Central Board of Secondary Education (CBSE) and The Indian Certificate of Secondary Education (ICSE) board follow different patterns for Accounts Class 12 Board exam. But tips for accountancy class 12 board exam remains quite similar for preparation of both the board exams.

In this article following topics are discussed to give a strategic plan for preparing for Class 12 Board exams:

  • Topic-wise Marks distribution and blueprint of revised syllabus of CBSE and ICSE boards.
  • Sample important questions with answers and marks distribution. To get an idea about how to write answers to the point according to marks distribution.
  • Sample solved questions are provided for CBSE and ICSE in different sections.
  • Important tips for starting the preparation, tips for accountancy class 12 board exam to follow one month before the main exam, and tips to follow during the exams are bonus points of this article.
  • Some of the frequently asked questions like which books to refer to and how to score 100 in accountancy subjects are discussed in the last portion of the article.

Class 12 Accountancy Important Questions

Class 12 Accountancy Important Questions

Marks distribution strategy for Class 12 Accounts

Both the ICSE and CBSE boards conduct one theory paper and a practical examination for Accounts subject with a weightage of 80 and 20 marks respectively.

Time allowance for theory exam is of 3 hours and for practical examination, the one-hour time duration is permitted.

CBSE Class 12 Accounts blueprint

CBSE Board and ICSE board exam pattern are slightly different. In CBSE boards, each section carries the similar types of questions based on the unit-wise weightage of each unit. CBSE does not have any certain limits on choices provided among questions.

Section Topics Marks
Part A Accounting for Not-for-Profit Organizations, Partnership Firms and Companies
Unit 1. Financial Statements of Not-for-Profit Organizations 10
Unit 2. Accounting for Partnership Firms 20
Unit 3. Accounting for Companies 30
Total 60
Part B Financial Statement Analysis
Unit 4. Analysis of Financial Statements 12
Unit 5. Cash Flow Statement 08
Total 20
Part C Project Work 20
Project work will include:  
Project File 4
Written Test 12
Viva Voce 4
Or  
Part B Computerized Accounting
Unit 4. Computerized Accounting 20
Part C Practical Work 20
Practical Work will include:  
Practical File  4
Practical Examination  12
Viva Voce 4

ICSE Class 12 Accounts Blueprint

In ICSE boards, Section A is the top priority section in the complete syllabus. As there are no choices available in this section. The only option available for ICSE board students is between section C and section B. Students are given the choice to choose any one section from section C and section B and attempt any two out of three questions from the preferred section.

Section Topics Marks
Section A   Part I: short answer questions, testing knowledge, application and skills relating to elementary/fundamental aspects of the entire syllabus. 40
Part II: Candidates will be required to answer four questions out of seven from this part.  20
Total 60
Section B Two questions out of three questions (10 marks each) are required to be attempted if this is the preferred section 20
Section C Two questions out of three questions (10 marks each) are required to be attempted if this is the preferred section 20
Section D Practical Work 20
Practical Work will include  
Practical File  4
Practical Examination  12
 iva Voce 4

Class 12 Accountancy Important Questions PDF

Class 12 Accountancy Important Questions PDF

Sample Questions with Answers

Sample papers along with their solutions and marking scheme is available on the official website of CBSE (www.cbse.nic.in) as well as on ICSE boards www.cisce.org. Some of the subject expert’s recommended questions along with their answers and marking scheme is discussed below, to get an overview of the question paper of the revised syllabus and how to answer them according to the marking scheme.

CBSE Sample Questions 

Que1: Which of the following items is not dealt through Profit and Loss Appropriation Account? Mark: 1

  1. Interest on Partner’s Loan 
  2. Partner’s Salary 
  3. Interest on Partner’s Capital 
  4. Partner's Commission

Ans: a. Interest on Partner’s Loan 

Que2: Sports Star Charitable club has income of ` 16,000 and ‘deficit’ debited to capital fund of ` 4,300 for the year 2019- 20, then expenditure for the year 2019-20 is: Mark: 1

  1. 11,700 
  2. 4,300
  3. 20,300 
  4. None of these

Ans: c. 20,300

Que3: From the following information, calculate the amount to be charged to Income and Expenditure Account for 'Sports material consumed' for the year 2019-20. Mark: 3

Particulars  Amounts()
Stock of Sports material (01-04-2019)  60000
Amount paid to creditors (during 2019-20) 3,00,000
Creditors for Sports Materials (01-04-2019)  1,00,000
Creditors for Sports Materials (31-03-2020) 80000
Sports Material sold During the year (Book Value Rs.35,000) 15000
Cash Purchases of Sports Material (During the Year 2019-20)  1,30,000

There was zero stock at the end of the financial year 2019-20. Ans: Dr. Creditors for Sports Materials A/c Cr. 

Particulars  Amount Particulars Amount
To Bank/Cash A/c
To Balance C/d 
300000
80000
By Balance b/d By Vendors (Credit purchase of sports material)  100000
280000
380000 380000

Table for calculation of Sports Material Consumed:

Credit Purchase of Sports Material Add: Cash Purchase of Sports material Add: Stock of Sports material (01-04-2019) Less: Book Value Of sports material sold during the year
Sports material consumed during the year (Amount t/f to Income and Expenditure account) 
280000 130000 60000 (35000) 
435000 

*Calculation of Sports material consumed by alternative methods should be accepted.

