Goa Board Class 12 Sample Paper 2023 Cost Accounting & Taxation

Sample Paper
&
Question Paper Pattern
2022
2023

GOA BOARD

COST ACCOUNTING AND TAXATION XII - 2022-23
COST ACCOUNTING AND TAXATION (THEORY ) XII AA
Syllabus in respect of the Assessment year 2022-23*, as applicable for
the Current Academic year 2022-23.
TERM I
Unit Name of Sub units/Scope and limitations Weightage No. of
No. the Unit ( Marks) Periods
Profits & Definition of business & profession, Basis of charge sec 28, 08 20
1 Gains of deduction allowed sections
Business 30,31,32,35,35ABA,35D,35DDA,36(1)(i)to36(1)(xiii),37(1)
or & 37(2B),
Profession Disallowances- Sections 40, 40A(2), 40A(3) with Rule
6DD, Specified books to be maintained sec 44AA with Rule
6F, Audit of Accounts sec 44AB, Computation of Income
from Business sec 44AD,Computation of profits & gains of
retail business sec 44ADA.

Deductions Deductions- sections 80C, 80 CCC, 80CCD, 80D, 80 09 15
2 under DD, 80 DDB, 80E, 80EE,80EEB, 80G, 80 GG, 80TTA,
chapter 80TTB, 80U,- provisions /conditions and amount of
VI-A deduction allowed only.

3 Rates of Rates of tax applicable to individuals only –i.e 03 03
Income Individual below the age of 60 years, Senior citizens, super
Tax, senior citizens.
surcharge, Surcharge /Health and Education cess etc. applicable only
cess to Individuals
Rebate Rebate sec.87A.
,etc Alternate Tax Regime U/s 115BAC – Applicable to
Individuals, Conditions/Consequences of opting for
Alternate Tax Regime. When will ATR is beneficial e.g.
For Income Range, deductions, housing loan etc.

TOTAL 20
TERM II
4. Cost Methods of costing –Job order costing, contract costing, 04 05
Concepts batch costing, process costing , operation costing, /unit
costing, operating/service costing, Techniques of costing –
standard, budgetary control, marginal , absorption, uniform
costing.
5 Material Direct & indirect material cost, Meaning of material control, 09 19
Cost & objectives, essentials/ principles of inventory control,
Control techniques of inventory control, ABC Analysis, advantages,
perpetual inventory System, EOQ.
Stock levels- max., min., re-order, danger, average, Just in
time purchasing, lead time. Purchase procedure- requisition,
selection of suppliers, purchase order and follow up,, receipt
of materials, inspection & testing of materials ,payment to

Suppliers. Objectives of good store keeping, functions &
duties of store keeper, bin card, material requisition note.
Methods of pricing of materials issues-LIFO, FIFO &
SIMPLE AVERAGE ( only meaning )
6 Labour Direct & indirect Labour cost, five depts. which deal with 04 17
Cost & Labour, time & motion study ,objectives of time & motion
Control study, job descriptions/responsibilities, objectives of time

keeping, methods of time keeping ,methods of job Time
booking, pay roll dept., overtime disadvantages.
Casual workers, idle time, Absenteeism.
7 Overhead Nature & classification, nature, function, variability. 03 14
Collection of overheads, allocation & apportionment of
overheads, production & service Depts. principles of
apportionment, basis of apportionment.
TOTAL 20
Total ( Term I + Term II) 40

*Please note: Any new section introduced or any section/s replaced by Finance Act, or by any other
amendment/s in respect of individuals shall be included in the syllabi automatically.
* E & OE.

SCHEME OF EXAMINATION FOR THEORY PAPER (2022-23)

I TERM BOARD EXAM (All 20 MCQ Questions)………….………...……..… 20Marks

II TERM BOARD EXAM (Subjective Paper) - No MCQ Questions to be asked..20Marks

INTERNAL TEST MARKS (Average) ………...………………………………. 10Marks

(1st Internal test + 2nd Internal Test + Innovative Test/6 = 20+20+20/6)

TOTAL ………………………………………………………………………… 50Marks

COST ACCOUNTING AND TAXATION (PRACTICAL) XII AA
Practicals are to be conducted as per Continuous and Comprehensive Evaluation method
(CCE)

Syllabus in respect of the Assessment year 2022-23*, as applicable for
the Current Academic year 2022-23.

