CBSE Class 12 2025 Accountancy 67-1-3 Question Paper Set-3: Download Solutions with Answer Key

Money received in advance from the shareholders before it is actually called up by the directors is :

• (A) credited to calls in advance account.
• (B) debited to calls in advance account.
• (C) credited to calls account.
• (D) debited to calls in arrears account.

(a) Debentures in respect of which all details including names, addresses and particulars of holding of the debenture holders are entered in a register kept by the company are called :

• (A) Bearer debentures
  (B) Redeemable debentures
• (C) Registered debentures
  (D) Secured debentures

That portion of the called up capital which has been actually received from the shareholders is known as :

• (A) Paid up capital
  (B) Called up capital
• (C) Uncalled capital
  (D) Reserve capital

(a) Misha, Sarita and Isha were partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. With effect from 1^st April 2024, they decided that they will share profits and losses equally. The gain or sacrifice by the partners due to change in profit sharing ratio will be :

• (A) Misha’s sacrifice 1/6, Isha’s gain 1/6
• (B) Misha’s gain 1/6, Isha’s sacrifice 1/6
• (C) Misha’s sacrifice 1/6, Sarita’s gain 1/3, Isha’s sacrifice 1/6
• (D) Misha’s sacrifice 1/3, Isha’s gain 1/3

Sia, Tisha and Aryan were partners sharing profits and losses in the ratio of 4 : 7 : 1. The firm closes its books on 31^st March every year. Tisha died on 1^st July, 2024. Sia and Aryan will acquire Tisha’s share in which of the following ratio ?

• (A) 1 : 1
• (B) 4 : 1
• (C) 4 : 7
• (D) 7 : 1

Anuj and Kartik were partners in a firm sharing profits and losses in the ratio of 5 : 4. Anuj withdrew ₹ 20,000 in the beginning of every alternate month starting from 1^st April, 2023 during the year ended 31^st March, 2024. Interest on Anuj’s drawings @ 6% p.a. for the year ended 31^st March, 2024 will be :

• (A) ₹ 8,400
• (B) ₹ 1,200
• (C) ₹ 4,200
• (D) ₹ 3,600

(a) Vishesh, Manik and Amit were partners in a firm sharing profits and losses in the ratio of 5 : 4 : 1. Amit retired on 31^st March, 2024. Vishesh and Manik acquired Amit’s share in the ratio of 2 : 3. The new profit sharing ratio between Vishesh and Manik after Amit’s retirement will be :

• (A) 5 : 4
• (B) 2 : 3
• (C) 1 : 1
• (D) 27 : 23

Varsha, Aryan and Nimit were partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. Varsha retired and surrendered 1/3^rd of her share in favour of Aryan and the remaining share in favour of Nimit. The new profit sharing ratio between Aryan and Nimit will be :

• (A) 2 : 1
• (B) 8 : 7
• (C) 1 : 2
• (D) 1 : 1

When the partners’ capitals are fixed, the drawings made by a partner are recorded on the :

• (A) Debit side of Partner’s Capital Account.
• (B) Credit side of Partner’s Capital Account.
• (C) Debit side of Partner’s Current Account.
• (D) Credit side of Partner’s Current Account.

4,000 shares of ₹ 10 each were forfeited for non-payment of second and final call money of ₹ 2 per share. The minimum amount that the company must collect at the time of reissue of these shares will be :

• (A) ₹ 8,000
• (B) ₹ 32,000
• (C) ₹ 40,000
• (D) ₹ 48,000

On 1^st April 2023, Veebee Ltd. issued 20,000, 13% debentures of ₹ 100 each at a discount of 10% redeemable at a premium of 5% after 4 years. Total amount of interest on debentures for the year ending 31^st March, 2024 will be :

• (A) ₹ 2,00,000
• (B) ₹ 2,60,000
• (C) ₹ 1,00,000
• (D) ₹ 3,00,000

When realisation expenses are paid by a partner on behalf of the firm, then :

• (A) Realisation A/c is debited
• (B) Cash A/c is credited
• (C) Partner’s Capital A/c is debited
• (D) Partner’s Capital A/c is credited

Balance of Debenture Redemption Reserve is transferred to which account after the redemption of all debentures?

