CBSE Class 12 Accountancy Question Paper 2026 Set - 3 (67/2/3) is now available for download. CBSE conducted the Class 12 Accountancy examination on Feb 24, 2026, from 10:30 AM to 1:30 PM.
Also Check: CBSE Class 12 Question Paper 2026 (All Subjects)
The question paper consists of 34 questions carrying a total of 80 marks:
- Part A is compulsory for all candidates
- Part B has two options, and candidates have to attempt only one of the given options
- Option I : Analysis of Financial Statements
- Option II : Computerised Accounting
The Accountancy question paper 2026 was rated moderately difficult by the students.
CBSE Class 12 Accountancy Set - 3(67/2/3) Question Paper 2026 with Solution Pdf
| CBSE Official PDF | CD PDF | CD PDF with Solutions |
|---|---|---|
| Download official PDF 6.53 MB | Download Collegedunia PDF 0.34 MB | – |
CBSE Class 12 Accountancy 2026 Set 3 (67/2/3) Questions with Solutions
Dilshad, Ajit and Deepna were partners in a firm sharing profits and losses in the ratio of 2:2:1. Their fixed capitals were: Rs 5,00,000, Rs 4,00,000 and Rs 1,00,000 respectively. After closing the accounts for the year ended 31st March 2025, it was discovered that interest on partners' capitals was provided @ 6% p.a. instead of 7% p.a. The adjustment entry to rectify the above error will be:
Kabir, Divya and Mansha were partners in a firm sharing profits and losses in the ratio of 5:4:1. With effect from 1st April 2025, they decided to share the future profits and losses in the ratio of 4:1:5. For this purpose, the goodwill of the firm was valued at Rs 3,00,000. The necessary journal entry for the treatment of goodwill because of change in profit sharing ratio will be:
In case of dissolution of a partnership firm, the losses, including deficiencies of capital, shall be paid first:
Hira Ltd. invited applications for issuing 2,00,000 equity shares of Rs 10 each at a premium of 10%. The whole amount was payable with application. Applications were received for 4,00,000 equity shares. The company decided to allot the shares on pro-rata basis to all the applicants. The amount refunded by the company was:
Debentures which do not have a specific charge on the assets of the company are known as:
As per Companies Act 2013, the balance in Securities Premium Account cannot be utilized for:
When the company issues shares at a premium, the amount of premium can be received by the company along with:
Xiom Ltd. issued 30,000, 12% debentures of Rs 100 each at a certain rate of discount, redeemable at 10% premium after three years. Balance in Securities Premium Account before issuing these debentures was Rs 5,00,000 and after writing off loss on issue of debentures, the balance in Securities Premium Account was Rs 50,000. These debentures were issued at a discount of:
Zubin, Nidhi and Reena were partners in a firm sharing profits and losses in the ratio of 2:1:2. The firm closes its books on 31st March every year. On 31st July, 2025 Reena died. Her share in the profits of the firm from the last balance sheet till the date of death was to be calculated on the basis of previous year's profit. The profit of the firm for the year ended 31st March, 2025 was Rs 6,00,000. Reena's share of profit till the date of her death was:
On the dissolution of the partnership firm of Puneet and Binny, an unrecorded asset of Rs 56,000 was given to an unrecorded creditor of Rs 70,000 in settlement of his claim of Rs 50,000 and the balance was paid to him in cash. Realisation Account will be ____ by ____.