TERM I
Unit Topics Practical Marks Periods
1 Problems on 1 One Practical test / assessment on 8+8 =16
computation of computation of income from business
Profits and 2 Second Practical test / assessment on 18
Gains of computation of income from Profession
Business or (problems on profession of C.A., cost

Profession acctt, lawyer , doctor , builder/contractor
( Applicable to etc)
individuals
only)

2 Problems on 1 One Practical test / assessment on
computation of computation of Total income (from
Total income various Heads of income) and tax 12+12=24 30
and tax payable payable
2 Second Practical test / assessment on
computation of Total income & tax
payable
No hard and fast rule to take which head/s
of income/s .
Better be practical to give problems on
Total Income & tax payable generally
applicable
VIVA 5
FILE 5

TOTAL MARKS 50

TERM II

Topics Practical Marks periods

1 Cost sheet Problems on cost sheet / cost estimate 10 12
2 Material pricing Problem on pricing of issue of materials 10 12
any method/s
3 Contract costing Problem on contract costing giving all 10 10
relevant information
4 Process costing Problem on process costing 10 14
,normal/abnormal loss , oil refineries’
VIVA 5

FILE 5

TOTAL MARKS 50

I TERM MODEL QUESTION PAPER STD. XII
(FOR THE ACADEMIC YEAR 2022-23 ONLY)

COST ACCOUNTING & TAXATION
STD: XII DURATION: 1 HOUR
MAX. MARKS: 20

INSTRUCTIONS:
i. All questions are compulsory.
ii. Question no. 1 to 20 consists of Multiple-Choice Questions.
iii. Figures to the right indicate marks allotted to each question
iv. Use of non-scientific calculator is permitted
v. Write the number of each question clearly on the answer book
vi. All sections referred are from Income Tax Act 1961, as applicable for the Assessment Year
2022-23.

1. Which of the following income is not chargeable as income from Business or profession? 1

A) Winning from horse races.
B) Salary received by a partner of a firm from the firm in which he is a partner.
C) Profits & gains of Business carried on by an assessee during the previous year.
D) Income from Speculative Business.

2. The rate of depreciation under section 32, applicable in respect of furniture is 1
_____________.
A) 5%
B) 10%
C) 15%
D) 20%

3. Which of the following is allowed as deduction while computing Income from Business or 1
Profession?
A) Wealth Tax Paid
B) Income Tax Paid
C) GST Unpaid
D) Staff Salary Paid
4. Bad debts of a Business debited to profit & loss account, is allowed as deduction as per 1
section
A) 32
B) 35
C) 36
D) 37

5. The provisions of section 44AD for computation of presumptive income are not applicable 1
to______________.
A) Limited Liability Partnership

B) Partnership Firm
C) Resident Hindu Undivided Family
D) Resident Individual

6. Under the head ‘ Profits & gains of Business or Profession, the method of 1
accounting to be followed, is_____________
A) Cash system only.

B) Mercantile system only.
C) Cash or Mercantile system
D) Hybrid system only

7. As per section 35DDA, the total expenditure towards Voluntary Retirement 1
Scheme is allowed as deduction in _________
A) 3 equal installments.
B) 5 equal installments.
C) 10 equal installments.
D) 15 equal installments.
8. Books of Accounts are liable for compulsory Audit U/S 44AB, if the annual 1
turnover of a business exceeds Rs. __________.
A) 50 Lakhs
B) 60 Lakhs
C) 100 lakhs
D) 200 lakhs
9. Which of the following Investment/savings is not eligible for deduction under 1
section 80C?
A) Public Provident Fund
B) Life Insurance Premium
C) Principal repayment of Home Loan Account
D) Saving Bank Account Deposit.
10. The additional amount of deduction available under section 80CCD(1B), in respect 1
of contribution to National Pension Scheme is ________.
A) Rs. 50,000/-
B) Rs. 75,000/-
C) Rs. 1,00,000/-
D) Rs. 1,50,000/-

11. Which of the following donation is not eligible for 100% deduction under section 1
80G?
A) National Defense Fund set up by the Central Government.
B) National Illness Fund
C) National Sports Fund.
D) Prime Ministers Drought Relief Fund.