• (A) Profit and Loss Account
• (B) Capital Reserve Account
• (C) General Reserve Account
• (D) Statement of Profit and Loss

‘A’, ‘B’ and ‘C’ were partners in a firm. On 1^st April, 2023, their capitals stood at ₹ 50,000, ₹ 25,000 and ₹ 25,000 respectively. As per the provisions of the partnership deed :


C was to be given a commission of ₹ 5,000 p.a.
Interest on capital was to be allowed @ 10% p.a.
A was to be given a salary of ₹ 1,000 p.m.
The net profit of the firm for the year ended 31^st March, 2024 before providing for any of the above was ₹ 75,000.


The net profit to be distributed among partners will be :

• (A) ₹ 35,000
  (B) ₹ 42,500
• (C) ₹ 22,500
  (D) ₹ 62,500

Sara and Tara were partners in a firm. Their capitals as on 1^st April, 2023 were ₹ 6,00,000 and ₹ 4,00,000 respectively. On 1^st October, 2023, Tara withdrew ₹ 1,00,000 for personal use. According to the partnership deed, interest on capital was allowed @ 8% p.a. The amount of interest allowed on Tara’s capital for the year ended 31^st March, 2024 was :

• (A) ₹ 28,000
  (B) ₹ 30,000
• (C) ₹ 48,000
• (D) ₹ 32,000

Assertion (A): Each partner carrying on the business of the firm is the principal as well as the agent for all the other partners of the firm.

Reason (R): There exists a relationship of mutual agency between all the partners.

Choose the correct option from the following :

• (A) Both Assertion (A) and Reason (R) are correct and Reason (R) is the correct explanation of Assertion (A).
• (B) Both Assertion (A) and Reason (R) are correct, but Reason (R) is not the correct explanation of Assertion (A).
• (C) Assertion (A) is correct, but Reason (R) is incorrect.
• (D) Assertion (A) is incorrect, but Reason (R) is correct.

(a) VL Ltd. offered for public subscription 90,000 equity shares of ₹ 10 each at a premium of 10%. The entire amount was payable on application. Applications were received for 1,00,000 shares and allotment was made to all the applicants on pro-rata basis. The amount received on application was___.

• (A) ₹ 10,00,000
  (B) ₹ 9,00,000
• (C) ₹ 9,90,000
  (D) ₹ 11,00,000

(b) VX Ltd. issued 30,000, 8% debentures of ₹ 100 each at a discount of 10% redeemable at a certain rate of premium. On issue of these debentures, ‘Loss on issue of debentures account’ was debited with ₹ 4,50,000. The amount of premium on redemption of debentures was ___

• (A) ₹ 3,00,000
  (B) ₹ 1,50,000
• (C) ₹ 30,000
  (D) ₹ 4,50,000

(a) Kartik, Inder and Lalit were partners in a firm sharing profits and losses in the ratio of 4 : 3 : 2. With effect from 1^st April, 2024, they decided to share profits and losses in the ratio of 2 : 3 : 4. For this purpose, the goodwill of the firm was valued at ₹ 1,80,000. The necessary journal entry to show the effect of the above will be :

• (A) Lalit’s Capital A/c Dr. 40,000
  To Kartik’s Capital A/c 40,000
• (B) Kartik’s Capital A/c Dr. 40,000
  To Lalit’s Capital A/c 40,000
• (C) Lalit’s Capital A/c Dr. 1,80,000
  To Kartik’s Capital A/c 1,80,000
• (D) Kartik’s Capital A/c Dr. 1,80,000
  To Lalit’s Capital A/c 1,80,000

(b) Nidhi, Pranav and Ishu were partners in a firm sharing profits and losses in the ratio of 5 : 4 : 1. With effect from 1^st April, 2024, they decided to share profits and losses in the ratio of 4 : 1 : 5. On that date, there was a debit balance of ₹ 4,00,000 in the Profit and Loss Account. The necessary journal entry to show the effect of the above will be :

• (A) Ishu’s Capital A/c Dr. 1,60,000
  To Nidhi’s Capital A/c 40,000
  To Pranav’s Capital A/c 1,20,000
• (B) Profit & Loss A/c Dr. 4,00,000
  To Nidhi’s Capital A/c 2,00,000
  To Pranav’s Capital A/c 1,60,000
  To Ishu’s Capital A/c 40,000
• (C) Nidhi’s Capital A/c Dr. 2,00,000
  Pranav’s Capital A/c Dr. 1,60,000
  Ishu’s Capital A/c Dr. 40,000
  To Profit & Loss A/c 4,00,000
• (D) Nidhi’s Capital A/c Dr. 40,000
  Pranav’s Capital A/c Dr. 1,20,000
  To Ishu’s Capital A/c 1,60,000