Nandita and Prabha were partners in a firm manufacturing furniture. They were sharing profits and losses in the ratio of 8:7. During the year ended 31st March 2025, Nandita withdrew Rs 80,000 in cash and Rs 20,000 as furniture for her personal use. The partnership deed provided for charging interest on partner's drawings @ 6% p.a. The amount of interest on Nandita's drawings for the year ended 31st March 2025 was:
Shiv, Riya and Rohit were partners in a firm. On 1st October, 2024 Rohit had given a loan Rs 2,00,000 to the firm, at an interest rate of 10% p.a. as per the partnership agreement. The accountant of the firm is emphasizing that interest on loan will be paid at 6% p.a. The amount of interest on loan paid to Rohit for the year ended 31st March, 2025 will be:
Sameer, Rajat and Aastha were partners in a firm sharing profits and losses in the ratio of 2:3:1. Rajat retired from the firm on 31st March, 2025. On the date of Rajat's retirement, the Balance Sheet of the firm showed a balance of Rs 2,40,000 in Workmen Compensation Fund. The claim on account of workmen compensation amounted to Rs 1,80,000. The amount credited to Rajat's capital account on the treatment of Workmen Compensation Fund would be:
Meera, Varun and Tarun were partners in a firm sharing profits and losses in the ratio of 5:2:3. Meera retired and Varun and Tarun decided to share future profits and losses equally. On Meera's retirement, the goodwill of the firm was valued at Rs 5,00,000. The amount that was debited to Varun's and Tarun's capital account for the treatment of goodwill was:
Amita, Shivani and Tarush were partners in a firm sharing profits and losses in the ratio of 4:3:2. Tarush's share of profit at the end of the year amounted to Rs 1,80,000. Amita's share of profit at the end of the year was:
On 1st April, 2024 Vinar Ltd. issued Rs 5,00,000, 9% debentures of Rs 100 each at 10% discount. Interest is payable half yearly on 30th September and 31st March every year. The amount of interest written off on 31st March, 2025 was:
Bishan Ltd. acquired assets worth Rs 12,60,000 and took over liabilities of Rs 2,40,000 of Nimi Ltd. for a purchase consideration of Rs 9,40,000. Bishan Ltd. issued 12% debentures of Rs 100 each at a discount of 6% in favour of Nimi Ltd. for payment of purchase consideration. The number of debentures issued were:
Navya, Kartik and Samir were partners in a firm sharing profits and losses in the ratio of 4:3:1. Samir was given a guarantee that his share of profit in any year will not be less than Rs 57,000. Any deficiency on this account was to be borne by Navya and Kartik equally. The firm earned a profit of Rs 4,00,000 during the year ended 31st March, 2025. The amount of deficiency borne by Kartik was:
Devki and Neena were partners in a firm sharing profits and losses in the ratio of 4:3. Amar was admitted as a new partner for 1/5th share in the profits of the firm. Amar acquired 1/3rd of his share from Devki. How much share did Amar acquire from Neena?
Assertion (A): The retiring partner or the executors of the deceased partner are entitled to their share of goodwill at the time of retirement or death.
Reason (R): Goodwill is earned by the firm with the efforts of all the existing partners (including the retiring or deceased partner).
Choose the correct option from the following:
Vani, Vanya and Ajay were partners in a firm sharing profits and losses in the ratio of 5:3:2. Vani retired and her share was taken over by Vanya and Ajay in the ratio of 2:3. The new profit sharing ratio between Vanya and Ajay after Vani's retirement was:
Nandini and Reva were partners in a firm sharing profits and losses in the ratio of 5:3. Nandini withdrew the following amounts from the firm for her personal use during the year ending 31st March 2025:
(i) For the first five months, she withdrew Rs 2,000 at the end of each month.
(ii) For the remaining months, she withdrew Rs 3,000 at the beginning of each month.
Interest on drawings was to be charged @ 6% p.a. The books of the firm are closed on 31st March every year. Calculate interest on Nandini's drawings for the year ending 31st March, 2025.
Sarita and Veena were partners in a firm sharing profits and losses in the ratio of 3:2. The balance in their capital and current accounts as on 1st April, 2024 were as under:
| Particulars | Sarita (Rs) | Veena (Rs) |
| Capital Accounts | 4,00,000 | 3,00,000 |
| Current Accounts | 80,000 (Cr.) | 60,000 (Dr.) |
The partnership deed provided that Sarita was to be paid salary @ Rs 2,000 per month whereas Veena was to get commission of Rs 30,000 for the year. Interest on capital was to be allowed @ 8% p.a. The drawings of Sarita and Veena for the year ended 31st March, 2025 were Rs 20,000 and Rs 15,000 respectively. After preparing Profit and Loss Appropriation Account for the year ended 31st March, 2025, Rs 36,000 and Rs 24,000 were credited respectively to the current accounts of Sarita and Veena as their share of divisible profit. Prepare Current Accounts of Sarita and Veena.