(1+2=3 marks) 

Que4: Explain ‘Sequential’ and ‘Mnemonic’ codes.

Ans: Sequential codes 

These are the codes in which code numbers and/or letters are assigned in a consecutive order. These codes are applied primarily to source documents such as cheques, invoices etc. This facilitates document searches. This process enables either identification of missing codes (numbers) relating to a particular document or to trace a relevant document on the basis of the codes. 

Mnemonic codes 

These codes consist of alphabets or abbreviations as symbols to codify a piece of information. SJ for sales journal, HQ for Headquarters are examples of mnemonic codes.

Accounts Important Tips

The fact of studying hard only gives fruitful results when it is planned strategically. The following few tips for the accountancy class 12 board exam must be kept in consideration while planning for the main exams.

  • Keep a printed copy revised syllabus for the 2020-2021 session.
  • Follow the syllabus thoroughly from NCERT books at least once before referring to other books.
  • Solve sample papers and previous year papers and consult teachers in case of any doubts.
  • Keep track of the board's official website for the latest updates or allow notifications from Toprankers to get updated.
  • Don’t be afraid to write! There is no negative marking in board examinations. So it is an important tip to write as much as possible. First, complete the easy portion with fluency. And then sometimes guessing the answer instead of straightly leaving it works as wonders.
  • Write in clear handwriting and try to avoid cutting the answer after writing it. Read the question twice and think of the complete answer at a glance, before writing it to avoid such mistakes.
  •  Try to attempt all parts of a question sequentially. It really creates less mess in the answer sheet and creates a positive impact on the examiner.
  • Check the total number of questions in the question paper and divide the time allowed accordingly. Create a pace from the very beginning to be able to attempt all the questions in time.

FAQ's

How to score full marks in class 12 accountancy?

Quick calculations without using any device and excellent arithmetic skills are the basic qualities needed to score high in accountancy. Writing answers to the point and in tabular form  are important tips to score 100 in accountancy class 12 board exam.

Is it sufficient to read NCERT books and not any reference book?

To get a brief and precise knowledge about the subject it is important to read NCERT books thoroughly. But for practicing those  concepts to score high in board examination it is crucial to take a reference book as well. The reason behind it is that NCERT books contain very limited solved examples and are not enough to bring the concept on finger tips.


Is class 12 accounts difficult?

The accountancy paper is not a very difficult paper but the fact that it is quite lengthy makes it comparatively difficult to complete on time. ‘One mark’ questions usually include  tricky calculations which makes it difficult to score competitively high.

What are the tips for accountancy class 12 board exams?

Class 12 Accountancy board exam tips has three main components:

  1. How to start studying for class 12th accountancy.
  2. How to revise one month before final examination.
  3. Tips to remember during the examination.

1.How to start studying for class 12th accountancy.

  • Start gaining concept knowledge topic by topic from NCERT books.
  • Give one hour everyday for self-study.
  • Practice at least two questions every day for the concept studied per day.
  • Practice calculation related problems with timer.

2.How to revise one month before final examination.

  • Practice previous year paper in 3 hour time period to get habitual of completing paper in given time span.
  • Practice current year sample paper of revised syllabus to take note of important questions of this year.
  • Practice more analytical and arithmetic questions as they incorporate more weightage in the examination.
  • Practice writing to the point answers to questions to manage time properly for each and every question.

3.Tips to remember during the examination.

  • Write in clear handwriting and try to avoid cutting the answer after writing it. Read the question twice and think of the complete answer at a glance, before writing it to avoid such mistakes.
  •  Try to attempt all parts of a question sequentially. It really creates less mess in the answer sheet and creates a positive impact on the examiner.
  • Check the total number of questions in the question paper and divide the time allowed accordingly. Create a pace from the very beginning to be able to attempt all the questions in time.
  • Recheck answers at least once before submitting the answer sheet.

How to complete an accounts paper on time?

Use the reading time in choosing between choices provided in the questions.Don't take more than 20 minutes to answer the 8-mark questions. Take a maximum of 35 to 40 mins to complete section B. Do one mark questions after attempting higher marker questions as these are the most tricky and time consuming ones.


Can I choose commerce if I am bad at maths?

In Commerce stream, specially in accountancy subject good knowledge of maths is definitely required. Otherwise, it would be difficult to pass this subject. It is advisable not to choose Commerce stream if maths is your weak point because this could be your biggest challenge to clear even the secondary education.


Which are the recommended books for accountancy class 12?

Top recommended Text books and reference books are listed below:

Publisher/Author NameBook Name Price
NCERTAccountancy textbook Not-for-Profit Organisation and partnership Accounts for Class 12th Rs.100/-
NCERTAccountancy textbook Company Accounts and Analysis of Financial Statements for Class 12thRs.110/-
NCERTLekhashastra IRs.130/-
NCERTLekhashastra IIRs.145/-
Neeraj Publications NIOS Accountancy for class 12th in Hindi MediumRs.175/-
D K Goel and Rajesh GoelAccountancy (Part A) Vol I,Class-XIIRs.495/-
D K Goel and Rajesh GoelAnalysis of financial statement Class XII, Part BRs.475/-