SOF ICO Sample Paper 2024 Class 12

LEBRAT CE F IN SO G SAMPLE PAPER SYLLABUS 2023-24 CLASS Total Questions : 50 Section PATTERN & MARKING SCHEME (1) Economics (2) Business Studies (3) Accountancy Time : 1 hr. (4) Achievers Section 12 No. of Questions 15 15 15 5 Marks per Ques. 1 1 1 3 SYLLABUS Section – 1 : Introductory Macroeconomics, Indian Economic Development. Section – 2 : Nature and Significance of Management, Principles of Management, Business Environment, Planning, Organising, Staffing, Directing, Controlling, Financial Management, Financial Markets, Marketing Management, Consumer Protection. Section – 3 : Financial Statements of Not-for-Profit Organisations, Accounting for Partnership Firms, Accounting for Companies, Analysis of Financial Statements, Cash Flow Statement, Computerised Accounting. Section – 4 : Higher Order Thinking Questions - Syllabus as per Section-1, Section-2 and Section-3. ECONOMICS 1. Which of the following is also known as ‘non – factor Revenue receipts = ` 70 inputs’? Capital receipts net of borrowings = ` 140 (A) Intermediate products Interest payments = ` 30 (B) Final products (A) Revenue deficit = ` 40, Fiscal deficit = ` 90, (C) National income Primary deficit = ` 60 (D) Consumer products (B) Revenue deficit = ` 30, Fiscal deficit = ` 90, 2. Why externalities are a limitation of taking GDP as an Primary deficit = ` 60 index of welfare? (C) Revenue deficit = ` 40, Fiscal deficit = ` 60, (A) It helps GDP to rise. Primary deficit = ` 30 (B) GDP fails to value the cost of such factors. (D) Revenue deficit = ` 30, Fiscal deficit = ` 60, (C) It results in a decrease in GDP. Primary deficit = ` 30 (D) It will have no effect on GDP. 4. For a straight line consumption function, which of the 3. From the following data about government, find revenue following is true? deficit, fiscal deficit and primary deficit : (A) MPC is constant at all levels of income. Plan capital expenditure = ` 120 (B) MPC is increasing at all levels of income. Revenue expenditure = ` 100 (C) MPC is decreasing at all levels of income. Non plan capital expenditure = ` 80 (D) MPC is negative at all levels of income. BUSINESS STUDIES 5. Management is a process of (B) Dynamics of business, environment may change (A) Getting things done (C) Planning is futuristic (B) Achieving goals effectively (D) All of these. (C) Achieving goals efficiently 8. Which of the following cannot be achieved by control (D) All of these. function of a management? 6. The principles of management are significant because (A) Controlling functions can suitably modify the of external factors of business environment. (A) Increase in efficiency (B) The controlling function is used to ensure that the (B) Initiative organisation meets its business goals. (C) Optimum utilization of resources (C) Controlling functions help the organisations in their (D) Adaptation to changing technology. effort to improve quality by verifying if the standards 7. Planning may not guarantee success because set are accurate and objective. (A) Top level plans and middle level management (D) Controlling helps to reduce wastage of resources implements thereby increasing efficiency and effectiveness. Sample Paper | Class-12 | 1

ACCOUNTANCY 9. X, Y and Z are partners sharing profit in the ratio of 5 : received and allotment was made to all the applicants 3 : 2. They decide to share future profits in the ratio of 2 on pro-rata basis. Directors decided to adjust excess : 3 : 5 with effect from 1st April, 2016. They also decide application money towards allotment. Calculate the to record the effect of following revaluations without amount transferred to Share Allotment. affecting the book values of assets and liabilities, by (A) ` 60,000 passing single adjusting entry : (B) ` 70,000 Book Revised (C) ` 85,000 Figure (in `) Figure (in `) (D) None of these Land and Building 3,00,000 4,50,000 11. Depreciation is charged on Plant and Machinery 4,50,000 4,20,000 (A) Current Assets Trade Creditors 1,50,000 1,35,000 (B) Fixed Assets Outstanding Rent 1,35,000 1,80,000 (C) Both Current and Fixed Assets The necessary single adjusting entry will be : (D) None of these. (A) Dr. Z and Cr. X by ` 27,000 12. For a manufacturing concern interest received by (B) Dr. X and Cr. Z by ` 27,000 other financial enterprises is shown as _____ activity, (C) Dr. Y and Cr. X by ` 27,000 however interest paid to other financial enterprises is (D) Dr. X and Cr. Y by ` 27,000 shown as ________ in cash flow statement. 10. M Ltd issued 10,000 shares of ` 50 each. The amount (A) Operating, financing of share was payable as follows : (B) Investing, financing ` 15 on application, ` 10 on allotment and balance of (C) Financing, investing first and final call. Applications for 15,000 shares were (D) Operating, investing ACHIEVERS SECTION 13. From the following information, calculate return on 14. Liberalisation means investment (or return on capital employed) . (A) Integration among economies Particulars ` (B) Reduced government controls and restrictions Share Capital 5,00,000 (C) Policy of planned disinvestments Reserves and Surplus 2,50,000 (D) None of these. Net Fixed Assets 22,50,000 15. Explain how the production possibility curve is affected Non-current Trade Investments 2,50,000 when resources are inefficiently employed in an Current Assets 11,00,000 economy? 10% Long-term Borrowings 20,00,000 (A) PPC will shift downward. Current Liabilities 8,50,000 (B) PPC will shift upward. Long-term Provisions NiL (C) No change in PPC. Net Profit before Tax is ` 6,00,000. (D) Will move from one point to another on the same (A) 29.09% (B) 39.09% (C) 49.09% (D) 9.09% PPC. SPACE FOR ROUGH WORK ANSWERS ICO – 1. (A) 2. (B) 3. (B) 4. (A) 5. (D) 6. (C) 7. (B) 8. (A) 9. (B) 10. (D) 11. (B) 12. (B) 13. (A) 14. (B) 15. (C) 2 | Sample Paper | Class-12