Manya, Vivek and Vishal were partners in a firm sharing profits and losses in the ratio of 5:3:2. With effect from 1st April, 2025, they decided to share future profits and losses in the ratio of 3:5:2. Their Balance Sheet as at 31st March, 2025 showed the following balances:
(i) General Reserve Rs 2,40,000.
(ii) Debit balance of Rs 60,000 in Profit and Loss Account.
Goodwill of the firm was valued at Rs 6,00,000 and revaluation of assets and re-assessment of liabilities resulted in a gain of Rs 2,00,000. Partners decided to distribute the amount of General Reserve and Profit and Loss Account. They also decided that revalued values of assets and liabilities were not to be recorded in the books. Pass necessary journal entries to give effect to the above.
Miraya Ltd. took over assets of Rs 70,00,000 and liabilities of Rs 12,00,000 of Vishal Ltd. for a purchase consideration of Rs 64,00,000. The payment of purchase consideration was made by issue of 50,000, 11% debentures of Rs 100 each at a premium of 20% to Vishal Ltd. and the balance through a cheque. Pass necessary journal entries for the above transactions in the books of Miraya Ltd.
Delta Ltd. invited applications for issuing 30,000, 9% debentures of Rs 100 each at a premium of Rs 30 per debenture. The full amount was payable on application. Applications were received for 40,000 debentures. Applications for 2,000 debentures were rejected and the application money was refunded. Debentures were allotted to the remaining applicants on pro rata basis. Pass the necessary journal entries for the above transactions in the books of Delta Ltd.
Average profits of a firm during the last few years were Rs 3,20,000. The normal rate of return in a similar business is 10%. If the goodwill of the firm is Rs 8,00,000 at four years purchase of super profit, find the capital employed by the firm.
Pass necessary journal entries in the books of Mitali Ltd. for issue of debentures in the following cases:
(i) Issued 7,000, 9% debentures of Rs 100 each at a discount of 10%, redeemable at a premium of 5% after 5 years.
(ii) Issued 8,000, 11% debentures of Rs 100 each at a premium of 10%, redeemable at a premium of 5% after 5 years.
Pass the necessary journal entries for the following transactions on the dissolution of the partnership firm of Arjun and Kunal after various assets (other than cash) and external liabilities have been transferred to Realisation Account:
(i) Arjun was appointed to look after dissolution work for which he was allowed a remuneration of Rs 10,000. He agreed to bear the dissolution expenses. Actual dissolution expenses paid by Arjun were Rs 9,500.
(ii) A creditor to whom the firm owed Rs 9,000, accepted stock of Rs 3,000 at a discount of 10% and the balance was paid to him in cash.
(iii) Kunal had given a loan of Rs 20,000 to the firm. He was paid Rs 19,000 in full settlement of his loan.
(iv) A piece of furniture, which was not recorded in the books was taken over by Arjun at Rs 27,000 whereas its expected value was Rs 30,000.
Comprehension:
Radhey Ltd. has an authorized capital of Rs 50,00,000 divided into equity shares of Rs 100 each. The company invited applications for issuing 45,000 shares. Applications for 44,000 shares were received and allotment in full was
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made to all the applicants. All calls were made and duly received except on 500 shares on which the final call of Rs 20 per share was not received. The company forfeited 400 shares on which the final call was not received.The amount of 'share capital' presented in the Balance Sheet of Radhey Ltd. will be:
In the 'Notes to Accounts', the amount disclosed under 'Share Forfeiture Account' will be:
The amount of 'Calls in Arrears' disclosed in 'Notes to Accounts' will be:
Mohit, Anisha and Shivam were partners in a firm sharing profits and losses in the ratio of 4:3:2. On 30th September, 2023 Mohit died. After all necessary adjustments, Mohit's capital account showed a credit balance of Rs 4,50,000. On 1st October 2023, Mohit's executors were paid Rs 50,000 in cash and the balance in two equal yearly instalments starting from 30th September, 2024 with interest @ 6% p.a. on the unpaid amount. The firm closes its books on 31st March every year.
