NCERT Solutions
Class 12 Accountancy
10 chapters · 19 important questions · Updated 2025-26
Chapter 1
Accounting for Not-for-Profit Organisations
1 exercises · 6 solved →
Chapter 2
Accounting for Partnership: Basic Concepts
1 exercises · 5 solved →
Chapter 3
Reconstitution of a Partnership Firm — Admission of a Partner
1 exercises · 6 solved →
Chapter 4
Reconstitution of a Partnership Firm — Retirement and Death of a Partner
1 exercises · 5 solved →
Chapter 5
Dissolution of Partnership Firm
1 exercises · 5 solved →
Chapter 6
Accounting for Share Capital
1 exercises · 5 solved →
Chapter 7
Issue and Redemption of Debentures
1 exercises · 5 solved →
Chapter 8
Financial Statements of a Company
1 exercises · 5 solved →
Chapter 9
Analysis of Financial Statements
1 exercises · 5 solved →
Chapter 10
Accounting Ratios
1 exercises · 6 solved →
Chapter 11
Cash Flow Statement
1 exercises · 6 solved →
Accounting for Partnership Firms — Fundamentals
Covers partnership deed, fixed and fluctuating capitals, profit and loss appropriation account, past adjustments, and guarantee of profits.
Key Topics
Important Questions
Prepare a Profit and Loss Appropriation Account given the following data: [table]
What is the difference between fixed and fluctuating capital method?
Reconstitution of Partnership — Admission
Covers admission of a new partner, calculation of new profit sharing ratio, sacrificing ratio, goodwill treatment, revaluation of assets and liabilities, and capital adjustment.
Key Topics
Important Questions
X and Y are partners in 3:2 ratio. Z is admitted for 1/5th share. Calculate the new profit sharing ratio and sacrificing ratio.
Prepare the Revaluation Account and Partners' Capital Accounts on admission of Z into a firm.
Reconstitution — Retirement and Death
Covers gaining ratio, goodwill treatment on retirement, revaluation, settlement of retiring partner's account, and treatment on death of a partner.
Key Topics
Important Questions
A, B and C are partners in 5:3:2 ratio. C retires. Find the gaining ratio and new profit sharing ratio.
Prepare necessary accounts on the retirement of a partner.
Dissolution of Partnership Firm
Covers modes of dissolution, Realisation Account, and settlement of accounts. The difference between dissolution of partnership and dissolution of firm is important.
Key Topics
Important Questions
Prepare a Realisation Account, Partners' Capital Accounts and Cash/Bank Account for dissolution of a firm.
What is the order of payment on dissolution of a firm?
Share Capital
Covers types of shares, issue of shares at par/premium/discount, calls in arrears and advance, forfeiture and reissue of shares. Journal entries for each are critical.
Key Topics
Important Questions
Pass journal entries for issue of 10,000 shares at ₹10 each, ₹3 on application, ₹4 on allotment, ₹3 on call.
What is forfeiture of shares? What are the journal entries for forfeiture and reissue?
Debentures
Covers types of debentures, issue (at par/premium/discount), redemption methods (at par/premium, sinking fund, own debentures), and interest payment.
Key Topics
Important Questions
What is the difference between shares and debentures?
Give journal entries for issue of 500 debentures of ₹100 each at 10% discount.
Financial Statements of a Company
Covers the format of Statement of Profit and Loss and Balance Sheet as per Schedule III of Companies Act. Adjustments like depreciation, outstanding/prepaid items, and tax are included.
Key Topics
Important Questions
Prepare a Balance Sheet of a company from the given trial balance and adjustments.
Analysis of Financial Statements
Covers objectives, tools (comparative, common size), and limitations of financial analysis. Comparative and common size statements are exam favourites.
Key Topics
Important Questions
Prepare a Comparative Balance Sheet from the given data.
What are the limitations of financial statement analysis?
Accounting Ratios
Covers liquidity, solvency, profitability, and activity ratios. Quick ratio, debt-equity ratio, gross profit ratio, and inventory turnover are commonly asked in exams.
Key Topics
Important Questions
Calculate the Current Ratio and Quick Ratio from the given balance sheet.
A company's gross profit is ₹2,00,000 and net sales are ₹8,00,000. Calculate the gross profit ratio.
Cash Flow Statement
Covers operating, investing, and financing activities. Preparation of cash flow statement using indirect method is a full question in board exams.
Key Topics
Important Questions
Prepare a Cash Flow Statement from the given Balance Sheet and additional information.
What is the difference between cash flow from operating and investing activities?
Frequently Asked Questions
Is NCERT enough for CBSE Class 12 Accountancy board exam?
Yes. CBSE board exams are designed entirely around NCERT. 80–90% of questions in the Class 12 Accountancy paper are directly based on NCERT concepts — sometimes reworded, never from outside NCERT. Completing all 19 important questions listed here is the minimum you need.
How to study NCERT Class 12 Accountancy for board exams?
Go chapter-by-chapter. Read the chapter first, then attempt the important questions without looking at answers. Check your answer structure — CBSE gives marks per point, so structure matters as much as content. For 5-mark answers: brief intro + 4–5 numbered points with keywords + conclusion.
Which chapters are most important in Class 12 Accountancy for CBSE boards?
Chapters with the most long-answer (5-mark) important questions carry the most marks in the board paper. Look at which chapters here have the highest question count — those are the ones CBSE has historically focused on. Don't skip any chapter, but spend extra time on these.
How many questions come from NCERT in CBSE Class 12 Accountancy exam?
Nearly all 19 questions in the Class 12 Accountancy board paper are rooted in NCERT. The exact question may be reworded, but the concept, definition, or formula always comes from the NCERT textbook. Practicing these 19 important questions covers the vast majority of what can be asked.