Moksh and Pran were partners in a firm sharing profits and losses in the ratio of 1 : 2. Their capitals were ₹ 5,00,000 and ₹ 3,00,000 respectively. They admitted Tushar as a new partner on 1^st April, 2024 for 1/4^th share in future profits. Tushar brought ₹ 4,00,000 as his share of capital. The goodwill of the firm on Tushar’s admission will be :

• (A) ₹ 16,00,000
  (B) ₹ 4,00,000
• (C) ₹ 8,00,000
  (D) ₹ 12,00,000

Piyush, Aadi and Sudha were partners in a firm sharing profits and losses in the ratio of 4 : 3 : 3. Aadi died on 1^st October, 2024. As per the partnership deed, Aadi’s share of profit or loss till the date of death was to be calculated on the basis of sales. Sales for the year ended 31^st March, 2024 amounted to ₹ 6,00,000 and that from 1^st April to 30^th September, 2024 amounted to ₹ 2,00,000. The profit for the year ending 31^st March, 2024 was calculated as ₹ 1,50,000. The books of accounts are closed on 31^st March every year. Calculate Aadi’s share of profits in the firm and pass necessary journal entries for the same. Show your working clearly.

(a) The firm of Amish, Nitish and Misha, who have been sharing profits in the ratio of 2 : 2 : 1, have existed for some years. Misha wanted that she should get equal share in the profits with Amish and Nitish and she further wished that the change in the profit sharing ratio should come into effect retrospectively for the last three years. Amish and Nitish had agreement for this.\newline
The profits for the last three years were :

2021--22 ₹ 1,15,000

2022--23 ₹ 1,24,000

2023--24 ₹ 2,11,000

Show adjustment of profits by means of a single adjustment journal entry. Show your working clearly.

(b) Vidhi, Manas and Ansh were partners sharing profits and losses in the ratio of 2 : 3 : 5. Ansh was given a guarantee that his share of profits in any given year would not be less than ₹ 1,20,000. Deficiency, if any, would be borne by Vidhi and Manas equally. Profits for the year ended 31^st March, 2024 amounted to ₹ 2,00,000. Pass necessary journal entries in the books of the firm for division of profits.

(a) Delight Ltd. purchased assets worth ₹ 4,00,000 and took over liabilities of ₹ 70,000 of Marvel Ltd. for a purchase consideration of ₹ 3,60,000. Delight Ltd. paid the purchase consideration by issuing 11% debentures of ₹ 100 each at a premium of 20%. Pass necessary journal entries in the books of Delight Ltd.

(b) Prime Ltd. took over assets of ₹ 6,00,000 and liabilities of ₹ 1,00,000 of Rabi Ltd. for a purchase consideration of ₹ 3,60,000. Prime Ltd. issued 10% debentures of ₹ 100 each at a discount of 10% in full satisfaction of purchase consideration. Pass necessary journal entries in the books of Prime Ltd.

The capital of the firm of Seema and Avi is ₹ 12,00,000 and the market rate of interest is 10%. Salary of each partner is ₹ 10,000 per annum. The profits for the last four years were ₹ 3,00,000, ₹ 4,00,000, ₹ 5,00,000 and ₹ 4,00,000 respectively. Goodwill of the firm is to be valued on the basis of three years purchase of last four years average super profits. Calculate the goodwill of the firm.

Pass necessary journal entries for issue of debentures for the following transactions:
(i) Kiero Ltd. issued 80,000, 9% debentures of ₹ 100 each at par, redeemable at a premium of 10%.
(ii) Naro Ltd. issued 50,000, 10% debentures of ₹ 100 each at a premium of 5%, redeemable at a premium of 10%.