Prepare Mohit's Executors account till the Amount is finally paid.
Pass necessary journal entries for forfeiture and reissue of forfeited shares in the following cases:
(i) Sanya Ltd. forfeited 2,000 shares of Rs 10 each, issued at a premium of Rs 2 per share, Rs 8 called up, for non-payment of allotment money of Rs 5 per share (including premium). Out of these, 700 shares were reissued to Dev as Rs 8 paid up for Rs 10 per share.
(ii) Moksh Ltd. forfeited 5,000 shares of Rs 10 each on which first call of Rs 3 per share was not received. The second and final call of Rs 2 per share has not yet been called. Out of these, 2,000 shares were issued to Geeta as Rs 8 paid up for Rs 7 per share.
Raga Ltd. invited applications for issuing 85,000 equity shares of Rs 100 each at par. The amount was payable as follows:
On Application - Rs 30 per share
On Allotment - Rs 40 per share
On First and final call - balance
Applications were received for 80,000 shares and allotment was made to all the applicants in full. When the allotment was due, one shareholder failed to pay the amount on 300 shares held by him and another shareholder holding 500 shares paid the entire amount on his shares. The first and final call was duly received, along with arrears of allotment.
Pass necessary journal entries for the above transactions in the books of Raga Ltd. Open 'Calls in Arrears Account' and 'Calls in Advance Account' wherever necessary.
Mitali and Karan were partners in a firm sharing profits and losses in the ratio of 3:2. Their Balance Sheet as on 31st March, 2025 was as follows:
| Liabilities | Amount (Rs) | Assets | Amount (Rs) |
| Capitals: Mitali 8,00,000 Karan 5,00,000 | 13,00,000 | Machinery | 8,00,000 |
| Investment Fluctuation fund | 20,000 | Furniture | 5,00,000 |
| Bank loan | 1,30,000 | Investments | 1,50,000 |
| Creditors | 2,00,000 | Debtors 1,10,000 less Provision 10,000 | 1,00,000 |
| Stock | 80,000 | ||
| Cash | 20,000 | ||
| Total | 16,50,000 | Total | 16,50,000 |
On 1st April, 2025, Nitin was admitted for 1/4 share in the profits of the firm on the following terms:
(i) Nitin will bring Rs 3,00,000 as Capital and Rs 1,50,000 for his share of goodwill premium in cash.
(ii) Stock was sold at Rs 70,000.
(iii) Machinery was found to be overvalued by Rs 8,500.
(iv) All debtors were found to be good, hence provision for doubtful debts was not required.
(v) A liability of Rs 3,500 included in creditors is not likely to arise.
(vi) The market value of the investments was Rs 1,40,000.
(vii) The new profit sharing ratio between Mitali, Karan and Nitin will be 2:2:1.
Pass necessary journal entries for the above transactions on Nitin's admission.
Raghav, Meeta and Pranav were partners in a firm sharing profits and losses in the ratio of 5:3:2. Their balance sheet as at 31st March, 2025 was as follows:
| Liabilities | Amount (Rs) | Assets | Amount (Rs) |
| Capitals: Raghav 2,50,000 Meeta 2,00,000 Pranav 1,50,000 | 6,00,000 | Plant and Machinery | 4,30,000 |
| General Reserve | 40,000 | Furniture | 1,60,000 |
| Bills payable | 30,000 | Stock | 90,000 |
| Creditors | 1,20,000 | Debtors 80,000 less Provision 2,000 | 78,000 |
| Cash | 32,000 | ||
| Total | 7,90,000 | Total | 7,90,000 |
On 1st April, 2025, Pranav retired from the firm on the following terms:
(i) Plant and Machinery was found to be undervalued by Rs 20,000.
(ii) Furniture was revalued at Rs 1,62,000.
(iii) The provision for doubtful debts on debtors was to be created @ 5%.
(iv) Goodwill of the firm was valued at Rs 4,00,000 and the same was to be adjusted through the capital accounts of the remaining partners.
(v) Pranav was paid in cash brought in by Raghav and Meeta in such a way so as to make the capital proportionate to the new profit sharing ratio.
