UP Board Class 12 Accountancy Model Paper 2023: Get full PDF

UP Board Class 12 Accountancy Model Paper 2023: In this article, you can access the full model paper of  class 12th Accountancy or Bahikhata and Lekhasastra released by Uttar Pradesh Madhyamik Shiksha Parishad for 2022-23.

UP Board Class 12 Accountancy Model Paper 2023: Accountancy is an important activity in any small/ large/ old/ new enterprise or organisation. It is the practice of recording, classifying, and reporting on business transactions done by an individual or group who specialise in the same. In fact, many might agree that Accountancy is actually the backbone of any business. 

In this article, you can access the complete model paper released by Uttar Pradesh Madhyamik Shiksha Parishad for class 12th Accountancy or Bahikhata and Lekhasastra. 

Before we begin with the model paper, let us first check the general instructions preceding the questions:

Instructions:

(i) All questions are compulsory.

(ii) Question Nos. 1 to 10 are Multiple Choice Types. 

Question Nos. 11 to 20 are Very short answer types each of which is to be answered within 30 words each. 

Question Nos. 21 to 26 are Short answer type which are to be answered within 100 words each and 

Question Nos. 27 to 30 are Long answer types which are to be solved.

(iii) Marks foreach question are indicated against it.

UP Board Class 12 Accountancy Model Paper 2023

Multiple Choice Type Questions

Select the correct answer and write it in your answer book:

1. Receipts and payments account is a- 
2. Personal Account
3. Real Account
4. Nominal Account
5. None of these

2. In partnership,the profits and losses are distributed- 

1. In the ratio of their capital
2. In equal ratio
3. According to partnership deed
4. None of these

3. Interest on drawings in partnership firm is- 

1. Income
2. Expenditure
3. Profit
4. Loss

4. Goodwill is- 

1. An intangible asset
2. A tangible asset
3. A liability
4. A current asset

5. Minimum number of members in a private company is- 

1. Two
2. Four
3. Five
4. Seven

6. Inventory includes- 

1. Loose tools
2. Trade inventory
3. Stores
4. All of these

7. Analysis of financial statement includes- 

1. Trading Account
2. Profit and loss Account
3. Balance Sheet
4. All of these

8. Increase in the amount of prepaid expenses is- 

1. Cash deduction
2. Increase in cash
3. i and ii both
4. None of these

9. ICAI formulated accounting standard-3 in- 

1. 1981
2. 1990
3. 1970
4. None of these

10. Share application account is a- 

1. Personal Account
2. Nominal Account
3. Real Account
4. None of these

Very Short Answer Type Questions

11. What do you mean by Non-Profit Organization? Write. 
12. Give two characteristics of Partnership. 
13. What do you mean by Fixed Capital Account? Write. 
14. Define Goodwill. 
15. What is sacrificing ratio? Explain. 
16. Define Share. 
17. What do you understand by Financial Statement? 
18. What is Cash Flow Statement? 
19. Explain two importance of Cash Flow Statement. 
20. Define the Preference Share. 

Short Answer Type Questions

21. State main characteristics of Non-Profit Organization. 
22. Distinguish between General Partnership and Limited Liability Partnership. 
23. What is Gaining Ratio? Write its Formula. 
24. State the difference between Equity Share and Preference Share. 
25. Write objectives of Financial Statement. 
26. Explain the difference between Cash Flow Statement and Cash Budget.

Long Answer Type Questions

27. On the basis of the receipts and payments account of Sudha club, Ujjain and information given below, prepare the income and expenditure account for the year ending on 31st March, 2020.

Receipts: cash balance Rs.4800, Annual Subscription Rs.6520. Life membership fee Rs.1000, Entry Fee Rs.4960, interest on investment Rs.760, Sundry Receipts Rs.320.

Payments: General Expenses Rs.2160, Salaries and Wages Rs.12200, Furniture Rs.3200, Rent and Taxes Rs.2240, News Papers Rs.500, Cash Balance Rs.8060

Outstanding Annual Subscription Rs.1000, Outstanding General Expenses Rs.200, Salary of the club Secretary Rs.200, Provision for depreciation on Furniture 15%

Or

What do you mean by receipts and payment account? Explain the methods to convert the receipts and payment account into income and expenditure account.

28. A company issued 20000 shares of Rs.10 each. Amount of shares was payable as follows: Rs.2 on application, Rs.2 on allotment, and Rs.2 on the first call and remaining on final call. All the money was received in time. Give the necessary Journal entries in the book of the company and prepare cash book.

Or

Why and how are share forfeited? Explain the rules regarding reissue of forfeited shares.

29. Lala and Raja are partners sharing profits and losses in the ratio of 2:1 respectively. Their Balance Sheet as on 31st March,2021 was as follows:

They admitted Bholaas a partner under the following terms:-

1. Bhola will bring Rs. 80000 as his share of capital to get 1/5th share of profit in future.
2. Goodwill to be considered as Rs.90000 in the books of firm.
3. The value of stock and furniture would be depreciated by 10% and building would be appreciated upto Rs.180000
4. The provision of 5% on the debtors to be credited for bad debts. Find out on the basis of a book information.

i (a) The ratio in which all the partners share future profits and losses.

i(b) Prepare Revaluation Account and partners’ Capital Accounts and

i(c) The Balance Sheet of the new firm.

OR

Prepare Cash Flow Statement from the following information:-

Additional Information:

2000. Payment of dividend Rs.2000.
2001. Machinery costing Rs.4000 was sold for Rs.1000 during the year.
2002. Depreciation charged on machine Rs.5000 and on Land & Building Rs.3000 during the year.
2003. From the following information, prepare a comparative Balance Sheet of the company:

OR

Give the format of Balance Sheet as per Companies Act 2013.

Download UP Board class 12 Accountancy model paper 2023 PDF

Accounting is the language of business. – Warren Buffett

Students pursuing the stream of Commerce cannot do without Accountancy, at least in senior secondary level. Although considered tricky and difficult, you can easily master Accountancy with regular practice. You just need to pay attention to those numbers and the correct answers would follow!

ALSO CHECK: UP Board 2023 Class 12th Model Papers: Download ALL model papers here

All the best!