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On 1st July, 2024… (Class 12 Accountancy SQP 2025-26, Q2)

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AccountancyCBSE Class 12 · Sample paper, session 2025-26 · 1 mark · MCQ

CBSE Class 12 Accountancy sample paper 2025-26: question 2

From the official CBSE sample question paper for 2025-26, section A, question 2, for 1 mark. Try it first; the hints and our step-by-step solution are below.

Q2 · 1 mark · MCQAccounting for Partnership: Basic Concepts

On 1st July, 2024, A, B and C entered into partnership sharing Profits & Losses in the ratio 5:3:2. C was guaranteed that his share of profits will not be less than ₹ 60,000 p.a. Deficiency if any will be borne by A and B equally. For the year ended March 31, 2025, firm incurred loss of ₹ 1,25,000. Deficiency will be borne by A and B will be:

  1. (A)A ₹ 30,000 and B ₹ 30,000
  2. (B)A ₹ 43,750 and B ₹ 26,250
  3. (C)A ₹ 42,500 and B ₹ 42,500
  4. (D)A ₹ 35,000 and B ₹ 35,000

Source: official sample paper from cbseacademic.nic.in (PDF). See it in the full Sample paper 2025-26.

Hints

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

Hint 1

A guarantee "per annum" must be cut down for a part year.

Hint 2

C's share of the loss also has to be made good, on top of the guaranteed amount.

Hint 3

Split the total deficiency equally between A and B.

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. The firm ran from 1st July, 2024 to 31st March, 2025, i.e. 9 months, so C's guarantee is ₹ 60,000 × 9/12 = ₹ 45,000.

  2. C's share of the loss = ₹ 1,25,000 × 2/10 = ₹ 25,000 (a loss). To give C ₹ 45,000, the deficiency is ₹ 45,000 + ₹ 25,000 = ₹ 70,000.

  3. A and B bear it equally: ₹ 35,000 each. Option (D).

    1 mark

Answer: (D) A ₹ 35,000 and B ₹ 35,000

Where the marks are

  • Time-proportioned guarantee ₹ 45,000 and deficiency ₹ 70,000 shared equally (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 2025-26: 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.