Goa Board Class 12 Question Paper 2025 Accountancy

2025 II 17 0930 Seat No.

Time : 2 Hours ACCOUNTANCY
Subject Code

V 4 2 2 5

Total No. of Questions : 23 (Printed Pages : 4) Maximum Marks : 50

INSTRUCTIONS : (i) There are four sections in the question paper (A, B,
C & D) consisting of 23 questions.

(ii) In Section A there are eight questions of which question
nos. 1 to 4 are Multiple Choice Questions. Question nos.
5 & 6 are to be answered in one word, phrase or figure
and question nos. 7 & 8 are to be answered in one
sentence each.

(iii) Attempt all the questions, however, internal choice is
given for question number 20 and 23.

(iv) Figures to the right indicate marks allotted to each
question.

(v) Write the number of each question clearly on the answer-
book.

(vi) Non-scientific and non-programmable calculator is
allowed.

SECTION A

1. The method of depreciation suitable for assets like Loose Tools is ........... 1

• Reducing Balance Method

• Depletion Method

• Fixed Installment Method

• Revaluation Method

2. The minimum number of designated partners required in a Limited Liability
Partnership is ........................ . 1

• 02

• 05

• 07

• 10

3. When goodwill is raised at the time of admission of a partner, the account
to be debited is ..................... . 1

• Goodwill Account

• Cash Account

• Old Partners Capital Account

• New Partners Capital Account

4. At the time of dissolution of a partnership firm, loss on realization of assets
and liabilities is shared by the partners in ........................... . 1

• Sacrifice ratio

• Gain ratio

• Old Ratio

• New Ratio

5. Name the account to be debited in the case of loss on sale of asset. 1

6. Give a term used in a non-trading concern for excess of income over expenditure.

1

7. What is Profit & Loss Appropriation account ? 1

8. Give any two modes of settlement of a deceased partner. 1

SECTION B

9. Explain the following terms : 2

(i) Goodwill

(ii) Sacrifice Ratio.

10. Ajay, Kalpesh and Rohit are partners, sharing profits and losses in the ratio

of 4 : 3 : 3. Kalpesh retires from the firm and the new ratio between Ajay

and Rohit is agreed upon as 3 : 2. Calculate the Gain Ratio. 2

11. Explain the following terms : 2

(i) Legacy

(ii) Honorarium.

12. Explain the following terms : 2

(i) Capital Expenditure

(ii) Revenue Receipts.

13. Explain any two features of a Company. 2

14. Explain the following : 2

(i) Forfeiture of Shares

(ii) Re-issue of Shares.

SECTION-C

15. Explain any three causes of depreciation. 3

16. State any six contents of Partnership Deed. 3

17. Explain any three advantages of Limited Liability Partnership. 3

18. Profits and Losses of a firm for the last five years are given below : 3

Years Profits/Losses Amount (Rs.)

2019 Profit 1,10,000/-

2020 Profit 1,00,000/-

2021 Profit 75,000/-

2022 Profit 35,000/-

2023 Loss 20,000/-

The capital investment of the firm is ` 3,00,000/-. The normal rate of return
in the market is 15%. Calculate the value of goodwill on the basis of three
years purchase of super profits of last five years under Super Profit Method.

19. Distinguish between retirement and death of a partner, giving any three points
of disinction. 3

20. State any six features of Income and Expenditure Account. 3

OR

State any six features of Receipts and Payment Account.

SECTION D

21. Draw a neat pro forma of Profit & Loss Appropriation account, showing at
least four items on each side. 4

22. Explain the circumstances leading to the dissolution of a partnership firm.

4

23. Explain any four types of Capital. 4

OR

Explain any four types of Preference Shares.