Raja, Bharat and Vedika were partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. Their Balance Sheet as on 31^st March, 2024 was as follows:

Balance Sheet of Raja, Bharat and Vedika as on 31^st March, 2024

Liabilities & ₹ & Assets & ₹

Creditors & 80,000 & Bank & 15,000

General Reserve & 50,000 & Stock & 70,000

Capitals: & & Debtors & 85,000

Raja – 1,10,000 & & Furniture & 1,20,000

Bharat – 1,00,000 & & Machinery & 1,40,000

Vedika – 90,000 & 3,00,000 & &

Total & 4,30,000 & Total & 4,30,000

Vedika died on 31^st July, 2024. Her legal representatives are entitled to the following:
(i) Balance in her capital account = ₹ 90,000

(ii) Interest on capital @ 8% p.a. = \[ \frac8}100} \times 90,000 \times \frac4}12} = ₹ 2,400 \]

(iii) Share in profit (upto date of death): ₹ 3,000

(iv) Share of goodwill = 2 years’ purchase of average profits (₹ 40,000) × \[ \frac1}5} = ₹ 16,000 \]

(v) Less: Drawings till death = ₹ 12,000


Total due to Vedika’s Executors:
\[ 90,000 + 2,400 + 3,000 + 16,000 - 12,000 = ₹ 99,400 \]

MK Ltd. was registered with an authorised capital of ₹ 9,00,000 divided into 90,000 equity shares of ₹ 10 each. The company offered to the public for subscription 80,000 equity shares. Applications were received for 78,000 equity shares and shares were allotted to all the applicants. All money due was received with the exception of first and final call money of ₹ 3 per share on 1,000 shares allotted to Manisha. Her shares were forfeited.

• (i) The amount of ‘Calls in Arrears’ disclosed in ‘Notes to Accounts’ will be:
  (1) Nil\quad (2) ₹ 2,34,000\quad (3) ₹ 7,000\quad (4) ₹ 3,000
  (ii) The number of shares of MK Ltd. after forfeiture will be:
  (1) 78,000\quad (2) 89,000\quad (3) 79,000\quad (4) 77,000
  (iii) In the ‘Notes to Accounts’, the amount disclosed under ‘Share Forfeiture Account’ will be:
  (1) Nil\quad (2) ₹ 7,000\quad (3) ₹ 3,000\quad (4) ₹ 10,000
  (iv) In the ‘Notes to Accounts’, the amount disclosed under ‘Issued Capital’ will be:
  (1) ₹ 9,00,000\quad (2) ₹ 7,80,000\quad (3) ₹ 8,00,000\quad (4) ₹ 7,70,000
  (v) Balance in ‘Share Forfeiture Account’ will be shown in ‘Notes to Accounts’ in the Balance Sheet of MK Ltd. under:
  (1) Will not be shown in ‘Notes to Accounts’\quad (2) Issued Capital\quad (3) Authorised Capital\quad (4) Subscribed Capital
  (vi) The amount of ‘Share Capital’ disclosed in the Balance Sheet of MK Ltd. will be:
  (1) ₹ 7,80,000\quad (2) ₹ 7,73,000\quad (3) ₹ 7,77,000\quad (4) ₹ 7,87,000

Pass the necessary journal entries for the following transactions on the dissolution of the partnership firm of Sami and Usha after various assets (other than cash) and external liabilities have been transferred to Realisation Account:

(i) Creditors of ₹ 18,000 took over all the investments at ₹ 11,000. Remaining amount was paid to them through a cheque.

(ii) A debtor whose debt of ₹ 23,000 was written off as bad paid ₹ 15,000 in full settlement.

(iii) Usha had given a loan of ₹ 16,000 to the firm. She accepted ₹ 14,000 in full settlement of her loan.

(iv) Stock of the book value of ₹ 20,000 was taken over by Sami and Usha in their profit sharing ratio.

(v) The firm paid realisation expenses amounting to ₹ 9,000 on behalf of Sami.

(vi) The firm had furniture of ₹ 40,000. Usha took over 50% of the furniture at a discount of 10% and the remaining furniture was sold at a profit of 20% on book value.

Altima Ltd. invited applications for issuing 2,00,000 equity shares of ₹ 10 each at a premium of ₹ 4 per share. The amount was payable as follows:


On application and allotment – ₹ 7 per share (including premium ₹ 1)
On first and final call – Balance


Applications were received for 2,40,000 shares. Applications for 30,000 shares were rejected and pro-rata allotment was made to the remaining applicants. Excess money received on application and allotment was returned. Manvi, who was allotted 4,000 shares failed to pay the first and final call money. Her shares were forfeited. All the forfeited shares were reissued at ₹ 4 per share fully paid up.