Prepare Revaluation Account and Partners' Capital Accounts.
In common size income statement, each item is expressed as a percentage of ____.
The statements which are useful both in intra firm comparison over different years and also in inter firm comparison for the same year or for several years are known as:
Statement-I: Cash equivalents mean short term highly liquid investments that are readily convertible into known amounts of cash and which are subject to an insignificant risk of changes in value.
Statement-II: An investment normally qualifies as a cash equivalent only when it has a short maturity period of three months or more from the date of acquisition.
Choose the correct alternative from the following:
The quick ratio of Theta Ltd. is 0.8:1. Which of the following transactions will result in decrease in this ratio?
Which of the following transactions is NOT a cash flow from investing activity?
Which of the following transactions will not result in flow of cash?
Classify the following items under major heads and sub-heads (if any) in the Balance Sheet of the company as per Schedule III, Part I of the Companies Act, 2013:
(i) Loose tools
(ii) Design
(iii) Capital work in progress
From the following information of CK Ltd, prepare a Common Size Statement of Profit and Loss for the year ended 31st March, 2024 and 31st March, 2025:
| Particulars | Note No. | 2024-25 (Rs) | 2023-24 (Rs) |
|---|---|---|---|
| Revenue from operations | 80,00,000 | 40,00,000 | |
| Cost of materials consumed | 24,00,000 | 16,00,000 | |
| Employee benefit expenses | 4,00,000 | 2,00,000 | |
| Income tax @ 20% |
The following information has been obtained from the books of Naval Ltd. Trade receivables turnover ratio of the company is 4 times, cost of revenue from operations Rs 6,40,000; gross profit ratio 20%, closing trade receivables were Rs 20,000 more than that in the beginning, cash revenue from operations being 33-1/3% of credit revenue from operations. Calculate its opening and closing trade receivables.
From the following Balance Sheet of Rama Ltd. as at 31st March, 2025, calculate cash flows from Investing Activities and cash flows from Financing Activities.
| Particulars | Note No. | 31-3-2025 (Rs) | 31-3-2024 (Rs) |
|---|---|---|---|
| I. Equity and Liabilities: | |||
| 1. Shareholders funds (a) Share Capital | 21,00,000 | 10,00,000 | |
| (b) Reserves and Surplus | 1 | 1,30,000 | 2,40,000 |
| 2. Non-current liabilities Long-term borrowings | 2 | 2,50,000 | 3,20,000 |
| 3. Current Liabilities (a) Short-term borrowings | 3 | 90,000 | 70,000 |
| (b) Trade Payables | 20,000 | 60,000 | |
| Total | 25,90,000 | 16,90,000 | |
| II. Assets: | |||
| 1. Non-current Assets (a) Property, Plant and Equipment and Intangible Assets (i) Property Plant and Equipment | 4 | 14,00,000 | 9,00,000 |
| (ii) Intangible Assets | 5 | 4,00,000 | 2,40,000 |
| (b) Non-current Investments | 5,44,000 | 3,40,000 | |
| 2. Current Assets (a) Inventories | 1,45,000 | 54,000 | |
| (b) Trade Receivables | 62,000 | 1,26,000 | |
| (c) Cash and Cash Equivalents | 39,000 | 30,000 | |
| Total | 25,90,000 | 16,90,000 |
Notes to Accounts:
| Note No. | Particulars | 31-03-2025 (Rs) | 31-03-2024 (Rs) |
|---|---|---|---|
| 1. | Reserves and Surplus i.e. Balance in Statement of Profit and Loss | 1,30,000 | 2,40,000 |
| 2. | Long-term borrowings 10% Debentures | 2,50,000 | 3,20,000 |
| 3. | Short-term borrowings Bank overdraft | 90,000 | 70,000 |
| 4. | Property, Plant and Equipment Plant and Machinery Accumulated Depreciation | 15,20,000 (1,20,000) 14,00,000 | 9,80,000 (80,000) 9,00,000 |
| 5. | Intangible Assets: Goodwill | 4,00,000 | 2,40,000 |
Additional Information:
(i) Depreciation amounting to Rs 80,000 was charged on plant and machinery during the year.
