ACCOUNTANCY BOARD PRACTICAL PAPER -2020-2021

CLASS -XII
Time: 1 Hour Max. Marks: 12

Q1. Two basic measures of liquidity are:

a) Current ratio and Inventory turnover ratio
b) Current ratio and Quick ratio
c) Current ratio and Gross profit ratio
d) Current ratio and Operating ratio (1)

Q2. Which of the following transaction will improve the current ratio?
a) Cash collected from debtors
b) Purchase of goods for cash
c) Payment to trade payables
d) Credit purchase of goods 1)

Q3. An example of cash flows from Investing activity is :

a) Cash revenue from operations
b) Dividend paid
c) Payment of cash for purchase of fixed assets
d) Issue of shares (1)

Q4.Where will you show purchase of Goodwill in a Cash Flow Statement?

a) Cash flow from Operating activities
b) Cash flow from Investing activities
c) Cash flow from Financing activities
d) Cash equivalent (1)

Q5. Issue of Debentures for consideration other than cash is shown under which activity?
a) Operating Activity
b) Investing Activity
c) Financing Activity
d) None of the above (1)

Q6. The quarterly report of a company gives the following information about its various
segment performances:

SEGMENT REVENUE(RS.) NET PROFIT(RS.)

LAPTOPS 20,500 5,000
MOBILE PHONES 40,500 8,000
TABLETS 80,000 24,000
OTHERS 50,000 12,000
Using Ratio analysis, comment on the following
A) Which is the best segment?
B) Which segment should be discarded? (4)
Q7. Calculate Cash Flow from Operating activities from the following Balance Sheet of
AB Ltd.as on 31.3.2019 and 31.3.2020.

Particulars Note. No. 31.03.2020 31.03.2019

Rs. Rs.
I. EQUITY AND LIABILITIES
1. Shareholders’ Funds:
(a) Share Capital 6,08,000 6,10,000
(b) Reserves and Surplus 1 3,00,000 82,000

2. Non-Current Liabilities: 30,000 60,000

Long Term Borrowings
3. Current Liabilities
(a) Short-term Borrowings 2 50,000 32,000
(b) Trade Payable 1,90,000 1,80,000
(c) Short-term Provisions 3 40,000 60,000

Total: 12,18,000 10,24,000

II. ASSETS
1. Non-Current Assets:
(a) Fixed Assets
(i) Tangible 3,02,000 2,00,000
(ii) Intangible 70,000 80,000
(b) Non-Current Investments 90,000 1,50,000

2. Current Assets:
(a) Inventories 88,000 1,40,000
(b) Trade Receivables 5,00,000 4,,00,000
(c) Cash and Cash Equivalents 1,68,000 54,000

Total: 12,18,000 10,24,000

Notes to Accounts:

S.No. Particulars 31.03.2020 31.03.2019

1. Reserves and Surplus

Surplus in statement of Profit and Loss 3,00,000 82,000

2. Short-term Borrowings
Bank Overdraft 50,000 32,000
3 Short-term Provisions
Provision for taxation 40,000 60,000

Additional Information
1. Depreciation charged on tangible assets is Rs.30,000. (3)