Pass necessary journal entries for forfeiture and reissue of forfeited shares in the following cases:

(i) Macil Ltd. forfeited 3,000 shares of ₹ 100 each issued at 20 percent premium for the non-payment of allotment money of ₹ 30 per share and first call of ₹ 40 per share (including premium ₹ 10). The second and final call of ₹ 30 per share (including premium ₹ 10) was not yet called. Out of these, 2,000 shares were reissued at ₹ 80 per share paid up for ₹ 90 per share.

(ii) Avian Ltd. forfeited 10,000 shares of ₹ 10 each on which the first call of ₹ 4 per share was not received and the second and final call of ₹ 1 per share was not yet called. Out of these, 4,000 shares were reissued to Ajay as fully paid up for ₹ 9 per share.

Aryan and Adya were partners in a firm sharing profits and losses in the ratio of 3 : 1. Their Balance Sheet on 31^st March, 2024 was as follows:


Balance sheet of Aryan and Adya as at 31^st March, 2024

Liabilities & Amount (₹) & Assets & Amount (₹)

Capitals : & & Machinery & 3,90,000

 Aryan & 3,20,000 & Furniture & 80,000

 Adya & 2,40,000 & Debtors & 90,000

Workmen’s Compensation Reserve & 20,000 & Less: Provision for Doubtful Debts & (1,000)

Bank Loan & 60,000 & & 89,000

Creditors & 48,000 & Stock & 77,000

& & Cash & 32,000

& & Profit & Loss Account & 20,000

Total & 6,88,000 & Total & 6,88,000


Dev was admitted into the firm on 1^st April, 2024 for 1/5^th share in the profits of the firm on the following terms:

Dev will bring capital proportionate to his share in the profits of the firm.
Goodwill of the firm was valued at ₹ 2,00,000 and Dev will bring his share of goodwill premium in cash.
Machinery was revalued at ₹ 4,50,000.
A provision for doubtful debts was to be created at 5% on debtors.
A liability of ₹ 3,500 included in creditors was not likely to arise.

Ashish, Vinit and Reema were partners sharing profits and losses in the ratio of 2 : 2 : 1. Their Balance Sheet on 31^st March, 2024 was as follows:


Balance sheet of Ashish, Vinit and Reema as at 31^st March, 2024

Liabilities & Amount (₹) & Assets & Amount (₹)

Capitals : & & Patents & 80,000

Ashish & 2,00,000 & Furniture & 3,00,000

Vinit & 2,00,000 & Stock & 1,70,000

Reema & 1,00,000 & Debtors & 80,000

General Reserve & 50,000 & Less: Provision for Doubtful Debts & (8,000)

Bills Payable & 80,000 & & 72,000

Creditors & 40,000 & Cash & 48,000

Total & 6,70,000 & Total & 6,70,000


On the above date, Vinit retired on the following terms:

Goodwill of the firm was valued at ₹ 60,000 and the same was adjusted into the capital accounts of Ashish and Reema who will share profits in future in the ratio of 3 : 2.
Value of stock was to be reduced by ₹ 10,000.
Patents were found undervalued by 20%.
Vinit was paid ₹ 20,000 immediately on retirement and the balance was transferred to his loan account carrying interest @ 8% p.a.

Which of the following are operating activities for the purpose of preparing cash flow statement ?
(i) Cash payments to suppliers for goods and services.
(ii) Dividend received from investments in other enterprises.
(iii) Cash receipts from royalties, fees, commissions and other revenues.
(iv) Cash repayments of amounts borrowed.

• (A) (i), (ii) and (iii)
• (B) (i) and (iii)
• (C) (i), (iii) and (iv)
• (D) (iii) and (iv)

Which of the following statements is incorrect ?

• (A) Payment of dividend and interest will result in cash outflow from financing activities.
• (B) Payment of employee benefit expenses will result in cash outflows from operating activities.
• (C) Receipt of interest and dividend will result in cash inflow from financing activities.
• (D) Operating activities are the principal revenue generating activities of the enterprise.

Statement I: Investing activities are the acquisition and disposal of long term assets and other investments not included in cash equivalents.

Statement II: Cash payments to acquire fixed assets including intangibles and capitalised research and development results in cash outflow from investing activities.

Choose the correct option from the following:

• (A) Both the Statements are true.
• (B) Both the Statements are false.
• (C) Only Statement I is true.
• (D) Only Statement II is true.

