AP Class 12 Model Paper 2027 Commerce

BOARD OF INTERMEDIATE EDUCATION:: ANDHRA PRRADESH
MODEL QUESTION PAPER (w.e.f IPE 2027)
COMMERCE – II
TIME: 3 Hrs Max Marks: 100
PART – I
SECTION – A
Answer ALL the following questions. (4 × 1 = 4)
1. Commerce is generally classified into two trade and __________.

2. The process of proper storage and handling of goods using scientific methods is called
__________.
3. The regulatory authority for the Indian securities market is __________.
4. GST stands for __________.

SECTION – B
Answer any SEVEN of the following questions. (7 × 2 = 14)
5. Wholesaler

6. E-Banking
7. Define the term derivative
8. What is Dematerialisation?
9. Who is Consumer
10. Any two objectives of GST
11. Scalar Chain
12. Planning
13. Who is an entrepreneur?
14. What is an entrepreneurship?

SECTION – C
Answer any FOUR of the following questions. (4 × 4 = 16)
15. What are the various classifications of trade?
16. Describe the functions of the financial market.

17. Describe any four rights of a consumer as per CPA 2019.
18. What are the objectives of GST?
19. Describe the key traits of an entrepreneur.
20. Describe the entrepreneurial opportunities in Andhra Pradesh.

SECTION – D
Answer any TWO of the following questions. (2 × 8 = 16)
21. Discuss various principles of Insurance.
22. Explain the objectives and functions of SEBI.
23. Explain the various functions of Management.

PART - II
SECTION – E
Answer ALL the following questions. (4 × 1 = 4)
24. The main objective of charging depreciation is to ascertain _________ and financial
position.
25. A written document that outlines the rules, responsibilities, and rights of partners is
called a ______.
26. The system in which only one aspect of a transaction is recorded is called the ____
system.
27. All accounting data in CAS is stored electronically in the system’s ________

SECTION - F
Answer any SEVEN of the following questions. (7 × 2 = 14)
28. What is Obsolescence ?
29. What is a Subscription ?
30. Define partnership.
31. Archana and Swetha are partners sharing profits in the ratio of 3:2, with capitals of
Rs.50,000 and Rs.30,000 respectively. Interest on capital is agreed to be paid @ 6%
p.a. Calculate interest on capital.
32. Define Goodwill
33. Who is an insolvent partner?
34. Authorized share capital
35. What is meant by accounts from Incomplete records?
36. From the following, find the profit earned by a trader:
Capital at the beginning of the year: Rs 8,000
Capital at the end of the year: Rs 11,000
37. What is Computerised Accounting?

SECTION - G
Answer any TWO of the following questions. (2 × 4 = 8)
38. On 1st January 2021, Neha Enterprises purchased a machine for Rs. 4,00,000 and
spent Rs. 60,000 on its installation. It is estimated that the working life of the machine
is 8 years, and after 8 years its scrap value will be Rs. 40,000. Books are closed on
31st December every year. Prepare the Machine Account for the first three years in
the books of Neha Enterprises according to the Straight Line Method.

39. List any four reasons why a partnership firm might be dissolved.
40. Find out the profit from the following data:
Capital at the beginning: Rs 50,000
Capital at the end: Rs 60,000
Drawings during the year: Rs 6,000
Additional capital introduced: Rs 5,000.
41. What are the main limitations of Computerised Accounting System?

SECTION - H
Answer any ONE of the following questions. (1 × 8 = 8)

42. Prepare the Income & Expenditure Account of Leela Chess Academy for the year
ended 31 December 2025 from the following particulars.

Receipts and Payments Account

Dr Cr
Receipts Amount (₹) Payments Amount (₹)
To Balance b/d 12,000 By Salaries 9,000
To Subscriptions 16,000 By Rent & Taxes 3,500
To Entrance Fees 5,000 By Stationery 1,500
To Interest 1,000 By Postage 500
By Investments 15,000
To Sale of Furniture 2,000
By Balance c/d 6,500
36,000 36,000

Adjustments:

1. Salaries outstanding at the end of the year: ₹1,000.
2. Subscriptions due for the year 2025: ₹4,000.
3. Book value of furniture sold: ₹3,000.

43. XYZ Company Ltd issued 10,000 shares of Rs. 50 each for subscription to the public.
Payable at Rs. 20 per share on application, Rs. 20 per share on allotment and the
balance Rs. 10 on first and final call. All the amounts were duly received. Make
journal entries in the books of the company.

SECTION - I
Answer the following question. (1 × 16 = 16)
44. Ishan and Vihan are partners in a firm, sharing profits and losses in the ratio of 5:3, on
31st December, 2024 their Balance sheet was as under:

Liabilities Amount Assets Amount
(Rs.) (Rs.)
Sundry 30,000 Machinery 1,20,000
Creditors
Bills Payable 30,000 Stock 80,000
Capitals: Debtors 70,000
Ishan– Cash at Bank 7,000
1,00,000
Vihan – 2,20,000 Cash in Hand 3,000
1,20,000
2,80,000 2,80,000

On the above date they decided to admit Vishwa as a partner on the following terms:
1. Vishwa will bring Rs. 90,000 as his capital and Rs. 24,000 for his share of goodwill
for 1/4th share in the profit.
2. Machinery is to be valued at Rs. 1,50,000 and stock to be valued at Rs.1,00,000
3. Provision for bad debts of Rs. 10,000 is to be created.
Prepare Revaluation A/C, Partners’ Capital A/C and new Balance Sheet.