AccountancyCBSE Class 12 · Sample paper, session 2026-27 · 4 marks · Long answer

CBSE Class 12 Accountancy sample paper 2026-27: question 33(B)

From the official CBSE sample question paper for 2026-27, section B-II, question 33(B), for 4 marks. Try it first; the hints and our step-by-step solution are below.

Q33(B) · 4 marks · Long answerSpreadsheet

What is meant by internal margin while using MS Excel? State the options available.

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

Liquid assets exclude inventory and prepaid expenses, so add them back to get current assets.

Hint 2

Only direct expenses (wages, carriage inwards) enter cost of revenue from operations; salaries and operating expenses do not.

Hint 3

Inventory turnover uses average of opening and closing inventory.

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.

Verified: two independent solves agree and the official marking scheme matchesChecked 2026-11-06

Closing inventory = 7,000 + 4,000 = ₹11,000
Current assets = Liquid assets + Closing inventory + Prepaid expenses = 75,000 + 11,000 + 2,000 = ₹88,000
1 mark
Current ratio = $\frac{Current Assets}{Current Liabilities} = \frac{88 , 000}{60 , 000} = 1.47 : 1$
1 mark
Net purchases = 70% of 5,00,000 = ₹3,50,000
Cost of revenue from operations = Opening inventory + Net purchases + Wages + Carriage inwards − Closing inventory = 7,000 + 3,50,000 + 10,000 + 40,000 − 11,000 = ₹3,96,000
1 mark
Average inventory = (7,000 + 11,000) ÷ 2 = ₹9,000
Inventory turnover ratio = $\frac{3 , 96 , 000}{9 , 000} = 44$ times
1 mark

Answer: Current ratio = 1.47 : 1; Inventory turnover ratio = 44 times

Where the marks are

Current assets ₹88,000 (1 mark)
Current ratio 1.47:1 (1 mark)
Cost of revenue from operations ₹3,96,000 (1 mark)
Average inventory ₹9,000 and ITR 44 times (1 mark)

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