 Accountancy 2019 Previous Year Question Paper Delhi Set-3
This is the CBSE Class 12 Accountancy 2019 Main Exam Delhi Set-3 Previous Year Question Paper. The paper is divided into two parts: Part A and Part B. Part A is compulsory for all students. Part B offers a choice between two options: Analysis of Financial Statements and Computerized Accounting. Students must attempt only one option from Part B. All parts of a single question must be answered together. The paper includes questions on topics such as Not-For-Profit Organisations, Partnership accounts (interest on drawings, gaining ratio, retirement of partners), and Company Accounts (issued capital, Employees Stock Option Plan). Solving this board question paper is crucial for students to understand the exam pattern, question types, and marking scheme, thereby enhancing their preparation and performance in the upcoming board examinations.
Quick info
| Board | CBSE |
|---|---|
| Class | 12 |
| Subject | Accountancy |
| Session | 2019 |
| Language | English |
| Type | Previous Year Question Paper |
| Exam type | Board Exam |
Paper pattern
The question paper contains two parts A and B. Part A is compulsory, and students must attempt only one option from Part B.
Topics covered
Paper topics
- Not-For-Profit Organisations
- Partnership Accounts
- Company Accounts
- Interest on Drawings
- Gaining Ratio
- Retirement of Partner
- Issued Capital
- Employees Stock Option Plan
Important topics
- Final Accounts of NPO
- Interest on Drawings Calculation
- Gaining Ratio Calculation
- Retirement of Partner Provisions
- Issued Capital Definition
- ESOP Definition
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Question paper text
Accountancy 2019 Delhi Set-3
General Instructions:
- This question paper contains two parts A and B.
- Part A is compulsory for all.
- Part B has two options: Analysis of Financial Statements and Computerized Accounting.
- Attempt only one option of Part B.
- All parts of a question should be attempted at one place.
Question 1
How are specific donations treated while preparing final accounts of a 'Not-For-Profit Organisation'?
OR
State the basis of accounting of preparing 'Income and Expenditure Account' of a 'Not- For-Profit Organisation.
SOLUTION:
Since specific donations are capital receipts, they are shown under liability side of the balance sheet.
OR
The 'Income and Expenditure Account' of a 'Not-for-Profit Organisation' is prepared on accrual basis.
Question 2
Chhavi and Neha were partners in a firm sharing profits and losses equally. Chhavi withdrew a fixed amount at the beginning of each quarter. Interest on drawings is charged @ 6% p.a. At the end of the year, interest on Chhavi's drawings amounted to ₹
- Pass necessary journal entry for charging interest on drawings.
SOLUTION:
In the books of Chhavi and Neha
Journal
Debit Credit
Date Particulars L.F. Amount Amount ₹ ₹
Chhavi's Capital A/c Dr. 900
To Interest on Drawings A/c 900
(Being interest on drawings charged) Interest on Drawings 900
A/c Dr. 900
To Profit & Loss Appropriation A/c (Being interest on drawings transferred to profit & loss account)
Question 3
What is meant by 'Gaining Ratio' on retirement of a partner?
OR
P, Q and R were partners in a firm. On 31st March, 2018 R retired. The amount payable to R ₹ 2,17,000 was transferred to his loan account. R agreed to receive interest on this amount as per the provisions of Partnership Act, 1932. State the rate at which interest will be paid to R.
SOLUTION:
The ratio in which the outgoing partner's profit share is gained or acquired by the remaining partners is known as Gaining ratio. This ratio is calculated by taking the difference between the new ratio and the old ratio of the partners.
Algebraically,
Gaining Ratio = New Profit Sharing Ratio - Old Profit Sharing Ratio
OR
The rate of interest payable to R would be 6% per annum as per the provisions of Partnership Act, 1932.
Question 4
What is meant by 'Issued Capital'?
OR
What is meant by 'Employees Stock Option Plan'?
SOLUTION:
As per Section 2(50) of Companies Act, 2013, "issued capital" means such capital as the company issues from time to time for subscription. It is that part of the Authorised Capital which is offered by a company to the general public for its subscription. OR
Frequently asked questions
What is this document?
This is the official CBSE Class 12 Accountancy 2019 Main Exam Delhi Set-3 Previous Year Question Paper for board exam practice.
What is the structure of the paper?
The paper has two parts: Part A (compulsory) and Part B (choice between Analysis of Financial Statements and Computerized Accounting).
What topics are covered in this paper?
Topics include Not-For-Profit Organisations, Partnership Accounts (including retirement and goodwill), and Company Accounts (share capital).
How does solving previous year papers help?
Solving previous year question papers helps students understand the exam pattern, question difficulty, and marking scheme, improving their confidence and scores.
What is the benefit of practicing with the Delhi Set-3 paper?
Practicing with specific sets like Delhi Set-3 allows students to get familiar with variations in questions and prepare comprehensively for the CBSE Class 12 Accountancy board exam.
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