CBSE Class 12 Accountancy sample paper 2026-27: question 27
From the official CBSE sample question paper for 2026-27, section B-I, question 27, for 1 mark. Try it first; the hints and our step-by-step solution are below.
Q27 · 1 mark · MCQFinancial Statements of a Company
A company had the following balances in their books of accounts:
| Particulars | 31st March, 2026 (₹) | 31st March, 2025 (₹) |
|---|---|---|
| Work in Progress | 1,00,000 | 90,000 |
| Finished Goods | 80,000 | 1,10,000 |
| Stock in Trade | 90,000 | 80,000 |
| Raw Material | 20,000 | 10,000 |
What will be the amount of Cost of Materials Consumed if purchases of raw materials amounted to ₹ 1,60,000 and purchase of stock-in-trade amounted to ₹ 2,00,000?
- (A)₹ 1,90,000
- (B)₹ 3,40,000
- (C)₹ 1,50,000
- (D)₹ 3,50,000
Source: official sample paper from cbseacademic.nic.in (PDF). See it in the full Sample paper 2026-27.
Hints
Open one hint at a time and try again before the next.
Hint 1
Which inventory is a "material"?
Hint 2
Purchases of stock-in-trade are a separate line.
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.
Cost of materials consumed uses only raw material: opening ₹ 10,000 + purchases ₹ 1,60,000 − closing ₹ 20,000.
- 1 mark
Cost of materials consumed = ₹ 1,50,000. Stock-in-trade, WIP and finished goods belong elsewhere in the Statement of Profit and Loss. Option (C).
Answer: (C) ₹ 1,50,000
Where the marks are
- Raw material only (1 mark)
Revise the chapter
- Chapter: Financial Statements of a Company (notes, formulas, where marks are lost and every past question)
- Topic: Statement of Profit and Loss under Schedule III
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