(ii) During the year a new machine costing Rs 8,00,000 was purchased and an old machine was sold at a profit of Rs 8,000.
(iii) Interest paid on debentures amounted to Rs 32,000.
Which chart element details the data values and categories below the chart:
Which of the following is not a part of equity and liability group of accounts?
Which type of software package is suitable for an organization where the volume of accounting transaction is very low and adaptability is very high?
What is used to build single formula with multiple results in Excel?
Depreciation is generated from which of the following accounting sub-system:
What is meant by cell reference, absolute cell reference and relative cell reference?
Explain any three features of Computerized Accounting System.
What is Text Manipulation Function? Explain its syntax.
Write the steps to change format of selected chart element.
Which error occur when a column is not wide enough or a negative date or time is used? State the various steps to correct this error.
CBSE Class 12 Accountancy Question Paper Pattern and Marking Scheme
The CBSE Class 12 Accountancy 2026 theory paper is of 80 marks and has 34 questions, all compulsory: Part A (60 marks) is common and Part B (20 marks) has two options, Option I (Analysis of Financial Statements) and Option II (Computerised Accounting), of which a candidate attempts only one. Internal choice (OR) is given in several questions. The tables below give the paper pattern and the marking rules from the official CBSE question paper and marking scheme.
CBSE Class 12 Accountancy Question Paper Pattern 2026
| Part | Questions | Question Type | Marks per Question | Marks |
|---|---|---|---|---|
| Part A | Q1 - Q16 | Multiple choice questions (MCQs) | 1 | 16 |
| Part A | Q17 - Q20 | Short answer questions | 3 | 12 |
| Part A | Q21 - Q22 | Short answer questions | 4 | 8 |
| Part A | Q23 | Case-based questions (6 MCQs of 1 mark each) | 1 | 6 |
| Part A | Q24 - Q26 | Long answer questions | 6 | 18 |
| Part B | Q27 - Q30 | Multiple choice questions (MCQs) | 1 | 4 |
| Part B | Q31 - Q32 | Short answer questions | 3 | 6 |
| Part B | Q33 | Short answer questions | 4 | 4 |
| Part B | Q34 | Long answer questions | 6 | 6 |
| Total | 34 questions | 80 |
CBSE Class 12 Accountancy Marking Scheme 2026
| Marking point | How it is applied |
|---|---|
| Value-point marking | Marks are awarded against the value points (steps) given in the official marking scheme; the marks of an answer are split across its parts and value points. |
| Own expression | The marking scheme carries suggested value points only. A correct answer in the student's own words is awarded due marks. |
| Competency-based questions | If a competency-based answer is not from the marking scheme but shows the correct competency, due marks are awarded. |
| Errors | An error is penalised only once; no marks are deducted for its cumulative effect. |
| Incorrect answer | A totally incorrect answer is awarded zero (0) marks. |
| Choice (OR) questions | If both options of a question with internal choice are attempted, marks are awarded for both and the higher score is taken; if only one option is attempted, the other is marked NA (not attempted). |
| Part B options | If a candidate attempts both Option I and Option II of Part B, the higher of the two scores is taken and the other response is disregarded. |
| Scale of marks | The full scale of 0 to 80 marks is used and full marks are awarded whenever the answer deserves them. |
CBSE Class 12 Accountancy Unit-Wise Weightage
| Part | Units / Chapters | Marks |
|---|---|---|
| Part A – Accounting for Partnership Firms and Companies (60 Marks) | Fundamentals of Partnership Firms | 6 |
| Reconstitution of Partnership (Admission, Retirement, Death, Change in Ratio) | 18 | |
| Dissolution of Partnership Firm | 6 | |
| Accounting for Share Capital | 8 | |
| Accounting for Debentures | 12 | |
| Total Part A | — | 60 |
| Part B – Financial Statement Analysis OR Computerised Accounting (20 Marks) | Analysis of Financial Statements (including Cash Flow Statement, Ratio Analysis) OR Computerised Accounting | 20 |
| Total Part B | — | 20 |
| Part C – Project Work | Project File (12) + Viva Voce (8) | 20 |
| Grand Total | — | 100 |
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