12. The maximum amount of deduction available under section 80TTB, in respect of in 1
Interest on any deposits for senior citizen is Rs. _____________.
A) 10,000.
B) 15,000.
C) 50,000.
D) 1,50,000.
13. What is the number of years in which the deduction is allowed for Interest on 1
Educational Loans under section 80E?
A) 4 years

B) 5 years
C) 7 years
D) 8 years

14. The maximum amount of deduction allowed per year towards Rent Paid under 1
section 80GG is __________.

A) 1,00,000
B) 75,000
C) 60,000
D) 50,000

15. The deduction in respect of Contributions to certain Pension Funds under section 1
80CCC is allowed to ___________.
A) Partnership Firm.
B) Company
C) Individual
D) Limited Liability Partnership.

16. The amount of deduction allowed under section 80EE, in respect of Payment of 1
Interest on loan taken for residential house property is Rs. _________.
A) 50,000
B) 75,000
C) 1,00,000
D) 1,50,000.
17. Under section 80U, the fixed amount of deduction allowed to a person with severe 1
disabilities is. ________.
A) Rs. 75,000/-
B) Rs. 1,00,000/-
C) Rs. 1,25,000/-
D) Rs. 1,50,000/-
18. The maximum amount of rebate on tax payable allowed under section 87A, in 1
respect of an Individual where total income does not exceed Rs. 5,00,000/- is Rs.
__________.
A) 2,500.
B) 5,000.
C) 12,500.
D) 15,000.

19. What is the rate of tax for income tax slab between the income of Rs. 5 lakhs and 1
Rs. 7.5 lakhs under new tax regime?
A) 5%.
B) 10%
C) 15%
D) 20%.

20. The percentage of surcharge payable by an Individual, whose total income exceeds 1
50,00,000/- is __________.
A) 10%
B) 15%
C) 20%
D) 25%

BLUE PRINT FOR FIRST TERM MODEL QUESTION PAPER
Subject:Cost Accountiing &
Taxation

Objective knowledge Understanding Application Skill Total
Content O VSA S E O VSA S E O VSA S E O VSA S E

1. Profits & gains 5(1) 3(1) 8
of Business or
Profession

2.Deductions under 8(1) 1(1) 9
chapter VIA

3. Rates of Tax etc. 3(1) 3

20
Note: Figures outside the brackets indicate the number of questions and figures within the brackets indicate
Marks.
* Indicate internal choice Question.

II TERM MODEL QUESTION PAPER STD. XII
(FOR THE ACADEMIC YEAR 2022-23 ONLY)

COST ACCOUNTING & TAXATION
STD: XII DURATION: 1 HOUR
MAX. MARKS: 20

INSTRUCTIONS:

i There are three sections in this question paper (A, B & C)
ii In Section A there are four questions of which, question no. 1 & 2 are to be answered in a word, phrase
or figure and question no. 3 & 4 is to be answered in one sentence each.
iii Figures to the right indicate marks allotted to each question.
iv Use of non-scientific calculator is permitted
v Write the number of each question clearly on the answer book
vi Answer all questions from section A and Section B
vii Answer any two questions from Section C.
viii All LEGAL SECTIONS referred are from Income Tax Act 1961, as applicable for the Assessment

Year 2022-23

SECTION A
1. What is the term used to denote the formal request to the purchase department to 1 mark
buy the materials mentioned there in.?
2. Name the Technique of Costing where only variable cost and variable overheads 1 mark

are charged to production.
3. What is Fixed Overhead? 1 mark
4. What is Standard Costing? 1 mark
SECTION B
5. Explain in brief the Marginal costing technique of ascertainment of cost 2 marks
6. Write a note on: Time & Motion Study. 2 marks
7. Write a note on: Causal workers. 2 marks
8. State any two objectives of good store keeping. 2 marks
9. Explain any one principle of Apportionment of Overheads 2 marks
SECTION C : Answer any two questions
10. Explain the Technique of ABC Analysis in Inventory Control. 3 marks
11. Explain the FIFO Method of Pricing Material Issues. 3 marks
12. Explain the following stock levels. 3 marks
a) Re-order level
b) Maximum level

Blue Print for Second Term Model Question Paper
Subject:Cost Accountiing &
Taxation

Objective knowledge Understanding Application Skill Tota
l
Content O VS S E O VS S E O VS S E O VS S E
A A A A

1. Cost 2(1) 1(2) 4
Concepts

2.Material cost 1(1) 1(2) 3(3)* 9
control

3. Labour cost 2(2) 4
control

4. Overheads 1(1) 1(2) 3

4(1) 5(2) 3(3) 20
Note: Figures outside the brackets indicate the number of questions and figures within the brackets indicate
Marks.
* Indicate internal choice
Question.