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Answer the followin… (Class 12 Accountancy SQP 2025-26, Q32)

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AccountancyCBSE Class 12 · Sample paper, session 2025-26 · 3 marks · Short answer

CBSE Class 12 Accountancy sample paper 2025-26: question 32

From the official CBSE sample question paper for 2025-26, section B-I, question 32, for 3 marks. Try it first; the hints and our step-by-step solution are below.

Q32 · 3 marks · Short answerFinancial Statements of a Company

Answer the following.

  1. (i)

    Give two examples of Inventory except Raw Materials, Work in Progress, Finished Goods and Stock in Trade.

    1 mark
  2. (ii)

    Where will you disclose the amount of loss on issue of debentures written off out of Statement of Profit and Loss?

    1 mark
  3. (iii)

    Where will you disclose Purchase of Raw Materials in Financial Statement of Company?

    1 mark

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

Schedule III lists inventory categories beyond the four named.

Hint 2

Loss on issue of debentures is a borrowing cost.

Hint 3

Raw materials are not "purchases of stock-in-trade".

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. (i) Other items of inventory: loose tools, and stores and spares.

    1 mark

  2. (ii) Loss on issue of debentures written off to the Statement of Profit and Loss is shown under Finance Costs.

    1 mark

  3. (iii) Purchase of raw materials is shown as part of Cost of Materials Consumed in the Statement of Profit and Loss.

    1 mark

Answer: (i) Loose tools; stores and spares (ii) Finance Costs (iii) Cost of Materials Consumed

Where the marks are

  • Two other inventory items (1 mark)
  • Finance Costs (1 mark)
  • Cost of Materials Consumed (1 mark)

Revise the chapter

Practise this chapterBoard-style questions from Financial Statements of a Company, 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.