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Rahul, Samarth and… (Class 12 Accountancy SQP 2024-25, Q11)

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AccountancyCBSE Class 12 · Sample paper, session 2024-25 · 1 mark · MCQ

CBSE Class 12 Accountancy sample paper 2024-25: question 11

From the official CBSE sample question paper for 2024-25, section A, question 11, for 1 mark. Try it first; the hints and our step-by-step solution are below.

Q11 · 1 mark · MCQAccounting for Partnership: Basic Concepts

Rahul, Samarth and Ayaan were partners sharing profits and losses in the ratio of 5:4:3. Ayaan’s fixed Capital balance as on March 31, 2024 was ₹ 2,70,000. Which of the following items would have affected this Capital balance?

  1. (A)Profit/Loss for the year
  2. (B)Additional Capital introduced
  3. (C)Reduction in Capital due to Capital Adjustment
  4. (D)Both B and C

Source: official sample paper from cbseacademic.nic.in (PDF). See it in the full Sample paper 2024-25.

Hints

Open one hint at a time and try again before the next.

Hint 1

What is recorded in a fixed capital account?

Hint 2

Where does the year's profit go under fixed capitals?

Step-by-step solution

Each step shows the marks it earns, as an examiner would award them. Checked by an independent re-solve from the question paper.

  1. Under the fixed capital method, profit, salary, interest and drawings go to the current account.

  2. Only capital introduced or permanently withdrawn changes the fixed capital: B and C. Option (D).

    1 mark

Answer: (D) Both B and C

Where the marks are

  • Only capital additions and reductions change fixed capital (1 mark)

Revise the chapter

Practise this chapterBoard-style questions from Accounting for Partnership: Basic Concepts, one at a time, marked against the answer key and marking points.Back to the full paperSample paper 2024-25: every question, by section.

The question is transcribed from the official paper; figures are described in words. The solution, hints and chapter tag are ours. Spotted an error? Write tosupport@questionbuddy.in.