The tool of analysis of financial statements which indicates the trend and direction of financial position and operating results is \underline\hspace3cm.

• (A) Comparative Statements
• (B) Common Size Statements
• (C) Cash Flow Analysis
• (D) Ratio Analysis

Ratios that are calculated for measuring the efficiency of operations of the business based on effective utilization of resources are known as \underline\hspace3cm.

• (A) Profitability ratios
• (B) Solvency ratios
• (C) Turnover ratios
• (D) Liquidity ratios

The Debt Equity Ratio of Manak Enterprises is 2.5 : 1. Which of the following transaction will result in increase in this ratio ?

• (A) Purchase of goods on credit ₹ 2,00,000.
• (B) Payment to creditors ₹ 3,00,000.
• (C) Issue of debentures ₹ 6,00,000.
• (D) Sale of furniture of the book value of ₹ 4,00,000 at a profit of 10%.

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) Calls in advance

(ii) Licences and Franchise

(iii) Prepaid Insurance

From the following information of NK Ltd., prepare a common size Statement of Profit and Loss for the years ended 31st March, 2023 and 31st March, 2024:

Particulars & 2023-24 (₹) & 2022-23 (₹)

Revenue from operations & 20,00,000 & 10,00,000

Cost of materials consumed & 5,00,000 & 3,00,000

Employee benefit expenses & 2,00,000 & 1,00,000

Income Tax @ 40% & &
 

Calculate opening and closing Trade Payables from the following information :

Total purchases ₹ 15,00,000;

Cash purchases are 25% of credit purchases;

Trade payables turnover ratio is 4 times;

Closing trade payables are two times of opening trade payables.

From the following information, calculate Return on Investment :

Shareholders’ Funds ₹ 16,00,000

10% Debentures ₹ 8,00,000

Current Liabilities ₹ 2,00,000

Current Assets ₹ 5,00,000

Non-Current Assets ₹ 21,00,000

Net profit after tax was ₹ 3,00,000 and the tax amounted to ₹ 1,00,000.

From the following information, calculate Cash Flows from Investing Activities :

Particulars & 31--3--2024 (₹) & 31--3--2023 (₹)

Machinery (at cost) & 3,80,000 & 3,00,000

Accumulated Depreciation & 62,000 & 45,000


Additional Information :

A machine costing ₹ 50,000 on which accumulated depreciation was ₹ 20,000 was sold at a profit of 10%.

From the following information, calculate Cash flows from Financing Activities :

Particulars & 31--3--2024 (₹) & 31--3--2023 (₹)

Equity Share Capital & 12,00,000 & 8,00,000

11% Debentures & 3,00,000 & 4,00,000

Securities Premium & 1,40,000 & 1,00,000


Additional Information :

Interest paid on debentures amounted to ₹ 40,000.

To safeguard assets and optimise the use of resources of a business:

• (A) shield and secure its assets only.
• (B) try to earn sufficient profits only.
• (C) keep internal checks and controls.
• (D) ensure accuracy in accounting records only.

Which of the following item is not included in Account group–loans (liabilities) in the Account group of Balance Sheet?

• (A) Bank overdraft
• (B) Sundry creditors
• (C) Unsecured loans
• (D) Secured loans

Which of the following is an adjustment voucher normally used for non-cash transaction?

• (A) Payment voucher
• (B) Receipt voucher
• (C) Contra voucher
• (D) Journal voucher

Which of the following is not an advantage of Computerised Accounting System?

• (A) Timely generation of reports in desired format.
• (B) Unprogrammed and un-specific reports cannot be generated.
• (C) Economy in processing of accounting data.
• (D) Efficient record keeping.

The need for codification is for:

• (A) easy processing of data and keeping the records.
• (B) generation of mnemonic codes.
• (C) to secure accounting reports.
• (D) the encryption of data.

To see all the available shape styles, which of the following button is to be clicked?

• (A) More
• (B) Custom
• (C) Chart root
• (D) Picture

What is meant by ‘Data’, ‘Information’ and ‘Transaction’?

List six features of an Accounting Software.

Each and every data from Notepad file can be saved as an Excel data file. This provides a lead that Excel worksheet consists of four types of data in cell. Name and state these data types.

What is meant by ‘Data Validation’? What is facilitated by ‘Error Alert Tab’?

If a user wishes to change a ‘Text Option’ as an element of chart, how can he/she do so? Explain.